Phoenix Ikki is a knight of Athena and as a result you can probably expect that he’s a whole lot stronger than any mere sorcerer. Rayne is one of the strongest mages in all of Mashle but even he would not be able to stand up to Ikki for very long. The gap in their respective power levels is just much too vast. Ikki can heal from most attacks and his golden armor would just block any attack Rayne throws out at him. Phoenix Ikki wins.
Rayne is one of the strongest magic users in Mashle and he will be able to easily break Ido’s armor. Ido has shown some good speed of his own but he doesn’t have the full launching power that Rayne has. That will prove to be one of the key differences in this fight because you absolutely need power to try and break Rayne’s spells. Otherwise you need the speed to dodge them and even Ido couldn’t do that for long. Rayne Ames wins.