IC Markets is a reputable and established online trading brokerage based out of Sydney Australia (Regulated by ASIC). The company was founded in 2007 and is owned and operated by International Capital Markets PTY, with their headquarters locates at Level 6 309 Kent Street Sydney, NSW 2000.
The online broker is well known in Australia and is considered to be the best online brokerage available in the Country as it offers the highest available leverage in Australia, low spreads and fees, and much more.
The trading brokerage strives to bridge the gap between retail clients and big institutional investors by offering investment solutions that were once only offered by investment banks and high net worth individuals.
IC Markets primarily offers their traders forex trading, but also delves into some choices of futures, indices and commodities.
Regulation & Reputation of IC Markets
The IC Markets brokerage became licensed and regulated by the Australian Securities & Investments Commission (ASIC) in 2009 under licence number 335692.
The brand is known as one of the most reputable online trading brokers on the market. ASIC is a trustworthy and strict regulatory agency which imposes stringent guidelines and procedures for the platform to follow.
Also, in addition to ASIC regulation, the brokerage is a member of the Financial Ombudsman Service (FOS). This service allows clients of IC Markets to resolve any complaints they have in a prompt and professional fashion.
This gives traders an additional layer of protection and customer satisfaction by knowing they will be protected if any issues were to arise.
IC Markets also operates via two other regulated brands:
- IC Markets (SC) is owned by True ECN Trading Ltd and regulated by the FSA in the Seychelles.
- IC Markets (EU) is provided for European traders and is regulated by CySec (and conforms to recent ESMA restrictions on leverage etc).
These brands offer traders to ability to seamlessly move between each, allowing them to choose the level of regulatory oversight and protection they are comfortable with
Learn More About IC Market’s Trading Platforms
IC Markets offers their traders not one, but three high quality trading platforms to choose from. By offering three different trading platforms, traders are blessed with having a myriad of tools and analysis methods to execute their trades.
See the available platforms below.
The most popular trading platform with IC Markets is MetaTrader 4. The MetaTrader 4 platform provides traders with 1-click trading solutions and includes customisations for market depth analysis.
The platform features a number of technical indicators, advanced charting tools, a wide range of Expert Advisers and extensive back-testing options.
In addition, traders can trade on the go with MetaTrader4’s mobile apps for both Android and Apple, and also from any desktop via the web-based MetaTrader platform.
This platform is the most recent of the MetaTrader series, and basically is an upgraded and expanded version of the MetaTrader4 platform.
This trading platform is custom made for an ECN trading environment. This includes automated trading software and is available on mobile desktop and the web.
Traders who want to use auto-trading have three options to choose from; ZuluTrade, Myfxbook’s AutoTrade and Signal Trader’s mirroring technology.
IC Markets provides their traders with 3 different account types tailored made to accommodate each trader’s needs. Traders can choose from a “Standard”, “True ECN”, or a “cTrader ECN” account. The accounts have their differences, but basically all offer the same features.
The True ECN account offers slightly lower spreads – but they are very low across all the accounts. In addition to these accounts, traders can also practice trading on with IC Markets via their live demo account.
This account allows the trader to practice using virtual money in a live market environment.
Details of Bonus & Promotion
Unfortunately, IC Markets do not offer their traders any sort of bonuses. However, this should not be viewed as a bad thing. The brokerage has built a strong reputation and are rightly proud of their offering.
They do not want to encourage overtrading, or misrepresent their products via incentives.
Assets And Trading Instruments
The IC Markets trading brokerage does not fall short in offering their clients a wide range of trading instruments and assets. The brokerage offers over 80 instruments including currency pairs, CFDs on indices, stocks, commodities and futures, precious metals, and even the most popular cryptocurrencies, such as Bitcoin and Ethereum.
Forex is a huge part of the IC Markets offering. The majority of the 90+ assets available to trade are currency pairs. This is backed up with leverage of up to 500:1, lot sizes from just 0.01 (maximum lot size is 1, but traders can trade multiple lots).
On the cTrader platform, spreads can be reduced to 0.0, minimising commission and spread costs for frequent traders. Average spreads are extremely low, just 0.1 pips for EUR/USD for example. This can have a huge effect on day trading profits.
Consulting and Customer Support
IC Markets excels in the area of customer support. They offering their clients multilingual support 24 hrs a day, 5 days a week via live chat, email, or through their global telephone support hotline. In addition to this, there is an informative support centre where user can find the answers to most of their questions.
Deposit & Withdrawal Instructions
IC Markets offers their traders a wide variety of deposit options in 10 different currencies. These include AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, and CHF. As for deposit options, they include Credit and Debit Cards, Bank Wire Transfers, Broker to Broker transfer, Branch Cash Deposit, BPay Deposit, PayPal, Skrill, Neteller, WebMoney, QIWI, China Union Pay, and FasaPay.
Most of these deposit methods are instant and can be done with multiple currencies.
Withdrawals can be made via many of the same methods as deposits. Domestic bank transfers and e-wallet withdrawals can be processed within the same business day and are free of charge. As for international withdrawals, they can take up to 3-5 business days and cost $25 AUD.
Are IC Markets Best for Day Trading?
IC Markets is a great brokerage for day trading due to several factors:
- Low Spreads – Active, frequent traders know the importance of reducing the cost of trading. With average spreads of just 0.1 on EUR/USD for example, day traders do not have profits eroded by high commission or trading costs. IC Markets are therefore a good choice for high frequency trading.
- Education – The brokerage features numerous video tutorials with the focus on educating traders on the various aspects of day trading. As well, they provide many articles and guides to help their traders.
- Trading Tools – The broker features advanced charting and analysis tools and calculators. As well as a variety of technical indicators used for technical analysis.
- Range of assets – There is a massive array of assets to choose from, which makes this brokerage great for day traders who are just beginning or seasoned veterans