ICE GROUP. News and plans: ICE AM and ICE FX audits, CFD, cryptocurrency, new indices and so on

Hello to all!
Today I will be announcing the main events of recent months, as well as companies’ plans for the near future. I’ll start with the most important ones.


I. ICE FX and ICE AM audits.

Audit of the track is completed, an audit report has been received.
You can download it here: «Audit report – Ice AM – by KPMG».
The report is also available on the ICE AM website in the statistics section.
The auditor was KPMG.
Using the KPMG contact details indicated in the report, you can check its reliability.

Unfortunately, it’s not possible to engage any of the “Big Four” for an audit (some do not make audits for offshore companies, others have some inconsistencies with Malaysian standards). Because of this, we have lost a lot of time.
But still, an audit will be conducted by one of the TOP-10 (in terms of turnover) auditors in the world:

Brief info:
Mazars was founded in France in 1940. It has since grown into one of the world’s largest audit, accounting and consulting firms. It currently has branches in 86 countries of the world, where over 300 offices of the company are located. The company employs about 20,000 full-time employees. Its turnover in 2015/2016 was €1.365 billion. Their reports and data can be found here:

Here you can see a letter from Mazars about appointment of the relevant auditor. This confirms that the audit is going on: «Mazars – Engagement letter».

Note. April 10 is the date of appointment of the auditor, and not the beginning of audit. Audit was launched on March 12.

Honestly, there are a lot of audit problems: they check every transaction, and all this takes too much time. Now, all individuals that withdrew funds from the company’s account are required to send a WRITTEN letter, confirming that they received this money and for which purpose. As you know, managers who trade with the company’s funds fall under this category, and now we have to somehow convince them all to send paper letters by mail to Mazars with explanation of the origin of these funds. By the way, you can verify this from our managers Solander, Lucky or Asmodeus.

Last year (for 2016), we completed audit in mid-June (the audit and auditor were simpler, exclusively for regulator). I hope the current audit won’t take more time, although looking at more and more new questions, and taking into account a decline in their adequacy, I won’t take a guess.


And there is bad news here: a solution to the MT 4 problem was found.
Some changes in the organizational structure of companies and the business model are expected. There are a lot of problems and issues with MiFID II.
I will write about all this a little later in a separate article.
The launching is tentatively November 1, 2018.

III. ICE FX. New indices: iSelect and iImpulse.

I have for several times said in the comments that we are not done yet with formation of indices, since our traders are not our slaves, but the same people with whom we need to negotiate work. Particularly major problems arise in our work contract in an offshore broker, who has no management license against European managers that have such a license. Being included in an index serves as a kind of stimulus and a pressure tool from us on such managers. There is not always (more precisely, almost never) the opportunity to determine whether we need a specific manager in the team for a long time. As a consequence, in order to retain all potentially important managers, we have to “bribe” them with something. Of course you know with what. This leads to the fact that iComposite and “A” rating as a whole do not at times have the best managers at the moment, because “they can still show a good result, therefore, they can be useful.”
One possible solution to this problem is creating additional indices, in which the managers will be duplicated with the main indices, which will give the investor a choice without infringing upon managers’ interests.
Unfortunately, the architecture of indices at the moment is such that creating and maintaining their functionality would require funds equal to the minimum investment in PAMM accounts of the managers included in its structure (more precisely, the minimum investment in the PAMM of the manager with the maximum value from managed accounts in the index, multiplied by the number of managed accounts in the index). In addition, each index has 6 multiplications. Summary: creation of a new index costs us about 100-200k of investment..
Therefore, we cannot stamp them for every taste and color.
In the future, we plan to rewrite the logic of the index functionality, but not yet.

I’ll write more about the new indices in a separate article.

IV. New counter parties and new trading instruments.

In May-August, trading counter parties and trading instruments will be significantly increased. The new counter parties will be:

  1. Exante.
  2. IS Prime.
  3. AFX Markets.
  4. (Possibly) Divisa UK.

In addition to improving the trading conditions for existing instruments, new ones will be connected:

  • CFD on major indices;
  • CFD on gold, oil, gas;
  • CFD on cryptocurrency.

