ICE FX Review 2019 | Is ICE FX a Scam or Legit Forex Broker?

Read our ICE FX review to find out if ICE FX is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.3/ 5

Rating breakdown

Protection & Regulations
40% Complete (danger)
2.0/5
Trading platforms
80% Complete (danger)
4.0/5
Tradable Products
100% Complete (danger)
5.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
60% Complete (danger)
3.0/5
ICE FX
ICE FX Overview

ICE FX is an online Forex and CFD broker located in Malaysia and established in 2015. The broker offers Forex, metals, commodities, indices and cryptocurrencies for trading.

# Broker's Features ICE FX Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review ICE FX.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. ICE FX offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Crypto.

Tradable Products: ICE FX offers about 62 currency pairs, 3 commodities, 15 cryptocurrencies, 11 indices and 4 spot metals for trading on its platforms.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. ICE FX is STP, ECN.

Features: ICE FX provides MAM and PAMM managed accounts. The brand has its own forum where ideas are exchanged. It also provides VPS services and a risk management system for its clients.

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. ICE FX recommended minimum capital is $50.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. ICE FX is regulated by LFSA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor Protection & Regulations: ICE FX is regulated by the LFSA in Malaysia. Investors are protected through KYC verification processes, account segregation and industry- standard security practices.

Languages Available: Next lets have a look at each broker's different Language options. ICE FX offers English, Russian, Portuguese, French.

Payment methods: Next lets have a look at each broker's payment options. ICE FX offers Credit Card, PayPal, QIWI, Skrill, Webmoney, Wire Transfer different payment methods for each account types.

Deposit and withdrawal: Credit/debit cards, Bank Wire Transfer, ePayments, Skrill, Neteller and WebMoney are the acceptable payment options. There are charges for both credit card and ewallet deposits. Bank transfer payments are free for deposit and withdrawals

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, ICE FX makes MetaTrader 4 available to clients.

Web & Desktop Trading Platforms: The MT4 trading platform is the only trading platform provided by ICE FX broker.
Mobile Trading Platforms: The MT4 is available as a mobile app for the iOS and android devices. The app has features that allow the trader to monitor the markets, place order and perform some analysis.

Other

Trader Education
ICE FX does not provide any training for its clients.

Promotions
ICE FX organizes the “Genesis”, “Genesis prime” as well as “Fast and furious” contests. The broker also pays part of the charges incurred by clients while depositing and withdrawing funds from their broker trading accounts.

Support
The customer support desk is available 24/5 on phone, email, web cha and Skype. The support assistants are knowledgeable and courteous.

Recup
ICE FX is a forex and CFD broker that operates from Malaysia. The broker is regulated by the LFSA and they abide by the regulatory stipulations. Over 90 tradable assets are available for trading on the MT4 platform provided. Managed accounts are heavily promoted by this broker as it is constantly looking for managers who will be successful in trading with investors’ deposits. Investors who will deposit into managed accounts are also needed.

Final Thoughts
IceFX claims to be an A-Book broker is a forex and CFD broker that supports the MT4 platform. Its main disadvantage is the lack of proper regulation, otherwise its offerings seem good.

Trading Experience
ICE FX brokerage services are best for expert traders who are fund managers. It is also good for investors and independent traders who already know how to trade and make profits.

People Also Asked

Is ICE FX regulated?
Yes, ICE FX is regulated by top-tier regulators, LFSA inclusive.
Where is ICE FX based?
ICE FX is based in Malaysia
How does ICE FX make money?
ICE FX charges a spread between the bid price and ask price. In some instances it also charges a commission.
How do I deposit in ICE FX account?
With ICE FX you can deposit money via the following means; Credit Card, PayPal, QIWI, Skrill, Webmoney, Wire Transfer.
How do I withdrawal in ICE FX account?
ICE FX lets you request a withdrawal of funds from your account via the following means; Credit Card, PayPal, QIWI, Skrill, Webmoney, Wire Transfer.
What is the minimum deposit for ICE FX?
ICE FX has $50 minimum deposit.
What are the available account base currencies with ICE FX?
ICE FX trading accounts are offered in N/A. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in ICE FX?
ICE FX has a maximum leverage is 1:50 for professional traders.
How do I open an account with ICE FX?
Opening an account with ICE FX is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does ICE FX use MetaTrader?
ICE FX platforms: Yes, ICE FX use MetaTrader as well as the following platforms: MetaTrader 4
What type of broker is ICE FX?
ICE FX appears to be a STP, ECN broker which offers market access to a variety of traders.
Does ICE FX accept US clients?
No
Does ICE FX offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with ICE FX: You can trade a wide variety of instruments with ICE FX: Currencies, Commodities, Indices, Crypto