IC MARKETS REVIEW - KNOW BASICS
IC Markets Broker is considered the “gem” of the trading market and many good reasons.
The Company was founded in 2007 and received their licenses from the (AFSL) Australian Financial Services Licenses and (ASIC) Australian Securities and Investment Commission back in 2009. No doubt, IC Markets Broker is one of the prestigious trading platforms that you ever come across.
"They are dealing with Meta Quotes Software Corporation,
MetaTrader 4 and 5, and C Traders platform as well."
So that’s enough of the introduction, right? Let’s get started with the “Account Types, Regulations, and Trading Platforms” of IC Markets.
Here we go!
#IC MARKETS BROKER REGULATION
Before you get started with the biggest giant, it’s important to know the company's regulations. Yes, the IC Market is regulated by (FSA) Financial Services Authority of Seychelles. This means you can trade with the IC Markets without any problem because they are being “Watched and Analyzed” by the best regulatory body in the world.
No then, you must be wondering about the account type of IC Markets Broker, right? Let’s break them down and talk briefly.
#ACCOUNT TYPES OF IC MARKETS BROKER
There are three types of account types that IC Markets Broker is dealing with:
- Standard Account
- Raw Spread Account
- cTrader Raw Account
- It is specially designed for the beginners
- You’ll enjoy the Meta Traders 4 platform for the trading purposes
- There are large spreads, and you’ll have to pay no commission at all
RAW SPREAD ACCOUNT
- This account is specially made for the professionals
- You can use the MetaTrader 4 platform for the “Forex Trading Purposes.”
- There will be a low spread, but you’ll have to pay $3.50 per lot commission
- MLQ4 programming language is used for this account
CTRADER RAW ACCOUNT
- If you’re an expert in Forex trading, then this account is for you
- You’ll have cTrader Forex Trading Platform
- The spread is low, and you should have to pay $3 per lot commission
- They are using the C# language for this account.
These are the account types that IC Markets Broker provides to you, and you can choose one “According” to your requirements, needs, and wants.
It’s time to discuss the “trading platforms” that this broker is dealing with:
#TRADING PLATFORMS OF IC MARKETS BROKER
They are dealing with three platforms for trading:
- Meta Trader 4 (Web and Mobile Devices)
- Meta Trader 5 (Web and Mobile Devices)
- cTrader Platform
- It is the most popular and amazing platform for beginners
- Interface and management system are easy to handle
- Experts and Advisors are available for the scalping traders
- It has built-in functions to “Automate” the trading
- It has Forex VPS (Virtual Private Hosting Service) to maximize the executions
- With the free trading robots, you’ve got the permission to reach MQL5 Community
- It has so many charting options, and you can customize everything from your android phones as well
- You have the authority to enjoy the direct access to liquidity pools
- You can also have a “Back-Testing” facility where you can test things based on “Past Market Data.”
TRADING PLATFORM PROS AND CONS
|No-two steps verification|
Customization (For Charts and Workspace)
Confirmation of the order
|No price alerts|
IMPORTANT THINGS OF IC MARKETS
As we are done with the basics of “IC Markets Broker,” it’s time to discuss the important and in-depth details.
Let’s enlighten our audience!
#SPREAD OF “IC MARKETS BROKER”
IC Markets accounts are considered as one of the best in the world when it comes to providing “Best Value” for your money. Here’s what the spread of “IC Markets Broker” is based on:
- The average spread is very low for all the account when compared with other brokers
- The commission lot is competitive ($3 per lot)
- They won’t charge you for any deposit or withdrawal.
That’s why the spread of this “Company” is considered one of the world's best.
Now, let’s move to the execution time of the “IC Market” and let us know about this topic:
There are basically two types of executions that “every broker” works with:
- Instant Execution
- Market Execution
Instant Execution: Unfortunately, you won’t be able to enjoy the Instant Execution with IC Markets because they don’t offer it. You can have the market execution and if you don’t know what market execution is, then here’s the definition:
Market Execution: In the Forex Trading, the market execution, the client only specifies the volume while placing the order. The asking price of your asset is generated during the execution process. You don’t have to deal with any loss if the value of the asset changes during the execution process.
#COMMISSION AND FEE OF IC MARKETS BROKER
There are around ten currencies that “IC Markets Broker” is offering to you, and your commission and fee shall be decided upon selecting the specific currency pair for your trading.
If you want to open the AUD Base account then you need to look at the graph given below:
You should keep one thing in your mind, and that is, “If you want to enjoy no interest fees, then they have an Islamic account too. You can have the Islamic account on the cTrader account type.
