Updated: 05/16/2024

IC Markets

IC Markets Review

4 / 5
856 ratings
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.22 Apr 2023
author avatar image Chad Smith

Table of Contents

Overview

IC Markets Main Features
Feature Title Feature Value
🗺️ Year Founded 2007
🏢 Headquarters Australia
⚖️ Tier-3 Licenses Yes
Minimum Initial Deposit $200
Demo Trading Yes
Leverage (EU Clients) 1 : 30
Leverage(Non-EU-Clients) 1 : 500
Average Spread EURUSD 0.1 pips
💰 Withdrawal fee No
Withdrawal Time Same day
💰 Inactivity Fee No

IC Markets is a well-established online trading platform founded in 2007. With its headquarters in Australia and offices in Europe, it has gained a reputation as one of the leading forex brokers worldwide. The platform caters to both professional and retail traders by offering an extensive range of markets, competitive fees, and a user-friendly interface.

Traders can access over 3,500 trading instruments, including forex, commodities, indices, stocks, cryptocurrencies, and more. IC Markets’ unique selling point lies in its low cost and fast execution, making it the ideal choice for algorithmic traders and scalpers. The platform supports popular trading software like MetaTrader 4 and 5, as well as cTrader, providing flexibility and advanced features to ensure traders have the tools they need to succeed.

Key Takeaways

  • IC Markets is a leading online trading platform offering an extensive range of markets and low-cost execution.
  • The platform supports popular trading software like MetaTrader and cTrader for a seamless trading experience.
  • Flexible account types, trading conditions, and superior customer support make IC Markets a reliable choice for traders worldwide.

IC Markets Basics

IC Markets is a well-known broker in the trading industry, providing a reliable and efficient platform for all kinds of traders. With an extensive range of financial instruments, you can trade various assets, such as stocks, currencies, commodities, and crypto, amongst others.

As a trader, it’s essential to ensure that the broker you choose is regulated and operates within a strict legal framework. IC Markets is regulated by top-tier financial authorities, including the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority (FSA) in Seychelles. This ensures that your investments are in safe hands and that the broker adheres to strict guidelines and regulations.

Established in Australia, IC Markets has a strong Australian identity, offering its services to a global clientele. The company operates out of multiple locations, including Seychelles and Cyprus, aiming to provide a seamless trading experience to its users.

When trading with IC Markets, you’ll have access to various platforms, such as cTrader, MetaTrader 4, or MetaTrader 5. This allows you to choose the platform that best suits your trading style and strategy. The desktop trading platform receives a score of 3.4 out of 5, with clear fee reports, good customizability, and price alerts among its pros.

In summary, IC Markets is a well-regulated and reputable broker, offering an extensive range of trading instruments for both beginners and experienced traders. Based in Australia and regulated by authorities like ASIC, CySEC, and FSA, you can confidently trust this broker with your investments and trading goals.

What Did We Like about the Broker

  • Regulation: IC Markets is regulated by ASIC, one of the strictest financial regulators, providing a secure trading environment for clients.
  • Wide Range of Instruments: The broker offers a comprehensive selection of trading instruments, including cryptocurrencies, allowing traders to diversify their portfolios.
  • Competitive Spreads: IC Markets provides low spreads, especially on major currency pairs, which can positively impact trading profitability.
  • Multiple Trading Platforms: Traders have the flexibility to choose from various trading platforms, including MT4, MT5, and cTrader, based on their preferences and trading strategies.
  • Fast Execution: IC Markets ensures fast and reliable trade execution, minimizing slippage and latency through advanced technology and direct market access.
  • Flexible Account Types: The availability of different account types allows traders to select the one that aligns with their trading style and requirements.
  • educational Resources: IC Markets offers educational materials to support traders in enhancing their trading skills and knowledge.

