IC Markets

And what type of account is that from?
They have various types off accounts, if that a line from the standard account which is the market maker account, that line makes perfect sense.

I'm looking at both their latest Product Disclosure Statement and Financial Services Guide; acting as a counterparty to traders is not listed as one of their sources of remuneration (Section 11; Remuneration; FSG), and they explicitly say that they hedge one for one all client positions (Section 3.4; Key Risks of CFDs; PDS), so there is no conflict of interest in so far as they act as a counterparty which is the real danger you want to avoid: ICM winning when you lose.

Under Section 14 of their Financial Services Guide: "Neither IC Markets nor its representatives have any relationships or associations which might reasonably be expected to be capable of influencing the way we provide our services to you."

Product Disclosure Statement:http://icmarkets.com/wp-content/uplo...ts-CFD-PDS.pdf

Financial Services Guide:http://icmarkets.com/wp-content/uplo...-25.09.091.pdf

Just visited MaxFX and its web site looks surprisingly similar to ICMarkets.

So, who is copy, who is paste? Or, both use someones white label?
But who is original? I guess not any of them.

whatever they do or don't do, doesn't change the fact that your order goes nowhere near the interbank as they are counterparty and providing liquidity. That is not true ecn. This undermines all other claims they make regarding conflict of interest.

As for their claims, all the bucketshops say that they hedge their risk and have no conflict of interest but its a lie. The business model of a market maker is to make profit from client losses. As most clients lose due to their own failings, its a lucrative business. They just need to keep attracting new the customers to replace the busted accounts. One may discount spreads while another offers free money bonuses to trade with. Its the same marketing BS that all companies use when describing their product or service. Welcome to capitalism

If you've got less than $50k you have to accept these terms and trade accordingly. Anyone who is gullible enough to believe their micro lot trade goes straight through to the interbank, which cost more for them to process than its worth, has not done their homework regarding this market.

Very interesting post M.A.C.
Could you please elaborate a bit more on what you mean by " If you've got less than $50k you have to accept these terms and trade accordingly..."? Do you mean that only trading bigger lots (mini or full lots) you get to go thru the actual interbank network? I read somewhere that if the broker offers micro lots, they are not actually ECN. But all the brokers I've seen, offer micro lots and yet state they are truly ECNs.

I guess micro lots is not passed to liquidity providers.
I guess micro lot is passed to broker side.
nowadays almost retail brokers are decorating account type by various means.
ecn type,fixed spread,floating spread,commission zero ecn account,,,,
commission zero ecn account is fake. they will mark up spread.

true, I think cabinet provider for both companies are same....there is lots of confusion about IC market some body needs to explain all this before good money in invested in this company.

Interesting Discussion. I have a question. Disregarding stop hunting for a minute. If IC had 150 traders, 50 go long 50 go short, on the same pair and 50 don't trade, how and who does IC trade against? Or another time the same 150 traders; 75 go long 25 go short and 50 stay home, again how and who does IC trade against?

On the other hand, IC and or any other legit brokers have access to company's A another company B so it doesn't matter what our 150 brokers who trade do as long as they trade, but in the end trades even out the longs and shorts; IC picks up the commission and spread, as do companies A & B who do the same thing.

The thing that some traders forget is no matter how you break it down, by brokers and or liquidity providers the minute you enter any trade somebody from somewhere takes the other end; no?

lets do a wild guess
your 150 traders in the example.
since you didn't address it, I think you assume they all trade the same way, and the same size.
but what if they aren't trade all 1 lots, some trade 1 micro lot, some one mini lot, some 10 lot...will the broker send out all orders, some order, or no orders, and if some which one you think the broker is less willing to take the other side of?
now assume, for the benefits of doubt, that in this high tech age, the broker is able to see very easy how their traders doing, in term of profitability...
will the broker be more willing to take the other side of trades where the trader has a track record of losing, maybe even multiple accounts, or those traders where the trader has a track record of consistent gains?
what if the broker able to combine all this data in their software, group up traders by their profile history and assign a risk factor to each group, and decide upon that data which groups trades to take the other side, which to send to market?
but it is a wild guess only. of course all brokers that state they are TRUE ECN, it doesn't apply there surely. or does it?

Would like to see if IC market can comment on this as soon as possible. why Maxfx has same looks as IC markets?

What I mean is, there is no such thing as a retail trading account that has direct access to the interbank market. It is an institutional market. Retail traders need a middle man to provide liquidity. I don't know exactly how I.C works, I would love to go behind closed doors and find out the truth but thats never going to happen. What I do know is we are not direct participants of the interbank market and my experience with this broker is the same old story as with any other broker, that is they are providing the liquidity for trading which is done on their terms and prices

[quote=profitfarmer;8401799]lets do a wild guess your 150 traders in the example. since you didn't address it, I think you assume they all trade the same way, and the same size.

You miss this part of my post?

I guess we could spend all our time assuming ifs and what evers, I'm pretty sure no matter how, or whether or not the broker or whoever; someone is taking the other side of your trade. The only way to plan for it, is assume they're all liars, until you have positive proof they're not. (that's what I do anyway).

I've only been trading full time for about 3+ years, but another thing I found out is some traders blame: other traders, brokers and banks for their losses when most of the time it's due to their own mistakes, one being lack of preparation and planning. Any how like I said, very interesting discussion and just adding my 2 cents. Maybe someone who was an institutional trader and has now joined us in the world of retail, can chime in.

I am happy with this broker so far.no problem at with support,feeds,withdraw,deposit, they should continue good business like this.

