IKON Finance
sogotrade
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Overview
IKON Finance was founded in 2011 and is headquartered in London, while sogotrade was established in 2016 and is based in USA. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. IKON Finance serves 10,000+ clients worldwide; sogotrade has 1,000,000+. The minimum deposit is $200 at IKON Finance and $250 at sogotrade.
| Feature | IKON Finance | sogotrade |
|---|---|---|
| Min. Deposit | $200 | $250 |
| Regulation | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F307 |
| Founded | 2011 | 2016 |
| Country | London | USA |
| Clients | 10,000+ | 1,000,000+ |
Fees
Fees are a critical factor when choosing between IKON Finance and sogotrade, directly affecting your bottom line as a trader. IKON Finance has a lower barrier to entry with a minimum deposit of $200 (vs $250 at sogotrade). sogotrade charges withdrawal fees while IKON Finance does not, giving IKON Finance an edge for frequent withdrawers. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Overall, IKON Finance scores higher on fees in our assessment.
| Feature | IKON Finance | sogotrade |
|---|---|---|
| Min. Deposit | $200 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
IKON Finance offers MT4, MT5, cTrader, while sogotrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. The two brokers are closely matched on platform offering.
| Feature | IKON Finance | sogotrade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, ZuluTrade, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how IKON Finance and sogotrade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. IKON Finance scores higher overall in education and research.
| Feature | IKON Finance | sogotrade |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. IKON Finance accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while sogotrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). sogotrade uniquely supports PayPal and Skrill and Neteller among the two brokers. sogotrade scores higher on deposit and withdrawal flexibility.
| Feature | IKON Finance | sogotrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both IKON Finance and sogotrade offer live chat support. Both provide phone support. Email support is available at both brokers. IKON Finance supports 2 languages and sogotrade supports 8, giving sogotrade broader global reach. Both brokers are comparable on support quality.
| Feature | IKON Finance | sogotrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |