All posts by Keil Witherham

Who Is Best GO Markets Or IC Markets

Recently I have been checking out the Australian Metatrader 4 forex provider scene and discovered a variety new power plays appearing down under, on the list of brokers that I found pop up a lot was a company called IC Markets. I had not heard a great deal about this broker until recently where everyone in my fx trading club seems to be talking about them. I decided to check this broker out myself and write an evaluation comparing them to my current broker Go Markets.

To enable me to conduct my evaluation I opened a live Metatrader account with IC Markets. Rather that writing a general assessment regarding my experience I thought that I would focus on a number of aspects that members of our fx trading group search for when deciding on a forex broker. The factors our group looks at are slippage, service and spreads. We evaluate every one of the brokers our members deal with on these parameters.

I will start off by writing about the forex broker that I currently trade with, Go Markets. I have been trading with Go Markets for a few years now so I know this provider inside out, making writing this assessment a great deal easier.

Go Markets We will look at slippage first. I have had slippage problems at Go Markets especially when trading sizes greater than 5 lots, in the past I have been slipped as much as 20 pips. Slippage with Go Markets can also be a real issue around news announcements, this is one of several things that really annoys me about Go Markets.

The spreads at Go Markets are average, I have seen much better elsewhere, lately they made some changes and the spreads happened to get even worse, this was actually one of the things that made me look at IC Markets and subsequently write this review. Spreads are obviously your cost of trading so when spreads are worse it means that it is difficult to generate a profit from the deal.

The service offered from Go Markets is pretty good, I do not have any problems here. They’re speedy to respond to queries and can be contacted 24 hours. It does however frustrate me that their support team usually are not the quickest at resolving issues over the phone, they appear better at fixing issues after you email them though.

Now it is time to look at IC Markets, the newest Metatrader 4 power forex broker on the block. I opened a live account with this broker three months ago so it is fair to say that I have traded with them long enough to write a review regarding them.

IC Markets So far so good when it comes to slippage at IC Markets, I’ve put trades on as large as ten standard lots without being slipped. IC Markets also seem very good over the numbers I haven’t had any slippage yet. I believe that since IC Markets is an ECN provider their execution and liquidity is a lot better than other forex brokers which means slippage does not exist.

IC Markets spreads are some of the best that I have experienced, not only are their spreads tight in the majors, spreads on the crosses are also very good. Because IC Markets are an ECN broker they charge a fee on the deals executed, you should take this into consideration when looking at their spreads. Even when you are taking the commission into account the cost of dealing is roughly 20%-30% lower than Go Markets.

I did not know what to expect of the IC Markets service but after opening my forex account I was pleasantly surprised. IC Markets staff members are polite and well-mannered. They were really fast to reply to my questions and answered my telephone calls at midnight. I was invited to one of their webinars whilst chatting to one of their support people and I was really impressed. It seemed like my miserable little forex trading account got me red carpet treatment.

Conclusion The old faithful Go Markets isn’t so faithful compared to IC Markets. IC Markets are significantly better in terms of pricing, they’re approximately 20-30% less expensive and better still slippage is non-existent. IC Markets service is also second to none I received VIP treatment even with my small account balance. I am really glad that I carried out this review as I have now discovered my new favourite Australian forex broker. I’m going to still keep my Go Markets forex account as a backup account but now I will do nearly all of my fx trading on my IC Markets trading account. I trust this appraisal helps anyone looking to trade with any of these forex brokers.

To know more about IC Markets, visit our website Go Markets & IC Markets

Tight Spread Metatrader Broker In Sydney

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.

To know more about forex trading, visit our website forex trading and IC Markets

Forex Insights At IC Markets And Vantage FX

There’s a lot of forex brokers in Australia, a few are white label forex brokers and others are core forex brokers. The two newest fx brokers to hit the foreign exchange scene in Australia are IC Markets and Vantage fx as I am always interested in trying new forex brokers I thought that I would check out both of these firms to find out what all of the fuss was about.

Before I share my analysis with you I thought that I would let you know that both brokers use the Metatrader 4 platform and have quite tights prices, however IC Markets is a real ECN forex broker and Vantage FX is a market maker broker. Being a market maker broker isn’t a problem so long as the broker doesn’t play games with the prices when you start making money, however unfortunately this is a huge problem with most market maker brokers.

After trading using the Vantage Fx live trading platform for 2 months I found that their prices were reasonable and stayed somewhat tight during news announcements. One thing that did annoy me was that when I attempted to trade any quantity larger than two standard lots their execution speed would drop significantly, it was as if my order was being sent to a dealing desk to be manually filled. When trading sizes of less than one standard lot I didn’t have any problems whatsoever though I am positive that if I commenced to make money my execution speeds would have been slowed down no matter what. The Vantage fx trading platform is Metatrader 4 so this is a really a huge advantage for the company as I am able to utilize my expert advisers without any issues. Their server appears to be fairly reliable and didn’t disconnect me all the time which was on the list of huge issues that I’ve had with a number of the other Metatrader 4 forex brokers in Australia in the past.

