ICE MARKETS

What ICE MARKETS does

ICE Markets Limited is a privately held retail forex and CFD brokerage founded in 2015 (originally as ICE-FX Markets Limited in Vanuatu), now incorporated in Labuan, Malaysia under Labuan FSA supervision with a secondary registered address in the Comoros. The company operates on the MetaTrader 4 platform offering 94 trading instruments — 44 currency pairs, 3 metals, 2 CFD commodities, and 45 cryptocurrencies — under a 100% A-book STP execution model with liquidity sourced from external counterparties (Velocity Trade, Sucden Financial, EXANTE, Integral, DIVISA UK, GC Exchange). Its proprietary ICE-MAM technology underpins the managed-account investment product, providing single-price execution across investor accounts, while a Multiplication feature lets investors choose 1x-5x risk variants of the same manager.

The business serves three primary customer personas: self-directed traders (forex, crypto, CFDs), passive investors in managed accounts (minimum $10), and professional managers seeking capital to trade (minimum $300), plus a secondary channel of partners and affiliates. Revenue is generated entirely through transaction-based streams — trading commissions per lot, performance fees of 8-12% on profitable managed-account periods (which ICE Markets shares with managers), and partner referral commissions of up to 50% of trader fees and 35% of investor fees. Pricing tiering (Premium, VIP at $50,000, Elite at $150,000) and a MarkUP structure (x2-x20 commission multipliers for partners) layer additional economics onto the commission base.

The firm is micro-scaled at approximately 6 employees, with no disclosed ownership, funding, or revenue figures. Distribution is direct-to-consumer via website and MetaTrader 4, supplemented by a two-tier affiliate program and a migration program targeting clients of competing brokers. The company rebranded from ICE FX to ICE Markets in July 2022, pivoting toward cryptocurrency and decentralized finance solutions, and operates globally while excluding EU/EEA, US, Canada, Israel, New Zealand, Iran, and North Korea.

Name

ICE MARKETS

Legal name

ICE Markets Limited

Website

https://ice-markets.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

ICE Markets is a privately held offshore retail forex and CFD brokerage offering MT4-based trading and managed-account investment services to self-directed traders, passive investors, and affiliate partners globally (excluding EU/US/Canada).

Ownership category

akta.pro rank

Product category

Retail Forex and CFD Brokerage

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Portfolio Management and Investment Advice (523940), Commodity Contracts Intermediation (52316)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Digital Brokerage & Self-Directed Investing Platforms (FSAGAEAC)

akta.pro secondary industries

Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA), Algorithmic Trading & Execution Platforms (FSAFANAN)

Keywords

• Forex brokerage services
• CFD trading platform
• Managed account investment
• Cryptocurrency trading
• Affiliate partner program

Headquarters

HQ city

Hamchako, Mutsamudu

HQ country

Comoros

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Marketing or Sales, Infrastructure, Operations, Personnel, Supply Chain

Revenue model

1. Trading Commissions: ICE Markets earns commissions from trading activity on client accounts. Standard accounts and MarkUP accounts (with increased commission multipliers x2 to x20) generate commission revenue per lot traded.
2. Managed Account Performance Fees: Managers receive 8-12% performance fees on profitable trading periods. ICE Markets retains a portion of these fees as platform revenue.
3. Partner Referral Commissions: Partners earn up to 50% of trader commissions and up to 35% of investor commissions. Two-tier affiliate program offers up to 60% of referral earnings.
4. MarkUP Account Premium: Partners who provide exclusive support services can activate MarkUP accounts with increased commissions (x2 to x20 multipliers), generating higher referral fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

ICE Markets operates an online brokerage that lets self-directed clients trade 94 instruments — 44 currency pairs, 3 metals, 2 commodity CFDs and 45 cryptocurrencies — through the MetaTrader 4 platform with 100% A-book STP execution. It additionally offers managed-account investment services via its proprietary ICE-MAM technology (with Multi-MA variants and composite indices) and a multi-tier affiliate/partner program.

Product overview

ICE Markets is a forex and CFD brokerage offering trading and investment services since 2015. The platform operates on MetaTrader 4 with 100% A-book STP execution. Its core products include trading services (forex, metals, cryptocurrencies, CFDs) with 94 trading instruments, and an investment system comprising managed accounts (MA) using proprietary ICE-MAM technology, Multi-MA for portfolio diversification, and Investment Indices (iPro, iMain, iComposite, iMinor) combining multiple managers. The ecosystem also includes a partner program with SubID tracking and MarkUP accounts, rebate and migration programs for client retention, and integrated risk management controls. The company provides APIs for partner analytics and integrates with multiple payment systems and liquidity providers.

Differentiator

Problem solved

Functional benefit

Products and services

• MetaTrader 4 Online Trading Service Retail trading service letting clients execute forex, metals, cryptocurrencies and CFD orders (94 instruments in total) on the MetaTrader 4 platform with 100% A-book Straight-Through Processing execution.
• Managed Accounts Service (ICE-MAM) Investment service in which investors pool funds with a professional manager on an execution account; trades are copied from the manager's master account and aggregated before being sent to external counterparties, with single-price execution and an 8–12% performance fee (High-Water-Mark) charged only on profitable periods.
• Multi-MA Multiplication Service Extension of the managed-account service that creates up to five risk variants (multipliers 1x to 5x) of the same trading manager, all executed at the same external price, so investors can pick an aggressiveness level without changing managers.
• Investment Indices (iPro, iMain, iComposite, iMinor) Portfolio products that combine multiple ICE-MAM managed accounts into a single index offering different risk profiles — iMain more aggressive than iPro, iComposite a hybrid of the two, and iMinor providing maximum diversification.
• Affiliate / Partner Program Two-tier partnership offering paying partners up to 50% of trader commissions, up to 35% of investor commissions and up to 60% of referral earnings, supported by SubID tracking, marketing widgets, landing pages and a public statistics API.

Quantifiable outcome

• Order execution speed: less than 1ms
• +3 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

Feature5 records

Scale indicators3 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• FBS: Retail forex broker operating internationally with MT4/MT5, affiliate-driven acquisition, and tiered client statuses (VIP, Elite). Comparable product positioning and partner-program economics.
• Tickmill: STP broker offering MT4/MT5 trading in forex, indices, commodities, and crypto CFDs. Comparable retail focus, execution model, and emerging-market distribution.
• RoboForex: MT4/MT5-based multi-asset broker offering forex, metals, and CFDs with affiliate/partner programs and tiered client privileges. Highly comparable execution model and partner-led GTM.
• XM Group: Global retail forex and CFD broker offering MT4/MT5 execution, affiliate programs, and broad instrument coverage. Closely comparable retail clientele, execution model, and partnership-driven GTM.
• Exness: Multi-jurisdiction retail forex and CFD broker with MT4/MT5, partner/affiliate programs, and similar geographic exclusions. Closely comparable broker model, instrument breadth, and emerging-market focus.
• IC Markets: MT4/MT5-based retail forex and CFD broker with STP/ECN execution and a global (non-US) footprint. Directly comparable product, execution architecture, and target self-directed trader.
• HotForex (HFM): Multi-regulated retail broker with MT4/MT5, copy-trading/managed-account products, and partner/affiliate programs. Comparable breadth of services and non-US/EU distribution emphasis.

Broad incumbents

• eToro: Multi-asset retail platform offering trading and copy-trading/investment products. Comparable self-directed-plus-managed-account mix, though eToro operates its own proprietary platform and is publicly listed.
• Pepperstone: Tier-1-regulated (FCA, ASIC) MT4/MT5 broker with deeper regulatory footprint and broader institutional presence. Comparable underlying product and execution, but operates at a larger scale with stricter licensing.
• OANDA: Long-established retail forex broker with proprietary and MT4 platforms, broader regulatory footprint, and institutional services. Comparable retail trading core, larger scale, and stronger regulatory standing.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks7 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/ICE.Markets
• LinkedInlinkedin.com/company/ice-markets

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ICE MARKETS