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Withdrawal process is one of the key aspects to score a broker's reliability. Between IC Markets and Exness, let's discover which provides the better service for clients.
IC Markets and Exness are two leading brokers and they are both regulated by top-tier financial regulatory bodies. In terms of withdrawal, which comes out on top?
The Withdrawal Process at IC Markets
IC Markets has a great reputation worldwide with its wide array of financial instruments that it offers clients. It also offers tight spreads and leverage as high as 1:500 along with both MT4 and MT5 trading platforms. It is regulated by top-tier financial regulatory bodies in the world including the Australian Securities and Investment Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
IC Markets is based in Australia and was founded in the year 2007. Its longevity has contributed to its reputation as a trustworthy and reliable broker. The minimum deposit for this broker is $200 while the customer support is efficiently available 24/7.
IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).
On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.
Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.
The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website, proving their competence to serve their traders with important contents created by market experts that work specifically for them.
For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.
As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.
To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.
To withdraw funds at IC Markets, here are the steps:
- Log in to your IC Markets account.
- Click on 'Withdrawal' or 'Withdraw funds' from the right menu.
- Choose the mode of withdrawal and/or the account to which withdrawal should be made (applicable if there is more than one option).
- Input the amount for withdrawal, and if asked, a short description or reason.
- Submit your withdrawal request.
IC Markets has multiple withdrawal options which include debit/credit cards, bank transfers, and electronic wallets such as Neteller, UnionPay, BPay, Rapidpay, Bitcoin wallet, Skrill, and PayPal.
See Also:
Generally, withdrawals with this broker take 2-5 days before the funds will be reflected in the trader's account. However, the speed of withdrawal varies with the option chosen for withdrawal. Bank transfers tend to take longer (between 2 to 5 business days) while credit/debit cards can take about 2 business days.
The Withdrawal Process at Exness
Exness is also one of the top-notch brokers in the world offering clients a wide range of financial instruments to trade. Exness takes a personalized and international approach to the services offered to its clients with customer service available in multiple languages 24/5.
The broker is regulated by top-tier financial regulatory agencies and the minimum deposit is determined by the payment method used; it can be as low as $10.
The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, then Exness can be your best choice.
Exness covers its lack of feature variations with other advantages like low spreads starting from only 0.1 pip. This is very suitable for traders who use scalping strategies (Scalper). Spreads on major pairs in certain account types can also be as low as 0.0 pip, depending on market conditions.
Not only that, but traders can also enjoy other advantages such as automatic fund withdrawals. Exness processes the majority of client withdrawals instantly, without manual checks; however, withdrawals may be subject tos depending on the payment provider or method of choice.
The safety of traders' funds is also guaranteed as Exness is one of the European-based STP/ECN brokers. Exness's ability to become an official partner of the Real Madrid soccer team for 3 years, starting July 2017, also provides evidence that the company has high solidity.
Deposits and withdrawals may be made 24 hours a day, 7 days a week. However, it is important to note that the company shall not be liable fors in processing deposits and withdrawals if suchs are caused by the payment system.
Traders do not need to worry about transaction fees when depositing and withdrawing. Exness doesn't charge any transaction fees to traders even though some charges may be incurred depending on the payment provider of choice. A variety of payment methods are provided for traders, including Wire Transfer, Bank Card, Neteller, Skrill, and many others.
The financial reports and metrics on the Exness website are audited quarterly by Deloitte, one of the four largest public accounting firms globally.
Moreover, Exness is one of the mote transparent brokers in the online trading industry. Traders can find out all information about this company on the website, such as trading volume, number of active clients, client deposits, company funds, and many more.
The platforms provided by Exness vary in MetaTrader 4, MetaTrader 5, Web, and Mobile platforms. This makes it easy for traders when trading on Exness, as they can also access Exness platforms anywhere and anytime.
Over the years, Exness has developed into a broker that attracts traders. Trader's trust is further enhanced by its compliance with financial regulations like the FCA and CySEC.
One measure of client confidence can be put on the trading volume. By December 2018, their clients' monthly trading volume reached USD348.4 billion and active traders around the world surpassed 50,342.
Through the program offered by Exness, traders also have the opportunity to earn extra income by becoming their partners. From the Introducing Broker (IB) program, partners can earn up to 33% spread commission from every new client that registers with them.
