In this IC Markets broker review, we will provide you with a comprehensive overview of IC Markets to help you decide if it is the ideal broker for your trading requirements. Our analysis will delve into the critical aspects of IC Markets, such as regulatory compliance, account types, payment options, trading platforms, pros and cons, and product offerings. By examining all of these factors, you’ll be able to determine whether IC Markets is the right fit for your investment goals and trading strategy.
So, whether you’re a seasoned trader or a beginner looking for a reliable broker, read on to learn more about IC Markets and its offerings.
Table of Contents
IC Markets Broker Overview
IC Markets is a globally leading online broker and one of the world’s largest forex providers (by trade volume), processing over 29 billion USD in FX trades daily. Based in Australia, the broker has been operating since 2007 and is well-regarded for its reliability and transparency. IC Markets provides access to a wide variety of over 2250+ global markets, including forex, stocks, commodities, indices, cryptocurrencies, bonds, and futures.
IC Markets’ competitive advantage lies in its low trading fees, fast order execution, exceptional customer support service, and comprehensive educational resources. The platform offers ultra-low spreads from 0.0 pips and boasts fast order execution speeds of less than 40 milliseconds, making it one of the fastest in the industry. Traders can also access 24/7 dedicated customer support and a range of educational resources, such as high-quality video tutorials, webinars, courses, and podcasts.
Additionally, IC Markets offers deep liquidity, multiple industry-standard trading platforms, multiple fast and secure payment methods, different account types, high leverage of up to 1:500, social trading, and comprehensive support for automated trading.
Suitable For – low-cost trading, beginners, professionals, active traders, high-volume traders, scalping, and algorithmic trading.
IC Markets Features
| Broker | IC Markets |
|---|---|
| Established | 2007 |
| Regulations | ASIC (Australia), FSA (Seychelles/ Global), and CYSEC (Europe). |
| Global Offices | Australia, Seychelles, Cyprus, and the Bahamas. |
| Publicly Listed | No |
| Broker Type | ECN |
| Products | Forex, CFDs |
| Account Types | Demo, Standard, Raw Spread, Professional, and Islamic. |
| Asset Classes | Forex, Stocks, Commodities, Indices, Cryptocurrencies, Bonds, and Futures. |
| Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader, IC Social, Myfxbook Autotrade, ZuluTrade |
| Trading Tools | Virtual Private Server, Trading Servers, and MT4 Advanced Trading Tools. |
| Minimum Deposit | $200 (or currency equivalent). |
| Base Currencies | AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, and CHF. |
| Payment Methods | Credit and debit cards, Paypal, Neteller, Neteller VIP, Skrill, UnionPay, Wire Transfer, Bpay, FasaPay, Broker to Broker, POLI, Thai internet banking, Rapidpay, and Vietnamese internet banking. |
| Leverage | 1:1 – 1:500 1:1 – 1:30 (EU & UK Traders) |
| Lot Sizes | Micro (0.01), Nano (0.1), and Standard (1.0). |
| Pricing Model | Standard Account – Spreads Raw Spread Account – Spreads and Commissions. |
| Demo Account | Available – Open Demo Account |
| Customer Support | Telephone, e-mail and live chat. |
| Education | Telephone, e-mail, and live chat. |
| Supported Languages | English, Thai, Korean, French, Spanish, Russian, Malay, Bulgarian, Chinese, Indonesian, Deutsch, Portuguese, Vietnamese, Arabic, Italian, and Croatian. |
Regulatory Compliance
IC Market is licensed and regulated by top-tier financial regulatory bodies across the world, including;
- ASIC – The Australian Securities and Investments Commission (Australia)
- FSA – The Seychelles Financial Services Authority
- CYSEC – The Cyprus Securities and Exchange Commission
Account Types
Using IC Markets, clients have the option of choosing from two account types that are designed to suit different trading needs and styles. The account types available on IC Markets include;
- Standard Account (Metatrader)
- Raw Spread Account
- cTrader ECN Account
- Islamic Account (Swap Free Account)
Standard Account
With the Standard Account, traders are not charged a commission when they place a trade, instead, the broker marks up the spreads received from their liquidity provider as compensation for the liquidity they’re providing to you.
The IC Markets’ Standard Account is ideally suited for casual traders, although it can still be used by all types of traders.
Standard Account Features
| Standard Account Features | Specifications |
|---|---|
| Trading Platform | MetaTrader 4 and MetaTrader 5 |
| Commission (Per lot) | $0.0 |
| Spreads From | 1.0 pips |
| Minimum Deposit | $200 |
| Maximum Leverage | 1:500 |
| Server Location | New York |
| Micro Lot Trading (0.01) | Available |
| Currency Pairs | 64 |
| Index CFD Trading | Available |
| One-Click Trading | Available |
| Stop Out Level | 50% |
| Islamic Account | Available |
| Trading Styles Allowed | All |
| Order Distance Restriction | None |
| Programming Language | MQL4 |
Raw Spread Account
The Raw Spread Account provides traders with raw interbank spread received directly from IC Markets’ liquidity providers. On this account type, traders are charged with ultra-low spreads (from 0.0 pips on major currency pairs), alongside a small commission of $3.5 per standard lot round turn.
