IC Markets: Review, Analysis and Complete Guide
IC Markets is a secure online broker, founded in Australia in 2007, dedicated mainly to Forex and CFDs, but also offers index and commodity trading, Bitcoins, providing trading solutions for day traders and scalpers, as well as for beginner traders.
It offers state-of-the-art trading platforms, good connectivity and high liquidity. With IC Markets, it allows online traders to invest with prices and liquidity that were previously not available.
IC Markets operates in the Forex, CFD and Equity markets in Asia, Europe and North America. IC Markets created “Raw Spread”, which offers state-of-the-art technology, focusing on innovation and constant improvement.
In the following sections, we will provide you with all the relevant information about IC Markets and its available CFD trading on the Forex market, crypto currencies such as Bitcoin, platforms, user reviews and everything that will enable you to decide if IC Markets is the right broker for online trading.
Pros and Cons of IC Markets
- Secure Broker
- Unlimited demo account
- Operations with Bitcoin
- Excellent opinions
- Low commissions and spreads
- Not applicable to ESMA
- Does not offer support in Spanish
IC Markets Financial Products
While IC Markets specializes in Forex and CFDs, it is possible to trade a wide variety of assets. The trader can trade 60 Forex currency pairs, cryptosystems such as Bitcoin, CFDs on 17 stock indices, commodities and shares, futures, bonds issued by governments around the world, among others.
The Forex market offers traders the opportunity to trade 24 hours a day, 5 days a week in the world’s most liquid financial market, taking advantage of tighter spreads, superior execution and high inter-bank liquidity in 60 currency pairs.
IC Markets offers tight spreads from 0.0 pips, leverage up to 1:500 and deep liquidity when investing.
IC Markets offers exposure to the world’s largest stock markets through the offering of CFDs. With spreads of 0.5 points on 16 indices, traders can get a broader view of the stock markets while enjoying commissions in the major markets.
This intermediary allows trading with 23 indices from all over the world, leverage of up to 200:1, no commissions and through a variety of platforms when investing.
IC Markets offers trading of energy, agricultural and metal products as a currency pair against the USD or as futures CFDs. This trader combines tight prices and flexible lot sizes of 10 cents per point.
IC Markets trades over 19 commodities, in the field of energy, agriculture and metals with a leverage of up to 1:500.
Through IC Markets the trader can invest in over 100 large-cap CFDs and ETFs on the ASX, NYSE and NASDAQ stock exchanges. This intermediary has selected a range of companies and EFTs from the world’s most popular to provide the best trading opportunities.
Bonds offer traders the opportunity to speculate on interest rates and global risk, to hedge and to diversify their strategy. IC Markets offers a choice of bonds issued by governments around the world, including Japan, Europe, the United Kingdom and the United States.
This trader owns more than 6 bonds to invest, without commissions, with a leverage of up to 200:1 and deep liquidity.
IC Markets offers a wide range of crypto currencies such as Bitcoin or Ethereum with the ability to trade against other retail traders 24/7 with up to 1:20 leverage.
IC Markets’ CFD Cryptocurrency product allows traders to go long or short without actually having any crypto currency in their possession. This means that traders can be exposed to the price of cryptocurrency without worrying about the security risks associated with storing Bitcoins or the chosen crypto.
In addition to Bitcoin and Ethereum, IC Markets also allows you to invest in other crypto currencies such as Dash, Litecoin, Ripple, Eos, EmerCoin, NameCoin and PeerCoin.
Futures are one of the most popular forms of CFDs. IC Markets offers a range of futures from around the world, including the ICE Dollar Index and the CBOE VIX Index. Online futures-based CFDs are offered exclusively on the MetaTrader 4 platform.
IC Markets has 4 global futures to invest in, with up to 200:1 leverage, no commissions and deep liquidity.
IC Markets’ Introductory Broker (IB) program is designed to remunerate and reward users for referring clients, with no limits on the number of accounts or trading volumes recommended.
IC Markets’ Money Manager program combines market-leading pricing with flexible MAM/PAMM allocations and the ability to fully customize clients’ trading conditions.
