Navigating Financial Excellence
In the dynamic realm of online brokerage, IC Markets shines as a haven for discerning traders. Ideal for both seasoned professionals and beginners, it offers precision and a plethora of account types to cater to diverse objectives. Discover how IC Markets empowers traders in this comprehensive review.
IC Markets Pros and Cons
Pros
- Three Account Types
- 2250+ Traded Assets
- Diverse Range of Trading Instruments
- No Commission on Standard Account
Cons
- Limited Educational Resources
- High Leverage Risk
Who Is IC Markets Recommended For?
IC Markets presents an enticing proposition for traders, especially those who prioritize simplicity and cost-effectiveness in their trading journey. This platform excels in providing a user-friendly interface, making it an excellent choice for beginners and traders who seek seamless execution without the need for complex tools.
One of IC Markets’ standout features is its competitive spreads, ensuring that traders can keep a more significant portion of their profits. Moreover, the broker’s stringent regulatory oversight adds an extra layer of security for clients, instilling trust and confidence.
While IC Markets may not cater to those craving an abundance of advanced functionalities, it certainly shines as a reliable, secure, and cost-efficient option for traders seeking a straightforward yet robust trading experience.
Top IC Markets Features
IC Markets distinguishes itself through a rich array of tools and features embedded within its trading platform, serving as invaluable aids for traders at all levels of experience. The provision of real-time push notifications ensures that traders remain promptly informed of crucial market movements and account status changes, allowing them to seize opportunities without delay. Furthermore, IC Markets offers sophisticated trend exploration tools, empowering traders to identify and capitalize on prevailing market trends.
These tools are complemented by instrument-specific insights, providing comprehensive information about various financial assets to facilitate well-informed trading decisions. Additionally, the platform facilitates comparative analysis of users’ trading behaviors, enabling traders to gain insights from peers and refine their strategies. This broker also provides a wealth of educational resources, including articles and video tutorials, catering to those seeking to bolster their trading skills. Augmented by advanced analytical tools such as comprehensive charting capabilities and a wide range of technical indicators, IC Markets’ platform emerges as a powerful ally for traders aiming to navigate the financial markets effectively.
IC Markets Overview
-
Type of Broker
Non-Advisory/Executionary Broker (ECN/STP) -
Regulation & Licensing
Cyprus Securities and Exchange Commission Australian Securities and Investments Commission Financial Services Authority (St Vincent & the Grenadines) -
Clients Accepted from
140 countries around the world -
Assets Offered
Foreign Exchange, Commodities, Indices, Shares, Bonds, Futures, Cryptocurrencies -
Platforms Available
MetaTrader 4, MetaTrader 5, cTrader, AutoTrade (Myfxbook), ZuluTrade -
Mobile Compatibility
Android and iOS -
Payment Types Accepted
Credit Card, Debit Card, Bank Transfer, Broker-To-Broker Transfer, PayPal, Skrill, Union Pay, Neteller, FasaPay, Poli, Rapid Pay, Klarna, Thai Internet Banking, Vietnamese Internet
IC Markets Account Types
A Versatile Spectrum
IC Markets takes a user-centric approach to account types, catering to traders of all backgrounds and expertise levels.
Live Accounts: The broker offers three primary account types, the commissions-free Standard Account, commissions-based Raw Spread and the cTrader Raw Spread Account. These options provide traders with flexibility, enabling them to choose an account that aligns with their specific trading needs. The Raw Spread Account, in particular, appeals to professionals seeking ultra-tight spreads and faster execution.
Demo Account: IC Markets provides a demo account, allowing traders to practice and refine their strategies with virtual funds in a risk-free environment. This invaluable resource is especially beneficial for newcomers looking to gain confidence before venturing into live trading.
Fairness and Inclusivity: IC Markets offers Islamic accounts, making it accessible for traders adhering to Islamic principles. Additionally, the broker’s account options are designed to be suitable for both beginners and professionals.
IC VPS: IC Markets offers IC Virtual Private Server to traders who have live trade accounts with IC Markets and meet the eligibility criterias.
US Traders: IC Markets, however, is not accessible to US traders due to regulatory restrictions.
IC Markets’ account offerings underscore their commitment to providing a diverse range of options while prioritizing fairness and user-centric features.
|
Account Type |
Available |
|
DEMO ACCOUNT |
Yes |
|
ISLAMIC ACCOUNT |
Yes |
|
SEGREGATED ACCOUNT |
Yes |
|
MANAGED ACCOUNT |
No |
|
SUITABLE FOR BEGINNERS |
Yes |
|
SUITABLE FOR PROFESSIONALS |
Yes |
|
US TRADER |
No |
IC Markets Compliance & Regulation
The broker is regulated by three bodies at present including the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), as well as the St. Vincent & the Grenadines Financial Services Authority (SVGFSA). IC Markets is also fully compliant with global regulations covering Anti-Money Laundering (AMF) and Counter Financial Terrorism.
