ICE FX review: Regulations, Platforms, Features and Ratings.

Thank you for your review and it is important to provide contextual information in order to understand the actions that were taken on your account as we did via the email sent to you and other customers whose accounts were subject to fraudulent activity.

You opened a "CENT" account with the Company.

Cent accounts were created exclusively for checking Expert Advisors/Robots in market conditions, as explained in the description of the account type. Instant order execution method was used which differs from Real STP trading accounts, where Market Execution is used.

When the volatility is low, the execution prices of orders using both Market Execution and Instant Execution are practically the same. However, due to the start of the coronavirus pandemic in March, financial markets began to show increased volatility. Because of this, there was a substantial difference between the execution prices.

At the same time, the Company noticed suspicious activity on yours and some other CENT accounts related to arbitrage trading. The delay in Instant-quotes used on cent accounts in comparison to the the quotes on Real accounts during the ultra-high volatility period was taken advantage of and abused by a group of traders. This practice was exploiting the vulnerabilities of the Instant-execution method adopted in cent accounts.
Therefore, in accordance with clause 13.13 of the Client Agreement, ICE FX cancelled all results of transactions on cent accounts opened from March 9, 2020 and decided to remove cent accounts from the offered account types.
We informed absolutely all customers whose CENT accounts were adjusted as a result. Additionally, we described the situation in detail on our blog (https://blog.ice-fx.com/czentovye-scheta-prichiny-udaleniya/) as well as in the shorter news article that was published (https://ice-fx.com/en/company/news/closure-of-cent-accounts-and-adjustment-of-trading-operations).

We continue to, and have always offered Real STP-accounts with Market Execution using prices provided by our liquidity providers, where the risks of the Company are hedged. This is why there are no restrictions on arbitrage trading on Real accounts. Cent accounts with Instant Execution were always provided for clients in order for them to test their systems. Unfortunately, prices on cent accounts began to differ significantly from the market.

We have never cancelled any orders because they were unprofitable to the Company or closed accounts due to their profit margins, neither are there plans to ever do this. We value transparency with our clients and strive to maintain this transparency in every step that we take.

Additionally, it is important to note that the Company has never been regulated by Lebanon. ICE FX Markets Limited is registered in the federal territory of Malaysia, Labuan. The registration number is LL12180, license number MB/15/0007. You can always check our license information on the regulator's website via the following link: https://www.labuanibfc.com/areas-of-business/financial-services/money-broking/list-of-money-brokers.