MAM/PAMMs can generate higher returns and give money managers more control over their fee surcharges, maximizing returns for all parties. IC Markets handles all the back-office and technical logistics.
White Label Partnerships
The white label program is a turnkey solution that gives you access to IC Markets’ technology and liquidity with minimal cost and risk. Alternatively, it is possible to choose to take the liquidity from this trader only by using one of the many flexible connectivity options.
It involves partnering with a leading forex broker in the world to provide its clients with the performance they demand from their trader.
This model is called win/win/win. Customers gain with better trading conditions, affiliates and IC Markets gain with more satisfied customers who produce a higher trading volume and, in turn, a higher level of remuneration.
IC Markets is constantly seeking regional partnerships to establish its brand in high growth areas around the world. This trader offers a pricing model with tight spreads and good trading conditions for Forex traders worldwide.
IC Markets provides complete technology and support so that the partner can focus on building their business.
How to Open an Account at IC Markets
According to users’ opinions, opening an account at IC Markets is a simple procedure. The first step to open an account with IC Markets is to log in to their website and apply to open an account
You will then need to complete a form with your personal details and then set up the account type you select, namely: trading platform, account type and the currency in which the funds are nominated.
The account is almost open and has been formalized. However, the process is not yet complete, as the information must be verified and a second questionnaire answered on the suitability of the products for the trader’s profile as an investor.
Finally, it is necessary to carry out the verification process. Until we have verified our trading account, it will not be activated. Therefore, even though it is possible to deposit funds, they will not be available for trading until the account is activated.
Requirements and verification
IC Markets requests two key documents:
- Accreditation of identity by means of Identity Card, Passport or similar document.
- Proof of residence (a recent utility bill in the customer’s name will suffice).
From time to time, IC Markets may require documentation regarding ownership of the payment method to be used to deposit funds to the trading account.
The verification process, besides being a legal requirement, implies a secure protocol for both parties. The documentation to be sent by the trader will prove that the data provided is real.
IC Markets redirects the trader to the appropriate screen to perform these tasks, as part of the opening process.
In addition to opening a live account, IC Markets offers the possibility of having a Demo Account, free of charge and for an unlimited time. It is compatible with all types of platforms and products.
Essentially, it is a trading simulator to test the services of this broker, design new strategies and carry out a period of practice safely in the financial markets without putting real money at risk.
According to the users’ opinions, having this tool available is great and guides the trader in the Forex market or in the world of cryptosystems such as Bitcoin, Bitcoin Cash or Ethereum.
IC Markets is headquartered in Australia and is available to residents of multiple countries around the world: Australia, China, Germany, Hong Kong, India, Ireland, Japan, Malaysia, Netherlands, Singapore, South Africa, United Arab Emirates, United Kingdom, among others.
IC Markets does not accept applications from residents of the USA, Canada, Israel and the Islamic Republic of Iran.
How to Use IC Markets
According to users’ opinions, IC Markets is easy to use as it offers its users direct access to the 3 most popular platforms: MetaTrader 4, MetaTrader 5 and cTrader.
MetaTrader WebTrader is an easy-to-use web-based trading platform that allows you to enjoy trading in a real trading environment from anywhere in the world.
It provides several benefits as it operates very quickly and with the possibility of choosing a leverage that fits the trader’s strategy. In addition, it provides the opportunity to have greater risk control over micro lots and to move money from the trading account without any problems.
Compatible with all major browsers, it is easily operated from anywhere.
IC Markets can offer market leading trading conditions and prices through the MT4 platform by providing clients with real connectivity.
Raw Spread Connectivity allows trading with institutional grade liquidity from the world’s leading investment banks, hedge funds and dark fund liquidity execution venues.
It is undoubtedly the world’s most popular trading platform for currency traders due to its ease of use, feature-rich environment and automated trading capability.
MetaTrader 5‘s advanced charting technology, along with sophisticated order management tools, help monitor and control positions quickly and efficiently.
It is a powerful platform full of new features aimed at improving the trading experience. It is available in both IC Markets account types: Raw Spread and Standard.
The market depth of MetaTrader 5 shows the full range of prices available directly from price providers. This feature provides full transparency of the available liquidity for each currency at any given time.
