ICE FX Review 2024

2 / 5
ICE FX is #107 in our CFD broker rankings.

ICE FX will serve traders looking to trade popular fiat currencies and cryptocurrencies on the MetaTrader 4 platform. The PAMM/MAM solution will also appeal to hands-off investors.

- Daytrading Review Team

ICE FX is a global STP broker with access to MetaTrader 4 and CFD trading in four major asset classes: forex, crypto, precious metals and energies. The offshore brokerage offers competitive trading fees, 24/5 customer support and a loyalty scheme for active investors.

CFDs, Forex, Cryptos
Skrill, Neteller, Debit Card, Credit Card, Wire Transfer, Visa, Mastercard, Bitcoin Payments

Forex Trading

Trade 36 major, minor and exotic currency pairs with ICE FX. Leverage up to 1:300 is available and spreads start from 0.0 pips on popular currency pairs.

CFD Trading

75 CFDs are available on foreign exchange, UK and US oil, precious metals and cryptocurrencies. You can trade CFDs with STP execution and a low minimum order size of 0.01 lots.

Crypto Trading

Trade five crypto CFD contracts 24/7 including the BTC/USD and ETH/USD. Leverage up to 1:10 is available alongside floating spreads. On the downside, the range of digital currencies trails the top crypto brokers.

✓ Pros

  • Tier-based loyalty scheme with access to a free VPS and interest rate payments on uninvested balances
  • Access to the MT4 desktop, web and mobile platform with powerful analysis and customizable charting
  • Low fees with tight spreads from 0 pips, commissions between 0.0025% and 0.25%
  • Reliable customer support available 24/5 via phone, live chat, Skype and email
  • Hybrid PAMM/MAM account with low commission fees from 0.004%
  • Range of payment methods including cryptocurrency
  • Fast STP execution speeds of less than 1 ms

✗ Cons

  • Offshore regulation from the Labuan Financial Services Authority (Labuan FSA) raises safety concerns
  • Very slim product portfolio with only 75 instruments and no stocks
  • No education for beginners

ICE FX is an offshore multi-asset online broker offering 60+ trading instruments on the MetaTrader 4 platform. The service offers direct-to-market execution. Our review will cover the latest trade info, MT4 data services, average FX rates available, minimum deposit requirements, and more.

ICE FX Headlines

ICE FX Markets Ltd was established in 2015 and is registered as a financial service in Malaysia and regulated by the Labuan Financial Services Authority (Labuan FSA). In addition to its trading opportunities, the broker offers a functional investment platform with professional manager directives. Services are global, though there are some restricted countries, including the United States.ICE FX Review 2021

Trading Platform

ICE FX clients gain access to the MetaTrader 4 (MT4) trading platform. Retail traders can download MetaTrader 4 to desktop devices or it can be used directly via all major web browsers. The terminal is well-established in the industry, with positive reviews highlighting its simple navigation and user-friendly interface. Features include:

Note, the broker does not currently offer MetaTrader 5 (MT5) trading platform.


ICE FX offers clients trading opportunities in the below forex and CFD markets:

The broker offers market execution and partial execution types.

An investment platform is also supported via an ICE FX managed account. Traders can select a professional trading agent to invest funds in relevant assets. Loss limits can also be added by the investor to protect capital.


The broker charges a commission on all account types. This varies between 0.0025% and 0.25% on the STP account and 0.004% and 0.006% on the STP-MA account. Although small, these should be carefully considered as they can eat away at profits. The broker does charge swap rates for positions held overnight, as standard in the industry.

Spreads offered by the broker vary with the instrument traded. As ICE FX works on an STP model, spreads are quoted directly from liquidity providers. Average spreads on major forex pairs, including EUR/GBP and GBP/JPY average 1.5 pips. Gold and silver precious metals average 2.5 pips.


ICE FX leverage rates are floating and vary by account type and instrument. Rates go up to 1:300 under the STP account. There are no regulatory caps as the broker is not compliant with ESMA trading regulations.

Mobile Apps

The MT4 integrated trading application is available for free download to iOS and Android (APK) devices. Access the desktop client’s full range of trading features, analytical tools and customisable charts and graphs while on the go. Features include:

Payment Methods


ICE FX minimum deposit requirements are relatively low, sitting at just $30 for a trading account and $10 for an investment account. The broker only accepts USD deposits. Funding accounts is free and the broker provides full compensation of any commissions on deposits. Payment methods include:

Note, Skrill and Neteller are not available to customers in the European Economic Area (EEA).


Funds must be withdrawn back to the original payment method, though those with privilege status may be able to access exceptions and make withdrawals to a payment method of choice. The broker does not charge a fee for any withdrawals. Withdrawal methods include:

Demo Account

A free demo account is available via the broker’s website on the MT4 trading platform. These accounts are a good, risk-free way to practise trading, navigate platform features and test strategies. Quotes are received directly from the liquidity aggregator as per the live accounts, so traders can experience real market conditions. Clients must complete an online registration form.

Deals & Promotions

ICE FX broker offers various bonus and incentive programmes. This includes a mitigation bonus, a reward for transferring funds from other brokerages. This is offered at 6% of the transfer as a rebate, a refund of any applicable transfer fees, and up to 30% additional referral commission for customers that also transfer from other companies. Keep an eye on company news for the latest incentives. Always read the terms and conditions of live deals and promotions.

Privileged statuses are offered to ICE FX clients that contribute large deposits. This includes access to a free VPS server, accumulated interest up to 2% pa on deposits and compensation of deposit commissions. Premium client status is applied once the account balance is $50,000 or more.

