IKON Finance
Westpac
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Overview
IKON Finance was founded in 2011 and is headquartered in London, while Westpac was established in 2008 and is based in Austrailia. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. IKON Finance serves 10,000+ clients worldwide; Westpac has 10,000+. The minimum deposit is $200 at IKON Finance and $50 at Westpac.
| Feature | IKON Finance | Westpac |
|---|---|---|
| Min. Deposit | $200 | $50 |
| Regulation | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) |
| Founded | 2011 | 2008 |
| Country | London | Austrailia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between IKON Finance and Westpac, directly affecting your bottom line as a trader. IKON Finance has a lower barrier to entry with a minimum deposit of $200 (vs $50 at Westpac). Neither broker charges withdrawal fees. IKON Finance applies inactivity fees on dormant accounts; Westpac does not. Westpac charges deposit fees; IKON Finance does not. Overall, Westpac scores higher on fees in our assessment.
| Feature | IKON Finance | Westpac |
|---|---|---|
| Min. Deposit | $200 | $50 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
IKON Finance offers MT4, MT5, cTrader, while Westpac supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Westpac supports social and copy trading features, which IKON Finance does not offer. The two brokers are closely matched on platform offering.
| Feature | IKON Finance | Westpac |
|---|---|---|
| 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 | Desktop,Mac,iPhone,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how IKON Finance and Westpac 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. The two brokers are evenly matched on educational content.
| Feature | IKON Finance | Westpac |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
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 Westpac supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | IKON Finance | Westpac |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
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 Westpac offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | IKON Finance | Westpac |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |