We were the first to report earlier this year that IC Markets was preparing to launch a prop trading offering.
Now it seems the broker has soft launched the product, with a new URL – ICFunded.com. Clients can sign up to the offering but only in Beta mode.
TradeInformer understands that the product has been live for over a week now and has already seen strong traction with existing clients.
IC Markets is the latest of several brokers to launch a prop firm, or funded trader programme. Axi, Oanda, and Hantec Markets have already done the same, as have smaller firms Raise FX and YaMarkets.
The sector remains in something of regulatory grey area. Most providers are only offering demo accounts, which aren’t subject to any regulation in any jurisdiction that we’re aware of.
However, we note that many providers are choosing to set up the funded component of their offering offshore or to structure it in such a way that they are still at arm’s length from end clients.