IC Markets Review

IC Markets is a well-established broker since 2007. IC Markets has headquarters in Australia, Cyprus, Bahamas, China, European area, Hong Kong, India, Indonesia, Spain, Thailand, Turkey, United Arab Emirates and United Kingdom. IC Markets to provide their Forex/CFD trading services to over 4 million 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.

Major Information

Account Information

Apart from the forex demo account, this broker offers Standard and Raw Spread. 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.

Min Deposit

$200

Max Leverage

1:500

Spread

Variable

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:

• Standard
• Raw Spread

💲 Min Deposit $200

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

⏱ Trailing stop

⏳ Pending orders

1️⃣ One-click trading

💸 Commission

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 Crypto 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
1:500

CFD
1:500

Bonds
1:500

Crypto
1:20

💲 Min Deposit $200

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

⏱ Trailing stop

⏳ Pending orders

1️⃣ One-click trading

⚡ Automated trading

💸 Commission $3.50

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 Crypto 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
1:500

CFD
1:500

Bonds
1:500

Crypto
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

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