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IC Markets

IC Markets
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Phone Number: +61 02 8014 4280
Headquarters: 309 Kent Street, Sydney, NSW, 2000, Australia
Regulated By: ASIC
Platforms: cTrader, MetaTrader 4

IC Markets is an Australian forex broker, regulated by the Australian Securities and Investments Commission (ASIC). The broker was founded back in 2007.

IC Markets pros and cons

IC Markets is one of the world’s only True ECN forex brokers providing trading solutions for active day traders and scalpers as well as traders that are new to the forex market.

IC Markets offers its clients cutting-edge trading platforms, low latency connectivity, and superior liquidity. IC Markets is revolutionizing online forex trading; online traders are now able to gain access to pricing and liquidity previously only available to investment banks and high net worth individuals.

IC Markets has low forex fees. The broker has an easy and fast account opening process. IC Markets’ depositing and withdrawals are free and user-friendly.

IC Markets does not provide any investor or negative balance protection. The broker has a limited product portfolio, offering only forex, some CFDs, and cryptocurrencies.

IC Markets trading fees

The broker has low trading and non-trading fees. There is no inactivity or withdrawal fee. On the negative side, however, the broker’s financing rates for CFDs are high.

IC Markets account opening

The account opening process at IC Markets is user-friendly and fully digital. The online application takes around 15 minutes and usually gets approved within a day. There are three account types at IC Markets which differ in fee structures and available trading platforms. The minimum deposit at IC Markets is $200. This is considered low, since other CFD brokers usually require a minimum of around $2,000.

There are no fees for IC Markets’s depositing and withdrawal services and many options are available for moving your money in and out.

IC Markets trading platforms

The web trading platform of IC Markets is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. However, it lacks a two-step login and price alerts. The design is outdated as well.

IC Markets doesn’t have its own self-developed trading platform. Its most used trading platform is MetaTrader 4. The broker also has other platforms available such as MetaTrader 5 and cTrader. They both come with their own commission structures.

IC Markets has a great mobile trading platform, offered by MetaTrader 4. It is well-designed and user-friendly. However, it lacks a safe login. IC Markets provides only a one-step login, yet a two-step login would be a lot more safer.

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