REVIEW - IC Markets Forex Broker

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Overview

• Broker Name: IC Markets
• Broker Type: Forex Broker
• Country: Australia
• Operating since Year: 2007
• Regulation: ASIC
• Address: Level 4/50 Carrington St, Sydney NSW 2000, Australia
• Broker Status: Regulated

Customer Service

• Phone: +61 (0)2 8014 4280
• Email: [email protected]
• Languages: [email protected]
• Availability: 24/7

Trading

• Trading Platforms: MT4, MT5, cTrader, Web Trader, Mobile Trader
• Trading Platform(s) Timezone: GMT +2, GMT +3
• Demo Account: Yes
• Mobile Trading: Yes
• Web-based Trading: Yes
• Bonuses: N/A
• Other Trading Instruments: Currencies, Indices, Commodities, Stocks, Cryptocurrencies, Bonds, Futures

Account

• Minimum Deposit ($): 200 USD
• Maximum Leverage: (1:?)1:500
• Spread: Raw
• Scalping Allowed: Yes

International Capital Markets (IC Markets) Pty Ltd started in the year 2007 in Sydney, Australia, and its name has since been thrown around in many top broker discussions. There’s a good reason for that, and we are going to go through it in our icmarkets.com review.

IC Markets is one of the most renowned Forex CFD providers. It offers trading solutions for active day traders and scalpers as well as traders that are new to the forex market.

The broker provides many fantastic features for traders who want to make a living using the markets. The trading platforms include MetaTrader4 and MetaTrader5, and more. Trading products range from forex pairs to CFDs on different underlying assets.

That gives the impression that this broker caters to both beginners and experienced traders.

Regulation and Safety

Although IC Markets is not a publicly-traded company and does not operate a bank, it still scores high in trust ratings among investors.

That’s because this broker is under the Australian Securities and Investment Commission (ASIC) regulation, which is a tier-1 regulator that sports high trust. The fact that the broker is regulated makes it clear as a day that IC Markets is not a scam. That should ensure that trading with IC Markets is a safe venture.

At the same time, the majority of its clients belong to top-tier financial authorities. Add that to the fact that it has been operating for over ten years, and you can see that IC Markets promises safety.

Trading Products

IC Markets offers a variety of trading products. These assets have been carefully selected to ensure that traders get the best liquidity in the markets.

Among them are:

• Forex CFDs
• Indices CFDs
• Commodities CFDs
• Stocks CFDs
• Bond CFDs
• Crypto CFDs
• Futures CFDs

Market Review

Forex CFDs

Traders can trade forex CFDs on 60 currency pairs, including the major currency pairs like EUR USD, with tight spreads that start from 0.0 pips.

They can also use up to 1:500 leverage with deep liquidity, although it’s not recommended to use this much leverage on a single trade.

IC Markets also provides traders with high leverage. As you may or may not know, high leverage can amplify your gains—if the trade goes well.

Indices CFDs

Index markets are also accessible through IC Markets, with CFDs on global indices. You can trade 17 indices using up to 1:200 leverage. You don’t have to pay any commissions, and you can use MT4, MT5, and cTrader platforms.

Commodities CFDs

Traders can also access the commodities market through CFDs. IC Markets lets them choose from energy, agriculture, and metals. Spot and futures CFDs are also easily accessible, with leverage of up to 1:500.

Stock CFDs

If you want to access large-cap stocks and play on CFDs with them, IC Markets has got you covered. It selected a range of the world’s top companies across the ASX, NYSE, and NASDAQ. With these assets, you’re going to trade on the MT5.

Bonds CFDs

If you want to diversify and protect yourself from risks, bond CFDs are also available. IC Markets lets you choose among bonds from world governments like Europe, Japan, the US, and the UK. You can use up to 1:200 leverage without paying any commissions.

Crypto CFDs

Fellow trader, if you are also into digital currencies, crypto CFDs are also available for trading on IC Markets. You have the choice to go long or short and use up to 1:5 leverage on 10 of the most popular digital currencies right now.

Overall, even though IC Markets do not offer as many tradeable products as other brokers, the products they do offer are very competitive and will be enough for a savvy trader to be satisfied.

