IC Markets Review

Overall, IC Markets can be summarised as a trustworthy and highly regulated Forex Broker that is very competitive regarding its trading fees. IC Markets offers access to an extensive range of financial instruments and has a 94 out of 99 trust score.

🛡️Regulated and trusted by ASIC, CySEC, FSA, SCB
🛡️2608 new traders chose this broker in the last 90 days.
🛡️Available for global Traders.

Overview

IC Markets, founded in 2007, is a globally recognized online trading broker, offering its services to over 1 million active traders. Based in Seychelles and regulated by the Financial Services Authority (FSA), IC Markets provides a secure and efficient trading environment. It ensures investor protection through segregated accounts, negative balance protection, and regulatory adherence.

The broker supports a variety of trading instruments, including CFDs on major and minor currencies, global stock indices, commodities, and shares, with spreads starting from 0.0 pips. With an array of trading platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, IC Markets caters to traders with different preferences across multiple devices.

Furthermore, its high leverage of up to 1:500, fast order execution, and VPS hosting options enhance the overall trading experience.

Frequently Asked Questions

What year was IC Markets founded?

IC Markets was founded in 2007.

How many active traders are there at IC Markets?

Over 1 million active traders.

Is IC Markets publicly traded?

No, IC Markets is not publicly traded.

Where are IC Markets regulated?

IC Markets is regulated by the Financial Services Authority (FSA) in Seychelles.

Our Insights

IC Markets is an excellent choice for traders who prioritize low costs, thanks to its competitive spreads starting from 0.0 pips and minimal fees on deposits and withdrawals. With the ability to trade with high leverage, IC Markets allows traders to maximize their trading potential with minimal upfront costs.

Detailed Summary

Frequently Asked Questions

Does IC Markets offer account segregation?

Yes, IC Markets offers account segregation for client funds.

Is there negative balance protection at IC Markets?

Yes, IC Markets provides negative balance protection to its clients.

What investor protection schemes does IC Markets provide?

IC Markets offers investor protection through regulatory oversight, account segregation, and negative balance protection.

Does IC Markets offer institutional accounts?

Yes, IC Markets offers institutional accounts.

Our Insights

IC Markets offers multiple language support and a variety of educational resources, webinars, and an affiliate program, making it an attractive broker for traders from diverse regions. Additionally, the broker provides access to numerous global financial markets, supporting traders worldwide.

Safety and Security

IC Markets operates under the regulation of the Financial Services Authority (FSA) of Seychelles, which ensures that it adheres to strict compliance protocols and provides a secure trading environment for its clients. The FSA is responsible for overseeing financial services in Seychelles, ensuring fair and transparent markets. IC Markets’ adherence to these regulations means that clients’ funds are handled with the utmost security.

IC Markets complies with the Seychelles Securities Act, implementing internal risk management controls to ensure adequate capitalization and operational efficiency. External audits further confirm the broker’s commitment to full regulatory compliance. Additionally, client funds are segregated into accounts with top-tier banking institutions to provide an extra layer of security. IC Markets also adheres to Anti-Money Laundering (AML) regulations and has robust KYC (Know Your Customer) policies in place to prevent illicit activities.

With these measures in place, traders can engage in a secure and transparent trading environment with IC Markets.

Frequently Asked Questions

Is IC Markets regulated?

Yes, IC Markets is regulated by the Financial Services Authority (FSA) of Seychelles under License NO SD018, ensuring it operates in compliance with strict regulatory requirements.

Are client funds segregated at IC Markets?

Yes, IC Markets holds client funds in segregated accounts with top-tier banking institutions, providing an added layer of security for clients.

What measures does IC Markets take to prevent money laundering?

IC Markets adheres to the Seychelles Anti-Money Laundering and Counter-Terrorism Financing Act, implementing comprehensive policies and KYC (Know Your Customer) procedures to prevent money laundering and ensure compliance.

Does IC Markets undergo external audits?

Yes, IC Markets undergoes external audits to ensure that its operations and accounting processes are in full compliance with regulatory requirements.