Additional income can also be obtained from Exness Partners. Traders can get a spread commission of up to 25% per transaction made by traders who register through an affiliate link.
When trading with Exness, clients can also make use of its free VPS hosting services. A VPS (Virtual Private Server) offers increased reliability and stability for traders as they can maintain their trades and expert advisors without interruption in the event of unexpected technical issues, such as internet or electricity downtime.
From the review above, it can be concluded that Exness is a favorite broker for traders because of low spreads and flexible account types. This condition is very suitable for traders with limited funds but is in need of more opportunities to get maximum profit. This broker is also well known for its maximum support on both new and existing partners.
There are multiple withdrawal options as well with this broker but we will be looking at how to withdraw using your bank card. Firstly, there is a minimum and a maximum amount of profit that can be withdrawn via your bank card. The minimum is $3-$6 while the maximum is $10,000 per transaction. The steps involved are stated below:
- Choose a bank card in the withdrawal portion of your personal area.
- Fill out the form which includes:
- The trading account for withdrawal.
- The amount for withdrawal in your account currency.
- Click on 'Continue'.
- A transaction summary will then be displayed; click 'Confirm' to proceed.
- Input the verification code sent to you by SMS or email and then click 'Confirm'.
- You will then receive a message confirming the withdrawal request.
Funds are usually processed between 1-3 business days depending on the withdrawal method chosen.
Who has the Better Withdrawal?
There is not much to choose from between them except maybe the speed of withdrawal. Usually, withdrawals at IC Markets take longer before they are reflected in the trader's account compared to withdrawals at Exness. With bank transfers, additional fees may be incurred especially if the fund transaction will be carried out via intermediary banks.
However, apart from this, they are on similar levels in some aspects. Both IC Markets and Exness are solid and reliable brokers that are worth checking out. They both strive to offer their clients the best services to ensure that they have enhanced chances of success. While the process of withdrawal is worth noting, that should not be the only factor to consider when choosing a broker.
33 Comments
Jean Hawkins
Jan 12 2023
For me, the most important thing is not only the speed but also the minimum and maximum amount you can withdraw from the broker. I think in terms of speed Exness is the winner, but in reality, I don't know if they can really go that fast. But what about IC Markets? How much is the maximum amount I can withdraw per request from this broker?
Indra
Feb 28 2023
Jean Hawkins: The facts you say about fast payments, actually it is depending on the payment method you choose. In other words, if you choose a bank transfer, which is a wire transfer, it will take a few days to a week for the funds to fully deposit or withdraw. But if you decide to use electronic payments for example, the deposit and withdrawal process will be very fast. And other case, if you choose local bank transfer (if it is available), you will get the process fast and without fees. So, It's basically based on the payment method you choose.
As for IC Markets itself, there is practically no limit on the amount you can withdraw from your account and it is free. However, some payment methods have their own limitations and may incur fees. The minimum amount you can withdraw at IC Markets is $1.
Rahamad Roy
Mar 20 2023
Jean Hawkins: In general, the maximum amount that you can withdraw per request from a broker may vary depending on various factors, such as the payment method you are using, your account type, and the broker's policies. You can usually find information about the withdrawal policies of a broker on their website or by contacting their customer support. It is important to carefully review the withdrawal policies and fees of a broker before opening an account to ensure that they meet your requirements. Additionally, keep in mind that the speed of withdrawals can also depend on various factors, including the payment method used, the broker's processing times, and any withdrawal fees or limits. Therefore, it is essential to consider both the speed and withdrawal policies when evaluating brokers for your trading needs. Thanks for your question.
Teddy
Feb 13 2023
As the author said, IC and Exness markets have very similar withdrawal conditions. And the most important and perhaps of interest is regulation. In my opinion, the most important thing that can affect the entire withdrawal process is the broker itself. I mean it has to be regulated by a very high-level body regulator like ASIC. Being regulated by ASIC, this means that the broker itself has 1 million AUD, which proves that money management there is solid. Meanwhile, in terms of steps, I think Exness is the more secure broker in the withdrawal process as it includes a verification code sent via email or phone to complete the withdrawal request.
Alex
Feb 28 2023
Teddy: But the most important that I think, as the offshore traders are the regulation of the outside ASIC. I mean, it is yes, being regulate by ASIC can be really good prove to the brokers that they have really solid money management but beside that, I also need to see the condition of the cySEC Regulator for example. Really need to see is it safe to trade with the broker that have cySEC regulation?
