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IKOFX Broker Review

FX Scouts By Jeffrey Cammack Updated: December 7, 2019
Overall Rating
3.45 / 5
Min. Deposit USD 1
Max. Leverage 1000:1
Min. Spread 2.0 pips
Regulators VNU
Regulator Origin VNU
Broker Type Market Maker

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

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Bonuses Welcome Bonus up to 500 USD
Beginner Friendly Standard
Our Review Process

Trading Conditions

Minimum Deposit USD 1
Base currencies USD, EUR, GBP, AUD
Number of FX Pairs 26
Hedging Allowed Yes
Scalping Yes
Swap-Free Accounts Yes

Average Spreads

EUR / USD 2.0
GBP / USD 3.0
USD / JPY 2.0

Company Details

Company name IKO Global Limited
Founded 2008
Website Visit Website
Type Market Maker
Regulators VNU
Office locations Vanuatu

Deposit & Withdrawal Methods

Supported Platforms for IKOFX

IKOFX Broker Detailed Review

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.

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

Compare Brokers

Overall Rating 3.45 / 5 3.62 / 5 3.97 / 5
Minimum Deposit USD 1 USD 5 USD 5
Regulation
VNU VNU
CySEC CySEC
B.V.I FSC B.V.I FSC
CySEC CySEC
IFSC IFSC
Broker Type Market Maker ECN ECN/STP
Trading Instruments Forex, Commodities Forex, Commodities, Stocks Commodities, Cryptocurrencies, Forex, Metals, Stocks
Forex Pairs 26 110 37
Crypto Pairs 2 4
Read Full Review Read Full Review
Trust Rating 3 / 5 4 / 5 3.5 / 5
Trading Conditions 3.5 / 5 3 / 5 4.5 / 5
Trading Platforms 4.5 / 5 4 / 5 4.5 / 5
Deposit & Withdrawal 3 / 5 4 / 5 3 / 5
Education & Research 3 / 5 3 / 5 4.5 / 5
Assets Available 3.5 / 5 3.5 / 5 4 / 5
Customer Service 3.5 / 5 4 / 5 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
Leverage 1000:1 1000:1 3000:1
Spread 2.0 pips 0.0 pips 0.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Professional,Mini
  • Mini
  • Mini,Professional,Standard
Swap Free Yes Yes Yes
Trading Platforms MetaTrader4, MetaTrader5, WebTrader, IKOFX MetaTrader4, WebTrader MetaTrader4, MetaTrader5, WebTrader
Funding Methods Bank Transfer, Visa, Mastercard Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, Unionpay, Broker to Broker Visa, Neteller, Unionpay
Trading Commission Yes
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IKOFX

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Overall Rating 3.45 / 5 3.62 / 5 3.97 / 5
Min. Deposit USD 1 USD 5 USD 5
Regulation
VNU VNU
CySEC CySEC
B.V.I FSC B.V.I FSC
CySEC CySEC
IFSC IFSC
Broker Type Market Maker ECN ECN/STP
Read Full Review Read Full Review Read Full Review
Trust Rating 3 / 5 4 / 5 3.5 / 5
Trading Conditions 3.5 / 5 3 / 5 4.5 / 5
Trading Platforms 4.5 / 5 4 / 5 4.5 / 5
Deposit & Withdrawal 3 / 5 4 / 5 3 / 5
Education & Research 3 / 5 3 / 5 4.5 / 5
Assets Available 3.5 / 5 3.5 / 5 4 / 5
Customer Service 3.5 / 5 4 / 5 3.5 / 5
Risk Disclaimer 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
Leverage 1000:1 1000:1 3000:1
Spread 2.0 pips 0.0 pips 0.0 pips
Hedging Allowed Yes Yes Yes Yes Yes Yes
Scalping Allowed Yes Yes Yes Yes Yes Yes
Platforms MetaTrader4, MetaTrader5, WebTrader, IKOFX MetaTrader4, WebTrader MetaTrader4, MetaTrader5, WebTrader
Funding Bank Transfer, Visa, Mastercard Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, Unionpay, Broker to Broker Visa, Neteller, Unionpay

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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