Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
ICE Markets Pros & Cons
- Fast order execution powered by modern infrastructure
- Broad market access, including traditional and digital assets
- Multiple account types catering to beginners and experienced traders
- Managed account services for passive income opportunities
- Several affiliate programs for partner earnings
- Support for multiple deposit and withdrawal methods, including cryptocurrencies
- Regular promotional campaigns and trading bonuses
- Malaysian regulation offers less stringent fund protection compared to top-tier jurisdictions
- Educational resources and market research tools are limited, especially for new traders
ICE Markets is a foreign exchange and CFD broker established in 2015, formerly known as Ice Fx until its rebranding in 2022. The company is licensed in Malaysia under registration number MB/15/0007. It offers access to multiple asset classes, including currencies, cryptocurrencies, precious metals, and commodities. ICE Markets supports MetaTrader 4 and enables algorithmic trading through Expert Advisors (EAs). In addition to self-directed trading, the broker provides managed investment accounts and a copy trading feature.
TU Expert Verdict
ICE Markets carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
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ICE Markets User Reviews
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5-star
0%
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4-star
33%
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3-star
67%
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2-star
0%
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1-star
0%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria4 /10The trading and non-trading commissions of ICE Markets have been analyzed and rated as having High fees, with a fees score of 4/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- No deposit fee
- Above-average Forex trading fees
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of ICE Markets with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, ICE Markets’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
ICE Markets Standard spreads ICE Markets OANDA FOREX.com EUR/USD min, pips 0.2 0.1 0.7 EUR/USD max, pips 0.6 0.5 1.2 GPB/USD min, pips 0.4 0.1 0.9 GPB/USD max, pips 0.7 0.5 1.4 Does ICE Markets support RAW/ECN accounts?
As we discovered, ICE Markets does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with ICE Markets. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
ICE Markets Non-Trading Fees ICE Markets OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 1-2.5 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 25 0-15 0 Inactivity fee ($, per month) — 0 15 -
Is ICE Markets Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria3.7 /10ICE Markets has a safety score of 3.7/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Is regulated
- Not tier-1 regulated
ICE Markets Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level Abbreviation AOFA Full Name Anjouan Offshore Finance Authority Country of regulation Union of the Comoros (Autonomous Island of Anjouan) Investor Protection Fund No publicly disclosed statutory investor compensation scheme on the site; complaints are handled via the AOFA Compliance Department (email provided). Regulation Level Tier-3 ICE Markets Security Factors Foundation date - Negative balance protection NoVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.4.2 /10ICE Markets offers the following account options: Demo, Standard, VIP, Managed.
However, ICE Markets does not provide a Standard account, which can be a drawback for traders who prefer classic spread-based pricing models.
- Standard account with balanced trading conditions
- Low minimum deposit
- Demo account
- No Cent account
- No ECN/Raw spread account
ICE Markets account types vs top competitors ICE Markets Plus500 OANDA Standard YesYesYesECN/Raw spread NoNoYesDemo YesYesYesCent NoNoNoMicro NoNoYesSwap Free NoNoYesVIP YesNoNoManaged YesNoNoICE Markets accounts trading conditions
ICE Markets accounts are tailored for active traders, fund managers, and investors.
Account Type Description STP A standard trading account with market execution for market orders and partial execution for limit orders. Maximum leverage is 1:300. The minimum deposit is $30. STP-MA Designed for fund managers and investors, this modified STP account integrates PAMM, MAM, and LAMM models. It offers market and partial execution similar to the STP account. The minimum deposit is $300, with leverage up to 1:100. STP-Demo A practice account used in a simulated environment. It is not connected to real funds. Leverage is fixed at 1:100. Market and limit orders are processed under the Instant Execution model. -
Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology5.3 /10ICE Markets received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
ICE Markets provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- No deposit fee
- USDT (Tether) supported
- Bank wire transfers available
- Minimum deposit below industry average
- Limited deposit and withdrawal flexibility, leading to higher costs
- No bank card option
- Wise not supported
What are ICE Markets deposit and withdrawal options?
ICE Markets provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum.
ICE Markets Deposit and Withdrawal Methods vs Competitors ICE Markets Plus500 OANDA Bank Wire YesYesYesBank card NoYesYesPayPal NoYesYesWise NoNoNoBTC YesNoYesWhat are ICE Markets base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. ICE Markets supports the following base account currencies: USD.
What are ICE Markets's minimum deposit and withdrawal amounts?
The minimum deposit on ICE Markets is $30, while the minimum withdrawal amount is $10. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact ICE Markets’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria4.3 /10ICE Markets offers a limited selection of trading assets compared to the market average. The platform supports 94 assets in total, including 44 Forex pairs.
