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IC Markets Broker Review 2024

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IC Markets Broker Review 2024
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Investing and trading in financial markets such as the stock exchange, forex, digital currencies in the form of spot or with leverage face a high inherent risk. According to the statistics of all exchanges and brokers, more than 75% of people lose!

Overview
Company:IC Markets Global
Founded:Australia
Min Deposit:200
Max Leverage:500
Headquarter:Australia
US Accepted:
About
IC Markets is a Forex broker established in 2007 in Australia. It's regulated by 3 authorities, including FSA, CySEC, and ASIC. This broker offers trading services on various markets and instruments, such as Forex, crypto, bonds, etc.
Contact
Eden Plaza, Office 222, Eden Island, Mahe, Seychelles
Rank and Score
Pros and Cons
Account Types
Platforms
Pros
Competitive pricing with low average spreads
Extensive market offering (2,200+ tradable symbols)
Scalable execution for algorithmic traders
Wide range of trading platforms
Cons
Offers limited leverage in Europe and offices regulated by ASIC and CySEC
Minimum deposit could be high for some traders
IC Markets
A comprehensive review on IC Markets broker

IC Markets is a forex broker with low latency connectivity, offering accounts with 0 spreads. This broker's headquarters is located in Sydney, Australia, but it has offices in more countries such as Cyprus, Seychelles, etc. IC Markets focuses mostly on CFDs, so traders who are looking for them should seriously consider this broker. In this review, we will discuss the details and aspects of the broker in more depth.

IC Markets forex broker [Company Information + Regulation]

IC Markets' parent company was established in 2007 in Australia, but since 2018, it has obtained the required licenses for providing its services to traders from Europe. The company is authorized and regulated by the Financial Services Authority (FSA) of Seychelles, Cyprus Securities and Exchange Commission (CySEC), and Australian Securities and Investments Commission (ASIC), ensuring a safe and flexible trading environment for its clients.

Key points about IC Markets' regulation and company information:

  • Undergoes external audits for operational and accounting processes
  • Segregates client funds in top-tier banking institutions
  • Implements anti-money laundering policies and procedures

Table of Summary

IC Markets stands out as a reputable online forex and CFD broker, offering competitive pricing, low spreads, and fast execution. Here's a quick overview of what makes this broker unique:

Broker

IC Markets

Account Types

Standard, Raw Spread, Islamic

Regulating Authorities

FSA, CySEC, ASIC

Based Currencies

USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, CAD

Minimum Deposit

$200

Deposit Methods

Bank Cards, Wire Transfer, Electronic payments

Withdrawal Methods

Bank Cards, Wire Transfer, Electronic payments

Minimum Order

0.01 lot

Maximum Leverage

1:500

Investment Options

Passive Income, Partnership

Trading Platforms & Apps

Metatrader 4, Metatrader 5, cTrader, cTrader Web, IC Markets Mobile

Markets

Forex  CFDs, Index CFDs, Bond CFDs, Crypto CFDs, Stocks CFDs, Commodity CFDs

Spread

From 0 pips

Commission

Average $1.5

Orders Execution

Market

Margin Call/Stop Out

50%/100%

Trading Features

Scalping, Expert advisors

Affiliate Program

Yes

Bonus & Promotions

Yes

Islamic Account

yes

PAMM Account

No

Customer Support Ways

Phone, chat, email, social media

Customer Support Hours

24/7 for live chat

Account Types

IC Markets offers three main account types to cater to different trading styles and preferences. We will discuss each type's main features to help you choose one:

  • Standard Account: No commissions, spreads from 0.8 pips, fast order execution, $200 minimum deposit, leverage up to 1:500
  • Raw Spread Account (MetaTrader 4/5): No spreads, commission of $3.5 per lot per side, ideal for active traders, scalpers, and EA users
  • cTrader Raw Spread Account: No spreads, commission of $3 per lot side, leverage up to 1:500, tailored for day traders and scalpers

IC Markets Forex Broker Pros & Cons

Let's examine the advantages and disadvantages of trading with IC Markets:

Advantages

Disadvantages

Competitive pricing with low average spreads

Offers limited leverage in Europe and offices regulated by ASIC and CySEC

Wide range of trading platforms

Minimum deposit could be high for some traders

Scalable execution for algorithmic traders

Extensive market offering (2,200+ tradable symbols)

Despite some limitations, IC Markets remains an excellent choice for algorithmic and high-frequency traders due to its low costs, fast execution, and advanced platform offerings.

How to Open and verify an account

Opening and verifying an account with IC Markets is a straightforward process:

  1. Visit the IC Markets website and click on "Client login." Then, click on "open an account".
IC Markets
Enter your name, email, phone number and choose country
  1. Complete the name and email application form.
  2. Fill the necessary details about your identity.
  3. Choose your trading platform and account type.
  4. Review your information.

For account verification, you will need to provide a proof of address or a proof of identity.

What Platforms and Applications does IC Markets offer?

The broker provides a range of trading platforms to suit different trading styles and preferences among users:

  • MetaTrader 4 (MT4) and MetaTrader 5 (MT5): Raw Spread accounts available, institutional-grade pricing, spreads from 0.0 pips
  • cTrader: Order execution with 1 click, user-friendly interface, advanced charting and analysis tools
  • Mobile trading apps: Available for iOS and Android devices, Provides monitoring markets and execute trades on the go

Commissions and Spreads Overview

IC Markets is known for its attractive pricing policies. However, commissions, fees and spreads in a broker could change depending on the conditions.

