IC Markets, a brokerage firm, is entering the prop trading market with a new trading platform.
The new platform, available at ICFunded.com, is now in beta mode to allow clients to familiarize themselves with its features.
"Whether you are an experienced trader looking for funding opportunities or a talented individual looking to break into the trading industry, IC Funded is here to help you on your journey," ICFunded.com states.
According to TradeInformer, the platform has been live for over a week now and has been popular, especially with registered users of the IC Markets broker.
It is worth noting that IC Markets is not the only broker trying to launch a funded trading program. Earlier, Axi, Oanda, Hantec Markets, Raise FX, and YaMarkets started offering these services to their clients.
However, proprietary trading services operate in a regulatory gray area. Most offerings, including ICFunded.com, provide demo accounts intended for training and strategy development. These accounts are not subject to regulation in any known jurisdiction.
However, many firms are adopting strategies to maintain a degree of separation from retail clients or are establishing a savings component of their services overseas. This approach allows them to operate within a framework that mitigates regulatory concerns but also enhances opportunities for traders.
By opening their own new trading platforms, FX brokers such as IC Markets are looking to expand their revenue streams through the profitable trades of their own traders. This allows brokers to not only increase their profits but also reduce their reliance on traditional revenue streams that are exposed to market changes and competitive dynamics.
IC Markets began operations in Australia in 2007 and caters to traders of all levels. The broker offers excellent conditions for scalping and automated trading. The company is licensed by the Australian Financial Services Licensing Authority (AFSL) and the Australian Securities and Investments Commission (ASIC).
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