- Copy trading platform
- Crypto trading
- 44 supported currency pairs
- No ETFs
- Bonds not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by ICE Markets with its competitors, making it easier for you to find the perfect fit.
ICE Markets Plus500 OANDA Currency pairs 44 60 68 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 94 2800 129 Stocks NoYesYesCommodity futures YesYesYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesYesStock indices NoYesYesOptions NoYesNoInvestment options
We also explored the trading assets and products ICE Markets offers for beginner traders and investors who prefer not to engage in active trading.
ICE Markets Plus500 OANDA Bonds NoNoYesETFs NoYesNoCopy trading YesNoYesPAMM investing NoNoNoManaged accounts YesNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at ICE Markets by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.8 /10We successfully registered an account with ICE Markets in 20 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at ICE Markets is $30. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Low minimum deposit requirement
- Registration process may take longer than expected
- Account approval may require extra time depending on the documentation.
ICE Markets account opening ICE Markets Plus500 OANDA Online Registration YesYesYesMinimum deposit $30 $100 $0 Mandatory KYC YesYesYesRegistration time (min) 20 10 KYC time (days) 2 3 3 Is ICE Markets available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
To begin trading with ICE Markets, complete the following steps:
Register: Fill out the online registration form with accurate personal details.
Verify: Confirm your identity by uploading the required documents, such as a valid passport and proof of residential address.
Choose an account type: Select the trading account that aligns with your strategy and experience level.
Fund your account: Make a deposit using one of the available payment options supported by the platform.
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Customer Support
Score:We evaluated Customer Support at ICE Markets by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria6.2 /10Customer support at ICE Markets is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. ICE Markets provides basic support functionality but does not stand out in overall service performance.
InformationCustomer service hours vary depending on the department. Live chat is available 24/5 from Monday to Friday, and from 08:00 to 23:00 (EET) on Saturdays and Sundays. Phone support is available daily from 08:00 to 22:00 (EET).
- Live chat on the website
- Access to various communication channels
- Limited access to support on Saturdays and Sundays
- Messengers are not used for customer support
Available communication methods:
- Phone;
- Online chat on the website;
- Email;
- Skype;
- Callback request form.
Contacts Registration address U0064, 3rd Floor, Jalan OKK Awang Besar, 87000 Labuan FT, Malaysia Regulation AOFA Licence number:
L15911/IMOfficial site https://ice-markets.com/ Contacts support@ice-markets.com +44 20 8089 7867
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FAQs
How are trading commissions and non-trading fees structured at ICE Markets?
ICE Markets is assessed as having high overall fees, with a fees score of 4/10, and above-average Forex trading fees. Standard account spreads are floating, with typical ranges such as 0.2–0.6 pips for EUR/USD and 0.4–0.7 pips for GBP/USD, and the broker does not offer RAW/ECN accounts. Non-trading fees include no deposit fee, but withdrawals incur a 1–2.5% charge or about $25, while any inactivity fee is not specified in the review.
What types of trading accounts and conditions are described for ICE Markets?
ICE Markets is reported to offer Demo, Standard, VIP, and Managed accounts, although the text also states that a Standard account is not provided, which is presented as a drawback. The detailed account lineup includes an STP account (market execution, up to 1:300 leverage, $30 minimum deposit), an STP-MA account for fund managers and investors (PAMM/MAM/LAMM models, up to 1:100 leverage, $300 minimum deposit), and an STP-Demo account with simulated trading and fixed 1:100 leverage. Cent, Micro, Swap Free, and ECN/Raw spread accounts are not available according to the section.
What do user reviews and feedback indicate about overall satisfaction with ICE Markets?
The user satisfaction score for ICE Markets is 6.7/10 based on 6 reviews, with 33% of ratings at 4 stars and 67% at 3 stars, and no 5-, 2-, or 1-star reviews reported. According to user reviews, this distribution suggests a generally mixed experience, with users neither overwhelmingly satisfied nor strongly dissatisfied.
What markets and tradable assets are available at ICE Markets according to reviews?
ICE Markets supports 94 tradable assets, including 44 currency pairs, along with access to crypto and commodity futures, but not stocks, stock indices, options, bonds, or ETFs. The section notes that the overall asset selection is limited compared to the market average, though copy trading and managed accounts are available as additional investment options.
What feedback is available about ICE Markets customer support and service hours?
Customer support at ICE Markets is described as functional but not outstanding, with moderate response times and service quality that can vary depending on the complexity of the request. Live chat is available 24/5 on weekdays and from 08:00 to 23:00 (EET) on weekends, while phone support operates daily from 08:00 to 22:00 (EET), and contact options include phone, website chat, email, Skype, and a callback request form. The review also notes limited access to support on Saturdays and Sundays and that messengers are not used for customer service.
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