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IC Markets or FP Markets?

  • #41
  • Apr 6, 2020 10:46am Apr 6, 2020 10:46am
Quoting Jlrobert
{quote} I don't think they are connected though. From what i can see FP Markets was established in 2005 and IC only a couple of years later in 2007? The only association i can see is they both (along with other brokers) are a part of Australian CFD & FX association https://www.cfdfxassociation.com.au/
Tnx man, for the research... Yeah, then they are probably both using similar web design/layout/template or maybe even same white label, of larger broker/bank etc... Which might be good. I prefer when there is someone "behind", just in case...
Can you afford to take that chance?
  • #42
  • Apr 16, 2020 9:24am Apr 16, 2020 9:24am
Which out of the two brokers have the better execution speeds?

I'm a scalper and use EAs for kind of high frequency trading. So would want a broker that had the fastest and most reliable Execution ?
  • #43
  • Apr 16, 2020 10:30am Apr 16, 2020 10:30am
Possibly, most of these brokers i believe have a very similar setup.

Be it FP Markets, ICM, Pepperstone & so on.. all have a very similar business- Right from pricing, platforms, etc. and as far as i'm aware they all use OneZero Financial for their backend execution and stuff.
  • #44
  • Apr 20, 2020 9:47pm Apr 20, 2020 9:47pm
Quite a number of australian brokers have setup offshore companies like in seychelles, Vanuatu etc to prepare for ASIC changes to leverage. But their main office is still in Australian, bank account the same.
This is different from companies where they actually have an operational office in those countries.

Seychelles and Vanuatu do not require you to have operational office in those countries to be granted a license.
I do know IC Markets after hours support are based in europe, otherwise it will be difficult to provide 24/5 support hours.
There is no reason to indicate that these brokers will behave differently if you signed up to their offshore office. If they do, they will find that they will start losing customers.
These ASIC brokers have grown big following ASIC rules, no reason why they can't continue to be big and profitable when they move offshore, probably more so since offshore entities do not restrict sign up from different countries.
Of course only time will tell.
  • #45
  • Apr 21, 2020 2:28pm Apr 21, 2020 2:28pm
Hi, what is the max open trade limit for icmarket on $1000. In other words what is the maximum lot position I can open on $1000 account 1:500 leverage ( icmarket ). And how to calculate that mac position using .......margin formula (margin = currrencyUnits/leverage * Currentprice) ....... and margin level formula ( marginLevel = equity/margin * 100 ) ....... can I open 5 -10 lot position in $1000 account .... please reply reason with calculation of margin level limit. Thank you.
  • #46
  • Apr 22, 2020 1:48am Apr 22, 2020 1:48am
ICMarkets and FPMarkets are brokers under ASIC license. Features provided nearly the same. In general, I think each one has its strengths and weaknesses, need to explore
  • #47
  • Apr 26, 2020 2:21am Apr 26, 2020 2:21am
hi i am from Singapore. I've been trying to find out if both FP markets and IC markets are regulated by local authority (Monetary authority singapore),
appreciate if any of you able to help me with that.
  • #48
  • Apr 26, 2020 9:32am Apr 26, 2020 9:32am
I doubt if both the brokers are regulated by MAS. Also i think both brokers onboard Singapore clients to their off shore licenses. FP Markets are onboarding clients onto their st.vincent's entity and IC are onboarding to their seychelles.

However, that should not be a concern imo as both FP Markets and ICM have been around for a while and probably have hundreds of traders from singapore.
  • #49
  • Apr 26, 2020 4:21pm Apr 26, 2020 4:21pm
I trade with IC Markets, and running a robot made by me on exness... both works perfectly fine
  • #50
  • May 3, 2020 6:06pm May 3, 2020 6:06pm
Let me know how you have got on with FP Markets. Have you had any problems with them?
  • #51
  • May 5, 2020 1:28pm May 5, 2020 1:28pm
I placed the order marked with red (USDDKK) and 347 pips was the outcome but my broker IC Markets credited the account with $5.13.
Is that right?
I expected a $34 plus
Sell trade at 6.84037 and the TP at 6.80563

I sent emails to them on 3 occasions but they refused to reply the emails and i even had a chat with their representatives on live chat today, yet no email from them.

