Deep dive IC Markets Review

IC Markets user-ratings: $200
  • Asset varierity - 0/10
    0/10
  • Trading platform - 0/10
    0/10
  • Support - 0/10
    0/10
  • Fees - 0/10
    0/10
  • Deposit/Withdrawal - 0/10
    0/10

Facts about the company:

  • Type: Forex and, CFD Broker 
  • Regulation: FSA (Seychelles), ASIC (Australia) 
  • Minimum deposit: $200
  • Demo account: Free
  • Markets: 232+ Forex, CFDs, Commodities, Stocks, Indices Bonds
10/10
Comments Rating 10/10 (1 review)

Pros

  • Spreads from 0.0 pips
  • Leverage up to 1:500
  • Micro-lot trading from 0.01 
  • Fast order execution
  • Zero commission
  • Instant deposit

Cons

  • Lots of information are necessary for opening a demo account

What is IC Markets?

IC Markets is a global True ECN Forex broker and offers trading solutions for interested day traders, scalpers and traders. Beginners and experienced Forex traders can feel addressed by IC Markets. In this context, IC Markets provides all its clients with several technically sophisticated platforms on which trading with different stocks is possible. The trading platforms are characterized in particular by low latency and above average liquidity.

The special feature is that online traders at IC Markets have the opportunity to influence the pricing and liquidity, which until recently was only possible for investment banks and wealthy private clients. IC Markets is revolutionizing online Forex trading.

Screenshot of the IC Markets landing page

IC Markets management has a broad range of experience in Asian, European, and North American Forex, CFD, and equity markets. By providing this experience, IC Markets is able to provide clients with the best technological solutions and the highest liquidity available in the market.

IC Markets Head Office in Sydney

The foreign exchange broker IC Markets was established in 2007 in Sydney, Australia. The company was founded by a professional team from the financial industry, which previously contributed significantly to the development of one of the most successful CFD and Forex providers.

The vision of IC Markets

IC Markets’ vision is “to create the best and most transparent trading environment for both retail and institutional clients, allowing traders to focus more on their trading“.

When IC Markets was founded in 2007, its primary objective was to bridge the gap between retail and institutional clients and provide a solution that was previously only available to banks and high net worth individuals.

With the IC Markets True ECN account, the company provides an exceptional technology that will be discussed in more detail later. In addition, the Australian Forex and CFD broker is focused on continuous innovation and improvement of state-of-the-art technology for its customers.

IC Markets was created by traders for traders and is therefore intended to offer optimal spreads and outstanding service to all those interested in the stock market. In the course of developing a corporate philosophy, the following points can be found on the IC Markets website.

  • Integrity and Trust
  • Honesty and fairness
  • Transparency
  • Obligations and responsibilities
  • Reliability
  • Flexibility
  • Constant innovation
  • Strong corporate governance
  • The structure of the website

A few words can also be said at this point about the structure of the website. The structure of IC Markets’ website makes it easy to get a quick overview of the various topics. Those who do not want to waste any time and want to get started right away will find all the information they need under the “Quick Start” tab to get started directly with the relevant product.

If, on the other hand, you want to take a closer look at the background information on the products and trading platforms offered, you will find a neat arrangement of all the necessary information under the “Trading” and “Partnerships” tabs.

In general, a high degree of usability for the user is emphasised, navigation between individual pages is uncomplicated.

How is IC Markets regulated?

IC Markets is regulated in accordance with Australia’s legal framework, laws, regulations, and standards. For this reason, compliance with them is a top priority for the management and the board. The foreign exchange broker is in close cooperation with the Australian banks Westpac and the National Australia Bank (NAB). The money invested by customers is used exclusively for the intended purposes.

The authorities responsible for regulation are the so-called ASIC (Australian Securities and Investment Commission) and the FSA (Seychelles Financial Services Authority), which ensure that all regulations are complied with. The ASIC is the financial services regulator in Australia, which is responsible for ensuring that the financial market is fair and transparent. It is an independent institution of the state government agency.
In addition, IC Markets employs an independent auditor within the company to monitor compliance with regulatory obligations and operational processes at all times.

What advantages does IC Markets offer?

IC Markets has become the world’s largest MetaTrader 4 and True ECN broker by offering its clients optimal trading conditions and spreads. Let’s take a closer look below at what makes IC Markets an advantage for clients.

Tighter Spreads


As mentioned above, part of IC Markets’ corporate philosophy is to offer traders the best spreads at all times. To this end, IC Markets always provides the best technology and maintains partnerships with the largest liquidity providers. In order to provide clients with ideal trading conditions at all times, IC Markets constantly adds additional liquidity to the trading environment.

