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.
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.
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.
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.
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.
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)
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 16 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.
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IC Markets
Summary
IC Markets was founded in 2007 and is based in Australia. IC Markets operates in two braches.
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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.
back to menu ↑
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;
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.
back to menu ↑
Trading Platforms
IC Markets supports MetaTrader 4, MetaTrader 5, cTrader and webtrader platforms. All of these platforms are also available in mobile.
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.
back to menu ↑
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.
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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 16 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: is IC Markets reliable, is ICMarkets reliable, is ICMarkets safe, is IC Markets safe, IC Markets review, IC Markets reviews, IC Markets entry, IC Markets demo, IC Markets comments, IC Markets users, IC Markets register, IC Markets open account, IC Markets login, IC Markets contact, is IC Markets regulated, IC Markets forums, IC Markets experiences, do you recommend IC Markets, IC Markets user reviews, IC Markets thoughts
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