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With 3 types of accounts that support raw spread and cTrader, IC Markets provides various tools and educational section to help traders.
IC Markets is an international financial asset broker that has been providing brokerage services since 2007. IC Markets is based out of Australia but deals with clients from all over the world.
They are regulated by some of the industry's top regulatory bodies, making them among the safest to invest with. That includes the Financial Conduct Authority (UK) and Australia Securities and Investment Commission (ASIC).
It is safe to conclude that IC Market is a good broker for beginners. The reason is that IC Markets is equipped with the following features:
- Affordable deposit: Low deposit allows traders to participate in the market with smaller funds.
- Good trading platforms: With a simple user interface, trading platforms ease traders during their journey.
- Customer Supports: Chances are, beginners need help and guidance when they try to set up their accounts.
- Educational content: Help traders to learn free of charge and broaden their knowledge.
Below, we'll dive deep into every nook and cranny of this broker to find out what they offer and if these offerings cater to beginners in the forex industry.
Affordable Starting Deposit
Beginner traders typically have limited capital to invest, and a low deposit requirement allows them to participate in the market with a smaller initial investment.
Luckily, IC Market offers an affordable minimum deposit of just $200. With no pesky minimum withdrawal requirement to hold traders back, the possibilities are endless. However, IC Markets reminded us that watching for unexpected bank fees is essential.
Trading with a smaller deposit allows beginners to learn and familiarize themselves with the trading process, market dynamics, and various trading strategies. They can experiment with different approaches and gain practical knowledge without the pressure of managing large sums of money.
See Also:
Friendly Trading Platforms
Beginner traders often lack experience and familiarity with trading platforms. A broker trading platform specifically designed for beginners tends to offer a user-friendly interface with intuitive navigation and easy-to-understand features.
This makes it easier for newcomers to navigate the platform, execute trades, and access important information without feeling overwhelmed.
IC Markets real account offers traders three popular and easy-to-use trading platforms. Those are:
- MT4: Known for its user-friendly interface, market research, and analysis tools.
- MT5: Offers enhance features from MT4 which gives a better experience.
- cTraders: Visually appealing and intuitive user interface.
Dedicated Client Support
Broker's customer support is proven to be essential for beginners. Beginner traders often encounter challenges navigating a platform or using its various features.
Customer support can promptly resolve technical issues, clarify platform functionality, and guide beginners through trading. This ensures that beginners can effectively utilize the platform's tools and features without unnecessary frustration ors.
Luckily, IC Markets is one of the best brokers for beginners because it offers good customer support. Their support team is available 24 hours. IC Markets offers support through emails, phone calls, and live chat. Not to mention representative offices in Australia, Cryprus, as well as Seychelles.
Free Educational Content
Educational content helps beginners acquire essential knowledge about trading, financial markets, and various trading strategies. It covers fundamental concepts, technical analysis, risk management, and other critical aspects of trading.
By accessing free educational materials, beginners can develop a solid foundation of understanding, enabling them to make informed trading decisions.
IC Market has an entire section dedicated to educating traders on any forex-related confusion they may have. This is also great for beginners who don't know much about the industry and would like to gain more knowledge in this field.
Through this section, traders can access step-by-step tutorials, video tutorials, webinars, and podcasts on various forex-related information and guides.
It contains everything a new trader will need to become confident in their trading skills. This section is even great for professionals looking to polish their skills and perhaps learn something they were unaware of.
Conclusion
IC Markets is an excellent choice for beginner traders. A low deposit requirement reduces financial risk and enables participation with smaller funds. The user-friendly trading platforms provide a seamless experience. Their customer service is also available in several platforms, including phone calls, emails, and chat.
The availability of free educational content empowers beginners to learn and expand their knowledge at no extra cost. Overall, IC Markets combines affordability, user-friendly platforms, support, and educational resources to create a supportive environment for beginners on their trading journey.
