Overview of the Company
It is one of the global online forex trading brokers that have been operational since the year 2007. The brokerage is based in Sydney, Australia, and specializes in providing access for retail traders interested in a variety of financial markets such as forex, commodities, indices, and cryptocurrencies. IC Markets are widespread among the traders' community who recognize the transparency in prices, tighter spreads, and better trading tools, from rookies and professionals alike.
Pros and Cons
Pros
- Stable raw spreads (0.06 pips on avg on EUR/USD
- Low-latency trading environment
- Institutional level liquidity
- MT4, MT5, cTrader platforms are all available
- Great for algorithmic strategies
- Social trading app available
Cons
- Small amount of educational tools for new traders
- Small range of tradable assets compared to other CFD/Forex brokers
Security and Regulation
A multi-regulated forex broker with these high regulators for security and transparency:
- Australian Securities and Investments Commission (ASIC) in Australia
- Financial Services Authority, Seychelles
- Cyprus Securities and Exchange Commission in the EU.
Client funds are kept in separate accounts with top-tier banks to provide further security. In the absence of foul play or money laundering activities, the broker maintains very strict regulations of anti-money laundering mixed with Know-Your-Customer features.
Tradable Instruments
The total tradable instruments in IC Markets are:
- Forex: The most major, minor, and rare currencies worldwide.
- Commodities: Gold and silver among other treasures, and gas or oil feeds present solid asset classes.
- Indices: These are indices like S&P 500 and FTSE 100 and DAX from different global cities.
- Cryptocurrencies: The conventional cryptocurrencies include Bitcoin, Ethereum, and Litecoin.
- Stocks: Forex on shares of the various top world companies.
Account Types
Raw Spread
| Minimum deposit | 0 |
|---|---|
| Commission | 0.7 |
| Available tools | 0 |
| Leverage, min | 1:20 |
| Leverage, max | 1:30 |
| Margin call level | 100 |
| Stop-out level | 50 |
Standard
| Minimum deposit | 0 |
|---|---|
| Commission | 0.7 |
| Available tools | 0 |
| Leverage, min | 1:20 |
| Leverage, max | 1:30 |
| Margin call level | 100 |
| Stop-out level | 50 |
Fees and Commissions
This is composed of a very competitive fee system in place with the following components:
- The trading charges: $3.50 is charged as a commission per side in a lot to a raw spread account, but in a standard account, there is no commission, but the spread is broader.
- Non-Trading Fees: No inactivity fee, but applicable withdrawal methods can incur fees.
Trading Platforms
| Available tools | Forex, Stock CFDs, Cryptocurrencies, Indices, Commodity CFDs, metals, ETF, Futures, energy |
|---|---|
| Cryptocurrencies | ETH, DOGE, BTC, LTC, BTC Cash, XRP, DASH, EOS, DOT, XLM, LINK, XTZ, UNI, ADA, BNB, AVAX, MATIC, Moonbeam, Kusama |
| CFD | Forex: 61 Soft Commodities: 22 Stocks: 2100 Indices: 25 Bonds: 11 Cryptocurrency CFD: 21 Futures CFD: 4 |
Leading trading platforms which a client could use on IC Markets include the following:
- MetaTrader 4 (MT4): An all-time classic forex and CFD trading platform with very strong analytical tools.
- MetaTrader 5 (MT5): A step ahead of MetaTrader 4 and usually comes with more features including more versions of orders and instruments features.
- cTrader: One of the modern platforms designed for ECN trading with ultra-fast execution speed and advanced charting tools.
Customer Support
Customers can obtain 24/7 support advising in languages through:
- Live Chat: Immediate response inquiries.
- Email: 24-hour reply.
- Phone: Straight contact options of support agents for emergency purposes.
Account Opening Process
Opening your account cannot be too difficult using IC Markets:
- It is simple to fill in personal and financial details in the site's online registration form.
- Identification proofs have to be flashed for KYC confirmation.
- Deposit to begin using payment mode support that the broker renders to its clients.
Deposits and Withdrawals
These payment options are supported at IC Markets:
- Bank Transfers
- Credit Card
- E-wallets support systems: PayPal, Skrill, Neteller
Deposits are very prompt while withdrawal takes between one and three days depending on the medium used in the transaction.
Frequently Asked Questions:
Is IC Markets regulated broker?
Yes, IC Markets is regulated by ASIC, FSA, and CySEC, which are quite popular standards for ensuring protection of clients' funds under international standards.
What trading platforms does it provide?
IC Markets provides MetaTrader 4, MetaTrader 5, and cTrader on desktop, web, and mobile platforms for trading.
What is the minimum amount you must deposit to open an account with them as a broker?
The minimum deposit for opening an IC Markets account is $200.
What leverage they offer as their maximum leverage?
IC Markets offers leverage of up to 1:500 depending on the assets and jurisdiction.
Methodology:
This review faces a deep analysis of IC Market's services acquired with its initial testing of platforms. Review of regulatory compliance compared to other operators. The sources include the website of the broker as well as reviews of users and independent financial research.