Welcome, fellow traders...!
So, reading the title I hope you've understood my today's HOT topic which will shed a light on the comparison of two very famous and regulated Forex brokerage companies.
At present, with the help of technology, we can do almost anything sitting in our houses including online trading. Technology has changed our lives for the better. Those days are gone when we used to do it the old fashioned way. Forex trading has paved a roadmap for the online trading industry and brought a new era of online trading.
But before I get started, how about writing interesting facts about Forex trading that most people don't know about?
Here are the deets...
So, that's all from the interesting Forex trading facts section; it's time to start from the basics and let you know about “comparison between FP Markets and IC Markets."
Let's get started!
FP Markets was formed in Sydney, Australia in 2005, and through its 14 years of experience, FP Markets company has succeeded to be one of the Market leaders in providing CFD and Forex. Their vision was to create a one-stop destination where traders could access a full suite of trading products in global markets.
The advantage of being able to trade CFDs across equities, Forex, indices, commodities, futures, and cryptocurrencies from one account is one of the major factors that makes FP Markets one of the MOST loyal and regulated brokers among other brokers of the Foreign exchange market.
FP Markets is currently offering the world’s most popular trading platform MT4.
One of the most technologically advanced trading platforms. The FP Markets MT5 features:
FP Markets offers the IRESS platform, which provides multi-product execution and access to level 2 exchange data as standard. The IRESS platform features:
The all-powerful Metatrader 4 (MT4) & Metatrader 5 (MT5) Platform easily accessible from your browser.
Q1. Can I open a demo account first?
Ans: Yes, of course.
Q2. Can I register with more than one email address?
Ans. It is possible, however, to avoid confusion we advise having all your trading accounts under the same Client Area profile, using the same email address.
Q3. How can I connect my trading account to an affiliate/IB?
Ans. Please send an email to [email protected] from your registered email address, and ensure that you include the IB's referral number in your email.
Q4. What happens if I do not use my trading account, are there any fees for this?
Ans. They will disable your account if there is zero balance and no activity for more than three months. Unlike other brokers, they will not charge an admin fee for this, and we are able to reactivate it anytime you wish to resume your trading. If you wish to reactivate, please send your request from your registered email address to [email protected]
Q5. Which documents are needed in order to open an account?
Ans. They always require proof of identity and proof of residency documents from you. Proof of identity can be a valid passport, driving license, or national ID card. As a proof of residence, they accept a utility bill or bank statement showing your full name and address, and that is dated within the last six months.
Q6. Do FP Markets accept a PO Box address?
Ans. For some particular countries, they might accept one of the following documents as proof of residence document:
IC Markets was consolidated in Sydney, Australia in 2007 by a team of professionals in the financial services industry who were instrumental in the success of one of Australia's largest CFD and Forex providers.
IC Markets goal is to bridge the gap between retail and institutional clients offering a trading solution previously available to Investment banks and high net worth individuals. IC Markets True ECN account was born, providing superior execution technology, lower spreads, and unrivalled liquidity.
Their management team has significant experience in the Forex, CFD, and Equity markets in Asia, Europe, and North America. It is this experience that has enabled them to select the best possible technology solutions and handpick the best liquidity available in the market.
IC Market's mission is to create the best and most transparent trading environment for retail and institutional clients alike allowing traders to focus more on their trading. Built by traders for traders IC Markets is dedicated to offering superior spreads, execution, and service.
IC Markets strives to stand out from the crowd by going the distance to offer what clients really want. This includes True ECN connectivity with direct access to interbank liquidity, tight spreads, fast & quality execution, and exceptional customer service.
It is assuredly the world’s one of the most popular trading platforms of current times for forex traders due to its ease of use. It is also available with a smart environment and automated trading.
The MT5 trading platform of the IC market is also one of the leading platforms among other competitive brokerage companies. It is regarded as both an innovative and smart trading platform.
cTrader is an innovative ECN (Electronic Communication Network) trading platform, designed particularly bearing Forex and metals trading in mind. cTrader platform unites the speed of an ECN trading platform with the multi-bank liquidity of IC Markets True ECN environment, providing clients with an ultimate trading solution. It utilizes proven technology that will enable you to take your trading to the next level.
In addition, ICMarkets also offer mobile and Web-based versions of both the above platforms and also the MT4 Multiterminal, MT4 for Mac and cTrader.
Lower Spreads: IC Market's primary priority is to provide traders with the lowest spreads which are possible during all market circumstances. They are now investing heavily in technological sectors and also establishing a solid association with the largest and most reliable liquidity providers. They are continually attaching additional liquidity to the real True ECN trading environment in order to provide traders with the best possible Forex trading conditions available.
Faster Execution: IC Markets uses enterprise-grade hardware on their trade servers in the NY4 & LD5 data center in New York & London individually in order to provide their clients with flawless trading experience. All trader servers are collocated with ECN engine and liquidity providers in these data centers. They have also dedicated fiber optic cross-connects to ECN and liquidity providers for ensuring the lowest latency and lightning-fast trade execution for IC Markets clients.
Q1. What is ultra-low latency?
Ans: Latency is the delay in the amount of time it takes a data packet (or trade) to travel from source to destination (client to broker). Ultra-low latency trading is ideal for automated and manual trading. The faster the prices are received, the quicker you can enter orders. This will increase your chances of getting the price you are attempting to trade on.
Q2. Does IC Markets accept US clients?
Ans: IC Markets does not accept US clients. US CTFC regulation prevents US clients from trading with brokers outside the US. IC Markets complies with International and Australian regulations.
Q3. What are the fees, commissions for trading with IC Markets?
Ans: IC Markets has two MetaTrader 4 account types, a Standard account, and our market-leading, The Raw Spread account. IC Markets does not charge a commission on Standard accounts but instead applies a spread markup of 1 pip above the Raw inter-bank prices received from our liquidity providers. IC Markets Spread account shows the raw interbank spread received from our liquidity providers. On this account, we commission of $7 per standard lot round turn.
In the end, both FP Markets and IC Markets are HUGELY popular all across the globe. They both have several advantages but it is really up to the forex traders because of their different points of view.
So, which one do you prefer?
And, yes, of course, share any good or bad experience you had in the past with those FOREX BROKERS. Surely, I can help to let you know more DEEP information on both brokers anyway.