IC MARKETS REVIEW 2024: COMPREHENSIVE GUIDE FOR TRADERS

IC Markets Review

IC Markets, established in 2007, is a prominent online forex and CFD broker known for its competitive trading conditions, wide range of instruments, and advanced trading platforms. This article provides a detailed overview of IC Markets, including its pros and cons, account types, trading platforms, and regulatory status.

General Risk Warning

Trading forex and CFDs involves significant risk and may not be suitable for all investors. It is important to understand the risks involved, including the potential for loss of your entire investment. Ensure you fully understand the risks before trading and consider seeking independent financial advice if necessary.

IC Markets Full Review

IC Markets offers a variety of trading instruments, including forex, commodities, indices, cryptocurrencies, and bonds. The broker provides access to multiple trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader. IC Markets is known for its low spreads, fast execution, and excellent customer support.

General Information & First Impressions

IC Markets is headquartered in Sydney, Australia, and has a global presence with clients from over 160 countries. The broker is regulated by multiple reputable financial authorities, ensuring a high level of trust and security. The first impression of IC Markets is positive, with a user-friendly website and a wide range of trading resources available.

IC Markets Pros and Cons

Pros:

• Competitive spreads starting from 0.0 pips
• Fast execution speeds
• Multiple advanced trading platforms
• Strong regulatory framework
• Wide range of tradable instruments

Cons:

• Minimum deposit of $200 may be higher than some other brokers
• Limited educational resources for beginner traders

Who Is IC Markets For?

IC Markets is ideal for both beginner and experienced traders. Beginners can benefit from the user-friendly platforms and low minimum deposit, while experienced traders will appreciate the competitive spreads, fast execution, and advanced trading tools. The broker's wide range of instruments makes it suitable for various trading strategies.

Account Types and Benefits

IC Markets offers three main types of accounts to cater to different trading needs:

IC Markets Trading Platforms

IC Markets provides access to several advanced trading platforms:

• MetaTrader 4 (MT4): Known for its user-friendly interface and comprehensive charting tools.
• MetaTrader 5 (MT5): Offers additional features and improved performance over MT4.
• cTrader: Suitable for advanced traders looking for more sophisticated trading capabilities.

IC Markets Mobile Trading

IC Markets’ mobile trading apps for iOS and Android offer full functionality, allowing traders to manage their accounts, execute trades, and monitor the markets on the go. The mobile apps include all the essential features of the desktop versions, ensuring a seamless trading experience.

IC Markets Trading Features

IC Markets offers several innovative trading features:

• Social Trading: Allows users to follow and copy trades of successful traders.
• Automated Trading: Supports Expert Advisors (EAs) on MetaTrader 4 and 5.
• API Trading: For advanced traders who require custom trading solutions.

IC Markets Research & Education

IC Markets provides some educational resources, including market analysis, economic calendars, and trading signals. However, compared to other brokers, the educational offerings are limited, which may require traders to seek additional learning resources elsewhere.

IC Markets Regulations & Licensing

IC Markets operates under multiple regulatory frameworks:

• Australian Securities and Investments Commission (ASIC)

  • Entity: International Capital Markets Pty Ltd
  • License Number: 335692
  • Regulatory Tier: Tier 1
  • Region: Australia

• Cyprus Securities and Exchange Commission (CySEC)

  • Entity: IC Markets (EU) Ltd
  • License Number: 362/18
  • Regulatory Tier: Tier 1
  • Region: European Economic Area (EEA)

• Seychelles Financial Services Authority (FSA)

  • Entity: Raw Trading Ltd
  • License Number: SD018
  • Regulatory Tier: Tier 3
  • Region: Global (excluding certain countries)

• Securities Commission of The Bahamas (SCB)

  • Entity: IC Markets Ltd
  • Regulatory Tier: Not explicitly tiered in the available data
  • Region: Global (excluding certain countries)

IC Markets Pricing

IC Markets offers competitive pricing with spreads starting from 0.0 pips on Raw Spread accounts. The broker charges a commission of $3.5 per lot per side on Raw Spread accounts, while Standard accounts are commission-free with slightly higher spreads.

IC Markets Deposits & Withdrawals

IC Markets supports various deposit and withdrawal methods, including bank transfers, credit/debit cards, PayPal, Skrill, Neteller, UnionPay, BPAY, FasaPay, and Poli. Deposits are generally processed quickly, especially through electronic methods, which typically appear instantly in your trading account. Wire transfers may take a few days to process depending on the origin of the transfer.

Customer Support

IC Markets provides customer support 24/7 via live chat, email, and phone. The support team is known for being responsive and helpful, providing assistance with technical issues, account management, and trading inquiries.

IC Markets Trading Experience

Overall, IC Markets offers a positive trading experience with its robust platforms, competitive pricing, and innovative features. The broker’s low spreads, fast execution speeds, and wide range of instruments make it a popular choice among traders.

IC Markets Spreads

IC Markets Swap Fees

Available Languages

IC Markets’ website and customer support are available in multiple languages, including English, Spanish, French, Chinese, and more, catering to a global clientele.

Charts Available

IC Markets provides various types of charts, including line charts, bar charts, and candlestick charts, all accessible through MetaTrader 4, MetaTrader 5, and cTrader.

Order Types

IC Markets supports multiple order types:

• Market Order
• Stop Loss
• Trailing Stop
• Limit Order

Order Execution Model

IC Markets uses a No Dealing Desk (NDD) execution model, ensuring fast and reliable order execution with minimal intervention.

MetaTrader 4 and 5

IC Markets offers both MetaTrader 4 and MetaTrader 5, providing advanced trading tools, automated trading capabilities, and comprehensive charting options.

Islamic Account

IC Markets offers Islamic accounts that comply with Sharia law, ensuring no swap fees on overnight positions.

Maximum Leverage by Asset Class

What Can You Trade with IC Markets?

IC Markets offers a wide range of tradable instruments, including:

• Forex
• Cryptocurrencies
• Commodities
• Indices
• Stocks
• Bonds

Tradable Instruments

Is IC Markets a Scam Broker?

IC Markets is a well-regulated and established broker with a solid track record. It operates under the regulations of ASIC, CySEC, FSA, and SCB, ensuring a high level of security and transparency. These regulatory bodies enforce strict standards for financial transparency, client fund segregation, and overall business conduct, making IC Markets a reliable and secure broker for global traders. The broker’s long-standing presence in the industry and positive user reviews further attest to its credibility.

Broker Details

IC Markets, established in 2007, has grown to become one of the largest forex and CFD brokers globally. It offers a wide range of trading instruments, including forex, commodities, indices, cryptocurrencies, and bonds. The broker is known for its competitive pricing, fast execution speeds, and advanced trading platforms.

Contact Info

For any inquiries or support, you can contact IC Markets via:

• Email: [email protected]
• Phone: +61 (0)2 8014 4280
• Live Chat: Available on their website

IC Markets vs. eToro

When comparing IC Markets to eToro, several key differences stand out:

• Platform: eToro offers a unique social trading platform, while IC Markets uses MetaTrader 4, MetaTrader 5, and cTrader.
• Minimum Deposit: IC Markets has a lower minimum deposit requirement of $200, compared to eToro's $200.
• Spreads: IC Markets offers competitive spreads starting from 0.0 pips on Raw Spread accounts, while eToro’s spreads can be higher.

IC Markets in 2024: What’s New?

In 2024, IC Markets continues to enhance its trading platform with new features and tools. The broker has expanded its range of tradable instruments and introduced new educational resources to help traders improve their skills. Additionally, IC Markets has improved its mobile trading app, offering a seamless experience for traders on the go.