DislikedDoes anyone here have any experience with ICMArkets Seychelles? Compared to the AU one?Ignored
- Products, services, server- and trade execution speed through their ECN network are the same between both AU and SC
- Clients funds are being kept segregated from their own company funds. Funds will be held by AA tier banks. No difference here between AU and SC.
Both AU and SC have their own regulator; ASIC(AU) and FSA(SC). This creates differences on the following:
- From the 29th of March there will be a difference in maximum leverage on CFD forex. IC Markets accounts on regulator ASIC will have a maximum leverage of 1:30 for major currency pairs, 1:20 for minor pairs. On account with regulator FSA the 1:500 will be maintained. This is stated directly on their website (global offering).
- While ASIC has extra measurements in place (especially after the 29th of March) to protect the customer, SC has not. You can for example think of negative balance protection, in which accounts can never result in a debt towards the broker. While rare, this could happen on extreme black swan events.
Personally i take the last bulletpoint for granted. I have been trading with IC Markets for a long time. Long enough to know that they are trustworthy. As long as you trade responsibly, negative balance protection is an extra, but deffinately not a must.