Founded in :  2007

Headquarters : Sydney

Regulation : AFSL and FOS

 

 

 

 

Platforms : MT4, MT5, cTrader, ZuluTrader

Leverage : 1:500

Minimum Deposit : USD$200

 

 

 

Summary

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.

This broker review is an in-depth analysis of the features of IC Markets, and what IC Markets offers you.

ProsCons
No deposit and withdrawal feeNo negative balance protection
Demo Account availableSlow live chat response
Regulated by Australian Securities and Investments Commission (ASIC)No investor protection
Fast and easy to open an account

What IC Markets Offers

IC Markets provide access to capital markets like currency pairs, all types of CFDs, and cryptocurrencies, for you to trade with. They are most renowned for their CFDs and Forex trading instruments.  

What IC Markets Offers
60 Currency Pairs
16 Stock Index CFDs
120 Stock CFDs
23 Commodity CFDs
9 Bond CFDs
10 Cryptocurrency

Accounts

With IC Markets, there are three account types that you can choose from; you can choose the True ECN Raw Account with cTrader, the True ECN Raw Spread Account with MetaTrader4, or the Standard Account. All three options have an easy and convenient way of opening an account that will take no time from you at all.

The first account type that IC Markets provides is the True ECN Account with cTrader, which offers you faster order execution and no restrictions on trading. You will find that you can trade with 64 Currencies and 64 Metals, along with 15 CFDs; traders are also allowed to scalp and hedge with this account type. Spreads start at 0.0 pips, and you will find that all major base currencies are available for you in the True ECN Account with cTrader.

ECN with cTrader

ProsCons
Low spreadsOnly works with cTrader
Islamic account availableCannot have multiple trading platforms
Demo Account availableMinimum deposit of 200USD
Easy to open an account
Sub-accounts are possible

The IC Markets Account of True ECN Raw Spread Account is an account that is corresponding with MetaTrader. It also allows scalping and access to the most common base currencies such as: USD, EUR, and GBP. There is no minimum trading distance and you can freeze your order at 0; this means that there are no limitations to your trading solutions and you will not find any hindrances while you trade.

ECN with MetaTrader

ProsCons
Low spreadsMinimum deposit of 200USD
Islamic Account available
Demo Account available
MT4 and MT5 are available trading platforms
Easy to open an account and fully digital
Trading Account Types in IC Markets
True ECN Account with cTrader
True ECN Account with MetaTrader
Standard Account

With the final IC Markets trading account, the Standard Account, you can open an account with MetaTrader4 or MetaTrader5 trading platforms. It is suitable for all types of traders and it is commission free. The maximum leverage level is 1:500 and you will find that the Standard Account has flexible lot pricing for your trading strategies and trading positions.

Standard Account:

ProsCons
No commission per lotHigh spreads
Sub-accounts are providedOnly available for MT4 and MT5, not cTrader
Islamic Account availableMinimum deposit is 200USD
Demo Account available
Fully digital and convenient method to open account

How To Open An IC Markets Account:

IC Markets Opening an Account

Five steps to open an IC Markets account with an estimate of three minutes.

STEP ONE: Fill in your personal information with the online application on the ECN Accounts for Forex trading.

IC Markets Opening an Account STEP 1

STEP ONE: Fill in your personal information with the online application

STEP TWO: Choose your account type and fill out the information of your date of birth and current address.

IC Markets Opening an Account STEP 2

STEP TWO: Choose your account type and fill out the information of your date of birth and current address.

STEP THREE: Choose your preferred trading platform, account type, and base currency. 

IC Markets Opening an Account STEP 3

STEP THREE: Choose your preferred trading platform, account type, and base currency.

STEP FOUR: Fill in the trading questionnaire on your trading experience and a security question-answer for your login process. You will also accept a declaration that you acknowledge and understand the terms and conditions of IC Markets.

IC Markets Opening an Account STEP 4

STEP FOUR: Fill in the trading questionnaire on your trading experience and a security question-answer for your login process. You will also accept a declaration that you acknowledge and understand the terms and conditions of IC Markets.

