IC Markets Basics
| 🏛️ Based in | Sydney, Australia |
|---|---|
| ⚖️ Regulation | ASIC, AFSL |
| 💰 Minimum Deposit | $200 |
| 💳 Deposit Options | VISA, MasterCard, Bank Wire, Skrill, PayPal, Poli, Neteller, BPAY, UnionPay, and FasaPay. |
| 💳 Withdrawal Options | VISA, MasterCard, Bank Wire, Skrill, PayPal, Poli, Neteller, BPAY, UnionPay, and FasaPay. |
| 📌Open an account | Start Trading with IC Markets |
Our Opinion About IC Markets
IC Markets is a world-class forex broker. It offers a transparent trading environment complete with easy market access, low latency trading, and excellent trading conditions. It also offers great educational resources, helpful trading tools, and fantastic customer support.
Key Benefits
IC Markets Regulation
IC Markets is a licensed forex broker. It has an Australian Financial Services Licence (AFSL) to carry on a financial services business in Australia, limited to the financial services covered by its AFSL.
Regulation In Europe
IC Markets has an excellent reputation and is regulated by some top-tier authorities. European traders can open a trading account with IC Markets via their CySEC-regulated business entity, which is licensed by the Cyprus Securities and Exchange Commission. CySEC is a reputable regulatory authority and provides a high level of market oversight. They have strict guidelines that encourage brokers to treat clients fairly and offer good client fund protection. As such, with the CySEC-regulated entity, you can expect good services and excellent client fund security.
Fund Safety
IC Markets complies with all local regulations relating to client fund management and client fund protection. The company keeps its clients’ funds in segregated trust accounts. This means that it keeps client funds separate from company funds. It also means that it does not use client funds for any purpose other than to maintain the margin needed to cover positions opened by clients.
IC Markets: Legit Or Scam?
In our view, IC Markets is a legit forex broker. They offer a robust online trading service and a secure trading environment. They have been operating in the forex industry, under strict regulatory oversight, for several years. IC Markets is also licensed by some of the strictest regulatory bodies in the world, including CySEC, and is a safe choice for forex traders in Europe. In terms of their trading products, they have good account types, fair trading conditions, and low trading costs. They also have a good range of funding methods and straightforward withdrawal policies. In our opinion, they are a reputable and trustworthy forex broker.
Trading Assets
IC Markets has 80+ trading instruments for you to choose from. You can create trading strategies for forex pairs, commodities, indices, bonds, stocks, and cryptocurrencies.
Trading Instruments
- Forex: They provide access to 60 forex pairs including majors, minors, and exotics.
- Commodities: They provide access to metals, energies, and agricultural products.
- Stocks: They provide access to 1,600+ CFDs such as Apple, Alphabet, Microsoft, and Tesla.
- Indices: They provide access to 23 stock indices including NASDAQ and the S&P 500.
- Bonds: They provide access to trading on 11 bonds
- Cryptos: They provide access to Bitcoin, Bitcoin Cash, Ethereum, Dash Coin, Ripple & Litecoin.
Account Types
IC Markets has three account options: a Raw Spread Account, a Raw Spread (cTrader) Account, and a Standard Account. The platforms, commissions, and spreads available vary depending on which account type you choose.
| Type | Spreads | Min. Deposit | Max. Leverage | Commission |
|---|---|---|---|---|
| Standard | From 0.6 pips | $200 | 1:30 | $0 |
| Raw (cTrader) | From 0.0 pips | $200 | 1:30 | $6 per lot |
| Raw (MetaTrader) | From 0.0 pips | $200 | 1:30 | $7 per lot |
Live Accounts
The IC Markets live trading accounts are great for European traders. They have excellent trading platforms, fair trading conditions, and good trade execution. They also have simple, transparent pricing. For example, you can trade with either no commissions or no spreads, depending on which trading account you pick. The minimum deposit is $200 on all accounts.
