New IC Markets broker review – 2021 Update
IC Markets is a trustworthy and recognized online trading broker based in Sydney, Australia (Regulated by ASIC).
The internet broker is well-known in Australia and is regarded as the greatest internet broker readily available from there since it features the greatest accessible leverage in Australia, low fees and spreads, etc.
The trading broker attempts to bridge the gap between retail customers and large institutional investors by providing investment options that were once only provided by investment banks and high net-worth individuals. IC Markets primarily provides their dealers’ forex trading but also delves into a few options of futures, indices and commodities.
Reputation & Regulation
The IC Markets brokerage became licensed and regulated by the Australian Securities & Investments Commission (ASIC) in 2009 under license number 335692. The broker is famous as one of the most reliable online trading brokers. ASIC is a trusted and rigorous regulatory agency that imposes stringent guidelines and processes for IC Markets to follow.
Also, along with IC Markets ASIC law, the broker is a part of the Financial Ombudsman Service (FOS). This service enables the brokers’ customers to solve any complaints that they have in a professional and prompt manner. This gives traders an extra layer of security and client satisfaction by understanding they’ll be protected if any other problems were to arise.
The IC Markets broker also functions via two other brands that are regulated:
- IC Markets (SC) is a part of True ECN Trading Ltd and regulated by the FSA from the Seychelles.
- IC Markets (EU) is supplied for European dealers and is governed by CySec (and adheres to current ESMA limitations on leverage).
These brands provide dealers with the ability to move between each, letting them choose the degree of regulatory oversight and security they’re okay with.
Trading Platforms
IC market offers its dealers three excellent platforms. By providing three distinct trading platforms, traders are blessed with using a multitude of tools and evaluation methods to execute their own transactions.
Meta Trader4
The hottest trading platform with IC Markets is MetaTrader 4. The MetaTrader 4 stage provides traders 1-click trading options and contains customizations for market depth evaluation. It has back-testing options, advanced tools for charting, etc. Additionally, traders may trade on the move using MetaTrader4’s smartphone applications for both Android and Apple, and from any desktop through the online MetaTrader platform.
MetaTrader5
This platform has become the most recent of the MetaTrader series, and essentially is an updated version of the MT4 platform.
CTrader
IC Markets became accredited and regulated by the Australian Securities & Investments Commission (ASIC) in 2009, No. 335692. It is among the most trustworthy online trading brokers. ASIC is a reliable and demanding regulatory agency that imposes strict guidelines and procedures for the broker to follow.
IC Markets Trading Accounts
The broker supplies their dealers using 3 different account types tailored to accommodate every dealer’s requirements. The balances have their differences, but essentially all have equal capabilities.
The True ECN account provides marginally lower spreads – however, they’re extremely low across all of the accounts. Along with such accounts, traders may also practice trading with IC Markets through their live demo accounts.
Bonus & Promotion
IC Markets don’t provide their dealers with any type of bonuses. Nevertheless, this shouldn’t be regarded as a terrible thing. The broker has built a solid reputation and are proud of its own offering. They don’t wish to promote overtrading or misrepresent their goods through bonuses.
Assets
The broker doesn’t fall short in offering their customers a vast assortment of trading tools and assets. It has 80+ instruments including currency pairs, CFDs on indices, commodities, stocks and futures, precious metals, and the most popular cryptocurrencies, like Bitcoin and Ethereum.
Forex is a massive part of the IC Markets offering. Nearly all of the over 90 resources accessible to trade are currency pairs. That can be backed up by leverage of up to 500:1, lot sizes from only 0.01 (maximum size is 1, but dealers may exchange a number of lots). On the cTrader stage, spreads could be decreased to 0.0, minimizing commission and spread costs for regular traders. Average spreads are incredibly low – for instance, only 0.1 pips for EUR/USD. This could have a massive impact on reviewbrokers.online gains.
IC Markets Customer Support
The broker excels in the region of consumer care. Traders can inform themselves 24 hours a day, 5 days a week, be it over chat, email or the phone hotline. Along with this, there’s an educational support center where consumers can locate the answers to the majority of their queries.
Deposit & Withdrawal
Deposits
IC Markets offers its dealers a huge array of deposit options in 10 distinct currencies. These include AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, and CHF. In terms of deposit choices, they comprise Credit and Debit Cards, Bank Wire Transfers, Broker to Broker transfer, Branch Cash Deposit, BPay Deposit, PayPal, Skrill, Neteller, WebMoney, QIWI, China Union Pay, and FasaPay.
The majority of these deposit procedures are instantaneous and can be carried out with multiple currencies.
Withdrawals
Withdrawals can be made through lots of the very same methods as deposits. Domestic bank transfers and e-wallet withdrawals could be processed on the exact same working day and are at no cost. In terms of global withdrawals, they could take around 3-5 business days and cost $25 AUD.
Are IC Markets Suited for trading?
The broker is an excellent broker for reviewbrokers.online thanks to several factors:
- Low Spreads – With typical spreads of only 0.1 on EUR/USD, day traders don’t have profits eroded by large commission or trading expenses. IC Markets are a fantastic alternative for trading frequently.
- Education – The broker features numerous video tutorials with focus on teaching traders the several facets of trading. At the same time, they supply many guides and articles to assist their traders.
- Tools for Trading – The broker features innovative charting and analysis tools and calculators, in addition to a wide range of technical indicators used for evaluation.
- Assortment of Resources – There’s a huge variety of resources to pick from, making this brokerage ideal for day traders that are only beginning or seasoned veterans.
Accepted Countries
IC Markets accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries.
Traders can’t use the broker from the USA, Canada, Zimbabwe, Iran, Iraq, Ghana, Cote D’Ivoire, Cuba, Liberia, Niger and Togo.
