ICE Markets
Pros and Cons
Pros
- Diverse range of trading instruments including 44 currency pairs and multiple cryptocurrencies
- Accessible minimum deposit of $30 for account opening
- Competitive trading fees with low commission rates
- Multiple trading platforms including MT4 for enhanced trading experience
- Flexible leverage options up to 1:300 available for STP accounts
Cons
- Not regulated by any recognized financial authority
- Limited trading instruments with no stocks or ETFs
- Absence of advanced educational resources for traders
- Potential inactivity fees and overnight interest charges
- Limited customer support availability and no multilingual options
Basic Information
User Reviews
ICE Markets Overview
ICE Markets is a forex broker established in 2017 and registered in Saint Lucia. The company operates under the name ICE Markets Limited and has been active for a period of 2-5 years. While it offers forex trading services, it’s important to note that ICE Markets does not currently hold a valid forex trading license, which raises potential concerns regarding its regulatory status and overall trustworthiness in the market.
Is ICE Markets Safe? Regulation Analysis
Regulatory Information
ICE Markets is not regulated by any recognized financial authority. The absence of a valid forex trading license raises concerns about the broker’s regulatory status and overall trustworthiness. Trading with unregulated brokers like ICE Markets poses significant risks, including a lack of investor protection and a higher potential for fraud.
Is ICE Markets Regulated and How Are Client Funds Protected?
Trading Products and Services
What trading instruments does ICE Markets offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | 44 Currency pairs | |
| Commodities | Gold, Silver, Oil | 2 |
| Indices | ||
| Stocks | ||
| Cryptocurrencies | BTC, ETH, XRP, LTC | 45 |
ICE Markets offers a diverse range of trading instruments across multiple asset categories, primarily focusing on Forex, commodities, and cryptocurrencies. The availability of 44 currency pairs allows traders to explore various market conditions and strategies, catering to both beginners and experienced traders. Additionally, the inclusion of cryptocurrency options, such as Bitcoin and Ethereum, provides flexibility for those looking to diversify their portfolios. By offering a variety of products, ICE Markets supports the needs of different trading styles, whether short-term speculation or long-term investment strategies, enhancing user adaptability in the ever-changing financial landscape.
Account Types and Trading Conditions
What Account Types and Fees Does ICE Markets Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| STP Account | Retail traders | Floating leverage up to 1:300, low commission | Minimum deposit of $30 |
| STP-MA Account | Experienced traders | Managed account with lower leverage up to 1:100 | Minimum deposit of $300 required |
| STP Demo Account | Beginners and practice traders | Fixed leverage at 1:100 | Ideal for testing strategies without risk |
Account Opening Process
To open an account with ICE Markets, traders must submit personal information, including identity verification documents such as an ID and proof of address. Additionally, employment and financial information may also be required. The process allows for flexibility, enabling users to upgrade to a professional account if desired at a later stage.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0.0025 – $0.25 | Tight spreads for major pairs |
| CFDs (Commodities) | Variable | $0.004 – $0.006 | Standard rates apply |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on market conditions |
Other Fees
ICE Markets does not impose fees for deposits and often reimburses costs associated with payment systems. However, users should be mindful of potential inactivity fees and overnight interest (swap rates). Currency conversion fees may also apply when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does ICE Markets Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4 | Windows, macOS, iOS, Android | Secure login (2FA), multiple order types, technical indicators, symbol lookup | Demo accounts, VPS |
| Web Version | Browser-based (PC, mobile) | Encryption, order types, price alerts | None |
| Mobile App | iOS, Android | Biometric login, push notifications, market alerts | None |
ICE Markets provides access to various trading platforms to cater to different trader preferences. The MT4 platform is well-suited for advanced trading needs, offering multiple tools for analysis and execution, as well as secure login options. The web version facilitates trading directly from a browser, ensuring accessibility across devices, while the mobile app enhances convenience for traders on the go, allowing them to manage their accounts anytime. Each platform supports secure logins and fast order execution, along with real-time alerts and efficient search tools, improving the overall trading experience.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min $30, Max $10,000/day | USD, EUR |
| Credit/Debit Card | Instant | No platform fee, 2.5% charge | Min $30, Max $5,000/day | USD |
| Crypto Wallets | Instant | No platform fee | Min $30, Max $10,000/day | BTC, ETH |
Minimum Deposit
ICE Markets requires a minimum deposit of $30 to open an account. This amount is consistent across all payment methods and account types, making it accessible for most traders.
How to Withdraw
To withdraw funds from your ICE Markets account, follow these steps:
- Log in to your ICE Markets account.
- Navigate to the ‘Withdrawal’ section in the account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, ensuring it meets the minimum and maximum limits.
- Confirm your withdrawal request and submit it for processing. You will receive a confirmation of your request via email.
Customer Support
ICE Markets Customer Support Overview
Support Channels
ICE Markets offers multiple contact methods for customer support, ensuring traders can easily reach out for assistance. These include:
- Email: Customers can contact support via support@ice-markets.com for any inquiries or issues.
- Telephone: Assistance is also available through their dedicated phone line at +44 20 8089 7867.
Service Availability
ICE Markets provides customer support during standard business hours. However, specific hours of availability are not disclosed. Multilingual support is not explicitly mentioned, which may limit assistance for non-English speakers.
Frequently Asked Questions
ICE Markets is not regulated by any recognized financial authority. The absence of a valid forex trading license raises concerns about the broker’s regulatory status and overall trustworthiness.
ICE Markets offers three types of trading accounts: the STP Account for retail traders with floating leverage up to 1:300, the STP-MA Account for experienced traders with lower leverage up to 1:100, and a STP Demo Account for beginners to practice trading strategies.
ICE Markets provides various deposit and withdrawal options, including bank transfers, credit/debit cards, and crypto wallets. The minimum deposit is $30, and there are no platform fees for deposits. Withdrawal requests can be processed through the account dashboard, following specific steps to select the method and confirm the amount.
ICE Markets supports multiple trading platforms including MT4, which is available for Windows, macOS, iOS, and Android. They also offer a web version for browser-based trading and a mobile app for trading on the go.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.