IC Markets Review [2023 Update]

This IC Markets review has been updated for 2023. In this review, we break down the pros and cons of choosing IC Markets as your broker. 

We have covered several aspects of using IC Markets. These include IC Market’s fees, what they offer, the withdrawal options, and what countries they are available in. We also specify the regulatory bodies that IC Market comes under, among other details.

IC Markets Guide- Read Our In-Depth IC Markets Review

IC Markets is a Forex CFD provider based in Australia. They offer services globally and have several branches. They are a reputable forex broker that was founded in 2006.

They offer multiple trading options for active day traders and scalpers. With good liquidity, they offer pricing options that meet those available to investment banks and individuals of high net worth. 

Finding a good Forex broker online is often a complicated task. Websites often offer extensive services; it may be difficult for you to find one that meets your specific needs. Further, you will have to read through various brokers’ websites, and this can be a tedious task.

findabroker.online makes it easier for you by explaining the pros and cons of IC Markets in an easy to understand format. We also ensure that you know what IC Markets offers and whether this will fit your trading needs and strategy. 

Further, a good broker must be reliable and regulated. We give you an idea of whether IC Markets is regulated and how this affects your trade. It is also important to know that they are regulated, as this will avoid any chances of you losing your invested money.

Read ahead for our comprehensive IC Markets Review and why you may want to opt for them.

Busy Right Now? Download our IC Markets Review for free as a PDF by clicking here

Benefits of Trading with IC Markets

There are several benefits of trading with IC Markets. Read ahead to find out.

• IC Markets offer the lowest possible spreads to their clients. These, along with relationships with reliable liquidity providers, are made available in all market conditions.
• They provide reliable technology settings to execute prompt orders.
• They provide iPhone and Android applications that have been built with the latest trading tools.
• IC Markets allow scalping, hedging, and automated training options.
• They offer flexible leverage options up to 1:500.
• Their raw spread accounts begin from a spread of 0.0 pips.
• They accept deposits in 10 major currencies. 
• Their trading sizes begin from a micro lot with 1000 base currency. This can go up to 200 lots with 25 million base currency. 
• Their customer service team offers all-round service for 24 hours, 7 days a week.
• They are a regulated trading platform and are regulated by the Financial Services Authority of Seychelles (FSA).
• Client funds are held with Australian bank accounts in segregated client trust accounts. These funds are not tampered with and not used for any operational expenses.
• A low minimum deposit of $200.
• They have trading options in Forex, CFD, and cryptocurrency.
• It’s simple to open an account.
• You can deposit currency using debit cards, credit cards, and electronic wallets.
• A demo account is also available.
• The three different trading platforms available offer multiple options for various analysis methods. 
• IC Markets cannot be used by traders from the United States, Zimbabwe, Iran, Iraq, Cuba, Canada, Ghana, Cote D’Ivoire, Togo, Cuba, Niger, and Liberia.
• IC Markets are known enough to have a Wikipedia page. A Wikipedia page adds to the good reputation of this platform. Read more about them on the IC Markets Wikipedia page.

By the end of this IC Markets Review, you will be able to figure out whether IC Markets is the trading platform for you. Further, we decode the trading nuances on IC Markets to show you that it can be interesting and uncomplicated.

What You Should Know About Trading with IC Markets

With IC Markets, you can trade in Forex, CFD, and cryptocurrency and Futures. You will need a minimum deposit of $200 and can trade a minimum quantity of 0.01 lots.

You can open a demo account with IC Markets and practice your trade before you tackle the real deal. You will also have options to auto-trade. It offers three platforms of MetaTrader4, MetaTrader5, and CTrader. They’re each made for specific environments with a range of technical analysis tools made available. For instance, the CTrader is made for Electronic Communication Network (ECN) environments that give traders access to other participants. 

IC Markets provides a 101 series that aims at helping beginners familiarize themselves with trading and technical analysis. This helps beginners break the ice with the trading world. For experienced traders, the platform options add great value.

Is IC Markets Safe to Trade with?

IC Markets is considered one of the safest trading brokers with a good reputation to back them. In 2009, IC Markets received their license and regulation under the Australian Securities & Investments Commission (ASIC). The ASIC has a great reputation and is known as a strict body with good rules in place. Their guidelines and procedures keep IC Markets accountable.

 You cannot trade in Forex without engaging in risk. However, ASIC regulations ensure that your funds are safe and that there is no malpractice involved. In addition to this, IC Markets is also a member of the Financial Ombudsman Service (FOS). This provides additional protection to clients. This is done by laying out clear processes for clients and IC Markets to follow if there are any issues. Clients can raise any queries according to FOS procedures.

Further, IC Markets do not tamper with any of the funds that you have deposited. These are kept in segregated bank accounts so that your money remains safe. 

A demo account will let you get a feel for the platform before you begin actual trading. Through this, you can assess the risk involved in trading on IC Markets and further customize your safety needs.

Pros and Cons of Trading with IC Markets

As with other trading platforms, IC Markets has certain advantages and disadvantages of trading on their platforms. Read ahead to find out. 

IC Markets Review – Regulation and Licensing in More Detail

The Australian Securities and Investment Commission (ASIC) is an independent authorizing body based in Australia. This makes Australia a Tier 1 Country and one of the biggest centers of Forex in the world. The body regulates IC Markets. In addition to this, several other brokers like Alpari, Go Markets, and FP Markets are regulated by this body.

A broker operating under this body must prove their financial sustainability. They should also establish that they have good operational standards and audits. They must also adhere to standards by which a safe trading environment is ensured.

If there are cases of insolvency, the ASIC protects the investors in IC Markets by retrieving and returning their funds. IC Markets, as with other Forex brokers that come under ASIC, comply with the stringent regulations. They are also known to have good security for funds where Australian banks support them.

