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IC Markets Complete Review | With All Facts and Figures

IC Markets is trending due to its consistent upright user experience, low spread deals, beneficial trading instruments, easy deposit and withdrawal structure, and reliable bond with Trade Unions.

What are IC Markets?

IC Markets is a broker that allows online trading with the help of many reliable resources and tools. It grants traditional trading, automated trading, and copy trading. It also postulates reading material to the users to understand IC Market terminologies and functions better.

IC Markets is hard-hitting to its competitor due to its vast area of operational platforms. IC Markets are driving high user experience via web trading and mobile trading. See graph 1.1 for IC Markets online Forex trading platforms.

IC Markets Online Trading Platforms Figure: 1.1

IC Markets Commission and Fees 

IC Markets commission and fees rely on the “Account Type,” There are three account types available for the traders/users to select.

  1. Standard Account
  2. Raw Spread Account – Meta Trade
  3. Raw Spread Account – cTrader

Standard Account 

IC Markets Standard Account is a non-commissioned account however utilizes 0.6 from spreads in pips. It has an MQL4 programming language and can use by the regular trader but is only suitable for discretionary traders. It is the cheapest Account IC Markets offers to its traders.

Raw Spread Account – Meta Trader

This Account is recommended by the trader community and the IC Markets itself. It is expensive as compared to the rest of the two accounts. It is a commission-based account, which takes $3.5 commission on every 100,000 units or $7 per lot roundturn. Overall, it yields zero spreads or pips. It is picked for EAs & Scalpers.

Raw Spread Account – cTrader

This Account takes a commission less than the above, such as it only takes $3.0 commission on every 100,000 units or it takes $6 for per lot roundturn. This Account is suitable for most traders, including Day Traders & Scalpers.

Moreover, IC Markets requires a minimum $200 deposit for opening any account (3 account types mentioned above) but does not charge any deposit fee or withdrawal fee. However, when traders send money from any account (i.e., bank or any) to IC Markets or withdraw money from IC Market to any other account (i.e., bank or any) so traders might get an intermediary fee from the other accounts (i.e., bank or any). That fee doesn’t come under the umbrella of IC Markets.

Aside from this, IC Markets doesn’t charge for any inactivity on your Account; it has only a trading fee (as mentioned above). IC Markets both Raw Account offers deep liquidity and fast order execution that helps the trader manage their trade.

Aside from this, IC Markets CFD fee is higher than other brokers. For instance, if a trader holds a long position for a week for $2000 in S&P 500 index, the trader will be charged a $1.6 IC Market CFD fee. While in Europe 50 index, the charges will be $1.7 IC Market CDF Fee. That balance is comparatively higher than other trusted brokers. From the perspective of commission and fee, IC Market reviews four out 5.

IC Market Pros And Cons 

IC Markets Compliance and Regulation

IC Markets is a Forex trading broker that is mainly regulated by four major sectors such as;

  1. Australian Securities and Investments Commission (ASIC)
  2. Securities Commission Bahamas (SCB)
  3. Cyprus Securities and Exchange Commission (CySEC)
  4. Seychelles Financial Supervisory Authority (FSA)

Moreover, IC Markets has also become acquainted with global authorities of regulation to protect the trader’s money, such as IC Markets safes client’s funds in segregated accounts that are secure and protected with top tier banks.

Online trading is nothing but a risk of making more money or losing everything. IC Markets has stressed that clients’ funds are always protected with them, but regulations apply to allowed currencies and countries. Check the country and currency IC markets are offering.

IC Markets Reliability & Steadfastness

IC Markets won an award, “Forex Magnates Awards Best Retail Broker Execution winner,” in 2013, and it happened due to its fast order execution.

The client faces significant loss due to slippage. Sometimes, a client places its order, and suddenly prices hit either high or low, affecting the bid. The client has to undergo the loss.

But IC Markets uses fiber-optic networks and provides a reliable and Steadfastness network to its trader to reduce the loss via slippage. They have two Equinix data centers successfully operating the system in London and New York. That methodology helps the client to place or execute their orders at a fast pace.

IC Markets also update the prices in real-time, which helps their customers to know the current prices, and that ultimately makes the further action of trading easy and reliable.

In this respect, IC Markets scores five out of 5 and grants a reliable and steadfast network.

IC Markets – Automated Forex Trading Platform

IC Markets has become one of the famous and well-reputed automated forex trading platforms. The primary role of “Algorithm Trading/Machine Trading/Automated Trading” is to perform trading responsibilities of buying and selling without the physical labor of humans.

IC Market has a pre-design algorithm; the software/computer reads the market data and performs the necessary action in less than a second. The system doesn’t acquire human presence or night shift, the most tiring procedure done by the algorithm.

Clients can connect their IC Markets account to auto trading or open a new account with an auto-trading feature. Both options are available. Here is the link to open an automated forex trading account with IC Market.


IC Markets User Experience

IC Markets is enhancing the user experience by providing multiple options in trading, vast technology & tools, and other friendly benefits. First, IC Markets grants three major trading platforms: cTrader, MetaTrader 4, and 5. All of them are consistent in trading and trustworthy.

Secondly, a trader or client took advantage of these benefits on their mobiles, desktops, and web browsers. All features are available on these devices and are user-friendly.

IC Market Overview – Table 

IC MarketsDetails 
Trading PlatformscTrader, MetaTrader 4 and 5
Account currencyUSD, BTC, AUD, HKD, GBP, NZD, CAD, CHF, SGD, JPY, NZD
IC Markets Leverage1:1 to 1:500
Min Order0,01–250
InstrumentsCrypto, bonds, metals, commodities and stocks
Stop Call50% /100% – 80%/120%
Demo AccountAvailable
Liquidity providerNAB, Westpac
Trust ManagementNo
Withdrawal OptionsVisa/MasterCard, Union Pay, PayPal, Skrill, POLI, Neteller, BPay, Rapidpay, Bitcoin Wallet, Klarna,
Withdrawal Time – electronic payment                  Instantly
Withdrawal Time – Bank Card2 to 5 Days
Copy TradingAvailable

Moreover, IC Markets have added alarm managers to buzzer the trader for essential notifications. Similarly, users can gain assistance from sentiment maps and correlation metrics. These features are introduced to make trading easy and reliable for the trader.

Besides this, IC Markets has been uploading blogs, educational content, videos, and much more to enlighten the methodology and criteria of IC Markets. In addition, they also have active customer service that helps the users get their answers within seconds.

Final Thoughts on IC Markets

IC Markets has won the “Best ECN Broker Award” in 2019 from “ADVFN International Financial Awards,” and many other accomplishments have been done by IC Markets that help them to avail the user interest. The collective IC Markets review score of 4.5 out of 5 aroused the users to avail their Accounts.

IC Markets’ minimum deposit is $200 only, and that makes it a stronger competitor to the other brokers. Moreover, the IC Markets cTrader account also provides benefits to the user according to their need.

Apart from this, IC Markets also provides VPS services, FIX API, and Myfxbook, granting automated forex trading. Users can trade in more than 60 currencies and make their own deals.