Get ready to dive deep into this ultimate overview of IC Markets. We’ll closely examine their products, education, and customer service, providing complete information about their platform, withdrawals, and deposits. Together, we’ll find out if IC Markets is as reliable as it appears.
A Short Background About IC Markets
IC Markets is an established online trading brokerage founded in 2007. Headquartered in Australia, it has gained recognition as a global forex and CFD trading services provider. The company offers various financial instruments, including currency pairs, indices, commodities, and cryptocurrencies.
Operating on an Electronic Communication Network (ECN) model, it connects traders directly with top-tier liquidity providers. This ensures transparent and efficient trading conditions, with tight spreads, fast trade execution, and minimal slippage. Their advanced trading technology is exemplified through the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, known for their robust features, user-friendly interface, and extensive range of trading tools.
In addition to its technological prowess, IC Markets strongly emphasises customer support and education. They provide multilingual customer service, available 24/7, and offer educational resources such as webinars, tutorials, and market analysis to assist traders in improving their knowledge and skills.
This broker has received industry recognition through numerous awards, particularly in areas of execution, customer service, and overall trading experience. The brokerage continues to innovate and evolve to meet the needs of traders worldwide, ensuring its position at the forefront of the industry.
Let’s take a moment to swiftly review a few key facts:
- IC Markets offers tight spreads, making it attractive for traders seeking cost-effective trading.
- This brokerage supports the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
- IC Markets has limited funding options that may restrict flexibility for some traders.
- A no-cost demo account is available for traders to sharpen their trading strategies.
- This brokerage does not offer A social platform for copy trading or following others’ strategies.
- The broker connects traders directly with top-tier liquidity providers, ensuring competitive pricing.
- The brokerage imposes an inactivity fee if an account remains dormant for a certain period.
Read more about IC Markets on Wikipedia.
Markets and Products
IC Markets provides access to a wide range of trading markets for individual and institutional traders. Forex trading is a key focus for this broker. IC provides a diverse selection of currency pairs from major, minor, and exotic markets. Traders can benefit from tight spreads, deep liquidity, and fast execution speeds. Supporting popular trading platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, IC Markets equips traders with advanced charting tools and various order types, enhancing their trading experience.
In addition to Forex, IC Markets offers Contracts for Difference (CFDs) across multiple asset classes. This includes access to global markets such as stock indices, commodities, cryptocurrencies, bonds, and futures. Traders have the ability to diversify their investment holdings and profit from market prospects across multiple industries.
Recognising the growing interest in cryptocurrencies, IC Markets provides trading options for cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin, and more. Traders can engage in spot or CFD trading to speculate on price movements without owning assets.
IC Markets offers different account types to suit traders’ preferences. Its primary offer is the Raw Spread account, ideal for high-frequency traders, scalpers, and those requiring precise order execution. It provides institutional-grade liquidity and ultra-low spreads. On the other hand, the True ECN Account offers direct market access, tight spreads, and transparency. It is well-suited for professional traders who value competitive pricing. While these account types cater to specific trader preferences, some may prefer more diverse options optimised to different trading strategies or risk profiles.
- 60 currency pairs.
- Over 20 global indices.
- 23 Indices.
- 2100 stocks from ASX, Nasdaq & NYSE.
- Over 6 Bonds.
- 13 of the most popular Cryptos.
- 4 Global Futures.
Note that these numbers are approximate and may change over time. It’s advisable to visit IC Markets’ website for the most updated information.
IC Markets understands the value of education in supporting traders on their journey. One key element is the availability of trading tools and analysis. IC Markets offers various tools, like economic calendars, market analysis, and trading signals. These resources empower traders to make well-informed decisions by staying updated on market events, trends, and potential trading opportunities.
IC Markets organises webinars and seminars featuring industry experts. These sessions cover various topics, such as trading strategies, market analysis, and risk management. Another valuable resource is the articles and guides. Those materials cover a wide range of trading topics, including technical and fundamental analysis, risk management, and trading psychology.
To provide a practical learning experience, IC Markets grants traders access to a demo account, allowing them to refine their strategies without risking their wealth. It’s an invaluable opportunity for beginners to gain hands-on experience and for experienced traders to test new approaches and refine their skills.
While IC Markets provides valuable educational resources, it’s important to note that the availability and extent of these materials may vary. The educational offerings may not cater to individual traders’ personalised needs. Some traders may prefer customised educational programs or mentorship opportunities to accelerate their learning and development further.
To combat money laundering and terrorism financing, IC Markets maintains a robust Anti-Money Laundering (AML) Policy. This includes comprehensive customer due diligence procedures, transaction monitoring, and reporting of suspicious activities. Also, IC Markets follows a Know Your Customer (KYC) Policy to verify client identities and assess their suitability for trading, ensuring compliance with regulatory requirements.
Their Risk Disclosure Policy educates clients about the inherent risks associated with trading, empowering them to make informed investment decisions. The Complaints Handling Policy outlines transparent procedures for submitting and addressing complaints, ensuring timely resolution and customer satisfaction. In executing client trades, IC Markets adheres to an Order Execution Policy that prioritises fairness, efficiency, and optimal outcomes based on market conditions.
These policies reflect IC Markets’ commitment to maintaining a secure and reliable trading environment. Traders are encouraged to review these policies on the official website and seek further clarification if needed. Understanding these policies is crucial for clients to comprehend their rights, obligations, and the level of protection offered by IC Markets.
