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Webull vs GKFX

Webull vs GKFX Comparison Table 2024
Webull GKFX
Review
4.4
Review
2.5

Webull is a multi-regulated trading app that offers stocks, options, forex, cryptos, ETFs, fractional shares and more. The firm is authorized by the SEC, FINRA and FCA and continues to uphold a strong trust rating. Low fees, no minimum investment and generous welcome bonuses have made the discount broker popular with online investors.

GKFX is an online forex and CFD broker founded in 2013. Based in Malta, the firm operates in multiple locations around the world, namely the Middle East and Asia. Traders can access over 150 markets on the MetaTrader 4 (MT4) platform, with leverage up to 1:30. GKFX is regulated by the Malta Financial Services Authority (MFSA).

Bonus Offer
Up to 12 free fractional shares when you deposit $100
Comment by Reviewer
"Webull is best for traders looking to buy and sell stocks on a user-friendly platform with zero commissions. The intuitive app also makes this broker great for mobile investors." "After thoroughly testing the Standard account, I’m happy to recommend GKFX to beginners or intermediate traders looking to trade exclusively on the MT4 platform. The €100 minimum deposit should be accessible for most traders and there’s a good range of additional tools for experienced analytical traders."
Pros
  • The Smart Advisor tool facilitates a more hands-off approach to investing, with low minimum investments and automatic rebalancing
  • The $0 minimum deposit and availability of fractional shares make broker highly accessible for beginners and those on a budget
  • The flagship charting platform offers comprehensive analysis tools including 60+ indicators, plus deep fundamental data
  • Webull maintains its strong reputation, with regulation by in the US and UK and a clean track record
  • Webull is a low-cost broker, offering commission-free trading on many assets and zero inactivity fees
  • Alongside the investment account, the broker offers IRAs for those with long-term financial goals
  • The broker offers free stocks to newly registered investors
  • I found GKFX’s trading conditions were relatively competitive compared to other brands. Minimum spreads are low, starting from 0.6 pips for EUR/USD, plus there are zero commissions in the Standard account
  • I was pleased to see some excellent additional tools on offer alongside the MT4 platform, including Trading Central analysis and Autochartist. There’s also a VPS service for experienced traders
  • There’s a decent range of payment methods available, from bank wire to e-wallets like Neteller and Skrill. Most methods are also processed instantly
  • I feel reassured that GKFX is regulated in the EU by the MFSA and is also fully compliant with ESMA regulations
Cons
  • There are relatively high deposit and withdrawal fees for non-US residents, including a $45 charge for international wire withdrawals
  • There’s a narrow range of payment methods available compared to competitors, with just ACH, ACATS and wire transfers available
  • There’s only one platform on offer, with no additional third-party tools
  • Whilst MT4 is an excellent platform, some traders may feel restricted by the lack of choice. Many brokers will offer at least one other third-party platform or even a proprietary solution
  • I think the broker’s range of assets isn’t as wide as many competitors and it would have been good to see more global stocks on offer
  • I’m disappointed that most deposit methods come with fees starting from 1%. Most brokers will offer free deposits
Instruments
Forex, Stocks, ETFs, Cryptos, Options Forex, CFDs, indices, shares, commodities, cryptocurrencies
Demo Account
Yes Yes
Minimum Deposit
$0 €100
Trading Platforms
  • Desktop App
  • Web Terminal
  • MT4
  • AutoChartist
  • TradingCentral
Payment Methods
Minimum Trade
0.00001 (Fractional Share) 0.01 Lots
Regulator
SEC, FINRA, FCA MFSA
Margin Trading
Yes No
Margin Rate
5.49% - 9.49%
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
Yes No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
iOS & Android Yes
Auto Trading
Yes
Copy Trading
No No
Social Trading
No Yes
Trade Signals
Yes (GKFX Prime)
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
No Yes
Account Currencies
  • USD
Stock Exchanges
Commodities
CFD Trading
CFD trading not offered GKFX’s collection of CFDs spans forex, indices, commodities, cryptocurrencies and stocks with just a €100 minimum deposit and zero commissions in the Standard account. I was pleased to see some additional tools to enhance the CFD trading experience, including Trading Central insights, chart analytics by Autochartist, and a VPS service.
Leverage
1:4 1:5
FTSE Spread
1
GBPUSD Spread
0.7
Oil Spread
0.03
Stocks Spread
$0 Variable
Forex Trading
Webull offers a small range of 17 currencies - far fewer than the 40+ offered by most competitors. Forex can be traded on the feature-rich investing app, offering 50+ customizable indicators plus dozens of technical signals. Beginners can also utilize demo mode with unlimited virtual cash. I was impressed with GKFX’s above-average range of 50+ currency instruments covering major, minor and exotic pairs. I found spreads were also pretty reasonable, starting from 0.6 pips for EUR/USD. Sensible leverage is available up to 1:30 as per MiFID guidelines, and I appreciate the margin, profit and currency calculators available on the website.
GBPUSD Spread
0.4 0.7
EURUSD Spread
0.2 0.6
EURGBP Spread
0.4 1.4
Assets
15+ 50+
Cryptocurrency
Webull offers trading on 8 popular cryptos through its Webull Pay app, including Bitcoin, Litecoin and Shiba Inu. The broker charges a 100bps (basis points) markup on the price, although there is no minimum equity requirement or commission fee. I found just a handful of crypto pairs available to trade at GKFX, which is quite limited compared to some similar brokers. Leverage is available up to 1:2 and there’s also a demo account with up to $100,000 in virtual funds for those who want to practice their crypto strategies risk-free.
Spread
Floating Variable
Coins
  • BTC
  • BCH
  • DOGE
  • ETC
  • ETH
  • LTC
  • SHIB
  • USDC
  • BTC
  • LTC
  • ETH
  • XRP
  • DSH
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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