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IKOFX Broker Review

FX Author By Jeffrey Cammack Author Information Updated: July 4, 2020
Overall Rating
2.62 2.62 / 5
Min. DepositUSD 1
Max. Leverage1000:1
Min. Spread2.0 pips
Regulators VFSC
Regulator Origin VFSC
Trading Desk Type

Summary

IKOFX your simple and well-regulated broker.  With simple account options, one-click trade execution, and optional swap-free Islamic accounts, this broker makes it to our list of favourites.  Intermediate and advanced traders will enjoy the updates to the MetaTrader 4 platform that IKOFX have built by themselves and can take advantage of hedging and scalping which is not offered by all brokers as standard.

Fast execution and minimal slippage on the ECN account is just another example of features that really complete the offering for a strong broker.

Reviews

Regulation 10000
Trading Conditions 1110.50
Trading Platforms 11110
Deposit & Withdrawal 10000
Education & Research 10.5000
Assets Available 1110.50
Customer Service 1110.50
Beginner Friendly Standard
Bonuses First Deposit Bonus up to 500 USD
Our Review Process

Trading Conditions

Minimum DepositUSD 1
Base currenciesUSD, EUR, GBP, AUD
Number of FX Pairs26
Hedging Allowed Yes
Scalping Yes
Islamic Account Yes

Average Spreads

EUR / USD2.0
GBP / USD3.0
USD / JPY2.0

Company Details

Company nameIKO Global Limited
Founded2008
Website www.ikofx.com
Type Market Maker
Regulators VFSC
Office locations Vanuatu

Deposit & Withdrawal Methods

Supported Platforms for IKOFX

Is IKOFX Safe?

IKOFX was founded in 2009 with their head office in New Zealand and another in the Virgin Islands.   It is regulated by the FSP of New Zealand and has a good rating for fund security and reliability of deposited funds.

IKOFX is a STP (Straight Through Processing) brokerage, and their main client base is in the Asian market.  Client funds are kept in segregated accounts making account security strong and reliable.

Account Types

Three main account types are available to traders, with two of the accounts having an Islamic swap-free option.  All accounts offer clients the opportunity to trade 26 different pairs.   IKOFX offers a 40% bonus on every deposit over $100, even after the initial deposit.  The main components of the account are:

A free demo account is available for all traders, and all accounts offer traders tools and interactive charts needed for trading.

Trading Platforms

IKOFX has made some proprietary modifications to the normal MetaTrader4 platform and called it MetaTrader IKOFX. Clients can operate through IKOFX iPhone Trader, iPad, Android Trader and the Web Trader. There is also a Meta Multi-terminal platform.

The company allows automated trading by expert advisors on their MetaTrader4 platform.  If you are interested in this option, please bring that up with your account manager.

Deposit & Withdrawal

Standard deposit and withdrawal systems are available with IKOFX such as bank wire, credit cards, and Liberty Reserve money transfers.

Customer Support

The support team is highly rated. Clients can contact IKOFX representatives via live chat or email.  Free Forex education is provided for traders with its training and education section where you can learn all about trading, technical analysis and analyze past samples of trading. There are also Forex seminars from which you can learn.

Conclusion

IKOFX is a popular, professional and reasonably experienced brokerage that is moving up the ladder of being a bigger player in the global market. With simple account options, freedom to run your account as you wish, and an Asian focus, IKOFX could be a great new broker for you.

Alert Most retail CFD accounts lose money. Your capital is at risk.

