IC Markets

IC Markets Overview

IC Markets is a prominent Forex trading company founded in 2007 by a team of financial professionals in Sydney, Australia. With a mission to bridge the gap between retail and institutional clients, IC Markets provides an ECN trading environment with ultra-tight spreads starting from 0 pips, sourced from over 50 liquidity providers and dark pool liquidity sources across 60 forex pairs.

Global Presence and Expansion

IC Markets has established itself as a leading trading provider in Australia, maintaining its headquarters there while expanding its services internationally and to European entities. Additionally, the company has established a Chinese support center and offers highly competitive trading conditions.

CFD Brokerage and Execution

IC Markets is also a CFD broker, utilizing fiber optic connections to deliver lightning-fast execution speeds and low latency, ensuring traders’ orders are seamlessly transmitted to the market via servers located in the NY4 & LD5 IBX Equinix Data Centers in New York and London. However, instrument availability and execution may vary depending on the specific instrument being traded.

IC Markets: Pros and Cons

IC Markets is a well-respected broker with a strong reputation, offering a diverse selection of trading platforms, including MT4, MT5, and cTrader, along with high-quality education resources provided at no cost and 24/7 customer support. The broker also provides a choice between spread-based and raw spread accounts and supports a wide range of trading instruments, making it a suitable choice for a variety of traders.

One potential drawback is that trading proposals and conditions may vary depending on the regulatory entity, with offshore entities typically offering more flexibility. Additionally, some spreads for certain instruments may be higher than the average offered by other brokers.

IC Markets: A Top Choice for Forex Traders

IC Markets stands out as an exceptional choice among Forex brokers, garnering high praise from our expert reviewers. Its competitive trading conditions and low fees make it an appealing option for traders of all levels, particularly those engaged in high-volume trading, scalping, and the use of Expert Advisors or trading robots. The absence of a dealing desk ensures transparent pricing and a seamless trading experience.

IC Markets: A Reputable Broker with a Few Caveats

IC Markets is a well-established Forex broker that has earned a reputation for safety and reliability. It is regulated by two top-tier financial authorities, the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). This means that IC Markets is subject to strict oversight and regular audits, ensuring that its clients’ funds are protected.

IC Markets’ Key Strengths:

• Regulated by ASIC and CySEC
• Global coverage and years of operation
• Professional Indemnity Insurance

IC Markets’ Minor Weaknesses:

• International trading is only available through its offshore entity
• It is advisable to thoroughly check the terms and conditions for offshore trading

Overall, IC Markets is a safe and reliable broker with a proven track record. However, it is important to be aware of the limitations of its offshore trading options. If you are considering trading with IC Markets, we recommend that you carefully review the terms and conditions for offshore trading before making any decisions.

IC Markets: A Legally Operating Broker with Robust Regulatory Oversight

IC Markets is a well-established and reputable Forex broker that adheres to strict regulatory standards. Its Australian entity is licensed and regulated by the Australian Securities and Investments Commission (ASIC), renowned for its stringent regulatory requirements. Additionally, IC Markets maintains a regulated entity in Cyprus, enabling it to legally offer trading services to European clients.

IC Markets’ commitment to regulatory compliance instills confidence among its traders. ASIC’s rigorous oversight ensures that client funds are securely protected through measures such as client money segregation, ensuring that funds are held separately from the broker’s own funds and can only be accessed by the client for trading purposes.

Furthermore, IC Markets’ membership in the Financial Ombudsman Service (FOS) provides an additional layer of protection for traders. FOS is an independent external dispute resolution scheme that impartially resolves disputes between consumers and member financial services providers. This membership demonstrates IC Markets’ dedication to resolving customer issues fairly and efficiently.

In conclusion, IC Markets operates legally and adheres to robust regulatory frameworks in both Australia and Cyprus, providing traders with a secure and compliant trading environment.

Leverage

IC Markets offers leverage based on the entity you trade with. Leverage is a loan given by the broker to the trader to enable trading with a bigger capital and increase potential gains. However, it is important to remember that losses can also exceed your initial deposit.

Leverage for Australian Clients

The maximum leverage available for Australian clients is 1:30. This means that for every $1 you deposit, you can trade $30 worth of Forex.

