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IC Markets Broker Review 2019

FairBinaryOptions Broker Certificate
  • Min. Deposit $200
  • Max. Leverage 1:500
  • Spread EUR/USD from 0 pips
  • Mobile Yes
  • Platform MT4/Webtrader
  • LiveChat Yes

IC Markets is an Australian broker offering forex and CFDs trading in range of markets. The broker is owned by International Capital Markets Pty Ltd, which is headquartered in Sidney, however they offer trading services to customers from around the globe. IC Markets is licensed by ASIC- Australian Securities and Investments Commission, under the number AFSL No. 335692. The broker offers so called “true ECN” trading, meaning that traders get direct access to global liquidity ensuring lowest spreads and fast execution, avoiding intermediaries like dealers and various changes in pricing. While many of these things might sound unimportant to beginners, for those trading volumes it means better conditions in most cases. Good thing about IC markets is the fact that even beginners will not have issue starting with one of their accounts knowing they get the best conditions in any case.

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  1. IC Markets Account Features

    As with most Forex and CFDs brokers traders can set up a demo account to start trading virtual money in order to see how things work. In our case, since the broker offers two kinds of platforms, we selected the cTrader platform which we believe is more exotic for most readers. Other platform, naturally being – the MetaTrader4.

    We opened the demo account pretty fast. After entering our info, it took us 3 clicks and we had our demo account number and password in our email inbox. Make sure to thoroughly take a look at the website while opening the demo since the last screen puts a lot of emphasis on the Live account offer, almost causing us to sign up for the live account before trying the demo. The demo account notification was on top, in smaller letters, so read carefully in case you are only hunting for the demo account.

    One thing we did not like was just 200 in virtual money we got to use as the demo account. Usually brokers award 5000 or 10000, and many are replenishable. Since microlots can be traded, this is not an issue per se, however, it just felt a bit stingy for no reason, from the side of the broker.

    IC Markets Standard Account

    Is probably one of the cheapest ECN accounts on the market. The only comparable we know of may be the FXTM Cent ECN account, however, many can argue this is the totally different offer, especially in the world where regular ECN accounts start from $2000. So this is definitely a good offer in our opinion. The account is based on Metatrader4, using the best liquidity pool to deliver the lowest spreads for this class of account. We know this sounds like an add, but technically this is what is being offered here.

    • Some more advantages is the fact that Scalping is allowed and lots start from 0.01 as it is industry standard.
    • Leverage is maximum at 1:500, which will definitely make happy some of less risk averse traders.
    • Spreads start from 1 pip for EURUSD which is tight as promised.
    • The account supports trading 64 FX pairs and 15 indices CFDs and can be opened in 10 currencies, which is also some sort of “best” when compared to European competition.

    IC Markets True ECN

    True ECN crosses that magic boundary from some spreads to zero spread ECN world and IC Markets does it decently. Most features remain similar as with the Standard account, however, this one is for the volume traders.

    • The leverage is up to 1:500 again, as are other features like assets and lot sizing.
    • Difference is the zero spread and $3.5 commission per $100.000 traded.

    IC Markets cTrader ECN

    If you still want the same features, however, Metatrader 4 is too “oldskool” for you, you can trade using cTrader platform on IC Markets. This means that you get many of the features presented before, however in a different platform.

    Zero spread, 1:500 leverage and no restrictions policy are there. Only difference is lack of 2 of 15 indices offered as CFDs assets.

    Overall if you prefer ECN, but with less initial investment and less barriers, IC Markets might be right for you, however, one drawback is the existence of negative balances with this broker – so be mindful with that leverage!

     

  2. IC Markets Trading Software

    As we already mentioned, the MetaTrader4 and the cTrader are the platforms offered when joining IC Markets. We have used cTrader as mentioned due to the simple fact that MetaTrader is defacto standard. cTrader can be used as the web trader or downloadable software. They also offer cTrader Algo where strategies can be programmed to trade prepared strategies that are executed automatically.

    The web interface we used is pretty simple. There is a list of assets on the left and chart tools on the right. On the bottom is the open positions pane, history and orders in several tabs that can be switched between. If order is opened, one has a green button in the right bottom part of the screen where it can be selected and closed. One can also use the quick trade mode which enables one click or double click trading. Terms and conditions apply with quick mode and they need to be accepted before activating the feature.

    New orders can be done the “slow way” by selecting the button at the top and configuring the trade more carefully. In this case the stop loss or take profit functions are not predefined by need to be set on the spot. Overall we find the cTrader visually pleasing, but in case you are looking for Metatrader4 alternative, trying Sirix might be a better direction, however, don’t forget the ECN might cost you in that case.

    IC Markets Cryptocurrency CFDs

    IC markets, along with the current set of conventional assets one would expect with a forex broker, also offers trading in cryptocurrency CFDs. They offer

    • Bitcoin
    • Ethereum
    • Bitcoin Cash
    • Dash Coin
    • Litecoin

    Leverage is up to 1:20 for crypto assets, which is currently the industry standard. For more info and a guide on cryptocurrencies buying, selling and trading, visit this page.

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  3. IC Markets Support Information

    Best way to contact IC Markets in case information is needed is to use the live chat. This is assuming the info you need is fast and the issue is not complicated. In most cases, traders can do everything on their own, but help may be needed sometimes. The support is multilingual, so other than English, other languages are also available. Website itself also has a Russian, Chinese and Japanese version even though the Chinese version seems to be in vacation mode – we cannot really understand the text other than seeing a picture of the beach.

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  4. IC Markets Payment Methods

    The minimum deposit with IC Markets is $200 or equivalent in the base currency you select for your account. This is an industry standard meanwhile, and as mentioned, one of the lowest entries required for an ECN account.

    IC Markets Deposit

    There are 10 ways to deposit with IC Markets

    • credit and debit cards
    • PayPal
    • Skrill
    • Bank Wire
    • Neteller
    • Qiwi
    • WebMoney
    • BPAY deposit (AUS)
    • China Union Pay
    • Branch Cash Deposit (AUS)
    • Broker to Broker transfer
    • FasaPay

    The money is held in segregated funds with Australian banks. The broker does not charge deposit or withdrawal fees, however, your payment provider might.

  5. Your capital is at risk
International Capital Markets Pty
IC Markets is regulated by ASICIC Markets
is regulated by
ASIC
Reg no.: 335692

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