IC Markets is one of the greatest names in the Forex trading domain; here, cutting-edge technology is with competitive pricing coupled with abundant assets. Being multi-accounted with varieties of platforms and website presence around the world, IC Markets broker caters to beginner as well as professional traders. This article will give an in-depth overview of what this broker offers.
Introduction to IC Markets
IC Markets is a Australia-based forex broker established in 2007 and authorized by the Australian Securities and Investments Commission (ASIC) as well as the Seychelles Financial Services Authority (FSA). With its dual regulatory oversight, IC Markets ensures that it is held to the highest standards of the industry. Customers will gain sufficient comfort, knowing that their funds are secure, when they trade with this reputable forex broker known for its very fast execution times, especially catering well to the high-frequency and algorithmic trader.
Type of Accounts Available
There are three account types available at IC Markets and each serves to accommodate a style or preference in trading:
Standard Account: This is the type of account a beginner and intermediate trader should go for since it gives no commissions and spreads start at 1.0 pip. It also provides access to ample instruments, be it 64 currency pairs, indices, and commodities.
Raw Spread Account: It targets professional traders only. The minimum spread is 0.0 pips, and the commission for 100k is $3.50. Thus, it’s a favorite among scalpers and day traders.
Islamic Account: An Islamic account is designed for those traders adhering to the principles of Islamic finance. It has no interest on overnight positions since it’s an interest-free account.
In addition, IC Markets provides PAMM (Percentage Allocation Management Module) and MAM (Multi-Account Manager) accounts for money managers. These services are intended to be helpful for efficient account management.
Platforms
One of the key advantages of IC Markets is the possibility to use one of three major platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), or cTrader.
MetaTrader 4 & 5: Because of the user-friendly interface, MT4 is popular with customizable charts, while it is rich in EAs. MT5 amplifies all these qualities beyond by introducing advanced charting tools and order types.
cTrader: With the intuitive design, professional tools, advanced charting, and algorithmic trading using cBots, cTrader also supports Level II pricing and gives detailed market depth.
TradingView Integration: A short time ago, IC Markets implemented TradingView, which has powerful charting and backtesting tools with social trading for algorithmic traders.
Products and Markets
Unlike many other online brokers, IC Markets offers its users access to a large variety of financial instruments:
Forex: Trade major, minor, and exotic currency pairs with tight spreads making forex trading the prime focus for IC Markets.
Commodities: The broker allows trading in precious metals such as gold and silver, energy commodities such as oil, and agricultural products such as wheat.
Indices: All the international indices like the S&P 500, Nasdaq, FTSE 100, and Nikkei 225.
Cryptocurrencies: Popular digital currencies, including Bitcoin, Ethereum, and Litecoin, open access to very volatile crypto markets.
Leverage and Trading Costs
Leverage ratio varies according to the jurisdiction served. For European and Australian clients, leverage is capped at 30:1, while international clients, under the Seychelles entity, can access leverage up to 500:1. This makes IC Markets attractive to traders with varying risk appetites.
Another big advantage of this broker is low-cost trading, which starts from 0.0 pips for Raw Spread Account and has no hidden fees on deposit and withdrawal. However, an international bank transfer may require a payment of AUD 20.
Deposits and Withdrawals
The variety of funding and withdrawal methods to deposit and withdraw funds accepted by IC Markets is impressive.
These include;
Credit/Debit Cards; fast and easy, with funds available to trade almost immediately.
Bank Transfers: Accepted, and it takes several business days
E-Wallets: Such as Skrill, Neteller, and PayPal with quick safe transactions.
There are no commission charges by IC Markets for deposits and withdrawals, but any fees that a third-party payment provider may charge must be checked directly with them.
Customer Support
Customer support: ICMARKETS scores high in the customer support department with a live chat, email, and phone 24/7. Their support team is known to respond in no time, and the solution usually has details, making it easier for the traders to quickly solve the problem. This is a feature that is necessary for users who require real-time support during market hours.
Conclusion
IC Markets is one of the most respected brokers, offering a wide variety of products designed to meet every trader’s levels. The strong regulatory framework, numerous platforms, and large asset list make it the perfect choice for any trader venturing into forex and CFDs trading. The tight spreads and high leverage made IC Markets the most competitive company in the industry.
