I have been shopping about for a reliable currency trading broker for the past three years. Several months back I found a few Australian forex brokers that were offering very tight spreads. The fx broker that stood out one of the most was a firm named IC Markets.
As I had not heard about IC Markets I made a decision to look into what this company was all about. I was happy to find that they are a True ECN forex broker which of course is a significant advantage for frequent fx traders and those utilizing automatic robot methods. They've also been around since 2007 making them among the oldest fx brokers in Australia. for me this is a really good sign since it shows that they've been able to stand the test of time.
I executed several latency checks on their trading platform and discovered that their execution speeds were less than 100 milliseconds. This is extremely quick in anyone's language though you need to remember that this will depend on where in the world you're located.
IC Markets bank with Westpac Banking Corporation and ANZ Bank, both are AA rated banking institutions in Australia and are at the forefront relating to compliance with risk management protocols making them two of the most secure finance institutions in the world.
I funded my live trading account with $200 and that is remarkable for a true ECN trading account. Most True ECN fx brokers call for a minimum starting amount of not less than $1,000. Their prices are magnificent they get down to zero pips though the EUR/USD often has a spread of 0.1 pips. They set my trading account up on 400:1 leverage and even let me trade micro lots which are equivalent to 0.1 lots or 1,000 units. This really suits me as I am rather new to fx and need to trade with smaller lot sizes. I forgot to say that IC markets commission rates are only $3.5 per lot which is the lowest priced that I've ever seen for a Metatrader 4 True ECN.
I am truly convinced that I've found the best ECN forex provider for my forex trading robot and my discretionary trading. The razor sharp spreads combined with extremely low latency deal execution speeds make IC Markets my number one choice for Metatrader 4 fx trading.
IC markets one-click dealing module is also the best Metatrader 4 add-on that I have ever seen, the one-clicker helps me to scalp the market much more effectively and I can see the spread on the currency pair right in front of me on the screen. The also have a few dedicated newsfeeds on the platform that helps me when I trade the news, though this isn't something that I've perfected yet. There are more deal types on IC Markets Metatrader 4 trading platform than on any other brokers platform in the world, this makes a big difference to me as I prefer to use OCO orders which Metatrader doesn't offer in its standard form.
Since writing this appraisal I have actually discovered that IC Markets is in fact also the biggest fx broker in Australia and is really the only broker in Australia to have a True ECN offering, sadly most of the other so called ECN fx brokers are really just market makers. As always I in no way support any single forex broker that is why I urge you to try several different brokers to see which one suits you best. Just take care when searching for an ECN fx broker as most are not True ECN brokers merely market makers in disguise.
As I had not heard about IC Markets I made a decision to look into what this company was all about. I was happy to find that they are a True ECN forex broker which of course is a significant advantage for frequent fx traders and those utilizing automatic robot methods. They've also been around since 2007 making them among the oldest fx brokers in Australia. for me this is a really good sign since it shows that they've been able to stand the test of time.
I executed several latency checks on their trading platform and discovered that their execution speeds were less than 100 milliseconds. This is extremely quick in anyone's language though you need to remember that this will depend on where in the world you're located.
IC Markets bank with Westpac Banking Corporation and ANZ Bank, both are AA rated banking institutions in Australia and are at the forefront relating to compliance with risk management protocols making them two of the most secure finance institutions in the world.
I funded my live trading account with $200 and that is remarkable for a true ECN trading account. Most True ECN fx brokers call for a minimum starting amount of not less than $1,000. Their prices are magnificent they get down to zero pips though the EUR/USD often has a spread of 0.1 pips. They set my trading account up on 400:1 leverage and even let me trade micro lots which are equivalent to 0.1 lots or 1,000 units. This really suits me as I am rather new to fx and need to trade with smaller lot sizes. I forgot to say that IC markets commission rates are only $3.5 per lot which is the lowest priced that I've ever seen for a Metatrader 4 True ECN.
I am truly convinced that I've found the best ECN forex provider for my forex trading robot and my discretionary trading. The razor sharp spreads combined with extremely low latency deal execution speeds make IC Markets my number one choice for Metatrader 4 fx trading.
IC markets one-click dealing module is also the best Metatrader 4 add-on that I have ever seen, the one-clicker helps me to scalp the market much more effectively and I can see the spread on the currency pair right in front of me on the screen. The also have a few dedicated newsfeeds on the platform that helps me when I trade the news, though this isn't something that I've perfected yet. There are more deal types on IC Markets Metatrader 4 trading platform than on any other brokers platform in the world, this makes a big difference to me as I prefer to use OCO orders which Metatrader doesn't offer in its standard form.
Since writing this appraisal I have actually discovered that IC Markets is in fact also the biggest fx broker in Australia and is really the only broker in Australia to have a True ECN offering, sadly most of the other so called ECN fx brokers are really just market makers. As always I in no way support any single forex broker that is why I urge you to try several different brokers to see which one suits you best. Just take care when searching for an ECN fx broker as most are not True ECN brokers merely market makers in disguise.
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