If you are opting for IC Markets, you may want to take a look at the extensive information that ASIC provides customers of their brokers. This includes information on the financial market and the pros and cons of investing. You can also find guidelines on conducting trade. All of these are free online resources.

In addition to the stringent rules, ASIC offers its brokers options to offer high leverage ratios close to 1:400. Other brokers from the US and even the EU offer much lower leverage ratios.

IC Markets are also a part of the Financial Ombudsman Service (FOS). This is a service that makes solving any consumer complaints easy. The free service provided by them can be used by consumers and businesses to settle any trading and funds-related complaints through FOS. The FOS allows eight weeks for brokers to resolve the complaints of their clients. 

By knowing that IC markets are regulated by ASIC and a part of FOS, you can be assured that they are a safe, regulated body. They derive their stellar reputation from being a part of these bodies that have a great reputation themselves.

IC Markets Awards

IC Markets has some prestigious awards to its name. We have outlined them below. As you compare brokers, let your decision be informed by this. 

• IC Markets won the Broker of the Year Award for 2020. This award was presented by The Daytrading.com in 2020. They won this title because of the large varieties of currencies they offer, their regulatory licenses, and their tight spreads.
• Daytrading.com awarded them the title of the Best Trading App in 2020. They won this because they keep their apps constantly maintained and updated. Further, their cTrader platform is made available to traders anywhere. These are available across IOS and Android. 
• In 2019, they won the ADVFN International Financial Awards for the Best ECN Broker.
• In 2013, they won the Best Forex Retail Broker Execution by Forex Magnates.
• In 2012, they were awarded the Financial Institution of the Year by Asia-Pacific Financial Investment Association.

IC Market Commission and Fees Explained

IC Markets offers one of the most competitive pricing options among Forex brokers. For this, IC Markets does not take any withdrawal fees. Further, no deposit fees are charged. In addition to this, you will not be charged for any inactive accounts. Further, their spreads are one of the lowest in the market for various currencies, making them a great option for you.

Further, the commission rates charged by IC Markets are very competitive. The MT4 platform charges commission per lot. Further, on cTrader, a commission of $3 for 100,000 USD traded is charged. 

For Forex in a raw spread account on MetaTrader, a $3.5 commission is charged per lot per side. If you are using a standard account on MetaTrader, you will be charged no commission per lot per side.

Minimum Deposit

Every trading platform has a minimum amount that needs to be deposited for you to begin trading. In IC Markets, a minimum of $200 needs to be deposited for trading purposes. The minimum deposit is low and the security and opportunities offered by the platform make the deposit worth it.

Most brokers that offer a lower deposit do not simultaneously offer great technical analysis software. IC Markets is designed to serve an audience that is serious with their trading efforts. 

IC Markets Review – Withdrawal Fees explained

To be able to access withdrawals on IC Markets, you will need to, in turn, access their Secure Clients Area. Withdrawal requests placed from within the Secure Clients Area are processed much quicker. Withdrawal requests must be made before 12 AEST/AEDT on a given day. In this case, the request will be processed on the day of the receipt.

While IC Markets do not charge any withdrawal fees, the banking institution that is paying and processing fees may charge you. Further, for international wire transfers, a processing fee of 20 AUD is deducted from the withdrawal amount. This process takes 14 days on average. A few intermediary fees may be charged in the processing route.

Paypal transactions are processed free of charge. Here, no withdrawal or processing charges apply. The same is true for Neteller and Skrill. Hence, as a rule, no withdrawal fees are attracted by IC Markets. Only processing fees will be charged as you withdraw funds. 

IC Markets Review – Inactivity Fees Explained

IC Markets do not charge an inactivity fee. In case you choose not to trade for several days or even a couple of months, your account will not be charged. Further, this even applies to a period of years.

Hence, if you only use IC Markets for a certain type of trading and only occasionally, you will not have to worry about incurring any inactivity fees. However, if you choose not to return to IC Markets, it might be a good idea to contact customer services. Through them, you can close your account and withdraw any pending funds.

IC Markets Review – Deposit Fees Explained

IC Markets does not charge any fees for depositing funds. IC Markets tend to process deposits faster when they are made from the Secure Client Area.

Further, while IC Markets themselves do not charge any fees for depositing funds, the financial institution you used to transfer the money may charge fees. Further, depending on the method of payment, you may incur processing fees.

You need not be worried about the security of your funds. All of your funds will be kept in segregated into Client Trust Accounts in National Australia Bank (NAB) and Westpac Banking Corporation (Westpac). Through this, payments are kept confidential, and your funds are kept safe and secure.

What Can You Trade with IC Markets?

IC markets allow you to trade in versatile ways. You can trade Forex CFD. Here, you can trade 24 hours a day, five hours a week. You can trade in as many as 60 currency pairs. Some of the tightest spreads are offered here. A popular account is the raw spread account.

You can also trade in equity by engaging in CFD indices offered by IC Markets. There are 23 indices on offer and no commissions charged. This can also be conducted 24 hours a day for five days a week.

You can also use a currency pair or Futures CFD and trade products, including energy, agriculture, and metal products. You can trade up to 19 commodities in the commodity trade market.

IC Markets also lets you trade in Stocks CFD. You can trade in more than 120 stocks from ASX, NYSE, and NASDAQ stock exchanges. You can earn dividends here and use the MT5 platform.

In addition to the above, IC Markets also lets you trade in Bonds CFD. Over 6 bonds with deep liquidity are provided for you. There are no commissions taken for the same. In this market, you can speculate on trade. A range of European, American, and Japanese bonds and bonds from the UK are made available for you.

Further, IC Markets will also let you trade in the Futures market. They offer 4 global futures, including the ICE Dollar Index and CBOE VIX Index. No commissions are charged, and IC Markets’ MetaTrader 4 platform is great for this trade.

