3.45 35 Reviews
3.45

IC Markets Review Summary

IC Markets was founded in Melbourne, Australia, in 2007 by a team of financial professionals who aimed to fill the gap between retail and institutional clients providing trading solutions. Recently, the broker is becoming one of Australia's leading trading suppliers and is also expanding beyond the reach of international and European markets, creating a Chinese support center and offering genuinely fair trading conditions. IC Markets is an ECN trading environment provider that offers true spreads of 0.0 pips from liquidity suppliers from over 50 separate banks and dark pool liquidity outlets across 60 forex pairs. IC Markets is an option for high-volume traders, scalpers, EA traders and robots that can enjoy no dealing desk with no manipulation at the prices. The execution provides pace and low latency via fiber-optic links traders' orders to the NY4 & LD5 IBX Equinix Data Center New York and London market.

IC Markets Review Highlights

Trading Platform: MT4, MT5, cTrader platforms
Cryptocurrencies Yes
Regulator ASIC, CySEC
Minimum Initial Deposit 200 US$
Leverage 1:500

Pros & Cons

Pros
  • Entirely regulated broker
  • Wide range of trading options, dealing in CFD
  • Raw spreads and regular accounts
  • Platforms MT4, MT5 and cTrader
  • Free-Based Education
  •  Support 24/7
Cons
  • The plan for trading and the conditions change according to the Regulation
  • Offshore companies
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IC Markets Review

Where is IC Markets?

IC Markets was founded in Melbourne, Australia, in 2007 by a team of financial professionals who aimed to fill the gap between retail and institutional clients providing trading solutions. Recently, the broker is becoming one of Australia’s leading trading suppliers and is also expanding beyond the reach of international and European markets, creating a Chinese support center and offering genuinely fair trading conditions.

What kind of broker is IC Markets?

IC Markets is an ECN trading environment provider that offers true spreads of 0.0 pips from liquidity suppliers from over 50 separate banks and dark pool liquidity outlets across 60 forex pairs. IC Markets is an option for high-volume traders, scalpers, EA traders, and robots that can enjoy no dealing desk with no manipulation at the prices.

The execution provides pace and low latency via fiber-optic links traders’ orders to the NY4 & LD5 IBX Equinix Data Center New York and London market.

Is IC Markets safe or is it a scam?

IC Markets is considered to be a safe broker, as the licensed and regulated trading companies are constantly supervised and audited by the competent external authority.

Is IC Markets legal?

IC Markets is the broker registered in Australia and does its business under the Australian Securities and Investments Commission (ASIC) license. Additionally, IC Markets operates a regulated agency in Cyprus and thus officially and legally operates a trading service for European clients.

With an ASIC license and regulation that is one of the strictest and most stringent financial regulators, IC Market traders should feel absolutely comfortable. Money protection provided by multiple regulated means and includes client money separation, while accounts accessed only by the client and used for the purpose of facilitating their own trading.

In addition, IC Markets is a member of the Financial Ombudsman Service (FOS), an authorized Australian external dispute resolution scheme that addresses conflicts between customers and member financial service providers equally and independently.

Leverage

IC Markets offering up to 1:500 leverage that opens the door to the forex market for retail traders with a fairly low or small initial deposit. Using the leverage can maximize gains, but you should also note that losses will also surpass your initial deposit.

  • Max of 1:500 available for Australian clients
  • 1:30 allowed for European traders
  • 1:500 for an international proposal

Leverage is defined as a loan provided by the broker to the trader to allow the selling of greater capital and to increase future profits. However, we would recommend that any trader use the tool smartly and carefully read how to set up the correct leverage for a particular instrument or trading strategy, as well as the leverage defined by the IC Markets entity and specific jurisdiction regulations.

Accounts

There are choices either based on ECN connectivity with raw spread and commission as a trading fee, or Standard conditions with all fees in the spread.

Types of account

There are 3 main account types that have the same flexibility and power but are tailored to meet the requirements and needs of various trading styles. Two first account offering a raw spread condition and a commission charge per trade also offers the cTrader MT4 platform for your selection.

Accounts are available in multiple currencies, up to 10 are fully segregated from company funds and supported by a multi-lingual customer team. In addition, traders who follow Sharia rules may also sign a Swap-free or Islamic account as an option on IC Markets, along with a risk-free trial account on both MT4 and cTrader that enables a trading strategy practice.

Fees

So now let’s test the difference between trading fees on the different accounts, as the fees vary slightly depending on the type of account and the platform you use. Also, note that different IC Markets entities in different jurisdictions that apply their own trading conditions, so be sure to check it out as well.

Forex fees

The Standard Account has been enabled via MetaTrader4 with CNS VPS Cross-Connect and spreads only on a 1.0-pips basis. While the True ECN or Raw Account makes micro lot trading of a size of 0.01, deep institutional liquidity, the ECN spreads from 0 pips and the fee of $3.50 per 100k traded at MT4.

Spreads on average EURUSD at around 0.1 pips 24/5, which is currently the tightest average EURUSD spread globally, as per IC Markets expert advisors.

cTrader ECN account offering approximately the same features as MT4, but with the difference in the platform used by mostly larger professional traders. The relevant spread also starts at 0.0 pips and a fee of $3.00 per 100k exchanged to be carried out via Equinix LD5.

Overnight Fee

IC Markets overnight fee or premium swap rate calculated by the overnight interest rate differential between the two currencies involved in the pair and whether the price is ‘long’ or ‘short’ purchase. Initially, the fee varies from one currency to another, but you should always bear in mind its presence, which may carry you either a negative or a plus to your account.

