Is IC Markets the right choice for you? This comprehensive review explores everything you need to know about IC Markets, a trusted forex broker. Whether you’re a seasoned trader or just starting, this review will help you decide if IC Markets aligns with your investment goals.
Quick insights
Overall, IC Markets is a well-established forex broker with a strong regulatory framework, diverse account options, and reliable customer support. Its high trading critique score indicates a positive reputation among traders.
IC Markets broker review
IC Markets review is a regulated broker by the FSA, ASIC , and CySEC. With various payment methods and a dedicated support team, traders can easily fund their accounts and access a wide range of tradable instruments, including forex, commodities, stocks, indices, and bonds.
The platform provides powerful trading terminals for Windows, web browsers, Android, MAC, and iOS, allowing traders to access global markets from anywhere. With a trading volume of US$1.64 trillion in April 2024 and over 200,000 active clients worldwide, IC Markets is a trusted and reliable choice for traders of all levels.
IC Markets regulations
Is the IC market regulated? Yes, IC Markets is regulated by the following.
- Financial Services Authority (FSA) in Seychelles
- Australian Securities and Investment Commission (ASIC)
- Cyprus Securities and Exchange Commission (CySEC)
Security measures
The security measures of IC Markets are as follows.
- IC Markets Global holds client funds in segregated accounts with top-tier banking institutions, complying with the Securities Act and related regulations.
- IC Markets Global adheres to strict anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
- Trade with greater confidence knowing your fund protected by insurance up to US$1,000,000 per client.
How to open an account with IC Markets?
The IC Markets account opening process is given below as steps.
- Visit the official website of IC markets.
- Fill out your name, address, contact information, date of birth, and more. Provide information about your trading experience and investment goals.
- Choose account types like standard, raw, and cTrader.
- Review and carefully review the terms and conditions before agreeing.
- Once approved, your account is ready. Start trading!
Financial assets of IC Markets
IC Markets offers 2250+ tradable instruments, including the following.
- Forex CFDs
- Indices CFDs
- Commodities CFDs
- Bond CFDs
- Digital currencies
- Stocks CFDs
- Futures CFDs
IC Markets Forex broker CFDs
IC Markets forex offers a wide range of over 61 currency pairs to trade, with tight spreads starting from 0.0 pips. You can IC Markets maximum leverage your trades up to 1:1000, and benefit from deep liquidity in the market. With IC Markets, you can trade 24 hours a day, five days a week.
Indices CFDs
IC Markets offers a competitive trading environment for indices, with 25 major indices available to trade. Some of them are the Australian S&P 200 Index, the UK FTSE 100 Index, the US E-Mini S&P 500, and the US DJIA Index.
IC Markets leverage up to 1:200 and enjoy spreads as low as 0.4 pips. Benefit from deep liquidity in the index markets. Trade without commissions on a variety of trading platforms.
Commodities CFDs
IC Markets Global provides a flexible and user-friendly platform to trade over 24 CFDs on Commodities, encompassing energy, agriculture, and metals. You can trade both spot and futures CFDs with leverage up to 1:1000 and enjoy spreads as low as 0.0 pips.
Bond CFDs
IC Markets Global offers a wide range of over 9 Bond CFDs, allowing you to trade fixed-income debt securities with no commissions. Leverage your trades up to 1:200 and benefit from deep liquidity in the bond market.
Trade these CFDs 24/5 on popular platforms like MetaTrader 4 and 5. IC Markets Global Bond CFDs offer flexible lot sizing, enabling you to speculate on bond prices by going long or short.
Digital currencies
IC Markets Global provides a robust platform for trading Cryptocurrencies. Enjoy leverage up to 1:200 (MT4/MT5), 1:5 (cTrader/ Trading View), 24/7 trading, long/short positions, FSA regulation, zero commissions, and dedicated support. Trade Crypto CFDs with confidence.
Stocks CFDs
IC Markets Global’s 2100+ Stock CFDs provide traders with the opportunity to invest in some of the world’s most renowned companies. This includes Nvidia, Apple, Meta, Microsoft, and BHP Billiton.
With over 2100 stocks available, covering major exchanges like ASX, NASDAQ, and NYSE. You can benefit from ultra-fast execution and potentially earn dividends. Experience seamless trading with these single-stock CFDs on the MetaTrader 5 platform.
Futures CFDs
IC Markets Global offers a diverse range of 4 Futures CFDs, allowing you to trade popular financial instruments without commissions. The available futures CFDs are ICE dollar index futures, CBOE VIX index futures, WTI crude oil futures, and Brent crude oil futures.
Leverage your trades up to 1:200 and benefit from deep liquidity in the futures market. Trade these CFDs 24/5 on the user-friendly MetaTrader 4 and 5 platforms.
Trading platform of IC Markets
The trading platform of IC Markets is given below.
- Meta Trader 5 (MT5)
- Meta Trader 4 (MT4)
- cTrader
- Trading View
IC Markets MT5
- IC Markets Global MetaTrader 5 platform offers advanced features like charting technology, order management tools, and MQL5.
- These features aim to enhance your live trading experience and make it easier to monitor and control your positions efficiently.