PAMM Accounts
As part of our IC Markets review, we looked to see if they offer PAMM account services. PAMM accounts are a good tool for experienced and professional traders. This is because they enable expert traders to manage trading account for other people, and to automatically share their trading strategies across multiple accounts, in exchange for a small fee. To find out more about the IC Markets PAMM account service, you should contact their customer support team.
IC Markets Leverage
The maximum leverage for forex pairs is 1:30 on their live accounts.
IC Markets Commission
The maximum commission fee is $7 per lot on their live accounts.
Demo Accounts
As part of our IC Markets review, we also looked to see if they offer demo accounts. Demo accounts are a good tool for beginners. This is because they enable new forex traders trade using virtual money, instead of real funds, and to test different trading strategies in a safe, zero-risk trading environment. As such , the IC Markets demo account is very helpful.
Islamic Swap-Free Accounts
All of the IC Markets trading accounts have swap-free versions available.
IC Markets Registration: How To Open An Account
As part of our IC Markets broker review, we had a look at their account registration process. If you live in Europe, then you are eligible to open an online trading account with IC Markets. The online registration process is quite simple and shouldn’t take too long to complete.
The first step is to go to the company website and fill in their online registration form. This is so that IC Markets can collect some basic personal information, confirm your account login details, and start creating your online trading account. The next step is to take a quick forex trading quiz . This is so that they can see what you know about trading and determine if their services are suitable for you. If you pass the test, you can process to the final step in the process, which is account verification. During this final step, IC Markets will ask you to send them copies of certain documents, so that they can check your identity, complete their required regulatory checks, and approve your trading account.
IC Markets Registration: How To Verify Your Account
In order to open a trading account you need to send IC Markets a proof of ID. This could be a copy of your passport or a copy of another form of government ID, such as your driver’s license or a national identity card. You also need to send a secondary form of ID showing your name and residential address. This could be a copy of a utility bill, a bank statement, or a government issued tax document.
IC Markets Deposits & Withdrawals
IC Markets offers many different payment options. You can fund your account using credit cards, debit cards, bank transfers, Paypal, Skrill, Neteller, Qiwi, Webmoney, and FasaPay. You can also withdraw money from your account using any of those payment methods.
IC Markets Trading Platforms
IC Markets has MT4, MT5, and cTrader. All three of their trading platforms come with great connectivity, fast execution, and excellent trading conditions.
MetaTrader4 (MT4) is one of the most highly downloaded trading platforms in the forex industry, and a nice option for new forex traders in Europe. It is free to use so you don’t have to worry about any extra costs. It has a simple layout and comes with helpful online trading tools. You can use the IC Markets MT4 platform to access all of their trading assets including forex, shares, and indices. The platform also has many helpful charting tools, 4 order execution types, 30 technical indicators and 23 analytical objects. This means that you can easily use it to analyse the markets and manage your trades.
MetaTrader5 (MT5) is one of the most commonly used trading platforms in the forex industry, and a nice option for intermediate traders in Europe. It was released after MetaTrader4, so it has a more modern design, and comes with better features. You can use it to start trading the financial markets and to access any of the available trading instruments. The IC Markets MT5 platform also has a nice range of trading tools including 6 order execution types, 38 indicators, and 37 analytical objects. This means that you can easily use to access different charts and plan your trades.
cTrader is a less well-known but equally effective online trading platform. It has a nice, modern layout and comes with plenty of features. You can access a wide range of CFD trading instruments including forex, metals, and stocks. The IC Markets cTrader platform also comes with 6 order types, 55 technical indicators, an economic calendar, and market sentiment tools. This means that you have everything you need to access the financial markets and make good trading decisions.
Trading Tools
IC Markets offers some helpful trading tools. It has a free trading calculator that you can use to calculate the pip values in your account. It also has a free economic calendar that you can use to monitor upcoming data releases and economic events.
IC Markets Education
IC Markets has excellent educational resources. Its information hub has free educational materials, fundamental market analysis, technical market analysis, and trading data. It also has a free webinar series and a free educational video series. You can use these resources to improve your market knowledge and trading skills.
