Reviews
ASIC, CySec, FSA
- Maintains regulatory status in one tier-1 jurisdiction and one tier-2 jurisdiction, making it a safe broker (average-risk) for trading forex and CFDs.
- Offers competitive pricing across all account types with low average spreads.
- Third-party research and trading tool plugins enhance the IC Markets MetaTrader offering.
- IC Markets is our top-ranked MetaTrader broker in 2022.
- Has significantly expanded its range of markets from 204 symbols to more than 3,500.
- IC Markets’ low-cost, scalable execution makes it a perfect fit for traders who want to run algorithmic strategies.
- Trails the best forex brokers when it comes to its scope of market research and the quality of its educational content.
- Lacks a proprietary trading app.
IC Markets Overview
IC Markets is a reputable and established online trading brokerage based out of Sydney Australia (Regulated by ASIC). The company was founded in 2007 and is owned and operated by International Capital Markets PTY, with their headquarters locates at L4, 50 Carrington Street, Sydney, NSW.
The online broker is well known in Australia and is considered to be the best online brokerage available in the Country as it offers the highest available leverage in Australia, low spreads and fees, and much more.
The trading brokerage strives to bridge the gap between retail clients and big institutional investors by offering investment solutions that were once only offered by investment banks and high net worth individuals.
IC Markets primarily offers their traders forex trading, but also delves into some choices of futures, indices and commodities.
IC Markets Regulation & Reputation
The IC Markets brokerage became licensed and regulated by the Australian Securities & Investments Commission (ASIC) in 2009 under licence number 335692.
The brand is known as one of the most reputable online trading brokers on the market. ASIC is a trustworthy and strict regulatory agency which imposes stringent guidelines and procedures for the platform to follow.
Also, in addition to ASIC regulation, the brokerage is a member of the Financial Ombudsman Service (FOS). This service allows clients of IC Markets to resolve any complaints they have in a prompt and professional fashion.
This gives traders an additional layer of protection and customer satisfaction by knowing they will be protected if any issues were to arise.
IC Markets also operates via two other regulated brands:
- IC Markets (SC) is owned by Raw Trading Ltd and regulated by the FSA in the Seychelles.
- IC Markets (EU) is provided for European traders and is regulated by CySec (and conforms to recent ESMA restrictions on leverage etc).
These brands offer traders to ability to seamlessly move between each, allowing them to choose the level of regulatory oversight and protection they are comfortable with
Account types
There are three account types at IC Markets, which differ in their fee structure and the available trading platform:
| True ECN with cTrader | True ECN with MetaTrader – Tested Account | Standard | |
|---|---|---|---|
| Commission per lot (round turn*) | $6 | $7 | No commission |
| Spread | Low spreads | Low spreads | High spreads |
| Trading platform | cTrader | MetaTrader 4 and MetaTrader 5 | MetaTrader 4 and MetaTrader 5 |
| Available accounts by ownership | Individual, joint, corporate | Individual, joint, corporate | Individual, joint, corporate |
| Islamic account available** | Yes | Yes | Yes |
Fees
We have broken up the other fees and transaction costs a trader is likely to encounter with IC Markets and explained what these fees entail.
| IC Markets Fee Type | Charge |
|---|---|
| Raw Spreads (Forex) – commission | USD$7 Round-turn commission per standard lot ($3.5 per side) |
| Standard Spreads (Forex) | 1.0 Pip |
| cTrader Raw Spreads (Forex) | USD$3.0 per USD100k |
| Rollover / Overnight Fees | Varies by currency pair |
| Withdrawal Fees | $0 |
| Deposit Fees | $0 |
| Inactivity Fees | $0 |
| MT4 Advanced Trading Tools | Free |
| MyFxBook AutoTrade (Social Trading) | 0.6 Pip + Standard Account Spread of 1 Pip |
| ZuluTrader | 1.5Pip + Standard Account Spread of 1 Pip |
| Virtual Private Server (VPS) | Sponsorship available |
| Demo Account | Free |
It's safe to say that IC Markets's fees are low in general. They either don't charge a brokerage fee for things other brokers do charge for, or they only charge a small amount. This means that you can use IC Markets even in case you trade frequently like multiple times a week or daily.
Here's a high level overview of IC Markets's fees
| Assets | Fee level | Fee terms |
|---|---|---|
| EURUSD | Low | MetaTrader raw spread account: $3.50 commission per lot per trade plus spread cost. 0 pips is the average spread cost during peak trading hours. |
| GBPUSD | Low | MetaTrader raw spread account: $3.50 commission per lot per trade plus spread cost. 0 pips is the average spread cost during peak trading hours. |
| S&P 500 CFD | Low | The fees are built into the spread, 0.2 points is the average spread cost during peak trading hours. |
| Inactivity fee | Low | No inactivity fee |
Products traded on IC Markets
One of the advantages that makes it difficult for investors to ignore IC Markets is the extremely diverse trading products. Specifically, at IC Markets you can trade the fo llowing product groups:
-
Forex : Trade 61 currency pairs including major, minor, rare with the lowest spreads, superior execution and deep liquidity.