With the above options, IC Markets is a versatile platform for you as you can use various trading methods.

What Accounts Do IC Markets Offer?

IC Markets offer various accounts with varying features. These are spread across their 3 trading platforms.

The first is the raw spread account, which offers a low spread. A commission of $3.50 is payable per lot per side. This account was designed to benefit scalping traders, day traders, and expert advisors. Traders often use the MetaTrader 4 and 5 platforms when using this account. 

On offer is also the cTrader Account that charges a commission of $3 per lot each side and $6 per lot per round turn. This is also suitable for day traders and scalpers. If you instead opt for a standard account, no commission is charged. This account is suitable for discretionary traders.

For all three accounts, the leverage ratio is quoted at 1:100. All trading styles are allowed in each, and a deposit of $200 has to be made before trading.

Can I Try IC Markets Before I Buy?

Yes, IC Markets let you try their services before you buy from them. All you have to do is open a demo account. IC markets let you open a demo account where you can practice trading in real market scenarios. However, you will use fake currency and won’t require any real funds of your own.

To register, all you will have to enter are details of the country you are trading from, your first and last name, your email ID, and mobile number. Following this, IC Markets will complete a trading account configuration for you. It will take you about 30 seconds to complete.

We recommend that you get a demo account. This is a quick and risk-free way of learning how to trade before beginning. Even if you have traded in Forex before, IC Markets offers more than one platform for trading. You will be able to try these out and pick the best one when you use a demo account.

IC Market Funding and Withdrawal Methods

When you trade with IC Markets, they offer you various funding and trading methods. Read ahead to know more about each.

With funding methods, IC Markets offer 15 funding options in 10 base currencies. You can use your debit or credit cards or PayPal. Options also include Neteller and Neteller VIP. In addition to this, you can use Skrill and Union Pay. All of these above methods will be processed instantly. There is an option of a wire transfer, which takes 2 to 5 business days for processing.  

In addition to this, BPay takes 12 to 48 hours to be processed. This method can only be used with AUD as its base currency. Another instant processing option, FasaPay, accepts only USD as the base currency. There is also Broker to Broker and POLI options, among others.

Similarly, for withdrawal, various options are available. You can fill a withdrawal form from the Secure Client Area for the fastest processing times. 

For withdrawal, you can use credit and debit cards. These are processed free of charge. Further, IC Markets does not charge any withdrawal fees. These will normally be processed in 3 to 5 business days but may, at times, take as much as ten days.

You can also use bank transfer methods to withdraw. These may take up to 14 days and may attract processing fees of 20 AUD. Instant and free transactions, while withdrawal is also possible. For this, you can use PayPal, Neteller, or Skrill.

You can also use Webmoney, FasaPay, or Bpay transactions, among others. Hence, IC Markets makes withdrawals and deposits easy for you by giving you myriad options to complete the same. 

How Can I Start Trading with IC Markets?

Before you begin trading, we highly recommend that you get a free demo account and practice. Once you are satisfied, you will have to open a live account with IC Markets.

You will first have to fill in personal details like your name, email, phone, and country of residence. Following this, you will have to figure out whether you want an individual, joint or corporate account. For individual and joint accounts, you can enter your date of birth and address.

Following this, there will a trading account configuration. In the next step, you will have to provide a declaration. The final step is the funding step. Here, you will have to deposit a minimum of $200 but can deposit more. Now, you can start trading with IC Markets. 

Their three trading platforms should make trading interesting for you. You can complete the registration process in as little as three minutes. 

Performing Trades with IC Markets

While trading with IC Markets, you have to keep in mind that they offer several trading platforms to users. These include variations of MetaTrader and cTrader.

The MetaTrader 4 platform is the most popular platform and offers automated trading to its clients. Both raw spread and IC Markets Standard accounts are available on MetaTrader 4. It also has fast order executions, and no limits are placed on trading.  

MetaTrader 5 is an updated and improved version of MetaTrader 4. With this, you can trade in Forex, stocks, indices, bonds, cryptocurrencies, and commodities. This is also available in raw pricing, and IC Market Standard accounts options. 

These two platforms are also available across devices as MT WebTrader, MT iPhone/iPad Trader, MT Android, and MT Mac traders.

In addition to the above, IC Markets also offer cTrader. This platform is a high-speed performer that gives you access to 64 currency pairs and lets you tap into the liquidity of IC Markets. Through cTrader, there are no restrictions placed on trading. Even scalping is allowed. Further, even several orders, including Stop Loss, can be placed very close to the market price.

cTrader is also available for the web, iPhone/iPad, and Android. You can even trade against the market if you like, with no intervention.

IC Market’s Leverage and IC Market’s CFD Explained

CFDs refer to Contracts for Differences that are largely different from the traditional equities purchased. You can work with CFDs through bids by assessing bid and ask prices. Bids refer to prices at which sell in the market. Similarly, an asking price refers to the price at which you can buy at the market. You can use these prices to sell and buy in the market and pocket the difference.

In IC Markets, CFDs are offered on their MetaTrader 4 and MetaTrader 5 Markets. There will be Index Tracking CFDs, where IC Markets let you profit from underlying fluctuations in the index. Foreign Exchange CFDs or Forex CFDs work by letting you own the value of currencies without owning them physically. Using this, you can trade about 65 currency pairs in IC Markets.

Commodity and Bond CFDs are also offered, and IC Markets give you the right tools to trade in each. Bond CFDs include European Bonds and bonds from the US and Japanese government treasuries. Here, leveraging capacity is 1:200.

IC Markets also offer cryptocurrency CFDs. Here, leveraging capability is at 1:5. Finally, they offer share CFDs, where you gain exposure to multiple stocks. You can trade with companies like Apple and Facebook and make use of IC Markets’ MetaTrader 5 platform. 

