This IC Markets review has been updated for 2021. In this review, we break down the pros and cons of choosing IC Markets as your broker.
We have covered several aspects of using IC Markets. These include IC Market’s fees, what they offer, the withdrawal options, and what countries they are available in. We also specify the regulatory bodies that IC Market comes under, among other details.
Read In-Depth IC Markets Review
IC Markets is a Forex CFD provider based in Australia. They offer services globally and have several branches. They are a reputable forex broker that was founded in 2006.
They offer multiple trading options for active day traders and scalpers. With good liquidity, they offer pricing options that meet those available to investment banks and individuals of high net worth.
Finding a good Forex broker online is often a complicated task. Websites often offer extensive services; it may be difficult for you to find one that meets your specific needs. Further, you will have to read through various brokers’ websites, and this can be a tedious task.
findabroker.online makes it easier for you by explaining the pros and cons of IC Markets in an easy to understand format. We also ensure that you know what IC Markets offers and whether this will fit your trading needs and strategy.
Further, a good broker must be reliable and regulated. We give you an idea of whether IC Markets is regulated and how this affects your trade. It is also important to know that they are regulated, as this will avoid any chances of you losing your invested money.
Read ahead for our comprehensive IC Markets Review and why you may want to opt for them.
Benefits when Trading with IC Markets
There are several benefits of trading with IC Markets. Read ahead to find out.
- IC Markets offer the lowest possible spreads to their clients. These, along with relationships with reliable liquidity providers, are made available in all market conditions.
- They provide reliable technology settings to execute prompt orders.
- They provide iPhone and Android applications that have been built with the latest trading tools.
- IC Markets allow scalping, hedging, and automated training options.
- They offer flexible leverage options up to 1:500.
- Their raw spread accounts begin from a spread of 0.0 pips.
- They accept deposits in 10 major currencies.
- Their trading sizes begin from a micro lot with 1000 base currency. This can go up to 200 lots with 25 million base currency.
- Their customer service team offers all-round service for 24 hours, 7 days a week.
- They are a regulated trading platform and are regulated by the Financial Services Authority of Seychelles (FSA).
- Client funds are held with Australian bank accounts in segregated client trust accounts. These funds are not tampered with and not used for any operational expenses.
- A low minimum deposit of $200.
- They have trading options in Forex, CFD, and cryptocurrency.
- It’s simple to open an account.
- You can deposit currency using debit cards, credit cards, and electronic wallets.
- A demo account is also available.
- The three different trading platforms available offer multiple options for various analysis methods.
- IC Markets cannot be used by traders from the United States, Zimbabwe, Iran, Iraq, Cuba, Canada, Ghana, Cote D’Ivoire, Togo, Cuba, Niger, and Liberia.
- IC Markets are known enough to have a Wikipedia page. A Wikipedia page adds to the good reputation of this platform. Read more about them on the IC Markets Wikipedia page.
By the end of this IC Markets Review, you will be able to figure out whether IC Markets is the trading platform for you. Further, we decode the trading nuances on IC Markets to show you that it can be interesting and uncomplicated.
What You Should Know About Trading with IC Markets?
With IC Markets, you can trade in Forex, CFD, and cryptocurrency and Futures. You will need a minimum deposit of $200 and can trade a minimum quantity of 0.01 lots.
You can open a demo account with IC Markets and practice your trade before you tackle the real deal. You will also have options to auto-trade. It offers three platforms of MetaTrader4, MetaTrader5, and CTrader. They’re each made for specific environments with a range of technical analysis tools made available. For instance, the CTrader is made for Electronic Communication Network (ECN) environments that give traders access to other participants.
IC Markets provides a 101 series that aims at helping beginners familiarize themselves with trading and technical analysis. This helps beginners break the ice with the trading world. For experienced traders, the platform options add great value.
Is IC Markets Safe to Trade with or not?
IC Markets is considered one of the safest trading brokers with a good reputation to back them. In 2009, IC Markets received their license and regulation under the Australian Securities & Investments Commission (ASIC). The ASIC has a great reputation and is known as a strict body with good rules in place. Their guidelines and procedures keep IC Markets accountable.
You cannot trade in Forex without engaging in risk. However, ASIC regulations ensure that your funds are safe and that there is no malpractice involved. In addition to this, IC Markets is also a member of the Financial Ombudsman Service (FOS). This provides additional protection to clients. This is done by laying out clear processes for clients and IC Markets to follow if there are any issues. Clients can raise any queries according to FOS procedures.
Further, IC Markets do not tamper with any of the funds that you have deposited. These are kept in segregated bank accounts so that your money remains safe.
A demo account will let you get a feel for the platform before you begin actual trading. Through this, you can assess the risk involved in trading on IC Markets and further customize your safety needs.
Pros and Cons of IC Markets
As with other trading platforms, IC Markets has certain advantages and disadvantages of trading on their platforms. Read ahead to find out.
Several pros make IC Markets a great platform to trade on.
- The platform charges low Forex fees.
- Account opening is quick and easy. It is completed in as little as a day.
- Withdrawal and deposit are free of cost.
- They provide three trading platforms for various Forex needs.
- Trading fees for the CFDs are low.
- There is a diverse range of cryptocurrencies with low spreads.
- The platform is regulated by ASIC and has a great reputation.
- They have limited product selection
- For clients outside the European Union, there is no provision for investor support.
- While they provide customer services 24 hours, seven days a week, their live chat sessions can be slow to respond during busy periods.
- The financing rates for the CFDs are relatively high.