IC Markets review – Should you sign up or not? – Broker test
- Regulated by the ASIC, CySEC, FSA & SCB
- Safe deposits and withdrawals
- Low trading fees from 0.0 pips spread
- Free demo account available
- No inactivity fees
- MetaTrader 4, MetaTrader 5, cTrader platforms
IC Markets is the leading trading broker across many nations. The company provides many trading instruments and allows traders access to the largest trading platforms. Regulated in various areas, the brokerage offers accounts free of commission.
In addition to trading options starting from 0.0 pips with the minimum spades, the company offers a portal into tight liquidity with all the popular liquidity providers. That means you can get the maximum speed and trade with the lowest prices in the market.
In this IC Market review, we will cover all details of the online broker in detail. Should you sign up with it and invest money? – Read our expert test now!
What is IC Markets? – Information about the company
IC Markets first opened its doors in 2007. The Australian company has its headquarters in Sydney and operates in many countries. Over the years, IC has become one of the leading brokers in the world. The company is multi-faceted and multi-regulated, offering services to individuals, retailers, and other clients globally.
Many count on the company because the service has been available for a long time. While fluctuating market conditions and economic woes saw many companies come and go, IC Markets stuck around. That means the leaders and team members know what they are doing and are only getting better at their craft with time. They are trusted by many for handling funds of all sizes due to their longevity.
Forex, Crypto, Commodities, Shares, Stocks, Bonds, CFDs, Metals, and Indices are all available for traders using the platform. There are over 2000 trading objectives included. The instruments can work using industry-leading trading platforms like MetaTrader 4\5 and cTrader.
The platform has a reputation for high-end technology, impeccable liquidity, and fast connection. The web app is responsive and has almost zero latency. Corporations and big business entities can access the trades, and individuals can also benefit from the great liquidity.
Which regulations and authorities cover IC Markets?
When we discuss regulation, various institutions and official entities have regulated IC Markets worldwide.
The list includes:
- The Securities Commission of The Bahamas (SCB)
- The Cyprus Securities and Exchange Commission (CySEC)
- The Australian Securities and Investments Commission (ASIC),
- and the Seychelles Financial Supervisory Authority (FSA).
We must understand that different regulation and regulating bodies have jurisdiction in different parts of the world. You can personally choose whether you want maximum trading options or strict regulations when you decide to trade with IC Markets. They are available depending on the location of the branch you choose. You can open an account with the international branch of IC Markets if you want to avoid restrictions on the items you are allowed to trade.
Some of the regulators on the list restrict the trading of specific products, but their rules only apply to specific jurisdictions. You can still have a fast and safe trade with IC Markets without being subject to regulation like many users across the globe who trade with freedom and maximum leverage. Years of impeccable service guarantee the stability and reliability of the broker for trading various products without restriction.
The companies imposed regulations across many of its entities to show you how well the leaders run their platform and why they earned the trust of hundreds of thousands of traders who trade on it. You can work with certainty that the company is doing everything by the book in a completely transparent and accountable manner.
IC Markets offers and trading Conditions
IC Markets go out of their way to screen and choose the best liquidity providers. The team updates its list of liquidity providers on a rolling basis so they can offer the maximum number of options for traders. Traders can buy and sell after exploring all the prices in the market. In addition to the quality of the trading process, speed also improves due to sufficient liquidity providers.
Everything is teamwork, and this is especially true in trading. Many teams and team members have to work simultaneously to provide the best trading service for clients. The suburb information flow at IC Markets is proof of such teamwork. IC Markets uses high-end technology to provide an eagle-eye perspective for clients. The technology sorts and filters liquidity providers based on their price offers.
That means clients will always be aware of the best offer from all liquidity providers, forcing them to compete with one another and provide better deals. A real-time feature also guarantees that LPs have low latency and reliable service. Deep liquidity pools and low prices are easily accessible in IC Markets.
The high-end technology and tight spreads make IC Markets the best option for traders who prefer automated trading through robots or scalping. The time it takes to execute trades is the fastest in the market, and many seasoned traders have accounts with the firm specifically for automated trading.
