IC Markets is now providing you more than 65 currency pairs as of now (2020) and 41 CFDs. IC Markets Broker is one of a few traders that provides you the opportunity of “Social Trading” as well with the help of the “Myfxbook” and “Zulu Trade” platforms. Read the complete IC Markets Review now.
Let's start a combing camparison between Two brokers' widely used tools, mobile apps, platforms, spreads, and more.
Regulated by ASIC, CySEC, FSA
Fabricated back in 2007, IC Market is considered a "CLASSIC " Foreign exchange brokerage of modern time which is mainly based in Sydney, Australia. IC is a well-reputed and HIGHLY regulated ( by ASIC ) brokerage committed to providing the possible BEST trading experience to the market traders.
The brokerage company is conducted by the International Capital Markets PTY and the headquarters are situated at level 6 of 309 kent street in Sydney.
IC market is widely known for providing the maximum number of leverage along with low spreads and fees compared to all the other brokers of Australia. Besides, IC is also providing Futures, Commodities, and Indices.
Bank Wire, VISA, MasterCard, BPAY, ePayments, FasaPay, Klarna, Local Bank Transfers, Neteller, PayPal, Poli, Rapid Pay, Skrill, Transfer from Existing Broker, UnionPay
Bank Wire, VISA, MasterCard, Local Bank Transfers, Neteller, PayPal, Skrill
IC Markets is one of the most popular brokers whether it's in the Australian residence or out of it. Besides, they prove 3 types of trading accounts that are currently considered a wise choice among the traders. Here are they:
So, choose one which suits you BEST!
The standard trading accounts are best suited for Forex beginners as it was specially designed for them. The account offers large spreads and charges ZERO commissions.
On the other hand, the raw trading accounts are made for the professional figures of the Forex industry. Besides, the account offers low spreads but you'll have to pay a commission of $3.50 per lot.
Moving on, the cTrader accounts are also made for expert traders so that they can enjoy trading even more. The cTrader offers very low spreads but charges a commission of $3 per lot. Moreover, C# language is being used in these accounts.
And the minimum deposit amount of IC is $200 or equivalent to that amount and the average spreads are EUR/USD is 0.1 pips, GBP/USD 0.5 pips, EUR/GBP 0.5 pips.
Note: Though IC Markets haven't disclosed anything about their leverage specifically but you can count them using the following formula:
Margin = trade size/account leverage
But as per multiple sources, the leverage is approximately 500:1 where the lot size is 0.01 pips.
Besides, IC offers market executions to its users, and sorry to disappoint you all but they don't offer any instant execution.
This is probably a drawback
IC Markets doesn't hold back while providing an ULTRA wide range of trading assets or instruments to its clients. Though IC is primarily known for providing a wide range of trading instruments for Forex, they also provide CFDs, Indices, Stocks, Futures, metals, gold, crypto, etc.
Here are the products provided by IC at a glance:
Forex: IC provides you access to 90+ trading currencies which is probably the most compared to other brokers.
Commodities: IC lets you trade on commodities along with Futures.
Metal: You'll be able to trade on precious metals with IC Markets.
Indices: You'll be eligible to trade on more than 12 international indices including FTSE 100 and NASDAQ.
Gold: You'll be able to trade XAU with any other preferred currency.
Crypto: You'll be given access to trade on BTC, ETH, LTC, XRP, and more!
CFDs: Over 10,000 CFDs are available to trade with IC.
And that's not even it!
To experience the ULTRA advantages of IC markets, join them from this very moment.
IC Markets is one of the brokerages that are considered properly regulated and that too with the possible highest regulatory bodies out in Australia.
Which is none other than ASIC ( Australian Securities & Investments Commission ) under the license number of 335692.
Despite being regulated with ASIC, IC is also a member of the FOS which stands for the Financial Ombudsman Service. As a reason, the traders are given another layer of security through the FOS.
Moving on, the true owner of IC Markets is True ECN Trading Ltd and which is regulated by FSA.
In the Australian region, IC Market is widely known for providing both smart and innovative trading platforms. And just to be cleared, not only in Australia even in other regions, traders feel more than comfortable using their trading platform as their GO-TO.
Moving on, IC Markets is currently providing the MT4, MT5, and the reclusive cTrader. The cTrader trading platform is only provided by IC and it is known as one of the most innovative trading platforms of all time.
Let's get a BETTER overview of the trading platforms of IC:
The MT4 is a must-have feature that every brokerage tends to own as there is no possible alternative for it. Besides, the MT4 provided by IC is pretty decent, customizable and it comes with charting tools, EA's along with strategy back-testing. More importantly, it offers multi-language support for clients across the globe.
