IC Markets Review
Introduction
IC Markets, headquartered in Australia, is a regulated forex broker with more than 180,000+ active clients. Providing trading options for experienced day traders, scalpers, and newcomers to the forex market, it also stands for one of the biggest forex CFD providers globally.
The affordable pricing range and modular execution of IC Markets make it a great choice for algorithmic traders worldwide. All the clients of IC Markets can take advantage of tight variable spreads starting at 0.0 pips on Major Forex pairs. Furthermore, IC Markets is a reliable broker as it is regulated by Cyprus Securities and Exchange Commission (CySEC).
Along with MT4 and MT5 trading platforms, IC Markets also offer cTrader accounts for its clients. Also, the platform has a clear fee report, is multilingual, and is highly customizable. Furthermore, all three trading platforms work in android and iOS mobile trading apps too which is quite a significant benefit.
In this article, we will further read about the features, account types, trading conditions, and pros & cons of IC Markets.
Features of IC Markets
IC Markets has extensive knowledge of the Asian & European forex, CFD, and equity markets. They further provide spreads from 0.00 pips and choose the best technology solutions for trading. This will make your trading journey smoother, better, and more comfortable.
Let Us See Some Features That Ic Markets Provide:
Educational Materials:
IC Markets provides numerous articles and dozens of videos that are beneficial for both novice and experienced traders. You also have access to webinars where you can connect with the most experienced traders.
Fast Trade Execution:
IC Markets is widely popular for its lightning-fast order execution. Investors do not have to wait for the execution because all transactions typically finish within seconds. Also, traders have features like multiple order types, detachable charts, market depth, high liquidity, and lower spreads.
Variety of Strategies:
The trading platform for IC Markets is open to all strategies such as scalping, day trading, hedging, and automated algorithmic trading. You can choose any strategy depending on your preference.
Wide Range of Assets:
You have access to more than 75 trading pairs including cryptocurrencies. Also, IC Markets provide 1980+ products, including forex, precious metals, stocks, futures, and other CFDs on commodities, at the lowest spreads and with the fastest executions.
Great Customer Service:
IC Markets provide customer service round-the-clock. You can connect to the customer service team 24*7 whenever you face any issue. To make the platform more reliable and comfortable, IC Markets provide customer service in a variety of languages.
Variety of Payment Options:
IC Markets offers payment options such as credit and debit cards, bank transfers, PayPal, Skrill, Union Pay, and Neteller. All the funds are kept in segregated accounts hence they are fully safe.
Account Types
IC Markets provide two types of Meta Trader trading accounts– Raw Spread Accounts and Standard Trading Accounts. They also provide cTrader Accounts. All the accounts have a starting deposit of 200$.
Raw Spread and cTrader Accounts provide the lowest spreads such as 0.0 pip with a commission range of $3.50 per lot per side. Whereas, in the Standard Trading Accounts, IC Markets does not impose a commission.
Further, The cTrader account uses C# language whereas, both Raw Spread Trading Accounts and Standard Trading Accounts use the MQL4 programming language. CTrader account is suitable for Day traders and Scalpers. The Raw Spread account is suitable for EAs and scalpers, and the Standard trading account is suitable for Discretionary traders.
Trading Conditions
Margin & Leverage:
IC Markets provide traders with access to the forex market by providing leverage up to 1:500 on all the trading account types. However, before trading with leverage you must understand that it is a two-way knife. If it is profitable, it can cause huge losses as well. Before trading with high leverage, you must have extensive knowledge of the market.
Spreads:
One of the most prominent reasons for the popularity of IC Markets is its competitive spreads. The spreads on MetaTrader 4, 5, and cTrader RAW platforms can be as low as 0.0 pips. In a standard account, the pips start from 0.6 pips.
Commission:
In a cTrader account, commission per USD 100k is $ 3.0. In a Raw spread account commission per lot per side is $ 3.5. In a Standard account commission per lot per side is 0.
Currency Pairs:
On all 3 trading platforms, IC Markets streams prices for 60 different currency pairs and 4 metals. This is why day traders, scalpers, and users of expert advisors prefer IC Markets because of its low pricing and unmatched execution speeds.
Swap Rates:
IC Markets offer long and short swap rates for all the currency pairs. Further, those traders who are prohibited to pay swaps such as Muslim traders have the option to trade via Islamic Accounts on all the three trading platforms.
Pros of IC Markets
- Lower fees
- Fast trading execution
- Offers three types of trading accounts
- All deposits and withdrawals are free of cost
- Smooth account opening without any hassle
- Competitive spreads
- Variety of trading strategies available
- Islamic trading accounts available for Muslim traders
- 24*7 customer service
Cons of IC Markets
- High minimum deposit (200$)
- Limited product selection
- Clients from the U.S. are not accepted
- Live chat is slow
Conclusion
Brokers are your ladders to success. Leading brokers like IC Markets is a wise choice for you because the platform is user-friendly and reliable. It offers a variety of sophisticated features with real-time market monitoring. When you trade with regulated brokers like IC Markets, you can greatly benefit and reach your trading journey successfully. For both experienced and rookie traders, IC Markets is a one-stop destination for features such as quick order execution, tight spreads, deep liquidity, value-added tools, and a variety of assets. Furthermore, it is regulated hence your funds are in safe hands. With cutting-edge technology and good customer support, you will experience a world-class trading journey.