Trading Account Types

  • Average Spread
  • Average Spread EURUSD – Standard
  • Average Spread USDJPY – Standard
  • Average Spread GBPUSD- Standard
  • Average Spread BTCUSD – Standard
  • Average Spread XAUUSD – Standard
  • Average Spread OILUSD – Standard
  • Review Link
  • 0.1 pips
  • 0.1 pips
  • 20 pips
  • 0.3 pips
  • 20 pips
  • 3.0 pips
  • 0.4 pips
  • 0.5 pips
  • 23 pips
  • 0.7 pips
  • 70 pips
  • 3.0 pips
  • 0.09 pips
  • 0.15 pips
  • 22.8 pips
  • 0.45 pips
  • 11.25 pips
  • 4.0 pips

At IC Markets, you have several account types to choose from, catering to your specific trading needs and preferences. In this section, we will discuss the main account types: Standard Account, Raw Spread Account, Islamic Account, and Demo Account.

Standard Account

The Standard Account is designed for beginners and casual traders looking for a simple, commission-free trading experience. Key features of the Standard Account include:

  • Spreads from 1.0 pip
  • No commissions
  • Access to all trading platforms, such as MetaTrader 4, MetaTrader 5, and cTrader

The minimum deposit requirement for a Standard Account is generally low, making it an accessible option for new traders.

Raw Spread Account

For more experienced traders or those with larger capital, the Raw Spread Account offers tighter spreads and a fee-based commission structure. Key features of the Raw Spread Account include:

  • Spreads as low as 0.0 pips
  • Commission-based structure
  • Ideal for scalping and high-volume traders

Note that the deposit requirement for a Raw Spread Account might be higher compared to the Standard Account, but it provides more competitive trading conditions for professional traders.

Islamic Account

IC Markets also offers Islamic Accounts, which are designed for traders who wish to comply with Islamic finance principles. These accounts feature:

  • Swap-free trading, with no interest or rollover fees on overnight positions
  • Equivalent trading conditions to Standard or Raw Spread Accounts
  • Compliance with Sharia law

Islamic Accounts can be opened upon request, subject to approval by IC Markets.

Demo Account

Finally, if you’d like to test the waters before committing to a live trading account, consider trying out the Demo Account. Key features of the Demo Account include:

  • A simulated trading environment with real-time market data
  • Access to all account types and trading platforms
  • No-risk opportunity to practice trading strategies

Demo Accounts are an excellent way to familiarise yourself with the IC Markets trading platforms, build your trading skills, and develop your confidence in a risk-free setting.

Trading Conditions

In this section, we will explore the trading conditions offered by IC Markets, specifically focusing on spreads and commissions, leverage, and execution speeds. Your experience with IC Markets will significantly benefit from understanding these factors.

Spreads and Commissions

At IC Markets, tight spreads are one of the most attractive features for traders. With a Raw Spread account, the variable spreads can go as low as 0 pips on major forex pairs, providing you with a competitive edge. IC Markets charges a commission starting from $0, which is advantageous when considering the trading costs. A combination of low commissions and tight spreads generally results in reduced overall costs for you as a trader.

Leverage

IC Markets offers a maximum leverage of 1:500 for your trading needs, which is relatively high and beneficial for those looking to maximise their potential profits. However, it is essential to keep in mind that higher leverage also involves increased risks. You should carefully consider your risk appetite and ensure proper risk management when using leverage in your trading activities.

Execution Speeds

A crucial factor to consider when trading with IC Markets is their fast execution speeds. Renowned for their high-quality order executions, the broker operates on a No Dealing Desk (NDD) model, ensuring minimal slippage and virtually no re-quotes. The platform’s efficiency, combined with the scalping and hedging options, allows traders to confidently manage their trades and benefit from optimal trading conditions.

In summary, IC Markets provides attractive trading conditions through competitive spreads, low commissions, flexible leverage, and fast execution speeds. Familiarising yourself with these factors will help you make informed decisions and enhance your trading experience with IC Markets.

Trading Platforms and Tools

  • Trading Platforms
  • No. of Trading Platforms
  • Proprietary Platform
  • Desktop Platform (Windows)
  • Web Platform
  • Social Trading / Copy Trading
  • MetaTrader 4 (MT4)
  • MetaTrader 5 (MT5)
  • cTrader
  • TradingView
  • DupliTrade
  • ZuluTrade
  • Review Link
  • No
  • No
  • Yes
  • Yes
  • No
  • Yes
  • Yes
  • Yes
  • Yes
  • No
  • No
  • No
  • Yes
  • Yes
  • No
  • Yes
  • Yes
  • Yes
  • Yes
  • No
  • 6
  • No
  • No
  • Yes
  • Yes
  • No
  • Yes
  • Yes
  • Yes
  • Yes
  • No

IC Markets offers a variety of trading platforms to cater to the needs of different traders. In this section, we will discuss these platforms, which include Metatrader 4, Metatrader 5, cTrader, and ZuluTrade.