I discovered the service at Vantage fx to be pretty average, they were able to assist me with a good number of things, however they do rely on their clients being familiar with Metatrader 4 and don’t help a lot with the initial platform setup, this could be an issue for new forex traders who are not familiar using the Metatrader 4 platform. I tried to get in touch with them after-hours on several occasions and seemed to get through to the exact same drowsy and ill-tempered guy each time, he wasn’t very helpful at all. After hours support is certainly not this fx brokers expertise.

IC Markets also use the Metatrader 4 platform which is of course a huge plus for them also, one of several attractive aspects of this broker is that they’re a true ECN broker which is unlike nearly all other Australian brokers. After 2 months trialling this broker, every time I traded I continued to be amazed at the spreads they were showing me. I had always heard that ECN forex brokers were able to show better spreads than their market marker colleagues, however I did not realize that the spread differences could possibly be that substantial, I was often able to deal on Zero spreads on IC Markets Metatrader.

I had found several forum posts stating that the execution speeds of a few ECN fx brokers can be slower as deals must be confirmed within the ECN market place before they are executed. Over my two months of trading with IC Markets I did not notice any latency problems at all, my deal execution speed was in fact quicker with IC Markets than with Vantage FX.

On the list of main advantages of ECN brokers is that large trades can be placed without any delays or rejections. I confirmed that this was possible with IC Markets. I experimented with trades as much as 7 standards lots in size without latency or slippage problems, I would have tried putting on bigger trades but I was restricted by my trading account balance.

I spoke to IC Markets a number of times just to see how good their support was and I discovered that they were very helpful, they guided me through the Metatrader platform and were able to assist with a few fx trading queries that I had, this was a real surprise to me. I tried contacting them after hours expecting their support to decline however this wasn’t the case the person I spoke to understood the Metatrader platform well.

If I was to suggest one of these broker platforms to members of my forex trading group there is no doubt that it would be IC Markets, Vantage FX however remains a very good broker, however they would not be good for active fx traders or those using expert advisers. IC Markets is a good all round broker their prices are extremely low which is good for scalpers, there are no order size limitations, they offer the Metatrader platform and their service is quite outstanding and definitely the best that I’ve experienced out of all the Metatrader 4 forex brokers in Australia. I personally now deal with IC Markets myself.

To know more about forex trading, visit our website Vantage FX and IC Markets

Why I Chose IC Markets For My Forex Trading

A short time ago I was introduced to a forex broker named IC Markets by a friend of mine who operates a flourishing Sydney based hedge fund. As I’m an expert trader I thought that I would spend some time conducting my homework on the company before I open an account so I though that I would visit their offices in Sydney to discover more, I was extremely impressed with what I discovered.

In the course of my visit to the office I quickly discovered that IC Markets is not just a web-based forex and CFD company but they even have stockbroking, financial planning and corporate advisory divisions that span over two floors of a prominent Sydney CBD business address. I sat down in their boardroom which was decorated with artwork and overlooking the Sydney harbour bridge to meet with their Head of Trading and discuss their foreign exchange product. He explained to me that they have got relationships with over thirty five international investment banks who provide IC markets with their forex liquidity and that this is exactly the reason that they are able to offer Australia’s and quite perhaps the world’s first true Metatrader 4 ECN offering.

The Head of Trading introduced me to their Chief Operations Officer who showed me personally their in-house ECN software, and how it produces a virtual marketplace enabling traders to include their liquidity to what is already being offered by the investment banks that IC Markets has relationships with. I was surprised to see spreads that were inverted and displayed volumes of over 100 standard lots on the bid and offer at any given moment. I was quickly certain that trading in a real ECN market place was the only way to go for any foreign exchange trader.

Subsequent to spending more than an hour in the boardroom with the Chief Operations Officer he invited me to sit on the trading desk to watch order flow build up within the ECN market place just ahead of London open. I went over to the trading desk and sat back with the Chief Operations Officer and watched the huge amount of volume pour in from traders globally and the biggest investment banks world wide, it was an amazing spectacle watching deals trade with one another at a rate of one hundred every second. This was something that as a forex trader I had never been aware of when sitting behind my trading displays at home in my Brisbane office.

After the hospitality that the IC Markets staff showed me I was certain that not only trading in an ECN environment was the only way to go but also that IC Markets ECN technology was ground breaking and quite possibly a world first for any Metatrader 4 forex provider.

It’s been five months since opening my IC Markets foreign exchange trading account and I haven’t looked back, the ECN spreads are spectacular and more importantly the execution is the best that I’ve ever experienced. The IC Markets forex package is certainly the best offered by any forex broker in Australia. I recommend that if you’re searching for an ECN forex broker you give IC Markets a go as I’m certain that if you’re a professional trader like me you won’t ever look back.

To know more about currency trading visit forex and IC Markets