Leverage and CFDs at IC Markets

CFDs more on a margin amount that is needed to occupy a certain position in the market. With IC Markets, margins are set at rates as low as 0.5% on the global stock indices. This can be leveraged so that you trade amounts much higher than you normally can. Leverage of $100 would mean that for every $1 that you possess, you can control $100 in the market. 

Essentially, leverage would mean being able to control huge sums of money with only a small sum of your funds in use. In the Forex market, you can achieve large leverage that is relatively more than the one in other markets. Leverage of 500:1 or more is possible in the Forex market.

Further, leverage does not mean that you are borrowing any money from the broker. It simply means that you control the funds in the market. While IC markets do offer good leveraging capacity, they also advise you to use leverage carefully. This is because handling huge sums of money can be a tricky business. 

In IC Markets, for every $1 of your funds, you will receive $500 to trade with. The $500 represents a line of credit that is extended by IC Markets to you for trading. 

Limiting Your Risk When Trading with IC Markets’ Negative Balance Protection

While several brokers offer negative balance protection, IC Markets does not offer any. If you have a negative balance by any chance, IC Markets recommends that you contact customer support immediately.

Hence, we suggest that if you want negative balance protection, IC Markets is not your best option. 

Limiting Your Risk When Trading with IC Markets by using Stop Loss and IC Markets Stop Limit Orders

IC Markets provides you with a lot of execution order options for Forex. These include forex stops, limits, and orders. Depending on your position in the market, you can choose to sell or buy orders of different varieties.

Here, a stop buy order will let you buy above the current market price. A limit sell order will sell the order above the market price. A market order will let you buy or sell the order at the current market price. A limit buy will let you buy an order below the current market price. The final stop sell order will let you sell order below the market price.

IC Markets also executes take profit orders.

IC Markets can let you reduce risks as much as possible while executing orders. This is done by allowing you to set limits as close to the market price as possible. By doing this, any loss can substantially be reduced. 

Education Resources at IC Markets

IC Markets provide a large array of resources for learning and education. Their Demo account lets beginners practice and learn on the go. 

In addition to this, they offer various resources like blogs that let traders learn the intricacies of trading. Through this, you will learn the basics of the Forex market and various trading strategies. You will learn the nuances of the forex market. In addition to this, the IC Market’s resources will let you learn various fundamental and technical analysis methods to forecast market conditions. This will let you trade better.

IC Markets also teaches you the advantages of Forex trading and CFDs trading. They are also providing interactive education through their video tutorials. Through this, video tutorials on diverse topics are posted. These include how-to videos that including trading on the Meta Trader 4 platform. This will let you learn how to use the market watch, navigator, trade terminal, and you will also learn to place several orders. 

Videos include instructions on how to download the MetaTrader 4 platform, how to login to the MT4 platform, and the ways in which you can get it verified. They also include ways in which to upload a credit or debit card in your secure client area, log into cTrader, and videos on using the market watch area. 

They also have a 10 step educational guide using which you can familiarize yourself with various market conditions across the market. This also includes tutorials on technical analysis. This also includes tutorials on Metals Trading. 

Fundamental Analysis at IC Markets

From the above educational resources, you know that for various kinds of trading in IC Markets, Fundamental Analysis may be key. Fundamental Analysis tracks economic and political events in the world to produce a specific pattern. This will then guide any fluctuations in the market.

For instance, the government of any base currency economy may decide to increase the interest rates in that economy. This will have a simultaneous effect on the market. Hence, there may be significant fluctuations in a currency pair. For traders in long-term Fundamental Analysis, it may be important to take a look at these large-scale fluctuations. Through this, they can decide to either go short or long on their specific currency pair. 

IC Markets’ economic calendar is a great way to keep track of these events and supplement your Fundamental Analysis.

Technical Analysis at IC Markets

The IC Markets page on Technical Analysis releases a Technical Outlook and Review of trading days. They first outline the key risk events on that particular day. These may include items like crude oil inventories. In addition to this, they analyze the EUR/USD, GBP/USD, AUD/USD, and other currency pairs.

In these, they look for bearish and bullish momentum to guide you. Any price trend resistance will also be described and discussed. They conduct further detailed analysis to note any substantial technical changes in the week. Through this, you can get an overview of the market and complete any buying or selling trades. 

Servers Offered by IC Markets

One of the most popular servers offered by IC Markets is the Virtual Private Server. Using this server, traders can undertake automated trading options. This means that traders can take advantage of automated trading strategies 24 hours a day, 7 days a week. All of this is made possible with the fastest connectivity to the servers of IC Markets.

Further, servers of IC Markets for MetaTrader 4 and cTrader are located in the NY4 and LD5 IBX Equinix data centers in London and New York City. These sophisticated servers offer some of the fastest connectivity solutions. The Equinix data centers are considered as one of the most reliable data centers in the world. Hence, by using these centers, IC Markets remain a great and prompt option for you.

Social Trading with IC Markets

Social trading is a great way to track other traders across the market and evaluate your relative performance. IC Markets enable this for you through ZuluTrade. Here, you can access several thousand traders from about 192 countries around the world. Trading signals through this are displayed for free in your account. 

Zulu uses its Zulu ranking algorithm to analyze the ability, performance, and strength of various signals. It will also use the minimum equity required to arrive at the rank. You can also take advantage of their simulation tool, which lets you test the probable loss and profits on your account. This is done before you go live and trade. Your trading strategies can be fine-tuned based on this.

Zulu can be used on Android, iPhone, iPad, and Windows phones, among other options.

Advanced Trading Tools on IC Markets

Several trading tools are offered on the competitive, well-connected platforms on IC Markets. These include the Alarm Manager, which will notify the trader about platform alarms. The notification can also be extended to your followers on social media.