Lenny
Feb 28 2023
Alex: Of course, it is safe to trade with CySEC Broker. CySEC regulated brokers are considered the safest in the industry as they must meet strict regulatory standards and adhere to many rules and regulations to protect their investors.
CySEC is a member of the European Securities and Markets Authority (ESMA). This means that its regulation is in line with European Union laws and standards. This gives CySEC regulated brokers access to the European market, one of the largest and most profitable markets in the world. You can read more about CySEC here: CySEC Regulation
On the other hand, if your word "offshore" means offshore brokers, some brokers are safe to trade under this regulation, but it is not safe to trade with them. The term offshore does not refer to a regulator located outside of ASIC, but rather to a remote or offshore location of the regulator, most often located in a country or region with lax financial or tax regulations that lower taxes and less regulatory oversight. More information about offshore brokers can be found here: Pros And Cons of offshore trading
Enzo
Feb 28 2023
The real dilemma when making deposits or withdrawals with a broker is bank transfers. That said, bank transfers are actually more secure than other payment methods. It is also a truly regulated financial institution. Therefore, receiving financial products through a bank feels safer than other financial institutions. However, there are drawbacks that you should really think about before using bank transfers with your broker. This means the fees incurred during bank transfers and the time it takes to complete the payment process. It was expensive and took a long time. The question is, why are bank transfer fees so high and the transfer takes so long?
Thiago
Feb 28 2023
Enzo: Dude, if you're talking about wire transfers, it's basically a domestic bank transfer and it's really fast because the transaction takes place in one country. But these are high fees because banks usually charge a flat fee for the service, regardless of the amount being transferred.
Meanwhile, if you are talking about an international bank transfer from your home country to the broker's country, of course it will take time to complete. All because there are many approvals and checks along the way. The issuing bank may need to verify the identity of the account holder, ensure that the account has sufficient funds, and comply with anti-money laundering regulations. The receiving bank may also need to perform a similar check before transferring funds to the recipient's account. And this method has high fees as the process involves many intermediaries including the sender's bank, the receiver's bank and all the correspondent banks involved in the transaction. Each intermediary may charge a transfer processing fee, and these fees can add up quickly.
Jack
Feb 28 2023
Actually, I want to talk about the withdrawal process that goes on for a long time. There is a lot of verification that a broker may need to process your withdrawal even though you have provided them with banking information for example. but for other payment methods like e-wallets with no management experience, the broker really needs to know that the withdrawal is legal and make sure that the money is sent to the right recipient and verify the owner again. account as well as ensure that the applicant is the same person. After that, the broker must also comply with the regulations.
Basically, several steps must be taken before proceeding with a withdrawal.
Serge
Mar 5 2023
Jack: I have a question. I always have problems with broker deposits and withdrawals. I mean why the payment method must be the same for deposits and withdrawals. If you use bank transfer deposit, you can only receive money by bank transfer. To be honest, it's very annoying because deposit methods may have low fees for some options, while withdrawals may have high fees and vice versa. So I'm thinking of using different payment method, but I don't think it's possible since many brokers that I see always has this policy.
Why does the broker have this deposit and withdrawal policy?
Charles A
Mar 5 2023
Serge: Hi sir! Brokers keep the same payment method for both deposit and withdrawal because it's easier for traders. It saves you the hassle of finding a new payment method, which can be a pain in the neck and sometimes expensive. Using the same payment method also makes your transactions more secure since your payment details are already confirmed.
Moreover, using the same payment method for both deposit and withdrawal helps brokers comply with financial rules. Brokers need to verify where the funds come from when they're used for trading, and using the same payment method for both deposit and withdrawal makes it easier to trace the money.
Willian
Mar 5 2023
Well, just because a broker has been around for a while doesn't mean they're completely safe. Of course, it's important to consider things like their reputation and track record, but there are other things to think about too. For instance, you should also look at how they're regulated, how financially stable they are, and what kind of security measures they have in place to keep your money and information safe.
Speaking of which, at IC Markets they're regulated by ASIC, which is one of the top regulators out there. They also have to meet certain financial requirements to operate in Australia, like having at least AUD 1,000,000 and an office there. Plus, they use segregate accounts, which is a pretty good sign. So, in my opinion, IC Markets seems like a solid choice, even if their withdrawal process is a bit slow.
