IC Markets Review

  • Leverage: 1:500

  • Regulation: ASIC, CySEC

  • Min. Deposit: 200 US$

  • HQ: Australia

  • Platforms: cTrader, MT4, MT5

  • Found in: 2007

IC Markets Licenses

  • IC Markets - authorized by ASIC (Australia) registration no. ACN 123 289 109. AFSL 335692
  • IC MARKETS (EU) LTD - authorized by CySEC (Cyprus) registration No 362/18
  1. What is IC Markets?
  2. Is IC Markets safe or a scam?
  3. Leverage
  4. Accounts
  5. Fees
  6. Market Instruments
  7. Deposits and Withdrawals
  8. Trading Platform
  9. Customer Support
  10. Education
  11. Conclusion

What is IC Markets?

The company was incorporated in Sydney, Australia in 2007 by a team of financial professionals who aimed to bridge the gap between retail and institutional clients offering trading solutions. Recently, the broker grows to one of the leading trading providers in Australia and also expand beyond as serves international and European entity, also establish a Chinese Support centre and proposes truly competitive trading conditions.

ProsCons
Fully regulated broker Trading proposal and conditions vary according to regulation
Advanced range of trading products, CFD tradingOffshore entity
Raw spread and standard accounts
MT4, MT5 and cTrader platforms
Education on Free basis
24/7 Support

IC Markets website

10 Points Summary
🏢 HeadquartersAustralia
🗺️ RegulationASIC, CySEC
🖥 PlatformscTrader, MT4, MT5
📉 InstrumentsFX, Equities, Commodities, Futures CFDS, Stocks and Bonds, Crypto trade
🎮 Demo AccountAvailable
💳 Minimum deposit200 US$
💰 EUR/USD Spread1 pip
💰 Base currencies10 currencies offered
📚 EducationIncluded on a free basis
☎ Customer Support24/7

What type of broker is IC Markets?

IC Markets is an ECN trading environment provider that brings true spreads from 0.0 pips from the liquidity suppliers from over 50 different banks and dark pool liquidity sources across 60 forex pairs. IC Markets is a choice for high volume traders, scalpers, EA traders and robots that can enjoy no dealing desk with no manipulation at the prices.

The execution brings speeds and low latency through fiber optic connects traders orders to the market by servers in the NY4 & LD5 IBX Equinix Data Center New York and London.

IC Markets liquidity providers

Is IC Markets safe or a scam?

IC Markets considered being a safe broker, as the licensed and regulated trading companies are constantly overseen and audited by the external reputable authority.

ProsCons
CySEC and ASIC regulated international brokerInternational proposal runs through offshore entity
Global coverage and years of operation
Professional Indemnity Insurance

Is IC Markets legal?

In the case of IC Markets, the broker is incorporated in Australia it does its service regarded by the Australian Securities and Investments Commission (ASIC) license (read more why trade with ASIC Brokers). In addition, IC Markets runs a regulated entity in Cyprus, therefore officially and legally operating trading service for European clients.

With a license and regulation from ASIC, which one of the strictest and most demanding financial regulators, IC Market traders can feel completely confident. The money protection provided through multiple regulated ways and includes the client money segregation while accounts accessed by the client only and used for the purpose of facilitating their own trading.

IC Markets Regulation

In addition, IC Markets is a member of the Financial Ombudsman Service (FOS), an approved Australian external dispute resolution scheme that fairly and independently resolves disputes between consumers and member financial services providers.

Leverage

IC Markets offering leverage up to 1:500 that opens the path to the forex market for Retail traders with a quite low or small initial deposit to cover margins. The use of leverage can magnify gains but you should always remember that losses can also exceed your initial deposit.

  • Maximum of 1:500 available for Australian clients
  • 1:30 allowed for European traders
  • 1:500 for an international proposal

Leverage is known as a loan given by the broker to the trader to enable trading with a bigger capital and increase potential gains. However, we would recommend to any trader use tool smartly and read carefully how to set up correct leverage to a particular instrument or trading strategy, as also leverage defined by the IC Markets entity and particular jurisdiction regulations. 

Accounts

As for the IC Markets account proposal, there are options either based on ECN connectivity with raw spread and commission as a trading fee, or Standard conditions with all fees in the spread.

ProsCons
Fast Account Opening, fully DigitalNone
3 Account types
Good options for a various trading style
Spread only or raw spread accounts
Micro Account and Islamic Account offered
10 Account Base Currencies

Account types

There are three main account types that are featuring the same compatibility and power provided by the company, yet are designed to meet the expectations and needs of different trading styles. Two first account offering raw spread condition and commission charge per trade also offering either MT4 platform of cTrader for your selection.

