ICmarkets entity

Broker Discussion
1

So today I have received this email from my broker (ICmarkets) which states the following:

"Dear Client,

Your trading account(s) requires your attention.

Due to your country of residence, you need to select and confirm an IC Markets entity by 19th March 2021 to continue to trade with us.

As a global company with multiple regulated entities within its group, IC Markets gives you the ability to select an entity that is better suited for you.

Take action by the 19th March 2021 or we may not be able to continue servicing you.

Click on the button below to make your selection (you will need to log into your Client Area if you are not logged in already)."

Basically I have 3 options

  1. ICmarkets EU
  2. ICmarkets Global
  3. ICmarkets AU

I’m currently based in Belgium, but I prefer staying with ICmarkets AU, because I have heard that the regulations in AU are a bit more strict and reliable. ICmarkets EU is regulated by the CySEC, which I have heard some bad things about.

Are there any problems if I stay with ICmarkets AU? If so, could anyone please tell me why.
I would also like to know it it’s better to switch over to ICmarkets EU.

Any other tips are welcome!
Thanks in advance

2

I don’t think there would be any issues of you staying with AU. They are just making sure you know the deadline to change entity in case you wanted different conditions.
I switched to Seychelles entity for higher leverage and am quite satisfied. No issues. If you don’t mind the lower leverage then stay with AU. If in the future they cannot keep servicing you they will inform you.

3

I don’t believe in the fact that any broker is better than the other. It is all about the trader’s requirements. Some brokers may like one broker while others may like the other one. It is all about finding the broker that fits your requirements the most. Don’t believe everything that others say.