Another tool is the correlation matrix, which will provide you information with different time scales. This will let you judge the market and hence, make better trading decisions. There also exists the correlation trader, which lets you compare two symbols and trade accordingly, largely based on the difference.

Also on offer is the trading terminal, which offers you a template for trading. You will also have access to the mini terminal, which will give you specific deals according to specific trading charts. An interesting tool is the sentiment trader. Through this tool, you will be able to map the general sentiment of the market. This is done by mapping traders who have gone long and those who are short during any given period.

You will also find Excel RTD. Through this, the app will let you register five account numbers and display equity and balance on your dashboard. Another tool called the stealth orders will let you hide any pending orders from other participants. 

There are several other trading tools available on IC Markets. By using this, you will be able to enhance your trade. In addition to this, you will also be able to gauge the general condition of the market in interesting ways.

IC Markets Spreads

IC Markets offers one of the lowest spreads in the market across all currency pairs. They offer an average EUR/USD spread of 0.1 Pips. These spreads are available on MetaTrader 4, MetaTrader 5, and cTrader. 

These spreads are available to you across platforms because IC Markets have varied liquidity providers. They have about 25 liquidity providers across platforms. On MetaTrader and cTrader Raw Spread platforms, spreads of 0.0 Pips are also made available.

These spreads are available across Forex, commodities, Indices, Metals, Bonds, and Cryptocurrency. You have to incur the commissions charged by IC Markets while trading in these low spreads.

Customer Support at IC Markets

No IC Markets Review would be complete without full analysis of their customer service. IC Markets has extensive customer service options for its clients. They have a dedicated Help Center for all your trading, funds, and platform queries. The first offer a knowledge base on the website that features a Frequently Asked Questions (FAQ) area. This area answers questions across trading types.

You can find questions about IC Markets themselves. These include questions along the lines of who the owners of IC Markets are and when it was established. There’s a section dedicated to questions about trading. Here, questions regarding the leverage offered by IC Markets, the trading hours for gold and silver, and the number of currency pairs IC Markets has been outlined.

There is a section that tackles queries about the Forex market itself. These include questions on what the Forex market is, profit and loss in these markets, exchange rates, and whether trading is expensive.

While using IC Brokers’ platforms, several issues may crop up. Hence, the section on understanding MetaTrader4 and the problems that may crop up when you use this platform. Questions include things like how the time on the charts can be changed, where information on swap rates can be found, and how you can log into your demo account.

The next section has questions on how to understand the trading platform. This will let you in on how to log into a trading platform on IC Markets and whether you will lose more than your account balance when you trade in CFDs. These will also include questions on what options are available to you if you have a negative account balance. 

A section is also dedicated to questions about trading Forex CFDs online. This includes questions on what spreads mean, the fees and commissions for trading with IC Markets, and the margin level call.

A further section on account application lets you know answers to account-related queries. You will find out why your documents have not been approved, how to open a joint account, and which countries clients are not accepted from.

The section on the client area is especially informative. Here, questions regarding how additional live and demo accounts can be opened and how funds can be transferred between accounts can be answered. Further, you may want to know how long it takes to withdraw funds from your trading account and whether they offer instant withdrawals. This section will let you know these.

In addition to the FAQ questions, several other customer care options are made available to you. 

Live Chat at IC Markets

IC Markets offers Live Chat customer care for its clients. This is offered seven days, 24 hours a week.

The live chat can be launched from the company website. You can get live chat services here.

Phone Support at IC Markets

IC Markets offers phone support to its clients around the clock.  You can call support or the various toll-free numbers available on IC Markets’ website.

Email Support at IC Markets

IC Markets provides email support to its clients through various channels. The website provides the relevant email IDs. We have also outlined them for you here.

Client Relations: rm@icmarkets.com

Support: enquiries@icmarkets.com

Accounts: accounts@icmarkets.com

Marketing: marketing@icmarkets.com

IB/Partners: partners@icmarkets.com

What Will You Need to Open an Account with IC Markets?

You can open live accounts with IC Markets to begin trading with them. This will first require registration. You will have to fill in your personal details and details, including address and country of residence. Your phone number is also necessary. It is necessary to provide proof of identity.

To open a live trading account, both proof of identity and proof of address is necessary. This is required under the Australian Anti-Money Laundering Act and the Counter-Terrorism Financing Act.

The following specifications are necessary under IC Markets for identity and address proof. The photo ID you provide must be visible and clear and must be issued by a government agency; in addition to this, the name, signature, and expiry date of the ID and your date of birth must be mentioned and clear.

Further, the proof of address should not be older than three months and should show the same address as you have fed into your account application. The anti-laundering policy of IC Markets may have several other specifications. 

IC Markets Partnerships

As a partnership program, IC markets offers various options for you. IC Markets offers an Introducing Broker (IB) program. Through this program, anyone who introduces customers to IC Markets is remunerated and rewarded. To avail of the benefits of this program, there are no limits to the number of accounts referred to.

IC markets also have a Money Manager Program that combines prices in the market with flexible MAM/PAMM allocations. Through this, IC Markets customizes trading conditions for its clients. Through this program, one can become a money manager and charge clients accordingly.

There also exist White Label Partnerships. This partnership lets brokers and start-ups collaborate with IC Markets and hence, enhance their business. The Affiliate program offers further partnership options to brokers.

Knowledge about partnerships is necessary largely for brokers. However, you may benefit from knowing this. Through this, you can choose to explore brokers that offer services you may want to look at. In this case, you will benefit by knowing that the broker is affiliated with IC Markets. 

How to Trade on IC Markets Explained

Once you have a live account with IC Markets, you can begin trading on their platform. This will first require you to be able to successfully navigate the IC Markets platform. 

To be able to have access to the IC Markets Dashboard, you will first have to log in to the secure client’s area. This will allow you to see the trading screen. 

