IkonMarkets has been flagged by Financial Services and Markets Authority for "Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I had a dispute with IkonMarkets and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Real-time alerts|Good mobile app
Cons: Wish they had more educational resources
Tried to withdraw my funds from IkonMarkets and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
After doing some research AFTER the fact (I know, I should have done this first), I discovered that IkonMarkets is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Blocked my account|No legitimate license|Fake returns
The platform at IkonMarkets is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After for a couple of months now of dealing with this, I have had enough.
Pros: Regular platform improvements|Easy withdrawals
Cons: Slow to add new assets
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that IkonMarkets has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Cons: Unauthorized firm|Found in IOSCO warnings database
After using IkonMarkets for close to eighteen months, I decided to move my account elsewhere. The platform was unreliable, withdrawals took an unreasonable amount of time, and I could never get a straight answer from customer service. Frustrating experience overall.
Pros: Intuitive for beginners|No hidden fees
Cons: Spreads widen during volatile periods|Search feature is basic
I signed up with IkonMarkets after doing extensive research and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Great customer service|Multi-currency support
Cons: Live chat only during business hours
I lost a significant amount because IkonMarkets did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Social trading features|Demo account available
Cons: Limited demo account features
I looked into IkonMarkets and found they appear in the regulatory warnings database. Financial Services and Markets Authority has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
I have been trying to close my account with IkonMarkets for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Instant funding|No hidden fees|Professional team|Smooth onboarding
Cons: No integrated tax optimization