IC Markets is a broker with good reputation, great selection between platform including MT4, MT5 and cTrader platform, education provided for free and 24/7 customer support. There is a selection between spread basis and raw spread accounts also various instruments are available.
- Well regulated
- Good customer service support
- Well-developed platforms
- Innovative
- Not available in some countries
- No social and copy trading
IC Markets review
What is IC Markets?
The company was incorporated in Sydney, Australia in 2007 by a team of financial professionals who aimed to bridge the gap between retail and institutional clients offering trading solutions. Recently, the broker grows to one of the leading trading providers in Australia and also expand beyond as serves international and European entity, also establish a Chinese Support centre and proposes truly competitive trading conditions.
IC Markets Pros and Cons
IC Markets is a broker with good reputation, great selection between platform including MT4, MT5 and cTrader platform, education provided for free and 24/7 customer support. There is a selection between spread basis and raw spread accounts also various instruments are available.
On the flip, proposal vary according to the entity and is larger via offshore entity, we found some spreads higher than average.
What type of broker is IC Markets?
IC Markets is an ECN trading environment provider that brings true spreads from 0.0 pips from the liquidity suppliers from over 50 different banks and dark pool liquidity sources across 60 forex pairs. IC Markets is a choice for high volume traders, scalpers, EA traders and robots that can enjoy no dealing desk with no manipulation at the prices.
The execution brings speeds and low latency through fiber optic connects traders orders to the market by servers in the NY4 & LD5 IBX Equinix Data Center New York and London.
Is IC Markets safe or a scam
IC Markets considered being a safe broker, as the licensed and regulated trading companies are constantly overseen and audited by the external reputable authority.
Is IC Markets legal?
In the case of IC Markets, the broker is incorporated in Australia it does its service regarded by the Australian Securities and Investments Commission (ASIC) license (read more why trade with ASIC Brokers). In addition, IC Markets runs a regulated entity in Cyprus, therefore officially and legally operating trading service for European clients.
With a license and regulation from ASIC, which one of the strictest and most demanding financial regulators, IC Market traders can feel completely confident. The money protection provided through multiple regulated ways and includes the client money segregation while accounts accessed by the client only and used for the purpose of facilitating their own trading.
In addition, IC Markets is a member of the Financial Ombudsman Service (FOS), an approved Australian external dispute resolution scheme that fairly and independently resolves disputes between consumers and member financial services providers.
Leverage
IC Markets offering leverage up to 1:500 that opens the path to the forex market for Retail traders with a quite low or small initial deposit to cover margins. The use of leverage can magnify gains but you should always remember that losses can also exceed your initial deposit.
Maximum of 1:500 available for Australian clients
1:30 allowed for European traders
1:500 for an international proposal
Leverage is known as a loan given by the broker to the trader to enable trading with a bigger capital and increase potential gains. However, we would recommend to any trader use tool smartly and read carefully how to set up correct leverage to a particular instrument or trading strategy, as also leverage defined by the IC Markets entity and particular jurisdiction regulations.
Account types
There are three main account types that are featuring the same compatibility and power provided by the company, yet are designed to meet the expectations and needs of different trading styles. Two first account offering raw spread condition and commission charge per trade also offering either MT4 platform of cTrader for your selection.
The accounts are available in multiple currencies, up to 10, are fully segregated from the company’s funds and supported by multi-lingual customer team. Additionally, traders that follow Sharia rules can sign for Swap free or Islamic account as an option at IC Markets too, along with risk-free demo account on both MT4 and cTrader that allows the practice of the trading strategy.