Dashboard

As you enter one of the trading platforms of IC Markets like MetaTrader 4, you will see an interface with multiple charts. On the left-hand side, you will find a scroll-down menu on which you will find multiple currency pairs and their values. You will also see commodities and indices. You can right-click on each to see a drop-down menu. 

Here, you will find multiple market options that let you trade with MetaTrader 4. You will also find a variety of crypto markets under the cryptocurrencies. Also available are energy markets. As you pick your market, on the upper left-hand side, you will see the spreads in red.  

Trading is fairly simple and can be done with a single click. You can right-click on the chart to the left and select one-click trading as an option. When you do this, a window pops up with the terms. You can accept the terms here and continue. You can left-click on the price lines here and set your stop-loss orders. Other orders can be executed in similar ways.

If you hover over the specific lines, it will give you estimates as to the profit and loss of each point on the chart. There is also a signals option. By using this, you can follow other traders. On the dashboard are also popular indicators like the moving average. There are also oscillators like the relative strength index and the stochastic oscillator. Tabs also include ones like account history, account information, and alerts. 

The Mobile Trading App

IC Markets also has a mobile trading app using which users can trade. On the home screen, you can see multiple currencies displayed in addition to their spreads. By clicking the plus button on the screen, you will be able to see other trading options. These include Energies, Bond CFDs, Indices CFDs, and Metals. 

Now, if you pick a currency pair, you can see the chart for that currency pair. You can drag the screen to focus on various parts. You can also expand on the chart prices. On the charts, you can select various time frames. These will include one-minute, five-minute, and ten-minute charts, among others.

On the extreme right of the screen, there is a plus button. You can click on this to look for various trading opportunities. You can choose a particular order and buy it if you’d like to execute the trade. You can also modify your orders if you’d like to change anything in a previous order.

By using these specific platforms and apps, you can begin trading and understand the dashboard on MetaTrader 4. 

In Forex trading, charts are an important aspect of learning to trade and trading. 

Chart Types

There are various types of charts offered on IC Markets. 

• IC Markets offers a line chart. This is a simple price line that connects one closing price to the next. You can use this to ascertain the general direction in which the price is moving.
• They also have a bar chart with open, high, low, and close, which is a little complex. The time frame and the open, high, low, and close positions are defined. In this kind of chart, IC Markets will also let you zoom in to watch the charts up close.
• The Candlestick Chart is also offered by IC Markets. This chart is largely used by Forex Traders. In candlestick charts, bars have colored bodies. This makes visualizing price fluctuations easier than with other charts. Candlestick charts can also track bearish and bullish momentum in detail. 

Charting Tools

There are 20 available advanced trading tools on IC Markets. These including execution and management tools. One of these tools is the Tick Chart Trader tool. This displays various tick charts, line charts, time ticked charts, and tick bars and candles to make trading easier for you.

Indicators like the Chart-in-Chart indicator, the Chart Group indicator, and the mini chart indicators re also made available.

Charting Studies

These are made available on IC markets through the technical analysis tools and services that they provide traders with. Here, they track the time frame of the chart you are trading. This will be able to tell you about the strength and the significance of your trade. 

It will determine how long you will be in the trade and guide any stop loss or profit orders that you put in place. The technical analysis that is done for a daily chart does not remain within the day. The trade instead often extends to days on end. For instance, a trade done using a 5-minute IC Market Chart may extend to become an intraday trade in the market.

Further, bar and candlestick charts can be studied to be able to tell who or what factors will control the market in the future. 

Stats and Reports

These are especially required if you are a trader who prefers using Fundamental Analysis. In this case, the various macroeconomic conditions will affect and influence your trade. As a trading platform, IC Markets recommends several reports that assist trade.

These include the US Employment Report. This may be especially beneficial for traders trading in US currency pairs. The report is a great indicator of consumer inflation in the market. The monthly non-farm employment statistic is also worth looking at. Further, pay attention to the statistics that describe the unemployment rate, average earnings per hour, and the participation rate of the labor force.

When you are using Fundamental Analysis, you can also use these indicators from the market to be able to make key decisions. These may include deciding when to step away from the trade, when to postpone trade, and when to carry on complete trading. When you foresee an economic downtrend, you can choose to minimize your losses by buying or selling at appropriate market prices.

These statistics can be used alongside the Technical Analysis charting tools described above. Together, they make a formidable pair and can assist you in executing great trades and reduce risk. 

IC Markets Review – News Feeds

At IC Markets, the team believes that keeping abreast of economic news can do wonders for your trading. This is especially true if you engage in Fundamental Analysis and may be helpful even if you want to engage in technical analysis. 

IC Markets provides varying news resources on its blog. It also emphasizes on the importance of the economic calendar in trading. Through this, it keeps abreast of any price-action news. This tracks how any economic news affects price movement and often in large ways.

Further, the data on the economic calendar, like those found in Forex Factory, highlight dates and times of economic events. You want to be sensitive to the time zone as you look at the calendar. The calendar will also let you know of the currency that the news event will affect the most. Details on how this new currency will be affected are also outlined on these calendars. 

Histograms and other charts based on the economic calendar will be able to forecast the market conditions shortly. Using this, you can carry out your trades.

IC Markets also has an information hub where it gathers all relevant news. This hub is designed for traders who take trading seriously. Here, the first offer company news, which includes trading and institutional news from across the world. These are aligned in the form of a calendar. Here, they have daily, weekly, monthly and yearly events described for your convenience.  

Is IC Markets a Good Broker?

Above this, we have outlined the various ways in which IC Markets conducts its operations. Through this, we know that IC Markets is a good broker. This is especially so because they provide three trading platforms to deal with about 64 currencies. In addition to this, they offer low spreads and superior liquidity.