IC Markets is a raw spread brokerage that puts all client's funds in segregated trust accounts supported by well-known Australian banks such as Westpac and NAB. On top of that, IC Markets offers various trading instruments like Forex, Indices, Bonds, Crypto, and many more.
23 Comments
Jimmy
Jan 3 2023
Carl
Jan 3 2023
Jimmy
Jan 3 2023
Carl
Jan 3 2023
Jimmy
Jan 3 2023
Robert
Jan 25 2023
I think the accounts offered by the IC market here are quite varied, yes, as a new trader I am very comfortable with this account choice, however, I still don't have the perspective to choose between the three accounts. because my own experience is lacking in trading and what I know so far is the IC market which attracts my attention because as already explained, the spread offered by this account is quite low in my opinion compared to some other brokers.
well, now the problem is if I want to open an account at IC Market, which account provides the lowest spread and is suitable for beginners like me? because I am still new to this trading.
Ainsley
Jan 25 2023
Robert: hello friends, don't worry too much, because IC Markets has so far provided the best service for traders, including beginners. As you know, the accounts that are matched by this account are quite varied, yes, and all of them, I said, offer the same low spreads. Well, this is usually what makes beginners confused about which of the standard, Raw spread, and cTrader accounts is right for you.
I
IC Markets' EURUSD average spread of 0.1 pip is the best in the world
other benefits that you can get are Average execution speed below 40 milliseconds, low-latency optical fiber cross-connected to, and free low-latency co-location VPS available.
Abigail
Jan 25 2023
Ainsley: I also agree with you, Raw Spread account so far I am comfortable to use by beginners who have little experience in trading. besides offering low spreads starting from 0.1 pip, the commission is only $3.5 per lot, and this is the best offer made by IC Markets. why? because the commission at that price is quite low in my opinion because usually, the standard commission is around $ 7 per lot.
With liquidity from 25 banks and non-bank liquidity sources, IC Markets Raw Spread Account is perfect for day traders, scalpers, and Expert Advisors. You can also choose between the Meta Trader 4 or 5 platforms you want to use before choosing a trading account. It can be said that these 2 platforms are the favorite choices of active day traders and scalpers around the world.
Wales
Jan 25 2023
Ainsley: In my opinion, the Standard Account is more suitable for novice traders who are looking for low spreads. Even if compared to other accounts, the spreads offered are higher, but they are only commas or not. On a standard account, the spread starts from 0.6 pips, it doesn't reach 1. and don't forget this standard account does not charge commission for trading. since spreads are charged starting from 1.0 pips, making this account a better choice for those who trade only occasionally, or who have limited capital. The leverage for this account is standard at 500:1.
it also gives you the option to open an account in 1 of 10 base currencies: USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, CAD.
Gara H.
Jan 25 2023
Abigail: Thank you guys for all the suggestions and recommendations, from all the explanations that you gave, it was quite easy and made sense for me to accept. Oh yeah, it's true that we're talking about costs, it's not just spread that has to be avoided, there are also commissions and regular swaps. I'm IC Markets, which all times recommend, in my opinion, each has its own advantages.
Even though the Raw Spread Account is a popular account at IC Markets with a fairly low spread that is close to zero, there is still a commission fee that must be borne by the trader. Now, for the Standard account here, it provides free commission fees for its clients, but the spread offered is quite higher than mine, Raw Spread, so maybe I should compare the two accounts more in choosing.
thank you guys, I will compare these two accounts first...
Brandon
Mar 4 2023
Gara H.: Additional comments here. For best, please use Standard account only. Since ECN is the most widely used by professionals and the trading volume is larger due to its functionality, the profit from each trade made by a professional trader on an ECN account can cover the fees higher commission on ECN account. ECN accounts also offer a more complex trading feel.
Whereas the standard account offers easier trading with basic functionality and most importantly is also profitable. So, be wise when choosing an account and you should compare and choose the one that works best for you. So good luck in trading, man!