Regulation & Licensing

ICE FX is regulated by the Labuan Financial Services Authority (Labuan FSA). Traders should be aware that the FSA is not regarded as a top-tier regulator and might not offer the same levels of protection as other established financial bodies. Under this authorisation, the broker is not obliged to keep client funds segregated or provide negative balance protection in the case of business insolvency. Always be wary of offshore brokers and action additional research before opening a live account.

Additional Features

ICE FX company news info posts are accessible on the broker’s website. The latest information includes details of new deposit methods, changes to trading conditions, contracts and specifications and working schedules. Our review was disappointed to see ICE FX Markets offers limited educational content, which is particularly poor for inexperienced traders.

There is no specific page for tutorials or tips, this information is found across various pages and is not particularly user-friendly. It would be good to see the implementation of e-books, webinars, exchange data services or technical indicator analysis. We did come across a step-by-step guide of how to trade with ICE FX, which was useful and included how to download the MT4 trading terminal.

ICE FX MT4 forex, cfd and crypto trading platform
ICE FX MetaTrader 4 Platform

Account Types

ICE FX offers two live trading account types; STP and STP-MA. Both accounts offer no dealing desk execution, access to all trading instruments and USD base currency only. Details of the live accounts include:


Uses the best possible prices via a liquidity aggregator.


A modified STP account intended for the additional management of investors’ funds.

Investment Account

Select a professional manager to invest funds in relevant assets.

It is quick and easy to open a live ICE FX account. Customers must complete an online registration form. You may be required to provide identification verification documents such as proof of residency under the know-your-customer (KYC) compliance.

Trading Hours

The brokerage follows 24-hour trading department office hours, available Monday to Friday and 24/5 trading hours. However, these timings may vary by instrument.

Customer Support

ICE FX offers the below customer services contact details:

Safety & Security

Client accounts are password protected. The MT4 trading terminal offers secure login features, industry-standard data privacy and integrated dual-factor authentication. This includes 128-bit encryption and 2FA protocols. Our review has found limited additional security measures in place for clients. It would be good to see details posted on account verification and personal detail privacy.

A third-party monitoring system can be connected to view trading activities of all managed accounts. The external auditing should give traders reassurance and full transparency of all activities.

ICE FX Verdict

ICE FX offers a decent selection of trading instruments on the MetaTrader 4 platform. Accounts are accessible with a small deposit across several payment methods, ideal for new traders. We would flag that the limited regulatory processes being implemented are a concern and advise to carefully consider client protection, including segregated funds, negative balance protection and data privacy before opening an account.


What Trading Instruments Does ICE FX Offer?

ICE FX Markets Ltd offers 60+ trading instruments. Asset classes include forex, commodities, cryptocurrency and spot metals. Note, there are currently no futures or options trading opportunities.

Is ICE FX Regulated?

ICE FX is overseen by the Labuan Financial Services Authority (Labuan FSA). This is an offshore license and may not offer the same levels of client protection as regulation offered by agencies like the Financial Conduct Authority (FCA), London, UK.

What Trading Platform Does ICE FX Offer?

ICE FX offers the globally recognised MetaTrader 4 (MT4) trading terminal. This is a popular platform with a good range of functionality, as well as an easy-to-use interface.

What Are The Minimum Deposit Requirements To Open An ICE FX Account?

New clients are required to deposit just $30 to open a live STP account. This is relatively low and ideal for an inexperienced trader. This increases to $300 for an STP-MA account.

What Trading Account Types Does ICE FX Offer?

ICE FX offers two real account types with STP execution, the STP Account and STP-MA Account. Minimum deposit requirements start from $30 under the STP Account. Applicable commissions and leverage rates vary.

Top 3 Alternatives to ICE FX

Compare ICE FX with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

  2. AvaTrade – AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.

  3. Swissquote – Swissquote is a Switzerland-based bank and broker that offers online trading and investing. The company has a high safety score and is listed on the Swiss stock exchange. The firm offers a huge range of products, from stocks, ETFs, bonds and futures to 400+ forex and CFD assets. Hundreds of thousands of traders have opened an account with the multi-regulated brokerage. Clients can get started in three easy steps while 24/7 customer support is available to assist new users.

ICE FX Comparison Table

Compare ICE FX With Similar Brokers
ICE FX IG AvaTrade Swissquote
Rating 2 4.4 4.9 4
Markets CFDs, Forex, Cryptos CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures Forex, CFDs, Indices, Stocks, ETFs, Bonds, Options, Futures, Cryptos (location dependent)
Demo Account Yes Yes Yes Yes
Minimum Deposit $30 $0 $1000
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Education No Yes Yes No
Platforms MT4 Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade MT4, MT5, AutoChartist, TradingCentral
Leverage 1:300 1:30 (Retail), 1:250 (Pro) 1:30 (Retail) 1:400 (Pro) 1:30
Payment Methods 8 6 13 5
Visit Visit Visit Visit Visit
Review IG

Compare Trading Instruments

Compare the markets and instruments offered by ICE FX and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare ICE FX Trading Instruments
ICE FX IG AvaTrade Swissquote
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks No Yes Yes Yes
Commodities No Yes Yes Yes
Oil No Yes Yes Yes
Gold No Yes Yes Yes
Copper No Yes Yes No
Silver No Yes Yes Yes
Corn No No Yes No
Crypto Yes Yes Yes Yes
Futures No Yes Yes Yes
Options No Yes Yes Yes
ETFs No Yes Yes Yes
Bonds No Yes Yes Yes
Warrants No Yes No No
Spreadbetting No Yes Yes No
Volatility Index No Yes Yes No

ICE FX vs Other Brokers

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The most popular ICE FX comparisons:

  1. ICE FX vs Saxo Bank

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ICE FX is a global STP broker with access to MetaTrader 4 and CFD trading in four major asset classes: forex, crypto, precious metals and energies. The offshore brokerage offers competitive trading fees, 24/5 customer support and a loyalty scheme for active investors.