Metatrader 4

Metatrader 4 (MT4) is a popular, user-friendly trading platform suitable for novice and professional traders alike. As a trader, you’ll benefit from its advanced charting tools, numerous technical indicators and the ability to implement automated trading strategies using Expert Advisors (EAs). IC Markets’ MT4 platform features:

  • Fast order execution: Benefit from low latency and fast order execution, ensuring minimal slippage.
  • Multiple chart types and timeframes: Choose from a variety of chart types and timeframes to suit your trading approach.
  • Extensive range of technical indicators: Utilise numerous pre-installed technical indicators or install your own custom indicators.
  • One-click trading: Quickly place orders and manage trades using the convenient one-click trading feature.

Metatrader 5

Metatrader 5 (MT5) is the upgraded version of MT4, offering additional tools and features to enhance your trading experience. This platform is suitable for more advanced traders, with improved charting capabilities, an expanded range of technical indicators and the inclusion of an economic calendar. IC Markets’ MT5 platform offers:

  • Improved order management: Easily manage multiple orders and strategies with the depth of market features.
  • Built-in economic calendar: Stay informed of upcoming economic events that may affect your trading.
  • Upgraded trading tools and features: Benefit from the addition of new technical indicators, graphical objects and enhanced charting capabilities.

cTrader

cTrader is a powerful, intuitive trading platform specifically designed for forex and CFD trading. With a focus on sleek design and user-friendly interface, cTrader offers advanced tools and functionality for professional traders. IC Markets’ cTrader platform provides:

  • Level II pricing: Access full market depth, with a transparent view of price levels and liquidity providers.
  • Advanced charting and technical analysis tools: Utilise various chart types, timeframes and a wide range of pre-installed technical indicators.
  • Customisable interface: Personalise your workspace and adjust platform settings to suit your trading preferences.

ZuluTrade

ZuluTrade is a social trading platform, that allows you to follow and copy the strategies of successful traders automatically. This platform is excellent for novice traders or those who prefer a hands-off approach to trading. With IC Markets’ ZuluTrade integration, you can:

  • Follow successful traders: Browse a vast range of trading strategies and select top-performing traders to follow.
  • Automate your trading: Automatically replicate the trades of your chosen traders in your own trading account.
  • Customise risk management settings: Adjust settings such as stop loss and take profit to manage your risk according to your preferences.

Deposits and Withdrawals

When it comes to managing your funds with IC Markets, you have a variety of options for both deposits and withdrawals. The platform offers a range of account funding methods, catering to your convenience.

Deposits: Funding your account is quite simple and hassle-free. IC Markets allows you to deposit funds using bank transfers, debit or credit cards, and various eWallets. Deposits are usually free for all funding methods, and the processing time is either immediate or within 12 hours, depending on the method you choose.

Withdrawals: Withdrawing your funds is just as easy as depositing them. You can request a withdrawal using the same methods as mentioned for deposits – bank transfers, debit and credit cards, and eWallets. IC Markets is known for its prompt withdrawal processing, with some clients reporting receiving their funds via SEPA payments in just one day.

Take note that while forex fees are low, the commissions on trading can be high. However, the overall experience with depositing and withdrawing remains satisfactory for most users.

Remember to be mindful of any potential withdrawal fees which may be associated with your preferred withdrawal method. It is always a good idea to check the specific fees and conditions associated with each funding method to ensure you are well-informed and avoid any surprises.

In summary, IC Markets offers competitive, easy-to-use, and fast deposit and withdrawal options, making it a viable choice for traders prioritising convenience and efficiency when it comes to managing their finances.

Customer Support and Resources

Customer Service

IC Markets ensures that you receive excellent customer support through various channels, including live chat, phone, and email. According to customer reviews, their support team is helpful and responsive, providing assistance when needed. Their quick deposit and withdrawal process also adds to the overall positive experience with IC Markets.