Our Insights

IC Markets offers a high level of security for its clients, backed by strong regulatory oversight from the Seychelles FSA. The segregation of client funds, adherence to Anti-Money Laundering (AML) policies, and rigorous external audits ensure that IC Markets operates in a transparent and secure environment. Traders can feel confident knowing that IC Markets is committed to providing a safe trading experience.

Minimum Deposit and Account Types

IC Markets offers a range of account types suited for traders with varying needs and experience levels. The minimum deposit for all account types is $200, making it accessible for both new and experienced traders to get started. The broker provides several account options, including the Raw Spread accounts (available on MetaTrader and cTrader platforms) and the Standard account, each offering different benefits based on your trading style.

• Raw Spread Account: Known for some of the lowest spreads, the Raw Spread account provides spreads from 0.0 pips, with a small commission fee starting at $3 per 100k traded. This account is perfect for day traders, scalpers, and users of Expert Advisors (EAs).
• Standard Account: The Standard account offers a commission-free experience with spreads starting at 0.8 pips. This is ideal for discretionary traders who prefer not to pay additional commissions.
• Islamic Account: For traders who need a Sharia-compliant account, IC Markets offers an Islamic version of its Raw Spread account.

All accounts come with access to the popular MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader platforms, ensuring flexibility for traders to choose the platform that suits them best. Leverage of up to 1:1000 is available, and clients can trade micro-lots (0.01), which offers great flexibility in managing risk.

Frequently Asked Questions

What is the minimum deposit required to open an account with IC Markets?

The minimum deposit required to open an account with IC Markets is $200.

What types of accounts are available at IC Markets?

IC Markets offers the Raw Spread account, Standard account, and Islamic account options. The Raw Spread account is available on both MetaTrader and cTrader platforms.

Are there any commissions with the Standard account?

No, the Standard account does not charge any commission. It operates with a spread starting at 0.8 pips.

Can I use MetaTrader or cTrader with IC Markets?

Yes, IC Markets provides both MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader platforms for traders to use based on their preferences.

Our Insights

IC Markets offers flexibility with its account types, catering to traders who require low spreads, commission-free options, or Sharia-compliant trading accounts. With a reasonable minimum deposit of $200, the broker allows both new and experienced traders to access the markets. The range of platforms and high leverage further enhance the trading experience, making IC Markets a great choice for a variety of trading styles and preferences.

How To Open an IC Markets Account

To register an account with IC Markets, follow these easy steps:

• Navigate to the IC Markets Website and choose the green “Open a Live Account” option.
• Choose the account that best suits your requirements.
• Complete the application form.
• Fund your account
• Download Your Trading Platform

Select your desired platform and download the program to your computer or mobile device.

Trading Platforms and Software

IC Markets offers three advanced and highly regarded trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. Each platform is designed to cater to the needs of different traders, providing reliable and adaptable environments for trading across various financial markets.

• MetaTrader 4 (MT4): Known for its dependability and flexibility, MT4 is ideal for traders who rely on advanced charting, technical analysis, and automated trading through Expert Advisors (EAs). The platform’s extensive library of indicators, custom scripts, and plugins offers traders the ability to personalize their trading experience based on specific strategies.
• MetaTrader 5 (MT5): Building upon the success of MT4, MT5 introduces enhanced analytical tools, more timeframes, superior charting features, and multi-asset functionality. It facilitates seamless trading across Forex, stocks, and futures markets, while also offering advanced order management features and in-depth market views to help traders make informed decisions.
• cTrader: A highly intuitive and user-friendly platform, cTrader excels in providing transparent trading conditions with Level II pricing and quick order execution. It supports advanced charting and algorithmic trading, making it a great choice for professional traders and those who require customized automated strategies. cTrader is also known for its efficiency and robust performance, especially when executing more complex trading strategies.

Each platform is designed to support both novice and experienced traders, with various features tailored to meet diverse trading needs.

Frequently Asked Questions

What platforms does IC Markets offer for trading?

IC Markets offers three platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. Each platform caters to different trading preferences and requirements.

What are the main features of MetaTrader 4?

MetaTrader 4 is known for its advanced charting tools, technical indicators, and automated trading capabilities through Expert Advisors (EAs). It is highly customizable to suit various trading strategies.