Your comments are welcome
Attached Image (click to enlarge)
Click to Enlarge Name: ICM.png Size: 27 KB
  • #52
  • May 6, 2020 4:57am May 6, 2020 4:57am
quote=SlideLow;12833722]IC Live Account, Seeing an 80pip fixed spread on Gold. This was at 20 for most of the day. {image}/quote

What time did you take that screenshot on? Liquidity is low on market close hours. During 00:00-04:00 IC Markets time liquidity is low so spread is high. This doesn't apply only to ICMarket but forex brokers as a whole. I've seen 130 points spread on GBPAUD in ECN account during low 04:00 time hour times. This is normal. Nearing market opens the liquidity will slowly fill in and the spread will close in.
  • #53
  • May 12, 2020 4:44pm May 12, 2020 4:44pm
IC Markets all the way.
  • #54
  • May 14, 2020 8:17am May 14, 2020 8:17am
Hi Guys,

Couldn't get a response to my query earlier.

Can anyone clarify if FP Markets accept clients from India? And if yes, what funding options do they offer for clients from India?
  • #55
  • May 17, 2020 3:00pm May 17, 2020 3:00pm
I trade with IC Markets, but just last friday that told me there will be 10 USD overnight swap for brent & wti.. i think I will put a long position for brent and let it run for a month since brent is not on the bottom. But that plan now is gone.. puff
More WD Less Depo
  • #56
  • May 17, 2020 7:37pm May 17, 2020 7:37pm
Quoting reddevil
Quite a number of australian brokers have setup offshore companies like in seychelles, Vanuatu etc to prepare for ASIC changes to leverage. But their main office is still in Australian, bank account the same. This is different from companies where they actually have an operational office in those countries. Seychelles and Vanuatu do not require you to have operational office in those countries to be granted a license. I do know IC Markets after hours support are based in europe, otherwise it will be difficult to provide 24/5 support hours. There...
Do the Aussie brokers have capital funds protection in case brokers go bust? and do they inform you which entity you are signed up with when you open an account?

Also not sure if this is true but someone mentioned a lot of regulator rules and protections apply to citizens of that country only. So in the case ASIC, stringent account protections are for Australian nationals only, maybe someone can shed some light on this.
  • #57
  • May 23, 2020 12:47pm May 23, 2020 12:47pm
Quoting Imran.Khalid
Which out of the two brokers have the better execution speeds? I'm a scalper and use EAs for kind of high frequency trading. So would want a broker that had the fastest and most reliable Execution ?
A late reply here, but for the record as provided by Daivid40 on page 2:

https://offbeatforex.com/best-forex-...ecution-speed/
  • #58
  • May 25, 2020 2:51am May 25, 2020 2:51am
Quoting reddevil
Quite a number of australian brokers have setup offshore companies like in seychelles, Vanuatu etc to prepare for ASIC changes to leverage. But their main office is still in Australian, bank account the same. This is different from companies where they actually have an operational office in those countries. Seychelles and Vanuatu do not require you to have operational office in those countries to be granted a license. I do know IC Markets after hours support are based in europe, otherwise it will be difficult...
No difference in service at all, as far as I can tell...
  • #59
  • May 25, 2020 7:37am May 25, 2020 7:37am
In many brokers I usually care about lower spreads, the lower the better, like ICMarkets and FPMarkets. They all have FIX API
  • #60
  • May 26, 2020 2:09am May 26, 2020 2:09am
I'm looking for a new broker, Based on reviews i have shortlisted both FP Markets and ICM, from my understanding i feel FP Marekts have more advantages than ICM?

Though IC Markets spreads are some what similar to FP Markets, the commission per lot is lower in FP Markets when compared to ICM, Plus based on reviews from other traders seems ICM customer service is difficult to deal with, where as FP Markets staffs are much more reliable and respond quicker. Would like to know experience from other traders with FP Markets before finalizing them.
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