Over 50 liquidity providers are available:
Traders can choose from 50+ liquidity providers when placing trades. Unlike other trading services, IC Markets allows you unrestricted and direct access to hedge funds, investment banks, and various venues. The middle man is out, and there is no risk of price increases, extra hassle, or commission fees when trading with IC. That is one of the reasons IC Markets is a household name for traders worldwide.
If we take Japan out of the equation, IC Markets is hands-down the largest foreign exchange brokerage in the world. The company facilitates close to a million trades daily, and Billions of dollars pass through the platform. That is all possible through top-of-its-class technology and engines in the New York Equinix NY4 data center. The Engines have the lowest possible trade execution period of 35 microseconds, allowing for fast trading for all users.
Test and review of the IC Markets Platforms:
IC Markets offers 3 types of trading platforms:
- MetaTrader 4
- MetaTrader 5
IC Markets turned every stone to guarantee that its users get best-in-the-business platforms and trade without hassle. Big names like MetaTrader 4, MetaTrader 5, and cTrader are part of the platform roster at IC. The tools are easy to use and famous for their high-end technology. But the service does not stop there, as IC Market’s high-end technology, integrated into the platforms, provides an eagle-eye perspective on prices and best trading services for clients.
There is no discrimination toward individuals and small traders as both get access to the same high-end technology regardless of the size of the trades they place.
You can opt for MetaTrader if you like longevity and well reception. The tool is known to be the go-to trading platform for many traders, and it is the most popular on the list. On the other hand, if you want to try something new that includes more features, you can go for cTrader. Although it is not as seasoned as Meta, it is trusted by many traders and growing in popularity.
In addition to the variety of trading platforms, the company has a trading App for mobile phones. Here, you can trade while on the move. If you are at a place where using your laptop or desktop is not convenient, you can open the app on your phone and manage all your trades seamlessly. Besides, you have the possibility to see which new assets are trending in the market and place new orders.
Assets and Leverage of the trading platforms:
- Forex (1:500 leverage) & 61 currency pairs
- 20+ Commodities (1:500 leverage)
- 25 Indices (1:200 leverage)
- 9+ Bonds (1:200 leverage)
- 21 Cryptocurrencies (1:200 leverage with MT4 & 1:5 leverage with cTrader)
- 1800+ Stocks
- 4 Futures (1:200 leverage)
- Raw spreads from 0.0 pips
- Spreads remain tight 24/5 due to a diverse liquidity mix
MetaTrader 4 (MT4)
MT4 has accumulated a loyal user base of a million since joining the market. It is user-friendly, free, and compatible with many devices and browsers. You can get it for your desktop and use it straight from your favorite browser. You can also use the mobile app on your Android or IOS device by downloading it from the Apple Store or Play Store. Many rely on the platform to make sound decisions and better trades by analyzing charts and market prices with the latest technology.
The MT4 is the go-to choice for many because it is easily accessible for beginners who want to trade minimal insight and supports advanced analysis tools for veterans or seasoned traders. The flexibility has made it a global household name and a leading platform.
IC Markets has a partnership with MetaTrader 4 to give the best experience and efficiency. There is a large following of traders utilizing MT4 in IC Markets. Reviews indicate that almost all users are satisfied and even pleased with their experience using MT4 at IC Markets.
IC Markets allows for Standard and Raw Spread accounts when users trade with MT4 through the platform. MT4’s award-winning technology combined with IC’s fast training service and flexible environment gives the best of both worlds for new and experienced traders.
MetaTrader 4 (MT4) Features:
- Adjustable leverage and a fully customizable user interface with editable charts make the best user experience and friendly environment while trading on desktop/laptop or mobile.
- Best-in-the-market spreads & low commissions that provide transparency and fairness.
- Flexible funding and withdrawal options for users that work even when they have a change of heart about a trade or want to change their orders.
- Strategy tester for backtesting EAs and MQL4 and programming language for coding custom indicators and scripts allows customizable and flexible features for advanced traders who want to take matters into their own hands.
- Various trading tools for analyzing markets that include real-time price quotes in the market watch window equips seasoned and new traders with all the tools necessary to succeed in their insightful trades.
- Automated trading with expert advisors makes life easy for those who want to use automation and bots to trade passively. That is great for busy individuals who try to juggle trading with their hectic work or family schedules.
