IC Markets

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TitleContents
broker popularity top broker high popularity best reviews benchmark
Leverage≤500:1
Minimum Deposit$200
Year Established2010
RegulationASIC, CySEC, FSA
Payment methodsBank wires, credit/debit cards, PayPal, Neteller, Skrill, Union Pay, BPay, FasaPay, Broker to Broker, POLi, Thai Internet Banking, Rapidpay, Klarna and Vietnamese Internet Banking
Publicly Traded
Type of BrokerECN/STP
MT4
MT5
Trading AssetsCurrencies, Commodities, Indices, Stocks, Crypto
Demo Account
Islamic Account
CopyTrading
Signals
Deposit Fee
Withdrawal Fee
Rating★★★★★
Offers Official Website

Alternative Brokers

Pros and Cons

Pros
  • Low forex fees
  • Competitive pricing and scalable execution
  • Easy and fast account opening
  • Free deposits and withdrawals
  • Provides social copy trading platforms and a growing selection of research and educational materials
  • Provides an impressive range of social copy-trading platforms and platform plugins
  • Offers VPS service, cAlgo FIX API, more than 20 MT4 add-ons and indicators, educational content, Myfxbook AutoTrade, ZuluTrade, and market analysis blog
Cons
  • Limited product selection
  • Slow live chat support
  • No investor protection for non-EU clients
  • Some negative reviews regarding spreads and stop loss manipulation

IC Markets is a prominent player in the world of online trading, known for its wide range of financial instruments, robust trading platforms, and competitive pricing.

In this comprehensive review, we’ll delve into every aspect of the broker to help you make an informed decision about whether this broker is the right fit for your trading needs.

Introduction to IC Markets Broker

IC Markets is an Australian-based online brokerage firm that has earned a solid reputation for its transparent and efficient trading services.

With a strong emphasis on low-latency execution and tight spreads, it aims to cater to both novice and experienced traders worldwide.

Background and History of IC Markets

Founded in 2007, The broker has over a decade of experience in the financial markets.

The broker has evolved over the years, continuously enhancing its offerings and expanding its global reach.

It is regulated by the Australian Securities and Investments Commission (ASIC), ensuring a high level of trustworthiness.

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Trading Instruments Offered by IC Markets

It provides traders with a diverse selection of instruments to choose from, including:

Forex Pairs

It provides a wide array of major, minor, and exotic currency pairs, making it an attractive choice for Forex traders seeking market diversity.

Commodities

Traders interested in commodities can access CFDs (Contracts for Difference) on precious metals like gold and silver, as well as energy commodities like oil and natural gas.

Indices

It also offers CFDs on major global indices, allowing traders to speculate on the performance of stock markets worldwide.

Cryptocurrencies

For those intrigued by the crypto market, The broker provides access to popular cryptocurrencies like Bitcoin, Ethereum, and Ripple.

Trading Platforms Supported by IC Markets

The company ensures traders have access to cutting-edge trading platforms, including:

MetaTrader 4 (MT4)

MT4 is a well-known platform, appreciated for its user-friendly interface, advanced charting tools, and automated trading capabilities.

MetaTrader 5 (MT5)

MT5 is the successor to MT4, offering even more advanced features, including additional timeframes and an economic calendar.

cTrader

cTrader is a popular choice for ECN (Electronic Communication Network) traders, known for its fast execution speeds and customizable interface.

Account Types and Features

This broker offers various account types tailored to different trading needs:

Standard Account

Suitable for beginners, this account features no commissions and competitive spreads.

Raw Spread Account

Designed for advanced traders, this account offers raw spreads starting from 0.0 pips, with a small commission per lot traded.

Islamic Account

The broker provides Islamic accounts that comply with Sharia law, allowing traders of the Islamic faith to participate in Forex trading without interest charges.

Security Measures at IC Markets

It prioritizes the safety of clients’ funds by segregating them in top-tier banks and implementing robust security protocols.

Additionally, the broker includes negative balance protection, ensuring traders don’t lose more than their initial investment.

Trading Fees and Commissions

The broker is known for its transparent fee structure.

While spreads vary depending on the account type chosen, the broker’s low commissions make it an attractive option for cost-conscious traders.

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Customer Support and Resources

The company provides round-the-clock customer support via various channels, including live chat, email, and phone.

The broker also offers educational resources, including webinars and trading guides, to assist traders in their journey.

How to Open an Account with IC Markets

Opening an account with IC Markets is a straightforward process.

Visit their website, complete the registration form, submit the required documents, and fund your account to start trading.

Trading Strategies with IC Markets

Successful trading with IC Markets involves implementing sound strategies, including risk management, technical analysis, and staying informed about market news.

Trading Tools and Features

The broker has a range of trading tools and features to enhance the trading experience:

VPS Hosting

For traders who rely on automated trading strategies, IC Markets provides VPS (Virtual Private Server) hosting.

This service ensures uninterrupted trading by hosting your trading algorithms on a dedicated server with low latency.

Autochartist

It also provides with the Autochartist tool, which scans the markets for potential trading opportunities.

It provides traders with automated technical analysis, including chart pattern recognition and volatility analysis.

Economic Calendar

Staying informed about economic events is crucial for trading.

It includes an economic calendar that highlights important events, such as economic releases, interest rate decisions, and geopolitical developments, which can impact financial markets.

Education and Training

The company understands the importance of education in trading:

  1. Webinars and Seminars: The broker regularly conducts webinars and seminars conducted by industry experts. These sessions cover a wide range of topics, from beginner’s guides to advanced trading strategies.
  2. Trading Guides: IC Markets offers comprehensive trading guides and tutorials on various trading topics, including risk management, technical analysis, and trading psychology. These resources are valuable for traders of all experience levels.

Conclusion: Is IC Markets the Right Broker for You?

In conclusion, it offers a compelling proposition for traders looking for competitive pricing, diverse trading instruments, and reliable execution.

However, it’s essential to assess your specific trading needs and preferences before choosing this broker.

Conduct thorough research, consider your goals, and try their demo account to determine if IC Markets aligns with your trading style.

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FAQ – Frequently Asked Questions

✅ What products can I trade with IC Markets?
IC Markets offers a range of trading products, including currencies, commodities, indices, stocks, bonds, and cryptocurrencies.
➡️ What leverage does IC Markets offer?
IC Markets offers leverage of up to 500:1 for forex trading.
💱 Is IC Markets regulated?
Yes, IC Markets is regulated by ASIC, CySEC, FSA, and SCB.
📈 What type of broker is it?
IC Markets is a market maker and no dealing desk broker.
Does it offer a demo account?
Yes, IC Markets offers a demo account for traders to practice trading with virtual funds.
Does it charge deposit or withdrawal fees?
No, IC Markets does not charge deposit or withdrawal fees.
Does this broker offer copy trading or signals?
Yes, IC Markets offers copy trading and signals services.
What is the Raw Spread Advantage offered by IC Markets?
The Raw Spread Advantage is a feature offered by IC Markets that provides traders with spreads from 0.0 pips, no requotes, the best possible prices, and no restrictions.

References and Sources

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Article written, edited and reviewed by

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Adam Rosen

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Last updated: July 5, 2024