IC Markets review by - TopAsiaFX
Fabricated back in 2007, IC Market is considered a classic foreign exchange brokerage of modern times. Based in Sydney, Australia, IC Market has gained a strong reputation for its commitment to providing the best trading experience possible. Regulated by the Australian Securities and Investments Commission (ASIC), this well-reputed brokerage is dedicated to serving market traders.
IC Market has gained a strong reputation over the years for its professionalism, transparency, and dedication to meeting the diverse needs of traders. Let's dive into what makes IC Market a trusted choice for traders worldwide.
IC Markets Pros & Cons
Pros
- Zero fees on Deposit & Withdrawal,
- Offer Ctrader & MT5,
- Live chat 24/7
Cons
- IC Markets doesn't offer any bonuses,
- Does not accept U.S. traders,
- Doesn't accept Bitcoin
IC Markets Account Types
| Accounts | Currencies | Min. deposit | Leverage | Starting Spreads | Demo Account | Rollover Free | Decimal Pricing | Commission per trade | Max. Lot Size Per Trade | Min. Lot Size Per Trade |
|---|---|---|---|---|---|---|---|---|---|---|
| cTrader Account | 61 | $200 | 1:1000 | 0.0 pips | Yes | No | $3.0 ($6.0 per lot roundturn) | |||
| Raw Spread Account | 61 | $200 | 1:1000 | 0.0 pips | Yes | No | $3.5 ($7.0 per lot roundturn) | |||
| Standard Account | 61 | $200 | 1:1000 | 0.8 pips | Yes | No | $0.00 |
Account Options
| Broker Type | Minimum Deposit | Forex Majors Spread | Maximum Leverage | Min. Trade Size | Scalping | Hedging | Free Demo | USA Traders |
|---|---|---|---|---|---|---|---|---|
| ECN | $200 | 0.1 | 500:1 | 0.1 micro lots | Yes | Yes | Yes | No |
IC Markets Trading Platforms, Fees & Regulation
IC Markets has gained widespread recognition in Australia and beyond for offering smart and innovative trading platforms that traders rely on with utmost comfort. Their trading platforms have become the go-to choice for traders in various regions.
Let's delve into a comprehensive overview of IC Markets' trading platforms:
MetaTrader 4 (MT4):
MT4 is an essential trading platform found in the arsenal of every brokerage, and IC Markets' version stands out as a reliable and customizable option. It boasts charting tools, EA support, and strategy back-testing capabilities. Moreover, it caters to clients worldwide with its multi-language support.
MetaTrader 5 (MT5):
MT5 represents a more innovative and technologically advanced trading platform, often considered the true successor to the classic MT4. With advanced trading charts, over 10 timeframes, EA availability, and more, MT5 offers an enhanced trading experience.
cTrader:
IC Markets exclusively provides the cTrader trading platform, recognized as one of the most innovative platforms in existence. Alongside automated trading support, cTrader is available for both desktop and mobile devices, offering flexibility to traders.
But wait, there's more!
With the cTrader platform, traders can choose between ZuluTrade and Myfxbook for utilizing Forex EA functionality.
Moreover, the cTrader platform offers:
- Extensive customization options and a wide range of charting tools.
- Access to substantial liquidity.
- Backtesting feature availability.
Mobile Trading:
IC Markets now offers mobile trading opportunities to traders worldwide. The mobile trading platform closely resembles the web version of MT4, ensuring a seamless trading experience.
And it gets even better!
The mobile trading platform is available for both Android and iOS devices. To access the platform, simply download it from the Google Play Store or the App Store and connect to IC's Live server.
Similar to the web version of MT4, the mobile trading app supports multiple languages. However, please note that changing the default language of your device may be required.
Overall, IC Markets' diverse range of trading platforms caters to the evolving needs of traders, providing convenience, functionality, and innovation across various devices and regions.
