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IC Markets BROKER REVIEW 2023

IC Makets a reputable forex Broker

IC Markets Forex Broker General Review

 IC Markets is a well-regulated Australian-based forex broker that offers traders access to deep liquidity pools and tight spreads through its ECN pricing model. It is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Services Authority (FSA). The broker offers its services to traders in over 200 countries and has a strong reputation in the forex trading industry. 


 With over 60 currency pairs, commodities, indices, and cryptocurrencies, traders can diversify their portfolios and take advantage of a range of market conditions. IC Markets offers MetaTrader 4, MetaTrader 5, and cTrader trading platforms, providing traders with a range of powerful tools and features. Customer support is available 24/7 via phone, email, and live chat, and the broker offers educational resources such as webinars, trading guides, and video tutorials. 


Overall, IC Markets is a highly respected forex broker that provides traders with a range of powerful trading tools and features. 

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IC Markets Trading Platform & Tools

 IC Markets offers its clients a range of trading platforms and tools, including:

  1. MetaTrader 4: This is one of the most popular trading platforms in the industry, offering advanced charting tools, a range of technical indicators, and automated trading capabilities through Expert Advisors (EAs).
  2. MetaTrader 5: This is the latest version of the MetaTrader platform and offers additional features and functionalities, such as more advanced order types and a built-in economic calendar.
  3. cTrader: This is a user-friendly platform that offers advanced charting tools, multiple timeframes, and a range of order types, including limit orders, stop orders, and market orders.
  4. Myfxbook AutoTrade: This is a social trading platform that allows traders to follow and copy the trades of other successful traders.
  5. MAM/PAMM accounts: IC Markets offers Multi Account Manager (MAM) and Percentage Allocation Management Module (PAMM) accounts, which allow money managers to manage multiple accounts at once and allocate trades to sub-accounts based on a percentage of their equity.
  6. VPS hosting: IC Markets offers VPS hosting services to clients who want to run automated trading strategies or use Expert Advisors (EAs). The VPS is located in the same data center as the broker's trading servers, ensuring low latency and fast trade execution.
  7. Trading tools: IC Markets provides a range of trading tools, such as an economic calendar, market analysis, and trading calculators, to help traders make informed trading decisions.

IC Markets Trading Conditions

 IC Markets offers competitive trading conditions to its clients, including:


  1. Account leverage: IC Markets offers flexible leverage of up to 1:500 for forex trading, which allows traders to control larger positions with a smaller initial investment. However, it is important to note that high leverage can increase the risk of loss as well as potential profits.
  2. Spreads: IC Markets offers tight spreads, starting from 0.0 pips on the EUR/USD currency pair. The broker uses an ECN pricing model, which provides traders with access to deep liquidity pools and allows for faster execution of trades.
  3. Stop out level: The stop out level at IC Markets is set at 50%, which means that if a trader's account equity falls below 50% of their used margin, their positions will be automatically closed to prevent further losses.
  4. Swap-free accounts: IC Markets offers swap-free accounts for clients who follow the Islamic faith, allowing them to hold positions for an indefinite period without paying or earning interest.
  5. Copy trading: IC Markets offers social trading through the Myfxbook AutoTrade platform, which allows traders to follow and copy the trades of other successful traders.
  6. Daily market analysis: IC Markets provides daily market analysis and insights through its blog, social media channels, and email newsletters, helping traders stay up-to-date with the latest market developments.
  7. Trading education: IC Markets offers a range of educational resources, including webinars, trading guides, and video tutorials, to help traders of all levels improve their trading skills and knowledge.
  8. VPS services: IC Markets offers VPS services to clients who want to run automated trading strategies or use Expert Advisors (EAs). The VPS is located in the same data center as the broker's trading servers, ensuring low latency and fast trade execution.

IC Markets Funding and Withdrawal Options

 IC Markets offers a range of funding and withdrawal options to its clients, including:


  1. Minimum deposit: The minimum deposit at IC Markets varies depending on the account type. The Standard account has a minimum deposit of $200, while the Raw Spread and cTrader accounts have a minimum deposit of $500.
  2. Deposit methods: IC Markets offers a range of deposit methods, including bank wire transfers, credit/debit cards, PayPal, Neteller, Skrill, WebMoney, Bpay, FasaPay, and UnionPay. Most deposit methods are processed instantly, while bank wire transfers may take 3-5 business days to reflect in the trading account.
  3. Withdrawal processing times: IC Markets processes most withdrawal requests within 24 hours, although it may take up to 5 business days for funds to reflect in the client's account, depending on the withdrawal method used. Withdrawals via bank wire transfer may take longer.
  4. Fees: IC Markets does not charge fees for deposits or withdrawals. However, clients may be charged fees by their payment provider or bank.