- While the platform offers pre-installed technical indicators and trading robots, traders can also install more or develop their own Expert Advisors using MetaQuotes Language 5 (MQL5).
- It is available on web browsers, desktops, Andriod/iOS, and Mac.
IC Markets MT4
- An award-winning platform of IC Markets MetaTrader 4 platform offers advanced trading features like Trading Centre, Auto chartist, and Multi Terminal.
- These tools help traders monitor markets, identify trading opportunities, and manage multiple accounts efficiently.
- IC Markets reviewoffers theMetaTrader 4 trading platformon both itsstandard and Raw Spread account types.
- It is available on web browsers, iPad, Android/iOS, and Mac devices.
cTrader
- cTraderoffers amodern trading platformwith real-time quotes, low spreads, micro lot trading, flexible funding, Level II pricing, no order restrictions, multiple order types, detachable charts, real-time reports, and one-click trading.
- It is powered byservers in the LD5 IBX Equinix Data Center.
- cTraderis available ontheWeb, iPhone/iPad, iMac, Android, and automated platforms, providing a seamless trading experience across multiple devices.
cTrader copy trading
- Copy Traderoffersautomated trading strategiesbased on top performers,withcomplete transparency, control, and intelligent risk management.
- It providesanalytics, insights, full broker service, comprehensive strategy profiles, and multiple platform support.
- Thesocial media platformallows fortrading community interactionandflexible fees. Investorscan haveseparate trading accountsfor added security.
Trading View
- IC Markets global TradingViewoffersreal-time quotes, low spreads, micro lot trading, no order restrictions, expanded symbol display, and one-click trading. This allows forefficient and flexible trading.
- IC Markets Global TradingViewoffers best-in-class chartswith 15+ chart types, 110+ drawing tools, and extensive customization.
- It provides400+ pre-built technical indicatorsandthousands of custom-built ones, along withunmissable alertsfortrading opportunities.
- This platform is designed forefficient technical analysis and timely trading.
- It is available in both the desktop and mobile apps.
IC Markets account types
IC Markets broker review offers three main account types. Each account type has unique features tailored to different trading styles. They are given below.
- Standard account
- Raw spread account
- cTrader account
IC Markets forex broker recommends a starting deposit of $200 for a smoother trading experience. The various features of the three account types are given in the tabular column.
| Features/Account types | cTrader (Raw spread) | Raw spread | Standard |
|---|---|---|---|
| Platform | cTrader, TradingView | MetaTrader | MetaTrader |
| Commission | $3.0 (USD 6.0 100k) | $3.5 ($7.0 per lot) | $0.00 |
| Spreads from (pips) | 0.0 | 0.0 | 0.8 |
| IC Markets minimum deposit (USD) | $200 | $200 | $200 |
| Leverage | 1:1000 | 1:1000 | 1:1000 |
| Maximum number of position orders per account | 2000 | 200 | 200 |
| Server location | London | New York | New York |
| Micro lot trading (0.01) | Yes | Yes | Yes |
| Currency pairs | 61 | 61 | 61 |
| Index CFD trading | Yes | Yes | Yes |
| Stop out level | 50% | 50% | 50% |
| One-click trading | Yes | Yes | Yes |
| Islamic accounts | Yes | Yes | Yes |
| Trading styles allowed | All | All | All |
| Order distance restriction | None | None | None |
| Programming language | C# | MQL4 | MQL4 |
| Suitable for | Day traders and scalpers | EAs and scalpers | Discretionary traders |
Islamic swap-free account
- IC Markets broker offers swap-free accounts for clients who follow Islamic law and cannot earn or pay interest.
- These accounts have no swap or interest charges but incur aflat rate holding fee for overnight positions.
- Commissions and spreads remain the same as raw spread and standard accounts.
- This option is available on MetaTrader 4, MetaTrader 5, and cTrader platforms.
Demo account
IC Markets global demo trading account is free to open and supports all account types,platforms, and products, allowing you to experience their trading environment without risking real money.
IC Markets deposit and withdrawal methods
Deposit methods of IC Markets
IC Markets forex review offers a variety of deposit methods to cater to the needs of its diverse traders. The various deposit methods and their processing time are given below.
| Funding options | Accepted currencies | Approximate processing time |
|---|---|---|
| Credit and Debit cards | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD | Instant |
| PayPal | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHF | Instant |
| Neteller | USD, AUD, GBP, EUR, CAD, SGD, JPY | Instant |
| Neteller VIP | AUD, GBP, EUR, CAD, SGD, JPY | Instant |
| Skrill | AUD, USD, JPY, EUR, SGD, GBP | Instant |
| UnionPay | RMB | Instant |
| Wire transfer | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, CHF | 2-5 business days |
| B pay | AUD | 12-48 hours |
| Broker to Broker | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, CHF, HKD | 2-5 business days |
| POLI | AUD | Instant |
| Thai Internet Banking | USD | 15-30 minutes |
| Rapid pay | EUR, GBP | Up to 2 business days |
| Klarna | EUR, GBP | Up to 2 business days |
| Vietnamese internet banking | USD | Instant |
IC Markets withdrawal review policies
Withdrawal time
IC Markets Global has a withdrawal cut-off time of 12:00 AEST/AEDT. Withdrawals are typically processed on the same day if submitted before the cut-off and the next business day if submitted after.
