de | cn | ru

IKOfx Review - Is it scam or safe?

IKOfx Review - is IKOfx scam or good forex broker?

RATING: 1.5 / 2 REVIEWS ForexBrokerz IKOfx
IKOfx is not regulated. We cannot guarantee your money is safe.
Scammed by IKOfx ? Click here!

Trading Accounts & Conditions

 

Account type Minimum deposit  Maximum leverage Minimum trade size Spreads (& Commission)
Mini $1 1:1000 0.01 Fixed, 2 pips on EUR/USD
Standard $2000 1:500 0.1 Fixed, 2 pips on EUR/USD
ECN $1000 1:200 0.01 From 0.2 + volume-based commission

 

Like most forex brokers, offers its clients a choice of several basic account types to make sure traders of all skill level and portfolio size are well taken care of. There are two commission-free accounts with fixed spreads and an ECN one, where the spreads are floating and a commission applies.

 

In addition, swap-free (Islamic) services are available to clients who are not willing to earn interest for religious reasons.

 

Micro lots, usually appreciated by inexperienced traders who don’t want to risk large amounts, are available on Mini & ECN accounts.

 

The minimal amount required to open an account with IKOfx is just $1, which is a reasonably low amount, considering the lack of regulation. Its fixed spreads are average, amounting to 2 pips on EUR/USD. The broker’s variable spreads are tight, starting out at 0.2 pips, however there is no information about the amount of the commission fees applicable on ECN accounts.

 

The Company. Security of Funds

 

Company

Country

Regulation

IKO Global Limited 

Vanuatu

VFSC

 

Founded in 2009, IKOfx offers trading in 26 currency pairs and precious metals on the industry’s standard MetaTrader 4 platform. This is a brand of IKOfx LTD., a company based in New Zealand. However, it was deregistered from New Zealand’s Financial Service Providers Register in 2015 and currently operates under a registration with the Vanuatu Financial Services Commission (VFSC).  

 

Vanuatu is an offshore tax-free destination, where registration procedure for forex and binary brokers is fast and low cost. Minimum capital requirements are very low, amounting to $2000, and registered companies are not supervised. minimum capital requirement

 

In our opinion, one should always be very cautious when dealing with a brokerage registered offshore, as some of them are outright scam, and traders have no protection whatsoever is something goes wrong. That is why we advise traders to avoid such companies and to select a forex broker licensed in UK, Cyprus, or Australia for instance, where traders have certain level of protection and where financial watchdogs exercise supervision over financial services providers.

 

Trading Platforms

 

IKOfx offers its services on two platforms among traders - MetaTrader 4 and IKOfx WebTrader.

 

The MT4 is available as desktop and mobile versionя. This professional, fully-featured software provides traders with everything they need: fast order execution, a variety of technical indicators, linear instruments advanced charting package and the ability to develop and to use Expert Advisors (EA).

 

IKOfx WebTrader, on the other hand, is a web-based trading platform which enables traders to login with their IKOfx MT4 username and password without any installation required. This is in fact its only advantage.

 

 

What is more, this broker offers Copy Trading services through FX-Coliseum, a cross-brokers copy-trade platform for any MT4 trader.

 

Bonuses & Rebates

This broker regularly launches various promotions. At the time of writing this review IKOfx offers s Welcome on deposit bonus of 40% up to $3,000 for deposits over $100.

 

Methods of Payment

 

Clients of IKOfx are offered the following payment modes: credit/debit cards (Visa & MasterCard), bank wire transfers, and Perfect Money.

 

Conclusion

 

IKOfx is an experienced offshore broker, offering typical conditions for trading in currency pairs and precious metals on the MT4 and IKOfx WebTrader. Its main disadvantage is the lack of regulation. To sum up the above: 

 

Pros  Cons
Competitive trading conditions Registered offshore
MT4 available No indices and stock CFDs
Bonuses offered  
ECN environment available  

 

Latest news about IKOfx
No news about IKOfx . Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

Traders` reviews for IKOfx

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Scam

This group have 2 mt4 ikofx and trunfx both have scam

Fiaz hussain 11/10/2018
de | cn | ru