Picking a dependable financial broker is crucial, whether you’re a seasoned trader or just starting out. The experts at Traders Union understood this need and put together IC Markets broker review to help traders make an informed choice.

IC Markets made it to the list of the top twenty brokers, scoring an impressive 9.01 points. In creating this review, the Traders Union team relied on their special method, which took into account more than 100 different factors. This method ensures a thorough and clear evaluation, helping traders understand the broker’s offerings and reliability. So, if you’re on the lookout for a trustworthy company, this review is a handy resource to guide your decision.

Is IC Markets legal or not?

Selecting a broker like IC Markets means you’re choosing a company that follows the guidelines of several official regulators worldwide. These regulators check to ensure businesses operate fairly and safely. Let’s break down these regulators and see how IC Markets connects to them.

SFSA (Seychelles Financial Services Authority)

• Location: Seychelles.
• Role: SFSA watches over non-bank financial services in Seychelles. They make sure businesses operate correctly and in line with international standards.
• IC Markets’ link: IC Markets has a license from SFSA, ensuring they operate transparently and fairly in Seychelles.

ASIC (Australian Securities and Investments Commission)

• Location: Australia.
• Role: ASIC is the main body overseeing financial operations in Australia. They ensure businesses follow strict rules for safety.
• IC Markets’ link: IC Markets originated in Australia, so they must stick to ASIC’s rules. Holding an ASIC license means IC Markets is recognized as a reliable business, both locally and internationally.

CySEC (Cyprus Securities and Exchange Commission)

• Location: Cyprus.
• Role: In Europe, especially Cyprus, CySEC is the go-to authority that ensures financial businesses operate correctly. They want transparency and good customer treatment.
• IC Markets’ link: With a CySEC license, IC Markets shows its commitment to maintaining high standards in Europe, assuring customers of its trustworthiness.

Commercial offers of IC Markets broker

IC Markets is a well-respected company known for its reliable and honest services. It’s become a favorite among traders, and here’s a look at why:

1. Quality Service: IC Markets has made a name for itself with its top-notch service quality. Traders appreciate its dedication to making trading smooth and straightforward.
2. Low Costs: One of the biggest draws for traders is the low spreads. Raw Spread and cTrader accounts even offer spreads starting from zero, while the Standard account provides spreads from just 0.6 points for the EURUSD pair.
3. Small Starting Capital: You can start trading with IC Markets with as little as $200, making it accessible for both new and experienced traders.
4. Multiple Account Currencies: Whether it’s USD, EUR, GBP, or any of the other options, traders have a broad choice of account currencies.
5. Vast Asset Range: With over 2,100 assets, including currency pairs, CFDs, cryptocurrencies, and stocks, traders have a world of opportunities at their fingertips.
6. Training Tools: For newcomers or those looking to refine their strategies, IC Markets offers free training tools and a risk-free demo account to practice.
7. Swap-Free Trading: Catering to its diverse clientele, IC Markets provides an Islamic account option for those who need swap-free trading.
8. High-Quality Service: Consistent and high-quality service ensures that traders always have the support they need.
9. Trade How You Want: IC Markets doesn’t restrict your trading style, allowing flexibility for traders.
10. Social Platform & Affiliate Program: Beyond regular trading, IC Markets provides automatic trading on a social platform. Plus, there’s an affiliate program for those looking at passive income opportunities.
11. Top Liquidity Providers: With providers like Westpac and NAB, traders can be assured of the broker’s credibility.
12. Fast Execution: IC Markets prides itself on its market execution, ensuring traders get the best prices.
13. VPS Offer: If you’re trading large volumes (from 15 lots), they offer a free VPS, ensuring smoother trading.
14. Mobile App: For those on the move, IC Markets has a mobile app ensuring that trading is just a tap away.

Traders Union prepared IC Markets broker review, it not only covers trading conditions in detail but also provides a guide on registration, training, and other valuable resources.