- Notification via email, SMS, and platform pop-ups concerning price alerts keeps users informed at all times.
- An online community where you can copy trading signals & download additional tools that make people feel like they are a part of something bigger and involves them in the conversation regarding the latest trends and updates.
MetaTrader 5 (MT5)
MetaTrader 5 is the latest all-inclusive platform for traders. The platform provides access to foreign exchange, indices, stocks, bonds, crypto, and various commodities in one place. IC has integrated this tool into its platform to help users keep up with the latest technology and easily access the product of their choice. Forex traders can make their lives easier by trading via IC Markets using MetaTrader 5. But the service is similar to the one provided by the earlier version, MetaTrader 4. MetaTrader 5 has new features in store for traders who focus on stocks and bonds.
MT5 is an improvement on MT4 which led the industry for several years. The charting features have changed and come with observation tools that allow traders to track their orders. You can keep an eye on the trade you placed and adjust your position through speed and ease when you use MT5. On top, you can use MT5 for Raw Pricing and Standard accounts if you trade with IC markets.
MetaTrader 5 comes with Raw Pricing compatibility and high speed. It offers spreads starting from 0.0 pips, and you have all the freedom because there are no restrictions. Automated trading is made easier than before with impeccable execution speed. The platform is available for free download on App Store and Apple store.
cTrader is known for being a discrete and easy-to-use platform that allows for speedy execution and consistent monitoring of trades. The appearance and interface are elegant and reminiscent of high-end technology. You can search the globe for assets that suit your preference and follow up on each trade you place using cTrader on IC Markets.
Day trading, scalping, and any trading style you choose are available through the platform. You will get deep liquidity and fast service when you use cTrader.
The only downside of cTrader is that it is less popular than MetaTrader. Therefore you might not find it on every platform. That can be a problem if you try to take your trade from one platform to another. But if you stick with a platform that integrates cTrader, you can be sure you get the best service technology and compete with traders globally. Many customers trade with cTrader daily with no trouble, and the reviews indicate that it matches other platforms concerning its efficiency and reliability.
cTrader In a nutshell:
- Real-time forex and CFD quotes to help you pick the lowest prices.
- Spreads and low commissions that are competitive with MT
- Speedy order execution and unrestricted trading that includes scalping options
- Fluid fund and withdraw options with many order options.
Indicators, Charting, and Tools available at IC Markets
IC Markets allows access to various tools that help traders make informed decisions with real-time and detailed data concerning prices and markets. While they did not include brands like Autochartist and Trading Central, they make up for it by having many options like technical indicators, economic calendars, VPS, market data, and more.
The platform includes plenty of tools for passive traders. It also allows traders with advanced requirements to program their strategies. There are countless ways an experienced trader can make use of the platform. Complex strategy options are possible through various tools. Whether you want to trade on the side for fun or immerse yourself professionally, IC Markets has you covered.
If you are a beginner, you can slowly choose the trading tool that works for you by going through a list of several options. There is no need to be intimidated by the process of learning. You can make smaller trades and work your way to large transactions. Once you get used to the tools and know how to use them, you will have an easier and more enjoyable time trading. You can become an expert in a short period because the tools are user-friendly and easy to learn. Hundreds of tools on the market mean you will find a few you like no matter your preference.
MT4 Advanced Trading Tools
Trading with MT4 is one of the most popular ways of navigating the market with any company. IC Markets is no exception, as many users trade using MT4. Traders have various tools at their disposal when they use MT4.
Spread Markets, Depth of Market, Ladder Trading, Trade Risk Calculator, and Custom Order Templates are just some of the tools MT4 traders can use while trading with IC Markets. IC has 20 trading tools that are built-in and found nowhere else. Most brokerage firms offer MT4 services without additional tools, so the IC market has bridged the gap, becoming the leading MT4 trading broker.
Some of the tools and their functions include:
- Market Manager: The market manager lets you monitor and control all your trading practices under one tab. It is ideal for organization, and it user friendly.
- Session Map: You can see what is trending globally and locally with a simplified skim-through of all the large trade items and products using Session Map.
- Alarm Manager: The Alarm Manager is like Siri on the iPhone, an assistant with your trading info to give you real-time updates and notifications on multiple devices and even social media.
