Modern Orthodoxy forbids wearing a cross and an icon at the same time. The cross is a distinctive sign of a believer, one of the main symbols of the Orthodox Church, therefore it must be worn constantly and it is not recommended to take it off. Icons in the Orthodox tradition act as a secondary amulet for a person. The icon is needed, first of all, so that at the right moments a person can turn to the holy image and ask him for goodness and forgiveness.
Pectoral cross
It is recommended to wear a pectoral cross for every baptized person. The cross is a way of fighting evil, as well as a protection-amulet, which has the ability to heal, however, such an interpretation of the symbol is conditional, because the role of the amulet is not considered paramount (which, by the way, is not characteristic of Orthodoxy). A cross for a Christian is a memory of the Savior and his torments. The idea of amulets is a remnant of paganism, which is akin to idolatry.
By the way, it is rare to see Old Believers with pectoral crosses, and even more so not to meet an Old Believer with an icon on his neck, but the fact is that, according to the canons of the old worldview, they believe that such signs are nothing more than a violation of what has been said: “Don't make images … do not worship or serve them. " The Church still has an ambiguous attitude to icons, supporters of "pure religion", including Catholics, quite logically assert that any kind of icons, images, even relics that become objects of worship, all this is not to please the word of God. However, there is also an understanding of religion as a mass phenomenon, where deviations are possible, some concessions to traditions (for example, the Church recognizes the celebration of a purely pagan Maslenitsa), etc.
Based on the "mass" religion, the cross is intended to be worn constantly, while the icon can and should be removed in order to address the Holy One, to pray to the holy image depicted on it.
Icons
By the way, wearing icons underneath, according to Orthodox canons, is not encouraged at all. The icons are intended for heartfelt conversations with God and the Saints, it is appropriate to have them with you, and therefore placing them on a chain is a kind of indulgence, because the small icon flutters in your pocket, it may even get lost.
Also, one of the reasons for the prohibition of the simultaneous wearing of a cross and an icon is the fact that the icon can cover a pectoral cross, and this is categorically unacceptable in the Orthodox tradition. You can often hear statements that the Church believes that the simultaneous wearing of these symbols is viewed as disrespect for the Christian faith.
In addition, the Orthodox tradition professes the principle of moderation. Based on this, a true believer should know the measure in everything, including the rules for wearing the holy signs of faith. The Orthodox Church does not welcome those believers who are hung with many sacred symbols. Such a manner will demonstrate only the desire for all sorts of excesses and an ostentatious lifestyle, and not true faith and admiration for God. One pectoral cross will look much nicer and more modest than a string of other symbols of faith.