Faster execution


The use of hardware for the Forex Broker’s servers, whose NY4 and LD5 data centers are located in New York and London, is at corporate level. At the same time, the trading servers are also connected to the ECN engine and the liquidity providers. These connections ensure very low latency and the fastest execution of trades for all traders.

Superior Technology


IC Markets has teamed up with the largest companies in the field of trading technology to provide traders with ideal conditions and state-of-the-art trading tools. These tools include an optimal depth of market (Depth of Market – DoM), built-in spread controlling, ladder trading, and automatic closing of trades with corresponding order patterns. In addition, the trading systems for the iPhone and Android were optimized to allow ideal mobile trading.

Customer service without competition


A further goal of IC Markets is to offer customers the best possible support. For this reason, IC Markets’ team of experts has extensive experience in the financial industry to ensure that clients’ concerns are quickly understood. The Online Foreign Exchange Broker’s staff is available 24/7 and is always on hand to answer clients’ questions.

State-of-the-art trading instruments


Add-ons for MT4, such as a module for one-click trading, market depth, spread monitor and trading risk, ensure that customers can gain target-oriented trading experience and trade more successfully.

Superior trading platforms


The platforms MetaTrader 4, MetaTrader 5, and the cTrader are currently three of the best on the market. IC Markets now provides clients with access to the True ECN trading environment while using the aforementioned trading platforms.

Transparency and trust


The values of trust and transparency are held high at IC Markets and are among its core characteristics. As the company is a True ECN Broker, there are no forex quotes, price manipulations or restrictions.

Ideal trading conditions


Another advantage offered by IC Markets is the True ECN trading environment, which means that traders are no longer hindered by trading restrictions. For this reason, it is possible to trade even within the spread. Scalping, hedging, and automated trading are also possible.

Better execution


Trading via ECN Trades can in principle be chosen from the order of 1 micro lot (1,000 base currency) up to 250 lots (25 million base currency). The prices are constantly updated and ordered so that larger transactions can be easily executed in real-time via various liquidity providers. This guarantees the best possible price, regardless of the size of the trade placed.

Which markets are tradable?

IC Markets offers a range of different markets so that users can take advantage of the best trading options available around the clock. Below is a clear list of the markets that are available for trading at IC Markets.

Forex


In the Forex market, clients can trade 24 hours a day for five days a week. Traders get the tightest spreads, superior execution, and deep interbank liquidity on more than 60 currency pairs.

Indices


IC Markets’ CFDs allow clients to take positions in the major stock markets. With spreads starting at 0.5 pips on 16 indices, traders get an ideal view of the stock market. In addition, trading is free of commissions. There are 17 tradable indices from around the world.

Commodities


On IC Markets, trading in more than 19 different commodities is possible, whether energy, agricultural commodities or metals. Prices are kept tight and lot sizes are flexible, so that traders can be offered a good product.

Shares


More than 120 shares & ETFs from the ASX, Nasdaq & NYSE can be traded on IC Markets. A range of the most popular companies and ETFs is available to ensure the best trading options are available to all interested traders.

Bonds


In addition, more than six bonds are available for trading, giving traders the opportunity to speculate on interest rates and market sentiment regarding risk appetite. The bonds that clients can choose from are issued by countries around the world, including Japan, Europe, the UK, and the US.

Cryptocurrencies


In addition, the most popular and largest cryptocurrencies can also be traded on IC Markets, both long and short. Customers can also trade here 24 hours a day for five days a week and receive the best possible support. By trading with an ASIC-regulated broker, the counterparty risk can be eliminated.

Futures


Futures are among the most popular forms of CFDs. Traders have four global futures available for trading, including the ICE Dollar Index and the CBOE VIX Index. The futures offered by IC Markets are offered exclusively on the MetaTrader 4 trading platform.

What account models are offered?

All offered account types include the True ECN offer and the wide range of products. The platforms are suitable for both beginners and advanced traders. According to IC Markets, it makes sense to choose the True ECN account model for several reasons.

First, the True ECN account offers some of the tightest spreads available. An average spread at EUR/USD is 0.1 pips and the commission of 3.50 USD per lot is relatively low.

As the True ECN account has a large number of liquidity sources available with over 50 different banks, this account is practically made for day traders, scalpers, and expert advisors. The servers of MetaTrader 4 and 5 as well as of True ECN are located in New York and are therefore very close to the liquidity partners, whereby unnecessary latency periods can be avoided. The True ECN trading platforms MetaTrader 4 and 5 are the most popular choice for traders and scalpers globally.

