Is IC MARKETS one of the best Australian Forex Brokers? We conducted an in-depth review in September 2021 to find out the answer and bring it to you!
With a strong global market presence and a well-established reputation as one of Australia’s largest online trading providers, IC Markets takes security very seriously. Authorised and regulated by the Australian Securities and Investment Commission (ASIC), they ensure that all client money is held safely in segregated client trust accounts in Australian banks. These funds are never used for anything other than to cover the positions opened by their clients.
IC Markets base their core values on trust and transparency. They are a True ECN broker, so there is no dealing desk or other form of trade intervention between the client and the market. All trades are processed straight through to their ECN and LPs, which means clients trade in the real interbank Forex market.
Each of IC Markets’ trading platform use high-level web security. Partnering with the world’s best trading technology companies to bring their customers the ultimate trading environment and cutting edge trading tools, IC Markets offers some great tools including Depth of Market (DoM), inbuilt spread monitoring, ladder trading, automated close of trades with custom order templates and many more.
IC MARKETS REVIEW MARGINS AND COMMISSIONS
- Spread mark-ups on Standard acc
- Max leverage: 500:1
- $3.50 commission per standard lot on ECN account
As is the case with all Forex and CFD brokers, Forex traders pay fees in form of a spread on every non-equity CFD and commissions on every equity CFD trade.
Our IC Markets review reveals that IC Markets’ Standard Account runs without any commission fees but, instead, spreads are marked up by an average of 1 pip above the inter-bank rate received from the liquidity providers.
The ECN account shows the raw inter-bank spread received from liquidity providers and a commission fee of $7 per standard lot round turn applies when using this account. No additional fees are charged for trading index, crypto or share CFDs.
Commodity CFD spreads start at 0.3 points with minimum margin requirements of just 1.0% on oil (Brent Crude or US Crude (WTI)) or 2.5% on heating oil as examples.
IC MARKETS TECHNOLOGY AND TRADING PLATFORM
- Excellent trade execution
- True ECN broker; MT4, MT5 & cTrader
- 1-click trade monitor
- VPS available
The company IC Markets has partnered with the world’s best trading technology companies to bring their patrons the ultimate trading environment with cutting edge trading tools. Traders can, for example, make use of tools such as Depth of Market (DoM), inbuilt spread monitoring, ladder trading, automated close of open positions with custom order templates, and more. Their iPhone and Android trading applications have been optimised to provide the best possible mobile trading experience.
IC Markets offer reliable and fast execution through systems that have been specifically built to cope with a large number of orders at any given time. All trading platforms are also able to handle high volumes of traffic. Servers are located in the Equinix NY4 data centre in New York.
Other great technological offerings and technical analysis tools that are available to IC Markets’ customers include, for example, additions to MetaTrader 4, such as a one-click trade module, spread monitor, charting, drawing and price index tools, trade risk calculator, market depth, range of indicators and advanced order types that have previously not been available to retail clientele.
Their ECN trading environment allows traders to make use of some of the tightest spreads of all Forex brokers worldwide as well as many other great features, which are outlined in more depth below.
Giving their customers the option to either use MetaTrader 4, MetaTrader 5 or cTrader platform as their trading platforms of choice, IC Markets designed one of the first effective ECN trading environments. This offering has no restriction on trading including no minimum order distance (orders can even be placed within the spread), as well as scalping, hedging and automated trading all permitted. Their ECN account spreads start at 0.0 pips with flexible leverage options offering up to 500:1.
IC Markets’ MT4, MT5 and cTrader trade servers are located in the NY4 & LD5 IBX Equinix Data Centres in New York and London respectively, providing their clientele with the fastest possible execution speeds. Equinix data centres are known globally for their secure and reliable low latency infrastructure.
High-volume traders who are looking for an integrated trading environment and access to deep liquidity can also gain access to market data and easily manage orders using IC Markets’ FIX API, which guarantees ultra-high speed and low latency execution. Trading fees can be reduced when applying for an account through our IC Markets review and sending us a message via our Rebates section.
The cTrader Algo allows to build and deploy your personal C# automated trading systems on the cTrader cAlgo platform with its user-friendly and intuitive GUI and API.
IC MARKETS CUSTOMER SERVICE AND CLIENTS
- 24/5 customer service
- Global presence with huge client base
- 4 trading account options
- Islamic Shariah compliant (Swap free) account available
International Capital Markets has clientele all over the globe and offers great customer support 24/5 through live chat, online help, a comprehensive FAQ section, phone hotline and email.
