Some answers to the most frequently asked questions about Icmarkets.

Q: What is an ECN?

A: An ECN is known as an electronic trading network. The ECN technology helps price “suppliers” (e.g. tier 1 investment banks, etc.) submit executable price streaming (including offers and bids) to the trader, creating a virtual order book in the same way as a stock exchange. Any ECN member who has the required liquidity to sell as an offer (buy limit) or buy as a bid can be a price maker (sell limit). IC Markets can deliver exceptionally deep liquidity with some of the largest book prices (spreading) worldwide by building a virtual order book of price-makers mostly made up of Tier 1 banks. All trading orders are usually executed in real-time in milliseconds between liquidity suppliers per request.

Q: What does STP mean?

A: Generally, an ECN intermediary such as IC Markets acts as a link between customers and the market; all orders are directly routed through ECN, filled by one of the liquidity providers with the required liquidity (LPs). If you assume the role of a clearer for consumer trades and use many LPs, there will be no conflict of interest between IC Markets, its customers, and its LPs. Also, no trading desk is active in price quotation and order execution. IC Markets does NOT and will NEVER trade against their consumers.

Q: What are ECN Forex brokers’ advantages?

A: ECN Forex traders have the ultimate raw spreads. These ECN brokers have no preference issues with their customers or liquidity providers. They serve simply as an agent between consumers and the market. The fee is the only income or profit earned by an ECN broker. They are constantly interested in acquiring new and retaining their existing clients through superb customer service. Otherwise, they will not be able to generate any income.

Q: What are ultra-low latencies?

A: Latency is the time lag that a data packet (or business) takes to pass from source to destination (client to broker). Ultra-low latency is suitable for manual and automatic trading. The earlier prices are received, the faster orders can be entered. This would improve the odds of the price you are seeking to trade. This is most useful in times of unpredictable market behavior as rates update and shift rapidly.

Q: What’s a lot? 

A: 1 Lot is the regular FX trading size and covers 100,000 currency units.

Q: What’s a round turn?

A: This is known as the whole transaction covering both trade entry and trade exit.

Q: How does ICMarketsForexRebates.com provide benefits?

A: You have to pay a higher commission fee if your trading account is opened directly with IC Markets and not through us! Their fixed price is $7.00 for each round lot. If you open a trading account through our referral page, you will get a $1.50 discount per lot round. This reduction is taken immediately from the commission so that you can trade at a reduced rate of $5.50 per lot (round turn). Your spreads will not increase, and all other trade conditions will remain the same! You essentially trade the same way with the same conditions if you opened your account with the broker directly.

Q: Does my spread increase?

A: No, it will not!

Q: Is it important if my trade is a winner or a loser?

A: Not at all. Every trade you execute earns you a discount regardless of whether your trade wins or loses.

Q: Does ICMarketsForexDiscount have (hidden) costs?

A: No. It doesn’t cost you anything. No catch, no (hidden) prices, no increased spreads, etc.. It is a real advantage for every trader. Guaranteed!

Q: Do I have to provide my PayPal ID, PayPal account number?

A: No. Your rebate will be automatically deducted from your opened trade.

Q: When will I get my Forex discount?

A: You will get your discount immediately. You trade directly with the same spread but at a reduced fee. Your ICmarket discount is deducted immediately from your commission.

Q: Does IC Markets accept US customers?

A: IC Markets does not currently accept US clients. US CTFC laws prohibit US customers from dealing outside the US with brokers. IC Markets complies with all applicable Australian and international laws.