The cTrader platform combines the speed of a trading platform with the multi-bank pricing of the real IC Markets environment, providing clients with the ultimate trading solution.
IC Markets’ cTrader platform provides access to deep liquidity in 64 currency pairs plus 16 major stock indices. Trading in the IC Markets environment is enhanced by the superior functionality of cTrader, offering the latest in trading solutions.
IC Markets offers both MetaTrader 4 and MetaTrader 5 as well as an application for iPhone and iPad. These applications provide traders with easy access to their accounts wherever they are in a secure environment.
The MetaTrader mobile application uses many of the advanced features of the iPhone and iPad, such as the horizontal to vertical view changer. The MetaTrader mobile app also offers one-click trading, the ability to customize your charts and designs, and advanced analysis.
These MetaTrader mobile applications offer unlimited flexibility without compromising speed or quality of execution. Also available for Android and Mac.
Research and Visualization Tools
IC Markets has a “Help Center” that answers the most common questions a trader would normally ask or consider asking before investing.
According to several opinions, the educational resources are very comprehensive, but the market research options are less so. It has a market analysis blog, a Forex calculator, Economic Calendar and Forex Glossary.
IC Markets Deposits, Withdrawals, Fees and Limits
Deposit Methods and Minimum Deposit
IC Markets offers over 14 flexible financing options in 10 different base currencies. It provides the possibility to deposit instantly and for free using a variety of methods.
In addition to credit and debit cards, this intermediary also has the following deposit methods: Paypal, Neteller, Neteller Vip, Skrill, UnionPay, Bank Transfer, Bpay, FasaPay, Broker to Broker, Poli,Thai Internet Banking, Rapidplay, Klarna, Bitcoin Wallet and Vietnamese Internet Banking.
IC Markets requires a minimum deposit of $200 to open a live account and start trading.
In addition to credit and debit cards, this operator also has the following withdrawal methods: Paypal, Neteller, Neteller Vip, Skrill, UnionPay, Bank Transfer, Bpay, FasaPay, Broker to Broker, Poli,Thai Internet Banking, Rapidplay, Klarna, Bitcoin Wallet and Vietnamese Internet Banking.
Currently, IC Markets has implemented that for faster processing, all traders must submit withdrawal requests from their “Secure Client Area“.
The cut-off time for withdrawal requests is 12:00. If the withdrawal request is sent before this time, it is processed on the day of the request. If the withdrawal is sent after this time, it will be processed on the next business day.
International wire transfers usually take 3-5 business days to reach your bank account.
Rates and Commissions
IC Markets does not charge any additional fees for deposits or withdrawals. However, please note that fees may be incurred on payments to and from some international banking institutions.
For International Wire Transfer withdrawals, the transfer fees charged by IC Markets’ banking institution are approved. International transfer fees are approximately AUD20, this fee is deducted from the withdrawal amount.
Spreads and commissions are very low at 0.0 pips, depending on the account type. This is especially beneficial for traders who trade by scaling and/or using high leverage.
IC Markets has no limits or restrictions on trade size, it is possible to make small trades such as a micro lot (0.01) with no maximum limit.
The flexible lot size allows you to test the platform with minimal risk and manage the size of the trades according to the account balance.
Is IC Markets Safe?
IC Markets is a secure Australian broker that executes thousands of transactions every day. Their clients’ funds are held in segregated accounts at Westpac and National Australia Bank (NAB) to ensure money availability. All of which makes it even more secure.
As we said, IC Markets is a regulated and secure broker. The company is licensed and regulated by the Australian Securities and Investments Commission (ASIC).
In Europe it is regulated by the CySEC (Cyprus Securities and Exchange Commission) through the company IC Markets (EU) Ltd: License number 362/18.
Raw Trading Ltd (Company Number: 8419879-2), operating as IC Markets (SC) is regulated by the Seychelles Financial Services Authority under the Securities Dealer’s License Number: SD018.
IC MARKETS (EU) LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (License No 362/18) with registration number HE356877 and operates through the domain www.icmarkets.eu.
ASIC is the financial services regulator in Australia responsible for ensuring that financial markets in Australia are fair and transparent, supported by informed and confident investors.