Trading Accounts

Ppening accounts with icmarkets.com is easy and fast. It is fully digital, so it’s not time-consuming, as long as you follow the steps correctly and send the necessary documents.

For the account types, you got three choices:

• cTrader Account
• Raw Spread Account
• Standard Account

Each of these accounts has unique offerings that make them suitable for different kinds of traders. The cTrader account lets you trade using the cTrader trading platform (more on this later), while the Raw and Standard accounts let you use the MetaTrader platforms.

Commissions on the cTrader platforms account start at $3 while Raw charges $3.5. There is no commission fee on the Standard Account.

Stop out levels for all accounts are at 50%, and all trading styles are allowed.

Raw Spread Account

IC Markets recommends the Raw Spread Account. According to the broker, this Account offers the lowest possible spreads available.

IC Markets aggregates the sources of pricing from as many as 25 institutional-grade sources. Also, the Account is suitable for day traders who seek daily actions in the market. It’s also ideal for scalpers and expert advisors.

So, if you are an active trader and you like trading often, this Account is probably for you. But of course, you have to keep in mind they charge a commission for this Account.

Trading Platforms

IC Markets offers three leading trading platforms:

• cTrader
• MetaTrader 4
• Metatrader 5

These platforms also come with trading tools, which make the lives of the traders much, much more comfortable.

cTrader

cTrader has a very intuitive design that ensures high-speed execution is possible. It gives traders easy access to a deep liquidity in 64 currency pairs as well as 16 major equity indices.

Among its features are:

• Real-time forex and CFD quotes
• 1:500 leverage
• Micro lot trading
• Multiple order types
• Level II pricing with full market depth
• Multiple order types
• Detachable charts
• Real-time reports
• One-click trading

cTrader is available for use on desktop, smartphone (android/iOS), and many other devices. So, it should be easy for traders to start trading with cTrader right away.

MT4

MT4 is the industry standard. Since IC Markets is primarily a forex broker, the MT4 offering is a perfect fit.

IC Markets’ Raw Pricing feature on the platform also lets you trade like an institutional trader since you are going to use pricing that is equal to the world’s leading execution venues.

This platform is the preferred platform for most investors and traders. Its design, features, functionalities, and tools all combine to make a great forex trading experience. It’s also been popular with traders for a long time now, so it should be easy to find guides to familiarize yourself with the platform quickly.

MetaTrader 5

And since IC Markets isn’t exclusively a forex broker, offering the MT5 platform has also been a wise move for it.

MT5 trading allows stock traders and other kinds of traders to join the party. Whether you are trading bonds, crypto, or commodities, MT5 has got you covered.

It’s the new and improved version of the MT4 with advanced charting tech and sophisticated order management tools. You will be able to control and monitor your trades more efficiently.

Just like the cTrader, both MT4 and MT5 are also available via mobile devices. They are compatible with both android and iOS, as well as Windows and macOS.

Customer Support Review

In case of emergency, you can contact the IC Markets through e-mail, 24/7 Live Chat, and a phone call.

Email Inquiries

• Client Relations: [email protected]
• Support: [email protected]
• Accounts: [email protected]

Global Phone Numbers

• General: +61 (0)2 8014 4280
• Fax: +61 (0)2 8072 2120

Summary — Is it Good?

Trading with IC Markets is probably one of the most instructional experiences that a trader can have. It offers a wide variety of features aimed at ensuring efficiency and trade effectiveness.

• Firstly, IC Markets is not a scam; the broker is under the ASIC (Australian Securities and Investment Commission) regulation.
• Overall, you can choose any of the platforms offered in IC MArkers, and they will be fit for your trading style. You are also free to try out demo accounts so that you’ll get a feel for each platform. Lastly, trading fees are competitive. It is suitable for beginner traders and experienced traders as well. The platform has a high rating in the trust.

IC Markets is a competitive broker that shows great promise of more improvements to come. For active traders who want to trade with ease, IC Markets are among the appropriate choices.

Reprinted from financebrokerage, the copyright all reserved by the original author.