Additionally, IC Markets also ensures that all client funds are protected. To achieve this, the broker keeps all client funds in segregated accounts. It also ensures that all funds are fully insured. Finally, the broker has fulfilled all requirements pertaining to internal risk management and sufficient capital while operations are regularly audited by external parties to ensure full compliance. Overall, the broker is well-regulated and emphasizes transparency to ensure that client interests are always protected.
IC Markets Pricing
Competitive and Transparent – 4.8 / 5.0
IC Markets adopts a competitive and transparent fee structure, designed to cater to traders with varying needs.
Account Minimum
IC Markets has a consistent minimum deposit requirement across all account types. While the standard minimum deposit is typically stated as $200, it’s important to note that a larger initial investment might be necessary if opening large-volume trades.
Trading Fees
Standard Accounts operate on a spread-only model, meaning that trading fees are included in the spreads. In contrast, Raw Spread Accounts incur commissions per lot traded. These commissions can vary depending on the asset and account currency.
CFD Fees (Spreads)
IC Markets offers competitive spreads for CFD trading, ensuring cost-effective access to a wide range of asset classes.
Account Fee
The broker does not impose account maintenance fees, promoting cost transparency.
Inactivity Fee
IC Markets does not charge an inactivity fee if an account remains inactive for an extended period.
Deposit Fee
Deposits to IC Markets do not incur fees, making it convenient for traders to fund their accounts.
Withdrawal Fee
The broker does not charge withdrawal fees, ensuring ease of access to funds.
Overnight Funding Fee
Traders holding positions overnight may be subject to financing fees, the specifics of which can vary based on the asset and position size.
Currency Conversion Fee
For traders using different base currencies, currency conversion fees may apply when depositing or withdrawing funds.
IC Markets’ transparent fee structure aims to ensure that traders have a clear understanding of the costs associated with their trading activities, promoting overall transparency and fairness. Specific fee details can be found on the broker’s website.
IC Markets Reliability & Security
Trustworthy Trading Partner
Safety and trust are paramount in the realm of online trading, and IC Markets excels in both.
Regulation: IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Seychelles Financial Services Authority (FSA), and also the Cyprus Securities and Exchange Commission (CySEC). These regulatory bodies enforce stringent standards, ensuring the broker complies with transparency and fairness requirements. It’s worth noting that IC Markets holds multiple licenses, providing an extra layer of security for clients.
Fraud Prevention: The broker implements state-of-the-art security measures, including robust encryption protocols and stringent identity verification procedures. These measures help safeguard clients’ personal information and prevent unauthorized access.
Client Fund Security: IC Markets holds client funds in segregated accounts, separate from the company’s operational funds. This separation ensures that clients’ money is protected, even in the unlikely event of financial instability within the company.
IC Markets’ commitment to regulation, fraud prevention, and client fund security makes it a trustworthy choice for traders seeking a secure trading environment.
|
Regulatory Body |
Status |
|
ASIC |
Yes |
|
CySEC |
Yes |
|
DFSA |
No |
|
EFSA |
No |
|
FCA |
No |
|
FMA |
No |
|
FSA (SC) |
Yes |
|
FSCA |
No |
|
FSC |
No |
|
JFSA |
No |
|
MAS |
No |
|
MiFID |
Yes |
IC Markets User Experience
Beyond the emphasis on superior trading conditions, IC Markets offers an excellent experience for users. Some of the features offered by the broker include alarm managers, correlation metrics, as well as sentiment maps. Users can leverage these resources and tools to make more informed trading decisions. Additionally, the broker also ensures that it is fully focused on user education between advanced trading support including web TV and video tutorials.
To give users the utmost support, the broker also ensures that it’s customer services representatives are well-trained and versed in many different subjects related to trading, 3rd-party integrations, and much more. The broker’s customer service team is active 24/7, thereby ensuring that all queries can be handled expediently if issues or questions arise.
The customer service team can provide support in a wide range of languages and can be contacted via various channels, including phone, email, as well as webchat. The FAQ section of the broker’s website is also extremely helpful, providing detailed answers to relevant questions. It’s even searchable so that clients comfortable seeking out their answers can identify the right information quickly.
Overall, the user experience delivered by IC Markets ranks among the best in the business. The broker has placed great emphasis on meeting the needs of all its users. The broker’s platforms are excellent, and the trading support offered by it is also extremely helpful. IC Markets offers a host of benefits, including quick trade execution and advanced charting tools, thereby adding to the advantages that traders are entitled to.
Final Thoughts on IC Markets
IC Markets offers a robust trading environment with a wide range of tradable instruments and competitive trading conditions. Their support for both beginners and professionals, along with a user-friendly platform, makes it a noteworthy choice. However, some areas, such as educational content, could be further improved to match industry leaders. Before selecting IC Markets or any broker, conduct thorough research based on your specific trading requirements and preferences to ensure it aligns with your goals and strategies.
Trading Platform Screenshots
Contact Info
Company Address:
NY4 and LD5 IBX Equinix Data Centres in New York and London