IC Markets Review
IC Markets Review
The company was incorporated in Sydney, Australia in 2007 by a team of financial professionals who sought to bridge the gap between retail and institutional clients offering trading solutions. Recently, the broker has grown to one of the leading trading providers in Australia and also expanded beyond as it served international entities, also establishing a Chinese Support center with competitive trade conditions.
IC Markets Pros and Cons
IC Markets is a broker with a good reputation and fantastic selection between platforms, including icmarkets MT4, MT5, and ic markets cTrader. Not only does IC Markets provide education for free through its various educational classes, but it also provides customer support 24/7.
Whether you are looking for a icmarkets spread-based or raw spread account there is an assortment of instruments to choose from: ic markets stocks & ETFs (including ADRs), Forex pairs/rates plus commodities such as gold bullion and oil options among others.
On the other hand, proposals may vary depending on entity type – offshore entities’ proposals tend to be higher than average due to their lack of regulation when compared to domestic brokers like IC markets which have significant regulations in place which keeps costs down!
10 Points Summary
Headquarters
Australia
Regulation and License
ASIC, CySEC
Platforms
cTrader, MT4, MT5
Customer Support
24/7
EUR/USD Spread
1 pip
Demo Account
Available
Minimum deposit
200 US$
Base currencies
10 currencies offered
Education
Included on a free basis
Instruments
FX, Equities, Commodities and Futures CFDs Crypto trade
What type of broker is IC Markets?
IC Markets is a trading environment provider that brings true spreads from 0.0 pips to traders at the speed of light with no dealing desk and no manipulation by banks or dark pools across 60 forex pairs. High volume, scalpers, EA trades, and robots are welcome.
- They offer:
- Fiber optic connections which allow for execution in milliseconds
- No dealing desk
- Low latency rates
Is IC Markets safe or a scam
IC Markets is considered to be a safe broker, as it’s constantly overseen and audited by the external reputable authority.
Is IC Markets legal?
In the case of IC Markets, the broker is incorporated in Australia and its service is regulated to trade by ASIC. In addition, IC Markets operates a regulated entity in Cyprus with an Australian license which means it can legally operate trading services for European clients.
Using multiple ways of regulation-which includes client money segregation while ic markets accounts are accessed exclusively by the customer – provides security and confidence for traders working with this firm because they know their money will be safe.
Leverage
The use of leverage can magnify gains but it also can lead to losses. Australian traders have the ability to trade with up to 1:500, European traders with a maximum of 1:30, and international trades at 1:500.
We urge all IC Markets users- whether they are Australian or from another country-to read the instructions carefully and use ic markets leverage tool wisely. Leverage is granted by brokers as loans that enable trading with bigger capital which might increase potential returns.
Account types
IC Markets is offering three different account types for traders with unique trading styles. The first two accounts come with ic markets raw spread conditions and commission charges per trade, as well as an icmarkets MT4 or cTrader icmarkets platform of choice. The third type offers multiple currencies up to 10, segregated funds from the company’s own finances and supported by its multi-lingual customer service team.
Additionally, IC Markets offers Swap free or Islamic accounts in conjunction with risk-free demos on both platforms that provide an opportunity to practice specified trading strategies in order to make informed decisions before executing any trades at all times.
Fees
IC Markets has different trading fees based on your account type and platform of choice. For example, the following fee schedule applies to all USD-based accounts: from 0.5% for trades executed up to 400 trades per month with a maximum trade size of 5% or $500 whichever is greater; for 401 – 800 transactions each month a total commission charge will be calculated at 1%; above 801 monthly transactions a fixed brokerage fee will be charged as 2%. It should also be noted that IC markets in various jurisdictions may apply its own trading conditions so always check it out too!
| Fees | HotForex Fees | FXTM Fees | XM Fees |
|---|---|---|---|
|
Deposit Fee |
No |
No |
No |
|
Withdrawal Fee |
No |
No |
No |
|
Inactivity Fee |
Yes |
Yes |
Yes |
|
Fee ranking |
Low |
Average |
High |
Spreads
MetaTrader4, CNS VPS Cross-Connect and Spread Only Basis from 1.0 pips: The Standard Account enables traders with Meta Trader 4 to enjoy all the benefits of a tight icmarkets spread account, while clients using Meta Trader 3 will be subject to an additional 0.1 pip per lot base cost in addition to the IC Markets standard commission rates for ECN accounts.
True ECN or Raw account allows micro lot trading from 0.01 size; deep institutional grade liquidity and ic markets spreads starting at 0pips are available on MT4 also While offers such as True ECNs are perfect for those looking for no commissions when executing trades (in other words there is only one fee paid) our experts advise that if you want your orders executed as quickly as possible it may not always be ideal because these types of agreements won’t provide access into every market through instant execution rather than via standing orders.
