I have been trying to find an Australian founded forex broker with tight spreads for a while now and only just recently I discovered a forex broker called IC Markets. After doing a little research into this forex broker I found that they’re a real ECN forex provider situated in Sydney. I also discovered that they have got a local Metatrader 4 server which is a advantage. I decided to check them out to see just how superior their spreads really are, I was so impressed that I thought that I’d write a review regarding IC markets to share my discovery with any other traders looking for an ECN forex provider in Australia.
I opened my forex trading account with IC Markets 5 months ago so I have had a lot of time to test them thoroughly and share my findings. On the list of the key things that you’ll notice about IC Markets are the ECN spreads that they show. It’s a refreshing sight to see EUR/USD spreads at 0.2 pips and occasionally even Zero pips, but I guess that is what you receive when you are trading with an ECN forex broker as opposed to a market maker.
Along with extremely tight spreads I discovered that IC Markets Metatrader trading platform was very reliable. With the majority of other Metatrader fx brokers that I have traded with I have experienced outages, however over the past five months I haven’t had one down time with IC Markets. Although I am guessing, I believe that their solid reliability is because they are an ECN so they need to make sure that like a equity exchange the ECN system does not fail and effect every one of the ECN participants.
IC Markets Metatrader 4 platform is quite dissimilar to all other fx brokers Metatrader platforms because it has an awesome one click one trading feature that makes scalping a great deal easier and faster. I’m not a big fan of the old Metatrader deal tickets as placing trades takes too long, this is the reason I love the one click forex trading functionality on IC Markets Metatrader trading platform. Their platform also has a couple of other awesome features including forex trading off the charts and allot more contingent order types than the normal Metatrader 4 platform.
Obviously it is all well and good to show great pricing on your Metatrader 4 platform, however it is useless if you cannot deal on this pricing. There are some brokers out there that I know about which quote ECN like spreads but delay your trade execution and slip you on your fills, they are dirty methods that market maker brokers use, a real ECN broker would never play these sorts of games. I have never had any execution issues with IC Markets, deals are filled in less than half a second with no slippage. I have also tried trading up to 13 standard lots on my trading account and the trade was filled instantly. IC Markets order execution is by far the very best that I have ever experienced.
After five months of trading forex with IC Markets I can confidently say that IC Markets are one of the top brokers in Australia, if not the best broker. I was impressed by their spreads and quality of execution and the little extras on their version of Metatrader 4 were enough to make me shut all my other forex broker trading accounts, IC Markets has become my primary forex provider, no other broker in Australia comes close. I would be happy to recommend IC Markets to anybody that’s serious about their forex trading.