IC Markets

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Summary

IC Markets was founded in 2007 and is based in Australia. IC Markets operates in two braches.

  1. IC Markets AU which is based in Australia and supervised by the Australian Securities and Investments Commission (ASIC).
  2. IC Markets SEY is based in the island of Seychelles and regulated by the Seychelles Financial Services Authority (SFSA)

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Trading Accounts

IC Markets provides 3 simple accounts to its customers. In addition to these accounts, there is also the option of an Islamic (swap-free) account. You can contact to customer service and convert your account to swap-free account. IC Markets also provide demo accounts for traders. You can test your strategies without loosing real money.

  1. Ctrader raw spread account
  2. True ECN raw spread account
  3. Standard account
  4. Islamic (swapless & interest free) account
  5. Demo account
Account Types & Features


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Registering an Account

Opening an account at IC Markets is very easy. You can apply online in a few steps. This company accepts customers from almost all countries, with the exception of a few countries. The United States, Canada, Japan and New Zealand are among the major countries where customers are not accepted. Minimum deposit for new accounts is $200.

Here are the steps you need to follow to open an account from IC Markets;

  • Enter your personal information such as email address, birthday and physical address.
  • Select your account currency. (USD or EUR is preferred for most customers)
  • Complete a short survey about your market experience.
  • Complete the verification process. For verification, IC Markets will want you to send a photo of your ID and your address document. You can use your passport instead of ID. When sending the photo of your ID, you should make sure that the corners of your ID are visible. For the passport, you must send the page where your photo is located. Again, make sure that the corners are visible. In order to verify your address, you must either send a photo of an invoice, such as telephone, natural gas, electricity, etc. or send a certificate of residence .The address on the invoices should match with the address you use during registration. All documents should include account holders name.
  • The documents will be approved within 3 working days. If they reject your document, they will notify you to provide another document. Documents of our test account was approved in 2 days.

Register a Live Account


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Deposit and Withdrawal

One of the best features of IC Markets is that it does not charge commissions for deposits or withdrawals. You can check all deposit and withdrawal options at the bottom of the page. 10 different currencies are supported for transactions. Deposits are completed in 2-3 hours on average. The withdrawal process may take up to 3 days.


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Trading Platforms

IC Markets supports MetaTrader 4, MetaTrader 5, cTrader and webtrader platforms. All of these platforms are also available in mobile.

Trading Platforms

The Webtrader platform works very efficiently. You can see that it looks very similar to the Metatrader 4 or 5 platform. You can easily manage your transactions using this platform. However, if you need multiple graphics, webtrader will not be enough for you, you may have to use MT4 and MT5 platforms.


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Products, Spread and Commissions

IC Markets generally offers low spreads. You can examine the products and spreads that are tradeable for the Raw Spread account in the image below. The column titled with an exclamation mark is the spread in points (10 points = 1 pip). The screenshot is obtained during the last hours of the London session, so you will often see spreads close to these rates during the day. This account also includes an extra commission based on the transaction volume ($7 per lot). When evaluating the spread rates, you should consider that you’ll be charged some commission and spread together.

IC Markets genel anlamda düşük spreadler sunmaktadır. Raw Spread hesabında işleme açık olan ürünleri ve spreadleri aşağıdaki görselde bulabilirsiniz. Görseldeki ! işareti ile belirtilmiş kolon point değeri üzerinden spread miktarlarıdır(10 point=1 pip). Görsel Londra seansının son saatlerinde alınmıştır dolayısıyla gün içinde çoğu zaman bu oranlarda spreadler ile karşılaşacaksınız. Bu hesapta işlem hacmine göre ekstra komisyon da uygulanmaktadır (Lot başına 7 usd) Spread oranlarını değerlendirirken makastan başka ekstra komisyon olduğunu dikkate almalısınız.

Tradeable Products and Spreads


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Bonuses

We did not encounter any promotions or bonuses during the review.


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Customer Service

This company provides support in English, Arabic, Thai, Italian, Spanish, Portuguese, Chinese, Vietnamese, Slovak and Russian. You can get support via email, live chat or phone. Our trial email support request was answered within a day. Waiting time for online chat is acceptable(less than 3 minutes)


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Conclusion

IC Markets can be classified as a top forex and CFD firm. Low spreads and commissions, ease of opening an account can be considered as the most important features. Order executions can be considered very good thanks to ECN feature. On the other hand, spreads during New York close, can widen from 1 pip to 15 pips, which is a significant disadvantage. If you have a short-term or narrow stop loss orders and you intend to leave it the next day, this spread widening can easily push you out of the game. IC Markets has been in service for nearly 12 years, and we think that this is enough time to prove its reliability. You can try the company by opening a demo account. You can choose to open a real account after experiencing the trading conditions of the broker with the demo account.

Open a Demo Account

 

Tags:

 

Specification: IC Markets

Location
Regulators

ASIC, FSA

Trading Platforms

MT4, MT5, MT Webtrader, MT Mobile, Ctrader, Ctrader Web, Ctrader Mobile

Tradeable Products

Forex, CFDs

ECN Order Processing

Yes

Number of Products

132

Leverage

1:500

Islamic Swap-Free Account

Yes

Minimum Deposit

200$

Money Transfer Options
Multilingual Customer Support

No

Micro Lot Trading (0.01)

Yes

Spread Index

1.79

Photos: IC Markets

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Expert Score 8.5
Regulation Reliability
8.5
Expenses
8
Spreads
9.5
Diversity of Products
8.5
Promotions
0
Money Transfer Options
7.5
PROS:
  • Low spread
  • Fast and easy registration
  • Commission-free deposits and withdrawals
  • Fast order execution
CONS:
  • Spreads widen during first minutes of new day
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