To Tjandra,
Bandar Brokers are most easily identified by the following characteristics:
Bandar Brokers generally set many convoluted trading rules (trading terms and conditions). Because the element of conflict of interest between the broker and the client is very high, the articles in the trading rules are deliberately made to give the broker a way out of not fulfilling their obligations as promised to the trader.
On the trading software, delays or acceleration of order execution, price freezes, price manipulation, and others often occur. The purpose is to make traders easily loss.
To keep people interested, Bandar Brokers usually offer many tempting promotions and fantastic bonuses. For example, leverage up to 1:1000 or more, Fixed Spread (not in accordance with the Market), deposit bonuses of several hundred percent, can transfer via third parties, and others. The target is to make it easier for people to deposit funds with them.
For IC Markets, so far we have not found any of these Bandar broker characteristics in trader testimonials. However, for greater safety, you can try their demo platform first. If you feel comfortable, you can proceed to open an account.
Personally, I have opened an account at IC Markets and for ECN accounts it is very good.
Thanks.