Leverage for European Traders

The maximum leverage available for European traders is also 1:30. This means that for every €1 you deposit, you can trade €30 worth of Forex.

Leverage for International Traders

International traders can access leverage up to 1:500. This means that for every $1 you deposit, you can trade $500 worth of Forex.

Leverage Recommendations

While leverage can magnify gains, it can also magnify losses. It is important to use leverage wisely and to set your leverage level appropriately for your trading strategy and risk tolerance.

IC Markets’ Leverage Regulations

IC Markets’ leverage offerings are subject to the regulations of the entity that you trade with. For example, the maximum leverage for Australian clients is limited to 1:30 due to ASIC regulations.

It is always important to read and understand the risks of using leverage before trading. You can find more information about leverage on the IC Markets website.

Account Types

IC Markets offers a selection of three main account types, each tailored to suit specific trading styles and preferences, while providing the same robust features and trading capabilities. The first two account types offer raw spreads and a commission charge per trade, with the option of using either the MT4 or cTrader platform.

Account Type Options:

1. Standard Account: This account is suitable for traders who prefer a commission-free trading experience. It offers competitive spreads, starting from 1 pip.
2. Raw Spread Account: This account is designed for experienced traders who seek the tightest possible spreads. It offers raw spreads, starting from 0 pips, but charges a commission of $7 per round turn.
3. cTrader Raw Spread Account: This account is similar to the Raw Spread Account but utilizes the cTrader platform, which offers advanced order types and risk management tools.

Account Type Advantages:

• Fast Account Opening: IC Markets offers a streamlined account opening process, allowing traders to start trading quickly.
• Fully Digital: The entire account opening and management process is conducted electronically, ensuring convenience and efficiency.
• Good Options for Diverse Trading Styles: IC Markets’ account types cater to various trading styles, from commission-free trading to raw spreads and advanced order types.
• Spread Only or Raw Spread Accounts: Traders can choose between spread-only or raw spread accounts, depending on their preference for commissions or tighter spreads.
• Micro Account and Islamic Account: IC Markets offers a micro account for traders who want to start trading with smaller amounts, as well as an Islamic account for traders who adhere to Sharia principles.
• 10 Account Base Currencies: Traders can choose from 10 base currencies for their accounts, providing flexibility for managing their trading funds.

Account Type Considerations:

• None: There are no significant drawbacks to IC Markets’ account types. The choice between account types depends on individual trading preferences and risk tolerance.

Overall, IC Markets’ account types offer a comprehensive range of options to suit various trading styles and preferences, providing traders with the flexibility and control they need to execute their trading strategies effectively.

Trading Instruments

IC Markets provides a diverse range of trading instruments to cater to the needs of various traders, encompassing major instruments as well as emerging assets like cryptocurrencies. The asset classes available for trading include:

• Foreign Exchange (FX): IC Markets offers a wide selection of major, minor, and exotic currency pairs, providing access to global forex markets.
• Equities: Traders can access a variety of stocks from major stock exchanges around the world, including the New York Stock Exchange, NASDAQ, and London Stock Exchange.
• Commodities: IC Markets offers a diverse range of commodities, including precious metals, energy, and agricultural products, enabling traders to speculate on the price movements of these commodities.
• Futures CFDs: Traders can speculate on the future prices of commodities, indices, and currencies through futures CFDs, offering exposure to these markets without the need to own the underlying assets.
• Stocks CFDs: Traders can gain exposure to the performance of individual companies without the need to purchase physical shares through stocks CFDs.
• Bonds CFDs: Traders can speculate on the price movements of government and corporate bonds through bonds CFDs.

IC Markets’ Crypto Trade:

IC Markets offers trading pairs with major cryptocurrencies, including Bitcoin, Ethereum, Dash, Litecoin, Bitcoin Cash, and Ripple. Traders can go long or short on these cryptocurrencies with a leverage of 1:5 and a margin requirement of 20%. The minimum lot size is 0.01.

IC Markets’ Instrument Score:

IC Markets receives a Trading Instrument Score of 7 out of 10 for its comprehensive range of trading instruments, with a particular focus on Forex and CFDs. The specific instruments available may vary depending on the trading entity.

