IMS Markets – what we know and have as facts about it; This is a trade name of Initial Merit Secure Ltd (previously Nextrade Worldwide Ltd), which is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 229/14. This license allows it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Order Execution Policy document that the company in some cases may transmit orders for execution and then it acts as an agent on behalf of the client. This means that IMS Markets usually uses the Straight Through Processing (STP) model for order fulfillment. However, in the Execution Quality Summary Statement file it is written that the company acts as principal and not as agent on the customer’s behalf; therefore, the company is the sole execution venue for the execution of the customer’s orders for the financial instruments provided by the company. So, in some cases, IMS Markets will be the execution venue for the execution of the client’s orders. In other cases, the company may act as agent whereby some other financial institutions will be the execution venue. Therefore, the client may trade with the company as a counterparty (whereby the company will be acting as a principal) and IMS Markets will be a market maker. In general, dealing with market makers involves a conflict of interest because they do not transmit every customer deal and hope that customers will lose. Every loss of customers is their profit.
So far, we have not received any complaints from customers of IMS Markets. If you have any criticism to share with us or feel annoyed by IMS Markets, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and IMS Markets if you wish.