The MT5 is more of an innovative as well as a tech-based trading platform that is created to perform and can be referred to as a true successor of the classic MT4. Besides, it offers advanced trading charts, 10+ timeframes, EA's availability, and much more!
cTrader
The cTrader is an innovative and smart trading platform that is exclusively available on IC's trading platforms. The cTrader also supports automated trading and is available for both desktop and mobile devices.
Wait a sec, There's more!
With the help of the cTrader platform, traders are eligible to choose from ZuluTrade or Myfxbook’s while using Forex EA's.
Apart from that, the cTrader platform offers:
IC Markets is now providing mobile trading opportunities to traders across the globe. As for mobile trading, it's the MetaTrader4 which is quite identical to the web version of MT4.
And... it gets even BETTER!
Because the mobile trading platform is available for both android and ios devices. Besides, to use the platform, you've to first download it from the google play store or app store and then access it with the Live server of IC.
Also, similar to the web version of MT4, you'll also be given access to use the multi-language option in your mobile trading app. Though, it can be a hassle sometimes as you'll also have to change the default language of your device.
Source: brokerchooser.com
IC Market undoubtedly is one of the tightest and strictly regulated Australian Forex brokerages and they've proved their worth by showing consistent results.
Besides, IC doesn't offer you any sort of bonus or promotions but what could be the reason?
Well, from our frank perspectives, the possible reason maybe they don't want to offer anything which can cause the defame. As we all know, bonuses are probably the center of every spamming act.
And we all can relate to that!
Therefore, if you're a trader who opts for trading bonuses then IC might not be the right pick for you.
While depositing your money in your trading account, IC has got your back as they provide various deposit options as well as accept a lot of currencies which includes, USD, CAD, AUD, GBP, NZD, SGD, JPY, CHF, and HKD.
And… it does not happen quite often!
And as for the deposit methods, they accept Debit and Credit cards, Broker to Broker transfer, BPay Deposit, Neteller, Skrill, Branch Cash Deposit, QIWI, WebMoney, FasaPay, and China Union Pay.
Note: The same transaction methods can also be used for withdrawals.
Moving on, The withdrawal process of IC usually takes about one day or sometimes more than one day depending on the political and economical circumstances. The cost per withdrawal is 25 AUD or equivalent to that amount.
IC Market ensures its client with a reliable and committed customer support program that is ready 24/7 for serving the needs of every single user across the globe.
Besides, you can contact them via +248 467 19 76 (where international charges may apply) or mail them at support@icmarkets.com. Also, you'll be able to talk directly with their customer support representative through live chat.
IC Markets provide diverse educational materials for the traders so that the traders can learn the fundamentals of the Foreign exchange industry. And to execute the sole purpose, they provide:
IC Markets does not offer negative balance protection. Should you have a negative balance on your account, we suggest you contact us as soon as possible.
You can withdraw funds from your trading account by submitting a withdrawal request from your Client Area. There are a number of withdrawal methods available; however, the methods available depend on the deposit method that you used to initially fund your account.
However, this may vary depending on your jurisdiction and the bank you use, and it may take up to 14 days and incur additional intermediary fees. Credit / Debit Card withdrawals* are processed free of charge. Once processed, Credit / Debit Card withdrawals may take 3-5 business days to reach your credit card.
Trading – Scalping Allowed. IC Markets MetaTrader 4 and 5 platforms have no restrictions on trading. We have some of the best trading conditions for scalping and high-frequency trading globally, allowing traders to place orders between the spread as there is no minimum order distance and a freeze level of 0.
IC Markets is authorized and regulated by the Australian Securities and Investments Commission (ASIC) and The Seychelles Financial Services Authority (FSA). Trade with peace of mind knowing IC Markets is monitored by one of the strictest financial regulatory bodies in the world.
IC Markets is an Australian forex broker that was founded in 2007. The company is considered safe because it is regulated by the top-tier Australian Securities and Investments Commission (ASIC). Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
IC Markets holds client money in segregated client trust accounts with a number of AA-rated Australian banks. We diversify the client money in segregated client trust accounts across multiple banks to reduce the credit risk and counterparty exposure. How does IC Markets use my personal information?
IC Markets is authorized and regulated by the Financial Services Authority (FSA) of Seychelles. Trade with peace of mind knowing IC Markets is monitored by one of the strictest financial regulatory bodies in the world.
