Ice FX company was registered relatively recently, in 2015, in Malaysia, but this did not stop it from firmly establishing itself in the brokers rating at quite high positions. And don’t be threatened by the fact that Ice FX is an offshore organization. Its work is fairly transparent – the results of verification by world auditors are publicly available.
All client accounts are placed in the longest-standing bank – Standard Bank, this fact is a guarantee that the funds are under reliable protection.
One of the features of this broker is the A-book model working scheme. This means that all client transactions are transferred to the interbank market. The benefits of this model for a trader are stable execution of orders and unhindered funds withdrawal. Also, the broker will not technically be able to worsen the profitability conditions for traders. When working with this model, the broker does not benefit from your loss, and Ice FX executes it completely. Therefore, this broker is worthy of your attention. And another important aspect – Ice FX earns exclusively on fees from trading volumes. The A-book model is shown in the image below:
The company does not stop developing and constantly improves its investment services:
– today, the rate of return on account indexes is from 25 to 50 percent per year; the managerial base is constantly increasing in order to improve these results;
– managed accounts are the own product; several technologies have come together here; the investor is almost free in his actions and uses the settings to the maximum;
– The rating system is a kind of division of managers according to their professional qualities; Thus, it is easier for an investor to choose an account for investing funds;
– according the investor the right to choose – to allocate funds on the account and establish risks and returns of different levels; Now the manager can keep one account, but not several so that the investor reduces the risk of loss;
– investors can limit the loss of investment themselves, using some settings.
Registration and account types
In order to become an ICE FX client, you must pass the standard registration procedure on the website. The minimum amount for a trading account creation is $ 30. Then you need to create a trading account in your personal cabinet and download the MetaTrader4 trading terminal for a PC or mobile device.
You should have no difficulties when choosing the trading account type:
STP-Demo account is designed primarily for beginners and to test the trading algorithms operation in the conditions offered by the broker.
The ICE FX broker provides the opportunity to trade in financial tools such as:
- Currency pairs – 44;
- Spot metals – 3;
- CFDs on stock indexes – 9;
- Raw materials CFDs – 2;
- Cryptocurrency CFDs – 5.
Leverage is floating varies from 1:50 – 1: 300, depending on the financial tool.
As for the spreads, the ICE FX broker is relatively higher than the Australian IC Markets and Tickmill brokers, but in general they are at a level acceptable for automated trading by advisors. We have collected statistics on the changes in the spread on the EUR / USD currency pair for a representative period using our specially developed Spread Detected indicator:
As you can see in the diagrams, changes in the spread over time on the EUR / USD currency pair are often of an impulse nature, usually at the moment of news release and as a result of a lack of liquidity due to the limited liquidity providers number of this broker, thus there is such a gap between the Ask and Bid prices. This suggests that news trading, as well as breakdown systems trading is likely to be ineffective.
Replenishment and withdrawal of funds
The wide variety of available methods of replenishing and withdrawing funds is the broker’s indispensable advantage: bank transfer, plastic cards, cryptocurrencies, WebMoney,
Skrill, NETELLER, Payeer, Perfect money. Some transaction methods work instantly which is very convenient.
Risks control tools
Let us take a closer look at the risk management system. Trading on the market is inextricably bound up with the risk of losing all or part of your investment. ICE FX has developed a system of external control over the trader’s work which is available to any broker’s client. First of all, there is the possibility of setting a number of restrictions and settings, upon reaching which the transaction will be closed or trading will be stopped for a certain period of time. It is also impossible to instantly change the values of these settings, which allows to limit possible losses during emotional and psychological instability periods caused by trading results. The broker’s idea of this money management approach is shown on the image below:
This system can be really useful for beginners, allowing them not to make impulsive and emotional decisions on trading.
To sum up: the pros and cons of the ICE FX broker
ICE FX company is a dynamically developing retail broker that provides its clients with a full range of services for independent trading on the Forex market, both trading on own account and managing the investors’ funds as part of specially developed investment tools in the form of indexes.
First of all, the benefits of working with an ICE FX broker include openness and transparency of trading conditions, which is the prevailing factor of choice in modern world financial realities. Using the A-Book model guarantees that there is no conflict of interest between the client and the broker.
- ICE FX earns exclusively on fee deductions and does not appropriate customer losses.
- ICE FX does not worsen trading conditions for profitable traders.
- ICE FX does not reject profitable trades.
While working with the IC FX broker, no fundamental disadvantages were revealed. We, the DaVinciFX Group team, are the managers a trading account with this broker which is included in the investment index. It is worth noting that, trading is profitable and stable with relatively higher average spreads, thanks to good trading orders execution.