Diego
Mar 5 2023
I have realized that depositing and withdrawing can be done using bank cards, especially credit cards. As a trader, I typically use bank transfers for payment methods, which I don't have a problem with except that they take longer to complete. When it comes to withdrawing funds, I'm not sure if credit cards can be used to receive payments from brokers. I'm confused about how money can be funded into a credit card using this payment method. Will the funds be deposited into our bank account when we withdraw using the credit card method?"
I hope this helps clarify your question!
Sebastian Aaron
Mar 5 2023
Diego: Typically, when you withdraw funds from your trading account with credit card method, they are sent back to the same bank account that you used to deposit the funds. For example, if you are a merchant who accepts credit card payments from customers, when a customer pays you with a credit card, the funds are automatically transferred to your bank account, but the credited amount will be paid by the customer in the following month. This is because the broker pays the bank periodically for the credit, while the trader receives the full amount immediately. Therefore, the withdrawal process may be quicker than expected.
Tomoa Hayate
Mar 21 2023
I'm curious about the safety of my funds if I receive money from brokers through bank transfers. Given that many people, particularly those in the baby boomer generation, only have bank accounts, they often use this method to conduct Forex transactions even though it takes longer to process. Consequently, I have some questions I'd like to ask.
So, I want to ask about transfer fees when using bank transfer. If I use international bank transfer through brokers like IC Market or Exness, which country will process my withdrawal if I'm not a trader from a country where these brokers are regulated? Additionally, how are fees determined and charged by the banks involved in the transfer? Thank you.
Titroy Das
Mar 22 2023
Tomoa Hayate:When using bank transfer to withdraw funds from a Forex broker, the transfer fees can vary depending on several factors such as the banks involved, the currency of the transaction, and the location of the banks. Typically, international bank transfers involve intermediary banks that help facilitate the transaction, and each bank along the way may charge a fee. Regarding the processing of your withdrawal, it's important to note that the country that processes your withdrawal may vary depending on the location of the broker and your own location. In general, when you withdraw funds from a broker via bank transfer, the funds will be sent to your bank account in your local currency, regardless of where the broker is located. The fees charged by banks involved in the transfer are usually based on a percentage of the total amount being transferred, with a minimum and maximum fee set by the banks. Additionally, there may be currency conversion fees if the currency being transferred is different from the currency of your bank account. It's worth noting that some brokers may offer fee-free withdrawals, while others may charge a fee for each withdrawal. Therefore, it's important to check with your broker regarding their withdrawal fees before initiating a bank transfer. Finally, it's always a good idea to ensure that you are dealing with a reputable Forex broker that is regulated by a reputable authority. This can help to minimize the risk of fraud and protect your funds.
Milton Roy
Mar 22 2023
I have been trading for more than 5 years and in my experience, IC Markets is one of the best trading platforms that I have used. I would rate it 8/10. As a scalper, it is extremely important for me that my broker provides all the necessary conditions for such meticulous work. IC Markets meets this requirement for me. The broker's orders closing speed is one of the fastest in the entire market, which is a definite plus. It does unfortunately have a high deposit, which is not something for beginner traders so they do lose out on the newcomers. And they have a complex and lengthy verification procedure. However, during the three years of trading with them, the broker has never let me down, so I highly recommend it.
Chancey
Apr 5 2023
I know it's important to look for this kinda negligible differences, especially for retail traders and scalpers, as small fees can accumulate over times and may reduce our profit gains. However, what do you think is more important to watch for when we trades with high frequency (scalping)?
Herry
Oct 30 2023
@Chancey: Hey there! When you're into high-frequency trading, like scalping, those tiny details do matter, and they can add up over time. But beyond just watching out for small fees, what's even more crucial is the need for speed – how quickly your trades get executed can make or break your scalping gains. You'd hate to miss out on opportunities or get stuck with unfavorable prices due to slow execution. Tight spreads are your best buddies for reducing costs when you're jumping in and out of positions rapidly. Plus, keeping an eye on slippage, that gap between what you expected and what you actually get, is a must. And don't forget your trading platform – it's gotta be super stable and lightning-fast to keep up with your speedy moves. Also, remember to manage your risk smartly, set up tight stop-loss orders, and keep your emotions in check because scalping can be pretty intense. Finally, choose a broker that's scalper-friendly and fits your style. So yeah, while those small fees are important, it's these factors, along with speed, that really make or break scalping.
