I have been searching for an Australian founded company with tight spreads for a while now and only just lately I came upon a forex broker called IC Markets. After doing a little research into this company I found that they're a real ECN broker based in Sydney. I also discovered that they have a local Metatrader 4 server which is a bonus. I decided to check them out to find out just how superior their spreads actually are, I was so impressed that I thought that I would write a review about them to share my discovery with any other fx traders in search of an ECN forex broker in Australia.
I opened my forex trading account with IC Markets five months ago so I have had a good amount of time to test them thoroughly and share my findings. One of the major things that you'll 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.
In addition to extremely low spreads I found that IC Markets Metatrader platform was extremely reliable. With the majority of other Metatrader forex brokers that I've traded with I have experienced outages, however over the past 5 months I haven't had one down time with IC Markets. Although I am guessing, I think that their solid reliability is because they're an ECN so they have to make sure that like a stock exchange the ECN system does not stop working and effect the many ECN participants.
IC Markets Metatrader 4 platform is quite dissimilar to all other brokers Metatrader platforms since it has a terrific one click one forex trading feature that makes scalping a great deal simpler and quicker. I am not a big fan of the old Metatrader trade tickets as placing orders takes too long, this is why I love the one click forex trading functionality on IC Markets Metatrader trading platform. Their platform even has a couple of other awesome features such as dealing off the charts and allot more contingent trade types than the conventional Metatrader 4 platform.
Naturally it's all well and good to show great pricing on your Metatrader 4 platform, however it is useless if you cannot trade on this pricing. There are a few fx brokers out there that I know about which quote ECN like prices but delay your order execution and slip you on your fills, these are filthy techniques that market maker forex brokers use, a real ECN forex broker would never play these kinds of games. I have never had any execution issues with IC Markets, deals are filled in less than half a second with no slippage. I have also tried trading up to 13 standard lots on my trading account and the deal was executed instantly. IC Markets order execution is by far one of the best that I have ever experienced.
After five months of dealing forex with IC Markets I can confidently say that IC Markets are on the list of the best forex brokers in Australia, if not the 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 my other forex broker trading accounts, IC Markets has become my main forex provider, no other broker in Australia comes close. I would be happy to recommend IC Markets to anybody that's serious regarding their forex trading.
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