IC Markets Forex Broker Review – General Overview
IC Markets or International Capital Markets is one of the fastest growing brokerage firms in the Forex industry at the present time. It is one of the top ECN Forex brokers with headquarters based at Sydney in Australia. This merchant came into limelight when it started offering spreads at 0.0 pips on the major currency pairs in the financial market. It is one of those merchants that do not impose any type of trading restrictions and offers features like EA Robot Trading, Hedging, Scalping and News Trading. The high volume, as well as high frequency trading, is available for both institutional as well as retail traders. The broker runs a Direct Market Access (DMA) model that allows its customers to trade at a very low spread.
Apart from having its headquarters at Australia, IC Markets has representative offices all across the globe. It has two branch offices in Vietnam and China and has a large group of potential clients in the Asian subcontinent. In the year 2014, the broker was listed as one of the top 10 Forex brokers by “Forex Magnets“ with a net worth of more than $55 Billion. This brokerage team has a team of highly skilled professionals (100) and it is run and managed by its CEO cum founder named Andrew Budzinski. This merchant is the home to one of the best brokers in the industry with access to more than 70 different currency pairs, Metals and CFD on MT4 as well as mobile trading platform.
- Since: October-2007
- Headquarters: Sydney, Australia
- Regulation: ASIC, FCA, and CySec
- Spreads: Starting from 0.0 pip
- Minimum Deposit: $200
- Trading Model: 100% ECN
- Account Types: Standard, cTrader, and True ECN
- Assets: CFD, Metals, and 77 Currencies
- Maximum Leverage: 500:1
- Trading Tools: FIX API, MYFXBook, VPS and EA Support
- Minimum Trade Amount: $1
- Minimum Lot Size: 1000
- Currencies: USD, AUD, CAD, EUR, GBP, CHF etc
- Trading Platform: Metatrader4, CTrader, and Mobile Trading
- Payment Methods: Debit/Credit Card, Skrill, Wire Transfer, MasterCard
- Languages: English, French, German, Spanish, Italian, Russian etc
IC Markets Trading Platform
The broker offers Metatrader4 as well as Metatrader5 as trade platform for live trade in FX market. In addition to the above, it offers CTrader platform as well. It is to be noted that the platform for trade is available in true ECN environment which is perfect for scalpers or anyone who is looking forward to automated trading. The online Forex agent is known for providing unrivalled trade execution and high-speed connectivity while placing trade across various assets. It offers tight spreads which make IC Markets one of the most favoured brokers by clients and customers all across the world. There is also a demo account for practising the features. The IC Markets trading platform can be downloaded easily and does not require any further add-on to be installed on one’s browser. It also offers mobile trading for both Android as well as iPhone users.
The online web platform offered by the merchant is very easy to use and it has been designed keeping the inexperienced traders in mind. It comes with the greatest features and a highly intuitive interface. All one needs is a PC and decent internet connection to start placing a trade in the Forex market. Money Managers can take benefit of the PAMM account which will connect people directly to the MetaTrader4 platform. With the help from expert advisors through PAMM software, one can manage multiple accounts with ease. Other prominent features of the trading platform include managing client reports, unique order type identification and choosing from 3 different allocation methods namely lot, proportional and percentage.
How to Download a Demo Account
ICMarkets Account Types
|Commissions||$0.0 Commission||$3.50 Per Lot||$3.00 per USD $100K|
|Spreads||From 1.0 pip||From 0.0 Pip||From -0.3 Pip|
|Server Location||New York||New York||London|
|Micro Lot Trading||Yes||Yes||Yes|
|Index CFD Trading||Yes||Yes||No|
|One Click Trading||Yes||Yes||Yes|
|CNS VPS Cross Connect||Yes||Yes||No|
|Trading Style Allowed||All||All||All|
|Order Distance Restriction||None||None||None|
|Suitable For||Discretionary Traders||EAs and Scalpers||Day Traders & Scalpers|
It is one of those brokers who offer myriad assets across different categories to its traders. One never feels limited because it gives exposure to one of the best financial instruments in the industry. You can trade across 60 different currency pairs with 17 different indices and futures contracts including Dow Jones Index and FTSE 100. The broker is very committed and has been adding numerous financial instruments under its assets index from time to time so as to keep its traders updated. With leverage as high as 1:500, one can suit to their trading style and make the best out of their automated or manual trading strategies.
Deposits and Withdrawals
As a trader, you can access one of the best payment services offered by this broker. For deposits and withdrawals, you can opt for delivery channels like credit/debit cards, MasterCard, international bank wire transfer, EWallet, local bank transfer (only in selected countries outside Australia) and branch cash deposits. It is important to note that the same payment method should be used for depositing as well as the withdrawal of funds. Withdrawal requests made before 3:00 GMT will be processed on that same day itself.