IC Markets Opening an Account STEP 4^

STEP FOUR: Fill in the trading questionnaire on your trading experience and a security question-answer for your login process. You will also accept a declaration that you acknowledge and understand the terms and conditions of IC Markets.

STEP FIVE: Fund your trading account and upload the corresponding documents of your proof of identity (POI), and proof of residency (POR). 

IC Markets Opening an Account STEP 5

STEP FIVE: Fund your trading account and upload the corresponding documents of your proof of identity (POI), and proof of residency (POR).

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. It 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, it charges the transfer fees to the financial institution, which is approximately AUD20 that is automatically removed from the amount of the trader’s withdrawal.

Deposits

ProsCons
No deposit feeNot all methods support all base currencies
10 base currenciesMinimum deposit of 200USD
Various methods of deposit

With IC Markets, there are no deposits fees, which mean you will not have to pay additional fees whenever you make a deposit. There are ten base currencies you can choose from as your preferred currency to trade with. However, you need to make sure that your deposit option is harmonized with your base currency, because there are a few deposit options who do not support all ten base currencies.

Deposit Options
Credit\Debit Card
PayPal
Neteller
Skrill
Bank Transfer
International Wire Transfer
FasaPay
POLi
Broker to Broker
Bpay
Thai Internet Banking
Vietnamese Internet Banking
BitCoin

Withdrawals

ProsCons
No withdrawal fee for most optionsInternational bank transfer has a high withdrawal fee (20AUD)
Fast withdrawal process

IC Markets does not charge a withdrawal fee, and their withdrawal process is fairly fast and convenient for traders. However, if you decide to use the withdrawal method of an international bank transfer, then you will have to pay a withdrawal fee of 20AUD, or its equivalence. The fee will automatically be taken after each withdrawal.

Withdrawal Options
Credit\Debit Card
PayPal
Neteller
Skrill
Domestic Bank Transfer
International Wire Transfer
FasaPay
POLi
Broker to Broker
Bpay
Thai Internet Banking
BitCoin
RapidPay
Klarna

How To Trade with IC Markets

IC Markets Trading Platforms
MetaTrader4
MetaTrader5
cTrader
IC Markets Trading Platforms

The available trading platforms for IC Markets are: MT4, MT5, and cTrader.

Tools of IC Markets

IC Markets provides many trading tools for you, which would help you improve your trading solutions and advance your trading skills. The trading tools that IC Markets provides are: MAMPAMM Accounts, VPS, Trading servers, and MT4 advanced trading tools.

Trading Tools IC Markets Provides
MAM / PAMM
Virtual Private Server
Trading Servers
MT4 Advanced Trading Tools

Trading Tools

ProsCons
MAM / PAMM is the best option for both inexperienced and skilled tradersVPS requires more technical knowledge
Trading servers are automated that minimized emotional tradingNo authority over contracts in MAM / PAMM accounts
Trading servers allow for back-testingTrading servers have the possibility of poor performance 

Resources

With IC Markets, you will find many resources and charting tools. They provide traders with a live news feed, 31 technical indicators, and trading ideas. However, one thing that they lack on their platform is fundamental data, which is unavailable.

There are three types of resources with IC Markets; you will find them available and accessible for you. They provide trading ideas that are based on trading indicators. IC Markets also offer a live news feed that contains accurate charts and texts that are easy to read. However, you will not find any fundamental data available. They do not have their own research team, which means that you can access the resources only if you are using the MT4 platform.

ProsCons
Trading ideas availableAvailable on MT4 platform
Live news feed with readable texts and accurate chartsNo fundamental data
Variety of technical indicators
User-friendly platform

In regards to their charting tools, they provide a variety of 31 technical indicators that are considered average, compared to other trading services providers. You will find that the design is somewhat obsolete and there are features that are hard to locate.

Customer Support

With IC Markets customer service, there are several ways to reach them. You can reach them through live chat, phone support, and via email. They are relatively fast to respond, but with live chat, the responses can be irrelevant.

