ICE foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.theice.com/index, about the company's legal and temporary regulatory information, the company's address .
ICE Forex Broker
Basic Information
United States
5-10 years Suspicious Regulatory License High potential riskCompany profile
Is ICE safe or scam
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Ice Forex Broker - Complete Information Guide
1. Broker Overview
Ice FX, established in 2015, operates under the name Ice FX Markets Limited. The broker is headquartered in Labuan, Malaysia, and is privately owned. Ice FX primarily serves the retail forex market, catering to a diverse clientele that includes individual traders and institutional investors.
Since its inception, Ice FX has focused on providing competitive trading conditions and a user-friendly trading environment. The company has made significant strides in enhancing its service offerings, which include a variety of trading accounts and access to multiple financial instruments. A notable milestone in its development was the introduction of its proprietary trading platform, which has been well-received by traders.
Ice FX operates as a retail forex broker, offering services that include forex trading, CFDs, and various asset management solutions. The broker aims to create an interactive trading environment that fosters growth and profitability for its clients, making it a notable player in the forex trading space.
2. Regulation and Compliance Information
Ice FX is regulated by the Labuan Financial Services Authority (Labuan FSA), holding the license number MB/15/0007. This license allows the broker to operate within the jurisdiction of Labuan, Malaysia. However, it is important to note that the regulatory environment in Labuan is often perceived as less stringent compared to other major financial jurisdictions.
The broker's license is valid for conducting forex and CFD trading, but it does not provide the same level of investor protection that is typically found with brokers regulated by top-tier authorities such as the FCA or ASIC. As part of its compliance measures, Ice FX implements a Know Your Customer (KYC) policy to verify the identities of its clients and adheres to Anti-Money Laundering (AML) regulations to prevent illicit activities.
Client funds are maintained in segregated accounts, ensuring that they are kept separate from the companys operational funds. This practice is crucial for protecting client investments in case of financial difficulties faced by the broker. However, Ice FX does not participate in any investor compensation schemes.
3. Trading Products and Services
Ice FX offers a diverse range of trading products, primarily focusing on forex and CFDs. The broker provides access to over 62 currency pairs, including major, minor, and exotic pairs. Additionally, clients can trade a variety of CFD products, which encompass indices, commodities, precious metals, and cryptocurrencies.
The broker's product offerings include:
- Forex: Over 62 currency pairs, including EUR/USD, GBP/USD, and USD/JPY.
- CFDs: A range of indices, such as the S&P 500 and FTSE 100, as well as commodities like gold and oil.
- Cryptocurrencies: Trade options include Bitcoin, Ethereum, and Litecoin.
Ice FX regularly updates its product offerings to include new instruments based on market demand. The broker caters to both retail traders and institutional clients, providing tailored services to meet their specific trading needs.
4. Trading Platforms and Technology
Ice FX supports the popular MetaTrader 4 (MT4) trading platform, which is widely recognized for its robust features and user-friendly interface. The platform is available on desktop, web, and mobile devices, allowing traders to access their accounts and execute trades from anywhere.
The trading execution model used by Ice FX is primarily STP (Straight Through Processing), which facilitates direct market access and ensures efficient trade execution without dealer intervention. The broker also offers an API for automated trading, catering to algorithmic traders who prefer to implement their strategies through custom-built solutions.
In addition to MT4, Ice FX provides a web-based trading platform that allows for seamless trading without the need for software installation. The broker's technological infrastructure is designed to provide reliable connectivity and fast execution speeds, enhancing the overall trading experience for its clients.
5. Account Types and Trading Conditions
Ice FX offers several account types to accommodate the varying needs of its clients:
- Standard Account: Requires a minimum deposit of $30, with competitive spreads and a commission structure ranging from 0.0025% to 0.25%.
- VIP Account: Tailored for high-volume traders, offering lower spreads and enhanced trading conditions.
- Cent Account: Designed for beginners, allowing them to trade with smaller amounts and gain experience without significant financial risk.
The maximum leverage available on Ice FX is up to 1:500, depending on the account type and asset being traded. The minimum trade size is 0.01 lots, providing flexibility for traders with different capital levels. Ice FX also applies overnight fees for positions held beyond the trading day, which varies based on the instruments traded.
6. Fund Management
Ice FX supports various deposit methods, including bank transfers, credit/debit cards, and e-wallets like Skrill and Neteller. The minimum deposit requirement for most accounts is $30, making it accessible for new traders.
Deposits are processed quickly, with most methods offering instant transactions. However, bank transfers may take 2-5 business days to complete. Ice FX does not charge deposit fees, but clients should check with their payment service providers for any applicable charges.
Withdrawal options mirror the deposit methods, with processing times typically ranging from 24 hours to 5 business days, depending on the chosen method. Ice FX does not impose withdrawal fees, but clients should be aware of potential fees from third-party payment processors.
7. Customer Support and Educational Resources
Ice FX provides customer support through multiple channels, including phone, email, and live chat. The support team is available 24/5, ensuring that clients can receive assistance during trading hours. The broker offers support in several languages, including English and Russian, catering to a diverse clientele.
In terms of educational resources, Ice FX provides a variety of materials to help traders enhance their skills. This includes:
- Webinars: Regular online seminars covering various trading topics.
- Video Tutorials: Comprehensive guides on using the trading platform and understanding market dynamics.
- Market Analysis: Daily updates and insights into market trends and trading opportunities.
Ice FX also offers trading tools such as calculators and economic calendars to assist clients in making informed trading decisions.
8. Regional Coverage and Restrictions
Ice FX operates globally, serving clients from various regions. However, the broker does not accept customers from countries such as the United States, Canada, China, India, Japan, Sudan, Syria, and North Korea. This is due to regulatory restrictions and compliance requirements.
The broker has a regional office in Malaysia, but its services are primarily offered online, allowing traders from different parts of the world to access its offerings. Ice FX aims to expand its reach while adhering to the legal frameworks of the jurisdictions in which it operates.
In summary, Ice FX presents itself as a competitive player in the forex and CFD market, offering a range of products and services tailored to meet the needs of its diverse clientele. However, potential clients should carefully consider the regulatory environment and associated risks before engaging with the broker.
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Latest Reviews
Big fish
South Africa
This company says that they are professional in customizing some risk management solutions for me. During the short conversation, I found they are professional and sincerely. But I still need more time to consider the whole thing.
37130
2023-03-06
FX3776182215
Japan
When I try to withdraw funds from my account, they request that I can withdraw if I pay the tax first.
Exposure
2022-05-08
Michael A
United States
It is a scam. A supposed friend invited me to invest on this page. The truth is, I didn't know about it. The minimum investment was $1,000. We had been operating for almost two months by the time I wanted to withdraw. The platform tells me that I must send 3% of my capital to to be able to withdraw it And it is very absurd that I have to send more money for them to give me my money. I already had $29,000, or 3%, if I'm not wrong, it's almost 3,000 dollars. They were crazy. I had to confirm that it was a total scam. I hope you can help me 😢 😞
Exposure
2024-04-16