Cory
Mar 4 2023
I am beginner here, and after reading an article, my primary concern is the security of the broker and the assurance that brokers like IC Market are safe for trading. I am particularly curious about the regulatory bodies that oversee IC Market, which are the FCA UK and ASIC Australia. Can these regulatory bodies be considered reliable and can they guarantee that IC Market is a legitimate and trustworthy broker rather than a scam broker? As my funds are deposited with the broker, I am anxious about the safety of my funds. Thank you for your help!
Anthony
Mar 4 2023
Cory: The financial industry is super strict and there are a bunch of rules that brokers have to follow to make sure they treat their clients fairly. That's where regulatory bodies like the FCA UK and ASIC Australia come in. They keep a close eye on brokers like IC Market and make sure they're doing everything by the book.
The FCA UK is like the big boss of financial markets in the UK, and ASIC Australia is the boss of financial markets in Australia. They both have tons of requirements that brokers have to meet, like how they handle client funds, what kind of financial instruments they offer, and how they handle complaints. The FCA UK and ASIC Australia also do regular check-ups on brokers to make sure they're following all the rules.
To regulated with them, brokers need to fulfill some conditions that may hard to do. You can read FCA and ASIC Details in here :
Bagus
Mar 4 2023
I am still unclear about the copy trading that featured in IC Market. I mean, is it true that we can copy the other trader's position. So, we just click, click, and done, right?? Or we need to choose the trader and then seeing their position at trading?? If that so, I dont think it will work and profitable. If the trader open position for a sec and we late to open for a sec, the price that I get may different with him and I think it will more difficult to follow the trader's position since we need to find the currency pairs and it will waste more time making me late to open position that same with the trader. Please explain to me how the copy trading work, please?
Alejandro
Mar 4 2023
Bagus: Dude, copy trading is the real deal! You can totally copy the trades of other successful traders without even lifting a finger or doing any analysis. It's not like manual copying as you talked about earlier. All you have to do is find a trader you like and set up your account to automatically copy their trades.
Here's how it goes down: when the trader you're copying makes a trade, it's automatically copied to your account. So if they make bank, you make bank. And if they make a bad move, well, you could lose money too.
If you're interested in trying out copy trading with IC Market, you can read about the IC Market copy trading's article : Is IC Market Social good?a
Akash Khan
Mar 23 2023
As a beginner trader, I am interested in using IC Markets as my forex broker. Can you provide me with an overview of the educational resources and support available to new traders on the IC Markets platform? Additionally, can you explain how the platform's trading tools and features are designed to cater to the needs of novice traders, and whether there are any demo accounts or risk management tools available to help me practice trading and manage my portfolio effectively?
George
Mar 24 2023
@Akash Khan: Hey there! If you're a beginner trader eyeing IC Markets as your forex broker, here's what you need to know. They've got educational resources like articles, videos, and webinars to help you learn the ropes. Plus, their support team is available 24/7 to answer your questions.
The trading platform they offer, usually MT4 or MT5, is beginner-friendly with cool tools for technical analysis. And guess what? They've got demo accounts where you can practice trading without risking real money. It's a great way to get comfortable before going live.
When it comes to risk management, IC Markets has features like stop-loss orders and take-profit orders to help you manage your trades. They might also send you margin call notifications to keep you in check.
Remember to check their website or hit up their support team for the latest info on educational resources, support channels, trading tools, demo accounts, and risk management features. That way, you can make an informed decision and start your trading journey with confidence.
Robin Chy
Mar 23 2023
I am also concerned about the safety and security of my funds when using IC Markets as a beginner trader. Can you explain how the platform is regulated and licensed, and whether there are any additional security measures in place to protect my personal and financial information? Additionally, can you provide me with information about the fees and costs associated with using IC Markets as a beginner trader, including any account minimums or deposit requirements?