ProsCons
Different methods of customer supportSlow response with live chat
Fast response via phone and email supportIrrelevant response with live chat
Available 24\7

LIST: Means Of Communication 

  • Live chat
  • Phone support
  • Email support

Customer Reviews

According to many customers who use IC Markets, the customer support service is excellent, especially for the phone support and email support. The trading experience of IC Markets was beneficial, and traders greatly appreciated that the customer support was available 247.

Safety

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 financial services licence (AFSL) No. 335692 and the Australian Securities and Investments Commission (ASIC), which authorizes them to carry on a financial services business in Australia, limited to the financial services covered by our AFSL.

Furthermore, the AFSL and the ASIC are 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 and as a way of preventing risk warning. 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 AFSL, 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. As a precaution, the broker highly recommends reading their Account Terms and their Product Disclosure Statement on CFDs before trading with them, as a risk warning, to ensure the right decision for prospective clients.

Regulations and Licenses

ProsCons
Regulated by the Australian Securities and Investments Commission (ASIC) and the Australian Financial Services Licence (AFSL) No. 335692.Does not have a banking license
Client funds in segregated accountsDoes not provide any negative balance protection and investor protection
Clients are the only ones who can access the trading accounts

Learn IC Markets

In order to be able to trade with international capitals including currency pairs, you will need to learn about them first. You’ll find that IC Markets can provide you with the best educational materials, from Demo Accounts to tutorials of the trading platform.

How to Open a Demo Account

STEP ONE: Fill out the online application with your personal information

IC Markets Demo Account STEP ONE

STEP ONE: Fill out the online application with your personal information

IC Markets Demo Account STEP TWO

STEP TWO: Choose the trading platform, base currency, account type, leverage, and the initial deposit.

 

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.

Metatrader4 and MetaTrader5

ProsCons
Available in several languagesOutdated design
Available for web platform, desktop platform, and mobile applicationNo two-step login process
Price alerts on mobile application and desktop trading platform

With MetaTrader4 and MetaTrader5, they have the basic order types that allow you to place orders. You can use order types such as: Stop, Market, and Limit. These order types all you to control your trading positions with the trading platforms. You can also use the order types of: Good Till Cancelled (GTC) and Good Till Time (GTT).

IC Markets MetaTrader

With MetaTrader4 and MetaTrader5, they have the basic order types that allow you to place orders.

As for security, you will find that the MetaTrader platform does not have access to a two-step login process; they also do not provide the option of face recognition on their mobile application. This means that there are no extra precautions in regards to the safety of the login of clients and traders.

For the desktop trading platform, you can allow alerts and notifications for price changes through an email. You can also allow price alerts and notifications on the mobile application trading platform, but it is entirely up to you. However, in the MetaTrader web trading platform, you will not find the option of setting alerts and notifications for price changes.

Overall, MetaTrader4 and MetaTrader5 are excellent trading platforms for traders. The MetaTrader4 platform is suitable for novice traders who are just getting in the game, while the MetaTrader5 platform is tailor-made for advanced traders who have more experienced in trading.

cTrader

ProsCons
Tailor-made for experienced tradersNot acceptable for novice traders
Contains algorithms of C# programming
Various languages available

With IC Markets, the cTrader trading platform is more advanced since it centres on C# programming and algorithms. The order types for cTrader of Pending Orders and Stop Loss can be accessed by the opposing side, the second consecutive price, and the opposite second consecutive price; this is to ensure that there is no room for error in prices. There are two types of stop-out orders, the Smart Stop-Out and the Fair Stop-Out.

The Smart Stop-Out allows traders with the best option of recovering their trades if they happen to find that their margin falls below the stop-out level. The Fair Stop-Out closes the largest margin position, giving traders the biggest space of margin as possible to be able to protect the remaining trading positions.

With cTrader, you have the choice for an email notification that will alert you on various order types and if your price has reached its target. You will find that the mobile application, which is available on the Google Play Store and the Apple App Store, also has the option of in-application notifications. The in-app notifications will alert you on the execution of orders, price changes, and symbol status information.

IC Markets cTrader

The in-app notifications will alert you on the execution of orders, price changes, and symbol status information.

