Ikko Trader Review: Okboptions.com Crude Forex Scam
Ikko Trader (Okboptions.com) is a scam that has been in the industry for a while. IkkoTrader is a scam platform that has managed to fool investors for a while. The platform has over seven years without being flagged by regulatory bodies. And now, the financial watchdog CNMV has finally reported the scam. They are a bunch of online scam artists. Read this genuine and honest IKKO TRADER Review for more.
About Ikko Trader
The platform claims to be another white label of SpotOption and claim to offer efficient tools for binary trading. According to their about is page, they claim to be one of the pioneers of the Binary trading industry. They claim Ikko Trader is a one of a kind platform offering user-friendly interface. Some of their selling features include double up and roll over, not forgetting one touch open. Does this make it a reliable and trusted binary options signal provider? Read on to find out more regarding this shoddy platform.
When it comes to binary trading, it is best you have an accurate and reputable binary options signal provider. With a reliable binary options signal provider, traders are guaranteed of a safe trading experience. Ikko Trader is far from being reliable and is certainly not reputable. The fact still remain this is another online scam lead by anonymous brokers. Information regarding the actual owners is missing, and this is a strong reason to doubt them. They have different locations which don’t actually exist. And this is why they have been flagged as a scam.
Assets of Ikko Trader
They claim Ikko Trader is home to over 60 assets to which traders can carry out binary options trading. The platform claims to have over 20 stocks from leading international companies. They claim to have the hottest stocks from Apple, Coca-Cola, Google, and Microsoft. The platform also claims to house over 13 currency pairs which include all major currencies. Four commodities have been included on their list such as Oil, Petroleum, Platinum, and Silver. A list of indices listed includes Dow Jones, FTSE 100, NASDAQ, and S&P 500.
Banking Services
The platform claims to accept all major currencies via Ikko Trader Visa. Other payment options listed include Maestro and MasterCard. They claim to store your credit card information on their servers which is a lie. The platform was flagged down by regulatory bodies due to selling of personal information. Ikko Trader has been selling credit card details to third parties. Members have been finding their bank accounts swept clean by unknown persons. And the scam has been traced to this binary options platform.
Domain Details
We did a domain registry check with whois.net to find out the creation date of their website. According to whois.net, okboptions.com was created on 3rd June 2013. And this is proof the platform has been in existence for quite some time. The reason is binary options has been in the market for longer compared to other assets such as Crypto. Most countries banned the use of binary options trading and thus, ikko trader has been swept aside. And this is why they recently indulged in Crypto trading which is not working well for them. They have been flagged down for using draconian rules when trading digital currencies.
License and Registration of Ikko Trader
And this is where the platform loses all its credibility since it has been operating without a valid license. Ikko Trader is not LICENSED OR REGULATED to offer any binary or Forex related services. And this is why most regulatory bodies have flagged it down. The financial watchdog CONSOB has issued a warning regarding this platform. Another European watchdog CNMV also issued a warning recently. And the number is likely to rise after other European regulators indicated a ban was on its way.
The reason for the platform to lose all credibility is failure to apply for a license. Other regulatory bodies claim traders reached out to them due to withdrawal complications. IkkoTrader is another online scam which has been failing to follow proper set rules. What is interesting is that the platform has been operational since 2013. They would have applied for a license and offered valid trading services. Without a trading license, it makes members risk their funds as deposits are not insured.
Limitations of Ikko Trader
Bonus
Ikko Trader is offering what they term as the best bonus during weekends. When investors deposit during the weekend, they get loads of bonuses. In other words, the broker will match your deposit. These bonuses end up being a pain in the neck for all traders. When withdrawing funds, the broker will demand you pay the deposit back. An investor who deposits $5,000 will have to deposit another $5,000 to withdraw funds. And this is a classic pyramid scheme move instigated by these scam artists.
Contact and Support
According to their support page, they offer 24/7 support, and this is a clear lie. Without live chat support, there is no way 24/7 support is available. The platform has posted an email address and phone number as means of communication. Email communication is not effective as response might take long. The phone number listed is ever busy as it is a virtual phone number. These scam artists will block certain calls from specific regions for fear of being tracked. Scam artists never give out their contact details for obvious reasons.
Demo Account
Another issue we found with this platform is the demo account. A demo account is supposed to give users an indication of what the platform is about. Their demo account lacks any advanced tools and does not have Crypto and Forex assets. Ikko Trader is trading with other assets and failure to have important assets is throwing off investors. Their demo account is also slow when executing trades. And this is an indication their platform is lacking serious software putting investors at a vulnerable situation.
Deposit and withdrawal
When it comes to depositing funds, Ikkotrader is well-covered. The depository channels listed include CashU, Delta, Giro Pay, MasterCard, Web Money, Visa, and others. With a number of various depository channels, it makes their web even bigger. Traders from all over the world can easily deposit funds with them. The biggest challenge facing members of IKKOTRADER is withdrawal. None of the members who signed up over a year ago has ever been able to withdraw funds.
Trading Platform
We did reach out to one of the victims who sent a screenshot. The platform is using a web based trading platform which has some serious issues. Custom made platforms fail to pass tests which enable traders to safely trade on them. An excellent example is failure to have DDoS and SSL encryption software. It makes the platform unstable and the trade execution speed is slow at best. And this is why we have to flag down this platform.
Security of funds with Ikko Trader
When it comes to security of funds, scam artists will use every trick in the book to convince investors. IkkoTrader is no different as they have used a Comodo logo to try and fool investors. A closer look suggests the website does not even have basic security protection. Segregation of accounts is another problem meaning they are pooling funds under a single statement. These are some of the reasons why regulators banned the use of the platform. Members are far from being secure while using a soft target for hackers.
Scam or legit Ikko Trader
With a ban on its way, Ikko Trader is a scam which must be shunned. Stay away by ensuring you mark all their promotional emails as spam. Warn your family and friends from joining any of their affiliate programs.
Final thought
We have to add this platform to our blacklist to ensure our readers know the dangers involved. Stay safe at all times by using approved and transparent brokers with a proven track record.
Wishing all traders a lucrative and safe trading experience.