Poilin
Mar 25 2023
@Robin Chy: I totally get your concerns as a newbie trader about the safety and security of your funds when using IC Markets. But let me tell you, IC Markets has got your back!
First things first, IC Markets is regulated and licensed, so they play by the rules. They're under the watchful eye of the Australian Securities and Investments Commission (ASIC) in Australia. That means they have to follow strict guidelines and keep your funds safe and sound.
When it comes to protecting your personal and financial info, IC Markets takes it seriously. They've got top-notch security measures in place, like fancy encryption technology, to keep your data locked up tight. So, you can rest easy knowing that your info is in good hands.
Now, let's talk fees and costs. IC Markets offers different account types, but as a beginner, you might wanna start with their Raw Spread account. It's known for having competitive spreads and low commission fees. But keep in mind, there's usually a minimum deposit requirement to get started.
Torress
Oct 30 2023
Indeed, venturing into the world of trading is a complex and challenging endeavor. It starts with the necessity to prepare your capital for trading, a fundamental step that should not be taken lightly, as the risk of losing your invested funds is an ever-present concern. Secondly, the importance of knowledge cannot be overstated. To navigate the intricate landscape of trading, you need a comprehensive understanding of various facets of financial markets, including fundamental concepts, technical analysis, risk management, and the practical application of different trading strategies. This educational groundwork is crucial for making informed trading decisions and managing risk effectively. Finally, your choice of a broker is akin to selecting a business partner, and it's a decision that should be made with utmost care and diligence. With a multitude of brokers available, traders often find themselves pondering the quality of educational support provided. It's worth delving into this topic and exploring how access to free educational resources offered by brokers helps beginners establish a robust foundation of knowledge. These educational materials often encompass a wide array of topics, and understanding the specific areas covered can be instrumental in a trader's journey towards competence and success. So, in light of this, how exactly does the availability of free educational content assist novice traders in building a strong knowledge base? Additionally, what particular subjects within the realms of trading and finance are typically addressed in these educational materials, and how can traders leverage this wealth of knowledge to their advantage?
Borjan
Nov 20 2023
I've got a question about IC Markets. The article mentions they're under the watchful eyes of some top-notch regulatory bodies, making them a safe bet for investments. The big players in this regulatory game are the Financial Conduct Authority (UK) and the Australia Securities and Investment Commission (ASIC).
Now, here's what's on my mind: I've heard that having regulators like the FCA comes with some tight trading terms. It usually means higher deposits and lower leverage. But here's the kicker—when I trade with a broker that shares the same regulator (I haven't tried IC Markets yet), I get pretty sweet trading conditions, especially being in Indonesia. Is it because there's another regulator at play here? I'm just hoping for a bit of clarity on that front.
Fernando
Feb 26 2024
Hey there! I want to ask something here! So, diving into the trading world can be a bit daunting at first, right? First off, you gotta get your cash ready for trading, but be aware of the risks, 'cause losing money is always a worry. Then, knowledge is power! You gotta learn all sorts of stuff about trading, like the basics, reading charts, managing risks, and trying out different strategies. It's like building your toolkit for making smart moves and handling the ups and downs. And hey, picking the right broker is like choosing your wingman. Look for ones that offer free educational stuff to help you learn the ropes. They cover all sorts of topics, from beginner stuff to advanced tricks. So, how does having access to free educational content help new traders, you ask? And what kind of topics are usually covered, and how can traders use that knowledge to their advantage?
Vitto
Feb 29 2024
Alright, let's break it down. Having access to free educational content is a huge plus for new traders. It's like having a mentor to guide you through the basics and beyond. These resources cover everything from the fundamentals of trading to more advanced strategies. So, they help beginners build a solid foundation of knowledge, which is crucial for making smart decisions in the market. As for specific topics, you'll find stuff like understanding market trends, analyzing charts, managing risks, and choosing the right trading strategies. By soaking up this knowledge, new traders can feel more confident and equipped to navigate the trading world with success.