I need to make a logo for a YouTube channel and I want the quality of the logo must be amazing. It should have the elements that could attract my target audience as well as must have the ability to create an identity for my channel. But I want to create a logo online free tool such as (https://designiconic.com/) and don’t want to pay the designers for it. Where can I access any such tools that could help me in this? Well, I need to know what the best logo making tools are online and what features are there in those tools.

Out of interest, why must the tool be online?

nononono!
Creating "amazing" logos is a skill that needs to be done by highly trained graphic designer. Who fathoms your position at the market and where your vision lies. That process of determine your position is very Important. This results in the branding of your undertaking. And the logo is only a small portion of it. There is typography, image language, tone of voice, communication strategy, customer policy to consider. Because as you said it should be appealing to your target customer and serve the ultimate goal: selling your product.

So as a designer I advise you take some money in your hand. Find a designer who writes you a brand concept and deliverables like banners, video templates, a animated logo and so on. So that you can become a successful youtuber who can gather a 6 figure audience. And live off sweet ad money.

@heyheni depends on the phase of the project. In the early phase, anything that doesn't directly contribute is a waste of money, and polished design counts among that.

@Fast-Nop One of the bigest Banks Barclays anlaysed their customers. The conclusion of that study was that every dollar spent on design gets a return of investment by 4.

So I disagree with you. As soon as you hit the market and want to sell something you have to have a brand, design and marketing strategy.

"if you think good design is expensive, look at the cost of bad design"

@heyheni of course design is important, just look at the iconic Coca Cola bottles. My point is, it's not yet worth the money at the start of the project because it's competing with far more important business needs.

In addition to @heyheni comment, if you really want to make a great logo/identity for your channel, please check this site https://99designs.com , start a contest and choose the logo you want! There are a lot of good designers there!

I think is the best option my friend, good luck!