IKON Global Markets

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BrokerIKON Global Markets
CompanyIkon Global Markets Inc.
Year since1999
HeadquartersNew York, United States
RegulationNFA (ID #0327622), CFTC.
ModelECN & MM
US Clientsno
Min Deposit($)1000
ECN Account Min Deposit($)1500
ECN Commission($)/rtl(Round Turn Lot)2
Offer Fixed Spreadno
Offer Variable Spreadyes
EURUSD Lowest spreads (pips)
Account CurrencyUSD, GBP, CHF, AUD, CAD, NZD
Max Leverage50
Minimal Lot0.01
Deposit MethodBank Wire
Withdrawal methodBank Wire
Scalpingyes
Hedgingno
All EAs Allowedno
Currency Pairs52+
Goldyes
Gold Spread(100oz)
Silveryes
Silver Spread(5000oz)
Oil
CFDsno
Other InstrumentsFutures, Options, Commodities
MAM/PAMM AccountsMAM
Managed Accountsyes
Swap-free accountsyes
Segregated Accountsno
Interest on Marginno
Bonuses & Rewardsno
Trading contestsno
Trading platformIKON Prodigy, IkonFutures
Platform Execution
Platform Time ZoneGMT+2
Trailing stopsyes
OCO ordersyes
One-click executionyes
Trade with mobilephoneyes
Trade in browseryes
APIyes

Company: Ikon Global Markets Inc.

IKON Global Markets13

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3 thoughts on “IKON Global Markets

  1. NFA PERMANENT BAR (08/21/2013) says:

    Rating

    • PERMANENT BAR FROM PRINCIPAL STATUS
    • PERMANENT BAR FROM NFA MEMBERSHIP

    Narrative for 0327622 – IKON GLOBAL MARKETS INC
    **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS.**
    COMPLAINT:

    On April 18, 2013, NFA issued a Complaint charging IKON and Jagannath with failing to cooperate with NFA during NFA’s 2012 audit of IKON by refusing to produce all bank records requested by NFA for IKON’s affiliated companies.

    DECISION:

    On August 6, 2013, following their previous voluntary withdrawal and pursuant to a settlement offer submitted by IKON and Jagannath, the BCC issued a Decision providing that IKON shall not reapply for NFA membership at any time in the future and Jagannath shall not reapply for NFA associate membership, or apply to be an NFA Member or act as a principal of an NFA Member at any time in the future.

    Narrative for 0226959 – JAGANNATH, DIWAKAR
    **TO VIEW DOCUMENTS, GO TO CASE DOCUMENTS.**
    COMPLAINT:

    On April 18, 2013, NFA issued a Complaint charging IKON and Jagannath with failing to cooperate with NFA during NFA’s 2012 audit of IKON by refusing to produce all bank records requested by NFA for IKON’s affiliated companies.

    DECISION:

    On August 6, 2013, following their previous voluntary withdrawal and pursuant to a settlement offer submitted by IKON and Jagannath, the BCC issued a Decision providing that IKON shall not reapply for NFA membership at any time in the future and Jagannath shall not reapply for NFA associate membership, or apply to be an NFA Member or act as a principal of an NFA Member at any time in the future.
    https://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=3563
    https://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=3664
    https://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=3564
    https://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=3665

    Did you find this review helpful? Yes   No

    Feedback: 1 positive
  2. NFA FINE $320000 (11/11/2010) says:

    Rating

    COMPLAINT:

    On October 27, 2010, NFA issued a Complaint against IKON and Jagannath that cited IKON for engaging in acts or practices regarding prices received by customers on the MetaTrader trading platform that, in certain instances, were disadvantageous to customers; failing to supervise the MetaTrader platform to ensure that all customer orders experienced slippage when prices moved in their favor just as often as when prices moved against them; and, together with Jagannath, failing to supervise the firm’s operations.

    DECISION:

    On October 27, 2010, NFA’s BCC issued a Decision accepting an Offer of Settlement submitted by IKON and Jagannath, in which IKON and Jagannath neither admitted nor denied the allegations of the Complaint and agreed to settle the case on the following terms: IKON agreed to refund to customers the amount of negative slippage they experienced on the trades that were placed in their accounts, which were attributable to the Virtual Dealer Plug-in that IKON used on its Metatrader trading platform; IKON agreed to pay $320,000 to NFA as a monetary sanction; and IKON agreed that in the future any and all slippage parameters that IKON uses in determining whether a customer’s order will be executed or re-quoted, shall be symmetrical in nature and neither advantageous nor disadvantageous to the customer or to IKON.
    https://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=2618
    https://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=2620
    https://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=2619
    https://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=2621

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    Feedback: 2 positive
  3. NFA FINE $20000 (03/19/2010) says:

    Rating

    COMPLAINT:

    On November 17, 2009, NFA issued a Complaint charging IKON with failure to observe high standards of commercial honor and just and equitable principles of trade; and failure to adopt enhanced supervisory procedures.

    ANSWER:

    On December 21, 2009, IKON filed an Answer to the Complaint in which it denied the material allegations contained therein.

    Decision:

    On March 4, 2010, an NFA Hearing Panel issued a Decision finding that IKON violated NFA Compliance Rule 2-36(c), as alleged in Count I of the Complaint, and ordered the firm to pay a $20,000 fine by April 18, 2010. The Panel dismissed Count II of the Complaint.
    https://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=2222
    https://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=2180
    https://www.nfa.futures.org/basicnet/CaseDocument.aspx?seqnum=2333

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    Feedback: 1 positive