Hi
ICM is a MM broker?
It is risky to use it?
How can you know that it is a ECN or MM?
I am not sure about it.
I think you can switch from IC Markets to Global Prime if you are looking for a pure ECN A-book broker and affordable commissions.
IC market is quite scary esp when some slippage is expected, eg. market open, or news time. They give you huge slippage and say its quite common to have slippage. During normal trading times, 95% of trades suffer slippage (NOT IN YOUR FAVOUR). So, the true cost of trading IC market could be huge not just $7. How can you have slippage on every trade? I have used been with them long enough to know that this is business as normal for them and its so visible on platform. If they see an opportunity - believe me they will close your trade at the worst price possible, as if they are trading against you and want to take even that last pip. If there is news its xmas for them, your account can be inundated. Worst part, they never accept that huge slippage is unacceptable - they call it normal. IC market slippage is getting more attention everyday in different fx forums. Sooner or later, their business model will collapse, as bucketshops don’t last long as they cannot cheap people for ever.