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Ikon Finance Review

  • Regulated by: Financial Conduct Authority
  • Safety: segregates client funds
  • Trust Rating: B
Open Ikon's Website

Losses can exceed deposits. Your capital is at risk.

Ikon Finance two ways: Forex, Social Trading.

To open a live account, you’ll need a minimum deposit of at least $200. Alternatively, Ikon Finance offer a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 525113 ). Ikon Finance puts all client funds in a segregated bank account and uses tier-1 banks for this. Ikon Finance have been established since 2011, and have a head office in .

Before we dive into some of the more detailed aspects of Ikon Finance’s spreads, fees, platforms and trading features, you may want to open Ikon Finance‘s website in a new tab by clicking the button below in order to see the latest information directly from Ikon Finance.

Open a demo account Visit Ikon

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
Your capital is at risk.

Ikon Finance screenshot

PROS

  • Segeregates client funds
  • Established in 2011
  • Regulated by Financial Conduct Authority
  • Min. deposit from $200

CONS

What are Ikon Finance's spreads & fees?

Like most brokers, Ikon Finance take a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on Ikon Finance’s website. The colour bars show how competitive Ikon Finance’s spreads are in comparison to other popular brokers featured on BrokerNotes.

Ikon Finance fixed spread is not available. If you believe this is incorrect please fill in our form

Speads are dynamic and are for informational purposes only. Last updated: June 06, 2018.

As you can see, Ikon Finance's minimum spread for trading EUR/USD is 0.0 pips - which is relatively low compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Ikon Finance vs. similar brokers.

See all Spreads Your capital is at risk.

How much does Ikon Finance charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with Ikon Finance at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $0. Here’s a rough breakdown of the fees and how this compares against Plus500 & AvaTrade.

Ikon Finance Plus500 AvaTrade
Spread from: $0.00 $6.00 $7.00
Typical overnight fee: $0.00 $9.40 $5.00
Commission: $0.00 $0.00 $0.00
Total cost of a 100k trade: $0 $15.4 $12
$15.40 more $12.00 more
Visit Ikon Visit Plus500 Visit AvaTrade

Your capital is at risk. All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018.

General Fees

  • Ikon Finance doesn’t charge inactivity fees*
  • Ikon Finance doesn’t charge withdrawal fees*

Commissions

  • Ikon Finance does charge commission on CFD shares

What can you trade with Ikon Finance?

FX / Currencies Ikon Plus500 AvaTrade
# of forex pairs offered 45 61 59
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs Ikon Finance Plus500 AvaTrade
# of commodities offered 0 17 16
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Indiced & Stock CFDs Ikon Finance Plus500 AvaTrade
# of Stocks offered 0 1816 99
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See Ikon's Instruments See Plus500's Instruments See AvaTrade's Instruments
Your capital is at risk.

What’s the Ikon Finance trading experience like?

1) Platforms and apps

Ikon Finance offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. Ikon Finance also offer their custom IkonProdigy platform.

Ikon Finance Screenshot See Ikon's Platforms

Ikon Finance also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See Ikon's platforms Your capital is at risk.

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Accounts offered:

  • Demo account
  • Micro account
  • Standard account
  • ECN account
  • Managed account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

Ikon Finance allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As Ikon Finance offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you’re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments, but as a guide, Ikon Finance offer margin up to 0.01 on currencies.

Finally, we’ve listed some of the popular funding methods that Ikon Finance offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer
  • Skrill
  • Payoneer
  • Neteller

3) Client support

Ikon Finance support a limited number including English, and Chinese

Ikon Finance have a BrokerNotes double AA support rating because Ikon Finance offer live chat, phone, email support and less than three languages.

4) What you’ll need to open an account with Ikon Finance

As Ikon Finance is regulated by Financial Conduct Authority, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore Ikon Finance’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Ikon Finance you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.ikonfinance.com/ on March 21, 2018.