Trust Score

93
See all Reviews

Regulation

  • ASIC

Platform

  • MT4

  • MT5

  • cTrader

Min Deposit

$200

Leverage

500:1

Bonus

NA

Zero Commissions

IC Markets is a well established and popular forex and CFDs online trading brokerage who offers competitive spreads on a wide range of assets. This broker is used both by experienced and beginner traders from all over the world, but how does it shape up to the competition? In the following review we discuss the aspects that make up this broker and how it compares to the competition?

Introduction

IC Markets was founded in 2007 and is owned and operated by International Capital Markets PTY which are based in Sydney Australia. The company’s headquarters are located at Level 6 309 Kent Street Sydney, NSW 2000 and the brokerage is said to be the countries best online trading brokerage. This is largely because IC Markets 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. Also, they offer the highest available leverage in Australia, low spreads and fees, an excellent education centre, and much more. Another great aspect of IC Markets is that in 2009 they became regulated by the Australian Securities & Investments Commission (ASIC) under licence number 335692. Also, clients are protected by the IC Markets membership with the Financial Ombudsman Service (FOS), which provides traders with an added layer of protection.

IC Markets Trading Conditions

IC Markets makes it their top priority to offer some of the best trading conditions in the industry by providing competitive spreads and commissions. IC Markets utilizes low latency servers which provide traders with the best available price. Spreads can be as low as 0 pips on the MT4 platform and as low as -0.3 on the cTrader platform. These spreads can get so low because IC Markets receives quotes from over 50 different banks and dark pool liquidity sources. With all this, IC Markets provides traders with an ideal environment for day trading and scalping.

IC Markets Account Types

IC Markets does their very best to accommodate every type of trader by providing them with three different account types to suit their needs. Traders can choose from a “Standard”, “True ECN”, or a “cTrader ECN” account. While all these accounts are different, they offer the same basic features. See all the common features below:

  • MT4 & cTrader trading platforms
  • Equnix NY4 - New York Server location
  • $200 USD deposit
  • Maximum leverage of 500:1
  • 64 currency pairs
  • Same trading styles

Basically, the only feature that differs are the spreads which are slightly lower on the True ECN account.

IC Markets Commissions & Fees

IC Markets is known to provide very competitive commissions and fees. For instance, on the standard account, there are no commissions charged but the spread is marked up by 1 pip above the interbank rate. On the ECN trade accounts, there is a commission of $7 per standard lot round turn. Also, while trading CFDs there are no additional fees or commissions incurred. Another great thing regarding fees is that traders will not be charged an account inactivity fee which is great considering that many other trading brokerages charge this.

IC Markets Platforms and Tools

IC Markets goes above and beyond with the trading platforms they offer. The provide not 1 but 3 trading platforms for their traders to choose from. With three platforms to choose from, traders are sure to find one that meets all their needs and trading style. See them overviewed below.

MetaTrader 4 (MT4)

This is the most popular trading platform not only for IC Markets, but for brokerages around the world. The platform utilizes one click trading solutions and a variety of technical indicators, advanced charting tools, and range of Expert Advisers.

MetaTrader 5 (MT5)

This platform is the most recent addition from the MetaTrader platforms. It has not gained as much adoption and popularity as MetaTrader4 but is the upgraded and improved upon version of MT4.

cTrader

The cTrader platform was made specifically for an ECN trading environment that utilizes automated trading software. With this platform, traders have three options when it comes to implementing automated trading; ZuluTrade, Myfxbook’s AutoTrade and Signal Trader's mirroring technology.

Is IC Markets Mobile Friendly?

Yes. IC Markets is fully optimized for smart mobile devices. The MT4 trading platform has downloadable applications available on both the Apple App store and the Goggle Play store. Also, the cTrader platform is web-based and is compatible on mobile browsers.

IC Markets Promotions

Unfortunately, IC Markets does not offer their traders any promotional bonuses for trading or signing up with an account.

IC Markets Deposits & Withdrawals

Deposits

IC Markets is an international trading brokerage and they offer their traders a wide variety of deposit options in 10 different currencies including AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, and CHF. As for the available 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

Withdrawals can be made via many of the same methods as deposits. Domestic bank transfers and e-wallet withdrawals are processed within the same business day if completed early enough and are free of charge. As for international withdrawals, they can take up to 3-5 business days and cost $25 AUD.

IC Markets Customer Support

One of the things IC Markets excels in is their level of customer support. Since IC Markets is an international brokerage they provide multilingual support to their clients 24 hrs a day, 5 days a week. The support available to traders include live chat, email, telephone, and through the company’s social media channels. Additionally, traders can find loads of information on the websites FAQ page.

IC Markets Research and Education

Another thing IC Markets does exceptionally well is educate their clients through their extensive education centre. The education centre is very well organized, and traders can find articles, guides, videos, tutorials, and more for a variety of investment and trading related content.

Noteworthy Points to mention for IC Markets

IC Markets is known as the best online trading brokerage in Australia and for good reason. The brokerage provides traders with a wide range of assets, trading tools, and educational material. Also, IC Markets has years of experience and has built up an excellent reputation.

Conclusion for Broker

After reviewing IC Markets, we have come to the conclusion that the broker lives up to the hype and is a great option for traders. They offer competitive commissions and fees, and a variety of investment products that both experienced and beginner traders are happy with. The platforms offered by IC Markets are more than sufficient and provide traders with all the necessary tools and features to succeed.

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