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IKON GM IKON GM Review

IKON GM Review & Rating | IKON GM Forex Broker |  www.ikon-royal.com

RATING: 3.2 / 2 REVIEWS
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Headquarters: 99 Wall Street, New York 10005

Country: United States

Regulated by: CFTC, NFA

IKON GM trading conditions:

  • minimum deposit: $2,500
  • minimum lot size: 10k
  • max leverage: 1:50
  •  

Spread:

Variable spread from 1 pip

 

Dealing:

STP - Straight Through Processing

 

Trading platforms
Metatrader, Strato Viking (Currenex), Core (Options)

Deposit/Withdraw methods
Wire, Credit Cards


What we think about IKON GM

Please note: IKON General Markets, or IKON GM is an American broker that exited the U.S. Retail forex market back in October 2010 and withdrew its Futures Commission Merchant (FCM) registration with the National Futures Association. 

 
Currently, the broker's website claims it only accepts applications for futures accounts from retail investors, however given its lack of FCM license, you should be cautious should you decide to open an account with IKON GM.
 
 
Latest news about IKON GM
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Spread

Variable spreads
Typical spreads  EUR/USD -2 | GBP/USD - 3 | USD/CHF - 3 | USD/JPY -2

Pros

Cons

Low Spreads

No commissions 

Sreads widen during volatile market

Sreads widen during news releases 

Slippage

Pros

Cons

No slippage during normal market conditions

 

Slippage during news releases

 

 

Requotes

Pros

Cons

No requotes during normal market conditions

 

Some requotes during news releases

 

Price feed

Pros

Cons

No Price Manipulation

No Stop Hunting 

No

 

 

Platform

Pros

Cons

Metatrader 4.0

Very intuitive and easy to handle

Decent charts

Custom indicators 

Autotrading

Mobile ready

Trailing stop is server based

No Web Platform

 

 

 

 

Deposit/Withdraw

Deposit

Withdraw

Electronic Funds Transfer

Paper Check

PayPal

Bank Wire 

Bank Wire

Check

PayPal 

 

 

Customer service

Pros

Cons

Friendly Customer service reps

Phone

Request a call

Live Chat

E-mail 

No

 

 

 

 

Summary

Pros

Cons

Metatrader 4.0
Rare requotes
Regulated

Minimum deposit: $2,500

Spreads widen during volatile market 

 

Traders` reviews for IKON GM

Pros of IKON GM - Royal Division Forex Broker
* Good liquidity and execution
* Very helpful staff

Cons of IKON GM - Royal Division Forex Broker
* Charges for bank transfer withdrawals

e-forex.net 10/29/2009

IKON GM - just another dealing desk forex broker

I have been trading FX full time for a little over 2 years now. I was introduced to Ikon after I got screwed by interbankfx. Ikon looked like they would be a reputable company, until I started trading live. In the demo account they will keep the spreads low so to give you the idea that they will always be tight spreads. But infact they are a captive style broker or they have a dealing desk. Either way they are making money off of the spreads. So durring the most volitlie times of the market when there should be the tightest spreads that is the time that you will a larger spread. It is classic for the bucket shops, or the brokers that have a dealing desk, to discourage you from getting in when it is most volitile. If you get in and they are on the other side of your trade they stand to lose a lot of money and quick. As far as I can tell this is one of those companies. I have been requoted more with this broker then I have with any other broker.

Nathan 09/06/2009
Forex
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