Compare CFD Brokers

Overall Rating 110.500 2.62 / 5 1110.50 3.42 / 5 1110.50 3.87 / 5
Minimum DepositUSD 1USD 150USD 5
Regulation
VFSC VFSC
CySEC CySEC
B.V.I FSC B.V.I FSC
CySEC CySEC
IFSC IFSC
Trading Desk Type
Trading InstrumentsCommodities, ForexCommodities, Forex, EquitiesCommodities, Cryptocurrencies, Forex, Metals, Equities
Forex Pairs2611037
Crypto Pairs24
Pros
  • Wide range of assets
  • Copy trading accounts
  • Tight spreads
  • Low minimum deposit
  • Excellent education
  • Excellent market analysis
Cons
  • Not properly regulated
  • Expensive withdrawals
  • Limited education
  • Limited market analysis
  • Limited currency pairs
  • Limited market analysis
  • Limited education
  • Wide spreads
  • Limited range of assets
  • Extreme leverage
Read Full Review Read Full Review
Regulation 10000 1 / 5 11110 4 / 5 1110.50 3.5 / 5
Trading Conditions 1110.50 3.5 / 5 11000 2 / 5 11110.5 4.5 / 5
Trading Platforms 11110 4 / 5 11110 4 / 5 11110.5 4.5 / 5
Deposit & Withdrawal 10000 1 / 5 11110 4 / 5 11000 2 / 5
Education & Research 10.5000 1.5 / 5 11100 3 / 5 11110.5 4.5 / 5
Assets Available 1110.50 3.5 / 5 1110.50 3.5 / 5 11110 4 / 5
Customer Service 1110.50 3.5 / 5 11110 4 / 5 1110.50 3.5 / 5
% Lose with this broker N/A 62.8% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider
Leverage1000:11000:13000:1
Spread2.0 pips0.0 pips0.0 pips
Hedging Yes No Yes
Scalping Yes No Yes
Account Types
  • Standard (Professional)
  • Islamic
  • Zero Spread (Professional)
Islamic Account Yes Yes Yes
Trading Platforms IKOFX, MT5 MT4 MT4 , MT5
Funding Methods Bank Transfer, Visa, Mastercard Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, Unionpay, Broker to Broker Visa, Neteller, Unionpay
Trading Commission Fees Included in Spread Fees Included in Spread 6 USD / lot - ECN Account
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Overall Rating 110.500 2.62 / 5 1110.50 3.42 / 5 1110.50 3.87 / 5
Minimum DepositUSD 1USD 150USD 5
Regulation
VFSC VFSC
CySEC CySEC
B.V.I FSC B.V.I FSC
CySEC CySEC
IFSC IFSC
Trading Desk Type
Trading InstrumentsCommodities, ForexCommodities, Forex, EquitiesCommodities, Cryptocurrencies, Forex, Metals, Equities
Forex Pairs2611037
Crypto Pairs24
Pros
  • Wide range of assets
  • Copy trading accounts
  • Tight spreads
  • Low minimum deposit
  • Excellent education
  • Excellent market analysis
Cons
  • Not properly regulated
  • Expensive withdrawals
  • Limited education
  • Limited market analysis
  • Limited currency pairs
  • Limited market analysis
  • Limited education
  • Wide spreads
  • Limited range of assets
  • Extreme leverage
Read Full Review Read Full Review
Regulation 10000 1 / 5 11110 4 / 5 1110.50 3.5 / 5
Trading Conditions 1110.50 3.5 / 5 11000 2 / 5 11110.5 4.5 / 5
Trading Platforms 11110 4 / 5 11110 4 / 5 11110.5 4.5 / 5
Deposit & Withdrawal 10000 1 / 5 11110 4 / 5 11000 2 / 5
Education & Research 10.5000 1.5 / 5 11100 3 / 5 11110.5 4.5 / 5
Assets Available 1110.50 3.5 / 5 1110.50 3.5 / 5 11110 4 / 5
Customer Service 1110.50 3.5 / 5 11110 4 / 5 1110.50 3.5 / 5
% Lose with this broker N/A 62.8% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider
Leverage1000:11000:13000:1
Spread2.0 pips0.0 pips0.0 pips
Hedging Yes No Yes
Scalping Yes No Yes
Account Types
  • Standard (Professional)
  • Islamic
  • Zero Spread (Professional)
Islamic Account Yes Yes Yes
Trading Platforms IKOFX, MT5 MT4 MT4 , MT5
Funding Methods Bank Transfer, Visa, Mastercard Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, Unionpay, Broker to Broker Visa, Neteller, Unionpay
Trading Commission Fees Included in Spread Fees Included in Spread 6 USD / lot - ECN Account

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Alert Most retail CFD accounts lose money. Your capital is at risk.

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