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IC Markets Broker Pros & Perks

 

Trading with IC Markets comes with several perks, including:

  1. Low spreads: IC Markets offers some of the lowest spreads in the industry, with spreads starting from 0.0 pips on the Raw Spread account. This is made possible through the broker's deep liquidity pools and ECN pricing model.
  2. Fast trade execution: IC Markets boasts fast trade execution speeds, with orders typically executed in less than 40ms. This is made possible through the broker's infrastructure, which includes servers in Equinix data centers and connectivity to major liquidity providers.
  3. Wide range of trading instruments: IC Markets offers a wide range of trading instruments, including forex, commodities, indices, cryptocurrencies, and bonds. This allows traders to diversify their portfolio and access multiple markets from a single trading account.
  4. Range of trading platforms: IC Markets offers a range of trading platforms, including MetaTrader 4, MetaTrader 5, cTrader, and Myfxbook AutoTrade. This allows traders to choose a platform that suits their trading style and preferences.
  5. Educational resources: IC Markets provides a range of educational resources to help traders improve their skills and knowledge. These include trading guides, video tutorials, webinars, and market analysis.
  6. Excellent customer support: IC Markets provides 24/7 customer support through phone, email, and live chat. The broker's support team is knowledgeable and responsive, and can help clients with any trading-related queries or issues.

IC Markets Recommended Account Type

-Account Name: Raw Spread Account

-Spreads: from  0.1pips EURUSD 

 -Commission: $3.50 per lot per side 

-Swaps: Yes

-Leverage: 1:1000

-Stop Out:50%

-Assets:1000+

-Minimum Deposit:  $200

-Deep Liquidity

- No restrictions scalping allowed

-Hedging Allowed

IC Markets Forex Broker Regulation

 

IC Markets is a regulated forex broker. The company is headquartered in Sydney, Australia, and is regulated by the Australian Securities and Investments Commission (ASIC). ASIC is the regulatory body in Australia responsible for ensuring that financial services companies operate in a fair and transparent manner and comply with strict regulatory requirements.


IC Markets is also registered with other regulatory authorities, including the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. These regulatory bodies ensure that IC Markets adheres to strict guidelines and regulations to protect the interests of its clients.


IC Markets is also a member of the Financial Ombudsman Service (FOS) and the Australian Financial Complaints Authority (AFCA). These organizations provide a mechanism for resolving disputes between financial services providers and their clients.


Overall, IC Markets' regulation by ASIC, as well as its registration with other regulatory bodies, provides traders with assurance that the broker operates in a fair and transparent manner and adheres to strict regulatory requirements.

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What to consider when choosing IC Markets as your Broker

 

When considering IC Markets as your broker, there are several factors you may want to consider. While the broker does not offer sign-up bonuses, managed accounts, or corporate accounts, there are still several other factors that may make IC Markets an attractive choice for traders. Some factors to consider when choosing IC Markets as your broker include:


Regulation: IC Markets is regulated by the ASIC, which is known for its strict regulatory standards. This provides traders with assurance that the broker operates in a fair and transparent manner and adheres to strict regulatory requirements.

IC Markets Broker does not accommodate clients from the following countries

 IC Markets accepts clients from many countries around the world. However, there are some countries where the broker does not currently offer services. These countries include:

  • United States
  • Canada
  • Israel
  • Iran
  • North Korea
  • Sudan
  • Syria
  • Japan
  • Belgium

It is important to note that this list may be subject to change, and it is recommended to check with the broker's website or customer support team for the most up-to-date information on which countries are eligible to open an account with IC Markets

FX Doctors IC Markets Broker Review Conclusion

 In conclusion, IC Markets is a regulated forex broker that offers traders low spreads, fast trade execution, and a wide range of trading instruments and platforms. The broker's regulation by ASIC, as well as its registration with other regulatory bodies, provides traders with assurance that the broker operates in a fair and transparent manner and adheres to strict regulatory requirements.


IC Markets' customer support is available 24/7 through phone, email, and live chat, and the broker offers a range of educational resources to help traders improve their skills and knowledge. The broker's flexible and convenient funding and withdrawal options make it easy for traders to manage their accounts.


Overall, IC Markets is an attractive choice for traders looking for a reliable and transparent forex broker. Despite not offering sign-up bonuses, managed accounts, or corporate accounts, IC Markets provides traders with a range of features and services that make it a top choice for many traders. If you're looking for a broker with fast trade execution, low spreads, and a wide range of trading instruments and platforms, IC Markets may be the right choice for you.

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