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IC Markets Review

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IC Markets

IC Markets is a well-established broker since 2007. IC Markets has headquarters in Australia, Hong Kong and Viet Nam. They are generally well-suited for IC Markets to provide their Forex/CFD trading services to global clients.

This broker has also been regulated by ASIC ACN 123 289 109, CySEC 362/18, SCB SIA-F214 and The Financial Commission 25.11.2021.

We can say that IC Markets is a legitimate broker that is safe to trade with and not a scam with all those licenses. Especially for algorithmic traders or scalpers, IC Markets could be your first choice as it provides excellent trading costs, high leverage, low latency connectivity, and superior liquidity.

Three copy trading services are also available to facilitate social traders, while beginner traders benefit from a high-quality educational platform and 24/7 customer support. IC Markets offer negative balance protection and segregates client deposits from corporate funds.


Company Information

🌐 Website
www.icmarkets.com

Year Established
2007

🌎 Country
AustraliaCyprusBahamasChinaEuropean areaHong KongIndiaIndonesiaRussian FederationSpainThailandTurkeyUnited Arab EmiratesUnited Kingdom

💼 Regulation

Features

💹 Interest rate on funds

📖 Free education

👨‍💻 PAMM accounts

📊 MAM accounts

📁 Segregated accounts

📈 Managed accounts

🕋 Islamic accounts available

Account Information

Apart from the forex demo account, this broker offers Raw Spread and Standard. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by IC Markets is up to 1:500. Meanwhile, you can open an account with a starting capital of $200.

IC Markets offers the following trading accounts:

  • Standard: Standard account requires a minimum deposit of $200 and a minimum lot size of 0.01. To offer traders the best prices, this account type uses variable spread. Overall, the account is offering a multitude of tools, such as trailing stop, pending orders, one-click trading, browser-based platform, and trading via API. However, you don’t have the Expert Advisor nor scalping strategy options.
  • Raw Spread: The minimum deposit is $200  and the minimum lot size is 0.01. Raw Spread promises straightforward market access via one-click trading, automated trading, and mobile trading with a variety of tools including trailing stop and pending orders. Expert Advisor and scalping are allowed.
pin

Min Deposit

$200

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Max Leverage

1:500

pin

Spread

Variable

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Commission

$3.50

If you want to look for a more simple explanation regarding this broker's account type(s), take a look at the following chart:



💲 Min Deposit $200

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

Trailing stop

Pending orders

1️⃣ One-click trading

📱 Mobile trading

Automated trading

Fees

Commissions at IC Markets vary by the trading platform. The commission is $6 per lot for cTrader and $7 per lot for MT4/MT5. The pricing difference lowers profit potential by 16.67% for MT4/MT5 traders.

Fees of 0.10% are charged for equity traders, except US-listed equities, where the cost is $0.02 per share per side. Other costs to be aware of include third-party payment processors and overnight swap rates. However, one of the advantages of using IC Markets is they do not charge an inactivity fee.

Instruments Traded

Besides lots of currency pair, IC Markets also offers some instruments you would like to trade on, such as Forex, CFD, Bonds and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

Available trading markets on IC Markets include:

  • 23 indices.
  • 61 currency pairs.
  • over 22 commodities.
  • 1600+ stocks.
  • More than 11 bonds.
  • 13 cryptocurrency pairs.
  • 4 futures CFDs.

As for Raw Spread account, IC Markets specifically provides it with the following instruments and leverage:


Forex

Forex
1:500

Bonds

Bonds
1:500

Cryptocurrencies

Cryptocurrencies
1:20


💲 Min Deposit $200

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

Trailing stop

Pending orders

1️⃣ One-click trading

💻 Browser-based platform

📶 Trading via API

Fees

Commissions at IC Markets vary by the trading platform. The commission is $6 per lot for cTrader and $7 per lot for MT4/MT5. The pricing difference lowers profit potential by 16.67% for MT4/MT5 traders.

Fees of 0.10% are charged for equity traders, except US-listed equities, where the cost is $0.02 per share per side. Other costs to be aware of include third-party payment processors and overnight swap rates. However, one of the advantages of using IC Markets is they do not charge an inactivity fee.

