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IC Markets Forex Broker Review

Introduction

IC Markets is an Australian based True ECN forex broker, regulated by the Australian Securities and Investments Commission (ASIC). The broker was founded in 2007 and is providing trading solutions for active day traders and scalpers, as well as traders that are relatively new to the forex market.

Offering of Financial Investments

IC Markets is a forex and CFDs trading broker.

IC Markets offers a variety of CFD and crypto products, but its forex product offering is relatively smaller than other brokers.

The default leverage size of the products can be changed when trading, which is quite handy.

IC Markets Trading Account Types

The account opening process at IC Markets is fast, fully digital, and usually approved within a day. The broker offers low minimum deposit.

IC Markets accepts customers from many countries, exceptions include the US, Canada and Israel.

The minimum deposit is as low as $200, compared to other CFD brokers which usually require a minimum of $2,000 or more.

The broker offers three account types – Raw Spread, Raw Spread cTrader, and Standard.

IC Markets Commission and Fees

IC Markets offers low and no trading fees. There is no inactivity or withdrawal fee, however financing rates for CFDs are relatively high.

IC Markets Platforms and Tools

IC Markets doesn’t have its own self-developed trading platform, therefore it provides trading by the widely known MetaTrader trading platform. The platform is available in numerous languages, however, it lacks a two-step login, price alerts, and the design is completely outdated.

The broker offers trading on all three types Web, Mobile, and Desktop trading platforms.

IC Markets’ most used trading platform is MT4. The broker also offers trading on MT5 and cTrader.

IC Markets Research

IC Markets offers a great variety of research tools, technical tools, quality news, and charting tools. However, there’s a lack of fundamental data.

Should I trade with IC Markets?

IC Markets is regulated by several financial authorities globally, including the top-tier Australian watch dog ASIC. However, the broker is not listed on any stock exchange and does not disclose financial information publicly.

IC Markets provides negative balance protection for EU retail customers, which means that if your account balance goes into negative, you will be protected. However, the broker provides only forex and CFDs products for trading. Non-EU clients are not covered by any investor protection scheme.

FAQs

Is IC Markets safe?

The broker does not operate a bank and it is not publicly traded. However, you may say that the broker is legit, since it is regulated by the one tier-1 regulator ASIC.

Is IC Markets an ECN broker?

Yes, IC Markets is a Forex ECN and CFD broker, offering trading on more than 236+ financial instruments across Forex, Commodities, Indices, Bonds, Cryptocurrency, Stocks and Futures on the MT4, MT5 and cTrader trading platforms.

How much can you withdraw with IC Markets?

There are no minimum or maximum withdrawal limits. Once IC Markets’ traders perform full credit card verification, they can withdraw more money to a credit card than was initially deposited with the credit card method.

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