How does MetaTrader 5 differ from MetaTrader 4?

MetaTrader 5 builds on MT4’s success by offering additional timeframes, superior charting tools, more indicators, and the ability to trade across multiple assets, including Forex, stocks, and futures. It also provides enhanced order management features and depth of market views.

What makes cTrader a popular choice for professional traders?

cTrader is recognized for its user-friendly interface, Level II pricing, swift order execution, and advanced charting. It also supports algorithmic trading, making it ideal for traders looking for efficiency and transparency in their trades.

Our Insights

IC Markets provides the tools and flexibility needed for successful trading across various markets.

Markets Available for Trade

IC Markets offers the following Trading Instruments and Products:

• 64 currency pairings for trading
• 22 commodities
• 25 indices
• 11 distinct bond instruments
• 18 cryptocurrency alternatives
• 1,600 stocks

For individuals interested in derivatives, IC Markets provides four futures contracts that may be utilized to speculate or hedge on future price fluctuations of the underlying assets, such as commodities and indexes.

Are bonds available for trading?

Yes, IC Markets provides bond CFDs, which enable traders to bet on the performance of various government debt assets.

Fees, Spreads, and Commissions

IC Markets is renowned for offering some of the lowest fees, spreads, and commission structures in the trading industry. The broker’s Raw Spread accounts provide spreads starting from 0.0 pips, which are among the tightest in the market.

Traders are charged a commission starting at $3.50 per lot (per side) for the Raw Spread account on MetaTrader, while cTrader users pay $3 per 100k traded.

• Raw Spread Account (MetaTrader): Offers spreads from 0.0 pips with a commission of $3.50 per lot (round turn). This account type is ideal for day traders and scalpers who rely on low spreads and minimal trading costs.
• Raw Spread Account (cTrader): Offers spreads from 0.0 pips with a commission of $3 per 100k round turn, designed for traders who prefer cTrader as their platform.
• Standard Account: This account charges no commission, with spreads starting at 0.8 pips. It is suited for traders who want to avoid additional fees while still benefiting from a competitive spread.

These competitive pricing models combined with the availability of various account types make IC Markets a strong choice for those looking for cost-efficient trading.

Frequently Asked Questions

What are the spreads like with IC Markets?

IC Markets offers spreads starting from 0.0 pips on the Raw Spread accounts, making it one of the most cost-efficient brokers.

Is there a commission for trading with the Raw Spread account?

Yes, the Raw Spread account charges a commission of $3.50 per lot on MetaTrader (round turn), and $3 per 100k traded on cTrader.

What are the spreads for the Standard account?

The Standard account has spreads starting from 0.8 pips and does not charge any commissions.

Is there a fee for withdrawals?

IC Markets does not charge a withdrawal fee, but it may depend on the payment method you choose.

Our Insights

IC Markets provides some of the lowest spreads and competitive commission rates in the industry, making it a preferred choice for traders who focus on minimizing their trading costs.

The Raw Spread account, in particular, offers exceptional value with spreads from 0.0 pips and low commissions, ideal for scalpers and active traders. The Standard account, with no commission and competitive spreads, is also a great option for traders who prefer a simple, cost-effective approach.

Leverage and Margin

Leverage and margin are key concepts in forex trading, impacting both risk and reward. IC Markets offers various leverage options and educational resources to help traders navigate these concepts.

Leverage allows you to control larger positions with a smaller deposit. For example, with 1:100 leverage, you can control $10,000 with only $100 in your account. While leverage boosts potential profits, it also increases risk.

Margin is the money required to open and maintain a leveraged position. It acts as a security deposit, and with higher leverage, the margin required is smaller. However, a lower margin means your account equity can be wiped out faster if the market moves against you.

Frequently Asked Questions

What is leverage in forex trading?

Leverage allows traders to control a larger position than their account balance would typically allow, amplifying both potential profits and risks.

How does margin work with leverage?

Margin is the amount of capital needed to open and maintain a leveraged position. Higher leverage means a smaller margin requirement, but it also increases risk if the market moves unfavorably.

What is the leverage offered by IC Markets?

