IC Markets Review 2024

Introduction

IC Markets is a prominent global forex and CFD broker, established in 2007 and headquartered in Sydney, Australia. Known for its robust trading platforms and competitive pricing, IC Markets has cemented its reputation as a preferred choice for traders worldwide. With a focus on providing a seamless trading experience, IC Markets offers a wide array of financial instruments and is committed to transparency and high regulatory standards.

Expert Analysis

IC Markets distinguishes itself in the competitive landscape of online brokerage through its advanced trading infrastructure and commitment to providing low-cost trading solutions. Our thorough analysis of IC Markets evaluates its offerings across various parameters to deliver an informed verdict.

With over a decade of industry experience, IC Markets has built a solid reputation, regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). This regulatory oversight ensures a secure trading environment and adherence to high compliance standards.

One of IC Markets’ standout features is its provision of tight spreads and low commissions, appealing to both retail and institutional traders. The broker offers a comprehensive range of trading instruments, including forex, stocks, cryptocurrencies, indices, and commodities, enabling traders to diversify their portfolios effectively.

Moreover, IC Markets excels in its technological offerings, providing access to popular trading platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These platforms are known for their advanced charting tools, automated trading capabilities, and user-friendly interfaces, catering to the needs of traders at all experience levels.

IC Markets also prioritizes client education and support, offering a wealth of resources including tutorials, webinars, and market analysis to enhance traders’ knowledge and skills.

However, some areas for improvement remain, such as the lack of certain social trading features and limited options for beginners seeking more guided trading experiences.

Our expert analysis reaffirms IC Markets as a reliable and efficient brokerage, delivering a superior trading experience backed by stringent regulation, diverse trading instruments, advanced platforms, and comprehensive educational resources.

The Pros and Cons

Pros

✔️ Regulated by top-tier authorities

✔️ Tight spreads and low commissions

✔️ Wide range of trading instruments

✔️ Advanced trading platforms

✔️ Excellent customer support

Cons

❌ Limited social trading features

❌ May be overwhelming for complete beginners

Is IC Markets Right for You?

IC Markets caters to a diverse client base, from novice traders to seasoned professionals and institutional investors. Its low-cost trading solutions and advanced tools make it particularly appealing to high-frequency and algorithmic traders. At the same time, its extensive educational resources and demo accounts support beginners in their trading journey.

What Sets IC Markets Apart?

Several factors distinguish IC Markets from other brokers:

• Regulatory Oversight: Regulated by ASIC and CySEC, ensuring high standards of client protection.
• Low-Cost Trading: Offers some of the lowest spreads and commissions in the industry.
• Advanced Platforms: Provides access to MT4, MT5, and cTrader, catering to all types of traders.
• 24/7 Customer Support: Available around the clock in multiple languages.

Main Features

Trust and Safety

IC Markets has a strong reputation built on transparency and reliability. The broker is regulated by ASIC (Australia) and CySEC (Cyprus), ensuring adherence to strict regulatory standards and providing traders with a secure trading environment. IC Markets maintains segregated client funds and offers negative balance protection, enhancing the safety and trust of its services.

Regulation

IC Markets operates multiple entities, each regulated by a recognized financial authority, ensuring robust client protection and compliance with international standards:

• IC Markets (AU): Regulated by the Australian Securities and Investments Commission (ASIC), license number 335692.
• IC Markets (EU): Regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 362/18.
• IC Markets (SC): Regulated by the Seychelles Financial Services Authority (FSA), license number SD018.
• IC Markets (Global): Additional oversight from other jurisdictions.

We rate ASIC and CySEC as Tier-1 regulators, providing a high level of client protection. The FSA is considered a Tier-3 regulator, offering a lower level of regulatory scrutiny.

Is IC Markets Safe to Trade With?

IC Markets operates under stringent regulatory frameworks, providing a secure trading environment. The broker segregates client funds from operational funds and offers negative balance protection, ensuring that traders cannot lose more than their account balance.

IC Markets operates multiple entities, each regulated by reputable financial authorities, ensuring a varying degree of account security depending on the regulatory body.

For example, clients trading with the Australian entity enjoy a high level of regulatory scrutiny under the Australian Securities and Investments Commission (ASIC), providing robust protections including a compensation scheme for broker insolvency. Similarly, clients under the European entity are regulated by the Cyprus Securities and Exchange Commission (CySEC), which also offers comprehensive oversight and protection mechanisms. In contrast, the offshore entity regulated by the Seychelles Financial Services Authority (FSA) is subject to less stringent regulatory requirements.

IC Markets is also a member of several industry bodies that enhance its credibility and offer additional dispute resolution mechanisms.

To summarize, IC Markets is considered moderately trustworthy and stable due to the following factors:

• 15-year operating history
• Multi-asset broker
• All entities segregate client funds
• All entities offer negative balance protection
• Regulation by top-tier authorities (ASIC and CySEC)
• Membership in industry bodies and adherence to high standards of client protection

Overall, IC Markets provides a secure trading environment with varying levels of regulatory protection based on the entity with which clients choose to trade.