Further, IC Markets charge no withdrawal or deposit funds. They also have several methods through which you can process your funds. Also, this broker lets you place your limit orders very close to market price and leverage at 1:500.

What makes IC Markets a good broker is also the fact that they are ASIC certified. ASIC is a rather stringent body whose regulations keep any funds that you deposit in IC Markets safe. This is done by keeping your funds in segregated bank accounts where they cannot be used for any organization purposes. 

IC Markets also has great educational value, and the information it provides beginners is specific and helpful. For any arising issues, you can access support services through live chat online, calls, or even email. The choice is yours.

With technologically strong and varied trading platforms, trading from anywhere is an easy task with IC Markets. We do recommend them to traders. 

IC Markets Review – Islamic Trading Accounts

IC Brokers also offers those from the Islamic faith an Islamic trading account. These are also known as swap-free accounts. This is specifically for clients whose religious beliefs prevent them from earning or paying interest. This option is available for both raw spread and standard accounts. This is also available on the MT4, MT5, and cTrader platforms. Through this, IC Markets’ traders are given a competitive edge. 

You can trade currencies, metals, indices, exotic currency pairs, and natural gas. However, the IC Markets’ raw spread and standard accounts commissions are still applicable. On Friday night, these accounts attract triple charges.

IC Markets Review – Multiple Trading Accounts

With IC Markets, you can get multiple trading accounts. You can do this by getting a secure client’s area account. This will let you segregate your funds and take part in various trades. You can also have joint accounts to your name.

IC Markets Risk Disclaimer 

While IC Markets aims to reduce any external risks involved in trading, the markets themselves pose many risks. In trading, risks are inevitable, and IC Markets provide a disclaimer to let you know this. 

They suggest that trading foreign exchange is a high-risk trade and that all investors may not be able to navigate this complex world. They ask a trader to calculate the goals of their investment before trading. Further, the degree to which they appreciate risk and the level of experience that they have also counted. This is especially so when they choose to leverage their trade.

Despite the educational resources on IC Markets, they suggest that speaking to your financial advisor before you begin trading. The following disclaimers should also be noted before trading. These include the National Futures Association (NFA) disclaimer, the U.S Commodities Futures Trading Commission (CFTC), the U.S. Government Required Disclaimer, and the IC Markets disclaimer.

IC Markets and their website is only an informational source. They are not aimed at any solicitation of Forex trade. The reliability and completeness of the data they provide are also not guaranteed. Further, they write that trading results vary across time for the same trader. If you used specific strategies in specific market conditions to earn a profit, the same might not repeat. In this case, IC Markets is not responsible for any discrepancy.

IC Markets are also law-abiding and do not provide their services in countries where such trade is illegal. However, it is not IC Markets’ responsibility to ascertain this. The visitors and clients of the platform have to abide by local law themselves.

Finally, as you use IC Markets, you may come across several third-party links. These are not under IC Markets, and their risks and privacy regulations may be very different. IC Markets will not hold themselves responsible for any of these discrepancies.

With these risks in mind, you can begin trading on IC Markets.

Frequently Asked Questions (FAQs) About IC Markets

Can I try IC Markets before I buy it?

Yes, you can try IC Markets before you buy them. They offer a demo account for anyone who wants to make sense of the platform and understand how it works. 

These demo accounts are similar to live accounts. However, they only serve the purpose of familiarizing you with the platform. It is there so that you can educate yourself. Further, the demo account may perform differently from a live account.

What Funding Methods Does IC Markets Accept?

You can deposit funds in IC Markets using various methods. You can use your debit or credit card or PayPal. These offer instant transactions, and no deposit fees are charged by IC Markets. Further, wire transfers with a processing fee of about 20 AUD are allowed. You can also use Neteller, UnionPay, Bpay, Skrill, or Poli. 

Is IC Markets Safe?

IC Markets is regulated by ASIC and the Financial Services Authority of Seychelles (FSA). Yet, you should keep in mind that Forex trading takes place in a complex, fluctuating environment, and it is good to be cautious despite the stringent regulatory bodies.

Is IC Market’s Trading Good?

With three trading platforms, the MetaTrader 4, MetaTrader 5, and cTrader, IC Markets offers trading options across appliances. The technology is great, and in Forex CFDs, you can trade in about 64 currencies. Deposits can be funded in about ten base currencies. In addition to this, their technical analysis tools make trading a good experience.

What is the minimum deposit for trading with IC Markets?

Depending on the currency that you are depositing, a minimum deposit of $200 is necessary for trading with IC Markets. This may seem like a large sum but comes with the security and tools offered by IC Markets.

How long do IC Markets take for withdrawals?

If you submit a request for withdrawal on the IC Markets Secure Client Area before noon midday AEST, your request will be processed on the same day. If it exceeds the time specification, it will be processed the next day. Portals like Skrill and Neteller allow for instant transactions. Debit and credit cards do the same. It may take a few business days with other portals. 

Is IC Markets a market leader?

Yes. IC Markets is a market leader. Their AFS license allows them to access non-bank pricing by streaming prices from their liquidity provides. Through this, they do not remain a broker, a product issuer. As a market leader, IC Markets maintains a dealing desk that lets them create their prices.

How can I start trading with IC Markets?

You can begin trading with IC Markets by registering with them and depositing $200 or in any other currency. For this, you will need to create an account with them. You will also have to provide proof of address and proof of identity to begin trading with IC Markets.

Is my money safe with IC Markets?

Yes, your money is safe with IC Markets. According to ASIC regulations, IC Markets keeps all of your deposited money in segregated bank accounts. These accounts are overseen by the ASIC. Hence, your money is not tampered with, and IC Markets keeps your funds safe.

Is IC Markets a con/scam?

No. IC Markets is not a con or a scam. It is regulated by the ASIC, and the broker has to adhere to their regulations. It is also licensed by the FSA. Hence, IC Markets is a legit broker and not a scam.

