Thursday, 13 October 2011

Australian Forex Broker IC Markets Takes On The World

By Terry Frauher


A short time ago I was introduced to a forex provider named IC Markets by a friend of mine who operates a booming Sydney based hedge fund. As I'm an experienced trader I thought that I'd spend some time conducting my homework on the company before I open an account so I though that I would visit their offices in Sydney to find out more, I was tremendously impressed with what I saw.

During my visit to the IC markets office I rapidly discovered that IC Markets is not just a web-based forex and CFD broker but they also have stockbroking, financial planning and corporate advisory divisions which span in excess of 2 floors of a prestigious Sydney CBD address. I sat down in their boardroom which was ornamented with artwork and overlooking the Sydney harbour bridge to meet with their Head of Trading and discuss IC markets forex offering. He explained to me that they've got agreements with greater than 35 global investment banks who supply IC markets with their forex prices and that this is the reason that they're able to offer Australia's and quite probably the world's first true Metatrader 4 ECN offering.

The Head of Trading introduced me to their Chief Operations Officer who showed me firsthand their proprietary ECN software, and how it produces a virtual market enabling traders to add their own liquidity to what is already being offered by the investment banks that IC Markets has agreements with. I was amazed to see spreads that were inverted and displayed volumes of more than 100 standard lots on the bid and offer at any given time. I was instantly satisfied that trading in a real ECN market place was the only way to go for any forex trader.

Subsequent to spending more than an hour in the boardroom with the Chief Operations Officer he invited me to sit on the trading desk to observe order flow build up inside the ECN market place just ahead of London open. I went over to the trading desk and sat back with the Chief Operations Officer and watched the huge quantity of volume pour in from traders globally and the biggest investment banks world wide, it was an amazing sight watching deals trade with one another at a speed of one hundred every second. This was something that as a forex trader I had never been privy to when sitting behind my trading displays at home in my Brisbane office.

Following the hospitality that the IC Markets staff showed me I was confident that not only dealing in an ECN market place was the only way to trade but also that IC Markets ECN technology was ground breaking and quite possibly a world first for any Metatrader 4 provider.

It has been five months since opening my IC Markets forex trading account and I have never looked back, the ECN spreads are unbelievable and more importantly the execution is the best that I have ever experienced. The IC Markets forex package is certainly the best offered by any forex broker in Australia. I recommend that if you are searching for an ECN forex broker you give IC Markets a go as I'm sure that if you're a professional trader like me you won't ever look back.




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