Here are some of the features of the ICE FX MT4 mobile app:
- Live market quotes of all the tradable assets.
- Real-time Charts can be viewed on different timeframes.
- Access to tools for technical analysis.
- Advanced dealing options using risk management strategies such as SL, TP, etc
- Account management features including multiple accounts and history.
“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.”
ICE FX provides the Multi-Account Manager (MAM) and Percentage Allocation Management Module (PAMM) accounts. These are accounts managed on behalf of investors by expert managers. Investment accounts can be opened with funds as low as $100. Investors can allocate funds to managers of choice. A minimum of $10 can be allocated to as many managers. ICE FX system is completely transparent as investors can see all trading details. The equity of managed accounts is updated every five minutes. A manager cannot hide any trading method used, equity or falsify trading results. The managers are provided with cutting edge tools to maximize profits and manage risks. There is a rating system for managers. These ratings done by investors distinguish expert fund managers from rookies. Investors can easily focus on professionals while the expert managers make more money from commissions.
ICE FX has its own forum. This is an interactive platform where clients, managers, traders, investors and ICE FX staff share information and ideas. Only registered ICE FX clients gain full access to post articles, comments and questions on the forum. Guests can only read the articles and comments but cannot post comment. The forum is active but there are not many posts and articles.
Virtual Private Server (VPS) is a remote computer which ensures smooth running of the trading systems, EAs, etc. ICE FX provides the VPS free of charge to traders with account balances of more than $10,000. There are up to 4 servers with different configurations and the charges vary according to server specifications and trader capital. However, the price ranges from $10 to $89 per month.
Risk Management System: ICE FX developed an automatic risk management system to help traders limit their losses. It is recommended for traders to enable this feature when they are calm. The parameters that can be set are:
- Maximum loss per week.
- Maximum loss per day
- Maximum drawdown.
- Minimum balance.
- Maximum leverage.
When the risk management parameters are set and the functionality is enabled in trading accounts, the server closes the open trades once each of the set parameters are reached.
Commissions & Spreads
“ICE FX charge for its services from the spread and also from commissions. The typical spread for the benchmark EUR/USD are 0.8 pips”
Fees charged by ICE FX depend on the account type and the asset traded.
Below are some of the minimum spreads on selected popular tradable assets.
*The above list was taken from http://www.ice-fx.com/ and is correct at the time of writing. The list is subject to change without prior notice.
Bonus & 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.”
Genesis and Genesis Prime Contests: These are traders’ contests designed to discover effective fund managers. The competition consists of 4 rounds of 13 weeks each. ICE FX funds the accounts and lets the contending managers, who applied for the contest, manage the accounts and make profits. At the end of each round, contestants receive awards according to their performance. At the end of the competition (after one year), the winner of the Genesis contest receives $50,000 in MA1 account while Genesis Prime winner receives $100,000 in MA1 account. These are company funds which will be invested for the winners to manage and receive bonuses and commissions.
Fast and Furious: This is a promo for ICE FX partners who refer new traders to the brokerage firm. Within a promo period of 13 weeks, any partner who attracts $50,000 or more worth of deposits, will receive the maximum referral income. He will be automatically upgraded to the status of a “PRO partner.” PRO partners receive increased referral bonuses; get preferential treatment and better partnership conditions.
Compensation of Commission: ICE FX compensates traders for bank charges incurred while transacting with the broker. For example, card deposits for Visa and MasterCard is charged at 5% but ICE FX pays 2% compensation leaving the client to 3% of the transaction amount as deposit charges. Also WebMoney charges at total of 4.3%, but ICE FX pays 2.5% while the client only pays 1.8% of the transaction amount as deposit charges.
“The customer support desk is available 24/5 on phone, email, web cha and Skype. The support assistants are knowledgeable and courteous.”
The customer support desk is available 24 hours Mon-Fri and Sat/Sun from 9:00 to 0:00 EET. The support team is multilingual, efficient and professional. The following support channels are available:
- Instant Web Chat: The chat support assistants are always alert to initiate a chat in case the website visitor will need assistance.
- Email:support@ICE FX.com. There are several other email addresses for the different departments.
- Phone Support: +7 499 348 97 89. Russian toll free line is 8 804 333 7845.
- Call Back: Drop your phone number and the support team will call back.
- Skype: support@ICE FX.com
Emails are replied within a day. The support assistants are smart, knowledgeable and courteous. When a chat was initiated, it took about 45 seconds to get a response in Russian. But, in less than 2 minutes, an English speaking support representative took over the chat.