Support

Trading Hours

IKON GM is open 24 hours a day from Sunday 5:00 pm NY time till Friday 5:00 pm NY time, except on scheduled holidays.

Spreads

IKON GM uses state-of-the-art proprietary technology to access many international financial institutions in order to provide clients with the most efficient and accurate pricing available in the market. Accordingly, these efforts are reflected to our clients as compatible streaming quotes and tight spreads *.

Margin

Since the IKON GM IKON Platinum platform is based on leveraged products, each transaction requires a margin deposit, which ensures credit worthiness. Our margin policies are based on the information provided in the account opening documentation and the decisions of the credit committee. Please discuss the nature of leverage and margins with your representative or an IKON GM professional to ensure your complete understanding of the leveraged nature of trading.

Minimum Account

You can start trading with IKON GM right away with a minimum account starting from $1,000.

Quotes

IKON GM uses state of the art proprietary technology to access many international financial institutions in order to provide clients with the most efficient and accurate pricing available in the market. If you’d like learn more on this topic or else, please contact your IKON GM representative. This will help you to ensure that you are fully aware of all aspects of the trading experience prior to trading.

Phone Dealing

If at any time you require the services of the IKON GM dealing room professionals, we are available 24 hours a day for your convenience. Should you wish to engage in phone executions, rather than online trading; or like to submit an order of special specifications, you can do so by voice through calling our dealing desk, working for you around the clock, 24 hours a day.

You can reach IKON GM dealing desk at +1 (212) 482-8270 or +1 (866) 349-8532 (after hours).

Order Types

With the IKON GM IKON Platinum platform, you have the flexibility to enter a wide variety of order types including:

Limit Orders

A limit order is an order to buy or sell a currency pair, which is executed when the price is breached. For example, you place an order to buy 100,000 euro at 1.0950. The platform will automatically fill your order when the offer reaches 1.0950.

Stop Orders

Typically a risk management order used by clients to help manage their market exposure, this type of order can also be used to enter into a new position. The IKON Platinum platform will execute such orders when the bid or offer is breached. For example, if you have an order to sell 100,000 euro at 1.0950, the platform will automatically execute the transaction when the market becomes 1.0950 bid. Similarly, if you have an order to buy 100,000 euro at 1.0950, your order will be automatically executed when the market is 1.0950.

Market Order

IKON GM IKON Platinum platform offers all our clients streaming dealable prices. As such, we offer our clients an easy one-touch application that allows for fast efficient execution. The market order system allows the client to follow the bids and offers on a macro screen that can be executed with a click of the mouse. The most advantageous aspect of the market order system is the ability for the trader to capture better fills. A concept unheard of in the traditional FX markets, IKON Platinum will provide you a better price if the bid or offer improves while you are executing. However, if your price becomes worse, the platform will warn you of the change and confirm your desire to execute your transaction prior to providing a confirmation.

One Cancels the Other (OCO) Order

OCO orders consist of two orders and whichever is completed first automatically cancels the other. Consider that you have placed an OCO order as “Buy 10 December Corn at 1.70 or Buy 10 December Corn at 1.80 stop.” Assume that your original position was a sale of 10,000 bushels of corn 1.75, and you anticipate the price will go down. If you are right, you want to offset your position by buying the corn at 1.70 for a profit of 5 cents a bushel. However, if you are wrong and the price advances to 1.80, you want to cover your position with a loss of no more than 5 cents a bushel. Whichever gets filled first, cancels the other.

If Done Order

IKON Platinum enables you to execute IF Done Order, which can accommodate you more flexible trading strategies. If-done orders are conditional orders. Two orders are given but the second is only executed when the first order is done. Let’s see an example. Consider that USD/JPY is trading at 105.00. You believe that 106.00 is a very strong resistance level, and also believe that if the 106.00 level is tested, there is a good chance USD/JPY will drop at least 50 pips to approximately 105.50. The problem is, you do not know when this movement will happen. If you were able to watch the market 24 hours a day, then you might catch it. However, now, you don't have to watch the screen because you can leave an order to buy yen at 106, and if done then to sell yen at 105.50, specifically in that sequence. This is another feature IKON Platinum brings to you for you to adopt more dynamic trading strategies.

Trailing - Stop Order

The trailing-stop order simply lets you to sell at some fixed percentage below the market price, let’s call this your “stop-loss price.” If the market price goes up, your stop-loss price will follow it up, keeping the same proportion. But if the market price falls, your stop-loss price will not change. Then the market price will catch your stop-loss price on the way down, and you will sell at this stop-sell price. In summary, your loss will be limited by this fixed percentage; however there will be no limit on your possible profit. The best of all is that you don’t have to watch the market 24/7 in order to do this. Let’s see an example: Consider you put 10 pips trailing-stop SELL order for 125K EUR/USD@1.1801. This means that your current sell-loss price 1.1791. Suppose the market price went up to 1.1810, then your sell-loss price will automatically go up to 1.1800. Suppose it went further up to 1.1822 (your sell-loss price is now 1.1812), then it fell to 1.795. This means that your sell order is executed at 1.1812 even though the market bid price hit low to 1.795. IKON Platinum enables you to set trailing-stop orders for better trading strategies.

Rollover Transactions

Each spot foreign exchange transaction, executed and cleared by IKON GM, is based on the standard two day value date confirmation; hence, they have to be closed and re-opened at the end of the day, everyday except the trading day. This is done automatically by our BackOffice in a regular, daily manner. Before reaching the value date, each transaction is rolled over to the next value date, unless the client wishes to take delivery of the actual currency. When a currency pair is rolled over to the next value date, there is either a cost or a credit to such a transaction (Rollover P/L). As a primary market maker in the foreign exchange market, IKON GM is able to provide its clients with the most advantageous rates. If you require an in-depth explanation of the rollover process, please contact your IKON GM representative.

Risk Disclosure

Please read the following notice carefully. By accessing this website you acknowledge and agree to the following:

All information provided on these pages is for informational purposes only. Nothing presented on this site shall be construed as investment advice or recommendations, or a solicitation by IKON GM to buy or sell any futures, options on futures or foreign exchange products. Products and services described may not be available in all jurisdictions. Trading futures, options or foreign currencies involves the risk of loss. You may lose more than the amount originally invested and, in respect of these products traded on margin, you may have to pay additional funds later. You should not invest in such products unless satisfied that they are suitable for you.

Certain data and/or information presented in or through this site have been provided by sources believed to be reliable. However, IKON GM has had no role in the production or review of such information and makes no warranty, either expressed or implied as to its contents, accuracy or performance. Past performance will not necessarily be repeated in the future. You agree to hold IKON GM harmless against any claims for damages arising from your use of the website or any decisions you make based on information found herein, and for any error or omission. By accessing this information, you are acknowledging your understanding and agreement with this.

Did You Know?

"That Ikon GM offers ECN solutions on all its FX platforms."