Trading Instruments

The business portfolio offers a variety that fits the needs of any trader and offers big trading instruments, along with new developments such as Cryptocurrencies. The asset classes are FX, Equity, Commodities, Futures CFDs, Stocks and Bonds. IC Markets Crypto exchange provides trading pairs of Bitcoin, Ethereum, Dash, Litecoin, Bitcoin Cash, and Ripple, which allows long or short leveraging with a 1:5 spread of 20 percent and a minimum lot of 0.01.

Deposits and Withdrawal

IC Markets offers 10 flexible financing options in 10 major basic currencies AUD, GBP, JPY, HKD, SGD, NZD, CHF, CAD, EUR, USD. That’s great because you can choose the right one for you and avoid additional conversion fees.

Tools for Deposit

There is a capacity to deposit or withdraw funds from the secure client area throughout

  • Cards
  • Paypal,
  • Transfer of banks, including local ones,
  • Neteller, Scrill, WebMoney, Qiwi,
  • China UnionPay, FasaPay, and more.

What is the minimum deposit for IC Markets?

The Standard Account enabled by MetaTrader4, along with the other two types of accounts available at IC Markets, is set to start with a minimum deposit of $200.

Withdrawals

IC Markets will not charge any extra deposit fees or charge $0 for withdrawals. However, for International Bank Wire withdrawals, IC Markets shall pay the transfer fees charged by the company banking institution, which is approximately AUD20, which shall be deducted from the amount of your withdrawal.

However, make sure that your payment provider has transaction fees that may incur on payments to and from certain international banking institutions.

How long does it take to withdraw money from IC Markets?

Various payment methods can process the withdrawal of money within its specified period, while IC Markets’ accounting department can validate transactions relatively quickly within 1-2 business days.

Platforms for trading

Apart from the sophisticated technological optimization of the execution offered by the leading technologies, IC Markets also offers innovative software proposals. MetaTrader 4 and cTrader are two of the best trading platforms available on the market today, and IC Markets have both options in terms of their direct exposure to the ECN trading environment offered.

Nonetheless, you can still trade via MetaTrader5 an enhanced and improved edition that is filled with brand new features.

Platform for Desktop

There’s no need to talk long about the features of the site, as each and every one of them has strong trading features. Every platform that available in various versions is ideal for use either via the Web Platform or directly from your browser, or you can install the Desktop version and enjoy complete MetaTrader or cTrader customization.

Overall, IC Markets truly takes trading to the next level with robust tools, enhancements and extensions to platforms such as a one-click trading app, market scope, spreadsheet dashboard, business risk calculator and advanced order types not previously available on MetaTrader 4.

Mobile Platforms

Mobile Apps are also available and are very useful for modern traders to stay up-to-date on market conditions. MT4, MT5 and cTrader are also available via Android or iOS devices, enabling account management and position control.

Auto Trading

In addition, Auto trading is compatible with all broker platforms, EAs on the MT4 or MT5 myfxbook on the cTrader platform and, in addition, ZuluTrade. ZuluTrade is one of the best social trading platforms from among thousands of talented traders.

In addition, if you are prepared to enter into a relationship with the broker, the MAM and PAMM multi-account management systems provide versatile and easy-to-use resources. FIX API offers a great opportunity for high-volume traders, while VPS (Virtual Private Server) facilitates a range of automated trading strategies with the possibility of free use of VPS (if the required minimum volume of 15 round turn (FX) lots per calendar month is reached).

Customer Support Services

IC Markets aims not only to deliver the latest technical solutions but also understands the necessity for good customer service and support. Broker service is available 24/7 and maintains customer offices in various countries, allowing IC Markets ready to respond or assist teams around the globe.

Education

Finally, the IC Markets team has a huge amount of experience in the forex industry, and it knows what traders want and need. Educational resources are offered on a charge-free basis and allow a clear understanding of the subject through frequent technical review reports, video tutorials, instructional tools, webinars and more.

Testing tools are also available, including a range of built-in platform-based research tools, as well as IC Markets’ Market Research Page, Economic Calendar and platform-based trading ideas.

Conclusion

As a general impression, IC Markets has brought a truly advanced trading offering. You can choose from a wide range to tailored trading parameters, trading instruments, platforms to use, accounts to open, use auto trading or social trading, or even become a partner. Indeed, IC Markets’ technological optimization is among the best in terms of implementation, process optimization, selection of resources and support.

Along with a true ECN and a very aggressive pricing policy focused on spread only or with the lowest spreads plus commission per deal, the broker offers a wide variety of markets to choose from, as well as a large Cryptocurrency offering. All that is available and fully customized with the IC Markets broker.

Alternative forex brokers that you can test are FP Markets from Australia with an ECN account deal.

Official IC Markets Review Registration

Founded: 2007
Broker Type: ECN trading
Languages Supported: EN, ZH, JA, EL, IT, FR
Trading Instruments: FX, Equities, Commodities, Futures CFDS, Stocks
Account Types: Multiple currencies, up to 10
Expert Advisors: Yes
Social Trading: Yes
Hedging: Yes
Scalping: Yes
Commission: 3.50$ per 100k
Inactivity Fee: N\A
Swap-Free Account: Yes
Mobile Apps: Yes
Demo Account: Yes
Prohibited Countries: United States, Canada, Zimbabwe, Iran, Iraq, Ghana, Cote D'Ivoire, Cuba, Liberia, Niger, Togo
Trading Fees: Yes
Withdrawal Fees: N/A
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IC Markets Reviews

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