The accounts are available in multiple currencies, up to 10, are fully segregated from the company’s funds and supported by multi-lingual customer team. Additionally, traders that follow Sharia rules can sign for Swap free or Islamic account as an option at IC Markets too, along with risk-free demo account on both MT4 and cTrader that allows the practice of the trading strategy.

IC Markets accounts

Fees

So now let’s check on a difference between the trading fees on applicable accounts, as the fees slightly diverse based on the account type and platform you choose. Also, beware that various IC Markets entities in different jurisdictions may apply its own trading conditions, so be sure to check it out as well.

ProsCons
Low Forex feesConditions vary according to entity
Options between spread only or commission fee basisInactivity fee
0$ Withdrawal fee
Micro Lot trading available

Forex Fees

The Standard Account enabled through MetaTrader4 with CNS VPS Cross-Connect and spread only basis from 1.0 pips. While the True ECN account or Raw Account allows micro lot trading from 0.01 size, deep institutional grade liquidity, ECN spreads from 0 pips and commission of 3.50$ per 100k traded available at MT4 also.

Spreads on EURUSD averages at about 0.1 pips 24/5, which is as per the IC Markets expert advisors is currently the tightest average EURUSD spread globally.

cTrader ECN account offering approximately the same feature as MT4, but with the difference of the platform that is used by mainly professional traders of a bigger size. The applicable spread also starts at 0.0 pips and commission of 3.00$ per 100k traded that serves execution through Equinix LD5.

Trading Fees of IC Markets vs Similar Brokers
Asset/ PairIC Markets FeesAvaTrde FeeseToro Fees
EUR USD1 pip1.3 pip3 pip
Crude Oil WTI5 pip3 pip5 pip
Gold1 point4045
Inactivity feeYesYesYes
Fee rankingLowAverageHigh

Overnight Fee

IC Markets overnight fee or a swap rate determined by the overnight interest rate differential between the two currencies involved in the pair and whether the position is a buy ‘long’ or sell ‘short’. The fee originally varies from the currency to another, but you should always bear in mind its existence that may bring you either negative or a plus to your account.

Here is a snapshot of IC Markets fees

IC Markets spread

Trading Instruments

The markets offer includes a range that suite demands of any trader and include the major instruments to trade, along with new additions alike Cryptocurrencies. The asset classes consist of FX, Equities, Commodities, Futures CFDS, Stocks and Bonds. The IC Markets Crypto trade offers trading pairs with Bitcoin, Ethereum, Dash, Litecoin, Bitcoin Cash and Ripple, and allows go long or short with leverage 1:5 margin of 20% and the minimum lot of 0.01.

IC Markets instruments

Deposits and Withdrawals

IC Markets offers 10 flexible funding options in 10 major base currencies AUD, GBP, JPY, HKD, SGD, NZD, CHF, CAD, EUR, USD. Which is great, since you may choose the suitable one for you and avoid extra conversion fees.

ProsCons
No deposit feesConditions may vary according to regulations
Withdrawals free of charge
Wide range of payment methods supported by an international entity
Numerous base currencies

Deposit Options

From the client secure area, there is an ability to deposit or withdraw funds throughout

  • Cards,
  • PayPal,
  • Bank Transfer including local ones,
  • Neteller, Skrill, WebMoney, Qiwi,
  • China UnionPay, FasaPay and more.

What is IC Markets minimum deposit?

The Standard Account enabled through MetaTrader4, along with other two account types available at IC Markets are set with the minimum deposit of 200$ to start.

IC Markets deposit

Withdrawals

IC Markets does not charge additional fees for deposits or apply 0$ fee for withdrawals. Yet, for International Bank Wire withdrawals, IC Markets pass the transfer fees charged by the company banking institution, which is approximately AUD20 that is deducted from the amount of your withdrawal.

However, make sure at your payment provider about transaction fees that may incur on payments to and from some international banking institutions.

How long does it take to withdraw money from IC Markets?

Various payment methods will process withdraw money in its defined time, while IC Markets accounting team confirms transactions quite quickly within 1-2 business days.

Trading Platforms

Apart from the sophisticated technical optimization of the execution provided by leading technologies, the IC Markets offers advanced software proposals too. MetaTrader 4 and cTrader are two of the best trading platforms available in the market today, hence IC Markets have both options in their direct access to provided ECN trading environment.

Nevertheless, you can still trade through MetaTrader5 an updated and improved version that is packed with brand new features if you prefer so.

ProsCons
Mainstays on an industry known MT4 and MT5No proprietary platform
cTrader offered with raw spreads
Customer friendly design
Advanced range of tools
Automated trading and PAMM capabilities
No restrictions on strategies

Desktop Platform

There is no need to talk long about the platform’s features, as all and each of them delivers powerful trading features. Each of the platforms available in different versions suitable for use either via Web Platform or directly from your browser or you can install Desktop version and enjoy full customization MetaTrader or cTrader offers.

