Is there any way that I can collect the IP Address from where the form is submitted?

I need to have some form of storing the IP Addresses used by my users to submit the form.

Yes. The IP addresses are stored into the submissions by default. However, you need enable the IP check box to view the IP address from the submissions view. 

Hope this answers your question. Please get back to us if you need further help. We are happy to assist you.