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IKON Finance Review
IKON Finance was a UK forex broker that left the retail market in 2017 after an FCA order. It is no longer taking clients and Companies House lists it for strike off.
Min Deposit
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Spreads From
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Max Leverage
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Pros
- IKON was once a well known retail forex broker with FCA and NFA licensed arms
- London's High Court threw out a 370 million dollar fraud claim against it in 2018
- It sold its UK clients to Hantec Markets rather than leave them stranded
- It agreed to an FCA voluntary requirement rather than fight its regulator
Cons
- IKON Finance left the UK retail forex market in 2017 and never returned
- A US court ordered its Global Markets arm to pay 22.9 million dollars for fraud in 2017
- Companies House now lists it as active with a proposal to strike it off
- Scammers have used the IKON Finance name to run a clone firm scam
IKON Finance was a London forex broker inside a wider group controlled by Turkish businessman Engin Yikilmazoglu. Its US arm, IKON Global Markets, held an NFA license. At its peak, IKON was a well known name in retail forex trading with clients around the world.
In March 2017, IKON Finance agreed to a voluntary requirement with the FCA and stopped processing client orders. It then sold its UK retail clients to Hantec Markets and left the retail forex business. In the United States, a court ordered IKON Global Markets and three former principals to pay 22.9 million dollars over a separate fraud claim in 2017.
In 2018, London's High Court threw out a much larger 370 million dollar fraud claim against IKON Finance and related parties, calling it unmeritorious. Even so, IKON never returned to retail forex. Companies House now lists IKON Finance Limited as active with a proposal to strike it off, so this page does not recommend signing up with it.
Max Leverage
Not applicable
Spreads From
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Regulation, fund safety, track record
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