Source: brokerchooser.com
Regulation
- ( ASIC, CySEC, FSA )
Fees
- No
Platforms
- MT4, MT5, cTrader
IC Markets Top Features
IC Markets leaves no stone unturned when it comes to offering an extensive range of trading assets and instruments to its clients. While renowned for its wide selection of Forex trading instruments, IC Markets goes above and beyond by providing CFDs, indices, stocks, futures, metals, gold, cryptocurrencies, and more.
Let's take a closer look at the products offered by IC Markets:
- Forex: IC Markets grants access to over 90 trading currencies, setting itself apart with one of the most comprehensive Forex offerings among brokers.
- Commodities: Alongside Forex, IC Markets allows you to trade commodities, including futures.
- Metals: You can engage in trading precious metals through IC Markets.
- Indices: IC Markets offers the opportunity to trade on more than 12 international indices, such as FTSE 100 and NASDAQ.
- Gold: Trade XAU with your preferred currency through IC Markets.
- Cryptocurrencies: Enjoy access to trade popular cryptocurrencies like BTC, ETH, LTC, XRP, and more.
- CFDs: IC Markets presents a wide range of over 10,000 CFDs for trading.
And also, Stocks CFDs, Bond CFDs can be traded.
To unlock the exceptional advantages of IC Markets, join their platform without delay. Experience the vast array of trading options and seize opportunities in the financial markets.
IC Markets Compliance & Regulation
IC Markets stands out among brokerage firms as one of the thoroughly regulated entities in Australia, abiding by the highest standards set by ASIC (Australian Securities & Investments Commission). With a license number of 335692, IC Markets assures traders of its commitment to compliance and financial integrity.
In addition to ASIC regulation, IC Markets further enhances security measures by being a member of the Financial Ombudsman Service (FOS). This membership provides an added layer of protection and recourse for traders.
True ECN Trading Ltd is the rightful owner of IC Markets and holds regulations under the FSA (Financial Services Authority). This ensures that the operations of IC Markets are overseen by a reputable regulatory body, instilling confidence and trust in its services.
IC Markets Service Details
| Supported Languages | ENGLISH, INDONESIA, DEUTSCH, PORTUGUÊS, ESPAÑOL, FRANÇAIS, ITALIANO, РУССКИЙ, TIẾNG VIỆT, БЪЛГАРСКИ, HRVATSKI, 한국어, 简体中文, ไทย, 繁體中文 |
| Customer Service By | Live Chat, Email, Call |
| Service Hours | 24/7 |
| Email Response | Yes |
IC Markets Trading And Investment Tools
| One Click Trading | Yes |
| Stop Order | Yes |
| Limit Order | Yes |
| Trade off Charts | Yes |
| Market Order | Yes |
| 24hr Trading | Yes |
| Email Alerts | Yes |
| Trailing Stop Order | Yes |
| Charting Package | Yes |
| Mobile Alerts | Yes |
| OCO Orders | Yes |
| Streaming News Feed | Yes |
IC Markets Pricing
IC Markets offers a diverse range of account options to accommodate the preferences of different traders. Whether you are a beginner or an experienced professional, IC Markets has a suitable account type for you.
IC Markets Standard Account
The IC Markets Standard Account is designed for traders who prefer fixed spreads. It offers competitive spreads starting from 1.0 pips and provides access to a wide range of trading instruments. With this account type, traders can enjoy the benefits of fast execution, deep liquidity, and no commission charges.
IC Markets Raw Spread Account
For traders who value tight spreads and low latency, the IC Markets Raw Spread Account is an excellent choice. This account type offers raw spreads starting from 0.0 pips, making it ideal for scalpers and high-frequency traders. With the Raw Spread Account, traders gain direct market access with no dealing desk intervention.
IC Markets cTrader Account
The IC Markets cTrader Account is specifically designed for traders who prefer the cTrader platform. This account type provides traders with enhanced trading capabilities, including Level II pricing, advanced charting tools, and algorithmic trading options. The cTrader Account offers competitive spreads and low commission charges, making it suitable for active and algorithmic traders.
