- Overview of IC Markets Forex Broker
- Company Background
- Licenses and Regulations
- Awards and Recognitions
- Advantages and Disadvantages
- Account Types and Features
- Standard Account
- Raw Spread Account
- cTrader Account
- Islamic Account
- Demo Account
- Deposits and withdrawals
- Trading Platforms
- Trading conditions
- How Does IC Markets Compare?
- Top Facts about IC Markets in 2023
- IC Markets Rebates
IC Markets is an Australian-based forex broker that has been in operation since 2007. With a strong reputation for excellence and transparency, IC Markets has grown into one of the largest forex brokers in the world, serving clients from over 200 countries. This review will provide a detailed analysis of the platform, including its features, pricing, trading conditions, customer support, and more.
Overview of IC Markets Forex Broker
IC Markets is a leading Forex and CFD trading broker, established in 2007 and based in Australia.
It has quickly grown to become one of the largest retail forex brokers in the world, with over 1.2 million trades executed daily and more than 200,000 active traders worldwide.
The company offers a wide range of trading instruments, including Forex, Indices, Commodities, Stocks, and Cryptocurrencies, with competitive spreads and low trading costs.
Licenses and Regulations
IC Markets is a fully regulated broker, authorized and licensed by top financial regulatory bodies, including
- ASIC (Australia)
- FSA (Seychelles)
- CySEC (Cyprus)
This ensures that the company adheres to the highest standards of financial security, transparency, and client protection, and provides traders with a safe and secure trading environment.
Awards and Recognitions
IC Markets has received numerous awards and recognitions for its outstanding performance and service, including
- the Best Forex Broker in Australia award by the International Business Times
- the Best Forex ECN Broker award by UK Forex Awards
It has also been recognized for its excellence in technology and innovation, with awards such as
- the Best Trading Platform award by Online Personal Wealth Awards
- the Best ECN Broker award by the Forex Brokers Awards
Advantages and Disadvantages
Account Types and Features
This account is for traders who want to trade with standard spreads, starting from 1.0 pips, and no commission fees. The minimum deposit is $200, and it supports both MetaTrader 4 and MetaTrader 5 trading platforms.
Raw Spread Account
This account is for traders who want to trade with raw spreads, starting from 0.0 pips, and pay a commission fee of $7 per round turn lot. The minimum deposit is $200, and it supports both MetaTrader 4 and MetaTrader 5 trading platforms.
This account is for traders who prefer to trade on the cTrader platform, which offers advanced trading tools and features, such as Level II pricing, advanced charting, and order management tools. The account has spreads starting from 0.0 pips and a commission fee of $6 per round turn lot. The account can be opened with a minimum deposit of $200.
IC Markets also offers Islamic accounts, which are designed for traders who follow Islamic Sharia law and do not charge or pay interest on overnight positions. These accounts are available for all three account types mentioned above.
IC Markets provides a free demo account with virtual funds of $100,000, which traders can use to practice trading strategies and get familiar with the trading platforms before opening a live account.
Deposits and withdrawals
IC Markets offers a variety of deposit and withdrawal options, including bank wire transfers, credit/debit cards, and e-wallets such as Neteller, Skrill, and WebMoney.
Deposits can be made in multiple currencies, including USD, EUR, AUD, GBP, JPY, CHF, CAD, and SGD.
IC Markets does not charge any deposit fees, and most deposit methods are processed instantly, allowing traders to fund their accounts quickly and easily.
Withdrawals can be made through the same payment methods used for deposits, and IC Markets usually processes withdrawals within 24 hours.
IC Markets does not charge any withdrawal fees, but traders may incur fees from their payment provider or bank.
Traders can withdraw funds from their account at any time, with no minimum withdrawal amount.
IC Markets also offers a free internal transfer service. Allowing traders to transfer funds between their trading accounts with IC Markets, without incurring any fees.
IC Markets offers traders a variety of advanced trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.
MetaTrader 4 (MT4) is one of the most popular trading platforms in the world, offering advanced charting tools, technical analysis indicators, and automated trading features. IC Markets provides traders with the latest version of MT4, which is available for Windows, Mac, iOS, and Android devices.
