IKON Finance Review
If you want to start your trading career but also want to avoid the complications and complexities of the trading world at the same time, you will have to invest time in finding the right broker. It is your broker who decides how easy or complicated the trading is for you. Some brokers offers too much in the form of features. Unluckily, not everything they offer you is a feature and things can get distracting for you as a new trader. The last thing you want as a new trader is distractions. You want your focus on trading so you can make profits from them. IKON Finance has proven to be a broker that lets new traders focus on trading while taking care of the rest of the things.
When you sign up with this broker, you get access to financial markets from around the world, but the broker has simplified the whole process. Let’s take a look at how it is favorable for you to sign up with IKON Finance as a new trader.
IKON Finance as an Online Broker
Safety in All Forms
It does not matter how big or small a broker is or how long the broker has bene in the business for. You have to pay full attention to your security. If your broker cannot guarantee the security of your information and money, you should keep away from signing up with it. But how do you know how safe or unsafe a broker is? There are many ways to find that out. First, you have to look at the regulation information from the broker. You will usually find this information on the website of the broker. A broker who is properly regulated will provide this information proudly on the website.
IKON Finance is an FCA regulated broker. What does regulation mean here? Well, the first thing is that your broker is answerable to an authority for its financial services. How can you trust a broker if it is not responsible for its acts? When an authority regulates an online broker, the online broker is responsible for its financial activities to this authority. If there is anything wrong and shady about its services, the regulating authority will take notice of it. With regulation, it is you as a trader who is protected as well. Your money is protected because you know the broker is not going to go anywhere just like that.
There are other things that can send you a signal whether your broker pays attention to your security or not. For example, IKON Finance has anti money laundering policies in place as well. When these policies are in place, the broker makes sure that no one uses its platform to launder the money that has been looted from some country. To do that, it has to scrutinize every person who signs up on its platform. This might look like too much investigation at first but you know it is for your safety and security. Think about it. If the broker is not identifying its traders at the time of signing up, someone might just be signing up with your stolen information.
So, when you sign up with IKON Finance, you will have the peace of mind in these areas. You will know that the broker is going to take care of your money and information because it offers full security on its platform for all traders. Through proper regulation, the broker has sent a clear signal that it cares about the interests of its traders no matter which part of the world they belong to.
The Trading Platforms
The trading platform you get from your broker matters a lot in giving you a good or bad trading experience. You are not going to change your broker over and over if you really want to be a successful trader. Changing the brokers over and over will make you inconsistent. It will show that you can’t make up your mind and adjust with any trading conditions available to you. Not to mention, the assets that you can trade with a broker will also change as you change it. It is extremely important to know which trading platform you will be given access to when you sign up with a broker.
Some brokers are happy to offer you just one trading platform. There is nothing wrong with one trading platform because when it comes to CFD trading, you can manage all types of financial instruments and assets in the same place. You can access just about any financial market in the world from the same trading platform. However, there are brokers who want to bring you the best of the trading platforms so you can decide which one is best for you. That’s the same case with IKON Finance. This broker brings you multiple trading platforms to match your trading needs.
The first trading platform that you will get access to with IKON Finance is the IKON Prodigy. This is a complete trading platform with all the functionalities that you look for in the best ones. It has a user friendly interface so you don’t have to go through a long learning curve to use it. Furthermore, it allows you enough customization of the layout to make it yours. It is a fast trading platform and you have to understand the importance of quickness when trading. A slow platform can delay your orders and you will end up with entering trades that you don’t want to. You might see a different price on the screen but enter with a different price because the price you are seeing is delayed.
When trading, you have to get help from the trading signals, indicators and charting tools. You will get access to ample charting and analytical tools when you are on the IKON Prodigy trading platform. These tools are there to help you enter successful trades as much as possible. It is not just the CFDs, but you can trade many other financial assets from this trading platform. It does not matter which currency pair you are investing your money in, you will be able to see the profits you will make on your trades on your choice of the base currency. There are many other helpful features on the platform once you are on it.