The advantages of a True ECN account

True ECN Connectivity


True ECN connectivity enables IC Markets to offer its clients market-leading prices and conditions via the MetaTrader 4 and MetaTrader 5 trading platforms. In addition, True ECN connectivity enables trading in institutional liquidity provided by global investment banks, hedge funds, and dark pool liquidity providers.

The high level of diversification resulting from a number of up to 50 different liquidity providers makes IC Markets a favorite among high volume traders.

MetaTrader4

Fast order execution


As we already know, IC Markets’ trading platform servers are located in the Equinix NY4 data center in New York. It is home to over 600 trading houses, exchanges, and trading venues.

The MT4 and MT5 are cross-connected to IC Markets’ ECN to ensure very low latency and fast trade execution. The latency time is less than 1-millisecond trade to the VPS providers, which are usually connected directly to the data center.

MetaTrader5

The cTrader ECN Account


The development of the cTrader was done especially for the use in a True ECN environment. As has been made clear before, IC Markets has some of the tightest spreads of any broker in the world.

There is no minimum spread on the cTrader trading platform, furthermore the spreads for EUR/USD are often around 0.0 pips. Taking into account 24/5 trading, the average spread for EUR/USD is 0.1 pips. Comparing this with brokers worldwide, this is the tightest spread at the moment.

In addition, the diversified liquidity mix of up to 50 different providers makes it possible to guarantee the customer liquidity at all times and to keep the spreads tight, especially in the event of high volatility (e.g. when important news is published).

cTrader

The Standard Account


The MetaTrader Standard account also has a very fast execution speed and offers spreads starting from as little as 1 pip.

With a Standard Account, things are kept simple. You can take advantage of True ECN connectivity with an “all-inclusive spread” and no commissions.

How do I deposit and withdraw funds?

IC Markets offers over 14 different payment options in 10 different currencies. When a client deposits funds to their trading account, the funds are held in a dedicated account with NAB (National Australia Bank) and Westpac. These Australian banks have an AA rating, and electronic payments are made using SSL encryption technology to ensure a high level of security for customers. All information submitted for this purpose is kept confidential. IC Markets does not charge any fees for deposits or withdrawals, although fees may be charged for international banking transactions.

Withdrawals by credit/debit cards are also free of charge and may take 3-5 business days to arrive at the credit card. For withdrawals requested by international bank transfer, there is a fee of approximately $20 Australian dollars which is deducted from the amount to be withdrawn.

Trading Conditions

IC Markets’ True ECN system offers the most aggressive trading conditions in terms of pricing and flexibility. These are optimal for all traders for whom ideal execution quality and small spreads are essential.

  • Spreads: The high number of different banks and liquidity sources and the low latency servers ensure that trading is always possible at the best price. On the MT4, MT5, and cTrader True ECN platforms, 0.0 pips wide spreads are available in some cases.
  • Execution: In order that trades can be executed very quickly at the expected price, the entire trading process is automated. The True ECN Broker promises ideal market depth and 100% execution.
  • Margin and leverage: On IC Markets, a leverage of up to 1:500 is possible on the Forex market. In Germany, new regulations have been in effect since the beginning of 2018 (maximum leverage at 1:30 for Forex Majors, more information on this in the chapter “What leverage is possible on IC Markets?) This means that only a comparatively small amount of money is required to finance the positions. This can result in a significant increase in profit, but losses can also exceed the initial deposit.
  • Currency Pairs: On IC Markets, the 60 different currency pairs and four metals are available on all trading platforms. The Australian Forex Broker can offer some of the lowest prices in the industry as quotations from more than 50 banks can be combined.
  • Swap rates: Furthermore, long and short swap rates are offered for all currency pairs and metals offered.
  • Trading hours: IC Markets ensures that it is obvious when the markets are open. The trading hours of the various markets can be viewed at any time.

Open a free IC Markets demo account

Interested parties have the opportunity to open a demo account at IC Markets and try out the trading platforms there. Opening this demo account is completely free of charge and offers all account types, trading platforms and products for testing. After you have registered for a demo account on the website, you will be able to choose from certain settings options.

These include, for example, the choice of the trading platform (MT4, MT5, cTrader), account type (True ECN, Standard), currency (AUD, USD, EUR, GBP, CHF, NZD, JPY, SGD, CAD, HKD), as well as leverage (from 1:1 to 1:20) and the amount of initial deposit.

In the second step, information on financial backgrounds such as annual income and work status is also requested. Finally, it is necessary to prove one’s own identity (for example, via identity card or passport) and current place of residence in order to finally activate the demo account.