Since quite a few years retail traders have become major participant in the forex industry. I agree there are many retail broker those who claim to run a True ECN model are actually a market maker brokers. 95% percent retail traders lose money in long run so by acting as a counter party they bet their money against those traders. It is kinda like running a Casino

True ECN brokers are connected with a pool of liquidity providers where small and large accounts both get their order filled directly from the spot fx market. They earn money on commission fee regardless of traders loss or profit. Retail traders are a major source to provide market liquidity. Hedge funds, Prop Firms, Interbank Traders all take advantage from our Stop Loss and Margin Calls.

IC Markets and quite a few other reputed forex brokers use almost similar pool of liquidity providers where trading orders are directly sent to the market.

I really "kindly" ask ibs and independent traders here to check my convo with a ic markets rep below and advice me on what to do:

Welcome to IC Markets LiveChat
Sylvia (Client Support)
Sylvia (Client Support)Hello Salvador D. Englund. How may I help you?
Salvador D. Englund hi do i have to join ic markets with an introducing broker i met on forums?
Sylvia (Client Support)Hi, yes, you can request it.
Salvador D. Englund super. is there a difference between joining through them or joining ic markets directly?
Sylvia (Client Support)if you have an IB, he will receive commission from your trades.
Salvador D. Englund oh, i thought they were your workers. i guess being your direct customer is better then?
Sylvia (Client Support)they are our workers, you can read here: http://www.icmarketsrtnerships/intro...er/Introducing Broker | Partnership | IC MarketsIC Markets Introducing Broker (IB) program is designed to remunerate introducers with no limits on the number of referred accounts or trading volumes. A low barrier to entry combined with a highly competitive volume based rebate structure makes IC Markets ideal for introducers of all of all size.
your trades will not be affected by having an IB
Salvador D. Englund okay. would you say its better to be a direct than bring with ib?
Sylvia (Client Support)it's the same for you.
Salvador D. Englund but if they quit from ic markets, what happens to my trades?
Sylvia (Client Support)Your trades will not be affected, you will open them, right?
Salvador D. Englund what do you mean?
I was thinking of joining with one of the ib and then she or he leaves ic markets, then would my account be affected?
Sylvia (Client Support)Your account will not be affected at all.
Salvador D. Englund i think having an ib makes no difference for me, right?
Sylvia (Client Support)No difference
Salvador D. Englund well then i will be your direct customer
its better and there is no middle man
and joining through ib has no benefit for me
Sylvia (Client Support)It is your decision.
Salvador D. Englund why do they speak like its cheaper to trade with them?
Sylvia (Client Support)just a second
It depends on the IB
Salvador D. Englund i don't understand
2:29 pm Sylvia (Client Support)moment
Salvador D. Englund right so they offer $1,50 discount from commission on the net
if there is no difference joining to ic markets then why are they promising that?
Sylvia (Client Support)I meant that you won't lose for sure
This is a good discount
Salvador D. Englund but before you said that there was no extra benefit to me to join with an ib
im confused now
Sylvia (Client Support)I apologize, yes, there is benefit, it can be $1, or $1,50 reduction on commission, depends on the IB
Salvador D. Englund so i should join with an ib to get a commission discount then?
Sylvia (Client Support)Are you in any connection with a particular IB?
Salvador D. Englund nope
im really new to this field
just been reading forums and such
Sylvia (Client Support)you can also get reduction on commission, if you reach 100 lots per month
Salvador D. Englund oh
thats nice
i think i can do that
but im confused about the ib thing
should i join with them or no?
Sylvia (Client Support)We can't give direct advice, maybe I can provide you an email, our Partners, they can provide further information
Salvador D. Englund why is this issue so complicated that you can't advice me over here?
Sylvia (Client Support)We don't give direct trade or IB choosing advise
Salvador D. Englund i would not want to be discriminated based on whether i come with an ib or not (like i would not want my trades/account to be put into a different group which may affect my profitability)
so you can let me know which way would be the sure way to be clean/clear
Sylvia (Client Support)If you join with an IB, you can save money on commission, and your profitability will not be affected.
Salvador D. Englund okay. then you would advice me to join with an ib
Sylvia (Client Support)we don't offer names or information on choosing an IB, however, you can email Partners for further information.
Salvador D. Englund yes but then in general you would advice me to join with an ib? cause there are many of them in forums
Sylvia (Client Support)Yes, I would advice, we have a successful IB program.
You won't lose money by choosing an IB.
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this happened just now, so....
1. they are not even supporting their ibs as far as i see so why should i use an ib?
2. if i join with an ib, do you think ic markets will put me in a different group (that make my trades less profitable)?
3. after experiencing this, i found the whole thing to be really suspicious.
4. would you use an ib or be direct customer to them?

* Say whatever you like, I'm not an ib, affiliate, competitor etc. I really just wanted to find out the best way to join.

my experience:
my friend, who is a direct customer to ICM, seem to have less slippage issues than me, who signed up with an IB.
is the discount on spread compensate for it? maybe even in end.

@proftfarmer, thank you, this is interesting! do you mean your friend is a direct customer to icm and he has less slippage than you are (whom signed up for an IB)?
If so, did you guys calculate it to see who the winner/loser is?

yes, I mean that. he has less slippage.
part might come from location. or might not.
I didn't bother to go trade by trade to see, but it seem to come out about the same. I don't have advantage in the end from the lower spread.

@profitfarmer, thank you! That helps a lot. It looks like there is no difference.

Anyone else get this Spike ?

I some times get stuff like this happen.

I got out just before but could have been the other way around.

Please let me know

Rooi