IC Markets | Review | CFD Trading Platform Review

Our Review

IC MARKETS

Find all you need to know about IC MARKETS Trading Platform.

 

Topics

What is the IC MARKETS?

Is the IC MARKETS safe or a scam?

Leverage

Accounts

Fees

Instruments

Deposits and Withdrawals

Trading Platform

Customer Support

Education

Conclusion

 

What is IC market?

IC market is a global forex broker founded in 2007 by Andrew Budzinski. It is one of the most renowned and decent brokers markets regulated by PTY (formerly known as an international capital market). It is an Australian established agency having its headquarters in Sydney but having its vast extension all over Europe, Asia, and North America. It is considered one of Australia's best broker agencies because of its easy usage and unlimited free trial and guides making it suitable for beginners. It deals with CFD related to Forex, commodity training, and index and also trades with cryptocurrencies.

Pros	Cons
Limited trial account	Restricted product selection
Trade with crypto currencies	Foreign  entity
C-Trader, MT4 and MT5 platforms	Regulation dependent trading
simple account opening procedure costumer support 24/7
developed trading ranges

 

 

10 Points Summary

Headquarters	Sydney, Australia
Regulation	FSA,CySec and ASIC
Platforms	MetaTrader 4., MetaTrader 5 and cTrader
Instruments	CFD, Forex , bitcoin trading
EUR/USD Spread	0.1 pips
Demo Account	Available
Minimum deposit	$200
Base currencies	USD, EUR, GBP, AUD and 6 others
Education	Provided, Forex marketing
Customer Support	24/5 -

 

What type of broker is IC market?

IC market is updated with the three most well-known trading platforms. The first is Meta trader 4, the second is Meta trader 5 (upgraded version of mt4), and the last one is c-Trader. Their variety of programs helps the customer choose from their applauded range regarding the type of trade they want to perform.

Awards

best broker of 2020 according to daytrading.com

best trading application 2020 according to daytrading.com

 

Is IC markets safe or a scam?

IC market has been regulated and checked by many authorities for over a decade. It makes the company follow strict rules and regulations imposed by higher authorities, making it a safe place to invest your assets. 

Pros	Cons
Regulation is done by CySec FSA and ASIC	International recommendations are labeled as foreign entity
Separated accounts
Worldwide recognition

 

Is IC market legal?

This Australian based market has been awarded as one of the best broker agencies since it started. Moreover, it is regulated under the strict statutes allotted by higher operating authorities (Australian securities and investment commissions) and others, making it legalized internationally.

Leverage

Leverage allows you to control large sums while investing the least of your funds. The IC market allows you the leverage of 1:1500, which is a good number to start your trade game if you are a beginner or don't want to risk and want to start trade with a low investment.

Maximum leverage of 1:500 is permissible for Australian citizens.

European traders can utilize a maximum of 1:30.

Maximum 1:1500 is used for international clients.

 

Accounts

IC MARKET has three main accounts from which an individual can choose one that suits him the best under his trading needs and then look forward to the procedure of registration.

Pros	Cons
A free demo account is offered	Not such found
Variety in selection for different trading attitudes
Easy procedure to open an account

 

Account types

IC market offers a free demo account for traders with basic guides required to operate it. It has three main accounts

A standard account

A true ECN account

A c trader account

 

All these accounts have minor discrepancies, but all offer the same features and functions. One difference is that true ECN has slower spreads scarcely. You can use a demo account first to practice your skills.  

 

 

Fees

A fee related to the IC market varies to different accounts and trading platforms you use. It is important to go through all of the terms and conditions because they vary in different markets.

Pros	Cons
Does not charge withdrawal fees	Not such found
The commission fee is variable
Does not charge for inactive accounts
Minimum Forex fee

 

Our Find on Forex fees:

As compared to the rest of the markets, it is noted that the IC markets have low forex fees. 

I'm market mostly uses liquidity providers to ensure that your market price and paying rates are almost equal. 

For standard account, using MetaTrader 4 as a platform with spread adds 1pip.