Overall, IC Markets’ extensive selection of trading instruments provides traders with ample opportunities to diversify their portfolios and pursue various trading strategies.

Fees

IC Markets’ fee structure varies depending on the account type, trading platform, and jurisdiction. However, it generally offers competitive trading fees, with overall ratings of 8 out of 10 for Fees and Spreads.

Deposit and Withdrawal Fees:

• Deposit Fee: No fee for most deposit methods.
• Withdrawal Fee: No fee for most withdrawal methods.

Inactivity Fee:

• Inactivity Fee: No inactivity fee for standard accounts.

Trading Fees:

• Standard Account: Spread-only pricing with spreads starting from 1.0 pips.
• True ECN Account (Raw Account): Micro lot trading from 0.01 size, ECN spreads from 0 pips, and a commission of $3.50 per 100k traded.
• cTrader ECN Account: Similar features as the MT4 True ECN Account, with spreads starting from 0 pips and a commission of $3.00 per 100k traded.

Spreads:

IC Markets’ spreads are generally among the lowest in the industry. For example, the EUR/USD spread starts from 1 pip, the Crude Oil WTI spread starts from 5 pips, and the Gold spread starts from 1 point.

Overnight Fee:

IC Markets charges an overnight fee, also known as a swap rate, on positions held overnight. The fee is determined by the overnight interest rate differential between the two currencies involved in the pair and whether the position is a buy (long) or sell (short).

IC Markets’ fee structure is considered low overall and offers competitive spreads for currency trading. However, it is important to check the specific fees and conditions applicable to your trading entity and account type.

Source

Deposits and Withdrawals

IC Markets offers a wide range of flexible deposit and withdrawal options, including 10 major base currencies. With no deposit fees and free withdrawals, IC Markets is a great choice for traders of all levels.

Here are some of the key advantages of IC Markets’ funding methods:

• No deposit fees: This means you can start trading with IC Markets without having to pay any upfront costs.
• Free withdrawals: You can withdraw your funds from your IC Markets account at any time without paying any fees.
• Wide range of payment methods: IC Markets supports a wide range of payment methods, including credit cards, debit cards, bank transfers, and e-wallets.
• Numerous base currencies: IC Markets supports 10 major base currencies, so you can choose the currency that is most convenient for you.

Deposit Options

• Cards,
• PayPal,
• Bank Transfer including local ones,
• Neteller, Skrill, WebMoney, Qiwi,
• China UnionPay, FasaPay and more.

IC Markets Minimum Deposit

The minimum deposit for an IC Markets Standard Account on MetaTrader4 is $200. IC Markets also offers two other account types. See our fee summary below.

IC Markets Minimum Deposit vs. Other Brokers

Broker	Minimum Deposit
IC Markets	$200
Most Other Brokers	$500

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Withdrawals

IC Markets allows withdrawals using popular methods such as bank transfer, WebMoney, cards, and e-wallets. IC Markets does not charge additional fees for deposits and applies a $0 fee for withdrawals. However, for international bank wire withdrawals, IC Markets passes on the transfer fees charged by the company’s banking institution, which is approximately AUD20, which is deducted from the amount of your withdrawal.

How Long Does It Take to Withdraw Money from IC Markets?

The processing time for withdrawals varies depending on the payment method used. IC Markets’ accounting team typically confirms transactions within 1-2 business days.

Platforms for Trading
MetaTrader 4 and cTrader are two of the best trading platforms on the market right now, so IC Markets has both options in their direct access to provided ECN trading environment. This is in addition to the sophisticated technical optimization of the execution provided by leading technologies.

Customer Service
In addition to providing the best technology solutions, IC Markets recognizes the value of providing excellent customer service and support. With customer offices operating in multiple locations, broker support is accessible around the clock, ensuring that teams can receive assistance or answers from IC Markets.

Markets Education in IC
The IC Markets staff knows exactly what traders need and want because they have a great deal of experience in the forex market. Free educational resources are offered, enabling users to gain a thorough understanding of the subject through webinars, technical analysis reports, video tutorials, and other resources.

In addition, IC Markets has established a Market analytical Blog, an Economic Calendar, and trading ideas that are accessible through platforms. These research tools, along with the many built-in analytical tools inside the platforms, enable novice and professional traders to obtain excellent tools.