Instruments Traded

Besides lots of currency pair, IC Markets also offers some instruments you would like to trade on, such as Forex, CFD, Bonds and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

Available trading markets on IC Markets include:

  • 23 indices.
  • 61 currency pairs.
  • over 22 commodities.
  • 1600+ stocks.
  • More than 11 bonds.
  • 13 cryptocurrency pairs.
  • 4 futures CFDs.

As for Standard account, IC Markets specifically provides it with the following instruments and leverage:


Forex

Forex
1:500

Bonds

Bonds
1:500

Cryptocurrencies

Cryptocurrencies
1:20

Payment Methods

IC Markets offers their clients a variety of deposit and withdrawal options, with only cryptocurrencies missing. Although there are no internal costs, all bank wire transfers are charged a fee of $20 with third-party payment processor costs apply. Withdrawals are processed within the same day as long as received before noon AEST/AEDT. Both funding and withdrawal are available via many methods that you should check before to determine which one is the most efficient for you:

Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.

Skrill : Mostly, all forex brokers provide Skrill as an online payment service option. Fast, easy, and safe transactions are the main reasons why traders using this method. Traders can use Skrill to fund their trading accounts with either payment cards, bank wire transfers, or directly from a Skrill e-wallet account.

PayPal : Online payment was not a thing back in the early 2000s, but PayPal has been in the market since 1999 and thus deserves to be regarded as one of the first e-payment services in the world. The US-based company is popular across many online platforms, including forex brokers.

Neteller : Like PayPal, Neteller is one of the most popular online payment services today. Due to this popularity, nearly all forex brokers accept Neteller as a payment method for their clients' fund deposit and withdrawal. Although the Neteller system is available almost all over the world, it remains particularly popular in Europe.

FasaPay : Known as an e-payment for retail forex traders, FasaPay does not require a huge amount of fee, giving it a competitive edge among any other e-payments in the forex brokerage industry. Instant process is also featured as one of its advantages.

IC Markets also provides payment with Crypto, UnionPay, Credit/debit cards and BPAY



Trading Platforms

Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.

Hereby, IC Markets offers you MetaTrader 4, MetaTrader 5, cTrader, webIRESS and ProDeal.

  • MetaTrader 4: The MetaTrader 4 platform includes a broader range of technical indicators and orders, including one-click trading solutions, customizations for market depth analysis, advanced charting tools, Expert Advisers, and extensive back-testing options.

metatrader 4

 

  • MetaTrader 5: The MT5 platform offers an upgraded and expanded version of the MetaTrader 4 platform.

metatrader 5

 

  • cTrader: This trading platform is custom-made for an ECN trading environment. This includes automated trading software and is available on mobile desktops and the web. Traders who want to use auto-trading have three options to choose from; ZuluTrade, Myfxbook’s AutoTrade and Signal Trader’s mirroring technology.

ctrader

 

Unique Features

Designed to provide an enhanced trading experience, IC Markets includes some unique features:

  • MAM/PAMM solutions
  • VPS servers with three providers can be obtained free of charge if the trader's monthly trading volume exceeds 15 lots.
  • Myfxbook Autotrade and ZuluTrade cater to the needs of social trading.
  • The Advanced Trading Tools suite upgrades MT4 and into a competitive trading platform with features 20 exclusive trading tools.

 

Research and Education

One of the areas in which IC Markets is extremely strong is a blog that offers high-quality research and trading ideas. Users can select from six categories:

  • Fundamental Analysis
  • Technical Analysis
  • WebTV by Trading Central
  • Getting Started: educational platform with the video tutorials and then the 10-lessons
  • Webinars: seven experts host them in English, Spanish, Chinese, Portuguese, and Thai.
  • Podcasts: hosted by two presenters, add value and remain very popular among a younger generation of traders.

 

Bonuses and Promotions

Presently, bonuses and promotions are not available. Instead of using short-term marketing tactics to increase revenue, IC Markets chooses to offer competitive trading costs and ECN accounts with raw spreads to attract loyal clients.

Customer Support

Do you have any question or find any trouble related to IC Markets? If you do, you should reach IC Markets's support to get the information that you need. Here is the detail of the broker's customer support:

  • Access to multilingual support
  • Live chat  24/7.
  • Additional options include e-mail and toll-free numbers.
  • The Help Center attempts to answer the most common questions.

Website Languages

Arabic
Chinese
English
German
Indonesian
Japanese
Korean
Malay
Portuguese
Russian
Spanish

Office Support

Email Support

Call Support

Chat Support

Extensive Review

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.