Customers can choose between three distinctly different account types upon sign-up: The Standard MetaTrader 4 or MetaTrader 5 account with no commissions and a minimum spread of 1.0 pip, the ECN MetaTrader 4 or MetaTrader 5 account with spreads from 0.0 pips (for example on the heavily traded EUR/USD pair), or the cTrader account with spreads as low as -0.3. These true ECN account options come with trading fees that are at a highly competitive market level. Shariah-compliant (Swap free) Islamic accounts are also available. IC Markets also offer the option to open a Demo Account for trading with no minimum deposit requirement or fees charged.
Apart from a large selection of currency pairs and commodities, IC Markets also offers a decent range of indices from around the globe including the Australian S&P 200 Index, UK FTSE 100 Index, US E-mini S&P 500 and US DJIA Index.
In total, more than 60 currency pairs (Forex), 6 cryptocurrencies, 100+ stocks, 16 indices, over 19 commodities plus bonds and futures can be traded with IC Markets.
Available payment methods include: Credit cards and debit cards, Paypal, Skrill, Neteller, Webmoney, QIWI Wallet, fasapay, China Union Pay, BPay, bank transfer / bank wire and broker to broker transfers.
A comprehensive news and educational section is available to all traders. It features video tutorials, Web TV and other supporting material concerning Forex and derivatives trading. An economic calendar further helps to navigate and plan for important economic events, including historic and consensus data to base decisions on.
FOREX, CFDs AND FINANCIAL INSTRUMENTS AT IC MARKETS
- 60+ currency pairs & 6 cryptos
- 100+ stocks
- Over 19 commodities
- 16 indices CFDs + bonds & futures
Our IC Markets review highlights that the company is offering Forex trading over 60 currency pairs, 6 cryptocurrencies, 100+ stock / share CFDs, 16 indices, over 19 commodities plus bonds and futures.
Traders can choose to trade on the above-mentioned options on some of the world’s top markets such as the Australian S&P 200 Index, UK FTSE 100 Index, US E-mini S&P 500, US DJIA Index, Germany 30 and Hong Kong 50.
IC Markets offers leverage of up to 500:1, 10 different funding currencies including AUD, EUR, USD, GBP, SGD JPY, CHF and NZD, micro-lot trading starting from 0.01 and ultra-low spreads of 0.0 pips. Customers can start trading with minimum deposits from $200 and variable fees depending on the selected account option.
SPECIAL FEATURES AND MAXIMUM LEVERAGE OF IC MARKETS
- True ECN broker
- Top-notch technology including unique MT4 add-ons
- Ultra-tight spreads & maximum leverage of 500:1
- CNS VPS offering
One of the world’s top ECN Forex brokers, providing trading solutions for active day traders and scalpers as well as traders who are new to the Forex market.
Very low spreads (for example on the popular EUR/USD pair), clear fees structure and high leverage up to 500:1 with all available account types.
Great selection of financial instruments including Forex, CFDs on indices, share / stock options, digital assets, ETFs, etc.
Top-notch technology including unique MetaTrader 4 add-ons and tools for technical analysis.
All trading styles are allowed including hedging, scalping and expert advisors (EAs).
Ultra-fast execution and connectivity through MT4, MT5 and cTrader trade servers located in the NY4 and LD5 IBX Equinix Data Centres in New York and London respectively.
Having teamed up with VPS provider Commercial Network Services (CNS), IC Markets clients have the option to trade from a CNS VPS with under 1-millisecond latency to IC M’s MetaTrader 4 server. The low latency is achieved through a cross connect between the CNS data centre and our MetaTrader 4 server. This is specifically beneficial for traders who utilise automated and high-frequency trading systems.
IC MARKETS OUR CONCLUSION
IC Markets is Australia’s no. 1 and one of the world’s leading online Forex brokers providing an exclusive ECN trading environment, top-notch technology features, numerous account types to choose from and excellent trading conditions. Our IC Markets review finds that the company offers a great selection of tradable instruments, including 6 cryptocurrencies and share CFDs, as well as a strong customer support service.
IC MARKETS’ FREQUENTLY ASKED QUESTIONS
where is ICM located?