Can you make money with IC Markets?

Through IC Markets, several traders make a lot of money. However, on average, through consistent trading, you can make about 2% a month. This may seem like a small number, but over the year, this adds to a substantial amount of gains. While IC Markets provide you all the tools to make money, they cannot guarantee that you will profit.

Does IC Market have fees? 

Yes. To begin trading with IC Market, you need to deposit $200. Certain commissions while trading also applies. However, IC Markets will not charge you any withdrawal or deposit fees. Any processing fees will have to be incurred by you.

When was IC Markets founded? 

IC Markets was founded in 2007 in Sydney, Australia. In 2009, this Forex broker received an Australian Financial Services License from ASIC. 

Where is the headquarters of IC Markets?

IC Markets is an online brokerage portal whose headquarters is in Sydney, Australia. It is owned by International Capital Markets PTY, with its premises on Kent Street in Sydney.

Does IC Markets offer negative balance protection?

No. IC Markets does not offer negative balance protection. If your balance is negative, IC Markets suggests that you promptly contact customer services. With this, you can correct any imbalances in your account. 

Does IC Broker offer guaranteed Stop Loss order?

Yes, IC Markets offer a guaranteed Stop Loss order. If there is no free margin left with the client, IC Markets will stop out of your positions. If the losses in the stopped out position exceeds your account balance, you may experience a negative account balance.

Do IC Markets allow Scalping?

Yes, IC Markets do allow scalping. Several traders across the world choose IC Markets for their scalping services. The MetaTrader 4 and MetaTrader 5 platforms offered by IC Markets allow this.

Does IC Markets allow Hedging?

Yes, IC Markets allow hedging. Through IC Markets, you can reduce and manage your risk through financial hedging, hedging strategies, and the foreign exchange spot market.

Does IC Markets offer CFD trading? 

Yes, IC Markets does offer CFD training. This is offered across various CFD trading types. With CFDs, traders can use Forex CFDs and Indices CFDs. Many people choose CFDs to as it is a highly speculative market where you can speculate both rising and falling prices. 

Does IC Markets offer STP? 

In the market, when the trade is processed, there will be no trading desk intervention when the trade is processed. This is known as STP. Hence, IC Markets does offer STP and is an issuer of the product it provides.

Is IC Markets an ECN broker?

Yes, IC Markets is a true ECN broker. This means that IC markets use Electronic Communication Networks (ECN). This means that IC Markets is a forex financial expert and uses electronic communication. Through this, participants get direct access to each other in a networked platform.

Does IC Markets offer Islamic Accounts?

If you are of Islamic faith, IC Markets offers Islamic trading options. Through this, you can pick a raw pricing trading accounts. However, no interest fees will be credited or debited. Through this, you can trade over 90 trading instruments with a 1:500 leverage.

What can I do if my IC Markets account is hacked?

If your IC Markets account is hacked, the broker will provide relevant support and you should contact IC Markets Customer Services immediately. The first step, however, is to immediately change the relevant passwords for the account. When you get an account, make sure to save your passwords in a secure place so that it cannot be stolen. Following this, contact IC Markets, who will take prompt attention.

Does IC Markets offer education & Trader Resources?

IC Markets does offer educational resources. They also have a blog that allows new and seasoned traders to learn the best tricks of the trade. 

Summary

IC Markets is a great broker for all your Forex needs. It allows various possibilities in trading. In Forex, IC Markets offers about 64 currency pairs. Based in Australia, IC Markets is considered a safe broker as they are a regulated agency. They are regulated by the Financial Services Authority of Seychelles (FSA). They offer leverage of 1:500, and you can trade up to 200 lots with them.

To begin trading with IC Markets, you will have to deposit $200. However, we recommend that you first get a demo account and figure out whether or not you would like to trade with them. The demo account will give you a feel for the real deal. In this way, you will be able to make an informed choice. 

IC Markets have various platforms for all your trading needs. Even scalping ad hedging is allowed on these platforms. These include the MetaTrader 4, MetaTrader 5, and cTrader, all of which have their specific advantages. With cTrader, you can remain mobile and trade anywhere. 

IC Markets is also very safe to trade with. In addition to the regulations, they also hold your funds in segregated bank accounts in Australian banks. This means that your money is not used by them for any institutional operations.

Further, you can deposit and withdraw funds using various methods. These may include credit and debit cards, bank transfers, and other platforms like PayPal. Further, no deposit or withdrawal fees are charged.

A Final Note 

Do note, however, that once you begin trading, a commission of about $3 per lot will be charged. This will also depend on whether you have a raw account or a standard one. For those from the Islamic faith, you will not be able to claim or pay interest. Special Islamic accounts have been set up for these considerations. 

The platform has several advantages. Some of these are low spreads and deep liquidity. The liquidity is kept deep by engaging multiple sources. Further, the platform lets you trade with various cryptocurrencies. They also offer bonds and commodities to trade. 

Further, with IC Markets, you can leverage your funds at a ratio higher than many other platforms. Yet, IC Markets provide a disclaimer suggesting that trading with large sums is a difficult task, and there are many risks involved in the same. IC Markets is also not responsible for market conditions. Previous results may not have to match the current ones.

If you are trading with IC Markets, as with other brokers, you should keep yourself abreast of the economic calendar. It is a good idea to familiarize yourself with both Fundamental and Technical Analysis and their respective tools. 

IC Markets has some great educational resources to guide you through the trade. Their videos and tutorials guide you through not just the Forex trade but also their MetaTrader 4, MetaTrader5, and cTrader platforms. By sifting through these, you will be better equipped to be a great trader. By going through these, you will also be able to understand the mechanisms of the trade and be able to enjoy trading in Forex, commodities, and cryptocurrencies, among others.