- Correlation Trader: Correlation Trader allows you to compare two trades and make a sound choice.
- Tick Chart Trader: You can see traditional and timeline charts using Tick Chart Trader. The tool is best when you want to make sense of raw data.
- Trade Terminal: Ordering Template, precision trading, and other programs are included in Trade Terminal.
- Stealth Orders: You can hide pending orders from other participants using Stealth Orders.
- Mini Terminal: The Mini Terminal is similar to the Trade Terminal, except it focuses on one specific chart. It helps you zoom in on particular trades.
- Excel RTD: You can manage multiple accounts at once using Excel RTD
- Correlation Matrix: Correlation Matrix provides price information promptly so you will not miss opportunities to trade.
- Sentiment Trader: You can see which trades are open in real-time and be aware of the market 27/7 using Sentiment Trader.
MyFxBook is a more recent version of ZuluTrade created by another company. You can link your account to their official websites; the program will provide trade signal options. You choose a signal and copy the trade. There is no way to be sure when using this tool because people make decisions based on impulse, emotion, or the need for a get-rich-quick scheme. And you may be a victim of their bad choices when you copy their trades.
On the other hand, you might win big. You might make the best move possible by copying a good trader. The only way to find out is to risk your investment and believe in others’ judgment. Like Zulu Trader, this is not everyone. Take your time and decide if you want to try it. But you can still take advantage of the many tools integrated into MyFxBook without risking your cash. Market analysis, sentiments, and more are available on the platform.
Virtual Private Server
You can use a Virtual Private Server (VPS) if you have time and location constraints that do not allow you to be online 24/7. The trading platform can run live through the cloud, and it will have the latest technology speed, and efficiency. IC Markets allows a VPS trading system so you can passively participate while you are offline or working.
If your work or family schedule does not allow you to be online, or if your internet is not available all the time, you can use a VPS with no hassle. Additionally, you will not be burdened with monitoring and checking your trade every hour.
You can be sure to have the highest security integrated into your trades, and there is no need to buy a server or learn new software to place orders. IC Markets has its servers next to a cloud service, so you can opt for a close company to have a seamless and speedy connection. Forex VPS, Beeks FX VPS, and NYC Servers have partnerships with IC Markets. Therefore can get free VPS service if your trade goes over 15 lots in 30 days.
If you are already familiar with trading passively by using robots, VPS can be a real lifesaver. Your life would be easier because you do not have to monitor your daily orders. You can also make a significant profit despite server fees because the maximum you might get charged is $50 per 30 days. The service is worth the cost because it saves you from daily work.
Zulu Trade is trending because the world is becoming more social by the day. Social media is more popular than it was before, and it is part of everyone’s life. Zulu is a social trading tool that allows you to learn and profit from other experienced traders by copying their trades. You have full control of the trade signals you copy and can decide which orders appear on your trading portfolio.
Many enjoy copy trading because it is easy and they like letting go of the responsibility of analyzing every trade they make. But some want to go through every part of trading by themselves to know the exact details about each move they make. They do not want to gamble on other opinions and want to control their money with undivided attention. Ultimately, it is up to you to decide if you want to copy trades, but if you want to do so, IC Markets is ready for you.
MAM stands for Multi Account Manager. You can use this tool if you trade for multiple clients. You can manage all your clients’ trades separately and get live information to see how each trade performs. You can allocate separate folders for each account(client) when you use MAM at IC Markets. You can focus on your orders with undivided attention, and the organization goes through user-friendly software.
MAM works best with MT4, and it is a popular software used by money managers across the world. You can use expert advisors and control multiple client accounts under one tab. You can trade with hundreds or even thousands of client accounts at once. The speed will remain the same as when you operate with one account, and you can place orders in bulk and manage them together if you prefer.
- Market observing tool and report for each account
- MAM manager is built in to control your trades live with no latency.
- You can allocate your trades and organize them any way you like starting from small accounts of 1000 units.
- There is no limit to the number of accounts you can manage or the amount of money you deposit
- Normal orders like Market, Limit, and Stop are available. Additionally, Unique Orders like Close By, Close All, and trailing Stop can be implemented.
- You can manage accounts using expert trading and control them separately. That means different client accounts can be accessed using various strategies without uniform patterns.
