ICMarket is not a broker - Confusion

Hello, i mailed ICMarket support team asking some question how they work and the replied i got is confusing for me. Can anyone explain me what they mean.

There are no such thing as a Forex broker for retail. All ICM is doing is forward your orders to their partner, which can be a big bank who acts as a market maker (one of several, hence why there is no standardized price for currency pairs). This is covered in the School of Pipsology, check out this article.


In the end we’re not buying or selling anything in forex, we are betting.

Some people who read this won’t believe it.


Here’s the specific lesson regarding why they are CFD issuers instead of brokers.

This lesson also explains why they aren’t actually brokers. And why you are a “customer” and not a “client” of theirs.

In terms of assessing risk arising from using certain brokers, I would put lax regulatory conmtrols much higher than whether they might or might not be a market maker.