IC Markets Review (Update 2021)

IC Markets

• ASIC and CySec Regulated Broker
• Trusted ECN Forex Broker
• Mt4 & MT5 Trading Platform

73% of retail investor accounts lose money

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Details

Broker	IC Markets
Website URL	icmarkets.com
Founded	2007
Headquarters	Australia
Trading Platform	MT4 - MT5 - cTrader
Minimum 1st Deposit	200$
Bonus	73% of retail investor accounts lose money
Leverage	Up to 1:30
Free Demo Account
Regulated
Regulation	CySec, ASIC, FSA (Seychelles)
Account Types	Raw Spread C Trader, Raw Spread, Standard, Islamic
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score	78

Is IC Markets a reliable trading Broker?

Is IC Markets a scam?

Read here our IC Markets Review and decide if this broker fits your needs.

IC Markets is an online trading brokerage company headquartered in Sydney, Australia. The brokerage company was established in 2007 and is registered with the 3 Major Regulation Authotities.

Are UK Clients accepted in IC Markets?

Athough IC Markets does not hold an FCA License (typically it is not regarded as UK Forex Broker), it accepts UK Residents.

Trading Platform

IC Markets offers the following three robust trading platforms to its traders:

1- MetaTrader 4
2- Meta Trader 5
3- cTrader

The platform can be accessed on PC (Web, macOS, and Windows), mobile (iOS and android), and tablet. Along with the advanced trading platforms, IC Markets provide state-of-the-art tools such as virtual private network, trading servers, MT4 advanced trading tools, and MAM/ PAMM.

Let’s discuss the important features of the trading platforms:

1- MetaTrader 4

The award-winning MetaTrader is the most advanced and popular trading platform for forex traders because of its excellent trading features, user-friendly interface, and automated trading capability. The platform uses metaquotes language 4 (MQL 4) for development of the trading strategies on the MT4 platform.

With MetaTrader 4 platform, traders can execute trades instantly, or they can choose to enter the market, pending, stop orders, or a trailing stop. Traders can place their trades with a single click while viewing charts. Traders can easily determine the entry and exit points of their trades using the tick chart feature in MT4 platform.

The platform has all the essential features that forex traders need to execute their strategies profitably in the forex market.

With MT4, traders can view each security on 9 time frames, which allows traders to analyze the price action in detail to place an informed trade. The platform provides more than 30 technical indicators with 24 graphical objects for interpreting the price charts and important price levels comprehensively. Traders have the option to plot the price action on Bar charts, Japanese candlestick charts, and broken line charts.

MT4 gives traders access to the latest financial news so that traders get the latest news and information and make trades accordingly. Many traders use algorithmic trading using trading robots to automate their trading strategies.

2- MetaTrader 5

MetaTrader 5 is a multi asset trading platform that traders can access from their personal computers, smartphones, and tablets. The platform runs on all operating systems, so traders can access the platform easily without any hassle. MetaTrader 5 allows trading forex, futures, stocks, and exchange instruments.

MetaTrader 5 is an advanced version of MetaTrader 4 and has numerous features that are better than its predecessor. MetaTrader 5 has 21 timeframes, which allows for more in-depth analysis of the price action. Traders can place 6 different types of pending orders and can use 38 technical indicators with the depth of market capability that allows traders to see the bids and offers along with volume. The platform also has a built-in economic calendar that traders can use to determine the upcoming important events and adapt their trading strategies accordingly. Unlike MetaTrader 4, MetaTrader 5 provides partial order filling capability as well.

3- cTrader

cTrader is another advanced trading platform that clients of IC Markets can utilize for their trading. Traders can trade up to 64 currency pairs and 16 equity indices using the cTrader trading platform. The platform supports placing limit orders and stop orders and also allows quick trade feature where traders can initiate trade with a single click.

The platform shows level 2 quotes to the traders, which provides traders with precious order flow data. The platform has an Advanced Take Profit option that lets traders gradually take some of the profits from profitable trades.

The Server Trailing Stops follow the profitable position of a trade and allow traders to get maximum benefit of the profitable trade. cTrader is also available across all devices and operating systems for traders.

Trading Instruments

With IC Markets, traders can gain access to trading a range of markets including forex, commodities, indices, bonds, digital currencies, stocks, and futures. Traders can trade forex CFDs 24/5 in 60 different currency pairs. IC Markets have 23 CFDs Indices available for trading without any commission charges. Commodities CFDs of over 19 commodities are also available for trading with a leverage. With the stock CFDs, traders can get access to trading 120+ stocks from NYSE, Nasdaq, and ASX, etc.

CFDs of bonds, cryptocurrencies, and futures are available for trading.

Leverage

Leverage levels vary depending the Trader’s Resendency

1. Max Leverage Levels for EU Based Traders are much lower due to MiFid II Leverage Restrictions
2. Max Leverage Levels for crypto CFD Trading is 1:5. If you want more leverage, you better check our guide How to trade the bitcoin with High Leverage

Account Types, Minimum Deposit & Fees

IC Markets offers the following four types of accounts:

1- Standard Account
2- Raw Spread Account
3- cTrader Raw Spread Account
4- Islamic Account

1- Standard Account

IC Markets offers MetaTrader access to the standard account holders. No commissions are charged to traders, with spreads starting from 1.0 pip. The initial balance requirement for opening the Standard account is $200. IC Market provides leverage of 500:1 on the Standard account. The company allows trades in 64 forex pairs with a stop out level set at 50% .The Standard account is suitable for discretionary traders.

2- Raw Spread Account

IC Markets bundles the Raw Spread account with MetaTrader platform and charges $3.5 commission per lot, with zero pip spread. The minimum balance requirement for opening the Raw Spread account is $200. The company allows trading in index CFD trading, 64 currency pairs, with the option of buying a micro lot. The leverage provided by the company is 500:1. The account is most suitable for expert advisors and scalpers.

3- cTrader Raw Spread Account

IC Markets provides the cTrader Raw Spread account with cTrader platform. IC Markets charges $3 per lot commission on cTrader account while it charges no spreads. The initial balance requirement for opening the trading account is $200. With cTrader Raw Spread account, traders can get leverage of 500:1, along with the ability to trade 64 currency pairs. Traders can also trade micro lots as well as index CFDs. This type of account is suitable for day traders and scalpers.

4- Islamic Account

The Islamic trading account are for muslim clients who do not want to earn or pay interest. The Islamic account is a swap-free account, which means that the Islamic account holders will not be charged interest charges on their overnight positions.

Deposit Methods & Currencies

Traders can fund their accounts using 15 different methods and 10 different currencies.

Traders can use Visa or Mastercard credit cards, PayPal, Neteller, Neteller VIP, Skrill, UnionPay, wire transfer, Bpay, FasaPay, Broker to Broker, POLI, Thai Internet Banking, Rapidpay, Klarna, Vietnamese Internet Banking.

The accepted currencies are AUD, USD, SGD, JPY, NZD, EUR, CAD, GBP, HKD, and CHF.

Conclusion

IC Markets is one of the best brokers in Australia because of its excellent trading services.

The brokers low commissions and the advanced trading platforms are some of the distinguishing points of IC Markets.