When you access CKFX’s website, the first word that comes to mind is “simplicity”. The site is as simple and empty as can be, with very little information. Do not let that fool you though, CKFX has a nice offering and in some cases, even outdoes its parent, Forex Yard, for who they act as an introducing broker.
The registration and deposit process was easy and straight forward with the ability to deposit funds using a bank transfer or credit card; all the major cards are accepted. The withdrawal process turned out to be quite easy as well only taking up to 5 days to withdraw funds.
In terms of the trading itself, their Forex Yard Trading Station platform is easy to use and full of functionality. Some features included in their downloadable platform include Stop Losses, Take Profit, charts and graphs, trading history, and the support for commodities like gold and silver. In addition to their standard platform, they also offer a Java-based platform that is compatible with Macs and does not need to be downloaded, which can be a huge advantage to many new traders.
CKFX’s website is available in 5 languages, English, Dutch, Spanish, French, and Italian, while their platform adds a few more including Arabic, Finnish, German, and Swedish.
CKFX supports 30 different currency pairs with the typical spread for major pairs being 3-5. They offer a demo account to practice trading on their platform and also enable you to trade with a super-mini account that can get you trading with as little as $100. As soon as the account has over $999, it is automatically converted to a standard account. They offer a maximum leverage of 200:1, which is not the highest in the market, but is also not too shabby.
Although they offer a mini account, CKFX charges deposit and withdrawal fees on that account only, a price you have to pay for trading such small amounts of money.
In terms of their service, they are available by email, phone, and live chat, 24 hours a day, 6 days a week. They not only advertise these forms of communication, I found them to be very responsive when contacted. The only issue I had with their chat was the fact that they were very hesitant, a little TOO hesitant to admit to me that they are an introducing broker for Forex Yard. They offer some basic Forex training on their site answering questions anywhere from “What is a pip” to “How is it calculated?” In addition, they offer a tour of their platform, in which they show you different screen shots of the platform and an explanation of each one.
CKFX is based in Cyprus and is EU regulated. They seem to be a reliable broker, and are offering a very attractive promotion to new traders. If you open a demo account, then decide to go live, you can take your profits from the demo into the real account and begin trading with real money. There is some “small print” to this promotion such as a minimum of 20 trades in the demo account and a minimum 500 transactions in the real account within 3 months, but all in all, it is a nice bonus for people who join CKFX, and one that definitely gives them an edge over the competition and a reason to trade with them and not with Forex Yard.