The other trading platform that you can use with IKON Finance is the MT4 trading platform. This has been the best trading platform that the online brokers and traders have seen in the past many years. Many trading platforms have come after it. In fact, a version of this software has also come out but none has matched the functionality, ease of use, and features of the MetaTrader 4 platform. Not only do you have a variety of pairs of currencies available for trading, but you can also trade them in many different ways. The charting tools can also be customized the way you want.
MetaTrader 4 remains the favorite trading platform for traders and brokers alike because of how easy it is to use. For any broker, offering MetaTrader 4 as a trading platform to its traders is a moment to boast. The broker knows it is offering the best trading platform to its traders.
Last but not least, you have the mobile trading platforms. When it comes to mobile trading platforms, you will be surprised to know that the broker has gone the extra mile to offer you both the trading platforms on mobile. It is not that you are going to use just one platform on your mobile devices. Even when you are trading on your mobile devices, the broker has given you the option to choose from MetaTrader 4 or IKON Prodigy. You don’t even have to worry about the features of the platform because you are going to get everything on the mobile application that you get with the desktop version of the trading platform.
If you want the advanced charts and charting tools on your mobile device, you will get them. You can trade dozens of different assets on your mobile trading platform. The best thing is that the broker has paid attention to your security here as well. When you download the platform on your device and use it, all of the information you enter in the platform is encrypted. In fact, the security you get with the IKON trading platform is even higher than what you get with MetaTrader 4. If you are considering going mobile with trading, it is highly recommended that you pick the IKON Prodigy trading platform because it offers many benefits over the mobile version of MT4.
You don’t have to pay for either of the applications. However, if you want to get access to the latest market news so you can stay on top of the market trends, you are better off with IKON Prodigy. There is no news alert available for you on the MT4 trading platform. Even when it comes to security, you only have 128 bit encryption available with the MT4 trading platform. On the other hand, you have even the 256 bit encryption option available with IKON Prodigy platform. Risk management features are great on both the trading platforms. So, if you want to close your open positions partially, you can do that on both these platforms.
In the end, you should not have any compatibility issues once you are with IKON Finance. Both these platforms have been designed to work on all the major mobile operating systems. Whether you love to use iPhones or the Android phones, you will not face any compatibility issues because these platforms are available for both these operating systems.
The best trading platform feature from the broker is of auto trading. Automatic trading is usually available on the desktop version of the trading platform. With automatic trading, you can set certain filters for the market conditions. When those conditions are met, your trading platform takes the decision on your behalf and the trade is executed. Using this feature, you can make money even when you are not on the platform. Whether you go with the IKON Prodigy or the MetaTrader 4 trading platform, you will get the automatic trading feature with both.
Financial Assets and Markets
You will not be disappointed even when it comes to the asset index from this broker. There is nothing to miss when you are trading with IKON Finance. All the currency pairs that you can think of are available on its platform. In fact, when you sign up with other brokers, you will notice that they give you access to the major currency pairs only. That’s because they are at risk when they give you access to the volatile currency pairs. When you join the trading platform from IKON Finance, you can trade the major currency pairs and even the rarest currency pairs that you have seen on the forex.
These currency pairs are also known as cross currency pairs. They are a cross between the major currencies of the world and the rare ones. For this particular reason, these pairs can be extremely volatile. When you invest your money in these currency pairs, you have to be careful with your trading decisions. Any wrong decision can end you up with huge losses. At the same time, if your trade is successful, you can make a lot of money through huge profits. Financial experts believe that you can achieve your financial goals unless you are willing to take big risks. So, it is okay to take a big risk on the volatile currency pairs at times.
