Ever wondered how to find trust in the unpredictable forex trading world?
In forex trading, picking the right platform is key. IC Markets stands out with its easy-to-use interface, low spreads, and strong rules. This makes it a top choice for traders.
IC Markets has been around for over 16 years. It offers traders over 60 currency pairs and popular cryptocurrencies like Bitcoin and Ethereum. You can also trade 2,250+ products, including metals and crops.
IC Markets has different accounts for all traders, from beginners to pros. Start with a demo account to build your skills. Plus, there are no fees for account maintenance or being inactive, making it a budget-friendly option.
This IC Markets review covers everything you need to know. We’ll look at account types, spreads, rules, and security. Discover how IC Markets can help you trade forex safely and with confidence today.
Introduction to IC Markets
IC Markets is a top choice for online trading, great for both new and experienced traders. It’s easy to use, making it perfect for beginners. The platform is known for quick trade execution thanks to its strong infrastructure.
IC Markets focuses on making trading easy and fun. It has simple and clear design. Traders can make trades easily. The platform offers competitive spreads and high leverage for different trading styles.
It also has advanced tools like moving averages. These tools are key for traders. They help spot trends and make trading decisions.
Traders use moving averages like the simple and exponential types. These are used for short and long-term trends. The 10/15-SMAs are good for quick trades, while the 50-SMA is for mid-term trends.
The 200-SMA is best for long-term trends. These averages help traders make informed decisions.
Using moving averages together can signal good trading times. It can also show how strong a trend is. A strategy that uses these averages with support and resistance levels is popular.
IC Markets also has a demo account called IC Markets demo. It’s a great way for new traders to practice without losing money.
IC Markets is known for being safe and trustworthy. It offers a simple and efficient way to trade. While it may not have everything, its main strengths make it a great choice for many.
| Moving Averages | Preferred by | Usage |
|---|---|---|
| 10/15-SMAs | Scalpers, Day Traders | Short-Term Trends |
| 50-SMA | Swing Traders | Mid-Term Trends |
| 200-SMA | Position Traders | Long-Term Trends |
Account Types Offered by IC Markets
IC Markets has many account types for different trading styles. Whether you’re just starting or you’re an expert, they have something for you.
Live Accounts
Live accounts at IC Markets are for serious traders who want real market action. You can choose from the Standard Account or the Raw Spread Account. The Standard Account has a mark-up of 0.8 pips on top of the raw rate. It’s great for traders who like predictable costs.
The Raw Spread Account gives you tighter spreads but charges a commission of $7 per standard lot round turn. You can start with as little as USD $200, making it easy for many traders.
Demo Accounts
Want to practice before trading with real money? Open a demo account with IC Markets. It lets you trade with virtual money in real-time. This is a great way to improve your skills and test strategies without risk.
It’s a key step in building confidence and understanding the market before trading with real funds.
Islamic Accounts
IC Markets also offers Islamic Accounts for traders who follow Islamic principles. These accounts are swap-free and perfect for traders who want to trade without overnight fees. By choosing an IC Markets hedge account in the Islamic version, you can trade without worrying about overnight fees.
| Account Type | Features | Commission | Leverage | Minimum Deposit |
|---|---|---|---|---|
| Standard Account | 0.8 pips spread mark-up, no commission | None | 1:500 | $200 |
| Raw Spread Account | Tighter spreads, ideal for scalpers | $7 per standard lot round turn | 1:500 | $200 |
| Islamic Account | Swap-free, Shariah compliant | Varies, based on account type | 1:500 | $200 |
IC Markets Trading Platforms
IC Markets has many trading platforms for different needs and devices.
MetaTrader 4
The IC Markets MT4 is easy to use and has lots of technical indicators. This helps traders do technical analysis easily. It also supports automated trading and has customizable charts.
MetaTrader 5
MetaTrader 5 is the next step up from MT4. It has more features like extra order types and better charts. It’s great for traders who want a powerful platform.
cTrader
cTrader is known for its fast trading and advanced tools. It’s perfect for those who like complex trading. It also supports algorithmic trading with cAlgo.