- You can monitor your trades in real-time and never miss any fluctuation.
- You can make multiple account trades with just one order, and the tool will automatically manage and separate your accounts.
- Get up-to-date reports on commissions, trades, and more. Control data and inform your clients every month or once a year through a feature that is integrated with MT4.
What can the Money Manager do?
- You can insert new funds or withdraw money without halting ongoing trades and derailing your progress,
- You can provide your clients with expert reports by industry-leading specialists,
- Expert advisors can work with you seamlessly.
How to trade on IC Markets – A step-by-step tutorial
You can trade on the platform by visiting their official website and following simple steps:
- Provide your information
2. Choose a payment option
3. Choose your account type
4. Place an order
IC Markets education section
Your success depends on your expertise, so IC Markets recommends watching the videos and reading the articles prepared for traders of all levels.
IC Markets provides beginner-level courses and mastery material for clients across the world. Whatever your level of confidence and expertise, you can start from the points you understand and grow with IC. There are documents you can read and hold on to for future reference as cheat sheets. You can also learn by watching video tutorials and guides if you prefer.
Many people have started from zero and gone to trade with confidence, using the materials and educational resources provided by IC Markets. If you learn by doing, you can open a demo (mock) trading account and test your skills without losing money. You can practice with your free account until you are ready to trade with real cash.
Here, it’s possible to log in with the password provided or stay logged in using your device browser for long-term use.
How to fund (deposit) and withdraw with your account at IC Markets
IC Markets allows for deposits from all major currencies and more. Digital wallets are also accepted as they help make clients’ lives easier through speed and discretion. There is no additional payment required to make deposits or withdraw money.
Your bank may charge you extra for deposits and withdrawals, but you can be sure there is no payment from the side of IC Markets. Be mindful of exchange rates when you change currencies and plan ahead of time because the transfer can take up to a few days. Depending on your location and bank, your deposit may take a few minutes to a few days. Credit cards, Debit Cards, Wire Transfers, and Digital wallets are all available at IC Markets.
What are the account types at IC Markets?
True ECN and Standard are the two types of accounts provided by IC Markets. You can start with an initial deposit of $200, which is the minimum according to industry standards. But there is no need to worry because you can start with a demo account and work your way up.
Many customers speak highly of the ECN account for various reasons. The spreads are ideal, and the liquidity has depth, so it is the choice of many expert traders. The platform allows for a leverage of up to 1:30 for assets in Europe and Australia. The number goes up to 1:500 for worldwide trades.
There is no limit to the number of accounts you can have at IC Markets. Whether you have clients whose money you manage or you want multiple accounts for yourself, you can do so at the platform with no trouble.
You can open an account that works best for your trading style and matches your assets. For example, if you primarily trade forex, you can pick any account you want because both types are similar. ECN account is the best option for scalpers and robot users.
True ECN Account
The ECN account is a high-tech, low-latency account with the minimum possible spreads. You can start with 0.0 pips; the commission is only $3.5.
The standard accounts start from 1.0 pips. On the other hand, no commission fees apply- you can save the difference.
Sharia law and no-swap are available to make the platform more friendly toward Islamic clients. If you are Islam, you can trade without compromising your beliefs.
Is there a IC Markets demo account for beginners?
The Demo Account is helpful in more ways than one. You can test the waters and see what trading feels like as a beginner. Use the opportunity to increase your skill and confidence. On the other hand, you can also see if IC Markets matches all the hype by trying it thoroughly before investing any money upfront. It is wise to practice without risk.
While the best way to learn is by testing the waters and getting real experience, you can be more informed through the articles, guides, and papers on the IC Markets’ official website. There is plenty of knowledge for beginners who do not know where to start. Market research, using technical tools, and monitoring your trades are some topics covered in the educational blog.
What educational materials are available at IC Markets?
1. Web TV
Global products, equities, forex, and stocks get covered on the IC market’s Web TV programs. The broadcast is brought to millions across the world with the help of Trading Central. Informational videos and lessons are available through the channel. Beginners and advanced users can take advantage of the platform.
The IC Markets webinars are valuable pieces. Even seasoned traders tune in to watch. Industry-leading traders, company heads, and executives give illuminating talks, and all aspects of global trade get discussed in one episode or another.