Commission and Fees

IC Markets is renowned for its competitive commission and fee structure, making it a cost-effective choice for traders. The broker primarily operates on a spread-based model, with commissions charged on specific account types.

Commission and Fees Overview

IC Markets offers competitive commission and fees, tailored to suit various trading preferences. Below, we break down key components of their pricing model.

• Spread-based Trading: Tight spreads starting from 0.0 pips on major currency pairs.
• Commission Fees: Low commissions on Raw Spread accounts, typically $3.5 per lot per side.
• Swap Rates: Applicable on overnight positions, varying by currency pair and trade direction.
• Transparency: Clear and detailed information on all trading costs.

Deposit & Withdrawal Options

IC Markets offers a diverse range of deposit and withdrawal options to cater to its global clientele. Traders can fund their accounts and withdraw profits using various methods, including bank transfers, credit/debit cards, and electronic payment systems. These options provide flexibility and convenience, allowing traders to choose the method that best suits their preferences and location.

Bank Transfers: IC Markets supports both local and international bank transfers, enabling traders to deposit and withdraw funds directly from their bank accounts. While bank transfers may take longer to process compared to other methods, they are a reliable option for larger transactions and international transfers.

Credit/Debit Cards: Traders can use major credit and debit cards, such as Visa and Mastercard, to fund their IC Markets accounts instantly. This option is convenient for smaller deposits and provides quick access to trading funds.

Electronic Payment Systems: IC Markets supports various electronic payment systems, including Skrill, Neteller, and WebMoney, among others. These e-payment options offer instant deposits and withdrawals, making them ideal for traders who prioritize speed and efficiency.

Cryptocurrency Deposits: Additionally, IC Markets accepts cryptocurrency deposits, allowing traders to fund their accounts using popular cryptocurrencies like Bitcoin and Ethereum. This option appeals to traders who prefer the security and anonymity of blockchain transactions.

Low Fees and Fast Processing: IC Markets aims to provide cost-effective deposit and withdrawal solutions, with minimal fees and fast processing times. However, traders should review the specific fees and processing times associated with each payment method, as they may vary depending on the chosen option and the trader’s location.

In summary, IC Markets’ wide range of deposit and withdrawal options, coupled with its commitment to low fees and fast processing times, ensures a seamless and convenient experience for traders worldwide.

Tradable Instruments

IC Markets offers a diverse range of tradable instruments across multiple asset classes to meet the needs of traders with varying strategies and preferences. These include:

• Forex (FX) Pairs: Traders can access a wide range of major, minor, and exotic currency pairs, allowing participation in the global forex market with competitive spreads and fast execution.
• Commodities: A selection of popular commodities such as gold, silver, crude oil, natural gas, and other metals and energies is available for trading, providing opportunities to diversify portfolios and hedge against inflation or geopolitical risks.
• Indices: Trading is offered on major stock indices from around the world, including the S&P 500, NASDAQ, FTSE 100, DAX 30, and Nikkei 225, enabling speculation on the performance of global equity markets.
• Shares (Stocks): Traders can access a broad range of individual stocks from leading companies listed on major stock exchanges, enabling them to trade shares of companies they are familiar with or believe have growth potential.
• Cryptocurrencies: Popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and more are available for trading, providing exposure to the emerging asset class of digital currencies.
• Bonds: Trading in government and corporate bonds is offered, allowing traders to invest in fixed-income securities and diversify their portfolios with relatively low-risk assets.
• Futures: Traders can access futures contracts on various underlying assets, including commodities, indices, and currencies, providing opportunities for speculative trading and hedging against future price movements.
• Contracts for Difference (CFDs): IC Markets also offers CFDs across all the aforementioned asset classes, enabling traders to speculate on price movements without owning the underlying assets.

Overall, IC Markets provides a comprehensive selection of tradable instruments, catering to the diverse needs and preferences of traders across different markets and asset classes.

What are CFDs?

A Contract for Difference (CFD) is a financial derivative product that allows traders to speculate on the price movements of various underlying assets, such as stocks, indices, commodities, or currencies, without owning the underlying asset itself. When trading CFDs, traders enter into a contract with the broker to exchange the difference in the price of the asset from the time the contract is opened to when it is closed. CFDs provide traders with the opportunity to profit from both rising and falling markets, as they can take long (buy) or short (sell) positions.

What Can You Trade with IC Markets?

Account Types

IC Markets offers several account types to suit different trading needs:

• Standard Account: No commission, suitable for beginners.
• Raw Spread Account: Low spreads with a commission per lot, ideal for experienced traders.
• Islamic Account: Swap-free accounts compliant with Islamic finance principles.

Registration and Account Opening

Opening an account with IC Markets is straightforward:

1. Visit the IC Markets website and click “Open Account.”
2. Complete the registration form with your personal details.
3. Verify your email address and phone number.
4. Submit identification documents for KYC verification.
5. Fund your account using your preferred method.

