IKOFX

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Advantages:

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Disadvantages:

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About company:

IKOfx offers 26 currency pairs and precious metals trading on the industry standard MetaTrader 4 platform.

Founded in 2009, the IKOfx LTD trademark belongs to a company based in New Zealand. However, the broker was deregistered in the New Zealand Financial Service Provider Register in 2015 and is currently operating under the registration of the Vanuatu Financial Services Commission (VFSC).

Fund security

Vanuatu is an offshore tax-free territory where the registration procedure for Forex and binary brokers is fast and inexpensive.

In our opinion, you should always be very careful when dealing with brokerage companies registered in offshores, as some of them are real scammers, and traders have no financial protection in the event of fraud by the company or bankruptcy.

That is why we advise traders to avoid such companies and choose Forex brokers licensed in Cyprus or Australia.

Trading conditions

The broker offers 3 types of live trading accounts: Mini, Standard and ECN. It is allowed to trade without swaps on mini and standard accounts, but only at the request of the trader. Alternatively, you can open a free training account (demo account).

Minimum deposit

The minimum deposit starts from $ 1 on a mini-account. The highest deposit on a standard account is $ 2000.

Spreads and commissions

The fixed spreads average 2 pips on the EUR / USD pair. The broker's variable spreads are tight, starting at 0.2 pips, however, there is no information on the amount of fees applied on ECN accounts.

Leverage

On a mini-account, the leverage is 1: 1000, on a standard account - up to 1: 500, on ECN - 1: 200.

Trading platforms

IKOfx offers its services on two platforms - MetaTrader4 and IKOfx WebTrader.

MT4 is available for both desktop and mobile versions. This professional, fully featured software gives traders everything they need: fast order execution, a variety of technical indicators, an advanced charting package for line tools, and the ability to design and use Expert Advisors (EA).

IKOfx WebTrader is a web-based trading platform that allows traders to log in with their IKOfx MT4 username and password without any installation. And in fact, this is its only advantage.

Significant services

The broker has a Forexpedia, where he explains in articles the principles of working in the international currency market.

Support service

The broker provides a single UK phone number as the contact method. Alternatively, you can send an email or live chat.

The broker is active on the social networks Blog.IKOFX.com, Twitter, Facebook, LinkedIn. In any social network, you can follow the company's updates, also on the main website.

Ways of payment

The following payment methods are offered to IKOfx customers: credit / debit cards (Visa & MasterCard), bank transfers and Perfect Money.

Criticism of traders

IKOfx is an experienced offshore broker offering typical trading conditions for currency pairs and precious metals on MT4 and IKOfx WebTrader. Mostly brokers complain about a trader draining their money.

Pros:

low deposit; MT4; ECN environment; bonuses.

Minuses:

offshore broker; does not update the analytics section; no indices and CFDs on stocks.

FAQ - BROKER QUESTIONS IKOFX

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Can the broker IKOFX be considered honest?
Before any trading and choosing a broker, you should always read reviews on our portal, as well as on other resources. Brokers that are honest have a rating above 3.8. There is also always a risk of losing investments when trading CFDs. Be careful and read the risk warning on the broker's website. IKOFX received a rating of 1 out of 5 on our resource.