This means that if too many traders place large volume requests then there may not enough liquidity available on some levels where potential profits could have otherwise been realized. CTrader markets ECN account offers approximately the same features as MT4 but with a different platform which is mainly used by professional traders who trade bigger volumes.
| Asset/ Pair | IC Markets Spread | AvaTrade Spread | eToro Spread |
|---|---|---|---|
|
EUR USD Spread |
1 pip |
1.3 pip |
3 pip |
|
Crude Oil WTI Spread |
5 pip |
3 pip |
5 pip |
|
Gold Spread |
1 point |
40 |
45 |
Overnight Fee
IC Markets levies an overnight fee or a swap rate, which is determined by the interest rates of the two currencies involved in your trade and whether you’re buying (or selling) “long” or “short”. You need to bear in mind that this fee may bring about negative repercussions for you, but it can also be beneficial.
Here are some IC Markets fees:
Trading Instruments
The market’s offer includes a range that suits anyone’s demands and includes the major instruments to trade, along with new additions like cryptocurrency. The asset classes consist of FX, Equities, Commodities, Futures CFDs (Contracts for Difference), Stocks, and Bonds. IC Markets Crypto offers trading pairs with Bitcoin and Ethereum as well as leveraged products which offer a 1:5 margin at 20% risk on trades up to 500 shares in size or 0.01 lot size for long positions only where shorting is prohibited by law.
Deposits and Withdrawals
IC Markets levies an overnight fee or a swap rate, which is determined by the interest rates of the two currencies involved in your trade and whether you’re buying (or selling) “long” or “short”. You need to bear in mind that this fee may bring about negative repercussions for you, but it can also be beneficial.
Deposit Options
From the client area, you can deposit or withdraw funds with various methods including cards, PayPal, bank transfers (including local ones), Neteller, and Skrill. Qiwi China UnionPay and FasaPay among others.
IC Markets minimum deposit
A minimum deposit of 200$ is required for a Standard Account on the MetaTrader4 platform, along with the other two ic markets account types available at IC Forex Markets.
Withdrawals
IC Markets withdrawals allow you to use popular transfer methods like Bank Transfer, WebMoney, Cards, and e-wallets. IC Markets does not charge additional fees for deposits as well as applies a 0$ fee for withdrawals. However, with International Bank Wire withdrawal transactions IC Market will deduct the transfer fees charged by your bank’s institution which is approximately AUD 20 that are deducted from the amount of your withdrawal transaction.
How long does it take IC Markets to process withdrawals?
Withdrawals can be processed using a number of payment methods and the transaction will generally process within 1-2 business days, with confirmation from the IC Markets accounting team.
Trading Platforms
Apart from the sophisticated technical optimization of the execution provided by leading technologies, IC Markets provides advanced software proposals too. The two best platforms available in the market today are MetaTrader 4 and cTrader; they provide both direct access to and trading through an ECN environment.
Desktop Platform
The latest mobile apps are also available. They’re very useful for traders- they can stay up to date with market conditions while on the go and have full control over their positions. Likewise, MT4 (Meta Trader 4), MT5 (Meta Trader 5), and cTrader are available via Android or iOS devices
Auto Trading
What makes ic market broker excellent is the fact that it offers EAs for MT4 or MT5, as well as ZuluTrade. It’s a social trading platform with thousands of talented traders and free automation signals. Moreover, MAM and PAMM-multi account management systems are flexible tools that allow for running various automated strategies.
FIX API (which delivers high volume transactions) is also available to more active investors at no cost if the trader meets certain minimum requirements in terms of lot numbers per month (15 lots). Finally, VPSs offer flexibility when running lots of automated strategies.
Customer Support
IC Markets strives to offer not only the best technological solutions but also understands the need for good quality customer service and support. Their broker support is available 24/7 and they have offices in various regions that cover all of the icmarkets global so their customers are taken care of IC Markets representatives answer or assist those who need help.
Education
At the IC Markets team, they understand what traders want and need because of their significant experience in IC markets forex. Furthermore, educational materials are provided for free to help you gain a clear understanding of the topic through technical analysis reports and video tutorials.
Research tools are also available as well as an inbuilt trading platform with numerous analysis tools or having access to information on economic calendars or trade ideas made by IC Markets through their platforms that are readily accessible.
Conclusion - IC Markets Review
The IC Markets offers a truly advanced trading experience, where you can choose from various options to tailor solutions for almost any trading parameter; instrument choice, platform use, opening an account, and more. They even offer auto-trading and social media integration in some cases! These technical optimizations are among the strongest out there in terms of execution & performance optimization as well as the range of tools provided through support channels.