IC Markets Islamic Account
IC Markets understands the unique needs of Muslim traders and thus offers the Islamic Account, which is compliant with Sharia law. This account type is swap-free, ensuring that no overnight interest charges are applied. Traders with religious considerations can trade in accordance with their beliefs while enjoying all the benefits of IC Markets' trading environment.
IC Markets Demo Account
If you are new to trading or want to test your strategies without risking real money, the IC Markets Demo Account is the perfect solution. This account type provides a simulated trading environment with virtual funds, allowing traders to practice and familiarize themselves with the platform. It is an invaluable tool for learning and honing trading skills.
| Account Type | Spreads | Commissions | Trading Platforms | Trading Instruments |
|---|---|---|---|---|
| Standard Account | Fixed | None | MT4, MT5 | Forex, CFDs |
| Raw Spread Account | Raw | Low | MT4, MT5 | Forex, CFDs |
| cTrader Account | Variable | Low | cTrader | Forex, CFDs |
| Islamic Account | Fixed | None | MT4, MT5 | Forex, CFDs |
| Demo Account | Simulated | None | MT4, MT5, cTrader | Forex, CFDs |
Deposit and Withdrawal Options:
When it comes to depositing funds into your trading account, IC Markets has you covered with a variety of options and accepts numerous currencies, including USD, CAD, AUD, GBP, NZD, SGD, JPY, CHF, and HKD.
Furthermore, the range of deposit methods offered by IC Markets is quite impressive. You can make deposits using Debit and Credit cards, Broker to Broker transfers, BPay Deposits, Neteller, Skrill, Branch Cash Deposits, QIWI, WebMoney, FasaPay, and China Union Pay.
Please note that these same transaction methods can also be used for withdrawals, providing convenient flexibility.
Now, let's talk about the withdrawal process. IC Markets typically process withdrawals within one day, although occasionally, it may take longer depending on the prevailing political and economic circumstances. It's important to be aware that the cost per withdrawal is 25 AUD or the equivalent amount in your chosen currency.
Rest assured, IC Markets strives to ensure smooth and efficient deposit and withdrawal experiences, empowering traders with seamless financial operations.
Deposit Methods
Withdrawl Methods
FAQ Section
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.
IC Markets User Experience
IC Markets prioritizes reliable and dedicated customer support, ensuring their clients receive assistance around the clock, regardless of their location.
For any inquiries or assistance, you can reach out to them via +248 467 19 76 (international charges may apply) or send an email to support@icmarkets.com. Additionally, you have the option to engage with their customer support representatives through live chat for real-time assistance.
Research & Education:
IC Markets understands the importance of empowering traders with knowledge and provides a diverse range of educational materials. These resources aim to equip traders with the fundamentals of the foreign exchange industry. Some of the educational offerings include:
- Trading e-books
- Platform tutorial videos
- Webinars covering various trading-related topics
- High-quality blog posts and much more!
Through these educational materials, IC Markets supports traders in expanding their understanding of the markets, enhancing their trading skills, and making informed decisions.
With a strong commitment to customer support and a focus on education, IC Markets aims to empower traders with the necessary tools and knowledge to thrive in the dynamic world of trading.
Conclusion:
IC Markets strives to revolutionize the trading landscape, delivering an unparalleled experience to both retail and institutional clients. Our unwavering commitment lies in empowering traders to immerse themselves fully in their trading endeavors. With a foundation laid by seasoned traders, IC Markets pledges to provide unmatched spreads, flawless execution, and top-notch service. Their aim is to redefine the industry standards and redefine your trading journey.
IC Markets offers a range of account types designed to cater to diverse trading requirements. Whether you prefer fixed spreads, raw spreads, the cTrader platform, or have religious considerations, IC Markets has an account type that suits you. By choosing the right account, you can enhance your trading experience and take advantage of the features that matter most to you.
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User Reviews
Our User Reviews Section is a great way to learn more about our brokers and services from people who have already used them. We encourage our customers to leave honest feedback about their experiences, so that you can make an informed decision about whether or not to purchase from us.
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