Fees
- IC Markets Global does not charge fees, but bank charges may apply.
- A processing fee may apply if deposits haven’t been used for trading.
IC Markets withdrawal methods and their processing time
- International wire transfers: Up to 14 days with additional fees.
- Credit/Debit card withdrawals: Free of charge, processing time 3-5 business days (may take up to 10 days in some cases). Not available for all countries.
- PayPal, Neteller, and Skrill withdrawals: Must be made from the same account used for deposit, free of charge and instant.
- Web money: Withdraw via Processed by Ingenico e Payments, no refunds, bank transfer only 3-5 business days.
- Fasapay: Withdraw via Bank wire transfer in 3-5 business days.
- Poli / B pay: Withdraw via Bank wire transfer takes up to 2-3 business days domestic.
- Rapid pay, Klarna: Withdraw via Bank wire transfer takes up to 3-5 business days.
Please note that all bank wire transfers may incur additional charges. IC Markets Global does not process payments to third parties. There is no IC Markets minimum withdrawal. You can withdraw a small amount as you prefer. IC Market’s withdrawal limit is 0.
Fees and commissions of IC Markets
IC Markets offers a variety of account types, each with its fee structure.
Commission for account types
- Standard: $0.00 per lot
- Raw spread: $3.50 per lot per side
- cTrader (raw spread): $3.00 per lot (per USD 100k)
- TradingView:$3.00 per 100,000 USD traded
MetaTrader 4 raw spread commission charges
| Account base currency | Micro lot commission (0.01 lot) | Standard lot commission (1 lot) |
|---|---|---|
| AUD | AUD 0.045 (AUD 0.09 round turn) | AUD 4.50 (AUD 9.00 round turn) |
| USD | USD 0.035 (USD 0.07 round turn) | USD 3.50 (USD 7.00 round turn) |
| EUR | EUR 0.0325 (EUR 0.07 round turn) | EUR 3.25 (EUR 6.50 round turn) |
| GBP | GBP 0.0275 (GBP 0.06 round turn) | GBP 2.75 (GBP 5.50 round turn) |
| SGD | SGD 0.0475 (SGD 0.10 round turn) | SGD 4.75 (SGD 9.50 round turn) |
| JPY | JPY 5.50 (JPY 11.00 round turn) | JPY 550.00 (JPY 1100.00 round turn) |
| CHF | CHF 0.033 (CHF 0.07 round turn) | CHF 3.30 (CHF 6.60 round turn) |
| NZD | NZD 6.00 (NZD 0.12 round turn) | NZD 6.00 (NZD 12.00 round turn) |
| CAD | CAD 0.0475 (CAD 0.10 round turn) | CAD 4.75 (CAD 9.50 round turn) |
| HKD | HKD 0.27125 (HKD 0.54 round turn) | HKD 27.125 (HKD 54.25 round turn) |
Spreads
- Spreads: Starts from 0.0 pips (Raw spread and cTrader account)
- Standard account: 0.8 pips
IC Markets fees
- Deposit fee: No
- IC Markets withdrawal fees: No (Bank fees may apply)
- Swap-free charges: 0.01 to 80 charges US$ per lot (Varies by instruments)
Educational tools
IC Markets Global offers educational resources to help traders learn and improve their skills. These include videos, webinars, tools, and information on various trading topics. These tools include Web TV, webinars, podcasts, tutorial videos, trading tools, trading servers, a help center, a blog, forex calculators, an economic calendar, and resources on trading the US election.
These educational resources provide valuable insights into the advantages of forex and CFDtrading, as well as practical guidance on getting started, using trading tools, and understanding the complexities of the financial markets. By taking advantage of these resources, traders can enhance their trading strategies and make informed decisions.
Customer support
Need help with your trading experience? IC Markets Global offers a dedicated customer support team available 24/7 to assist you.
| Contact methods | Details |
|---|---|
| Live chat | Click live chat for instant assistance. |
| Phone | General inquiries: +248 467 19 76 (International charges may apply)Thailand: +661800011956Indonesia: +6280332160329Colombia: +5718005190364Vietnam: +8412032513South Africa: +27800172944 |
| Client relations: clientrelations@icmarkets.comSupport: support@icmarkets.comAccounts: accounts@icmarkets.comMarketing: marketing@icmarkets.com |
Conclusion
IC Markets is a versatile trading platform offering a wide range of instruments, flexible account types, and educational resources. Regulated by the FSA, ASIC, and CySEC, it provides a secure trading environment.
While international wire transfers may incur higher fees, IC Markets remains a strong contender for traders seeking a comprehensive platform with diverse features. However, careful consideration of the regulatory environment and withdrawal costs is essential before making a decision.
Pro Tip
Before starting to trade, ensure you understand the risks involved and only invest capital you can afford to lose. Start your forex trading journey with our trusted forex broker and learn about other investment options like CFDs, crypto, and banking. Drop your comments below.
