IC Markets
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Popularity | |
Leverage | 1:500 |
Minimum Deposit | $200 |
Regulation | ASIC, CySEC, FSA |
Payment Methods | Visa, MasterCard, PayPal, Bank Transfer, Skrill, Neteller |
Trading Assets | Forex, CFDs, Indices, Commodities, Stocks, Cryptocurrencies |
MT4 | ✅ |
MT5 | ✅ |
Spreads | Extremely low |
Average cost: EUR/USD | 0.1 pips |
Demo Account | ✅ |
Islamic Account | ✅ |
MAM | ✅ |
PAMM | ❌ |
CopyTrading | ✅ |
ZuluTrade | ✅ |
Scalping | Yes |
Signals | ✅ |
EAs/Robots | Available |
Negative Balance Protection | Yes |
Deposit Fee | ❌ |
Withdrawal Fee | ❌ |
Inactivity Fee | $10 per month after 12 months of inactivity |
Year Established | 2007 |
Address | Level 4, 50 Carrington Street, Sydney, NSW 2000, Australia |
Contact Information | Email: [email protected], Phone: +61 (0)2 8014 4280 |
Mobile Trading APP | |
Rating | ★★★★☆ [4.5] |
Website |
Pros and Cons
- Extremely low spreads, starting from 0.1 pips
- Access to a wide range of trading instruments across multiple markets
- Strong regulatory framework with multiple registrations
- High leverage options up to 1:500
- Advanced trading platforms, including MT4 and MT5
- Minimum deposit may be high for some traders ($200)
- No PAMM accounts available for money managers
- Inactivity fee charged after 12 months of no trading activity
- Limited educational resources for beginners
- Customer support can be improved
Introduction
ICMarkets stands as a prominent figure in the world of online brokerage, renowned for its commitment to providing traders with a competitive edge through advanced technology, low-latency connectivity, and superior liquidity.
Established in 2007 in Sydney, Australia, the broker has grown exponentially, catering to a wide array of traders from novices to experienced professionals across the globe.
This review delves into its various facets, offering insights into its services, offerings, and overall trading experience.
Open a free accountTrading Platforms
MetaTrader 4 (MT4)
- User Experience: Renowned for its user-friendly interface, MT4 is a favorite among traders of all levels. ICMarkets enhances this experience with customized tools and an array of indicators.
- Execution Speeds: With servers located in the NY4 & LD5 IBX Equinix Data Centers, traders experience lightning-fast execution speeds, minimizing slippage.
- Customization: Offers extensive customization options, including Expert Advisors (EAs) for automated trading strategies.
MetaTrader 5 (MT5)
- Advanced Features: Building on MT4’s strengths, MT5 introduces more timeframes, technical indicators, graphical objects, and the Economic Calendar.
- Hedging Allowed: MT5 supports hedging, allowing traders to open multiple positions per instrument, including directly opposing positions.
- Market Depth: Traders gain access to market depth, offering insight into the market’s order book.
cTrader
- Designed for Traders: Offers a clean, intuitive interface designed for both novice and experienced traders. It is especially favored for its advanced order capabilities and precision.
- Algorithmic Trading: cTrader stands out for its algorithmic trading platform, cAlgo, which allows traders to create trading robots and custom technical indicators using C#.
- Level II Pricing: Provides full market depth for a more comprehensive view of the market.
Asset Offerings
ICMarkets offers an extensive range of trading instruments across various markets:
- Forex: Access to over 60 currency pairs with leverage up to 1:500.
- Commodities: Trade more than 40 different commodities, including gold, silver, oil, and gas.
- Indices: Offers a wide selection of global indices without any commissions or requotes.
- Stocks: Trade +2000 CFDs on stocks from major exchanges like NYSE, NASDAQ, and more.
- Cryptocurrencies: Offers cryptocurrency trading against major currencies like USD, AUD, and JPY.
Fees and Spreads
ICMarkets is known for its extremely competitive pricing structure:
- Spreads: Offers some of the lowest spreads in the industry, starting from 0.0 pips on major pairs.
- Commission: Charges a low commission on its cTrader and Raw Spread accounts, starting from $3.0 per side per lot.
- No Hidden Fees: Commits to transparency, with no hidden fees or surcharges.
Instrument |
Average Spread |
EUR/USD |
0.1 pips |
GBP/USD |
0.2 pips |
Gold |
$0.3 |
Bitcoin |
$10 |
Leverage
Offers leverage up to 1:500 for forex trading, providing traders with the potential to increase their trading exposure with a smaller initial deposit.
Account Types
ICMarkets caters to a diverse clientele with three main account types:
- Standard Account: No commission and offers higher spreads. Ideal for novice traders.
- Raw Spread (cTrader): Targets more experienced traders with raw spreads and a commission per trade.
- Raw Spread (MT4/5): Similar to the cTrader Raw Spread account but for MT4/5 platforms.
Education and Resources
- Comprehensive Educational Materials: Offers a wide range of resources, including articles, tutorials, webinars, and seminars.
- Demo Account: Provides a risk-free way for traders to familiarize themselves with the platforms and practice trading strategies.
Customer Support
- 24/7 Support: Available through live chat, email, and phone. Support is provided in various languages to cater to a global audience.
- Dedicated Account Managers: Offers personalized service with dedicated account managers for traders.
Security and Regulation
- Strictly Regulated: Licensed by reputable regulatory bodies such as ASIC, CySEC, and FSA, ensuring a high standard of accountability and transparency.
- Funds Security: Client funds are held in segregated accounts with top-tier banks, separate from the company’s funds.
Deposit and Withdrawal
- Multiple Payment Methods: Supports plenty of payment methods, including credit/debit cards, bank wire transfers, and e-wallets like PayPal, Skrill, and Neteller.
- Fast and Free Withdrawals: Offers quick withdrawal processing times and does not charge withdrawal fees.
Conclusion
ICMarkets emerges as a leading choice for traders seeking a reliable and efficient trading environment.
With its advanced trading platforms, extensive range of assets, competitive fees, and strong regulatory framework, the broker provides an attractive proposition for traders at all levels.
Whether you are a beginner looking to enter the market or a seasoned trader seeking advanced tools and low costs, ICMarkets accommodates all with excellence and integrity.
Visit official website: www.icmarkets.comUser Reviews
Video Review
Frequently Asked Questions (FAQ)
What is the minimum deposit?
The minimum deposit is $200, which allows traders to access their wide range of trading instruments and platforms.
Is ICMarkets regulated?
Yes, it is regulated by multiple reputable bodies including ASIC, CySEC, and FSA, ensuring a secure and reliable trading environment.
Does ICMarkets offer a demo account?
Yes, it offers a free demo account for traders to practice and familiarize themselves with the platform before trading with real funds.
Can I trade cryptocurrencies?
Yes, the broker offers trading on a range of cryptocurrencies alongside forex, stocks, and other assets, providing a comprehensive trading experience.
What platforms does it offer?
ICMarkets supports both MetaTrader 4 and MetaTrader 5 platforms, in addition to their mobile trading app for trading on the go.
How are the spreads?
It offers extremely low spreads, starting from 0.1 pips on major currency pairs, making it an attractive option for many traders.
Is there an inactivity fee?
Yes, it charges a $10 monthly inactivity fee after 12 months of no trading activity, so it's important to remain active or close the account if it's no longer needed.
Resources
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This article has been written, edited and reviewed by the following members of our team:
Last update: April 27, 2024