IC Markets, also known as International Capital Markets Pty Ltd) is an Australian based, owned, and ASIC regulated ECN Forex broker. The company further maintains an office in Nicosia, Cyprus, enabling them to serve customers around the globe 24/5 via live chat and additional facilities.
who owns International Capital Markets Pty Ltd?
IC Markets was founded in 2007 in Sydney, Australia, by entrepreneur Andrew Budzinski.
how to fund a trading account?
IC Markets clients have the following funding options available:
Credit & Debit cards (VISA & Mastercard), PayPal, Neteller, Skrill, China Union Pay, QIWI, Neteller VIP, FasaPay, Wire Transfer, BPay, Poli, Thai Internet Banking, Klarna, Rapidpay, Bitcoin wallet, Broker to Broker Transfer
is IC-Markets regulated?
Yes, IC Markets is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services License (AFSL 335692).
what timezone do they operate in?
They maintain offices in Australia (GMT +11) and Cyprus (GMT +2) and is therefore able to service clients around the globe during business hours 24/5.
IC Markets withdrawal methods?
Withdrawal options include:
Deposits and withdrawals are available for: Credit & Debit cards (VISA & Mastercard), PayPal, Neteller, Skrill, Neteller VIP, Wire Transfer
is there a withdrawal limit at IC Markets?
There are no minimum or maximum withdrawal limits with IC Market.
does IC Markets accept clients from Canada?
No, IC Markets don’t accept applications from residents of Canada.
does IC Markets offer a Forex VPS service?
IC Markets offers four of the world’s leading and best Forex VPS service providers:
Commercial Network Services (CNS), Beeks FX VPS, Forex VPS and New York City Servers (NYC Servers).
is IC Markets a True ECN broker?
Yes, IC Markets are a True ECN Forex broker.
what trading account types does IC Markets offer?
ICM offers the choice between two different account options. Their Raw Spreads Account shows the real (raw) inter-bank spread received from ICM’s liquidity providers. This account type comes with a commission charge of $7 per standard lot round turn. The Standard Account, on the other hand, runs without any commission charges but instead, there is a spread mark-up applied to the spread of 1 pip above the raw Inter-bank rate received from ICM’s liquidity providers. Swap-free (Shariah law compliant) accounts are also available. After selecting the account type of choice, traders can then select which trading platform they wish to utilise.
is IC Markets FCA regulated?
No, IC Markets is licensed and regulated by the Australian Securities and Investments Commission (ASIC), who are recognized as one of the toughest regulators in the financial services industry worldwide.
is IC Markets affected by ESMA regulation?
No, as an Australian based and ASIC regulated broker, IC Markets does not need to comply with ESMA regulation and limits.
for what type of trader is IC Markets suitable?
No matter if you are new to the Forex and CFDs trading, if you have been involved in the financial markets before or if you are a professional trader, you will find a great product portfolio combined with excellent support and an overall great trading environment. Most popular trading styles such as hedging, scalping or using EAs (Expert Advisors) are allowed with all IC Markets trading accounts.
can I lose money when I trade with IC Markets?
Yes, trading derivatives carries a high level of risk to your capital and there is high risk to losing your money. You should, therefore, only trade with money you can afford to lose. Trading derivatives and the foreign exchange market may not be suitable for all types of investors, so please ensure that you fully understand the high level of risks involved and seek further independent advice if necessary. Please also make sure to read through all available legal advice on IC Markets’ website I you have any questions or concerns.
is IC Markets reliable?
Yes, in our independent review we conducted multiple tests in regard to their online presence, security, tools, features and client support. IC impressed with fast and professional customer service, swift payment processing and other important factors.
IC Markets can also be deemed as reliable because they hold client money in segregated trust accounts with several AA rated Australian banks. Client money is diversified in segregated trust accounts across multiple banks to reduce the credit risk and counterparty exposure.
which trading platforms does IC Markets offer?
ICM currently offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5), MT WebTrader, MT iPhone/iPad, MT Android and MT Mac from Metaquotes as well as the sophisticated cTrader suite of platforms for web, iPhone/iPad and Android devices.
is this a genuine and independent IC Markets review?
Yes, absolutely! This IC Markets and all other broker reviews on this website are conducted fully independently by a team of professionals.
brokers like IC Markets?
Pepperstone is another Australian based and ASIC regulated Forex broker with a strong offering and excellent trading conditions. Unlike IC Markets, Pepperstone needs to comply with ESMA rules for their European clients because they are also regulated by the FCA of the UK.