In addition to the cross currency pairs, you have access to the emerging markets as well. These are the currency pairs that are emerging on the foreign exchange as the strong currency pairs. It is a great move from the broker that is has put these currency pairs in the emerging market section. This way, you know which currency pairs are emerging as successful currency pairs. Investing in these currency pairs is safer than investing your money in something you don’t have any idea about. At least you know in the case of these currency pairs that they are an emerging market and the probability of profiting from them is high.
You also have access to precious metal trading when you sign up with IKON Finance. The precious metals that you can trade with this broker are silver and gold. It is important to notice here that you are able to trade the precious metals against certain currencies. There is no guesswork involved because there are only a limited number of currencies that you can use to trade silver and gold. The most common currency that you can use to trade the precious metals with IKON Finance is the USD. The other currency that you can use to buy gold is Turkish Lira.
Opening a Demo Account
It is a pity that some of the biggest online brokers do not give you the chance to try their trading platforms and trading conditions before you put your money on the line. So, once you have made up your mind that you want to start trading, you have to pick one of the many accounts available. Again, this is a point where things can get very confusing for you. Sometimes, you have up to five or six choices from which you have to pick the trading account with the broker. The problem with this approach is that you can’t make any choice unless you know at least one.
How can you decide which account you are going to pick if you don’t even know what the trading platform looks like? IKON Finance has solved this problem with a simple feature of letting you use the demo account. When you open a demo account, it is just like a paid account but you don’t have to pay anything to open it. In fact, you don’t even have to provide your banking or credit card details when opening this account. When you sign up for a demo account, you get dummy credits in your account and you can use it to trade. You can invest this money in any currency pair or precious metal you want.
These are dummy credits and they will not affect your real money in any way even if you already have some funds in your account. The demo account is there to teach you how the trading will take place when you use one of the trading platforms from IKON Finance. Keep in mind that you have multiple choices of trading platforms with this broker. Which platform you want to pick for your trading is best decided when you have used both and can compare their pros and cons. The best thing is that IKON Finance is not limiting you with your trades when you open the demo account.
Whether you want to trade the currency pairs or do CFD trading, you have both the options available to you with the demo account. Once you have used the demo account for enough days, you can then move on to opening a real account and put your real money on the line. By that time, you will at least have the confidence of using the trading platform. With other brokers, they often require you to put in a lot of information in the online form before you can open the demo account. This can be frustrating because you only want to check things with a free account.
When you sign up with the demo account from IKON Finance, you will be happy to know that you can sign up within seconds. All you have to do is to provide your phone number, name and email address and you are good to go with a demo account.
When you want to contact the company, you can fill out the online contact us form and send the inquiry to the company. If you are not comfortable filling out your information in the contact us form, you can also use the email address on the website. However, when you need instant help from the company, the email does not really cut it. When you need help on an urgent basis, you can’t wait for a reply to your email in 24 hours. At that time, you want to contact the company on its phone number. You will be glad to know that you have a phone number available that you can call when you need urgent help from this broker. There is complete physical address of the company given on the website so you know you are signing up with a legit entity.
Summarizing the Best of IKON Finance
So, what are the best features that you will enjoy when you sign up with IKON Finance? First, you will get access to two different trading platforms i.e. IKON Prodigy and MetaTrader 4. Secondly, you will be trading in the best financial markets through CFDs. You can trade the major currency pairs if you want to play safe or take bigger risks with rarer currency pairs. You have cross currency pairs as well as emerging markets available here. You can also trade silver and gold against the USD. Last but not least, you are signing up with a broker with proper regulation from a well-known regulating authority i.e. Financial Conduct Authority.
There is nothing wrong in expecting the best from your broker when you sign up as a new trader. You don’t want to be distracted with things like huge leverages and small margins when you are new in the trading world. As a new trader, you might not know the risks associated with huge leverages offered by the brokers. When you look at IKON Finance you instantly notice that this broker focus on the things that are most important for traders. Regulation, anti-money laundering policies, multiple trading platforms, etc. are the things that matter to the traders and that’s where the focus of IKON Finance is.