Hello, dear readers!
This article continues my series of reviews about those brokerage companies that provide their clients with good investment opportunities. Today's article is a review and review of the Ice FX broker.
The company has been operating for several years and has already conquered a significant market share thanks to its high level of transparency. By the time this article was published, I myself have been a client of this company for a long time.
The purpose of the independent review is to introduce you to the Ice FX in order to help you make a decision about cooperation (or not cooperation) with him.
ICE FX - reviews
As always, before working with a company, I Google reviews on websites.
Since most of them are fake, I don't read them directly, but see what I can understand by reading between the lines.
The very first site that collects reviews made me understand that black PR was ordered against the company. Why do I think this? Because no sane trader would write such nonsense:
In other reviews on the same site they lie that those. support does not answer that they do not withdraw money - I checked it on myself. Everything is clear!
So I put this site on my blacklist; they are clearly engaged in fakes.
Yes, on another site there is another extreme - super rave reviews:
Of course, all these anonymous reviews are complete nonsense. You can get real reviews either from people you know personally, or check it yourself.
You can also try to trust people like me. Anyone who does not hide their face and actually worked with a broker can prove this through public monitoring.
Partner privileges
As we wrote earlier, the company assigns each of its clients one of seven statuses, which you can find here. After registration, you get “Classic” by default; to achieve subsequent ones, you need to meet one of two basic requirements: have a certain deposit with the company, or continuously cooperate with it for a set period of time (from 1 year).
Table of benefits for each of the seven statuses. Click to enlarge.
For example, having a personal deposit in an amount exceeding $50,000, you will achieve “Premium” status, which in turn will expand your ability to work with this broker. Namely: you will be able to withdraw funds from your personal account without being tied to a payment system, you will receive 2% per annum on your deposit, the company will compensate you for commission expenses when replenishing your account, and the advantage will be an increase in affiliate remuneration by 5%.
Broker regulation
ICE FX was registered in Labuan (Malaysia). Registration number is LL12180. Accordingly, the activities of ICE FX are controlled by the federal regulator Labual FSA (license - MB/15/0007 16th on the list).
The quality of regulation is assessed by investors around the world as “offshore” (or “semi-offshore”). But despite this, Labual FSA does not have any negative stains on its reputation.
However, companies reporting to the regulator do not provide their clients with deposit compensation schemes in the event of catastrophic events at the broker.
As for ICE AM, in accordance with its jurisdiction (Switzerland), the official regulator here is FINMA (Swiss Financial Market Supervisory Authority).
You can check on the regulator’s website by typing “ice markets” into the search.
There are definitely no questions about such a license.
100% A-book model
A little swearing. parts:
A broker is essentially a qualified intermediary. It provides access to private investors to the organized market (let me remind you that ICE FX provides access to Forex).
In this regard, 2 work organization schemes are obvious:
- The broker can act as a counterparty for the trader’s transactions (the so-called B-book scheme). The problem is that the broker is extremely motivated for you to make losing trades.
- The broker consolidates the transactions of all its clients and redirects them to a liquidity aggregator (this is the A-Book system). In fact, a broker is just an intermediary who makes money on commissions and spread markup. In this case, the broker still trades you with a plus or a minus.
In general, the B-book model is characterized by a high degree of opacity in the mechanism for carrying out market transactions. A situation of conflict of interest is formed: all the broker’s profit is the trader’s loss and vice versa – all the trader’s profit is the broker’s net loss. That is why the B-Book model has a different, simplified name - “kitchen”.
On topic: read the article What is a kitchen and how to distinguish it from a normal broker
In fact, I don't believe in the existence of 100% a-book. This is not logical and less profitable, although it would completely eliminate the temptation to lose the client.
I am for an honest division into a-book and b-book. I believe that a broker has the right to decide whose orders to send to the aggregator, and whose orders to leave within itself.
BUT!
If you have left the fulfillment within yourself, please do not put a spoke in the wheels:
- do not widen the spread to hit a stop or not execute a take;
- do not use slippage for profit;
- don’t mess around with requotes;
- do not redraw quotes!
The iCE-FX company declares 100% A-book and is ready to prove it - well, they have the right.
100% proof of the implementation of the A-Book model is the clear correspondence of the declared transactions with those actually carried out on the market. At ICE FX, any client can ask a technical support employee to demonstrate its documentation in the company's back office. To do this, simply name your identification code and transaction ID.
Disclosure of information about counterparties
ICE FX's counterparty disclosure policy is characterized by an unprecedented level of transparency.
Any client who has opened a deposit through a broker has the right and real opportunity to order a complete list of the company’s funds (financial profile), in relation to all accounts (settlement or depository) opened with counterparties (whether banks or trading partners).
In addition, for all clients who want to compare the fact traced in the accounts of counterparties with synthetic accounting, a full range of accounting information is available.
There are 2 modes of providing this information:
- For clients with Elite and Loyal+ status, it is possible to order such information 365 days a year, 24/7.
- Clients with all other statuses can request information about the company’s assets only during the “Absolute Transparency” campaign.
Summary
ICE FX is a popular Forex broker that has been operating completely legally since 2015. During this time, it has not only established itself as a company with maximum openness and a high level of reliability.
One of the key advantages of the platform is that it confirms the reality of interbank transactions, which means that in the work of ICE FX there is no conflict of interest between the broker and the client.
I recommend paying attention and taking note not only to traders, but also to investors who are ready to work with different instruments. I also recommend studying the Neurox forex robot, which works with this platform.
Registration on the site
Denis HyipHunter Knyazev
Blog creator. Private investor. He has been making money in highly profitable investment projects and cryptocurrencies since 2014. Consults partners. Join the blog's Telegram channel and our chat.
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Interesting facts about investments
Transparency of trading conditions
The A-book model generates several advantages at once when carrying out trading operations (for clients):
- The broker does not have the technical ability to worsen trading conditions for profitable traders,
- Since the broker only transmits client orders to the liquidity aggregator, the broker is unable to somehow change the orders themselves. This means that the “kitchen” situation here is impossible in principle: the ICE FX company cannot cancel profitable trades of traders in any way, just as it is impossible to attribute unprofitable transactions to clients (but this can be done by an aggregator-liquidity provider
