IKOFX Broker Review

Author By Jeffrey Cammack
Updated: September 18, 2021
Overall Rating
2.62 2.62 / 5
🏦  Min. DepositUSD 1
🛡️  Regulated By
💵  Trading Cost 
USD 20
⚖️  Max. Leverage1000:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
AlertTradeForexSA does NOT recommend IKOFX due to insufficient regulation. We suggest you continue your search using our approved brokers list.
Last updated on 18 Sep 2021
by Editorial Director Jeffrey Cammack
Jeffrey Cammack

TradeForexSA has been South Africa’s most trusted Forex broker review site since 2012. Our team has written 100+ broker reviews and we constantly test to maintain accuracy. This is how we review brokers.

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Our verdict on IKOFX

IKOFX, also known as IKO Global Limited, is an STP broker registered in Vanuatu but unregulated. It has support for MT5 and leverage up to 1:1000 on its Mini Account.

With simple account options, one-click trade execution, and optional swap-free Islamic accounts.  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, and fast execution and minimal slippage on the ECN account.

 

🏦  Min. DepositUSD 1
🛡️  Regulated By
💵  Trading Cost 
USD USD 20
⚖️  Max. Leverage1000:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Overall Summary

Regulation
100001/ 5
Trading Conditions
1110.503.5/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
100001/ 5
Education & Research
10.50001.5/ 5
Assets Available
1110.503.5/ 5
Customer Service
1110.503.5/ 5
Beginner Friendly
Standard
Welcome Bonus

Account Information

Base Currencies
Number of FX Pairs
26
Crypto Pairs
0
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Account Name
Trading Desk
Commission
Fees Included in Spread
EUR/USD
0.86 pips
GBP/USD
1.84 pips
USD/JPY
0.97 pips
Negative Balance Protection

Company Details

Company Name
IKO Global Limited
Founded
2008
Website Language
English
Support Language
English
Office Locations
Vanuatu

Is IKOFX Safe?

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.

However, TradeForexSA does NOT recommend IKOFX due to insufficient regulation. We suggest you continue your search using our approved brokers list.

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Additional Fees
VFSC
Market Maker
2008
Vanuatu

 

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:

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Account Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
ECN
USD 1000
200:1
2
Spread Only
Account Details
Mini
USD 5
1000:1
2
Spread Only
Account Details
Standard
USD 2000
500:1
2
Spread Only
Account Details

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.

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Broker
Platform Choice
Copy Trading
Platforms
IKOFX
111104/ 5
IKOFX
CM Trading
111104/ 5
Sirix
IQ Option
111104/ 5
IQ option

 

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.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the IKOFX product offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

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.

AlertTradeForexSA does NOT recommend IKOFX due to insufficient regulation. We suggest you continue your search using our approved brokers list.
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