GKFX Prime (gkfxprimefx.com) is a fraudulent broker posing as Colmex Pro. Its domain was registered on August 18, 2023. This fraudulent broker claims to provide investment services in markets such as stocks, forex, commodities, precious metals, indices, and cryptocurrencies.
Company Registration Information and Regulatory Status
According to the official website of GKFX Prime (gkfxprimefx.com), the broker's entity is GKFX Prime Ltd, regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 123/10, and by the Financial Services Conduct Authority (FSCA) of South Africa with license number 46990. Additionally, the broker claims to be authorized by the National Futures Association (NFA) in the USA, with NFA ID 0557897.
Furthermore, the GKFX Prime website does not disclose more detailed registration information about the company entity and lacks related legal documents such as terms of service, privacy policy, and risk warnings.
After verification, the CySEC website shows that the company with license number 123/10 is Colmex Pro Ltd, and the FSCA website shows that the company with license number 46990 is COLMEX PRO LIMITED. These licenses actually belong to the broker Colmex Pro, not GKFX Prime Ltd. Additionally, the NFA website shows no registered member with NFA ID 0557897. The design and content of the GKFX Prime website have been plagiarized from the Colmex Pro website.
Trading Instruments
GKFX Prime offers a variety of financial derivatives for trading, including stocks, forex, commodities, precious metals, indices, and cryptocurrencies.
- Stocks: Represent shares of ownership in a company. By purchasing stocks, investors become partial owners of the company, with opportunities for dividends and capital appreciation. The stock market is highly volatile, with both risks and rewards.
- Forex: The forex market involves the exchange of currencies between different countries. Investors profit by trading currency pairs (e.g., USD/EUR). The forex market is the largest financial market globally, characterized by high liquidity and volatility.
- Commodities: Include physical assets such as energy (oil, natural gas), agricultural products (wheat, corn), and metals (copper, aluminum). Commodity trading is influenced by factors such as supply and demand, geopolitics, and natural disasters, leading to significant price fluctuations.
- Precious Metals: Mainly refer to metals like gold, silver, platinum, and palladium. Precious metals are often viewed as safe-haven assets, especially during times of economic uncertainty, driving increased demand and higher prices.
- Indices: Represent the aggregated performance of a basket of stocks in the stock market. Common indices include the Dow Jones Industrial Average, S&P 500, and Nasdaq. Investing in indices provides indirect exposure to the overall market or specific sectors.
- Cryptocurrencies: Digital currencies based on blockchain technology, such as Bitcoin and Ethereum. The cryptocurrency market is highly volatile, innovative, and speculative, accompanied by significant risks and regulatory uncertainties.
Account Opening Process
To open an account on GKFX Prime, follow these steps:
- Visit their website and click the "Open an Account" button on the homepage to access the account registration page.
- Fill in your email address and set a login password in the account application form, then submit it after receiving and entering the verification code.
- After logging in, users need to complete KYC identity verification to proceed with deposits and trading.
Account Types
GKFX Prime claims to offer a variety of trading accounts, including Multi-asset accounts, Stocks CFDs accounts, ST5 Accounts, Retail Traders accounts, and Professional Traders accounts.
Retail Traders
- Major currency pairs: Leverage 1:30
- Non-major currency pairs, indices, and gold: Leverage 1:20
- Commodities and metals other than gold: Leverage 1:10
- Stocks and ETFs: Leverage 1:5
- Cryptocurrencies: Leverage 1:2
Automatic Stop-Loss: 50% of account equity. The least profitable positions will be closed until the margin level exceeds the minimum requirement.
Professional Traders
- Currency pairs: Leverage 1:200
- Metals excluding silver: Leverage 1:100
- Commodities, indices, and silver: Leverage 1:40
- Stocks and ETFs: Leverage 1:20
- Cryptocurrencies: Leverage 1:5
GKFX Prime Account: Positions will be closed when the account balance reaches $50.
ST5 Account: Automatic stop-loss when account equity reaches 10%. The least profitable positions will be closed first.
Trading Platform
Public information indicates that GKFX Prime provides the ST5 trading platform available only for web and mobile users. By clicking the mobile download links on the official website, it is revealed that the trading software is listed as Sdcfskdvt on the App Store and Sncowete on Google Play.
Deposits and Withdrawals
GKFX Prime claims to support deposits and withdrawals through methods such as VISA, Mastercard, and Skrill.
Conclusion
Traderknows warns investors that GKFX Prime (gkfxprimefx.com) is actually a fraudulent website impersonating the broker Colmex Pro. Investors are advised to choose brokers with transparent information, strict regulation, and good reputations for their investment activities to avoid unnecessary financial losses.