Understanding the types of accounts IC Markets offer

Choosing the right trading account with IC Markets is essential to ensure you get the best experience. Let’s dive into the details of the three main account types they offer, breaking down their features:

1. cTrader Raw Spread Account:

• Platform Used: cTrader.
• Charges: For every $100k you trade, they’ll ask for $3.0. So, if you complete a full trade, it’s $6.0.
• Smallest Price Change (Spread): The spread can go as low as 0.0 pips.
• Starting Money: Ready to start? Keep $200 at hand to open this account.
• Borrowing Ability: You can use up to 500 times the money you put in.
• Max Active Trades: Hold up to 2000 trades open at the same time.
• Server Location: It’s based in London.
• Currency Choices: There are 61 different currency pairs you can pick from.
• Safety Net: If your losses reach 50% of what’s in your account, they’ll shut your trades.
• How to Trade: Trade any style you prefer, like quick trades or having two opposite trades at once.
• For Coders: If you’re coding, you’d use C#.
• Who’s It For: Perfect for those who are active daily traders and those who dive in and out quickly.

2. Raw Spread Account (for MetaTrader):

• Platform: MetaTrader.
• Fee: Each lot you trade will cost $3.5 on one side. That means a full trade rounds up to $7.0.
• Smallest Price Change (Spread): It can drop to as low as 0.0 pips.
• Minimum Deposit: You need at least $200 to get started.
• Loan Power: Again, they allow you to borrow up to 500 times your initial deposit.
• Max Trades: You can juggle up to 200 trades simultaneously.
• Server Place: It’s in New York.
• Currency Options: Choose from 61 different currency pairs.
• Safety Measure: If you end up losing half of what you have, they’ll close your trades.
• Trade Style: You can use trading robots or trade quickly.
• For Techies: The coding language here is MQL4.
• Ideal For: Those who use automated robots for trading or like to make swift trades.

3. Standard Account (for MetaTrader):

• Platform: MetaTrader.
• Cost: Good news! This one’s free.
• Smallest Spread: It starts from 0.6 pips.
• Initial Money: Just like the others, you need a minimum of $200.
• Borrowing Capacity: You can leverage up to 500 times your deposit.
• Max Active Trades: Have as many as 200 trades open at once.
• Server’s Home: Located in New York.
• Currency Choices: Offers 61 currency pairs for trading.
• Risk Control: Trades will be halted if you hit a 50% loss.
• How to Trade: You’re free to choose any method or strategy.
• For Coders: It uses MQL4 as its coding language.
• Best Suited For: Ideal for traders who trust their judgment and intuition.

How to start trading on IC Markets platform?

If you’re considering trading on IC Markets platform and are unsure about getting started, we’ve got you covered. Here’s a clear, step-by-step guide to help you set up your trading account on IC Markets:

Begin registration

Head to the IC Markets website. You’ll find a button or link that says “Open trading account”. This is your starting point. Simply click on it.

Completing the registration form

After selecting “Open trading account”, a form will appear. Here’s what you need to do:

• Password: It’s crucial to have a strong one. Use a combination of uppercase and lowercase letters, numbers, and special symbols. Always store your password securely and never share it.
• Email Address: Add an email address you regularly use. IC Markets will send important updates, so you’d want to check it often.
• Other Info: The form might ask for additional details like your full name, phone number, and residential address. Make sure everything you enter is correct.

Accessing your trading account

After registering, it’s time to log in. Use your email and password. This will lead you to your personal account, a space dedicated to your trading activity on IC Markets. Think of it as your main hub for all things related to your trades.

Putting money into your account

To begin trading, you need money in your account. Here’s how:

• In your trading account, look for instructions or links about adding funds. This is sometimes called “replenishing your deposit account”.
• You’ll have various options like bank transfers, credit cards, or even online payment portals. Opt for the method you find most convenient and follow the given steps.

Setting up your account

• Your trading account isn’t just for viewing your trades. It’s also where you can tweak certain settings:
• You might want to set up specific email alerts or modify some privacy settings. Spend some time exploring the available options. Make the space yours by adjusting settings to your preference.

Taking out your profits

• Trading might yield profits, and when it does, you should know how to access it.
• Within your personal account, there’s a section dedicated to withdrawals. This will have clear steps on how to transfer your earnings from IC Markets to your personal bank or another chosen destination.