- Commodities: Trade CFDs on spot and forward contracts with over 20 commodity codes including: energy, agricultural products, metals.
- Indices: Access the global stock market through trading with 25 indices including: Australia's S&P 200, UK's FTSE 100, US E-mini S&P 500 and US DJIA…
- Bonds: Over 9 bonds issued by the governments of Japan, Europe, UK, USA are available on IC Markets for trading, with deep liquidity and no commission.
- Cryptocurrencies: Bulk buying and selling of the world's most popular digital currency,
- Stocks: Access over +2100 large-cap stocks and ETFs CFDs on the ASX, NYSE and NASDAQ exchanges.
- Futures: offers 4 forward contracts from around the world, including: ICE Dollar index (DXY), CBOE VIX index, Brent Crude Oil, WTI Crude Oil.
Trading Platforms
MetaTrader 4, MetaTrader 5, and cTrader are 3 of the best trading platforms available today. IC Markets has revolutionised trading by giving traders direct access to our Raw Pricing using any of these 3 popular trading platforms.
Desktop Platform
The platform features are all powerful and there is no need for us to go into detail. You can choose from a variety of platforms that you can use via the Web Platform or right from your browser. Or, you can download a Desktop version to enjoy all customization MetaTrader and cTrader features.
IC Markets is a comprehensive platform that takes trading to the next level. The platforms offer many additional features and extensions, such as a one click trade module, market depth, spread Monitor, trade risk calculator and advanced orders, which were previously unavailable on MetaTrader 4.
Mobile Platform
Mobile apps are also available. They are extremely useful for traders who want to keep up with market conditions wherever they are. Similarly, MT4, MT5 or cTrader can be accessed via Android and iOS devices. This allows account management and control of the positions.
Auto Trading
Auto trading is compatible to all broker's platforms. EAs at MT4 and MT5 myfxbook on cTrader platform. ZuluTrade also available. ZuluTrade, one of the most popular social trading platforms, allows you to choose from thousands of skilled traders and follow their trading signals free of charge.
MAM and PAMM offer multi-account management tools that are flexible and easy to navigate if you're willing to join the broker's partnership. FIXoffers a great opportunity to high-volume traders. VPS (Virtual Private Server), allows you to run a variety automated trading strategies and can be used for free (if you reach a minimum volume of 15 round turns (FX) lots per month).
IC Markets Deposit and Withdrawal
Credit / Debit Card withdrawals* are processed free of charge. Once processed, Credit / Debit Card withdrawals may take 3-5 business days to reach you credit card. You should however be aware that in some rare occasions, this may sometimes take up to 10 business days depending on the banks end.
IC Markets does not charge additional fees for deposits and/or withdrawals. However, you should be aware that additional fees may occur at some banking institutions. IC Markets is not responsible for any additional bank charges.
Withdrawal requests cut off time is 12:00 AEST/AEDT. If your withdrawal is submitted before this time it will be processed on the day of receipt. If your withdrawal is submitted after this time it will be processed on the following business day.
Customer Service
Customers have described IC Markets' customer service as excellent compared to other brokers, and it is available 24/7, which is exceptional given the norm is 24/5. In addition, traders from all over the world have access to hands-on support provided in a variety of languages. Several languages are available for customer service, including Dutch, German, English, Danish, Polish, Japanese, and Chinese.
Customer support at IC Markets is available in various channels, including phone, email, and live chat.
Conclusion
ICMarkets is a reputable exchange , licensed and regulated by the most trusted financial regulators in the World. Most importantly, as a forex trader like you, your I personally have never had any problems in both the transaction and withdrawal process.
Therefore, with the reviews from the Reviewsan.vn team, we believe that ICMarkets trading platform deserves to be one of the best choices for you.
IFAQ
Are IC Markets regulated?
Yes, they are licensed and regulated by the Australian Securities & Investments Commission (ASIC).
What methods can I use to deposit funds at IC Markets?
Credit and Debit Cards, Bank Wire Transfers, Broker to Broker transfer, Branch Cash Deposit, BPay Deposit, PayPal, Skrill, Neteller, WebMoney, QIWI, China Union Pay, and FasaPay.
Does IC Markets accept international traders?
Yes, but they do not accept traders from the United States and Canada.
Is there a fee for making a withdrawal?
There are no fees for domestic withdrawals and with e-wallets. International withdrawals do have a $20 AUD fee.
What is the minimum initial deposit requirement at IC Markets?
Traders are required to deposit an initial amount of $200.
IC Markets Trading Hours?
IC Markets operate alongside global markets. So trading will be available as an when markets around the world are open, so trading hours reflect markets hours. In terms of opening hours, the IC Support desk is open 24 hours a day, for 5 days a week.
