| Company | |
|---|---|
| Name of the Broker |  Ikon GM - Royal Division |
| Accounts | |
|---|---|
| Demo account link | Demo Account |
| Live account link | Live Account |
| Ratings | |
|---|---|
| Overall Rating | 4 |
| Safety of funds | 3 |
| Software ease of use | 8 |
| Tools and resources | 2 |
| Set-up process | 5 |
| Customer support | 5 |
| Timeliness of application | 5 |
| Funding options | 6 |
| General | |
|---|---|
| Dealing desk/NDD | |
| Minimum account size | 1000 |
| Max leverage | 100:01 |
| Application processing time | 1 week |
| Fixed spreads |  |
| Fractional pips | |
| Automated trading | |
| Offer options | |
| News and Charts | |
|---|---|
| Free charts | |
| Free charts with broker feed |  |
| Premium charts w/feed | |
| Trading off charts | |
| News | |
| Economic calendar | |
| Applications and Usability | |
|---|---|
| Integrated charts | |
| Integrated news | |
| Margin watcher | |
| Trailing stops | |
| Web based application | |
| Downloadable application | |
| MT4 available | |
| Training video available | |
| Usability of software (1=poor, 5=very good) | |
| Courses and Webinars | |
|---|---|
| Free training signals | |
| Webinars | |
| Beginner course | |
| Intermediate course | |
| Advanced course | |
| Help and Support | |
|---|---|
| Phone Support | 888 347 2185 |
| Live Chat | Live Chat |
| Email support | Email Support |
| Other Details | |
|---|---|
| CFTC/NFA member | |
| FSA (London) | |
| Other (by whom) | |
| Segregated account available | |
| Segregated account standard | |
| Client funds held separate from operating funds | |
| Balance sheet available | |
| NFA member page | |
Ikon GM Royal Division is part of Ikon Global Markets, Inc a firm which is regulated by the CFTC and registered with the NFA, although Ion GM Royal Division is not individually regulated themselves. Although they are part of the larger company, not being an individually regulated themselves may cause some people a little concern as RefcoFX was not individually regulated but instead fell under Refco Group. When Refco Group went bankrupt, RefcoFX clients were not able to get their funds. Although this is unlikely it is something to keep in mind.
Live accounts of Ikon GM Royal division get access to live news, but demo clients do not. Ikon GM Royal is using the MT4 or metatrader 4 platform as well as MetaTrader Broker 4 Mobile. They also offer an introducing broker (IB) program. Live clients can deposit funds via EFT, bank wire, paypal as well as paper check.
The resources offered by Ikon GM are lacking. They provide 24 hour support via phone, email and live chat but expect a long wait during peak hours. They are also a dealing desk platform which may not be suitable for all traders. Biggest concern with this broker is safety of funds as they not individually regulated by instead are a division of a regulated firm as well as their lack of trader resources. It is also very difficult to find information about the company itself other than looking up Ikon Global Markets with the NFA. They do offer spot gold and silver through the MetaTrader platform.
Tools are resources are very sparse. They offer live news to live clients and a basic charting package.
Ikon GM Royal Division offers variable spreads through a dealing desk model. For Direct accounts spreads are as low as 2 pips for EUR/USD but get higher. For Pro accounts, which need to be started with at least $25,000, spreads are as low as 0 pips, but it comes with a $5 round turn commission per standard lot.
Ikon GM Royal Division offers no educational programs, but instead has a few pages on their website with forex basic information listed.
Ikon GM Royal Division is part of Ikon Global Markets, inc. NFA number 0327622. More information about Ikon Global Markets can be found here.
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