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IKOFX

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Twitter
https://twitter.com/ikofx_
Date founded
Dec 31, 2008
Demo version
Yes
Description

IKOfx STP (straight line processing) / ECN Forex is a regulated brokerage company with the main customer base in the Asian market. The broker offers 3 types of real trading account: Mini, Standard and ECN. The minimum initial deposit in IKOfx is only 1 US dollar. Users use the popular trading platform MetaTrader 4 (MT4), as well as IKOfx WebTrader

Name

IKOFX

News
Regulation

VFSC

Country

Vanuatu

Time zone

GMT

Languages

Chinese, English, Indonesian

Decimal pricing
5 Digits,
Hedging
Yes
Max Leverage

1:1000

Minimal Lot
0,01
One Click
No
Scalping
Yes
Spreads
0,20
Trading Platform

IKOFX Web Trader and Meta Multi Terminal

Bonus

Welcome on deposit bonus of 40% up to $3, 000 for deposits over $100

Currencies

USD

Currency pairs

26

Deposit methods

Perfect Money

Minimum Initial Deposit

$1

Mini Account:

$1

Standard Account:

$2,000

ECN Account:

$1,000

Premium:

N/A

Withdrawal methods
Credit card (VISA/Mastercard), Bank wire,
Support URL
ikofx.com
Contact phone

+442081334588

Contact email

Overview

IKOFX is an online forex broker that was established in 2009 by IKOFX LTD, the company is located in New Zealand, but it is licensed and controlled by the (VFSC) Vanuatu Financial Services Commission.

IKOFX offers its clients forex trading opportunities via single-click trade and Straight Through Processing (STP) implementation. The broker targets all types of clients and focuses on providing trading opportunities such as precious commodities and a variety of currency pairs to Asian customers.

It also offers a range of account choices including the Islamic law swap-free account, which makes it ideal for all types of clients who wish to participate in the forex market.

Clients can access the broker’s services and trading opportunities through two types of trading platforms: the MetaTrader 4 platform and the in-built IKOFX Web Trader. The platform features a user-friendly interface which allows the clients to complete transactions quickly and navigate through the site quickly.

 

Features

Trading Accounts Options: IKOFX provides a variety of trading accounts to their clients. These are a primary account which requires a minimum initial deposit of one US dollar, a Standard Account which targets the skilled traders and requires two-thousand dollars initial deposit, and an ECN account which requires a thousand US dollars initial deposit. All the account options offer the clients favorable leverage to ensure that all types of traders regardless of their skill enjoy great trading opportunities.

The primary account and the standard account are commission-free and offer fixed spreads. The ECN account, on the other hand, offers variable spreads and charges a transaction fee.

Also, the clients can access a free demo account and Islamic laws swap-free services offered by the basic account and the standard account only.

Trading Platforms: IKOFX clients are offered with a chance to choose between two trading platforms. The IKOFX Web Trader which allows traders to access trading opportunities and services provided by the broker by login to the site using the same identification details as those required by the MetaTrader 4. It also does not need the users to install it in their devices before use. The IKOFX Web Trader platform is available to the clients in various versions to be used on different devices. Clients can access their accounts using iPhones, desktops, and Android devices.

They also provide the MetaTrader 4 trading platform which provides traders with several features to make trading activities easier to execute. It also supports the quick implementation of trading orders and offers a variety of advanced trading services such as market indicators highly developed charting tools, graphical information, and tools, and also allows them to create and utilize (EA) Expert Advisors to automate trading activities. The MetaTrader 4 trading platform is offered both as mobile and web-based versions.

Besides, IKOFX provides its clients with an alternative to use FX-Coliseum which allow traders to access trading information and services from other forex brokers through the MT4 trading platform.

Bonuses and promotions: IKOFX clients are provided with several promotions and bonuses which are available for all types of accounts. These include the initial deposit bonus offered after opening a trading account.

Methods of Payment: The forex broker provides a variety of payment options for their clients to use for withdrawal and deposit transactions. Available payment methods are debit and credit cards, direct bank transfers, Perfect Money, MasterCard, among other efficient means of payment.

Customer Support Services: IKOFX clients can contact the customer support team either by email or using the live chat feature on the site. They can also access Forex education for Free from the company’s site training section. In addition, clients can call the support team and inquire about the company’s services and get a solution to various issues.

 

Advantages

  1. Offers its clients a favorable trading environment
  2. Choice of trading platform is available
  3. Clients can enjoy various bonuses and promotions
  4. Provides ECN trading environment which allows quick trading implementation

 

Disadvantages

  1. The broker is not well regulated since an offshore authority licenses it.
  2. Clients cannot enjoy a variety of trading opportunities
  3. The key focus is on the Asian market
  4. Requires minimum initial deposit to open accounts

 

Conclusion

IKOFX provides a range of trading accounts to their clients. These include basic account, a Standard Account for the skilled traders, and an ECN account. All the account options offer the clients with a favorable trading environment to ensure that all types of traders regardless of their skill enjoy great trading opportunities.

They also use two trading platforms: the IKOFX Web Trader and MT4 which are user-friendly allowing traders to access trading opportunities and trade easily. Consider the forex broker as your ideal choice if you have an interest in forex trading.

Screenshots
Pros & Cons
  • Competitive trading conditions, MT4 available, Bonuses offered, ECN environment available
  • Registered offshore
  • No indices and stock CFDs

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