ICE FX Review 2022

Flag Traders in United States welcome

ICE FX is a global STP broker boasting access to MT4 and CFD trading in four major asset classes: forex, crypto, precious metals and energies.

InstrumentsCFD, Forex, Crypto
Demo AccountYes
Min. Deposit$30
Payment Methods
Min. Trade0.01 lots
Regulated ByLabuan FSA
MetaTrader 4Yes
MetaTrader 5No
cTraderNo
OmniTraderNo
AlgoTraderNo
TradingViewNo
STP AccountYes
ECN AccountNo
DMA AccountYes
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsiOS & Android
Margin TradingYes
Volatility IndexNo
Spot TradingNo
Perpetual SwapsNo
ELWsNo
REITsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionNo
VPS HostingNo
TournamentsNo
Demo CompetitionsNo
Managed AccountsNo
Market MakerNo
Social TradingNo
Copy TradingNo
Islamic AccountNo
Account Currencies
  • USD
CFD TradingCFDs are offered by ICE FX on foreign exchange, UK and US oil, precious metals and cryptocurrencies.
CFD FTSE SpreadN/A
CFD GBPUSD Spread1.0
CFD Oil Spread0.5
CFD Stocks SpreadN/A
CFD Leverage1:300
Forex TradingICE FX clients can speculate upon the foreign exchange markets with the world-renowned MT4.
Forex GBPUSD Spread1.0
Forex EURUSD Spread0.8
Forex EURGBP Spread1.3
Forex Assets36
Crypto TradingICE FX clients can trade five major cryptos with floating spreads against the US dollar.
Crypto LendingNo
Crypto MiningNo
Crypto Auto Market MakerNo
Crypto Coins
  • BCH
  • BTC
  • ETH
  • LTC
  • XRP
Risk Warning – Your capital is at risk

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.

Assets

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.

Fees

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.

Leverage

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

Deposits

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).

Withdrawals

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:

STP

Uses the best possible prices via a liquidity aggregator.

STP-MA

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.

Benefits

Drawbacks

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.

FAQs

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.

Accepted Countries

ICE FX accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Compare ICE FX

Compare ICE FX with similar brokers that accept traders from your location. Among available brokers these are the most similar to ICE FX:

  1. Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.
  2. IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
  3. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. eToro USA LLC does not offer CFDs, only real crypto assets available.
  4. AAAFx – AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.

ICE FX Comparison Table

Compare ICE FX With Similar Brokers
ICE FX Forex.com IG Group eToro AAAFx
Rating 4.5 4.4 4.7
Markets Forex, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto
Demo Account Yes Yes Yes Yes Yes
Minimum Deposit $30 $100 £250 $10 $10
Minimum Trade 0.01 lots $1 0.1 lots $10 0.01 lots
Regulators Labuan FSA CySEC, IIROC, NFA, CFTC, FCA, CIMA FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin FCA, CySEC, ASIC, FSA HCMC (Greece), FSCA (South Africa)
Bonus No 100% Deposit Bonus available for Global clients
Education Yes Yes Yes No
Platforms MT4 MT4 MT4 MT4, MT5
Leverage 1:300 1:200 1:30 1:30 EU 1:30 EU, 1:500 Global
Payment Methods 8 8 6 14 8
Detailed Comparison ICE FX vs Forex.com ICE FX vs IG Group ICE FX vs eToro ICE FX vs AAAFx
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Compare Trading Instruments

Compare ICE FX Trading Instruments
ICE FX Forex.com IG Group eToro AAAFx
CFD Yes Yes Yes Yes Yes
Forex Yes Yes Yes Yes Yes
Stocks No Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil No Yes Yes Yes No
Gold No Yes Yes Yes Yes
Copper No No Yes Yes No
Silver No Yes Yes Yes No
Corn No No No Yes No
Crypto Yes Yes Yes Yes Yes
Futures No Yes Yes No No
Options No Yes Yes No No
ETFs No No Yes Yes No
Bonds No Yes No No
Warrants No No No No
Spreadbetting No No Yes No No
Volatility Index No No Yes Yes No

ICE FX vs Other Brokers

Compare ICE FX with any other broker by selecting the other broker below.

ICE FX vs
ICE FX is a global STP broker boasting access to MT4 and CFD trading in four major asset classes: forex, crypto, precious metals and energies.