IC Markets Review
Founded in : 2007
Headquarters : Sydney
Regulation : ASIC and FOS
Platforms : MT4, MT5, cTrader, ZuluTrader
Leverage : 1:500
Minimum Deposit : USD$200
Who are IC Markets?
IC Markets was established in Sydney, Australia in 2007, by a team of financial analysts. Their main purpose is to connect retail and institutional traders, and offer them trading solutions tailored to their preferences. IC Markets has expanded to become one of the leading trading providers in Australia, and they provide their services to a Chinese Support center. They provide an array of trading instruments to trade with, along with the addition of crypto-currencies. The trading instruments are FX, Commodities, Stocks, Equities, Bonds, and Futures. IC Markets crypto-currency trade allows trading pairs with Bitcoin, Dash, Bitcoin Cash, Ripple, Ethereum, and Litecoin. They permit long or short with a leverage level of 1:5 margin of 20% and the minimum lot is 0.01.
IC Markets is an Electronic Communications Network trading provider that allows true spreads from 0.0 pips from various liquidity suppliers from fifty different banks. They also allow dark pool liquidity sources throughout sixty Forex pairs. Many high volume traders, scalpers, EA traders, and artificial intelligence will benefit more from IC Markets; this is because there are no deal desks and there is no manipulation in the prices. The execution brings high speeds and low latency through fiber-optic those link traders’ requests to the market by attendants in the NY4 and LD5 IBX Equinix Data Center New York and London.
IC Markets attempts to provide the best technological solutions, along with understanding the crucial aspects of top-of-the-line customer service and technical support. Their staff has long-term experience in the Forex industry; that is why they understand want and what they need exactly.
IC Markets Licenses and Regulations: Is it Safe or a Scam?
IC Markets is a safe broker, as the financial regulatory agencies are constantly monitoring and inspecting brokerage firms to keep them regulated. With IC Markets, since the broker is headquartered in Australia, their main license is the Australian Securities and Investments Commission (ASIC) license. Furthermore, the ASIC is one of the strictest and most challenging of financial regulators, which is why traders of IC Markets will have nothing to worry about. The extra layer of protection that is provided to the clients’ funds and personal information is proof of their credibility; they also keep clients’ funds restored in segregated accounts as per the regulations of the jurisdictions that they abide by. The trading accounts are accessed by the client only and they are utilized for the purpose of making it easier for clients to trade.
Along with the ASIC, IC Markets is a member of the Financial Ombudsman Service (FOS); they are an Australian conflict resolution corporation that autonomously and justly resolves conflict that occurs between clients and financial service providers.
IC Markets Trading Platforms
Apart from the refined technical optimization of the execution provided by primary technologies, the IC Markets provides advanced software proposals too. MetaTrader4 and cTrader are considered to be two of the leading trading platforms available in the market today, hence IC Markets have the option in their direct access to offered ECN trading environment. Nevertheless, clients can still trade through MT5, which is an updated and improved version that is filled with new features, as an option.
Automated trading is attuned with all broker’s platforms, EAs at MT4 or MT5 MyFXBook at cTrader platform. ZuluTrade is also an available on IC Markets, as well. ZuluTrade is considered to be one of the leading social trading platforms that give traders access the option to find thousand of talented traders; it also allows traders to track their trading signals free of charge.
Furthermore, traders who are willing to partner with the brokerage firm, there is an offer by MAM and PAMM multi-account administration systems that are easy-to-use and flexible tools. FIX API gives great opportunity for high volume traders. VPS, on the other hand, gives access to traders an array of automated trading strategies, along with the possibility to use VPS for free.
In conclusion, IC Markets truly takes trading up a notch with its comprehensive tools, additions, and extensions to the trading platforms. These extensions include a one click trade module, trade risk calculator, spread monitor, and advanced order types, which was not available on MT4.