As for security, you will find that there is no two-step login process, and they do not accept face recognition on their mobile application. The two-step login process is a safe procedure that ensures the safety of the client’s login information and account.

Overall, the cTrader trading platform is a preferred choice for traders who appreciate algorithms in trading and prefer using C# programming in their trading sessions. It is a bit more complicated for novice traders and it would be hard to keep up if you just entered the trading game.

IC Markets Fees

IC Markets has been generous with the fact that there are no deposit fees, no withdrawal fees, and no inactivity fees.  However, you will find that there is high financing rate for CFDs; there is also an overnight fee, depending on the overnight interest rate discrepancy.

ProsCons
No inactivity feeHigh rate for CFDs
No account fee
Free deposits and withdrawals
Low trading fees

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. There is 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 has two MT4 account types, a Standard account and the leading, Raw Spread account. It does not charge a commission on Standard accounts but instead applies a spread mark up of 1 pip above the Raw inter-bank prices received from their liquidity providers. The Raw Spread account shows the raw inter-bank spread received from our liquidity providers; on this account there is a commission of $7 per standard lot round turn.

Deposit and Withdrawal Fees 
Deposit Fee0USD
Withdrawal Fee0USD
Inactivity Fee0USD
Account Fee0USD

IC Markets does not charge a withdrawal fee, and their withdrawal process is fairly fast and convenient for traders. However, if you decide to use the withdrawal method of an international bank transfer, then you will have to pay a withdrawal fee of 20AUD, or its equivalence. The fee will automatically be taken after each withdrawal.With IC Markets, there are no deposits fees, which mean you will not have to pay additional fees whenever you make a deposit. There are ten base currencies you can choose from as your preferred currency to trade with. However, you need to make sure that your deposit option is harmonized with your base currency, because there are a few deposit options who do not support all ten base currencies.

IC Markets Fees vs. Competitor Fees

IC MarketseToroAvaTradeXM Group
Account FeeNoNoNoNo
Inactivity FeeNoYesYesYes
Deposit Fee0$0$0$0$
Withdrawal Fee0$25$v0$

Conclusion

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.

 

FAQ
Is IC Markets A Good Broker?

IC Markets is a good broker that allows you to trade in various trading instruments, and teaches how to trade.

Is IC Market Reliable?

IC Markets is regulated by the Australian financial services licence (AFSL) No. 335692 and the Australian Securities and Investments Commission (ASIC). Along with the AFSL, 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.

How Long Does It Take To Withdraw From IC Markets?

To withdraw funds from IC Markets, it takes an average of 2 business days to withdraw.

What Is The Minimum Deposit On IC Markets?

The minimum deposit of IC Markets is 200USD for any trading account you wish to open.

Does IC Markets Have Nasdaq?

Yes, IC Markets has access to Nasdaq and the NYSE.

How Do I Fund IC Markets?

You can fund your IC Markets account through these payment methods: CreditDebit Card, PayPal, Neteller, Skrill, Bank Transfer,  International Wire Transfer, FasaPay , POLi, Broker to Broker, Bpay, Thai Internet Banking, Vietnamese Internet Banking, and BitCoin.

Does IC Markets Charge Commission?

With the True ECN Accounts, there is a small commission. However, IC Markets does not charge commission with the Standard Account.

Is IC Markets Regulated?

IC Markets is regulated by the Australian financial services licence (AFSL) No. 335692 and the Australian Securities and Investments Commission (ASIC). Along with the AFSL, 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.

How Do I Deposit Into IC Markets?

You can deposit funds into your IC Markets account through these payment methods: CreditDebit Card, PayPal, Neteller, Skrill, Bank Transfer, International Wire Transfer, FasaPay , POLi, Broker to Broker, Bpay, Thai Internet Banking, Vietnamese Internet Banking, and BitCoin.

Is IC Markets Safe To Use?

Yes, since it is regulated by two top-tier financial regulators and participates in a renowned financial service corporation. IC Markets is regulated by the Australian financial services licence (AFSL) No. 335692 and the Australian Securities and Investments Commission (ASIC). Along with the AFSL, 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.

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