I have been trying to find an Australian founded company with tight spreads for a while now and only just recently I came across a forex provider called IC Markets. After doing a little research into this forex provider I discovered that they\’re a true ECN forex broker headquartered in Sydney. I also found that they have a local Metatrader 4 server which is a bonus. I made a decision to test IC markets out to see just how good their spreads actually are, I was so impressed that I thought that I would write an evaluation regarding them to share my findings with any other forex traders searching for an ECN forex provider in Australia.

I opened my forex trading account with IC Markets five months ago so I\’ve had lots of time to test them thoroughly and share my discovery. On the list of the main things that you will notice about IC Markets are the ECN spreads that they quote. It is a refreshing sight to see EUR/USD spreads at 0.2 pips and at times even Zero pips, but I guess that is what you receive when you\’re trading with an ECN forex provider as opposed to a market maker.

As well as extremely low spreads I found that IC Markets Metatrader platform was very reliable. With the majority of other Metatrader fx brokers that I have traded with I\’ve experienced outages, however over the last 5 months I haven\’t had one down time with IC Markets. Although I am guessing, I believe that their solid reliability is because they are an ECN so they need to make sure that like a share exchange the ECN system doesn\’t crash and effect all of the ECN price contributors.

IC Markets Metatrader 4 platform is quite dissimilar to all other fx brokers Metatrader platforms since it has an awesome one click one forex trading feature that makes scalping a good deal simpler and quicker. I\’m not a huge fan of the old Metatrader deal tickets as placing orders takes too long, this is the reason I love the one click forex trading functionality on IC Markets Metatrader trading platform. Their platform even has a couple of other awesome functions like fx trading off the graphs and allot more contingent order types than the traditional Metatrader 4 platform.

Needless to say it\’s all well and good to show great pricing on your Metatrader 4 platform, however it is useless if you can not trade on this pricing. There are several brokers in existence that I know about which quote ECN like spreads but delay your order execution and slip you on your trade fills, they are dirty tactics that market maker fx brokers use, a true ECN forex broker would never play these types of games. I have never had any execution problems with IC Markets, deals are executed in less than half a second without slippage. I have also tried dealing up to 13 standard lots on my account and the deal was filled instantaneously. IC Markets order execution is by far the very best that I have ever experienced.

After five months of investing forex with IC Markets I can confidently say that IC Markets are one of the top fx brokers in Australia, if not the very best broker. I was impressed by their prices and quality of execution and the little extras on their version of Metatrader 4 were enough to make me shut all of my other forex broker accounts, IC Markets has become my primary broker, no other company in Australia comes close. I would be happy to recommend IC Markets to anyone that is serious regarding their forex trading.

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Tags: Currency Trading, Foreign Exchange Trading, Forex, forex trading

This entry was posted on Tuesday, February 21st, 2012 at 9:01 pm and is filed under Currency Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.