Mobile Trading Apps
IC Markets’ mobile apps let you trade from anywhere. They work on iOS and Android. You can use IC Markets MT4, IC Markets MT5, or IC Markets cTrader on your phone or tablet.
| Trading Platform | Key Features | Supported Devices |
|---|---|---|
| IC Markets MT4 | User-friendly; Extensive technical indicators; Automated trading with EAs | Desktop, Web, Mobile |
| IC Markets MT5 | Advanced order types; Improved charting tools; Economic calendar | Desktop, Web, Mobile |
| IC Markets cTrader | Fast order execution; Advanced charting; Algorithmic trading with cAlgo | Desktop, Web, Mobile |
| Mobile Trading Apps | Full trading functionality; Accessible on the go | iOS, Android |
IC Markets Regulatory Framework
The IC Markets regulatory framework is key to why clients trust this broker. It is overseen by top regulatory bodies. These include the Australian Securities and Investments Commission (ASIC) with license 335692, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority (FSA) of Seychelles. This ensures the broker keeps trader interests safe.
IC Markets also has a nod from the Financial Conduct Authority (FCA), with Firm Reference Number 827935 for IC MARKETS (EU) LTD. Clients can check the firm’s status with the FCA’s Consumer Helpline at 0800 111 6768. The Financial Ombudsman Service and Financial Services Compensation Scheme also offer extra protection when dealing with authorized firms. This shows how strong IC Markets’ regulatory setup is.
IC Markets is all about being open and fighting financial fraud. They give out clear firm details and a helpline number for reporting fake firms at 0300 500 0597. This helps keep the broker’s good name. Also, all UK firms must get authorized or registered by the right bodies. IC Markets does this in two Tier-1 and three Tier-4 jurisdictions.
As a well-regulated broker, IC Markets builds trust with its customers. Clients can trade with confidence, knowing their money and assets are safe under IC Markets’ strong rules.
Security Measures at IC Markets
Security is key when trading. IC Markets uses strong steps to protect your money and info. Let’s see how IC Markets keeps your investments and personal details safe.
Regulation and Licenses
IC Markets is watched closely with many licenses. These licenses make sure the platform follows global rules. This builds trust and reliability. Being checked by top groups means IC Markets keeps high security and honesty.
Among the regulatory entities overseeing IC Markets are the Australian Securities and Investments Commission (ASIC) and the Financial Services Authority (FSA) of Seychelles.
Fraud Prevention
Stopping fraud is a big part of IC Markets’ plan. They use the latest tech and watch closely to protect you from scams. They tell clients to use Two-Factor Authentication (2FA) and change passwords often to fight fraud.
- Encouraging clients to implement 2FA.
- Advising on regular password changes.
- Use of secured password manager software.
- Recommendations to lock devices when not in use.
- Emphasis on not sharing passwords with anyone.
Client Fund Security
IC Markets really cares about keeping your money safe. They keep all client funds in separate accounts with big banks. This means your money is safe, even if the company faces financial problems.
They also have strict Know Your Client (KYC) and Anti-Money Laundering (AML) steps. These steps make sure only real and verified clients can trade with IC Markets.
By protecting personal info and following strict rules, IC Markets aims for a safe and clear trading place. Their hard work in security and stopping fraud makes them a reliable trading partner.
Trading Instruments Available at IC Markets
IC Markets gives you many trading options. You can trade in the forex market, cryptocurrencies, indices, and commodities CFDs. This lets you explore different types of assets.
- 60+ Currency Pairs: Trade major, minor, and exotic currency pairs in the forex market.
- Commodities: Trade gold, silver, oil, and other commodities CFDs.
- Indices: Trade indices from major global markets like the S&P 500 and NASDAQ.
- Cryptocurrencies: Explore digital currencies like Bitcoin and Ethereum.
IC Markets has a wide selection of trading instruments, over 1,659 stocks and many commodities CFDs. It doesn’t offer ETF trading now, but its wide range is great for traders. They can trade in the forex market, stocks, indices, and commodities.
