Spreads and Commissions - Forex Broker Testimonials

Spread great, executions great, but I can't give IC Markets a 5 star yet. The main reason is that they don't have negative balance protection yet. It is such a shame because I see this feature as a very important one. I really want to trade big volumes with IC Markets, but I don't know if I would dare to do it without negative balance protection. For now, I should be happy with trading a small lot. Another thing I'd like to comment on is the customer service. They should improve their knowledge. A few times I met with support personnel who can't even answer a simple question. Often I would put into a 20 minutes hold over the phone.

In my opinion, IC Market is one of the best brokers in their field for now. I haven't found any other broker that has the same quality as this one. I was the type of person that jumped easily from one broker to another just because I am curious about their promos or my old broker disappointed me. But in the end, I keep returning to IC market. The reason was that They are the cheapest broker I have ever tried (spread and commission wise). heir support is always online and really always superfast and helpful. Also, the spreads and order execution work flawlessly. Recommended!

This is what my experience is like with IC Markets:

Weeks ago, I open a position with spread around 2 pips. But this broker suddenly decided to increase the spread of the pair to 30 pips for two seconds resulting in stop-out, I lost almost 7k totals. Then after I close my positions, the spread dropped to 10 pips immediately after a few seconds. I checked with another broker (I also open the same positions in another broker and there is no problems). I show this evidence to their customer service but the response doesn't make any sense. The main point is, they refuse to compensate me.

Compared to another broker with the same specifications that I have tried before, Ic Markets is definitely the winner. Their low spread is far more consistent compared to other brokers, and this is very important to me. Because most of them promise a raw spread, but when the market volatility changes, the spread is also changing. They also have good assistance 24/7, I know people keep saying that having good customer support is a must and not something to praise. But I still think it's remarkable how they handle things. Would recommend highly to other traders

Very Innovative broker in my opinion. Spread is tight, so it's really good for beginners who are looking for an affordable live account. The customer service is available for 24 hours so it's great for those who aren't in the zone. They also provide a very competitive and consistent MT4 platform that will satisfy the most demanding of traders. But, they aren't perfect tho, there is some aspect to improve. For example, I find their trading software a little bit challenging, but some traders think it's very simple so I'm not really sure about this. Aside from this, I wish they would offer individual stocks as CFDs as well. Regardless, I will still give them 5 stars.

So far I am very pleased with IC Market, and here is why:

1. Withdrawal is supper quick and hassle-free. However, I've only withdrawn in small amounts and I'm not sure if that's a problem.

2. They have a really good spread and I really enjoy it.

3. Very fast and helpful support team when you need it which is always a win.

4. Best gold and EUR/USD spreads I have ever seen.

It's good that IC Markets have good spreads and affordable commission fees. But, there are several reasons that make me question this broker. For once, why do you let people deposit from skrill if you can't let them withdraw from it? It doesn't make any sense to me. I tried another withdrawal method but it was also full of troubles. Second of all, please reduce your slippage! It's insane how much I suffer only from slippage! It makes trading during super volatile markets more dangerous than it already is. Third, customer service is really bad, I don't think the team understands anything about trading despite my reasoning and explanations.

The most important part about trading for me is the spread. I need a tight spread to maximize my profits. IC Markets not only gives me great spreads but also a wonderful platform as well. Order executions are also very smooth and everything goes according to what I plan. Sure there are some minor problems once in a while, but it's nothing I can't handle.

I can't believe the stunt they pull during the news release. They impose super high spreads for the majority of the major currency pairs which is around 100 pips to 200 pips. That of course sent me down to hell. I know that the market is super volatile at the time, but it's still insane. I trade the same pair on another broker and it wasn't that bad. Besides they do impose very terrible slippage that is approximately 10 seconds for delay of market execution on whoever had placed trades on the market. I confronted them, but they just wouldn't budge and keep saying nonsense. Should I move to another broker?

Here are the conclusions of my experience in IC Markets, starting from the positives.

The good part

1. Low latency which makes my trading execute smoothly, I love it when that happened. Really eased my anxiety.

2. Spread is super tight.

3. Customer service department is really good.

4. Didn't lie about being an ECN broker.

Now on to the negatives

1. Concern about the regulations, is FCA and ASIC regulated?

2. Withdrawal can be slow, which is a problem.

I don't know what should I give them? Maybe 4 stars?