IC Markets Review:  Competitive Spreads And Low Commissions

IC Markets, based in Sydney, Australia, is one of the biggest FX CFD providers in the world by daily trading volume, transacting more than $15 billion in foreign currency via more than 500,000 daily orders. The broker currently accepts clients from more than 140 countries and boasts more than 100,000 active clients. The Cyprus Securities and Exchange Commission, the Australian Securities and Investments Commission, and the Financial Services Authority (St. Vincent and the Grenadines) govern it.

IC Markets: Website

Country of regulation: Cyprus, Australia, Seychelles

Trading fees class: Low

Inactivity fee charged: No

Withdrawal fee amount: $0

Minimum deposit: $200

Time to open an account: 1 day

Demo account provided: Yes

Products offered: Forex, CFD, Crypto

Since 2007, IC Markets has been a recognized broker. Australia, Hong Kong, and Vietnam each house the corporate offices of IC Markets. They are generally suitable for IC Markets to provide its forex and CFD trading services to customers worldwide.

Additionally, the Financial Commission (25.11.2021), CySEC (362/17), ASIC (123 289 109), and SCB (SIA-F214) all regulate this broker. With these licenses, we can conclude that IC Markets is a reputable broker that is safe to deal with and is not a fraud. IC Markets may be the best option for algorithmic traders and scalpers because of its cheap trading expenses, significant leverage, low latency connection, and improved liquidity. Social traders may also use three copy trading services, while novice traders can take advantage of a high-quality training platform and 24/7 customer assistance. IC Markets provides negative balance protection and separates customer assets from company capital.

Top IC Markets Features

• Unusual Trading Conditions: One of the greatest in the business is the emphasis on trade execution. It is understandable why IC Markets is a well-liked location when sophisticated features like different order types, detachable charts, and market depth are paired with low latency execution, high-speed order matching, deep liquidity, and small spreads.
• All Strategies Encourage: Trading on the platform is open to all traders, including those using scalping, hedging, and automated algorithmic trading. Platform customers have access to lightning-quick colocation execution and even virtual private servers (VPS) with the highest level of dependability and security because of the rapid Equinix server support in London and New York.
• Firm Support For A Wide Range Of Securities: The variety of asset classes and more than 230 financial instruments, including less popular products like bonds, futures, and cryptocurrencies, will appeal to investors looking to create diverse portfolios.
• Customer service that is constantly accessible: IC Markets’ customer service is available 24 hours a day, 7 days a week. They can answer users’ questions and help with problems connecting to third-party tools. The customer care staff may also assist various channels in various languages.

IC Markets Account Types

Pricing

IC Markets provides some of the most competitive spreads in the industry. Spreads on the broker’s cTrader Account and Raw Spread Account begin at 0 pips. Spreads on the Standard Account starts at 1 pip. In addition, depending on the account type, commissions are charged by the broker. The fees for the cTrader Raw Spread Account and the Raw Spread Account are $3 and $3.5 per transaction, respectively. The Standard Account does not include any commission fees.

Overall, the broker’s pricing and charge structure are among the finest in the business. Given the narrow raw spreads available in two account types, the spreads provided are pretty tight, and the charges are also very reasonable. In addition, the broker offers leverage of 500:1, which allows account holders to magnify their money. In addition, IC Markets does not impose any fees for deposits or withdrawals. Moreover, there are no costs for inactivity.

IC Markets Compliance & Regulation

Currently, the broker is governed by three organizations: St. Vincent & the Grenadines Financial Services Authority, the Australian Securities and Investments Commission, and the Cyprus Securities and Exchange Commission (CySEC) (SVGFSA). Additionally, IC Markets complies with all international rules pertaining to Counter Financial Terrorism (CFT) and Anti-Money Laundering (AMF).

Furthermore, IC Markets makes sure that all customer money is safeguarded. The broker maintains all customer money in separate accounts to do this. Additionally, all funds are insured thanks to it. Last but not least, the broker has complied with all regulations relating to internal risk management, and enough capital and activities are routinely examined by outside parties to verify complete compliance. The broker is generally well-regulated and emphasizes transparency to guarantee that client interests are always safeguarded.

Security and Reliability

IC Markets offers three different trading platforms. cTrader, MetaTrader 4, and MetaTrader 5 Computers, online browsers, and mobile devices can access each of the three platforms. The broker offers apps for Android and iOS.

The broker’s technologies offer order execution with ultra-low latency. IC Markets’ traders have access to the London and New York Equinix data centers. Both data centers use specialized fiber-optic networks to expedite order processing.

The trading platforms of the broker are dependable and user-friendly. These systems provide integrated spread monitoring, automated trade closures with customized order templates, and ladder trading. The services also offer pricing updates in real time. Throughout our testing, the trading systems performed well.

Over the years, IC Markets has received many accolades in recognition of its outstanding efforts to provide exceptional trading conditions.

• ADVFN International Financial Awards Leading ECN Broker for 2019
• Forex Magnates 2013 Winner of the Award for Best Retail Broker Execution
• 2012 Financial Institution of the Year, Asia-Pacific Financial Investment Association

Customer Service & User Experience

Beyond improved trading conditions, IC Markets provides an exceptional user experience. Alarm managers, correlation metrics, and sentiment maps are examples of broker capabilities. These resources and instruments aid traders in making wiser decisions. The broker focuses on educating users via web TV and video lectures.

The broker educates its customer service agents in trading, third-party integrations, and other topics to give its clients the best support possible. Customer service representatives are accessible around-the-clock to respond to problems and questions promptly.

The customer service team is accessible in multiple languages via phone, email, and web chat. The FAQ section of the broker’s website gives in-depth responses to pertinent questions. It is searchable, allowing users to locate answers quickly.

IC Markets provide a superior client experience. The broker gives user needs a priority. The trading platforms and support provided by the broker are exceptional. IC Markets offers traders great charting tools and efficient transaction execution.

Pros and Cons

Is IC Markets A Worth Broker to Get?

IC Markets is good for discretionary, day, and automatic traders. Institutional investors and advanced traders that desire speedy order execution. The broker encourages its clients to take advantage of market changes and place orders quickly. The broker’s average latency is under 40ms, guaranteeing fast order execution for traders. On the site, scalping, hedging, and high-frequency algorithms are welcome.

Newcomers will also appreciate informational resources and value-added products like AutoTrader and ZuluTrade. Also, the broker provides a variety of products. The broker offers access to cryptocurrencies, foreign currency, commodities, indices, shares, bonds, and futures. Investors may diversify their portfolios more effectively.

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Source: Investing