IKOFX Review 2024
Regulation:
  • VFSC

IKOFX Review 2024

Updated:
Updated: October 06, 2023

Attention!

This brokerage company is on the Blacklist. Working with companies on the Blacklist carries high risks of losing your money. We continuously monitor the Internet in order to identify new scams aimed at defrauding traders, and categorically do not recommend working with companies on the Blacklist.

We advise traders to choose reliable and trustworthy licensed companies from among top brokers of our rating:

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Editorial Note: We are unable to verify the validity of reviews and publish all reviews, both positive and negative, in accordance with the Users Reviews Policy.

Summary of IKOFX Trading Company

IKOFX, also known as IKO Global Limited, is among the world's top Forex brokerage companies. The company is regulated by Vanuatu Financial Services Commission under reg. number 14547. As a regulated financial service provider, it is a trusted and reliable partner for traders from all over the world.

Geographic Distribution of IKOFX Traders

Popularity in

68.3%
MY
Malaysia
27.4%
ID
Indonesia
10%
SG
Singapore
2.3%
Others
Others

User Satisfaction i

6 comments
Total score:
3 /10

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PharmacieEnkic
1 year ago

Yes, recently this broker has had problems with execution. Stop did not close for an hour! Don't come in, don't go out! Just awful!

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marshallmarcell88
1 year ago

Recently, negative trends have been observed in this company. A stop order has not been triggered several times already. Support cannot guarantee anything. I'm thinking about changing broker.

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taniazn2
2 years ago

I opened an account with the IKOFX broker on the advice of a trader I know, but I was not particularly impressed by its conditions. There are a little more than 20 currency pairs available. Of course, there are all majors, but the exotic pairs are just plain crying. You can trade gold and silver, but the commissions for them are not the most profitable on the market. Most of the methods available for depositing and withdrawing funds are paid here, only Perfect Money does not charge a commission. I advise you not to use a bank transfer at all: you will have to pay $ 25 for withdrawing money, and $ 12-50 for making a deposit. As for passive income. In IKOFX, it can be obtained using the affiliate program and MAM accounts. So far, I'm trading with this broker, because he withdraws money.

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pipbanker
2 years ago

I completely arranged their demo account and how long did I spit from real money in ikofx. In general, heaven and earth! I don't understand how you can lie to customers so much! Sooner or later, you will still be taken out to clean water! Minus one client in my face already exists. Who is next?

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Bob
3 years ago

They advertised the Status WebTrader platform as a suitable option for those who are just starting out. Nifiga like that! Here, in general, the devil will break his leg and what is most terrible is the regular hang-ups. And even if you have an awesome provider at least 100 times and there are no disconnections, ICON FX will still not trade smoothly, and you will also be accused of poor Internet connection.

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LuckyFx
3 years ago

At IkoFx com, a complete mess is going on. Not only does the trading platform freeze constantly, but it is also impossible to place orders. Rather, it is possible to postpone. But it doesn't work. For the fourth time, a pending order has not been triggered. I wrote to the support service, they said that they were dealing with this. But they figure it out for a very long time, and it is impossible to trade.

Trading Conditions for IKOFX Users

💻 Trading platform: MT4, Web Trader, Mobile Apps
📊 Accounts: Mini Account, Standard Account, ECN Account
💰 Account currency: USD
💵 Replenishment / Withdrawal: Bank Wire Transfer, Local Depositor, Credit Card, Perfect Money, Liberty Reserve.
🚀 Minimum deposit: $1 USD
⚖️ Leverage: 1:1000
💼 PAMM-accounts: No
📈️ Min Order: 0.01
💱 Spread: From 0.2 p
🔧 Instruments: Currency Pairs, Commodities
💹 Margin Call / Stop Out: 100/30%
🏛 Liquidity provider: No
📱 Mobile trading: Mobile Platforms
➕ Affiliate program: Yes
📋 Orders execution: Market execution
⭐ Trading features: No
🎁 Contests and bonuses: Deposit Bonus

Contacts

Foundation date 2010
Registration address Vantu House, 133 Santina Parade, Elluk, Port Vila, Efate, Vanuatu
Regulation
Official site
Contacts

We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.
IKOFX Review IKOFX Review

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FAQs

Why has IKOFX been placed on the Forex Broker Blacklist?

Possible reasons:
• multiple complaints have been filed against IKOFX by traders claiming the broker failed to fulfil its obligations, including process withdrawals;
• the website of IKOFX is down, not updated or operates with clear errors and some features are not available;
• IKOFX has been blacklisted by the regulatory authority, and a warning has been published on the regulator’s website.

What should I do if IKOFX got blacklisted and I still have money in my account?

Don’t panic right away. First, try to find out the reason why IKOFX got blacklisted. The situation may be temporary. Contact Traders Union client service for details. If the situation is critical, try to withdraw money. The best way to do it in parts, so that the broker does not suspect that you want to withdraw your entire balance and close the account.

What should I do if I cannot withdraw my money from IKOFX?

If your broker refuses to process withdrawals under various pretexts, your algorithm of actions is as follows:
• Get a clear response from the broker’s Support Service with reference to the clauses of the Terms of Use (User Agreement). Save your correspondence and download the transaction history from your account.
• With a full package of documents, appeal to the following organizations: the broker’s regulator or corresponding law enforcement agencies. If you make your deposit with a bank transfer, try to initiate a chargeback request.
• Share your situation on traders’ forums, add the broker to blacklists of various websites, as it will help others avoid the mistake.

Is there any chance to recover my money if IKOFX is a scam?

On rare occasions, yes, for example, if the broker was a member of a compensation fund, or upon a court’s ruling.

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