IKOFX Broker Review

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

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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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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

4/ 5

No

MT5

IKOFX

IG

4.5/ 5

Yes

MT4

L2 Dealer

ProRealTime

Pepperstone

5/ 5

Yes

MT4

MT5

cTrader

TradingView

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.