  • Average: EUR/USD spread: 0.1 pips
  • Raw Spread account: Spreads from 0.0 pips
  • Standard account: Spreads from 0.8 pips
  • Commission on cTrader: $3 per 100,000 USD traded
  • Commission on MetaTrader 4: $3.50 per lot traded

Deposit and Withdrawal Options

IC Markets provides a vast range of deposit and withdrawal options:

  • Bank cards
  • Wire transfer
  • Electronic payment platforms

The broker does not charge additional fees for deposits or withdrawals, but clients should be aware of potential fees from their banking institutions.

Bank Cards

The broker accepts bank card deposits in multiple currencies, including AUD, USD, JPY, EUR, GBP, CAD, SGD, and CHF. The process is instant and free, with funds held in segregated trust accounts at top-tier international banks.

Wire Transfer

Wire transfers are available for both deposits and withdrawals. International transfers may take up to 2-5 business days and may incur additional fees from intermediary or beneficiary banks.

Electronic Payment platforms

IC Markets supports various payment platforms, including e-wallets like PayPal, Neteller, Skrill, and Internet Banking. These options provide quick and secure transactions, with most payments processed instantly.

Copy Trade and Investment Options

This broker offers unique copy trading opportunities through Spotware's cTrader platform. Key features include:

  • Automation of high-performance trading strategies
  • Complete transparency and control
  • Intelligent risk management tools
  • Advanced analysis and insights
  • Comprehensive strategy profiles
  • Multiple platform options (web/desktop/mobile)
  • Social trading platform.

Tradable markets and Symbols

IC Markets tradable markets
Tradable markets and symbols available on IC Markets broker

The broker provides access to a wide range of global markets:

  • Popular indices: Australian S&P 200, UK FTSE 100, US E-mini S&P 500, US DJIA Index
  • Forex CFDs: over 60 currency pairs
  • Commodities CFDs: more than 25 commodities
  • Stocks CFDs: Over 2100 stocks
  • Bonds CFDs: 9 bonds available for trading
  • Crypto CFDs: more than 10 cryptocurrencies

Bonus and promotions

IC Markets Global offers several promotional bonuses for new clients in select Southeast Asian countries:

  • Welcome Bonus: New clients from Malaysia, Thailand, Vietnam, Indonesia, Singapore, Philippines, and Laos can receive a $30 bonus for opening an account with a minimum $200 deposit and completing 10 qualifying trades.
  • Limited Time 10% Deposit Bonus: New clients from the same countries can receive up to $200 bonus (10% of their deposit) for deposits between $200 and $2,000.
  • Exclusive Redeemable Bonus: New clients can receive bonuses of $25 or $150 for deposits between $200 and $2,000 (or more) and completing specified qualifying trades.

However, these bonuses have expired and they are currently unavailable.

Support and customer services

IC Markets Support
Support section on the "IC Markets" official website

IC Markets prides itself on providing excellent customer support:

  • 24/7 customer service
  • Multiple contact channels: live chat, phone, and email
  • Toll-free numbers for several countries, including Australia, UK, Thailand, Indonesia, Germany, Spain, Brazil, Malaysia, South Africa, and Poland
  • Dedicated departments for Client Relations, Support, Accounts, and Marketing
  • Office locations in Seychelles, Cyprus, and Australia to serve global clients

Banned Countries

IC Markets banned countries
An overview of the banned countries from IC Markets services

Unfortunately, the mentioned broker does not offer its services to all regions in the world. In some countries, it is restricted or banned and the residents cannot register or verify their accounts in them. These countries might be some of those restricted form IC Markets' services:

  • US
  • Israel
  • Korea
  • New Zealand
  • Abkhazia
  • Iraq
  • Iran
  • Yemen
  • Congo
  • Central African Republic
  • Afghanistan
  • Cuba
  • Libya
  • Somalia
  • Sudan

Office Addresses

IC Markets maintains a strong online presence to serve its global clientele. The broker's main offices addresses:

  • Main office address: Eden Plaza, Office 222, Eden Island, Mahe, Seychelles
  • Cyprus office address: 86 Franklinou Roosvelt, 4th floor, Office 401, 3011 Omonoia, Limassol, Cyprus

Trust Scores

IC Markets is one of the most reputable and trusted forex brokers, and it has achieved a high place in a famous review website. Some of the scores:

IC Markets score on trustpilot
Users have given an excellent score to IC Markets on Trustpilot
  • Trustpilot User Score: 4.8 out of 5
  • io Score: 2.6 out of 5

People have mentioned the good service on the live chat, great support and excellent overall experience as the broker's strengthes.

Education Content and Tools

IC Markets offers a comprehensive education section on its website, designed to support traders of all levels:

  • Overview of the forex market
  • Advantages of forex and CFD trading
  • Video tutorials
  • Getting started guides
  • Technical and fundamental analysis resources
  • Insights into factors influencing currency movements

The education materials cover over 200 trading markets, explaining the advantages of forex and CFD trading, such as market transparency and fair price discovery. Video tutorials guide traders on effectively using the trading platforms.

TF expert suggestions

IC Markets is a forex and CFD broker headquartered in Australia. The company holds offices in Adelaide and Perth there, employing over 50 staff in the country. You can trade with zero spread in broker and enjoy international grade liquidity in trading. Also, you can use the "Economic Calendar" and "Forex Glossary" offered in IC markets broker's website. This company has mentioned "Reliability", "Flexibility", and "Transparency" among other things as its core values.

FAQs
Is IC Markets a regulated broker?

Yes, IC Markets is regulated by several authorities, including ASIC and CySEC.

What is the minimum deposit for IC Markets?

The minimum deposit varies by account type but typically starts at $200.

Does IC Markets offer a demo account?

Yes, IC Markets provides a free demo account for traders to practice.

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