Overall, IC Markets truly brings trading into the next level by comprehensive tools, additions and extensions to the platforms such as a one click trade module, market depth, spread monitor, trade risk calculator and advanced order types previously not available on MetaTrader 4.

IC Markets platform

Mobile Platform

Mobile Apps are also available and are very useful for modern traders stay updated with market conditions on the go. Likewise, MT4, MT5 and cTrader are available via Android or iOS devices, also permitting account management and control over the positions.

Auto Trading

In addition, Auto trading compatible with all broker’s platforms, EAs at MT4 or MT5 myfxbook at cTrader platform and as an addition, ZuluTrade is available too. ZuluTrade is one of the best social trading platforms that allow to choose among thousands of talented traders and to follow their trading signals for free.

Moreover, if you are willing to go into the partnership with the broker there is an offer by MAM and PAMM multi-account management systems that are flexible and easy to use tools. FIX API delivers a great opportunity for high volume traders, while VPS (Virtual Private Server) allows running a variety of automated trading strategies with a possibility to get free VPS use (if a required minimum volume of 15 round turn (FX) lots per calendar month is reached).

Customer Support

IC Markets strives to offer not only the best technological solutions but understanding the necessity of good quality customer service and support. The broker support available 24/7 and runs customer offices in various regions, so that all global is covered with IC Markets available to answer or assist teams.

ProsCons
Quality customer support with live chatNone
Multilingual support with free Lines
24/7 Customer Service

IC Markets support

Education

Eventually, IC Markets team has a significant amount of experience within the forex industry, hence understands what traders want and need exactly. Educational materials provided on a free basis and allows to obtain a clear vision of the topic through regular technical analysis reports, video tutorials, informational tools, webinars and more.

Research tools are available as well, including inbuilt numerous analysis tools inside platforms, as well as offering IC Markets designed Market Analysis Blog, Economic Calendar and trading ideas available through platforms.

ProsCons
Free Unlimited Demo account None
Free Education
Wide range of trading tools
Economic Indicators and News Feed

Conclusion

As a general impression, the IC Markets brought a truly advanced trading offering, while you are able to choose from a wide range to tailor almost any trading parameter, which instrument to trade, a platform to use, account to open, to use auto trading or social trading, or even become a partner. Indeed, IC Markets technical optimization is among the strongest in terms of execution, platform optimization, the range of tools and provided support.

Along with true ECN and very competitive price strategy based on spread only or with lowest spreads but commission per trade, the broker delivers widen a range of markets to choose from, as well as a strong offering of Cryptocurrency. All that available and fully customized with the IC Markets broker.

Alternative forex broker you may check is FP Markets which is from Australia with ECN account offering.

Lastly, we will be happy to hear your own opinion about IC Markets, how you find their trading conditions and so. 

No news available.

19 responses to “IC Markets”

  1. Do you offer 1:500 leverage on retail accounts? I am experienced investor and a HNWI. I would open the account with €50000 in January rising to €100000 in February. I live in Spain and have professional advisers

  2. Be careful with icmarket they not more ECN broker really market maker
    They trade against you to pick your money

  3. Don’t create a account with this broker it’s really market maker and stolen only your money because hi trade against you really

  4. They are a scam house. Close my position when I am winning more than 500k usd and took away all the money in my account.

  5. Their server halt made my balance negative
    stop-loss in ICMarkets is actually nothing

    During the Corona volatility, one Monday morning, on the Asia session, I realized my balanced turned to -600 (was 1,100+) in about 5 minutes.

    I was online and my terminal was connected, but there were no movements on the charts (frozen), their servers were not responding to any command and my 1,100+ turned to -600.

    When I contacted their customer support they offered me to deposit the same amount of $600 and of course internal transfer is not accepted, in return they promised that they add this amount to my account so it will show balance = 600.
    So not only I lose 1000+ I have to deposit 600 more, from my pocket, just to become 0 !!!

  6. Hi, I’m in Mexico and I’d really appreciate if you help me with this questions:
    1) It is possible to open an account and trade from here?
    2) Do you have a Demo account?
    3) In case the first answer was affirmative: What would be the usual protocol and requests on funds withdrawals because the majority of brokers don’t ask you for anything when need you to make a your first deposit for a real account but, when it’s time to withdraw your funds or part of them, the is the moment they ask you for several documents and requests in order to supposedly verify your account and personal info.

    Best wishes.

  7. i warn everybody to carefully read the account terms of ic markets.if you are not an australian resident,your account will be held with a company called Raw Trading Ltd.this company was only registered february 2020.check it out on the internet and decide for yourself whether you want to join ic markets or not.

  8. Thanks guys I want to open an account but with all this testimony I can thanks for sharing your own experience the good and the bad if people in the world that is open they would make this place a better place people that were of the scammers and legit One Love

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