FAQ About IC Markets

Is IC Markets a good broker?

A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if IC Markets is a good broker for you or not by reviewing the criteria. In general, IC Markets provides trading service in Forex , CFD , Bonds and Cryptocurrencies . As for the payment methods, you can choose between Crypto, BPAY, Credit/debit cards, FasaPay, Neteller, PayPal, Skrill, UnionPay and Wire transfer. The customer support is available via Email, Office and Phone.


What is the minimum deposit for IC Markets?

The starting capital in IC Markets is $200.


Is IC Markets regulated?

IC Markets is regulated by ASIC ACN 123 289 109, CySEC 362/18, SCB SIA-F214 and The Financial Commission 25.11.2021. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.


Is IC Markets legit?

IC Markets is a brokerage company offering trading services for clients since 2007 with offices in Australia, Hong Kong and Viet Nam.


IC Markets Articles
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544 Reviews

Dani Alves
India Jan 16 2023

"IC Markets is an online forex and CFD broker based in Sydney, Australia. The company offers traders access to a wide range of financial markets, including foreign exchange (FX), indices, commodities and cryptocurrencies. IC Markets is probably the best Forex broker. TradeEU also refers to a good broker because It allows companies to connect with each other, negotiate prices and arrange international delivery. The platform also provides detailed information about local regulations and taxes for importing and exporting within the EU.

Yvette Mccormick
Malaysia Jan 4 2023

I have to say that I am a new trader and I was looking for more information regarding this broker. Naturally, I went to their official website, thinking I would get a better idea about what I was getting at. Instead, I was overwhelmed with all the information and became even more confused. Luckily, their customer service is lovely. They really guided me through all the problems I was having. Now, I am proud to say that I have joined ICMarkets.

Jamie Blair
Argentina Jan 2 2023

I can't log in to my account. It's been 2 days, and I still couldn't get a hold of customer service. I have left a message in live chat but waiting for so long no reply as of writing here. They should have employed more live agents on weekends. It's getting really bad, I have an open position.

Eunice Boone
Argentina Dec 29 2022

Amazing trading platforms! I was pretty amazed by all the professionalism. I think this is one of the smoothest trading experiences I have ever had. Never once had an issue, the spread with them is so much better than a lot of other platforms, and hopefully, will be using their platform for many years to come.

Mohit Raj
Bangladesh Dec 17 2022

The broker I'm trading with is quick to process my withdrawals. I deposit and withdraw my funds in cryptos, so it doesn't take much time, a couple of hours on most occasions. And, since I've withdrawn my funds from my trading account into my crypto wallet plenty of times, I can say they are pretty safe and IC markets remain top rated in customer service.IC Markets offers their clients a variety of deposit and withdrawal options.

Rayan
Bangladesh Dec 17 2022

hi my name is Rayan  and i am ic markets client and have deposited more than 5000at usd with them but let me tell you one thing very clear that they have very non professional cutsmoer support they dont even bother to reply for 5 to 10 days if u face any problem like negtive balance or you have issue with your withdraw or you order didnt hit like seriously you have deposited your hard earned funds with them and they give a fuck to it.

Alicea Rangar
Bangladesh Dec 17 2022

I have been trying numerous platforms across many different brokers over the years. IC markets provides the best in terms of flexibility, support and customer care. Two days ago, I had a problem with my trading account which was my fault and the client service solved my problem in 5 minutes. quick response and friendly. great support team.

Roky Raj
Bangladesh Dec 17 2022

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.

Kokon Roy
Bangladesh Dec 17 2022

I was told by a professional and famous trader to trade on IC Markets as it was one among the best. He was right. I followed his advice and open an trading account on IC Markets. But when i made a deposit by bank transfer, i forgot to put the reference required for them to recognise me. I informed them about the issue on friday, they asked for a proof of payment, and that's it. On monday morning, the fund was already credited on my trading account. They are very professional people. I knew from the beginning that i came to the best broker. And they proved it.

Abdul Seibert
Pakistan Dec 6 2022

Is it possible to get rebates in IC Markets? I would love to get some. I have tried checking on the official websites, but I seem to have a hard time looking for any information about it. Not only rebates, but I have also been looking for any information regarding bonuses and promotions. But I can't find anything interesting about it or any information at all.