IKOFX.com Review

3.273 • 9 REVIEWS
Updated: Feb 2, 2024
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IKO FX is a forex broker. IkoFX offers the MT5 and MetaTrader Mobile forex trading top platforms. IkoFX.com offers over 25 currency pairs, gold and silver for your personal investment and trading options.
IKO has been deregistered as a Financial Service Provider in New Zealand as of April 18, 2015.  CLICK HERE to verify.

July 2012:  The FPA's forums were spammed by someone promoting Obox.com.pk, an IB for IkoFx.  A second account was created from the same location spamming for UmoFx.com.  The FPA reported this incident to IkoFx and UmoFx and has recieved no response from the management of either company.  The FPA is forced to conclude that the managers of UmoFx and IkoFx think that spamming forums is acceptable.

Click here to see the spam from Obox.com.pk, an IB of IkoFx.com

Click here to see the spam from UmoFx.com

The FPA advises a very high level of caution dealing with these companies.

Sept-Oct 2010:  Several fake positive reviews submitted.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 1000:1
Minimum to Open Live: $1
Established: Unknown
Address: Vantu House, 133 Santina Parade, Elluk, Port Vila, Efate, Vanuatu
Contact: support@ikofx.com, +4420 8133 4588
Regional offices:
Regulators: VFSC #14547
Prohibited countries: Unknown
Trading platforms: MT5
Web Trading: βœ… Yes
Mobile Trading: βœ… Yes
ECN: βœ… Yes

Trading Instruments

Currencies: (25+)
CFD: (2) Gold, Silver

Trading Conditions

EAs/Robots: βœ… Yes

Managed Accounts & Social Trading

MAM: βœ… Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Local Bank Deposits, PerfectMoney
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Local Bank Deposits, PerfectMoney
* Please check broker website for more information
3.273 • 9 REVIEWS

Recent User Reviews of IKOFX.com

Aug 17, 2018,
Registered user

I have traded with ikofx for the last 8 years...the best broker, never cheated, fast execution, withdrawal is very easy...
Chocen, Czech Republic,
May 11, 2015,

IKO FX has been deregistered as the Financial Services Provider and therefore terminated as a scheme member with the Financial Dispute Resolution scheme, effective 20 April 2015. For more, see http://www.fdr.org.nz/member_search/scheme_member/597601
Therefore, one loses a very effective dispute resolution option and I do advise against sending them ANY money.
Dhaka, Bangladesh,
Feb 24, 2014,

I came this site trading and got huge help from there. Thanks to http://ikofx.com/
Indonesia, Indonesia,
Apr 7, 2013,

I have been traded with ikofx for the last two years.
Everything goes well.
Instant depo via LR and withdrawal within one day
Jakarta, Indonesia,
Mar 26, 2013,

I am very satisfied to trade with ikofx

It always pay my withdrawal at any amount within one working day.

Good broker.
Seri Kembangan, Malaysia,
Oct 27, 2012,

hahahahaha .... I'm still with ikofx and very happy with the fast services the provide. It almost 2 years already and also like to hear bad comment from the traders and always laugh on thiers comments.

I got an email invited by ikofx to join thiers seminar and will joining them indeed.... huh what a good brokers it is while others brokers that assuming a good brokers by traders did not offer this in Malaysia - hahahaha...


2012-04-10 4 stars I've already using this Brokers for more 12 months. It good and very fast withdrawal. The daily open is at 08.00 am Malaysia Clock and is very suitable to me and my technic. Keep it up a good service ikofx. This week-end they will give us dinner in Malaysia. Bulls*** for all the bad reports for ikofx.
sabah, Malaysia,
Dec 31, 2011,

IKOFX accuse us of trying to manipulate the market movement, but actually they have manipulated the rules to prevent us to claim benefits.For example sculping regulations not less than 2 minutes and regulations arbitarge sculping.
1st case - all profit money deleted with sculping arbitrage reasons and trade less than 2 minutes.
2st case - We make all trade more then 2 minit... all profit money deleted with same reason arbitarge sculping, even though it trades more than 2 minutes. SO ???? HOW TO TRADE HERE ?
Spread the currency pair is also increased without notice. Without realizing it also occurs pips shading.
Aug 30, 2011,

They like to hunt stop loss. I used to trade news with Iko and at last lost all my money during non farm payroll in July. I checked with other broker's candle and nothing in common. My conclusion is Iko tried to hunt stop loss. I complained and Their responses is "Dear Sir/ Madam,

Thanks for your e-mail.

Regret to inform that we are unable to meet your request. Every broker high, low and current price was directly feed from their liquidity provider. When there are 2 brokers using 2 different liquidity provider, then may result in different price high/low.

Thank you for contacting us."
Aries Lee
Nov 28, 2010,

I just joined forex 2 weeks ago and registered with ikofx.com. Then, I do research on EA and those forex indicators. I found out that FPA is instead a very good forex website that help millions of investors who trade currency and help us find SCAM forex company.

I haven't found out anything with IKOFX since I am still new if IKOFX but I saw so many negative reviews here in this forum.

I doubt with the broker in Malaysia who deposit my money for the rate of 3.7 and withdraw for the rate of 3.5 (current rate is 1USD to 3.12RM. It is normal for the different for the rate of 0.58?). I am currently deposited 270USD. I am wondering if I have 1000USD in my account and want to withdraw 1000USD then my broker will loss 277RM. [(730USDX3.5) - (730USDX3.12)] X [(270USD X 3.7 - 270USDX3.12)] rounded.

Is this forex company a SCAM? How can I ask FPA for help to investigate this company?

Review Moderation Team Note: That does seem like a very steep spread for a Forex Brokerage to charge clients. We recommend that you contact them to verify it.

If you can't get reasonable answers, leave a followup review here and start a thread in the FPA's Scam Alerts Folder.
Sep 4, 2010,

I think you are too confident with your trading, so bring myself to trade full-time news on the margins, uncertain trading world price movements, so when you loss your looking for excuses for it and assume the broker is wrong, whether it is the character of a trader? I am also trading loss when the trade was never news. I think you need to fix your character in the betting. Thank you.