Trading Fees and Conditions
With the Standard Account accessed through MetaTrader4 with CNS VPS Cross-Connect and spread with the basis from 1.0 pips. The True ECN account enables micro lot trading from 0.01 sizes, high institutional grade liquidity, ECN spreads from 0 pips and commission of 3.50 dollars for every one hundred thousand traded at MT4, as well. Spreads on EURUSD averages at 0.1 pips for twenty four hours for five days, which is considered the tightest average EURUSD spread on a global account.
cTrader ECN Account provides approximately the same feature as MT4, but with the difference of the platform is that it used by professional and expert traders. The spread executed also begins at 0.0 pips and commission of 3.00$ per one hundred thousand traded that serves application through Equinix LD5. IC Market also has an overnight fee that is determined by the overnight interest rate discrepancy between the two currencies involved in the pair and what the position is. The fee originally varies from one currency to another, but traders should remember that overnight fees can be both positive and negative to their trading account.
IC Markets Trading Accounts
With IC Markets, there are three types of trading accounts that have similar structures and authority offered by the brokerage firm. However, they are all designed to be tailored to the different trading styles of different traders. The trading accounts are available in multiple currencies, ten in all, and they are all isolated from the firm’s funds; they are all sustained by a customer service staff, which are skilled with multiple languages. There is also the option of a Swap Free, or known as the Islamic Account, for traders who follow the Shariah law.
IC Markets provide novice traders with the option to try out a Demo Account, with a simulation of the website and virtual funds to trade with.
IC Markets provides a maximum leverage level of 1:500, which opens the path to the Forex market for retail traders with a small initial deposit, in order to cover margins. The utilization of leverage can amplify financial gains, but traders should also be reminded that losses can exceed the initial deposit. Leverage is known as a loan given by the brokerage firm to the trader to allow trading with a bigger capital and increase financial gains. However, traders should use the leverage instrument carefully.
IC Markets Deposits and Withdrawals
IC Markets provides ten flexible funding choices in ten major currencies. These currencies include: AUD, GBP, JPY, HKD, SGD, NZD, CHF, CAD, EUR, and USD. For the clientele’s benefit, there is the possibility to deposit or withdraw funds throughout various methods. These methods are: Cards, PayPal, Bank Transfer including local institutions, Neteller, Skrill, WebMoney, Qiwi, China UnionPay, FasaPay, and more.
The Standard Account available through MetaTrader4, along with two other types of accounts available at IC Markets, are set with a minimum deposit of $200 to start with. IC Markets does not charge any additional fees for deposits and they do not charge any fees for withdrawals. However, when it comes to International Bank Wire withdrawals, IC Markets charge the transfer fees to the financial institution, which is approximately AUD20 that is automatically removed from the amount of the trader’s withdrawal.
Educational Material and Resources
Educational materials are available on the IC Market website, below the section titled education and the IC Markets blog. Both websites are coherent, designed professionally, and the content revolves around useful topics that include risk management or technical analysis. Educational materials on IC Markets are offered on a free basis and it allows traders to acquire an idea of topics on trading; this can be done through regular technical analysis reports, informational instruments, video tutorials, and much more. IC Markets have educational videos with top quality, which can be found on the IC Markets Vimeo channel. It cannot be found on the website or the trading platform.
Conclusion on IC Markets
IC Markets was established in Sydney, Australia in 2007, by a team of financial analysts. Their main purpose is to connect retail and institutional traders, and offer them trading solutions tailored to their preferences. With IC Markets, since the broker is headquartered in Australia, their main license is the Australian Securities and Investments Commission (ASIC) license. Along with the ASIC, IC Markets is a member of the Financial Ombudsman Service (FOS); they are an Australian conflict resolution corporation that autonomously and justly resolves conflict that occurs between clients and financial service providers.
Apart from the refined technical optimization of the execution provided by primary technologies, the IC Markets provides advanced software proposals too. MetaTrader4 and cTrader are considered to be two of the leading trading platforms available in the market today. ZuluTrade is also an available on IC Markets, as well. ZuluTrade is considered to be one of the leading social trading platforms that give traders access the option to find thousand of talented traders.
IC Markets Summary
Summary Overall Performance