MetaTrader 5 (MT5) is the latest version of the MetaTrader platform. It offers advanced features such as hedging, multi-currency support, and more timeframes. MT5 is also available for Windows, Mac, iOS, and Android devices.
cTrader is an advanced trading platform that offers traders access to Level II pricing, advanced charting, and order management tools. It is designed for traders who prefer a more sophisticated trading experience. cTrader is available for Windows, Mac, iOS, and Android devices.
IC Markets also offers a range of trading tools and plugins, such as the Smart Trader Tools package, which includes a range of expert advisors, indicators, and risk management tools.
Traders can access their trading accounts and trade on the go using the IC Markets mobile app, which is available for iOS and Android devices.
IC Markets offers competitive trading conditions, including low spreads and fast execution speeds, with no requotes or dealing desk intervention.
The broker offers a wide range of trading instruments, including 60+ currency pairs, as well as CFDs on indices, commodities, stocks, and cryptocurrencies.
IC Markets supports flexible trading sizes, with a minimum lot size of 0.01 and maximum leverage of up to 500:1, depending on the account type.
The broker provides traders with a range of advanced trading tools. Including charting tools, technical analysis indicators, and automated trading features, such as Expert Advisors (EAs) and cBots.
IC Markets offers traders access to a range of educational resources. Including webinars, video tutorials, and trading guides, to help them improve their trading skills and knowledge.
The broker also provides traders with 24/7 customer support, available in multiple languages, via phone, email, and live chat.
How Does IC Markets Compare?
When stacked against its competitors, IC Markets holds its ground. Its advanced platforms, tight spreads, and top-notch security measures make it a preferred choice for many.
Top Facts about IC Markets in 2023
Established Reputation. IC Markets is recognized as one of the largest Forex CFD providers in the world by trading volume.
Impressive Trading Volume. In June 2023, IC Markets recorded a whopping US$1.39 Trillion in trading volume.
Global Clientele. The platform boasts over 200,000 active clients worldwide.
High Trust Rating. IC Markets has an excellent rating of 4.8/5 on TrustPilot, indicating a high level of trust and satisfaction among its users.
Raw Spread Advantage. IC Markets offers raw spreads, which means traders can experience spreads starting from 0.0 pips. This is particularly beneficial for high volume traders, scalpers, and those using automated trading systems.
Fast Order Execution. The platform prides itself on its fast order execution, with average execution speeds of under 40ms.
Automated Trading. IC Markets is a top choice for automated traders. Over two-thirds of all trades on the platform come from automated trading systems.
Diverse Trading Products. Traders have access to a wide range of products including Forex CFDs, Commodities CFDs, Stocks CFDs, Index CFDs, Bond CFDs, and Cryptocurrency CFDs.
Algo Trading. A significant 60% of all trades on IC Markets are algo trades, highlighting the platform’s capability to cater to modern trading strategies.
Global Trading Hub. IC Markets utilizes the Equinix NY4 trading hub located in New York, which processes over 500,000 trades per day.
Overall, IC Markets is a reliable and efficient forex broker that offers a wide range of trading instruments, advanced trading platforms, and favorable trading conditions. Its tight spreads, competitive pricing, and transparent fee structures make it an attractive choice for traders of all levels. While the lack of fixed spread accounts and educational resources may be a drawback for some traders, IC Markets’ excellent customer support and reputation for excellence more than make up for it. If you are in search of a reliable and efficient forex broker, IC Markets is definitely worth considering.
IC Markets Rebates
IC Markets, as one of the leading forex brokers in the industry, offers a competitive rebate program to reward its traders. Rebates are essentially a portion of the trading commission or spread that is returned to the trader, acting as a discount on the cost of the trade. For many traders, especially those who trade frequently or with large volumes, these rebates can accumulate and represent significant savings over time. IC Markets’ rebate program is designed to provide an added incentive for traders, ensuring they get the best value for their trades. By offering such rebates, IC Markets not only enhances its appeal to both new and existing traders but also reinforces its commitment to providing a transparent and trader-friendly environment.
More information you can find here: