IC Markets Overview
Telephone: +61 (0)2 8014 4280
Regulation: ASIC (Australia)
Pairs offered: 56 currency pairs and 4 metals
Minimum Deposit: $200
Spreads From: 0.0 PIPs
Max Leverage: 500:1
Markets: Forex, Indices, Commodities, CFDs
Deposit Options

IC Markets Broker Review

ICMarkets is a fully regulated online brokerage which supports accounts in 10 base currencies, and features fully segregated accounts with Australian banks. Traders can enjoy the cTrader ECN account and the MetaTrader 4 True ECN account. ICMarkets is licensed by the Australian Securities and Investments Commission (ASIC).

Overview/ background

ICMarkets is a leading Forex and CFD trading platform based in Sydney, Australia. It was established in 2007 as the go-to destination for traders who operate within institutional trading and retail trading. IC Markets features a True ECN account with high liquidity, high-tech execution of trades and lower spreads. Traders at ICMarkets have many currency pairs available, including a wide range of day trading options and scalping. This online trading brokerage is fully regulated by ASIC (Australian Securities and Investments Commission) with the following license #335692

 

Account Types

There are 2 basic types of accounts available to traders at ICMarkets: A Live Account and a Demo Account. The standard account has $0.0 commission and spreads from as little as 1.0 pip. It operates on the MT4 platform and the server location is in New York. Traders need to make a starting deposit of $200 and the maximum leverage is 500:1. It is possible to enjoy micro lot trading with some 64 currency pairs +. Other features of the standard account include CFD trading with indices, 1-click trading, CNS VPS cross connect, Islamic Accounts and all trading styles. This trading platform is best suited to discretionary traders. The other trading account type is True ECN. This trading account is $3.50 per lot, with spreads as low as 0.0 pips. It runs on the MT4 platform and the server is located in New York. The starting deposit for this account is also $200 and maximum leverage of 500:1 is available. It also supports micro lot trading and 64+ currency pairs. Index CFD trading, 1-click trading, CNS VPS cross connect and Islamic Accounts are also supported. This trading platform is suitable to EA’s and scalpers.

 

Trading Platform/ software

IC Markets runs on MT4. MetaTrader4 is the world’s leading trading software, and it includes a user-friendly interface and rich features. It is fully customized to your trading environment, and is geared towards optimized trades. MT4 also includes full charting capabilities with a full range of supported management tools. Traders can also utilize the electronic communication network known as cTrader. This is ideal for commodity trading such as gold, silver, platinum and currency pairs trading. IC Markets platform features added functionality, rapid execution of trades and up-to-date pricing. The trading platform also runs an MAM feature. This is the multi-account manager and it assists with performance and commissions. When you run the multi-manager accounts, only trades in the MT4 master account are considered. A user-friendly interface and feature-rich trading is available. Other options include high-speed fix API solutions for high-volume traders. All these features are available on the trading platforms at IC Markets.

 

Deposit options

Funding options are available in 10 unique base currencies. These include GBP, SGD, NZD, JPY, HKD, CHF, AUD, USD, EUR, and CAD. ICMarkets recommends that traders use their home currency to expedite the processing of deposits and withdrawals. The following deposit and withdrawal methods are available: credit cards and debit cards, Skrill, Neteller VIP, wire transfer, bank transfer, local bank transfer, WebMoney, cash deposit in Australia, BPAY, China UnionPay, Neteller, broker to broker transfer, FasaPay, and Qiwi. All client funds are kept in segregated accounts at Westpac Banking Corporation and National Australia Bank (NAB).

 

Markets

The range of available markets at ICMarkets covers the full spectrum. Forex, indices, futures, and commodities are the major markets available to traders.

Forex – currency pairs include a wide range of major, minor and exotic pairs. Spreads can average around 0.1 pips. Popular FX pairs include the USD/JPY, USD/CHF, EUR/USD, GBP/USD, USD/CAD and AUD/USD.

Indices – indices include the AUS200, US30, US 500, UK100, DE 30, HK50, USTC, F 40, Stoxx50, IT 40, JP 225, ES 35, US 2000, China 50 and others. Spreads range from 0.3 to 13 on the above indices.

Futures – futures are CFD trades and they are popular options at ICMarkets. They include ICE dollar index futures, CBOE VIX index futures, Brent crude oil futures, WTI crude oil futures etc.

Commodities – commodities include palladium, platinum, gold and silver, spot energy contracts, sugar, wheat, corn, soybean, and coffee etc. These commodities are easily traded on the MT4 and cTrader trading platform.

 

Bonuses

ICMarkets does not offer any bonuses. It considers itself a true ECN brokerage and does not attempt to lock in your profits by promising bonuses.

 

Customer Support

Traders can reach customer support representatives in several ways. These include email ([email protected]), the postal address in Sydney, New South Wales Australia, and telephone. The Australian telephone number is 130-060-0644, and the general telephone number is +61 (0) 280144280. The fax number is +61 (0) 280722120. Office hours run from Monday through Saturday 7 AM through 9 AM and from Sunday through Friday 10 PM to 10 PM. A Chinese Support Center is also available, including Chinese telephone number and email address support.

 

Safety

ICMarkets keeps all client funds in segregated accounts. These are maintained at Westpac Banking Corporation and National Australia Bank. Further, this brokerage is fully regulated by ASIC to offer Forex and CFD trading on financial instruments. Secure socket layer technology and the highest encryption protocols ensure that the integrity of trader accounts is protected from third-party interception.

 

Ease of Use

this Forex and CFD brokerage goes to great lengths to make it as easy as possible to trade financial instruments online. The layout is user-friendly and you can easily switch between a live account and a demo account. The Forex trading platforms include MT5, MT4, multi-account management, auto trading, Fix API, ZuluTrade and more. The education center is extraordinary and includes a full range of information on CFD trading and Forex trading, video tutorials and more. As for client actions, you can easily find information on funding (deposits and withdrawals) support and downloads.

 

Final Thoughts

ICMarkets is one of the better Forex and CFD brokerages in the land down under. It is fully licensed and regulated to offer real money trading on a wide range of instruments. Customer support is on the money, and there are many ways to get in touch with professional support agents around the clock.

Pros
  • ASIC regulation
  • MT4, MT5 and multi-account management
  • 64+ currency pairs
  • Scalping and Hedging Are Allowed
  • Islamic accounts available
  • Segregated Accounts
  • Demo Account
Cons
  • No Fixed Spreads,
  • No Guaranteed Limit Orders
  • Does Not Guarantee Stop Losses
IC Markets Overview
Telephone: +61 (0)2 8014 4280
Regulation: ASIC (Australia)
Pairs offered: 56 currency pairs and 4 metals
Minimum Deposit: $200
Spreads From: 0.0 PIPs
Max Leverage: 500:1
Markets: Forex, Indices, Commodities, CFDs
Deposit Options
Pros
  • ASIC regulation
  • MT4, MT5 and multi-account management
  • 64+ currency pairs
  • Scalping and Hedging Are Allowed
  • Islamic accounts available
  • Segregated Accounts
  • Demo Account
Cons
  • No Fixed Spreads,
  • No Guaranteed Limit Orders
  • Does Not Guarantee Stop Losses