IC Markets Review
Pros and Cons
IC Markets is a broker that allows you to trade forex, indices, commodities, and stocks online. The Australian Securities and Investments Commission licences and regulates the company, which has been in operation since 2007. It provides traders with access to global financial markets with competitive spreads and no trade commissions. They strive to provide its clients with quick execution times, cutting-edge technology, and reliable trade execution.
It accepts traders from Australia, Thailand, France, Germany, Norway, Sweden, Italy, Denmark, the United Arab Emirates, Saudi Arabia, Kuwait, the United Kingdom, South Africa, Singapore, Hong Kong, India, Luxembourg, and Qatar, as well as majority of other countries.
The MT4 trading platform is offered by IC Markets. The MT4 trading platform is widely used by traders all over the world. Many features are available on the platform, including the ability to trade Forex, CFDs, and futures. You can also use the platform’s indicators and charting tools to trade profitably. Furthermore, there are several tools available on the MT4 platform that can assist you in effectively managing your risk. To use this platform, traders need to have Windows 7 or higher.
IC Markets also offers the MT5 platform for their clients. The MT5 platform offers a lot of features that are beneficial to traders. Some of these features include:
- wide range of tradable assets
- Real-time quotes and charts
- Multiple order types
- Access to over 50 technical indicators
The IC Market MTWebTrader Trading Platform is a valuable resource for anyone involved in forex trading. It enables quick viewing of price charts and market depth. It also includes a number of useful tools, such as a margin calculator, economic calendar, and newsfeed. These features enable traders to make well-informed decisions while actively trading.
Boradly, IC Markets offer two different types of accounts to cater to the needs of traders –
IC Markets provides a Standard account for all levels of traders. The Standard account is free of charge and allows you to trade in all instrument types, including Forex, CFDs, and metals. You can open a Standard account with as little as $200, or you can practise first with the IC Markets Demo account. Spreads begin from 0.6 pips. The Standard account provides up to 1:500 leverage and 24/5 support.
The Raw Spread Account (RSA) is IC Markets’ newest product, allowing traders to trade the underlying spread between the prices at which a currency pair can be bought and sold. Spreads for this account start from 0.1 pips and the commission is charged at $3.5 per lot. Its MetaTrader 4 and 5 platforms are the most popular among active day traders and scalpers around the world. There are two primary advantages to using RSA:
- Traders may benefit from narrower spreads as the market moves against them, and
- Traders can hedge their positions more easily and without fear of price slippage.
IC Markets Instruments
There are several instruments that traders can trade on IC Markets, which include:
- 61 Forex Currency Pairs (Major, Minor & Exotic Crosses)
- 4 global futures
- 25 Indices
- 22+ Commodities
- 11+ Bonds
IC Markets Deposit & Withdrawals
IC Market offers different ways to initiate deposits and withdrawals. Traders can make deposits via credit cards, paypal, wire transfer, Skrill, Neteller, and other modes. Broker to broker funding option is also feasible. However, it doesn’t accept payments from any third-party.
Withdrawals are fast, like deposits. IC Markets does not charge any extra fee for deposits and withdrawals. You can withdraw money the same way you deposited. However, the time period may differ. For instance, credit card withdrawals may take 3-5 days to reflect into your account.
IC Markets Minimum Deposit
To begin trading with IC Markets, you need to have a minimum deposit of at least $200. There are multiple ways you can fund your account, from debit cards, paypal, wire transfer, to other online payment modes.
IC Markets Demo Account
Both account types offer demo accounts. You can select your preferred trading platform and start practising.
Contact and Customer Support
IC Markets offers services 24/7 to its customers spanning all across the world. You can communicate with customer service in your preferred language. The mode of communication includes email, phone calls, and other online chatting portals.
Opening an account with IC Markets is a simple process. You can visit the Open Live Account page on IC Markets’ website. After filling some basic information, you can submit your application. Once your application is approved, you will receive your account details via mail and you can begin trading.