Here’s a look at some key offerings:
| Trading Instrument | IC Markets | Common Alternatives |
|---|---|---|
| Forex Market | 60+ Currency Pairs | 50+ Currency Pairs |
| Indices | Popular Global Indices | Limited Global Indices |
| Cryptocurrencies | Bitcoin, Ethereum, and more | Selective Pairs Only |
| Commodities CFDs | Gold, Silver, Oil, etc. | Basic Commodities |
IC Markets works well with TradingView, a top charting platform. It has over 50 million active traders. With TradingView, you get 15+ chart types, 110+ drawing tools, and over 400 indicators. You can set up 13 different notifications to catch trading chances.
IC Markets offers real-time quotes with low spreads and commissions. You can trade with a minimum lot size of 0.01 and no max. TradingView is great for analyzing and making trades with one-click trading and syncing across devices.
There are no limits on limit orders and support for pre-existing cTrader accounts. IC Markets offers a flexible trading environment for your needs.
Spreads and Commissions
IC Markets is known for its competitive and clear fees. They offer different account options to fit your trading needs. Knowing these options can help you make better trading choices.
Standard Account
The Standard Account at IC Markets starts at 0.8 pips above the inter-bank rate. It’s great for traders who want simplicity. This account has no extra fees, making it a good choice for traders who like all-in-one pricing.
It uses over 25 liquidity sources for competitive spreads 24/7. This ensures deep liquidity for traders.
Raw Spread Account
For tighter spreads, the Raw Spread Account is the way to go, with spreads as low as 0.0 pips. This account has a small commission fee on trades. The commission is $7 per standard lot round turn, depending on the account’s base currency.
For example, the USD has a commission of $7.00 round turn, and GBP is $5.50. This makes IC Markets spreads very competitive.
Account Fees
IC Markets has a client-friendly fee policy. There are no account maintenance fees. This lets traders focus on their strategies without worrying about extra charges.
Inactivity Fees
IC Markets doesn’t charge inactivity fees. This means traders won’t face penalties for not trading. It shows IC Markets’ commitment to a supportive trading environment for all users.
| Account Type | Spreads | Commission | Base Currency Commission |
|---|---|---|---|
| Standard Account | 0.8 pips | None | N/A |
| Raw Spread Account | 0.0 pips | $7 per standard lot round turn | Varies (e.g., USD: $7.00, GBP: $5.50) |
IC Markets’ Leverage Options
IC Markets gives traders many leverage options. They can pick from different financial leverage forex levels that fit their trading style and risk level. The leverage ratios range from 1:1 to 1:500. But, it’s important to know the risks of high leverage, especially in the forex market.
Leverage ratios like 1:100 need only a 1% margin for every 100 USD traded. A 1:200 leverage requires a 0.5% margin for every 200 USD traded. Here’s a quick breakdown:
| Leverage Ratio | Margin Requirement |
|---|---|
| 1:100 | 1% |
| 1:200 | 0.5% |
| 1:500 | 0.2% |
Traders can trade in the forex market with different lot sizes. These include standard lots (100,000 currency units), mini lots (10,000 currency units), and micro lots (1,000 currency units). Leveraged trading in the spot FX market is cash-settled.
The margin is key in leveraged trading. It’s a part of equity set aside by brokers like IC Markets to cover losses. The used margin stays the same during trades. The free margin lets for more positions. The stop-out level in platforms like cTrader is set at 50% by IC Markets. If the equity falls below this, trades will be closed to manage risk.
It’s important for traders to manage leverage well based on their strategy and risk tolerance. High leverage at IC Markets can greatly increase both profits and losses. So, a strong risk management plan is needed.
Knowing about these leverage options and risks helps you make better decisions. By understanding financial leverage forex, you can use its benefits while avoiding its dangers.
Trust and Transparency at IC Markets
Since 2007, IC Markets has built a strong trust and transparency reputation. It follows top regulations and has a trust score of 94/99. This shows its commitment to the Forex Broker industry. Clients know their money is safe and trading is fair.
Client Protections
IC Markets keeps clients safe with negative balance protection and segregated accounts. This stops accounts from going into debt and keeps money safe in top banks. It’s all about keeping traders’ funds secure.
IC Markets also follows strict rules. It gets checked by groups like the Australian Securities and Investments Commission (ASIC) and the Financial Services Authority (FSA) of Seychelles. This makes traders trust IC Markets more.