Antonio
Apr 14 2023
Just want to ask about the withdrawal process that involved at Exness. As the big trader, many will beileve in bank transfer if the money involved is $10,000. And the maximum that Exness also give is $10,000 and it is normal if you choose bank transfer to get withdrawal. It means, from the deposit also need to be in bank transfer.
However, as I know, bank transfer little bit slow and can be more slower if we transfer via international bank. SO, I believe there is other way that may be the best than bank. If I want to do the trasnsaction that involved big money and fast, other than bank transfer, which other payment option that may suit to me and safe too!
Rie
Apr 14 2023
@Antonio: There are some that you might consider using other than bank transfer. First of all is Electronic payment systems (EPS) like Neteller or Skrill are a great alternative. They're fast and secure, but keep in mind that there might be some fees involved.
Another option is to use cryptocurrencies like Bitcoin, Ethereum, or Litecoin. Since the Exness also provide that, the Cryptocurrency transactions are usually faster and cheaper than traditional banking methods, but the value can be volatile, so be careful!
At the end of the day, it's up to you to decide what payment method works best for you. Exness has all the details on their website, including fees and processing times, so be sure to check that out before making your choice.
Whalien
Jun 19 2023
In my experience, I tried trading at several different brokers. I also like the withdrawal system offered by IC Markets, because the processing time for the funds is not too long and I think it's almost the same as other brokers. However, it is not uncommon for brokers to offer long withdrawals of up to 7 days or more. withdrawals that are quickly processed make traders feel safer about their money.
Usually, I make withdrawals using the international bank transfer method because I am more comfortable with this method. At this IC Markets, is there a fee if you want to withdraw funds using the international bank transfer method? Please if anyone can explain...
Ukrain
Jun 20 2023
In accordance with the explanation of this article and the direct explanation on the website, this XM Broker does not charge any fees for withdrawals, even though the method used for withdrawal is via international bank wire transfer. However, keep in mind that the fees borne by IC are only withdrawals above 200 USD. However, these costs come from additional costs from third parties such as:
In fact, apart from IC, there are lots of brokers that offer free withdrawals, so for choosing a broker, you are sure that the features, services, and instruments offered are good. . The only thing we can do is find the lowest possible cost. For reference, you can also read this: How to choose a broker based on trading fees
Kise Ryota
Sep 11 2023
What's the deal with that 0.0 pips spread in Exness' Professional account? I mean, how awesome is that? Can you imagine the advantage it gives you as a trader?
With such a tight spread, your trading costs are practically non-existent, dude! It means you get to keep more of your hard-earned profits instead of paying hefty spreads. And let's not forget about potential profitability, man.
A low spread like that can make a huge difference in maximizing your gains. But hey, does this sweet deal hold up in all market conditions? Like, even when things get crazy volatile or liquidity is low?
Brett
Sep 12 2023
Absolutely! Exness' Professional account offers an impressive 0.0 pips spread, giving traders a powerful edge. This ultra-tight spread means lower trading costs and potentially higher profits.
However, it's essential to remember that market conditions can influence spreads, so while Exness aims to maintain competitive rates, fluctuations can occur during times of volatility or low liquidity. Nonetheless, this tight spread can significantly benefit traders by optimizing their trading efficiency and overall profitability.
Dorothy
Sep 21 2023
I cannot say for sure whether this broker is good and safe. I ask friends for an explanation, is the Exness broker safe for trading and my funds? Is my personal data also safe here? If anyone knows, could you please explain...
Julious
Sep 22 2023
Founded in Russia in 2008, the Exness Group is a relatively new Forex and CFD broker. This broker has grown rapidly since its inception and now has over 145,000 clients worldwide and is regulated by seven national authorities.
In 2012 Exness obtained a license from the Cyprus Securities and Exchange Commission (CySEC) and moved its headquarters to Cyprus. In 2018, Exness closed its retail businesses in the EU and UK in response to tougher restrictions on retail CFD brokers – although Exness has maintained business-to-business (B2B) services in both regions. Here are the regulators that this broker has come across.
Lalisa
Sep 24 2023
Exness regularly receives industry awards and recently won Best Global Forex Customer Service 2019, Best Global Forex Trading Experience 2019, and Most Trusted Global Forex Broker 2019 at the Global Forex Awards.
