On-line since: About company: IKOfx offers its clients to trade more than 26 currency pairs and precious metals on the standard MetaTrader 4 platform. The IcoFX LTD, founded in 2009, is owned by a company based in New Zealand. However, the broker was removed from the Financial Service Provider Registry of New Zealand in 2015. At the moment, it operates in accordance with the Vanuatu Financial Services Commission (VFSC). Security of funds Vanuatu is an offshore tax-free territory where the registration procedure is quick and inexpensive for Forex and binary brokers. Therefore, you should always be very careful when dealing with brokerage companies registered offshore as some of them are scammers. Traders have no financial protection in case of fraud or the company’s bankruptcy. This is why we highly advise traders to avoid such companies and choose licensed Forex brokers in Cyprus or in Australia. Trading conditions The broker provides 3 types of a real trading account: Mini, Standard, and ECN. Traders are allowed to trade on Mini and Standard accounts without swaps, but only at the request of the traders themselves. Besides, you can open a free training account (demo account). Minimum deposit The minimum deposit for a Mini account is $1. The maximum deposit for a Standard account is $2000. Spreads and commissions Fixed spreads are usually 2 pips on the EUR/USD pair. However, there is no information on the fees applied to ECN accounts. Leverage Leverage is 1:1000 on a Mini account, 1:500 on a Standard account, and 1:200 on ECN account. Trading platforms IKOfx offers its services on two platforms – MetaTrader4 and IKOfx WebTrader. MT4 is available in 2 variations, a desktop one and a mobile one. MT4 provides plenty of tools and functions which are necessary for a trader: fast orders execution, a number of technical indicators, an extended charting package, and a wide range of expert advisers (EAs). IKOfx WebTrader is a trading web-based platform that allows traders to login with their IKOfx MT4 username and password without any setup. In fact, this is the only advantage. Services The broker has a Forexpedia that explains the trading principles in the international currency market. Support service The broker specifies a single UK phone number as the method of communication. You can also contact the broker via sending an email or via live chat. The broker is active on social networks such as Blog.IKOFX.com, Twitter, Facebook, and LinkedIn. You can follow the updates of the company subscribing to any social network as well as to its official website. Payment options The following payment options are offered to IKOfx customers: credit/debit cards (Visa & MasterCard), wire transfers, and Perfect Money. Feedback IKOfx is an experienced offshore broker who provides typical conditions for trading currency pairs and precious metals on MT4 and IKOfx WebTrader. Traders mainly complain about draining their money by the broker. Advantages:
Disadvantages:
2/10
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IKOFX platform is awesome, As I can trade smoothly on the MT4 platform, where I get tight spread and instant execution too. All of my orders open or closed perfectly and their payment is always timely. Which encouraged me to deal with Fort Financial Services. Till now I've earned $640 and withdrawn this profit without any issue. So I am happy a trader with the IKOFX broker!
Three months ago, I won a contest with sizable bonus for the prize. But until now the parties of the IkoFx couldn't be confirmed and seemingly didn't concern me. I didn't feel any profit but only feel many losses. The platform is not stable as it always automatically turned-off. They stopped my trades without any announcement and block my account and did not inform any reason. And the main point is They have a lot of server problems which causes orders not getting closed on TP or SL which causes a lot of losses.
Opening a mini account at IKOFX is very easy because you can invest as low as 1 dollar. However, the fee is too high. For me, it is unreasonable that the spread is too wide when your capital is very small.
Compared to previous brokers, Ikofx is more disadvantageous. In 5 months, $1250 was gone. They say on the website that they have a bonus. But not at all. They don't have easy-to-understand analysis. There are no good results from this broker.
One of the reasons I opened an account at IKOFx is the fact that they don't have a required minimum deposit. This means that I can start with any amount that I could afford. Hence, I started with 50 dollars. I started small and made myself familiar to the market system and I gradually add funds to my account. Now, I can say that I am earning well thanks to the productive trading environment of this broker.
I started with $450, trading so far on this platform has been fair and I have been able to make some little profits for myself. Every things perfect because I trade use the MT4 New Grade account, one of the most advanced technologies in foreign exchange dealing now day. I have earned $207 and I didn't get any problem to withdrawal my profit. I think Ikofx broker is a perfected for me and trusted for my investment.
I have not seen any issue during join IKOFx. I got profit almost $1200 from 10 times trading. Their bonus was amazed me. During WD my profit, they even give me a bonus. They also keep on improving and adding more services as I've noticed in the past few months. I will improve my deposit here next month for getting more profit.
Beside their MT4 platform execution is fast and it is organized with advance tools.
I have traded with IKOFX for 3 months, used both their mobile and desktop app, enjoyed their crowd data and made some modest profits. And the best things is they send me free signals sent via email is about 80-90% accuracy. In fact I took my $480 up to $1250 in a three months. Until now I have made two withdrawal, yesterday was my second withdrawal of $500 just takes only one day to processed. Button lime. I am very happy.
I have been trading at IKOFX for the past two years and so far, everything is going well. The customer support team of this broker gives a lasting impression and I mean it the positive way. The reason I was convinced to open an account at this broker is because I felt the sincerity of the support team. They patiently answer all of my queries even though some of them can be easily found on the website. Now that I am trading for two years, the support team remains to be responsive and accommodating.
I have traded for over 3 years now and tried many brokers. I can honestly say IKOFX has been the best by far. I opened an account 4 months ago. I am mostly a news trader, and slippage and spread are important for me. I found that their spreads are very low, the execution is good, the slippage has been bidirectional. I love their easy withdrawals, back in my account in less than 4 hours. My last withdraw of $600 takes only 2 hours to be processed. Highly recommend them as a broker.
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