IC Markets has a robust Financial Policy in place that encompasses various aspects related to fees, commissions, deposits, and withdrawals. This policy reflects their commitment to transparency, fairness, and client-centric services.
When it comes to IC Markets fees and commissions, its strives to maintain competitive and transparent pricing structures. They provide a clear breakdown of applicable fees and commissions on their website, enabling traders with access to information regarding spreads, overnight financing rates, and any additional charges associated with specific trading instruments or account types.
In terms of deposits and withdrawals, IC Markets offers a diverse selection of secure and convenient payment options. They aim to facilitate swift and seamless transactions for their clients. Deposits are typically processed quickly, allowing clients to fund their trading accounts promptly. Withdrawals are processed in a timely manner, yet may depend on factors such as the payment method chosen and compliance with relevant regulatory requirements.
IC Markets understands the importance of client fund protection. As part of their Financial Policy, they maintain segregated client accounts. This suggests that client funds are kept separate from the company’s operational funds, providing an additional layer of security. By segregating client funds, IC Markets ensures that clients’ deposited funds are safeguarded and can be readily returned to them when requested.
It’s important to note that certain fees, commissions, and minimum deposit requirements may vary based on the type of trading account or financial instrument selected. IC Markets provides detailed information regarding these requirements on its website, enabling clients to choose the account type and trading conditions that best suit their needs.
By adhering to its comprehensive Financial Policy, IC Markets aims to provide a transparent and client-focused trading environment. It is advisable for traders to familiarise themselves with the policy, review the fee structures, and understand the deposit and withdrawal processes to make informed decisions and enjoy a seamless trading experience.
Web & Mobile Trading Platforms
IC Markets provides a strong and intuitive trading platform, accessible both online and on mobile devices, to effectively meet the trading requirements of their clientele.
The goal of this platform is to offer a seamless trading experience across various devices, including desktop computers, laptops, smartphones, and tablets. Whether traders prefer to trade from the comfort of their desktop or on the go using their mobile devices, IC Markets’ platform ensures accessibility and convenience.
The trading platform offered by IC Markets is compatible with renowned trading software, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, allowing traders to choose the platform that suits their preferences and trading strategies best. With that being said, some traders may find the platform’s customisation options limited, as it may not provide extensive flexibility in layout and design customisation.
These platforms are well-known for their advanced charting tools, comprehensive technical analysis indicators, and customisable trading interfaces, empowering traders with powerful tools to analyse the markets and execute trades efficiently. Also, the platform offers real-time market data, allowing traders to stay updated on price movements and react quickly to market events.
One of the key advantages is its intuitive interface, which is designed even for beginners. Additionally, the platform provides access to comprehensive trade history, account statements, and performance reports, enabling traders to track their progress and evaluate their trading strategies. Market orders, limit orders, stop orders, and more allowing traders to implement their preferred trading strategies with precision and control.
It’s worth noting that IC Markets’ platform may have specific system requirements and compatibility considerations, which traders should review to ensure their devices meet the necessary criteria.
Clients of IC Markets can expect a high level of support from a team of experts who possess extensive knowledge and are committed to their satisfaction. With a deep understanding of the value of reliable and responsive support in the financial industry, IC Markets goes above and beyond to prioritise client satisfaction by offering a comprehensive customer service experience.
Customer service operates 24/7, providing timely and efficient assistance to clients and ensuring that any inquiries or issues are quickly resolved. Whether it’s technical support, account-related inquiries, or general assistance, IC Markets’ customer service team strives to address clients’ needs.
Clear and effective communication is at the core of IC Markets’ client interactions. The customer service team is highly regarded for its responsiveness and commitment to addressing clients’ diverse needs. However, some customers may prefer more personalised support or dedicated account managers, especially if they have unique requirements.
In recognition of the global market, IC Markets provides multilingual support. The customer service team comprises professionals proficient in multiple languages, ensuring effective communication with clients from various backgrounds. In addition to traditional support channels like email and phone, IC Markets offers live chat support directly on their website, enhancing accessibility and convenience for clients.
IC Markets emphasises the significance of providing excellent customer service. Their customer service team is dedicated, responsive, and available 24/7 through diverse communication channels. This gives clients confidence in IC Markets’ ability to deliver reliable support, timely assistance, and a trading experience that aligns with their expectations.
- IC Markets offers robust and user-friendly trading platforms.
- The broker provides a diverse selection of tradable instruments.
- IC Markets is known for offering competitive spreads.
- IC Markets offers a relatively limited range of payment methods for deposits and withdrawals.
- Clients who have inactive accounts for an extended period may be subject to inactivity fees.
- IC Markets requires a higher minimum deposit compared to some other brokers.
Famous for its wide selection of financial products and advanced trading platforms, IC Markets has earned a solid reputation as a reputable Forex and CFD broker. With a dedication to exceptional customer service, IC shines through its round-the-clock availability, multilingual support team, and prompt assistance across multiple communication channels.
In addition to its comprehensive trading services, IC Markets provides traders with abundant educational resources to enhance their trading skills and knowledge. It must be said that those resources can be limited for traders who have just begun their journey. IC Markets excels in providing a convenient trading experience with its user-friendly website and well-organised interface.
Written: Gloria Simone
Edited: Olive Harper
Fact-checked: Ella Sparks