The main problems and delays, as always, are linked to paperwork and other formalities.

I will describe more on connection of new counter parties and provision of new groups of instruments in a separate article.

V. Offline representative offices.

At the moment, the conditions for a new type of affiliate program called “Offline representative” are being finalized. They will be published once ready.
Those wishing to work as offline consultants and obtain exclusive rights of ICE FX representation in their region will be able to apply for the opening of an office and get additional opportunities and bonuses.
Detailed conditions will be posted later.


1. ICE AM: Addition to Bloomberg and BarSlayHedge databases.

All the 3 strategies have been added to Bloomberg investment platform:

Ticker Name
ICECOMP Ice Markets Asset Managers Composite
ICECONS Ice Markets Asset Managers Conservative
ICEMAMM Ice Markets Asset Managers Moderate

In the near future, we will begin adding strategies into the BarclayHedgedatabase. Things there are somewhat more complicated and longer.

2. Easy start.

In March a promo of the same name was launched, cancelling the minimum deposit requirements for trading and investing till June 1, 2018.
The promo aims at two things:

  • To test, i.e., to see if the minimum deposit amount by clients will increase;
  • To facilitate migration of clients under the “Alpha migration” program (described below).

3. Alpha migration.

As everyone already knows, Alfa-forex (AF) will on March 23, 2018 stop servicing clients from Russia.
We have developed a program aimed at transferring customer data to us, called “Alpha migration”.
It is actually comparable to the standard “Migration” but with some changes:

  • Only an AF client can migrate (that’s obvious);
  • The minimum migration amount is 100 USD (against 1,000 USD in the usual “Migration”);
  • Rebate bonus is higher by 2% at each level (it will be 4%/6%/8% instead of 2%/4%/6%);
  • Bonus to partners is higher by 10% at each level (it will be 20%/30%/40% instead of 10%/20%/30%);
  • A partner who attracted a client from AF receives the maximum level of all the tier-1 payments (no tier-2) for 3 months (13 weeks) with a rounding up of weeks. That is, 50˗60% – trade, 30˗40% – investments and 15˗20% – management of investor funds;
  • A separate program for attracting managers with an investor capital (not less than 20,000 USD) in AF.

The promo will last till the end of May 18, 2018.

You can participate in attracting clients from AF, especially managers and partners. Given the bonuses, the referral earnings are more than significant.

4. WebMoney.

You can now deposit and withdraw funds via WebMoney (WM).
Until April 6, 2018, the deposit commission has been compensated.
I will add that, despite working through an intermediary (aggregator of electronic payment system), we work with WM’s official approval. Our identifier in the WM system is:

In the comments to the article, you can indicate which other deposit/withdrawal methods you would like to see.

5. ICE FX website: FAQ.

A section for standard answers to frequently asked questions has been created. It will be constantly updated based on the questions received by the Technical Support Service.

6. ICE FX website: finalizing the Personal area.

As you could see, the Personal area is being actively revamped. Updates are being rolled out almost every weekend. Within a month and half, missing elements will be added and most of the bugs fixed.

7. ICE FX website: English version.

The English version of the website and Personal area will appear by the end of May.

8. Electronic journal.

In recent months, you could see the first issues of the monthly and quarterly magazines.
There will also be an annual version.
In the Personal Area, you will be able to unsubscribe from the mailing list.

The digest archive is available on the ICE FX website.

In the comments to the article, you can add what you would like to see in the magazine.

P. S. We have started publishing the promised cycle of articles on taxation in CIS countries: at the moment, materials on payment of taxes in Russia for agents and traders/investors have been posted; instruction on tax payment in Ukraine is being developed. Next, there is problem of accessing the databases of the laws of other countries (for example, Belarus has such problem).
In the comments to the articles, let’s remember that a lawyer who prepared these instructions will be answering your questions for a while.

Audit report - Ice AM - by KPMG
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Скачано: 8, размер: 99.4 KB

Mazars - Engagement letter
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Скачано: 7, размер: 9.4 MB

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