Advantages of the demo account of IC Markets

Based on the IC Markets broker review prepared by Traders Union, this company offers a demo account that helps newbie traders master the skills of trading. Here are some advantages of the demo account of IC Markets:

Risk-free exploration

The demo account by IC Markets stands out for its zero-risk feature. When you use it, you’re not spending any real money. This means you can try different trading strategies and familiarize yourself with the platform without the fear of financial loss. However, there’s a flip side: while there’s no risk of losing real money, you also can’t make real profits. Everything you gain or lose is virtual.

An educational tool

The primary purpose of this account is educational. For someone new to trading, the world of stocks and markets can be overwhelming. The demo account serves as a bridge, helping beginners understand how to navigate the platform, execute trades, and observe market movements. It can be likened to training wheels on a bicycle – they’re there to support you until you’re confident enough to go on your own.

Encouraging consistent learning

IC Markets has designed the demo account to prompt users into active learning. If you create an account and leave it inactive for 30 days, it will automatically expire. This policy acts as a gentle reminder, pushing you to continue your practice sessions. Regular engagement ensures better retention and a more profound understanding of trading concepts.

Realistic trading environment

One of the notable features of the demo account is its realistic market simulation. Even though the money involved is virtual, the market conditions mirror the real world. This is crucial for a learner. Practicing in a setting that mimics the actual market ensures that when you transition to real trading, there are fewer surprises. You already have a feel for market movements, making the switch smoother and more intuitive.

Accessible to all

Financial accessibility can sometimes be a barrier to many when it comes to trading. But with IC Markets’ demo account, this is not a concern. The account doesn’t require you to invest any real money to start practicing. This inclusivity means whether you have ample funds or are on a tight budget, you can use this platform to enhance your trading skills.

Advantages and disadvantages of IC Markets

IC Markets is a good company with different trading account types. Here are some advantages and disadvantages:

Advantages of using IC Markets:

• Legal and licensed. IC Markets is fully legal and has secured multiple licenses. This means traders can feel safe knowing they’re working in a regulated environment.
• Good reputation. Many traders give positive feedback about IC Markets. Most of them praise the platform for being reliable and easy to use.
• Plans for everyone. Whether you’re just starting or are an experienced trader, IC Markets has a plan to fit your needs.
• Useful trading tools. The platform provides many tools to help traders. These tools can help you make better decisions and make your trading experience smoother.
• Learning and analysis resources. If you’re new to trading or want to improve your skills, IC Markets has a lot to offer. They provide market analysis and other educational materials, so you’re always in the know.
• Options for all types of traders. It doesn’t matter if you’re trading daily or looking to invest passively, IC Markets has something for everyone.

Disadvantages of using IC Markets:

• No weekend trading. If you like trading on weekends, IC Markets might not be for you. They don’t allow trading during this time.
• Lack of bonuses and contests. Some traders like getting bonuses or joining competitions that offer big prizes. If that’s you, know that IC Markets doesn’t have these kinds of offers.
• Delays in getting paid. A few traders mentioned that they had to wait a bit longer to get their profits. While it’s not a big problem, getting paid on time is always better.

Let’s summarize

IC Markets is a trading platform that many traders trust. They operate legally, offer a range of plans, and provide useful tools and resources. This makes the platform suitable for both new and seasoned traders. However, it’s important to note that they don’t support weekend trading and might have occasional delays in payments. Plus, they lack bonuses and contests that some traders look forward to. So, while IC Markets has many strengths, it’s essential to consider its limitations too.

For anyone wanting a thorough understanding, it’s a good idea to check out the detailed review on the Traders Union official website.

FAQs

How much does IC Markets charge to trade?

IC Markets offers a Standard Account with no commission but with a spread markup. For their Raw Spread Account, they charge a $3.5 commission per standard lot round turn.

What is the minimum deposit of IC Markets?

The minimum deposit at IC Markets is $200.

Is my money safe with IC Markets?

IC Markets is globally regulated by numerous authorities. Trade confidently, knowing they’re overseen by the world’s strictest financial bodies.

What is the minimum withdrawal from IC Markets?

The company doesn’t set a minimum amount, but clients should consider possible bank fees.

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