seems quite strict on account opening requirement. asked me to have certified true copies of document sent via post. kind of too troublesome to me as compared to other brokers
I opened a live MT4 a/c with them three weeks ago. My expericence so far has been -
On the positive side:
* Fair spreads - e.g., 0.8 pip on EU, which, combined with a flat $10/Lot commission on all pairs is not bad - and on other pairs, especially the less traded, they are better than what other brokers suggest for retail customers.
* Price feed that seems to be genuine - not smoothed or filtered by the broker.
* Amazingly fast execution - orders are filled in within 150 msec or so, something you usually see on a demo a/c with other brokers - and I reside in the other end of the world with a rather slow (10M) ADSL.
On the negative side:
* Their web site is completely uninformative. No specification of trading conditions whatsoever.
* The minimum trade size is 0.05 lot, for a small a/c this may be too much (they allow to open an a/c with only $1000).
* The automatic margin is 1:100, to increase it, you have to fill in a form and fax/mail it to them - and then they increase the margin at their discretion - I got 1:250, why? God knows...
* Spot Gold/Silver, although appearing on the demo platform, are available only when you manage your a/c in AUD. Why? Again, only He knows...
Meanwhile, while I'm not completely happy, I'm sticking to them because of the perfect executution, I don't see any better alternatives.
I opened a live MT4 a/c with them three weeks ago. My expericence so far has been -
On the positive side:
* Fair spreads - e.g., 0.8 pip on EU, which, combined with a flat $10/Lot commission on all pairs is not bad - and on other pairs, especially the less traded, they are better than what other brokers suggest for retail customers.
* Price feed that seems to be genuine - not smoothed or filtered by the broker.
* Amazingly fast execution - orders are filled in within 150 msec or so, something you usually see on a demo a/c with other...
".........I'm not completely happy, I'm sticking to them because of the perfect executution, I don't see any better alternatives."
Once upon a time they were considered pretty bad, so I never thought of checking them. I don't see too many reviews - do you trade with them? How do you like them?
[quote=ilanr;5505487]
Hi Ilan, you have said you have openned a live account with IC Markets Australia, did you have problems to make your deposit and to open your MT4 ?
Me, I've : that's make over two weeks and no news.
Olivier
No, it isn't about execution speed. Its bc of many lost ticks, up to 15%. This makes their platform pretty worthless for fast scalping. ICM comment on this issue: " We care more about non scalpers"
No, it isn't about execution speed. Its bc of many lost ticks, up to 15%. This makes their platform pretty worthless for fast scalping. ICM comment on this issue: " We care more about non scalpers"
Which broker in your opinion is good for scalping?
I use IC Markets and have never seen what you are referring to.
They offer EURUSD at 0 / Zero Spreads most of the time.
StopLevel of 0 / Zero Pips, which means you can place orders INSIDE the Spread.
Fastest trade to trade order execution time I can find of around 0.3 to 0.4 sec from a net based laptop. VPS is faster again. This is not Ping time, which basically is only a small part of the overall Trade Execution time.
Australian Regulated.
Excellent support.
Good Liquidity.
Have discussed this with IC Markets people, who say they are VERY Scalper friendly.
They DO NOT deal against you.
They make money from Lots going though their servers.
But hey maybe stay away as I don't want their server getting slow?
You can always talk to them direct:
Angus Walker:
a dot walker at icmarkets dot com dot au
I have no financial interest with IC Markets.
My comments are my own and based on personal experience.
Hey BB,
This is why i asked Onu how long ago coz I spoke to them yesterday and they said they dont really care what kind of trading you do coz they are true ecn with commissions so they make commissions and nothign more. Which makes sense coz the more you trade the more they make with commission based service, think I will give them a go and fidn otu for myself.
Cheers
I use IC Markets and have never seen what you are referring to.
They offer EURUSD at 0 / Zero Spreads most of the time.
StopLevel of 0 / Zero Pips, which means you can place orders INSIDE the Spread.
Fastest trade to trade order execution time I can find of around 0.3 to 0.4 sec from a net based laptop. VPS is faster again. This is not Ping time, which basically is only a small part of the overall Trade Execution time.
Australian Regulated.
Excellent support.
Good Liquidity.
Have discussed this with IC Markets people, who...
My comments are my own and based on personal recent experience too..
It was the mentioned Angus Walker who gave the quoted statement on an email, when I and another friend and trader complained about the missing ticks issue.
I'm still watching on the live feed the ticks. Right now the score is around 91%, the daily average of lost ticks was about 10%. Seems ICM is aware of this issue now and try to improve. As long as the average score isn't constantly on at least 95% I don't run fast scalpers there anymore. While I make good money on broker with zero lost tick, I hovered around break even on ICM with the same trading software.