Educational Materials

To empower your trading journey, IC Markets offers a range of educational resources. As a trader, you can benefit from their webinars, video tutorials, and articles covering various aspects of trading. By offering these resources, IC Markets ensures that you have sufficient knowledge to make informed decisions in the market.

Market Analysis

Keeping up with market trends is essential for successful trading. IC Markets provides regular market analysis to help you stay updated. The platform offers daily market reports, expert insights, and technical analysis tools to help you make informed trading decisions. With their market analysis services, you can stay ahead of the curve and identify potential opportunities in the market.

IC Markets offers multiple trading platforms to cater to the diverse needs of traders:

  1. MetaTrader 4 (MT4): MT4 is a widely recognized and popular trading platform known for its advanced charting capabilities, extensive technical indicators, and automated trading options through Expert Advisors (EAs).
  2. MetaTrader 5 (MT5): MT5 is an upgraded version of MT4, offering additional features and improved performance. It provides enhanced charting tools, more advanced order types, and a wider range of available assets.
  3. cTrader: The cTrader platform is known for its advanced features and user-friendly interface. It offers advanced order execution, depth of market (DOM) visualization, and a wide range of technical analysis tools.

All three platforms are accessible on desktop (Windows and Mac), web-based platforms, and mobile devices (iOS and Android). This allows traders to trade anytime and anywhere, ensuring flexibility and convenience.

Customer Support & Education

IC Markets provides various channels for customer support, including live chat, phone support, and email support. Traders can reach out to the customer support team 24/7 for assistance with their trading accounts, technical issues, or general inquiries. While the response time for live chat may vary, overall, IC Markets is known for its responsive and helpful customer support.

In terms of education, IC Markets offers demo accounts for traders to practice and familiarize themselves with the trading platforms. They also provide tutorials on trading platforms to help traders navigate the features and tools effectively. Additionally, the broker offers trading ideas based on technical indicators and a live news feed to keep traders informed about market developments.

IC Markets vs. Competitors

When comparing IC Markets to its competitors, it stands out in several areas:

  • Regulation: IC Markets is regulated by ASIC, which is known for its strict regulatory standards. This provides a higher level of trust and reliability compared to some competitors.
  • Wide Range of Instruments: IC Markets offers a diverse selection of trading instruments, including cryptocurrencies, which may be broader than what some competitors provide.
  • Low Spreads: IC Markets provides competitive spreads, particularly on major currency pairs, offering potential cost savings for traders.
  • Advanced Technology: With advanced trading platforms and technology infrastructure, IC Markets ensures fast and reliable trade execution, minimizing slippage and latency.
  • Flexible Account Types: IC Markets offers multiple account types, allowing traders to choose the one that suits their trading preferences and strategies.

Conclusion

In conclusion, IC Markets is a reputable forex broker with a strong presence in Australia and the APAC region. With its robust regulation, a wide range of trading instruments, competitive spreads, advanced trading platforms, and reliable customer support, IC Markets offers a comprehensive trading experience for both retail and institutional traders. The broker’s focus on advanced technology, transparency, and customer service has contributed to its reputation as a trusted and reliable choice for forex trading.

FAQs

Is IC Markets regulated?

Yes, IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), which ensures a high level of trust and security for traders.

What trading platforms does IC Markets offer?

IC Markets offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader as their primary trading platforms. These platforms are accessible on desktop, web, and mobile devices.

Does IC Markets charge deposit and withdrawal fees?

No, IC Markets does not charge any deposit or withdrawal fees. Traders can fund their accounts and make withdrawals without incurring additional charges.

What account types does IC Markets provide?

IC Markets offers True ECN Raw Spread accounts, Standard accounts, and cTrader accounts. Each account type has its own features and benefits to cater to different trading preferences.

Does IC Markets offer educational resources?

Yes, IC Markets provides educational materials such as demo accounts, tutorials on trading platforms, and access to trading ideas and technical indicators to support traders in improving their skills and knowledge.

Sources & External Links

author avatar image
Chad Smith

Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com. Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it. Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.

IC Markets

4 / 5
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