The Raw Spread Account is ideally suited for traders who are comfortable with paying a little commission in exchange for deeper liquidity and ultra-low spreads (From 0.0 pips on major currency pairs). These include active traders, high-volume traders, and scalpers.
Raw Spread Account Features
| Account Type | Raw Spread Account |
|---|---|
| Trading Platform | MetaTrader 4 and MetaTrader 5 |
| Commission (Per lot) | $3.5 |
| Spreads From | 0.0 pips |
| Minimum Deposit | $200 |
| Maximum Leverage | 1:500 |
| Server Location | New York |
| Micro Lot Trading (0.01) | Available |
| Currency Pairs | 64 |
| Index CFD Trading | Available |
| One-Click Trading | Available |
| Stop Out Level | 50% |
| Islamic Account | Available |
| Trading Styles Allowed | All |
| Order Distance Restriction | None |
| Programming Language | MQL4 |
Raw Spread Account (cTrader) Features
| Raw Spread Account (cTrader) Features | Specifications |
|---|---|
| Trading Platform | cTrader |
| Commission (Per lot) | $3.0 |
| Spreads From | 1.0 pips |
| Minimum Deposit | $200 |
| Maximum Leverage | 1:500 |
| Server Location | London |
| Micro Lot Trading (0.01) | Available |
| Currency Pairs | 64 |
| Index CFD Trading | Available |
| One-Click Trading | Available |
| Stop Out Level | 50% |
| Islamic Account | Available |
| Trading Styles Allowed | All |
| Order Distance Restriction | None |
| Programming Language | C# |
Asset Classes
IC Market offers a wide variety of global markets including forex, commodities, stocks, indices, bonds, cryptocurrencies, and futures, with over 2250+ instruments to trade. This makes it an ideal broker for traders who want to diversify into other markets from the comfort of a single trading account.
Asset Class Overview
| Assets Classes | No. Of Assets |
|---|---|
| Forex | 61 |
| Commodities | 22 |
| Stocks | 1659 |
| Indices | 25 |
| Bonds | 11 |
| Cryptocurrency | 10 |
Spreads and Commissions
Compared to other industry-standard brokers, IC Markets offers very low spreads across instruments it provides on its brokerage platform. This is possible through their strong relationships with some of the largest and most reliable liquidity providers in the industry.
IC Markets offers different pricing structures across its account types, which are the Standard account and Raw Spread account.
On the Standard account, traders are not charged a commission when they place a trade, instead, the broker marks up the spreads received from their liquidity provider as compensation for the liquidity they provide to you. While on the Raw Spread account, traders are charged with ultra-low spreads (from 0.0 pips on), alongside a small commission of $3.5 per standard lot round turn.
Payments Methods
IC Markets provide traders with a wide range of fast and secure payment methods which makes it easy for trades to transact using their preferred payment method. Also, it does not charge a deposit or withdrawal fee.
The payment method supported by IC Markets includes;
- Bank Payment – Wire Transfer, Internet banking
- Card Payments – Credit and debit cards
- Electronic Payment – Paypal, Neteller, Neteller VIP, Skrill, UnionPay, RapidPay, POLI.
Trading Platforms
IC Markets does not offer a proprietary trading platform though traders a provided with access to industry-standard trading platforms including; MetaTrader 4, MetaTrader 5, and cTrader.
Here is a breakdown of IC Markets Trading Platform Offering
| Trading Platform Offering | Specification |
|---|---|
| Trading Platform (Proprietary) | No |
| Trading Platforms (Third-party) | MetaTrader 4, MetaTrader 5, cTrader and ZuluTrade |
| Social Trading | No |
| Copy Trading |
Customer Support
IC Markets provides clients with an outstanding dedicated customer support service. The support team is available 24/7 and can be reached via live chat, telephone, and email.
Summary
IC Market is an industry-leading broker fit for all types of trading techniques and styles. The broker has built their reputation over the years by offering optimal trading conditions, one of which is their ultra-tight spreads which they are popularly known for, among other great trading conditions they offer.
IC Market is also considered a safe and trustworthy broker to work with as they are fully licensed and regulated by top-tier financial regulatory bodies across the world which includes ASIC (Australian Securities and Investments Commission), FSA (The Seychelles Financial Services Authority), and CYSEC (The Cyprus Securities and Exchange Commission) which is also a member of ESMA (The European Securities and Markets Authority).