Restricted Countries

IC Markets does not accept clients from the United States, Canada, Japan, North Korea, Iran, and some other regions due to regulatory restrictions.

Trading Platforms

IC Markets offers access to industry-leading trading platforms:

• MetaTrader 4 (MT4): Popular for its advanced charting and automated trading capabilities.
• MetaTrader 5 (MT5): Enhanced version of MT4 with additional features.
• cTrader: Known for its user-friendly interface and advanced trading tools.

Key Aspects of the Platform

• Advanced Charting Tools: Comprehensive technical analysis tools.
• Automated Trading: Supports Expert Advisors (EAs) and algorithmic trading.
• Mobile Trading: Platforms available on mobile devices for trading on the go.
• User-Friendly Interface: Intuitive and easy to navigate.

Research and Education

IC Markets provides a robust suite of research and educational resources:

Research

• Market Analysis: Daily updates and insights from expert analysts.
• Technical and Fundamental Reports: Detailed analysis to guide trading decisions.
• Economic Calendars: Keep track of important economic events.

Education

• Tutorials and Webinars: Extensive resources covering various trading topics.
• Educational Articles: In-depth articles on trading strategies and market analysis.
• Demo Accounts: Practice trading in a risk-free environment.

FAQs

What is IC Markets?
IC Markets is a global forex and CFD broker offering a wide range of financial instruments and advanced trading platforms.

Is IC Markets regulated?
Yes, IC Markets is regulated by ASIC (Australia) and CySEC (Cyprus).

What trading instruments are available on IC Markets?
IC Markets offers forex, commodities, indices, cryptocurrencies, stocks, and bonds.

What trading platforms does IC Markets offer?
IC Markets provides access to MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.

What are the deposit and withdrawal options on IC Markets?
IC Markets supports bank transfers, credit/debit cards, electronic payments, and cryptocurrency deposits.

Does IC Markets offer educational resources for traders?
Yes, IC Markets offers a comprehensive range of educational materials, including tutorials, webinars, and market analysis.

How can I contact IC Markets customer support?
IC Markets offers 24/7 customer support via live chat, email, and phone.

Is there a minimum deposit requirement to open an account with IC Markets?
IC Markets offers different account types with varying minimum deposit requirements.

Does IC Markets offer demo accounts?
Yes, IC Markets offers demo accounts for practice trading.

Is trading with IC Markets safe?
Yes, IC Markets is regulated by reputable authorities and employs advanced security measures.

Does IC Markets offer bonuses or promotions?
IC Markets occasionally offers bonuses and promotions. Check their website for current offers.

Can I trade on IC Markets using mobile devices?
Yes, IC Markets provides mobile trading applications for iOS and Android.

Does IC Markets offer Islamic trading accounts?
Yes, IC Markets offers swap-free accounts that comply with Islamic finance principles.

How can I open an account with IC Markets?
Open an account online through the IC Markets website, complete registration, verify your identity, and fund your account.

Can I trade with IC Markets if I am a resident of the United States?
No, IC Markets does not accept clients from the United States.

Customer Support

IC Markets offers comprehensive customer support services to assist traders with their inquiries, technical issues, and account-related queries. The broker provides various channels of communication to ensure that traders can reach out for assistance in their preferred method.

Live Chat: IC Markets provides 24/5 live chat support, allowing traders to connect with customer support representatives in real-time. The live chat feature is easily accessible on the IC Markets website and trading platforms, providing quick responses to questions and concerns, thus enabling the resolution of urgent issues efficiently.

Email Support: Traders can also reach out to IC Markets customer support via email. The broker offers dedicated email addresses for different types of inquiries, such as technical support, account verification, and general inquiries. The email support team aims to respond promptly and provide detailed assistance and solutions to traders’ concerns.

Phone Support: IC Markets offers phone support during business hours for traders who prefer direct communication. The phone numbers for IC Markets customer support are available on the broker’s website, enabling traders to discuss their issues or questions in detail with knowledgeable support agents. This personalized approach enhances the overall customer experience.

FAQs and Knowledge Base: IC Markets maintains an extensive FAQ section and knowledge base on its website, covering various topics related to trading, account management, platform features, and more. Traders can find answers to common questions and solutions to common issues by browsing through the FAQs and articles. The knowledge base serves as a valuable resource for self-help and troubleshooting, enabling traders to find information quickly and independently.

Overall Impression

IC Markets demonstrates a commitment to providing excellent customer support services to its clients. The availability of multiple channels of communication, including live chat, email, and phone support, ensures that traders can seek assistance in their preferred method. The promptness and effectiveness of IC Markets customer support contribute to enhancing the overall trading experience for clients, fostering trust and confidence in the broker’s services.

Conclusion

IC Markets stands out as a premier choice for forex and CFD traders, offering a robust combination of low-cost trading, advanced platforms, diverse instruments, and superior customer support. With strong regulatory oversight and a commitment to client education, IC Markets is well-positioned to meet the needs of both novice and experienced traders.

Information and Features

Trading Features

Further Information

Contact Information