IC Markets offers leverage up to 1:500, allowing traders to choose a ratio that aligns with their risk tolerance and trading style.

How can I calculate margin requirements at IC Markets?

Margin requirements depend on your account currency, the currency pairs you trade, and the leverage you select. IC Markets provides detailed formulas and examples to help you calculate the required margin for each trade.

Our Verdict

Leverage and margin are integral to forex trading, and understanding these concepts is essential for effective risk management. IC Markets offers flexible leverage options, allowing traders to amplify potential returns while managing their risk exposure. However, it’s crucial to use leverage responsibly, as it can also increase losses.

The platform’s educational resources help traders make informed decisions about leverage and margin, making it a valuable tool for both novice and experienced traders.

Deposit and Withdrawal

IC Markets offers a variety of convenient deposit and withdrawal methods, ensuring that traders can easily fund and access their accounts. You can deposit using Bank Wire, Credit/Debit Cards, Cryptocurrency Wallets, or e-wallets like PayPal, Skrill, and Neteller. Withdrawals follow the same methods, with some additional security measures in place.

Importantly, IC Markets does not charge fees for deposits or withdrawals, though fees from financial institutions may apply.

Frequently Asked Questions

How do I deposit funds into my IC Markets account?

You can deposit via Bank Wire, Credit/Debit Cards, Cryptocurrency Wallets, or e-wallets. Simply log into your IC Markets account, choose the desired method, and follow the instructions.

Can I withdraw my funds to a different payment method than my deposit?

No, IC Markets requires that withdrawals be made using the same method as the deposit, by anti-money laundering regulations.

Are there any fees for deposits or withdrawals at IC Markets?

IC Markets does not charge any fees for deposits or withdrawals, but your financial institution may apply its own fees.

How long does it take to process a withdrawal?

Withdrawal processing times vary based on the method used. Bank wires and credit/debit card withdrawals may take several business days, while cryptocurrency and e-wallet withdrawals are generally faster.

Our Insights

IC Markets provides a range of deposit and withdrawal options that cater to different trader preferences, including traditional bank methods and modern cryptocurrency wallets. The absence of IC Markets fees for these transactions is a significant advantage, though traders should be mindful of any charges from their financial institutions.

The security measures in place ensure a smooth and secure transaction process, making IC Markets an excellent choice for traders seeking flexibility and efficiency.

Educational Resources

IC Markets offers a comprehensive education center to help traders of all levels master forex and CFD trading. From video tutorials to detailed guides on the basics of forex and CFDs, the platform provides valuable resources designed to enhance your trading skills.

Whether you’re just starting or looking to refine your strategies, IC Markets’ educational materials cover everything from market fundamentals to technical and fundamental analysis.

Frequently Asked Questions

What kind of educational resources does IC Markets provide?

IC Markets offers video tutorials, Web TV, and in-depth guides to help traders understand forex and CFDs, as well as learn how to use their trading platforms effectively.

Is the education at IC Markets suitable for beginners?

Yes, IC Markets provides educational content tailored to all skill levels, including basic concepts about the forex market, technical analysis, and how CFDs work.

What are the advantages of trading forex?

Forex trading offers low transaction costs, high liquidity, and 24/5 market accessibility. It’s also one of the last true arenas for fair competition and price discovery.

What benefits do CFDs offer to traders?

CFDs allow traders to profit from both rising and falling markets, with access to a wide range of assets like indices, stocks, and commodities, making them a popular choice for traders.

Our Insights

IC Markets offers an excellent range of educational tools that are perfect for traders at any level. Their comprehensive video tutorials, guides, and platform walkthroughs ensure that traders can enhance their knowledge and skills effectively. With a solid understanding of forex and CFD trading, coupled with the right tools, traders can make informed decisions and improve their trading success.

Pros and Cons

In Conclusion

IC Markets is a reliable and competitive broker for traders seeking low-cost trading options, high leverage, and a broad range of assets. Its robust regulatory framework and commitment to investor protection give traders confidence. The diverse range of supported currencies, trading platforms, and educational resources make IC Markets an attractive choice for beginner and advanced traders.

Its efficient withdrawal and deposit options and the absence of most fees further enhance the user experience.

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