Ikon-Royal.com Review

4.187 • 67 REVIEWS
Out of business
Updated: Apr 13, 2022

Website is down.  This branch of IkonGM seems to be out of business.

Related websites include IkonFx.com and IkonGM.com.

Formerly RFXT.com

 

Ikon-Royal.com
Out of business
4.187 • 67 REVIEWS

Recent User Reviews of Ikon-Royal.com

B
blashyrkh
georgia,
Nov 16, 2010,
Guest

I think this company is closed. there are all the signs of it, seems they are not good after they have experienced some problems with regulations...
G
Greenqueen
To;ledo,
Oct 15, 2010,
Guest

Great company, support, the whole enchilada....BUT no longer in the US retail forex market...Bummer, any suggestions for a REPUTABLE broker?
J
John Liu
L.I. NY,
Dec 18, 2009,
Guest

no problems with execution; stable platform; good spreads; good support; overall would recommend trying.
J
Jeff
Bedminster NJ,
Nov 21, 2009,
Guest

Overall I'm happy with the ease in which withdrawal/transfer was completed, and so far I think their Ikon Viking (ECN account) has been running smoothly, spreads are good, (important for my scalping strategies) will keep you guys posted (I'm new to the Viking platform) and may upgrade to best and excellent if the trade fills and spread stays consistent, til next time much prosper
K
kelly
usa,
Sep 24, 2009,
Guest

just opened an account. so far so good. did the required volume and just receied a 1500 bonus. not bad at all. will keep you posted if there is any funny business!
B
Bruce H
Van Nuys, CA,
Aug 20, 2009,
Guest

I've used IKON-Royal for over a year. I was very happy with them until they had to implement the new NFA rules for FIFO and no hedging. Their implementation has made the MT4 platform very cumbersome to use. If you use the MT4 TP and SL there is a chance you may be charged double spread. They recommend using pending orders (buy limit, sell limit, buy stop, sell stop) for your SL and TP which gets tedious when trading. It also means that all your position remain open until 5PM ET the next day cluttering up the chart. The MT4 reports are no longer accurate and you have to use their backoffice reports which are not very useful. They are HTML reports with no export feature and the realized trades are in the currency of the trade, so on some trades you can only see how much your profit/loss was in Japanese Yen, or Canadian Dollars and it doesn't tell you how much it was in USD. I'm going to switch brokers because they now just make you jump through too many hoops to trade MT4. Thank you NFA!
S
Scott T
California, USA,
Aug 8, 2009,
Guest

Been live with Ikon for a few months. Prior to going live, I would randomly call their help line with (fake) questions, on 3 seperate occasions I was talking to an informative and helpful person within seconds.

Trade execution is flawless, I am a scalper 90% of the time and slippage has not been an issue. On most occasions when I click to close a trade and if during the course of the transaction the pair ticks in my favor, I am given the extra pips. The spread is better than anyone I've found, the only time I've seen the EUR/USD widen more than 2pips was yesterday during the non-farm payroll announcement (EUR fell off a cliff, -48Pips in 1 min.)

I couldn't be happier with Ikon, the only bad thing going for them is their requirement to abide with the completely counter productive NFA rule (2-43) not to mention the anti hedging. Perhaps they focus on performance to keep customers who want to stay with a US based broker?
N
Nick D
USA,
May 22, 2009,
Guest

Last month I opened a gbp/usd hedged trade with Ikon-Royal and without notice they closed my trade on 5/18/2009. I spoke to Ted who said he was the manager and he said he closed the trade because he could and he did me a favor by stopping the swap from adding up. I believe the reason they closed my trade was to keep me from turning it into a profit. Because of them closing my trade I lost 14k. The new hedgeing rule states that you can leave a hedged trade open if it was opened before 5/14/2009. This is nothing more than stealing. If they can close my trade for no reason then they can close any trade. This is a scam and they are nothing but crooks. I recommend that you stay as far away from this broker as you can if they can steal my money they will steal yours.
P
Paul D.
USA,
Apr 7, 2009,
Guest

I don't typically post review but after being so satisfied with ikon royal I felt I had to share. Especially since FPA was the way I found them.

I've tried a few other MT4 brokers before I gave ikon royal a try - i just wish I found them sooner. It's a complete 360 compared to previous brokers that I have dealt with. Whenever I call someone always answers the phone right away and answers my question, I don't get transferred - I get answers.

Beside getting answers - I'm getting the best pricing that i've seen. I'm trading on their PRO account and so far very happy with their execution. It saves me 4 bucks per lot which adds up since I do about 50-60 lots a day.
P
Phil Lee
Jackson Heights,
Mar 28, 2009,
Guest

I started trading with MT4 and have never used another software to trade FX. I stumbled upon Ikon-Royal's name searching via search engines and became instantly intrigued. I've traded with them long enough to get a feel for the company.

I've always found that there is always someone there to answer my call which is fantastic considering I tend to have many questions.

Judging from the many conversations I've had with their reps. I can guage that their understanding of the MT4 platform is far superior to other people I've spoken to. Of course there will always be questions that are harder to answer than others but I've always recieved an answer either right away or just a call back away. I view them as my go to guy when it comes to MT4 questions or FX questions in general due to their expertise and professional demeanor in which my questions are handled.

My one gripe is that account approval took a little long, partially my fault I guess. This does say something good about the company because it's comforting to know that even the little guy like myself gets the proper attention that is needed.

Hope this helps. Happy Trading!