IC Markets Review 2023

IC Markets provides traders with a choice of up to three trading accounts, including the Standard, Raw Spread, and cTrader Raw Spread accounts. The Standard account is ideal for those who prefer trading solely with the bid and ask prices, without paying any commissions. On the other hand, the Raw Spread accounts, including cTrader, are recommended for investors seeking more competitive pricing, with tighter spreads for forex pairs such as the EUR/USD and USD/JPY.

IC Markets also offers swap-free accounts for traders of Islamic faith, social trading options, PAMM and MAM accounts for money managers, and more. With IC Markets' MAM software, money managers have a trusted solution that has been in use since 2012.

Furthermore, IC Markets leverage ratios are up to 30:1 for retail clients in Europe and Australia, and up to 500:1 for accounts opened with the Raw Trading Ltd entity regulated by Seychelles FSA. With a variety of account options, IC Markets caters to the needs of different traders, from beginners to professionals.

Account currencies	AUD, CHF, EUR, GBP, JPY, NZD, SGD, USD, HKD
Standard/RAW (MT4/MT5) accounts minimum deposit	200 currency units
cTrader RAW account minimum deposit	1,000 currency units
Funding methods	Bank Wire, Broker to Broker, China Union Pay, Credit/Debit Cards, Neteller, PayPal, Skrill
Deposit fees	IC Markets does not charge fees for deposits
Deposit processing times	from instant to 1 hour (bank wires up to 3 working days)
Withdrawal fees	IC Markets does not charge additional fees for withdrawals
Withdrawal processing times	variable, from instant to 1 day
Inactivity fee	IC Markets does not charge an inactivity fee

IC Markets offers a variety of 10 base currencies for account holders to choose from, including EUR, USD, GBP, AUD, SGD, NZD, JPY, CHF, HKD, and CAD.

This holds importance for a couple of key reasons. For one, when you deposit funds into your trading account in the same currency as your bank account or trade assets using your account's base currency, you can sidestep any pesky conversion fees. Additionally, it makes keeping track of and managing your account's funds a breeze, as every transaction is carried out in the same currency.

IC Markets does not charge any fees for deposits. There are multiple methods available for adding funds to your account, but certain options may not be accessible for all account base currencies.

Deposits made via bank transfer may take several business days to reflect in your account, whereas payments made using a credit or debit card are processed instantly. It is important to note that you can only deposit funds from accounts that are registered in your name.

IC Markets offers free withdrawals for credit/debit cards, bank transfers, and electronic wallets.

Withdrawals made via credit/debit cards, bank transfers to Australian bank accounts, and electronic wallets are free of charge on IC Markets. However, for international bank transfers, there is a fee of AUD 20.

IC Markets offers the popular MetaTrader trading platforms for its clients, which are known for their reliability, advanced features, and user-friendly interface. The available trading platforms include:

MetaTrader 4 (MT4)

MT4 is a widely-used trading platform in the forex industry, offering various charting and analytical tools, custom indicators, and automated trading through Expert Advisors (EAs). It is available for desktop, web, and mobile devices (iOS and Android).

MetaTrader 5 (MT5)

MT5 is the successor to MT4, offering additional features, such as more advanced charting tools, additional order types, and an integrated Economic Calendar. It also supports automated trading through EAs and offers an expanded range of built-in technical indicators. MT5 is available for desktop, web, and mobile devices (iOS and Android). Both MT4 and MT5 provide traders with the necessary tools to analyze the financial markets, execute trades, and manage their trading accounts efficiently. While MT4 remains a popular choice, MT5 offers a more comprehensive trading experience for those who want additional features and tools.

cTrader

cTrader is a powerful trading platform popular in the forex industry, known for its intuitive design, comprehensive charting capabilities, and in-depth market analytics. It supports custom indicators, and algorithmic trading through cBots, which are its version of automated trading robots. cTrader also sets itself apart with features like Level II Pricing and a fully customizable interface. It is available for desktop, web, and mobile devices (iOS and Android).

IC Markets provides an extensive selection of financial instruments and markets for traders to explore. The main types of markets and products available for trading via IC Markets encompass:

Forex

IC Markets offers access to a comprehensive range of currency pairs, comprising major, minor, and exotic pairs. This enables traders to engage in the expansive global forex market.

Indices

Traders can trade on leading global stock indices, such as the S&P 500, Nasdaq 100, Dow Jones, FTSE 100, DAX 30, and Nikkei 225, among others, offering opportunities in different markets across the globe.

Cryptocurrencies

IC Markets provides access to a range of popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple, and more, thus providing traders an entry into the volatile and rapidly expanding digital currency market.