Transparency Practices
IC Markets values transparency. They are open about fees and services, making trading clear. Traders get to know about spreads, commissions, and features like leverage up to 1:500. This helps traders make informed choices.
Investor Compensation Fund
IC Markets also has an investor compensation fund. This fund helps traders if IC Markets has money problems. It shows IC Markets cares about being open and keeping clients safe.
IC Markets is a top choice for traders because of its strong rules, focus on customers, and trust in transparency. Its clear operations and strong security make it a reliable broker. This is why clients trust and are happy with IC Markets.
Algorithmic Trading with IC Markets
Algorithmic trading has changed the game in financial markets. IC Markets is a top choice for traders looking for the latest tech. About 75% of US equity trades are now done by algorithms. This makes it key for traders to use this tech to keep up.
IC Markets is great for high-frequency traders and scalpers. It offers a perfect place for fast and complex automated forex trading. This is thanks to good trading conditions and top platforms like MetaTrader and cTrader.
For traders wanting to boost their strategies, IC Markets has strong VPS hosting. The IC Markets VPS helps with low-latency and non-stop trades. This is key for high-frequency trading where time is everything. It also supports a wide range of trading strategies, from simple to complex.
IC Markets helps traders with a smooth platform for algorithmic trading. You can use strategies that make the most of price gaps in different assets like FX, futures, bonds, and energy. The forex trading systems from IC Markets are very precise. They work well with the fast-changing market that needs constant checks and tweaks.
IC Markets is known for its tech and great trading conditions. Here’s a look at how it compares with FXCM:
| Feature | IC Markets | FXCM |
|---|---|---|
| Minimum Deposit | $200 | $50 |
| Funding Methods | 15 | 6 |
| Maximum Retail Leverage | 1:500 | 1:400 |
| Minimum Raw Spread | 0.0 pips | 0.2 pips |
| Minimum Standard Spread | 0.6 pips | 1.3 pips |
| Forex Commission | $6.00 per round lot | $5.00 |
| CFDs/DMA Commission | $0.04 per round lot (US) | Free |
| Regulatory Licenses | Seychelles FSA, ASIC, SCB, CySEC | ASIC, FCA, CySEC, FSCA |
Choosing IC Markets means picking a provider that offers top-notch trading tech. It also values transparency and security with its solid regulatory backing. This is why IC Markets leads in algorithmic trading, with a strong record over 12 years.
IC Markets Customer Support
IC Markets is proud to offer top-notch customer service to traders worldwide. If you’re dealing with tech problems or need help with trading, the IC Markets team is here to help.
Availability
IC Markets support is on call 24/7, so traders can get help anytime. Specialists in places like Seychelles make sure questions are answered fast. They use reCaptcha and re-verify to keep things safe and real.
Support Channels
IC Markets has many ways to help its clients. You can contact them through:
- Live Chat: Most chats happen in real-time, giving quick help and solving problems fast.
- Email: For questions that need more info, email support is there.
- Phone Support: There are direct phone lines for help with tricky issues.
The team also uses IP address checks to know where clients are from. This helps give support that’s right for their area.
Customer Reviews
Many users are happy with IC Markets. They praise the quick replies and the smart support team. The way they handle forms and errors shows they care about doing things right. Customers often talk about how the support team is proactive and good at solving problems.
Here’s a closer look at how they do customer service:
| Metric | Detail |
|---|---|
| Office Locations | Seychelles |
| Support Availability | 24/7 |
| Instant Response Time | Within 5 seconds |
| Client Base | Over 180 countries |
| Interaction Channels | Live Chat, Email, Phone |
| Precautionary Measures | reCaptcha Verification |
IC Markets sets a high standard in customer support. They work hard to make trading smooth and easy for traders.
Funding and Withdrawal Methods at IC Markets
IC Markets makes funding and withdrawing money easy and quick. IC Markets offers many payment options for clients all over the world. This makes managing your money simple. There are no fees for deposits or withdrawals at IC Markets.
You can deposit money in many ways at IC Markets Global. Options include bank/wire transfers, PayPal, credit cards, Skrill, Neteller, UnionPay, Bpay, FasaPay, and Poli. Whether you like old-school banking or new tech, you’ll find an option that works for you.
