IC Markets Broker Review

IC Markets also called The International Capital Markets PTY. LTD is a leading Australian forex broker that deals in commodities like forex, futures, and CFDs. You can trade with IC traders confidently thanks to it being under the regulation of Australian Securities and Investments Commission (ASIC). ASIC is one of the strictest regulatory and licensing financial bodies. As a result, traders can feel confident about their trading.

IC Markets has been in existence for over nine years, and is backed by over 50 liquidity providers including JPMorgan Chase, RBS, HSBC, and Natixis. The Client funds of IC Markets are all in segregated bank accounts across Australian banks.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Why trade with IC Markets?

Trading takes place in over 160 countries on six different continents, and there is multi-lingual customer support team ready to guide and advise you. You may also want to trade through IC Markets thanks to the security of the company – there are servers in NY4 and LD5 IBX data centers. It also operates accounts in 10 base currencies.

This forex brokerage firm incorporated in 2007 in Sydney, Australia comprises of a team of professionals in the financial services industry. These professionals are instrumental in the success of Australia’s largest CFD and forex market. IC Markets looks to fill the gap between institutional and retail clients by offering trading solutions previously available to high net worth individuals and investment banks.

IC Markets operates using the True ECN account which provides superior level execution technology, unrivaled liquidity, and lower spreads.

Through IC Markets, you will experience quality trade fills, fast execution as well as excellent customer service.

 

Features of IC Markets

Other than the fact that the IC Markets has the best spreads, you will experience excellent brokerage services thanks to the scalpers, high-volume traders, and robots who go through several markets at once, this forex broker also has the tightest security system that manages the cTrader and the MetaTrader4 platforms. Client data is secured with 256-bit data encryption systems.

It has 0.0 pip spreads, and the starting deposit is $200.

Trading Platforms

  • MetaTrader 4

This is the most popular trading platform worldwide. Its trading software features a user-friendly interface that is easily customizable and with multiple features.

It features a charting functionality as well as an innovative order management tools which ensure quick monitoring of your positions.

The IC Markets MetaTrader 4 True EN Software hosted in the Equinix NY4 data center is a preferable choice for day traders, expert advisors, and scalpers.

  • cTrader

This is an innovative ECN (Electronic Communication Network) platform specific for forex and metals trading. It harnesses ECN speed, advanced functionality and multi-bank liquidity which make this the most powerful, yet user-friendly online trading platform. cTrader gives you an inbuilt depth of VWAP and Market trading.

cTrader is ideal for discretionary day traders thanks to hosting on the Equinix LD5 data center.

  • Forex Account types

At IC Markets, you choose a type of account that fits you best. You can opt for the Standard MetaTrader 4 account that has no commissions, only requiring a minimum spread of 1.0 pip.

The True ECN MetaTrader 4 account has spreads from 0.0 pips.

The cTrader account has spreads as low as -0.3 pips.

All the trading platforms take advantage of IC Market’s ultra-low latency True ECN environment. You get to choose your account depending on your trading strategy. You’ll have access to the customer services team 24 hours a day for five days a week.

  • Demo accounts

It is highly unexpected that you will walk in straight to the site and get trading. You have to understand the architecture of the platform, and for that, you need a demo forex account. The forex demo accounts are available for IC Market’s MetaTrader 4 and cTraders. Through the demo accounts, you get to practice your trading strategy online, and you get familiarized with all the trading platforms.

You can practice placing trades and also test your expert advisor before transitioning to the live trading environment.

  • Index CFD Trading

There is a diverse range of index CFDs that covers indices in the 13 major markets as well as WTI, Brent and Natural Gas. The Index CFDs get traded directly from your MetaTrader4 account. The spreads start from 0.5 pips for the ASX 200 index and 1.0 pips for the FTSE 100 Index CFDs,

  • Commodities trading – Silver and Gold

You can trade silver and gold against the USD and the EUR (XAU/USD, XAG/USD, XAU/EUR, XAG/EUR). There are no requotes, and the execution speeds are ultra-fast. You can trade gold and silver on 1:400 leverage and no dealing desk.

  • Order management

FIX API lets you access the market data and also easily manage orders. The FIX API runs at ultra-high speeds, and it has a low latency execution which makes it the best solution for high-volume traders who are looking for an integrated trading environment as well as access to deep liquidity. If you are a live account holder, you can request a demo through a FIX environment.

  • Multi-Account Management (MAM)

The Multi-account manager by IC Markets combines flexible allocation methods with real-time recording of commission and performance through the user-friendly interface. This MAM software communicates all allocation settings directly with the IC Markets Meta Trader4 server. This means that only one money manager worries about trading through the metateader4 master account as everything else is handled via the MAM software.

Pros

  • Ultra-fast order execution thanks to the location of NY4 and LD5 IBX Equinix Data center in New York and London. These centers offer unrivaled trade execution speeds. It has an ultra-low latency fiber optic that cross-connects to a variety of VPS providers.
  • Client funds are in segregated accounts in Australian banks
  • Multilingual customer support available 24/5
  • There are two trading platforms – MetaTrader4 and cTrader
  • It is safe and regulated by the Australian Securities and Investments Commission (ASIC).
  • There is an IC Markets APP supported on Android and Apple devices.
  • You can make payments and withdrawals through Wire Transfer, Neteller, Maestro, VISA, Mastercard or Delta and you aren’t charged withdrawal and inactivity fees. You only pay a small deposit fee.
  • As an ECN broker, IC Markets offers clients Direct Market Access and straight-through processing.
  • The platforms are easy to use, and you can use the one-click trading option and the placing trailing options. You can use robots.
  • There are bonuses too.

Cons

  • Doesn’t offer fixed spreads
  • There are no guaranteed stop losses
  • No limit orders

Conclusion

IC Markets offers MetaTrader4 and cTrader trading platforms as well as accounts. There are no applicable withdrawal and deposit fees, and there is no inactivity fee. It offers tight variable spreads and allows one-click trades. It has trailing stops, and it offers price alerts. Also, IC Markets allows scalping and hedging as well as the integration and automation of trading. They offer an ECN account and Islamic accounts.

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