ASIC is an independent Commonwealth Government body established under the Australian Securities and Investment Commission (ASIC Act), which carries out most of its work under the Companies Act.
IC Markets has an independent external auditor to ensure compliance with its regulatory obligations and operational processes.
According to some users’ opinions, IC Markets provides a very efficient service, especially in terms of its 24/7 online chat.
In addition to online chat, it provides telephone support with Australian and international phone lines. It is also possible to be contacted via email.
It also offers a space called the “Help Center” where you can find answers to hundreds of frequently asked questions, such as questions related to Bitcoins or other assets,
Unfortunately, no advice is available in Spanish. However, the website is available in multiple languages, including Spanish.
IC Markets’ opinions
Below you will find the opinions of some users who are already trading with IC Markets. These opinions will also help you decide if this is the ideal online intermediary to invest your money.
One of the opinions belongs to David L., who said: “I have been with this broker for 3 years and what I have always loved is that the technical support is excellent, they always solve everything quickly. Besides, I feel safe operating with them”.
Another opinion is that of Helen O. who stated: “All the trading I have done with Bitcoins and Forex was highly profitable. I am very pleased and recommend it.
Among other opinions, Edwin N. said: “The app is excellent, I always solve all the operations instantly and the advice is impeccable. I’ve been operating with Bitcoins for a long time”.
Finally, another of the opinions is that of Samuel S. and highlighted: “The spreads and commissions are unbeatable. It would only improve the telephone service which is somewhat slow”
Alternatives and Competitors of IC Markets
If after reading all the features and reviews about IC Markets you still need to know the reviews about other service options, you can also choose from other brokers. Currently, there are several companies that offer the online broker service.
Here are some reviews from other brokers so you can rate and compare features and opinions:
In conclusion, we can say that IC Markets is a safe and reliable broker, with plenty of options to invest, from Forex to Bitcoins to indices, bonds and stocks.
The volume of operations it handles is very important and, even if the supply of instruments is not the widest in the market, it is still significant. Most users agree that today it is one of the best options to invest without great risk of losing what has been invested.
Among the highlights we can say that IC Markets offers low spreads and offers high speed of order execution. It also has the best platforms that are very popular in the market today.
In general, users have a positive opinion of the services offered by this intermediary. Its deposit and withdrawal policy is efficient, with a wide variety of means to choose from among the most appropriate for the client.
Customer service is highly appreciated by users, especially with regard to their online chat, although no advice is available in Spanish for Spanish-speaking countries.
IC Markets technical and characteristic sheet
|Main Features||IC Markets|
|Countries where it is regulated||20|
|Time to open account||1 day|
|Bank card deposit|
|Deposit with electronic wallet|
|Demo account available?|
|Easy to use platform?|
Frequently Asked Questions about IC Markets
IC Markets is an Australian online broker, mainly dedicated to Forex and CFD, but also offers index and commodity trading, providing trading solutions for day traders and scalpers, as well as for beginner traders.
According to users’ opinions, IC Markets is easy to use. With several popular platforms that facilitate the trader’s task, this broker offers MetaTrader 4, MetaTrader 5, MetaTrader and Metatrader Webtrader, as well as mobile app in a secure environment.
At IC Markets you can sell through the Forex market 24 hours a day, 5 days a week, allowing traders to buy and sell from Sunday night to Friday night and access leverage to speculate on currency flows and world news.
IC Markets is a broker specializing in Forex, but also offers trading in CFDs on 12 indices, as well as metals and oil. For as little as 200 USD, it is possible to access Forex and CFDs on indices, stocks, bonds, futures, commodities and crypto-currencies such as Bitcoin, Bitcoin Cash or Ethereum.
IC Markets is a secure broker because it is regulated and also because it has certain requirements for validation and verification of the identity of its customers. At IC Markets, investors’ money is deposited in segregated accounts, so that the trader’s money is deposited separately. This also makes it very secure.
IC Markets is authorised and regulated by the Australian Securities and Investments Commission (ASIC). In Europe it is regulated by the CySEC (Cyprus Securities and Exchange Commission) through the company IC Markets (EU) Ltd: License number 362/18.