Extra Trading Services
IC Markets has a free Web TV service. Offered as part of a partnership with Trading Central, their Web TV service provides you with ongoing market commentary and useful trade ideas.
IC Markets Trading Hours
IC Markets operates during standard market hours across all financial markets. You can trade forex whenever the forex market is open. Standard hours may vary for some public holidays.
IC Markets Customer Support
IC Markets has a great customer service team. They offer round-the-clock customer support and are happy to help you with any questions you may have about your trading accounts. You can contact them via live chat, email, or phone.
Our Conclusion
IC Markets is a reliable and trustworthy forex broker. It offers great account options, competitive trading conditions, and excellent trading platforms. It also offers excellent educational resources, in-depth market analysis, and fantastic trading support.
IC Markets Forex Broker Review FAQ
Yes, IC Markets is a good broker with excellent online trading conditions. It is for investors who want to run automated trading strategies on MT4, MT5, and cTrader platforms. IC Markets provides social copy trading platforms and a growing selection of research and educational materials and offers competitive pricing. They continue to develop new products that will improve your experience as an investor – from the simple tools you need to get started trading right away to more advanced strategies that allow you to automate your trades.
If you are wondering whether IC markets is a legit broker, the answer is straightforward! IC Markets has been around for a long time. It’s been around since 2007 and is one of the most popular brokers in the industry today. It has a great reputation for being both reliable and trustworthy. In addition to this, it’s licensed by the ASIC, meaning it meets all of their minimum standards. This makes it one of the safest brokers to use when trading today!
IC Markets is a safe forex broker. IC Markets is a regulated forex broker. They are regulated by CySEC, the Cyprus Securities and Exchange Commission, and follow all the required regulatory guidelines. As such, they are a safe choice for traders in Europe.
Yes, IC Markets is an ECN Broker. ECN brokers are a type of broker that you can use to trade Forex and CFDs. These brokers typically offer the lowest spreads because they don’t have to deal with the full range of customer orders that traditional brokers do. They also allow European traders to place their trades directly with the broker instead of through another intermediary.
Cent accounts are for European traders who have just started their trading journey and don’t know where to start. You can usually open a cent account with as little as $1 and start trading immediately! Unfortunately, IC markets does not currently offer a cent account.
Micro accounts are for European traders who may not yet be ready for a full-fledged live account but still want some access to the markets while they learn how they work. It is a low-risk, low-cost way to get started trading. Unfortunately, IC markets does not currently offer a micro account.
IC Markets live account is a great way to start trading with IC Markets, as it provides access to all of the features of a full-blown account. The best thing about this type of account is that it gives you access to the markets, live customer support, and real-time updates.
IC Markets does not currently offer any forex bonuses. However, most licensed forex brokers do not offer forex bonuses to forex traders in Europe. This is because of local regulatory restrictions that limit promotional offers in Europe.
Yes, IC Markets allows you to hedge your trades. The company offers various cross-currency trading services, including spot and forwards. You can also set up a short or long position in your chosen currency.
As part of our IC Market broker review, we checked their standard funding methods. There are several IC Markets deposit methods available. You can try traditional providers, such as bank transfers, debit cards, and credit cards. You can also try third-party payment providers such as Skrill, PayPal, Poli Neteller, BPAY, UnionPay, and FasaPay.
As part of our IC Market broker review, we also checked their Bitcoin payment options. IC Market does accept bitcoin (BTC) deposits. You can deposit funds into ICMarkets from your Bitcoin wallet or any other digital wallet that supports Bitcoin. This includes sites like Coinbase, Xapo, and BitPay. IC Market accepts deposits using Bitcoin.
IC Markets is one of the best European forex brokers. They have great trading accounts with low minimum deposits and low trading costs. They also have a wide range of trading instruments, trading platforms, and trading tools. However, if you want to look at alternative options, there are many other great forex brokers as well. We suggest HotForex, FXTM, FXPrimus, and FXPro.
Ready to start trading? Register for an online trading account with IC Markets here. Looking for other option? Check out our full forex broker review list.