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.