3. Video Tutorials
If you ever feel lost and do not know how to set up one of the tools or use the platform efficiently, check out the video tutorials. They take you on a step-by-step journey that can help you solve your problem with no confusion.
What does the support team look like at IC Markets?
IC Markets has industry-leading customer support and assistance. Whether you want to talk on the phone, over email, or online, the support team will be there for you 24 hours a day and seven days a week. If your country is on their list, you can even take advantage of their free calls. Do not worry that you will fail to communicate your problem due to a language barrier because many languages are welcome at the call center.
The support team and high-level management received acclaim from customers for their expertise, professionalism, and kindness. IC managers come from trading backgrounds with careers as professional traders, so they easily sympathize with clients when they face problems while placing orders or trading.
Fairness, integrity, and customer prioritizing are at the core of their operating system. They announce their goal of making their clients’ lives easier through their website and various media outlets. Many positive reviews back the claims across the web.
Supported countries in which IC Markets is available
IC Markets caters to users across the globe, except for potential clients in the USA, Canada, Japan, Israel, New Zealand, Iran, and nations included in the OFAC list. That is because US CTFC regulation prohibits its citizens from trading with brokerage firms outside the US. Traders in the countries listed above can find alternative brokers near their area. The rest of the world can place trades on IC Markets and choose the regulation they want to abide by.
Conclusion: IC Markets is a legit online broker you can rely on
IC Markets provides standard accounts for your basic trading needs. But their ECN account is the most advanced technology in designated for trading. You can take advantage of their platform to start trading and improve or advance to an expert level because it is the number one choice for many clients who have tried more than one broker.
Traders have used the platform for years, satisfied and happy because they are covered in from angles while trading. The educational material is no short of a college program for its all-inclusiveness, and the leaders are fellow traders who understand your needs. A down-to-earth support team will guide you when you encounter any confusion. The call center operates in many languages 24/7, so you will not miss a second of trading because of errors.
Benefits of IC Markets:
- Regulated broker
- High leverage up to 1:500
- High liquidity
- Spreads from 0.0 pips with low commissions
- MetaTrader 4, MetaTrader 5, cTrader
- Support 24/7
- No charges for deposits and withdrawals
- No requotes
Most asked questions about IC Markets:
Who is the target user of IC markets?
Day traders, algorithmic traders, retail traders, and asset management firms can benefit from using IC Markets. It can also work for beginners, given the availability of in-house educational tools that are highly useful and consistently updated. Before opening a live version, they can also familiarize themselves with the platform using a risk-free demo account.
How do you change leverage in IC markets?
You can change leverage on the IC Markets trading platform during a trade in the Client Area section while following the maximum allowable leverage based on your assets and location. Please note that you can leverage the value of your security by up to 500 times.
Will I make money with IC Markets?
Although it is legit and reliable, with many users profiting from their trades, your success is neither quick nor guaranteed. But by picking the right brokerage and careful planning of trades, the odds of succeeding are very high.
Which specific payment companies can I use to fund my IC Markets account?
The following are companies that can facilitate funding of your IC Markets account in major international currencies:
Visa, MasterCard, PayPal, Neteller, Neteller VIP, Skrill, Poli, BPAY, UnionPay, Wire Transfer, FasaPay, Broker to Broker, QIWI, Rapidpay, Klarna, Thai Internet Banking, and Vietnamese Internet Banking
How long does it take to withdraw profits from the IC Markets account?
When using PayPal, Neteller, and Skrill, you can expect instant credit as long as it is the source of your initial funding. Credit card withdrawals (if available in your issuing country) usually take three to five business days but sometimes stretch up to ten, depending on the issuing bank. International wire transfers can take up to 14 business days.
Do IC Markets allow scalping and hedging strategies?
IC Markets offers both scalping and hedging using MetaTrader 4 and 5 environments. Their spread, which is among the lowest in currency pairs, and trading conditions make them ideal to do so.
Can US residents join IC Markets?
No. The Commodity Futures Trading Commission (CTFC) prevents Americans from trading with brokers outside the country. Besides the US, Canada and Belgium residents cannot sign up as well, given their respective regulatory requirements.