Ikon FX, Ikon/capital markets
I started trading with Ikon whilst “spike” trading, after a “tip off” from a friend… for the first few months everything was great…. i was getting filled at my 0.5 lots without ANY slippage… Happy Days!!!! This continued so i opened another account…. and another account… and another account in my friends name…. then another acccount in my Mums name…….. I carried on making good money. The spreads were stable…and didn’t widen too much so i was very happy.
Then I hit a big one…. took 50 pips at a larger lot size and banked $2500 in 8 seconds!! “Wooohooo” ……..I thought!
Within 24 hours i got an email saying that some of my trades had been filled “Off Market” and Ikon cancelled the trade. See email below….
…………………………
I got straight onto live chat and argued until I was blue in the face….. but they wouldnt reinstate the trade. Anyone who has tried to get any logical sense out of Ikon on live chat will know just how hard it is to get them to do anything.
I then emailed the FSA in the UK…. who sent me back an email that was 15 pages long… that basically said … “we aren’t interested in you… you’re small fry” … To this day I didn’t get the trade reinstated… To be honest… my attention drifted to my next broker who was giving me “zero” slippage. I didnt pursue it enough… but may come back to it in the future.
Ikon no longer fill without terrible slippage. I have also noticed massive “Fake Spikes”, and huge “Spread widening”. I consider Ikon to be highly dangerous to trade with under ANY circumstances…. if your doing any kind of trade…and the spread on the GBPUSD hits 30 pips … your going to be in BIG trouble!