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IC Markets Review

August 26, 2023 by Shandor Brenner Leave a Comment

Overview of IC Markets

IC Markets is a leading online broker in the Forex trading space. With more than 10 years’ experience, they offer clients access to over 200 financial instruments across 7 asset classes including forex, indices, commodities and metals. Their multi-award winning platform offers traders powerful tools to help them make informed decisions when trading the world’s markets.

The broker is regulated by the Australian Securities and Investments Commission (ASIC) and offers a range of account types to meet traders’ needs. For instance, IC Markets offer their cTrader Raw Spread Account that provides low cost spreads on currency pairs with no commissions charged. In addition, they also have the Standard Account which offers traders competitive spreads while charging commission for each trade.

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Features of the IC Markets Platform

  1. Advanced charting tools: IC Markets offers traders an advanced charting package to access current market data and technical analysis. This includes the ability to draw trend lines, set indicators, conduct custom searches, compare instruments across multiple timeframes and more.
  2. Tight spreads: Traders can take advantage of low cost raw spreads from 0.0 pips on over 90 currency pairs as well as some commodity and index CFDs.
  3. Variety of trading instruments: As mentioned before, IC Markets offer traders access to more than 200 financial instruments across 7 asset classes including forex, indices, commodities and metals.
  4. One-click trading: This feature allows traders to quickly enter a trade with just one click.
  5. Trading signals: IC Markets provide traders with a suite of trading signals that can be used to help inform their decision making.
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Account types, spreads & commissions available

At IC Markets, traders have access to four account types:

  1. Standard Account – This is a commission-based account that offers spreads from as low as 0.0 pips on major currency pairs. There is no minimum deposit amount for this type of account.
  2. Raw Spread Account – This is a commission-free account that offers traders spreads starting from 0.0 pips on over 90 currency pairs as well as some commodity and index CFDs, with a minimum deposit amount of $200 for instant execution orders or $1000 for market execution orders.
  3. Islamic Account – This is a commission-free account that offers traders low cost raw spreads from 0.0 pips, with no commissions charged.
  4. cTrader Account – This is an ECN direct market access account that offers traders spreads from 0.0 pips on major currency pairs as well as some commodity and index CFDs, with a minimum deposit amount of $200 for instant execution orders or $1000 for market execution orders.

Trading Platforms used by IC Markets

IC Markets provide traders with two trading platforms to use for their trading activities: MetaTrader4 (MT4) and cTrader.

The MT4 platform is the leading online trading platform in the Forex markets, offering traders full access to a range of features such as expert advisors, one-click trading, advanced charting tools and more.

The cTrader platform is a powerful and user-friendly platform that offers traders a range of features such as advanced charting tools, one-click trading, multiple order types and more. It also provides traders with access to ECN liquidity from some of the world’s largest banks.

Additional Services offered by IC Markets

In addition to the trading features available on their platform, IC Markets also offer a range of additional services for traders such as VPS hosting, educational materials and customer support.

Their VPS hosting service provides traders with access to dedicated servers which can help improve the speed and reliability of their trades. They also offer an extensive library of educational materials that includes tutorials, webinars and more.

Finally, traders have access to 24/5 customer support via live chat, email and phone to help them with any queries or issues they may have.

Comparing IC Markets to other Forex brokers – who’s the winner?

When it comes to comparing IC Markets against other Forex brokers, the clear winner is IC Markets. Their award winning platform offers traders powerful tools to help them make informed decisions when trading the world’s markets. The broker also offers low cost raw spreads on over 90 currency pairs as well as some commodity and index CFDs while still charging no commissions for the trades. In addition, they also offer their customers a range of additional services such as VPS hosting, educational materials and customer support. All this makes IC Markets a great choice for traders looking to trade in the Forex markets.

Review

  • User Interface: 9
  • Execution Speed: 7
  • Features & Tools: 8
  • Stability: 10
  • Customizability: 6
Go to IC Markets website
Summary
In summary, IC Markets is a leading online broker in the Forex trading space with more than 10 years' experience. They offer traders access to over 200 financial instruments across 7 asset classes including forex, indices, commodities and metals. The broker is regulated by the Australian Securities and Investments Commission (ASIC) and offers four different account types to meet traders’ needs. On top of that, they also provide traders with two powerful trading platforms – MetaTrader4 (MT4) and cTrader – as well as a range of additional services such as VPS hosting, educational materials and customer support. All this makes IC Markets a great choice for traders looking to trade in the Forex markets.
Advantages
Low cost raw spreads from 0.0 pips on over 90 currency pairs
No commissions charged on raw spread accounts
Access to more than 200 financial instruments across 7 asset classes
Powerful and user-friendly trading platforms – MetaTrader4 (MT4) and cTrader
Additional services like VPS hosting, educational materials, and 24/5 customer support
Disadvantages
Minimum deposit amount is required on certain types of accounts
Lack of diversity in trading platforms, with only MT4 and cTrader available
8

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