For raw spread accounts using the Meta trader platform, the spreads are much lower. IC markets charge almost AUD $7as their commission. 

For raw spread accounts using C traders as a platform, commission criteria for the IC market are USD 3 per $100k trading.

Comparison of Forex fee with other markets:

Asset	IC market fee	eToro fee	XM fee
EUR USD	1 pips	3pips	1.6 pips
Gold	1 point	45	35
Crude oil WTI	5 pips	5 pips	5pips
Inactivity fee	yes	yes	yes
Deposit fee	no	no	no
Fee ranking	low	high	average

 

Instruments

 

As compared to other markets, the IC market has not fallen short of international standards. It contains more than 80 instruments that include stocks, cryptocurrencies like bitcoin and others, indices-based CFDs future, commodities, and many more. About forex trading, its 90+ assets are in the form of currency pairs for trading purposes. Due to their vast possession, there are many combinations from with a client can select for trading.

 

Deposits and Withdrawals

There are many methods provided by the IC market, providing options to their clients to select from. Payment methods are different on an international scale as compared to others. The most amazing part is that there is no extra tax for cash deposits and withdrawals, but extra charges can be applied internationally.

 

Pros	Cons
No deposit fees	High fee on international level
A huge range of base currencies
No withdrawal fee
Credit card/debit card option is available

 

Deposit Options:

IC comes with more than fourteen different types of options with ten different base currencies related to debit. You can use any of these methods for free:

Credit cards

Debit cards

PayPal

Neteller, skrill, Broker to Broker

Union pay, FasaPay, POLi

 

Bank transfer, a bitcoin wallet, and more

 

What is the Minimum deposit IC market?

As discussed before, for any account related to any platforms you're using, the minimum deposit required is $200 in the account to start your trading business through the IC market.

Withdrawals

Withdrawal methods are as same as the options available in the deposit section. There are no extra charges for domestic transfers, and the amount is transferred on the same working day. There are extra charges for the international scale transfer, and it takes almost five working days for a transaction.

 

Trading Platform

The IC market provides the latest trading forms: meta-trader four and meta trader five, and c-Trader. 

Metatrader 5 is only the latest and improved version of meta trader 4, and there is no such difference between them, but it is upgraded with brand new features.

Pros	Cons
Availability of platforms like MT4 and MT5 and c-trader	proprietary platforms are not available
Its design is user-friendly
Availability in  different languages
Order reports

 

Web Trading Platform

Metatrader web trader:

It is an online web trader platform through which you can perform your work from any part of the world. It is suited for all browsers, and it is straightforward to use.

Desktop Platform

Metatrader 4: 

It is one of the most renowned platforms and is provided by the IC market. It is effortless to use, and a vast range of features, including raw speed connectivity, makes it one of the top-rated platforms.

C trader: 

These trader platforms open up access to more than sixty currency pairs and sixteen major indices stock all related to liquidity makes it an absolute trading finding.

Mobile Platform:

For using IC market in mobile. It is installed with Meta trader 4. It is available in various languages and easy icons, which makes it easy to use. It contains a one-step login, which could be made more secure with 2 step login. It has search options to help you in tracing the product. You can enable the notification options to stay updated.  

 

Customer Support

Customer support in the IC market is available for 24 hours and 5 days a week. They counsel your problems through emails live chats, phone, and other online means.

Pros	Cons
Costumer service in various languages	Not such found
Fast response with live chats

 

 

Education

IC markets provide the following types of educations

Video tutorials related to market

Analytics

Trade-related webinars

Blogs

Informational tools and programs

All of the lessons provided are free of cost.

.

Pros	Cons
Free educational session	Not such found
Unlimited trials

 

Conclusion

If we summarize the whole article, we can say that the IC market is reliable and secure with the international reorganization. The latest platforms and tools support it, and it is effortless and user-friendly. Its significant advantages are its high variation in trading, which gives the customer many choices.

 It is also available on different platforms with easy practice. The Major plus point is it's a free unlimited trial with educational resources to guide you through various trading skills. I hope this article is informational for you and will help you in the future selection of your trading market.