The minimum amount required to be deposited in one’s trading account is $200. The good thing about the broker is that there are no maximum or minimum withdrawal limits. However, one would have to undergo full credit card verification so as to complete the withdrawal procedure. On the whole, an online transaction is easy and secure and every trader will be provided with login details on the dashboard of the broker.
- Lowest spreads starting from 0.0 pips
- No commission on withdrawal
- Supports Standard as well as ECNA account
- Hedging is available without Margin
- 5 digit price feed for accuracy and precision
- Margin call level of 100%, 150% stop out level
- Segregated account at National Australian Bank
- Swap-free account is not available
- No trading restrictions
Bonus and Special Promotions
The broker offers “Free FX Seminars” for all the existing traders who register for the first time. The free Forex seminars can be claimed immediately after opening a trade account. In addition to the above, the broker offers several commissions and other special promotions through its affiliate networks and referral programs. One should constantly visit the official website of IC Markets to know more about the bonus and other special deals.
With FX trading getting popular with every passing day, the demand of dealing desks and brokerage firms are on the rise. Thus, a question looms – Which is the best broker to trade with? In most of the cases, people are inexperienced and blindly follow brokers as suggested by their friends or family members. However, IC Markets is a perfectly legitimate broker that offers to give great returns on investment. Mentioned below are some of the testimonials from true customers who have had traded with the broker previously. You can read their testimonials to get a feedback whether you should opt this broker or not.
“I opened an account with IC Markets because they had an office in my country just a few miles away from my home. So I always believed in the overall integrity of the broker, not any other merchant who would run away with my money. The trading platform is good and I happened to make some good money with them. I am really looking forward to my future investments in Forex market with this broker.” Jane, Vietnam
“I have been trading with them for the past 2 years or so and I am completely satisfied with their overall service. Since it is the biggest Forex broker in my country, I somewhat feel secured. I like its tight spreads and multiple account types. It is indeed a very reliable broker and I would really recommend this broker to both skilled as well as novice users.” Kathryn, Australia
“What I really liked about IC Markets was its astonishing withdrawal requests. It took me 3 days to withdraw the money and I was really impressed. I have dealt with brokers in the past but none of them offers such blazing fast payment service. I also liked its trading tool and its educational centre which is filled with video tutorials and journals on sharpening one’s trading skills.” Blomkvist, Russia
- Broker is regulated by Australia-based ASIC
- It is externally audited
- Professional indemnity insurance available
- It is the member of external dispute resolution scheme – FOS
- World’s only true ECN Forex broker
- Client segregated account is available with bank in Australia
- Does not accept traders from the United States of America
- Video chat is not available
The overall customer service is quite satisfactory and traders have a great time interacting with the representatives at IC Markets. One can contact the professionals through alternate delivery channels like for instance email program, Skype and telephone calling. Response time is less than 15 minutes which is really amazing. One can expect to get their queries resolved in less than 24 hours. Customer support is available in 7 different languages and the broker is available 24 hours all 5 days a week. It has a user-friendly website with the interactive interface and great navigation feature.
The broker has a dedicated FAQ section where one can find answers to common questions related to Forex trading. In addition to the above, the merchant is very committed to honing the skills of individual trader. For this very reason, it has a dedicated educational support centre through which it offers video journals and other articles on Forex trade. At the same time, it offers a demo account with a validity of 30 days to get oneself acquainted with the platform and refine one’s trading skills. The staff members at IC Markets are really very co-operative and always one step away for any guidance or help. They possess great knowledge and have years of experience in this financial industry.
It is one of those brokers that have completely revolutionised the entire Forex industry with its sheer service and state of the art features. Its traders have access to liquidity and pricing which was previously available to high worth individuals and investment bankers. You will get what you expect from any top 10 Forex brokers. It is a true ECN merchant that offers high-speed trade execution and as a trader, you will have direct access to tight spreads, greater liquidity, and satisfactory customer service. Trading with this broker will allow you to invest money in financial instruments without any kind of trading restrictions and without dealing desks.
With average spreads starting from 0.1 pips, it offers the best market investment and great returns. Commissions per trade can be as low as $5.5 per lot. Moreover, it just requires $200 to open a trading account, an amount which is considered nominal which can be easily afforded by people without burning a hole in one’s pocket. With myriad currencies, people from any corner of the world except the USA can open a trading account with IC Markets. Since it is regulated by ASIC, there is no need to worry or consider it a scam institute. It is perfectly legal and its huge list of traders can vouch for its credentials and genuineness. So what more you can ask for? After reading this IC Markets review, decide yourself and start experiencing a new world of the online trade!