FEES PROS AND CONS
Low Trading Fee
|High Financing Rate for CFDs|
Low Non-Trading Fee
Low Forex Fee
#LEVERAGE/MARGINS OF “IC MARKETS BROKER”
There are different leverage and margins for every account type, and they haven’t mentioned them anywhere, but there’s still good news. We have extracted the “Formula” of calculating the Leverage/Margins of IC Markets Broker:
Margin = trade size/account leverage
The customer service of “IC Markets Broker” is extremely great, and they are available to help you 24/7. You can send them an email, call (+61 (0)2 8014 4280) or live to chat with them to get your queries done.
Additionally, they have a help page where you can get “Different answers to different questions” related to your problem.
Are you satisfied with the above-given information regarding IC Markets? It’s time to open the account and get started with Forex trading.
HOW TO OPEN AN ACCOUNT ON IC MARKETS BROKER
To open the account, you don’t have to deal with the complications because it’s super easy to open it. Follow the steps given below, and you’re done:
- The first thing we need to do is to head towards the official website by Clicking Here.
- Once the page is open, You’ll be shown the front page containing different information like in the picture given below:
3. You need to scroll down a little bit, and you’ll end up getting the information regarding opening the account. Just enter the information as given below and click on the Next button:
4. Once entering the basic information, they will ask you for more information about you, and that will lead by the “Trading Account Information, Declaration and Fund Account,” and you’re done:
5. Click on the Next button, and you’ll be asked to verify the account by heading towards your email and confirm the account. You can sign up via “PayPal” as well.
6. Once the account is verified, they will ask you for the information like; Your CNIC, Home Address, Bank Account Detail and Possibly as Selfie
7. After they verify your identity, they will declare your account as “Opened,” and you can use it accordingly.
OPENING THE ACCOUNT PROS AND CONS
Minimum Deposit Fee
That’s how simple it is to open an account, but the main question that comes up is “How to withdraw the profited money.” Scroll down to check the process!
HOW TO WITHDRAW THE MONEY
To withdraw the money from your account, you need to login into your account and then head towards the Withdrawal form. Following are the payment gateways you can use to withdraw your money:
- Credit Card/Debit Card Withdrawal-No transaction fee (But Credit/Debit card may not be available for all the countries)
- Bank Transfer: You can send the funds directly to the bank, and there’s no transaction fee
- PayPal, Skrill, and Neteller: The transaction fee is 0%, and you will receive the funds instantly once executed
Note* You need to execute the payment request in the business days otherwise; you’ll have to wait for the business days to come and process your money.
DEPOSITING/WITHDRAW PROS AND CONS
Credit Card/Debit Card Available
No Deposit Fee
COMPARISON - IC MARKETS VS. XM
It’s time to talk about the customer reviews and the comparison of IC Markets Broker with XM.com.
Let’s get started!
|IC Markets Broker|
Overall Ratings: 4/5
|Overall Ratings: 4/5|
Trust Score: 81
|Trust Score: 80|
Founded In: 2009
|Founded In: 2007|
Publically Traded: No
|Publically Traded: No|
Tier-1 Licenses: 2
|Tier-1 Licenses: 1|
Tier-2 Licenses: 1
|Tier-2 Licenses: 1|
Tier-3 Licenses: 0
|Tier-3 Licenses: 1|
Authorized in EU: Yes
|Authorized in EU: No|
So, that was the brief comparison between “XM.com vs IC Markets Broker.” And let’s now move towards the advantages and disadvantages of IC Markets.
ADVANTAGES AND DISADVANTAGES OF IC MARKET BROKER
There are a few advantages and disadvantages that you should go through before you leave this place. Here we go!
- They are providing you with great liquidity
- It is regulated by the ASCI
- The minimum deposit starts at “$200.”
- Segregate Client Funds
- Outstanding Customer Service
- A limited number of instruments
- They aren’t regulated by FCA.
So, these are the few advantages and disadvantages of “IC Market Broker,” and it’s time to head towards Bonuses, Promotions, and Contests.
IC MARKETS BROKER BONUSES, CONTESTS, AND PROMOTIONS
Just like all the other brokers, they do have bonuses, contests, and promotions as well. Read everything below.
BONUSES AND PROMOTIONS
Many brokers offer you bonuses to open the account and deposit on your first money to encourage doing Forex trading. That’s not the case with the IC Markets Broker; they don’t offer you any bonuses and promotional gifts. Well, you shouldn’t be surprised because a lot of other brokers aren’t offering rewards now.
There’s a contest going on where you have to open the Demo account and earn the most profit with minimum risk involved. In the tournament, $1000 cash will be distributed to the first ten winners, and the first ten winners will get $1000 money deposited into their live accounts.
You can enter the contest on the 28th of every month, and there are no limitations and no entry fee.
IC Markets Broker is a great place for investors because there’s no deposit and withdrawal fee, opening the account is easy, and customer service is great. Feel free to ask us questions regarding IC Markets Broker, and we will help you with everything possible.