IC Markets doesn’t charge for deposits, but watch out for fees from other payment services. Here’s a look at how you can withdraw money, including times and any extra costs:
| Withdrawal Method | Processing Time | Special Requirements |
|---|---|---|
| International Bank Wire | Up to 14 days | First withdrawals may require documentation |
| Credit/Debit Card | 3-5 business days (up to 10 days in some cases) | Withdrawn to the same card used for deposit |
| PayPal/Neteller/Skrill | Instant | Withdrawn to the same account used for funding |
| WebMoney | 3-5 business days | |
| FasaPay | 3-5 business days via Bank Transfer | |
| Poli/Bpay | 2-3 business days | No additional charges |
| Vietnamese Internet Banking | Varies | Copy of bank statement required for first withdrawal |
| Thai Internet Banking | 1 business day |
If you ask for a withdrawal before 12:00 AEST/AEDT, it’s done on the same business day. This means you get your money fast. IC Markets Global doesn’t send payments to others, keeping your money safe.
IC Markets might ask for extra documents for some withdrawals. This is to keep everything secure and follow the rules of international finance. It helps protect everyone involved.
Overall, IC Markets makes funding and withdrawing money easy, safe, and quick. This lets you focus on trading and not worry about the details.
The Pros and Cons of IC Markets
Looking at the pros and cons of IC Markets is key for traders. We’ll look at the good and bad of using IC Markets for trading.
Pros
IC Markets offers many benefits for traders. Here are the main advantages:
- Wide variety of trading instruments: Trade 60 currency pairs, over 2100 company shares CFDs, 28 commodities CFDs, 25 indices CFDs, 20 cryptocurrency pairs CFDs, 11 debt bond CFDs, and 4 futures CFDs, giving you lots of market options.
- Exceptional trading platforms: Use top platforms like MetaTrader 4, MetaTrader 5, and cTrader.
- Low fees and spreads: Spreads start at 0 pips and commissions are as low as $3 per lot on Raw Spread accounts. There are no deposit fees and competitive withdrawal charges.
- Diverse account types: Choose from Raw Spread and Standard accounts, fitting different trading styles and strategies, including the IC Markets MT4 download for easy access.
- Customer support: Get 24/7 multilingual customer service for reliable help through various channels.
- Regulatory oversight: Strict rules from CySEC, ASIC, and FSA ensure safety and protection for traders.
Cons
IC Markets has some downsides to consider:
- Limited educational resources: The educational tools and materials are not as wide-ranging as some other brokers. This might be a drawback for new traders looking for more learning support.
- High leverage risks: With up to 1:500 leverage through FSA, high leverage can be risky, especially for new traders.
- Lack of advanced security features: Not having two-step authentication or anti-phishing codes can be a worry for some traders.
- Limited financial details on equity CFDs: There’s not much info on the financial health of equity CFDs, like income statements or financial ratios.
- Focus on CFDs: IC Markets only offers CFDs, which might not be what some traders are looking for if they want a wider range of financial products.
Looking at these points will help you see if IC Markets fits your trading goals and likes. The wide asset range and low fees are big pluses. But, knowing the risks and limits is key to making a smart choice.
Final Thoughts on IC Markets
IC Markets is a top choice for traders who want a simple, safe, and affordable trading experience. It offers 3,583 tradeable items. This includes 60 currency pairs, over 2100 company shares, and 25 indices. This variety lets traders try out different markets and strategies.
The broker follows strict international rules, making it a trusted choice worldwide. It has strong security measures, even if it doesn’t have two-step login. Their clear fee structure, with spreads from $3.00 to $3.50 per lot, shows they care about their clients.
IC Markets might not have much in education and research, scoring 3.6 overall. But, it makes up for it with great support and low spreads, like 0.02 pips on EUR/USD. Traders who want a lot of tools will like the many platforms available, like MetaTrader 4, MetaTrader 5, and cTrader.
IC Markets is great for CFDs but lacks mutual funds or ETFs. Still, its many strengths and few weaknesses make it a top choice in the trading world. It offers a secure, efficient, and rewarding experience for its users.