Overall, I consider Exness a safe broker to trade with, albeit with some reservations. The broker's withdrawal from the EU/UK market following tighter regulation was certainly a consideration, but the broker remains well-regulated in many areas.
This broker provides all clients with negative balance protection, which means that traders cannot lose more than their initial deposit. Lastly, this broker is regularly audited by Deloitte, one of the most reputable auditing firms in the world.
In addition, Exness is a member of the Financial Commission, an international organization that resolves disputes in the financial services industry for the forex market. The Financial Commission ensures that traders and brokers resolve their disputes more quickly, efficiently, impartially, and in a realistic manner while ensuring that all parties receive fair and thorough answers to their concerns. This committee also provides additional protection for traders using the Compensation Fund.
The Compensation Fund acts as an insurance policy for member clients. These funds are kept in segregated bank accounts and are used only if the member refuses to comply with the decisions of the Financial Commission. The Compensation Fund will only cover decisions made by the Financial Commission up to €20,000 per client.
Paul
Sep 24 2023
I've successfully verified my account on IC Markets, but I'm interested in learning more about the benefits of having a verified account.
How does having a verified account impact my trading experience, and what additional features or privileges do I have access to?
Are there any trading restrictions or limitations that I should be aware of as a verified account holder?
Additionally, what are some tips or strategies you would recommend to verified account holders to help them maximize their profits and minimize their risks?
Finally, I'm curious about the verification process for corporate accounts.
What documents and information are required, and what are the benefits and limitations of having a verified corporate account?
Overall, what advice do you have for someone who is new to trading with a verified account on IC Markets?
Mareoleona
Sep 25 2023
Getting verified on IC Markets enhances your trading experience in several ways. Primarily, it bolsters security and trust, ensuring compliance with regulatory standards. Verified traders benefit from perks such as elevated transaction limits, swifter transactions, and premium customer support.
Keep an eye out for exclusive promotions too! While verified accounts generally face no trading restrictions, adept risk management is crucial for trading success. Establish realistic targets, employ stop-loss orders, and stay abreast of market developments.
If you're new to trading with a verified account on IC Markets, you can start read this article to gain more knowledge about the trading world! (read : Currency Trading Guide for Complete Beginners )
Jayadi
Nov 17 2023
Hey, gotta dive deeper into the money side of things with IC Market and Exness, beyond what the article spills on withdrawals. So, you know how it goes in my local trading scene – brokers teaming up with the big shots in the banking world. How's the scene with IC Market and Exness? Are they playing ball with banks for their financial moves, and if so, any hints on which ones? Plus, I'm curious if there's some rulebook telling these brokers which banks to roll with.
Here's the thing: using a heavyweight bank sometimes messes with the speed of getting your hands on your cash, right? Any insights on that front would be gold. Thanks a bunch! Just looking to unravel the financial mysteries here!
Upamecano
Feb 27 2024
I'm actually intrigued by the IC market after reading a review on this site. What caught my attention was the comparison between IC Market and Exness, both regulated by ASIC. The article mentioned that both brokers offer fast withdrawal responses, which piqued my curiosity.
One thing I'm wondering about is the regulation of IC Market. Why does it have two regulatory bodies? The article mentions that it's regulated by two of the top-tier financial regulatory bodies globally: the Australian Securities and Investment Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
Peter
Feb 28 2024
Hey there! IC Market is regulated by two bodies, the Australian Securities and Investment Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), for several reasons. Firstly, having dual regulation enhances the broker's credibility and trustworthiness in the eyes of traders and investors. It shows that IC Market adheres to stringent regulatory standards in multiple jurisdictions, providing added assurance of compliance and security.
Secondly, operating under multiple regulatory frameworks allows IC Market to offer its services to a broader international client base. Different regions have distinct regulatory requirements, and by being licensed in both Australia and Cyprus, IC Market can cater to clients from various parts of the world while ensuring compliance with local regulations.
Furthermore, having dual regulation provides an additional layer of protection for clients' funds. Each regulatory body imposes its own set of rules and regulations regarding client fund segregation, capital adequacy, and other investor protection measures. By being subject to oversight by both ASIC and CySEC, IC Market must adhere to the regulations set forth by each authority, thereby enhancing the safety of client funds. (read : Guide to Forex Brokers with Multiple License for more information about multiple license broker like IC Market)