Independent rating of Forex broker IKOFX

About company

IKOFX is a global online Forex trading provider. The company is also known as Global Limited IKO. It has been in the forex market for over 5 years. The broker’s headquarters are in Vanuatu. Notably, the company’s official website does not contain any information on the regulatory body, as well as its history. IKOFX website is in English, Chinese, and Indonesian. The website was updated for the last time in the summer of 2018.

Trading conditions

KOFX offers its clients various types of trading accounts. All accounts are available for trading through MetaTrader 4.

The company’s customers can trade over 20 currency pairs as well as gold and silver.

In addition, IKOFX traders can use Expert Advisors available for MetaTrader 4.

The company offers three types of trading accounts: Standard (a $2,000 minimum deposit), ECN (a $1,000 minimum deposit), and Mini (a $1 minimum deposit). Clients can try their hand on a demo account.

The broker offers traders a 40% deposit bonus. On top of that, the company invites customers to join its affiliate program. Also, the official website features Forex trading information, training materials, economic calendar, news, and analysis articles.

Trading platform

Trading with IKOFX is available for MetaTrader 5 as well as iPhone, iPad, and Android mobile apps.

Support service

Clients can contact the support service by email or via Skype. The broker’s Live Chat support is available 24/5.

Deposits and withdrawals

IKOFX offers three different deposit methods: wire transfer, local depositor (only applicable at certain location), and electronic payment systems. The broker considers these transaction methods to be the most reliable.

Traders’ reviews

Mostly, clients complain about the delayed response from the support service, trading software freeze-up, and problems with profit withdrawing. The majority of reviews about IKOFX on the Web are negative. Traders call the company a scam broker whose main purpose is money laundering. Unfortunately, we have not found any positive comments about the company's activity.

Advantages:

• low initial deposit
• demo account

Disadvantages:

• negative feedback
• outdated and uninformative website
• limited ways to withdraw profits

Conclusion

At first glance, IKOFX has a wide selection of assets and favourable trading conditions. However, the broker’s website is rather uninformative. Moreover, the company's News section has not been updated since 2018. A huge number of negative reviews on the Internet damage the broker's reputation. Based on the feedback of traders, IKOFX should be blacklisted.