IC Markets Review
4.5
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.32% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
IC Markets sets itself apart by offering a remarkable trading environment. The provision of commission-free trading, particularly for the highly sought-after MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, instantly captures the attention of traders. This no-commission approach, combined with tight spreads and rapid execution, positions IC Markets as a favorable choice for cost-conscious traders.
IC Markets offers a range of account types to cater to varied preferences. Whether you're a beginner seeking simplicity or an expert demanding enhanced trading conditions, IC Markets presents options such as the Standard, Raw Spread, and cTrader accounts. This flexibility ensures that each trader can select an account tailored to their trading style and objectives.
IC Markets operates under the supervision of stringent regulatory bodies, notably including the Australian Securities and Investments Commission (ASIC) and the Seychelles Financial Services Authority (FSA). This regulatory presence underscores IC Markets' commitment to transparency and compliance, assuring traders of a secure trading environment.
IC Markets emerges as a compelling choice in the brokerage realm, championing favorable trading conditions, robust platforms, and an array of trading instruments. Its commitment to regulatory compliance, coupled with diverse account offerings and customer-centric support, solidifies its standing as a broker that caters to the evolving needs of traders.
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Free deposit and withdrawal
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Safeguarding against negative balances
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Forex fees at a lower rate
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Regulated by several authoritative bodies
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Effortless and swift account opening
Overview
Year founded
Minimum deposit
Withdrawal fee amount
Available Offerings
Platforms available
2007
200$
0$
Forex, CFD, Crypto
Desktop, Mobile, Web
Account Opening
Getting started with IC Markets is a breeze, thanks to their user-friendly and entirely digital account opening process, complemented by swift verification procedures. IC Markets thoughtfully extends a risk-free opportunity through their free demo trading account. This provides beginners a 100% risk-free environment to practice forex trading. It's worth noting that the IC Markets demo account maintains its validity for 30 days, expiring after a period of inactivity. IC Markets offers three account options, each catering to diverse trading preferences: 1.Standard Account: Featuring higher spreads and available for individual, joint, and corporate ownership. Commission per lot: $0. 2.True ECN with MetaTrader Account: Lower spreads and open to individual, joint, and corporate ownership. Commission per lot: $7. 3.True ECN with cTrader Account: Lower spreads and available for individual, joint, and corporate ownership. Commission per lot: $7. It's noteworthy that all account types can also be Islamic or swap-free. IC Markets welcomes customers from around the world. However, it's essential to recognize a few exceptions, including countries such as the US, Canada, and Israel. The process of opening an IC Markets account is straightforward and fully digitized. The online application approximately takes 10 to 15 minutes to complete, and the verification process is swift. Opening an IC Markets account is simple to complete by those five steps: 1.Provide Contact Information: your name, email address, and other details. 2.Enter Personal Information: your date of birth, address, and additional personal particulars. 3.Choose Account Type and Base Currency: Tailor your choice of account type and base currency to your preferences. 4.Complete a Trading Experience Survey: Contribute insights about your trading background through a survey. 5.Verify Identity and Residency: Wrap up the process by uploading essential documents, including a copy of your passport or ID, along with a bank statement or utility bill.
Safety
IC Markets is regulated by multiple esteemed financial authorities worldwide. However, it's important to note that the company isn't publicly listed on any stock exchange and does not disclose its financial information openly. IC Markets operates under the regulation of the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Supervisory Authority (FSA), and the Australian Securities and Investments Commission (ASIC). Depending on your country of residence, the opportunity to open an account with one or more of IC Markets' legal entities is available. This distinction holds significance, as the level of investor protection and the overseeing regulatory body differ based on the entity you associate with: - For all other countries apart from Australia: Protection amount is not provided, regulated by the Seychelles Financial Supervisory Authority (FSA), and the legal entity is IC Markets (SC) Ltd. - Australia: Protection amount is not provided, regulated by the Australian Securities and Investments Commission (ASIC), and the legal entity is International Capital Markets Pty Ltd. - EEA countries (excluding Belgium, Switzerland, and Latvia): Protection amount is set at €20,000, regulated by the Cyprus Securities and Exchange Commission (CySEC), and the legal entity is IC Markets (EU) Ltd. It's reassuring to highlight that IC Markets extends negative balance protection for retail customers. In cases where your account balance ventures into negative territory, you can rest assured knowing you're shielded from such circumstances. Established in 2007, IC Markets is headquartered in Australia.
Risk Disclaimer
Trading securities carries a significant level of risk. When it comes to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is substantial exposure to various risks. These risks include, but are not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility. They can have a significant impact on the price or liquidity of a currency or related instrument. It is important to note that the methods, techniques, or indicators provided in these products may not necessarily yield profits, and there is a possibility of incurring losses. For more information on the risks associated with forex trading, please refer to further resources.
Summary
IC Markets offers a seamless and easily accessible entry point into the dynamic world of trading. Their comprehensive range of account options, coupled with a streamlined online application process, sets the stage for a user-centric experience. A notable convenience is the absence of charges for both deposits and withdrawals, ensuring a smooth financial interaction for traders.
However, it is essential to acknowledge that IC Markets exclusively concentrates on providing forex and CFD products for trading. While this specialization caters to the diverse needs of traders, it is imperative to underline that non-EU clients do not fall under the protective umbrella of any investor protection scheme. This underscores the necessity for meticulous consideration before embarking on trading endeavors.