ICE FX

General Information

Launched in 2015, Operating from Malaysia, ICE FX is an online trading broker that offers over 63 trading instruments across 5 different asset classes for online trading via the MT4 trading platform. ICE FX is registered with the Labuan Financial Services Authority with the registration number: LL12180 and License number: MB/15/0007U0064.

The company is regulated by the Labuan Financial Services Authority (FSA) and offers a variety of trading instruments across multiple asset classes through the popular MT4 trading platform. With a maximum leverage of 1:500 and a minimum deposit requirement of $50, ICE FX provides accessible trading opportunities for both beginners and experienced traders.

Markets Instruments

ICE FX offers a variety of trading instruments across different markets, providing traders with diverse options to suit their preferences and trading strategies. The market instruments available for trading with ICE FX include:

1. Forex: ICE FX allows trading in the forex market, which involves the exchange of currencies at floating rates. Traders can participate in currency pairs and take advantage of fluctuations in exchange rates.

1. Commodities: ICE FX provides trading opportunities in commodity markets, where tradable goods are exchanged through contracts. This includes commodities such as gold, silver, and other precious metals, allowing traders to speculate on their price movements.

1. Indices: Traders can access equity or stock indices through ICE FX, representing a specific set of the largest companies or a particular stock market. Stock market indexes measure the value of specific sections of the stock market, offering opportunities for traders to speculate on the performance of these indices.

2. Precious Metals: ICE FX facilitates trading in precious metals like gold and silver. These hard commodities are contract-based tradable assets, allowing traders to take positions based on their price movements.

1. Energy: ICE FX enables trading in energy markets, where volatility is influenced by political, environmental, and other factors. Traders can speculate on the price movements of energy commodities such as oil and natural gas.

2. Cryptocurrencies: ICE FX offers trading in popular cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Ripple (RPL), and Bitcoin Cash (BCH). These digital currencies provide opportunities for traders to benefit from their market volatility and price fluctuations.

Account Types:

ICE FX offers three types of trading accounts, including the STP-Demo account, the STP account, and the STP-MA account.

1. STP-Demo Account: The STP-Demo account is a simulated version of the STP account and does not require a real money deposit. It is intended for practice and testing purposes. The STP-Demo account operates with USD as the account currency and provides access to 36 currency pairs, 2 spot metals, 2 CFD commodities, and 35 cryptocurrencies. It offers leverage of 1:100 (fixed) and uses instant execution for market and limit orders. This account type includes risk management features and demonstrates position hedging. However, it is important to note that the trading results obtained on an STP-Demo account should not be considered real or applied retrospectively on an STP account.

2. STP Account: The STP account is a live trading account that requires a minimum deposit. It offers a broader range of trading conditions compared to the STP-Demo account. The STP account operates with USD as the account currency and provides access to the same range of instruments as the STP-Demo account, including 36 currency pairs, 2 spot metals, 2 CFD commodities, and 35 cryptocurrencies. It offers leverage ranging from 1:1 to 1:300 (floating) and uses market execution for market orders and partial execution for limit orders. The STP account includes risk management features and demonstrates position hedging.

3. STP-MA Account: The STP-MA account is a modified version of the STP account designed for managing investors' funds. It combines features of PAMM, LAMM, and MAM technologies to meet specific requirements. The STP-MA account requires a higher minimum deposit compared to the STP account. It operates with USD as the account currency and offers the same range of instruments as the STP and STP-Demo accounts. Leverage ranges from 1:1 to 1:100 (floating), and it uses market execution for market orders and partial execution for limit orders. The STP-MA account includes risk management features and demonstrates position hedging.

Leverage:

The maximum leverage offered by ICE FX depends on the account type:

1. STP-Demo Account: The STP-Demo account provides a maximum fixed leverage of 1:100. This means that traders can control positions up to 100 times the amount of their invested capital. For example, with $1,000 in the account, traders can potentially open positions worth up to $100,000.

2. STP Account: The STP account offers a maximum leverage of up to 1:300 (floating). This means that traders can control positions up to 300 times the amount of their invested capital. The actual leverage available may vary depending on the trader's chosen leverage level within this range.

3. STP-MA Account: The STP-MA account provides a maximum leverage of up to 1:100 (floating). This means that traders can control positions up to 100 times the amount of their invested capital. Similar to the STP account, the actual leverage available may vary depending on the chosen leverage level within this range.