Commodities

IC Markets presents opportunities to trade a variety of commodities, such as precious metals like gold and silver, energy commodities like oil and natural gas, as well as agricultural commodities such as wheat, corn, and soybeans.

Bonds

Traders can participate in the bond markets through IC Markets, trading on instruments such as U.S. 10-year Treasury note, German Bunds, and the U.K. Gilts.

Stocks

In addition to the aforementioned assets, IC Markets also offers opportunities to trade global stocks, with a broad range of top-tier international companies to choose from. This enables traders to diversify their portfolios and engage with global equity markets.

IC Markets publishes several blog articles daily, including technical and fundamental forecasts. While the quality of the content is adequate, it does not match the depth and richness of industry leaders such as IG and Saxo Bank.

They offer in-house technical and fundamental analysis content through their blog, as well as daily updates on their market analysis section. The Web TV section includes videos from Trading Central and brief clips that summarize market events, while the IC Markets YouTube channel features live trading sessions.

The company also shares helpful weekly market analyses on its YouTube channel. These updates can be a valuable resource for traders keen on staying current with the latest market trends. Presented by seasoned analysts, the videos cover a variety of markets and asset classes, offering valuable insights and trading ideas to enrich traders' knowledge.

IC Markets offers a good variety of educational resources for both novice and experienced traders, with more than 100 written articles and numerous videos. However, the content is not sorted by skill level, and there is no feature for progress tracking or quizzes, which are common features among the best forex brokers in this category.

The educational content is organized into six series, including Forex Trading 101 and Trading Plan 101, in the Learning center. The quality of the articles is above average compared to the industry. Additionally, IC Markets offers a podcast series called “IC Your Trade” and a YouTube channel with archived webinars.

However, IC Markets could enhance its educational offering by adding progress tracking and quizzes to its courses and including the ability to filter content by experience level.

IC Markets' customer service has been highly praised by customers when compared to other brokers, with 24/7 availability being a standout feature, which is unusual in the industry where the norm is 24/5. The hands-on support is available to traders in multiple languages, including Dutch, German, English, Danish, Polish, Japanese, and Chinese. Customers can access customer support through various channels such as phone, email, and live chat.

IC Markets' website offers 24/7 access to their live chat support. Upon initiating the chat, users are required to provide their name and email address. A chatbot provides quick options to answer some questions before connecting to a live representative when the user types "chat with an agent".

Customer feedback suggests that the wait time to connect with a live agent is generally under two minutes, and the provided answers are relevant. However, there have been instances where there was a delay of up to three minutes in receiving an answer to certain questions.

In addition to the live chat and email options, clients can also reach IC Markets via phone. The phone support is available from 10:00 PM on Sundays to 10:00 PM on Fridays (GMT) at +248-467-1976. This is a great option for clients who prefer to speak directly with a customer service representative. The phone support has been praised by customers for its quick response time and relevant answers.

IC Markets also provides a FAQ feature on its website, which can be found under the 'Help Center' section. This can be a useful resource for traders who have a simple issue that does not require active support from an agent. The FAQ section contains answers to frequently asked questions, which can save time for traders and provide them with a quick and convenient way to resolve their queries.

Is trading with IC Markets safe?
Yes, IC Markets is known for its security measures. As a regulated brokerage company, it provides a safe environment for trading.

What services are available at IC Markets?
IC Markets offers a wide range of services including online forex and CFD trading, and it's popular for its Metatrader platform.

Is IC Markets regulated?
Yes, IC Markets is regulated. It's an Australian-based brokerage company adhering to stringent financial standards for client safety.

What products are offered by IC Markets?
IC Markets offers traders access to forex, commodities, stocks, and indices. They offer two account types to cater to different trading needs.

What are the spreads at IC Markets?
IC Markets is known for competitive spreads. The specific value can vary based on the account type and market conditions.

Would you recommend IC Markets?
Yes, IC Markets has a great reputation and offers a wide range of services. We recommend considering IC Markets for your trading needs.

How much is the minimum deposit for IC Markets?
The minimum deposit at IC Markets varies depending on the account type.

Is IC Markets a scam or legit?
IC Markets is a legitimate online forex and CFD broker. It is regulated and has a good reputation among its clients.

What commissions are charged at IC Markets?
Commissions at IC Markets vary depending on the account type and trading platform. It's recommended to check the current fee structure on their website.

How can I deposit funds to IC Markets?
IC Markets offers several methods to deposit funds, including credit/debit cards, bank transfers, and various e-wallets. Remember to consider any fees charged by IC Markets.