What levers are possible on IC Markets?

At IC Markets, leverage of up to 1:500 is applicable on the MT4 and MT5 trading platforms. This means that very high leverage can be used in your own trading style in order to achieve large profits with small capital (assuming, of course, a higher risk).

This is interesting because since the beginning of 2018 there is a new regulation of the ESMA (European Securities and Market Authority) in the EU regarding CFD trading with leverage products. The ESMA initially distinguishes between retail clients and professional clients. The retail clients are to be protected against risks and therefore higher leverage than 30 is no longer available for this customer group.

IC Markets Partnerships

IC Markets offers a number of partnership models from which you can benefit. The following is a brief description of the various partnership programs.

“IB” – Introducing Broker


The current “Introducing Broker” (IB) program is designed to reward people for attracting new clients. There are no restrictions in terms of the number of new clients acquired or the trading volume. The main features of the IB program as identified by IC Markets include the following:

  • Attractive compensation program
  • ASIC licensed and regulated broker
  • Individual IB Account Manager
  • Payment of commissions to the account in real-time
  • Advertising material in several languages
  • Cookie tracking and web reporting
  • All clicks, impressions, and registrations can be tracked

For more detailed information, the website of IC Markt also provides a brochure explaining more details about the partner program.

“Money Manager”


IC Markets’ Money Manager (MAM) partnership program provides the ability to manage clients’ money with market-leading pricing and execution. It is an asset management program.

The True ECN model ensures that asset managers’ trades are executed at the desired prices, even if the volume is large. As a result, better returns can be achieved on the one hand, and on the other, asset managers gain control over fees, which optimizes returns for all parties involved.

Below is a list of some of the other features of the Money Manager Program:

  • All trading conditions (spreads, commissions, performance fees, etc.) can be adjusted
  • Commissions and performance fees are calculated automatically
  • Wide range of products
  • Report analyses, which can be shown to the customers
  • Possible solutions for manual traders

“White Label”


The “White Label” partnership program offers an opportunity to access IC Markets’ liquidity and technology at low cost and risk. Alternatively, liquidity can be easily selected via one of the numerous connection options.

As the White Label Program is designed for start-up companies with a detailed business plan and brokers with a client base, the requirements for use are a minimum monthly volume of $500 million and an established client base.

Affiliate Programs

IC Markets also offers an affiliate program, which rewards the acquisition of customers with profit sharing, commissions, and bonuses. If you wish to benefit from this, you must first register with IC Markets’ “Introducing Broker” program. In addition to clear customer onboarding, another advantage is that commissions are paid in real-time and marketing material is provided in ten different languages.

What training opportunities are available at IC Markets?

IC Markets offers a wide range of training opportunities, which can be used. In addition to an extensive blog containing articles on the basics of trading and news from the financial markets, video tutorials are also offered.

Furthermore, traders are to be trained in the use of trading platforms. For example, the video tutorials give an overview of how MetaTrader 4 can be installed and how different types of orders can be placed.

Customer support

IC Markets’ customer service is available 24 hours a day, seven days a week. Customer support is available via e-mail, live chat, telephone and contact form. IC Markets’ Chinese trading partners enjoy special rights as they can use their own support web addresses. But traders from other countries can also rely on a reliable service.

Support available:24/7
Telephone:+61 (0)2 8014 4280
Adress:enquiries@icmarkets.com
Languages:2+

Conclusion

The ASIC and FSA regulated broker offers not only a user-friendly website but also serious and transparent trading conditions. Therefore IC Markets can be considered serious. Thanks to the fair trading conditions and versatile account models, both beginners and professionals in trading can benefit from the online broker.

Thanks to the always available customer service and a worldwide FAQ section, trappers are always in good hands.


Most asked questions:

Are regional partnerships offered?

Yes. IC Markets sees itself in a position to help develop regional business by offering its extensive support and training. In this way, business partners can benefit from a hybrid revenue-sharing model and global brand awareness.

What trading accounts are offered?

Traders can choose between three account options: The cTrader account, the Raw Spread account, and the Standard account. All are open up with a deposit of $200.

What trading platforms are available?

A trader can trade with the world-leading MetaTrader 4 and MetaTrader 5 platforms. Trading is possible on both stationary and mobile devices. Moreover, trading with cTrader is available. cTrader can also be traded via mobile devices.

Are there additional trading tools?

Customers of IC Markets can benefit from four additional trading tools: MAM, virtual private server, trading servers and MT4 advanced trading tools. All tools add value to the trading experience.

One Response

  1. Andre Witzel September 21, 2020

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