Spreads and Commisions:

ICE FX offers different spreads and commissions based on the trading accounts:

1. STP-Demo Account: The STP-Demo account, which simulates an STP account, does not require real money deposits. Therefore, it does not involve spreads or commissions. Traders using the STP-Demo account can focus on practicing and testing their trading strategies without incurring any trading costs.

2. STP Account: The STP account involves spreads and commissions. The spreads refer to the difference between the bid and ask prices of a financial instrument. While the specific spreads may vary based on market conditions, ICE FX provides competitive spreads for the STP account across the available instruments, including 36 currency pairs, 2 spot metals, 2 CFD commodities, and 35 cryptocurrencies.

Additionally, the STP account incurs commissions, which are fees charged on each trade executed. The commission rates for the STP account range from 0.0025% to 0.25%, and the actual commission rate applied depends on the specific trading instrument and market conditions.

3. STP-MA Account: The STP-MA account, designed for managing investors' funds, also involves spreads and commissions. The spreads and commission rates for the STP-MA account are similar to those of the STP account. Traders using the STP-MA account can expect competitive spreads across the available instruments, as well as commission rates ranging from 0.004% to 0.006%.

It is important to note that spreads and commissions are subject to market fluctuations and can vary depending on the specific trading instrument, liquidity, and volatility. Traders should refer to the broker's official website or contact customer support for the most up-to-date information regarding spreads and commissions applicable to each account type.

Trading Platforms

ICE FX offers investors MT4, as well as MT4 PC, and MT4 Mobile (Android & iOS). MT4, with its wide range of features and trading opportunities and intuitive interface, is considered the trading platform and gold standard in the Forex market trading industry, with not only a wide range of tools and opportunities but also features for analyzing the market and supporting trading robots (advisors) with a wide range of features and tools.

Trading Tools

Traders are provided with a range of useful trading tools in addition to those built into the MetaTrader 4 trading platform. These trading tools include some risk management tools, VPS, Tradebox, and more.

Deposit and Withdrawal

ICE FX supports traders to deposit and withdraw funds to their investment accounts via credit/debit cards (Visa, MasterCard), wire transfer, Skrill, Neteller, WebMoney, ePayments, and cryptocurrency Bitcoin and LiteCoin payments.

ICE FX provides several deposit and withdrawal methods for their clients, with different minimum deposit amounts and charges. The minimum deposit amount across all available deposit methods is $50, allowing clients to open an STP account.

When it comes to deposit and withdrawal fees, ICE FX charges fees for these transactions. Clients using Bank Wire Transfer should also check with their own bank for any additional fees that may be applied. The specific fees associated with each deposit method can vary.

The deposit and withdrawal methods available at ICE FX include VISA/MasterCard, ePayments, SKRILL, bank transfers to the company's account, WebMoney (via ePayments), and SWIFT (via ePayments or SKRILL). The processing time for withdrawals can range from 1 to 5 business days, depending on the chosen method.

Notably, ICE Markets offers a promotion where they fully refund deposit commission fees to all clients. This promotion has no minimum deposit amount requirements, no restrictions on deposit methods, no time limits, and no limits on the number of deposits.

The refund of the payment system's commission fees is provided to clients as a bonus. For example, if a client makes a deposit of $1,000 with a payment system commission fee of $50, they will receive two payments to their account: $950 (personal funds) and $50 (bonus funds). The bonus funds can be used for trading or investment purposes and can be withdrawn once they are converted into real personal funds.

It's important to note that there are certain rules regarding the method used for depositing and withdrawing funds. In general, the method used for depositing should be the same method used for withdrawal. However, privileged categories of clients may have additional opportunities and exceptions in this regard.

Clients with premium statuses such as Premium, VIP, Elite, Loyal Junoir, Loyal, and Loyal+ have no restrictions on the withdrawal methods regardless of the deposit method used.

Please note that the exact commission amounts and their compensation will be displayed in the client's Personal Area during the deposit and withdrawal processes. Additionally, deposit and withdrawal via Skrill and Neteller are not available to customers from countries in the European Economic Area.

Customer Support:

ICE FX offers customer support via online chat, Skype, email, and phone. The support department operates 24/5, from Monday to Friday, providing assistance to traders on various matters. While the contact page may require some navigation, the customer support team is dedicated to addressing inquiries and providing timely help for traders' account-related queries, technical issues, and general assistance.

Educational Resources:

ICE FX provides educational resources to support traders in gaining the necessary knowledge and skills for successful forex and commodity trading. While the availability of educational content is present on the website, it is worth noting that these resources may be scattered throughout the site, making them slightly challenging to locate and utilize.

