Reported as a scam / unregulated
Why IkasFX is on the register
IkasFX claims to be operated by Ikas Forex Ltd, a company registered in Dominica, regulated by the Financial Service Unit (FSU) of Dominica. However, upon investigation, IkasFX is not directly licensed or supervised by the FSU. Instead, it asserts that it falls under indirect oversight through a third party, Financial Master Management Ltd, which is described as an Authorised Forex and PSP License Issuer approved by the FSU. This arrangement is highly unusual and lacks transparency. Notably, we were unable to find any reference to Ikas Forex Ltd on the official website or records of Financial Master Management Ltd. Moreover, the FSU itself is an offshore regulator with limited enforcement power and international recognition. Therefore, we consider IkasFX as a potential scam broker.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.