IC Markets’ accounts are generally affordable and cater to the needs of different types of traders. The broker has set its margin call at 100% and stop out at 50%, which combination is better for less experienced traders. IC Markets also offers the Advanced Trading plugin, offering access to 20 exclusive tools for advanced trade execution and management, as well as advanced market data, alarm setting, and more.
The company is regulated by multiple financial authorities, ensuring compliance with industry standards and providing a secure trading environment for clients. IC Markets provides competitive spreadsand fees compared to other brokers. The broker offers variable spreads thatstart at 0.0 pips, with no commissions on forex trades.
- MetaTrader 5, available through IC Markets, offers a sophisticated platform for traders seeking advanced trading features and expanded product offerings.
- Agents will respond although you will feel they are also chatting with another customer so any following questions will have a delayed response.
- This saves time and helpstraders in making better trading decisions.
- To experience the ULTRA advantages of IC markets, join them from this very moment.
- The broker also has no handling fees, maintenance fees, or inactivity fees.
Equity traders pay a commission of 0.10% per trade, except for the US, where the fee is $0.02 per share per side. IC Markets presents beginner traders with a fantastic educational platform. I recommend new traders begin with the video tutorials and then the 10-lessons Getting Started trading course. Seven experts host them in English, Spanish, Chinese, Portuguese and Thai. The podcasts, hosted by two presenters, add value and remain very popular among a younger generation of traders.
But IC Markets hosts its own MetaTrader servers in its data center in New York. Hence, depending on which account you are opening, the latency and order execution will vary. However, we found that the order execution is exceptionally quick regardless of which account you are trading from because orders are routed via the liquidity providers closest to the server location. IC Markets has a commission-based Raw Spread account with costs between $6 and $7 per lot.
The popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms are available, along with the IC Markets web trader and mobile trading apps. These platforms are equipped with advanced charting tools, technical indicators, and automated trading capabilities, allowing traders to execute trades efficiently and monitor their positions in real-time. The allegations against the broker are mostly unfounded and lack substantial evidence.
Furthermore, IC Markets provides negative balance protection, which protects customers from losing more money than they have deposited, an important safety in turbulent trading situations. In addition, the broker maintains an insurance policy to cover customers in the unusual case of default. Established in Sydney, Australia 2007, IC Markets has become a renowned online retail forex and CFD broker. It is revered for its commitment to offering traders a secure and transparent environment, catering to skilled experts and beginners.
Islamic accounts are also known as swap-free accounts and were created for clients who cannot earn or pay interest due to their religious beliefs. All the account types provided by IC Trading can be opened as an Islamic account. Over the years, IC Markets has received numerous awards and accolades for its excellence in the forex trading industry. These awards recognize the broker’s exceptional trading conditions, technological innovation, and commitment to customer satisfaction.
Spreads
Moreover, the broker stands out for its diverse selection of platforms and tools. The broker’s spreads on its Standard account are better than the industry average for instruments from all available asset classes. Moreover, day traders can stay on top of the trading opportunities currently developing with the penetrating content from Trading Central and Autochartist.
Commission-Based Accounts
Based on our findings, it is clear https://traderoom.info/ic-markets-forex-broker/ that IC Markets is a legitimate broker that operates in accordance with industry standards and regulations. After conducting a comprehensive review of IC Markets, it is clear that the allegations against the broker are mostly unfounded. IC Markets is a legitimate broker that operates in accordance with industry standards and regulations. Traders should always be cautious when choosing a broker and do their own research before investing their hard-earned money.
- Margin calls and margin stop-outs occur when the broker is trying to protect your account from big losses or even a negative balance.
- In today’s world, where online scams are becoming more prevalent, it is understandable that traders may have concerns about the legitimacy of brokers like IC Markets.
- The broker has published several hundred webinars on its YouTube channel in multiple languages.
- Today I could not navigate and activate a new demo account with specific conditions, and the live agent was able to help soonest.
- That’s when big gaps may occur and execute your stop loss away from where it’s set.
- The MetaTrader platform is also suited for traders who conduct a large number of trades, but the $3.5 USD commission per standard lot increases the cost of doing business by 16.7%.
A quick comparison of different accounts offered by IC Markets
Bonds are really rare to find on Forex/CFDs brokers, and it’s good to find that IC Trading gives you a good selection of the most popular bonds in the world. All of them come from the US market (Nasdaq and NYSE exchanges) and from the Australian market (ASX exchange). First, you have access to the metals market, where you can trade Gold, Silver, Platinum, and Palladium. The order matching engine located in the New York Equinix NY4 data center processes over 500,000 trades per day. Withdrawals at IC Markets are normally processed within 1 to 10 business days.
FOREX.com excels in tradable instruments, with a range that only a few CFD brokers can match. Clients have access to thousands of CFDs on forex, commodities, indices, stocks, and cryptocurrencies. Additionally, FOREX.com goes above and beyond by offering CFDs in ETFs, bonds, sectors, and thematic indices. The flagship Web Trader platform is feature-rich, highly customizable, and includes advanced charts from TradingView. Performance analytics provide real-time statistics to help fine-tune your trading performance.
Should you have a negative balance on your account, we suggest you contact us as soon as possible. Also, similar to the web version of MT4, you’ll also be given access to use the multi-language option in your mobile trading app. Though, it can be a hassle sometimes as you’ll also have to change the default language of your device.
EUR/USD spread on the Raw Spread Account really is close to 0, in our case, it was 1 point although IC Markets states that 60% of the time it is 0. Other pairs do not go over 3 pips, the exotic even have surprise spreads like NOK/JPY – 1.4 pips, USD/TRY – 15 pips, USD/CZK – 4 pips, EUR/SGD – 4 pips and so on. Finally, the Cryptocurrencies range is not extended but enough, It may not satisfy alternative crypto traders to the full. A total of 10 currencies without any other quote currency except the USD. These are Bitcoin, Litecoin, Dash, Ripple, Ethereum, Bitcoin Cash, IOS, Emercoin, PeerCoin, and NameCoin.
My email inquiries were answered almost immediately, and the responsive 24/7 live chat support proved to be very convenient. If you want to learn more about brokers’ regulations, be sure to check out our article on the top regulated forex brokers. FOREX.com and IC Markets are two global leaders in the world of forex and CFD trading with rich and varied offerings.