One of the educational features offered by ICE FX is the Trading condition page, which provides live information such as quotes, spreads, and swaps. This feature allows traders to stay updated on the current market conditions, enabling them to make informed trading decisions based on real-time data.

For traders seeking to enhance their trading experience, ICE FX offers a Virtual Private Server (VPS) service. VIP clients or those with a high enough account balance can access this service for free. A VPS can provide traders with stable and uninterrupted connectivity to the trading platform, ensuring efficient trade execution and minimizing technical disruptions.

Furthermore, ICE FX offers demo accounts, including the STP-Demo account. The STP-Demo account simulates an STP account, allowing traders to practice and familiarize themselves with the trading platform and strategies without the need to deposit real money. Demo accounts are valuable for traders to gain hands-on experience, test their trading approaches, and build confidence before engaging in live trading.

While the educational resources provided by ICE FX may require some effort to locate and navigate, they offer valuable tools and features to support traders in their learning journey. Traders can utilize the Tradebox, economic calendar, VPS service, and demo accounts to enhance their understanding of the markets and refine their trading skills.

Summary:

ICE FX is an online trading broker headquartered in Malaysia. Established in 2015, it offers a range of trading instruments across multiple asset classes through the popular MetaTrader 4 (MT4) platform. The broker is regulated by the Labuan Financial Services Authority and provides services to traders worldwide, excluding Malaysia and the United States.

Pros:

1. Wide Range of Tradable Assets: ICE FX offers a diverse selection of trading instruments, including currencies, cryptocurrencies, CFDs on precious metals, stock indexes, oil, and other commodities. This allows traders to access various markets and diversify their portfolios.

2. MT4 Trading Platform: The broker utilizes the widely recognized and user-friendly MetaTrader 4 platform, available for desktop, web, and mobile devices. MT4 provides advanced charting tools, automated trading capabilities, and a range of technical analysis indicators, suitable for traders of all skill levels.

3. Multiple Account Types: ICE FX offers different account types, such as STP, STP-MA, and Cent accounts, catering to the needs of different traders. The availability of demo accounts and the option for Islamic (swap-free) accounts further enhances the trading experience.

4. Maximum Leverage: With a maximum leverage of 1:500, ICE FX allows traders to amplify their trading positions, potentially maximizing profit opportunities.

Cons:

1. Limited Regulatory Coverage: While ICE FX is regulated by the Labuan Financial Services Authority, it is important to note that the broker is not regulated by prominent regulatory bodies such as the Financial Conduct Authority (FCA) or the Securities and Exchange Commission (SEC).

2. Scattered Educational Resources: The educational resources provided by ICE FX are scattered across their website, making them challenging to find and utilize effectively. Traders may need to explore alternative sources for comprehensive educational materials.

3. Limited Customer Support Accessibility: Although ICE FX offers customer support through various channels, the contact page on their website can be difficult to locate. Improved accessibility to customer support information could enhance the overall user experience.

In conclusion, ICE FX is an online broker that provides a diverse range of tradable assets through the popular MT4 platform. While it offers multiple account types and high leverage options, the limited regulatory coverage, scattered educational resources, and accessibility of customer support could be areas for improvement. Traders should carefully consider these factors before choosing ICE FX as their trading partner.

FAQs:

1. What trading instruments are available on ICE FX？

   ICE FX offers a wide range of trading instruments, including currencies, cryptocurrencies (Bitcoin, Litecoin, Ethereum), CFDs on precious metals, stock indexes, oil, and other commodities.

2. What is the minimum deposit requirement for opening an account with ICE FX？

   The minimum deposit requirement for opening an account with ICE FX is $50. This allows traders to access either a Cent account or an STP account.

3. What trading platform does ICE FX provide？

   ICE FX utilizes the MetaTrader 4 (MT4) trading platform. MT4 is a popular and widely recognized platform known for its comprehensive features, user-friendly interface, and compatibility across different devices.

4. Can I access educational resources and demo accounts on ICE FX？

   Yes, ICE FX provides educational resources and demo accounts. While the educational content may be scattered on their website, traders can access demo accounts, including the STP-Demo account, to practice trading without depositing real money.

5. How can I contact the customer support team at ICE FX？

   The customer support team at ICE FX can be reached through online chat, Skype, email, or phone. However, it is important to note that the contact page on their website may require some navigation to locate. The support team is available 24/5, from Monday to Friday, to assist traders with their inquiries and provide necessary guidance.