IC Markets Review
IC Markets has exceptional trading conditions for all trading styles, including spreads from 0.0 pips, zero commission fees and superior execution speeds at the best available prices. They are a top choice for running automated trading strategies.
IC Markets has exceptional trading conditions for all types of trader, regardless of their trading style or experience level. The broker delivers a range of innovative platforms for placing and managing orders with ease. Clients get access to some of the best trading conditions of any broker, including raw spreads from 0 pips, low commission fees and superior trade execution speeds without any dealing desk interference. There are thousands of financial instruments to choose from, including forex, stocks, commodities and cryptos. This is all backed up with industry leading customer support, social trading signals and an abundance of free educational resources.
Founded way back in 2007, IC Markets are an established brokerage firm that are regulated by top tier regulators, including the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). They have an excellent range of Trading Products and services catering to all types of client. You can choose to trade by yourself with a generous selection of over 1,500 financial instruments to choose from, run automated trading systems or copy trading signals from other traders. Whatever your interest, there is something for everyone.
IC Markets are considered one of the best CFD brokers when it comes to automated trading and scalping strategies. This is because they have powerful servers that are capable of processing huge trading volumes each day. It is no wonder that IC Markets are one of the leading brokers in terms of trading volume as they have the infrastructure in place to process orders with minimal delay. They also have a deep and diverse liquidity pool which ensures that IC Markets spreads are amongst the lowest of any broker you will find. The innovative technology implemented by the broker delivers the ideal trading environment for running trading robots and day trading.
Whilst I believe that good trading conditions are of paramount importance, there are some other significant perks when you trade with IC Markets. They have commission free accounts for those who do not need access to raw spreads. If you trade enough volume, they will give you access to a free virtual private server where you can run expert advisors and trade remotely. The process of opening an account is quick and easy whilst the broker has a fantastic choice of instant funding options, without any fees. This is topped off with a plethora of guides and videos to encourage clients to make informed trading decisions. You can even get a free demo account that comes preloaded with virtual funds if you would like to try out trading online without any risk involved.
When it comes to Trading Products, there aren’t many CFD brokers who have a greater selection than IC Markets. You can trade over 60 forex currency pairs, 1,600+ stocks, 20+ commodities, 25 indices, 11 bonds and 10+ popular cryptocurrencies. Whether you are looking to buy or sell, there is something or everyone to trade. Currently, they do not offer any exchange-traded funds (ETFs). For those you may wish to check out Pepperstone instead.
IC Markets Instruments Summary
| Instruments | IC Markets |
|---|---|
| Forex | ✓ |
| Stocks | ✓ |
| Indices | ✓ |
| Commodities | ✓ |
| Cryptos | ✓ |
| Options | x |
| Bonds | ✓ |
| ETFs | x |
| CFDs | ✓ |
IC Markets has some of the best spreads you will find and very low fees. There is an option to trade on raw spreads starting from 0.0 pips, with no requotes, the best possible prices and no restrictions. IC Markets is the broker of choice for high-volume traders, scalpers and robots. Their diverse and proprietary liquidity mix keeps spreads tight 24/5. The raw spread account does include a small commission fee in addition to the spread. On the other hand, you can trade with zero commission and spreads starting from 0.6 pips.
The account type that you opt for is likely to depend on your trading strategy. Those of you who are day trading or running automated systems may require tight spreads whereas those who are holding positions for a longer period of time may prefer to trade without any commission fee. Keep in mind that the spreads and commission fees can vary depending on the instrument being traded. Overall, the broker has some of the lowest overall trading fees available to retail traders, on par with competitors such as XM Group.
Commission and Spread Fees
| Fee | Raw Spread (cTrader) | Raw Spread | Standard |
|---|---|---|---|
| Commission (per standard lot per side) | $3.0 | $3.5 | $0 |
| Spreads from | 0.0 | 0.0 | 0.6 |
Deposit and Withdrawal Fees
Although IC Markets do not charge any additional fees for deposits or withdrawals, it may be worth checking if you will incur fees on payments to and from some international banking institutions or e-wallet providers.
Inactivity Fees
There is no inactivity fee if you decide not to make use of your IC Markets account for a sustained period of time. This is great, as some brokers can sting you with unexpected costs just for not utilising your account.
When it comes to trading platforms, IC Markets are certainly not lacking in options. They have all of the most popular platforms that you would come to expect from an industry leading brokerage firm. Clients can make use of the intuitive yet powerful MetaTrader 4/5 platforms along with the sophisticated and advanced cTrader platforms that are used by professional traders. Whether you just want to enter positions or analyse every aspect of the markets, there are platforms and tools for all client needs.
MetaTrader 4
If you have ever looked into trading online, chances are that you are already aware of the MetaTrader platforms. MetaTrader 4 is an electronic trading platform widely used by online retail foreign exchange speculative traders. It was developed by MetaQuotes Software and released in 2005. The software is licensed to foreign exchange brokers who provide the software to their clients. It offers wide technical analysis options, flexible trading systems, algorithmic and mobile trading. You will find it ideal for conducting in-depth analysis on charts of the financial instruments provided by IC Markets and placing orders without any hassle.
- Fully customisable interface
- Intuitive and easy to navigate
- 7 order types (instant, pending, limit)
- 9 chart timeframes
- 30 technical indicators
- Supports automated trading
- Strategy tester for back testing trading robots
- Real time market price quotes
- Place, manage and close orders
- Create trading strategy templates
- Develop custom trading tools
- Large online community
- MQL marketplace with signals and tools
- Trading signals via email, push notifications and platform alerts
- Available on web, desktop and mobile
MetaTrader 5
As the name suggests, the MetaTrader 5 platform was the successor to the still popular MT4 platform. Whilst MT5 does maintain some of the core functionality of its predecessor, it has some enhanced capabilities. Despite that, MT4 is much more widely available from brokers and seems to be the preferred platform of choice for new forex and CFD traders. The additional features that you will find with MT5 are more advanced trading charting systems as well as deep analytical tools. Even though the MT4 platform is more than capable of being a reliable platform for the average retail trader, if these two functions will improve your trading skills then MT5 would be the way to trade.
MT5 is also considered to be superior for stock trading and order management, while the older MT4 platform could be considered to be superior for forex trading. In reality, the majority of retail traders will notice little difference between the two platforms. They both provide the basic trading functions and features needed to trade successfully.
- Professional trading platform
- 10 order types (instant, pending, limit)
- 21 chart timeframes
- 38 technical indicators
- Depth of Market Pricing
- Economic Calendar
- Docked Charts
- Partial Order Filling
- Multi-currency and multi-timeframe automated trading
- Improved strategy tester for back testing automated systems
- Trading signals via email, push notifications and platform alerts
- Web, desktop and mobile version available
cTrader
cTrader is Spotware’s flagship trading platform solution and a brand trusted by millions of traders worldwide. It is a complete trading platform provided by IC Markets for Forex and CFD traders. The platform is packed with a full range of features to cater to each and every investment preference imaginable. Whilst the MetaTrader platforms are known for their simplicity and excellent user interface, cTrader is a leading multi-asset platform that is known for its sophisticated functionalities such as market depth, multiple indicators and timeframes, rich charting tools, advanced order types, level II pricing and more. cTrader has multiple platforms for both desktops as well as mobile trading via some of the best trading apps you will find.
- Real-time forex and CFD quotes
- Market leading spreads and low commissions
- Servers in the LD5 IBX Equinix Data Center
- Micro lot trading – Minimum lot size of 0.01 with no maximum
- Flexible funding and withdrawing options
- Level II pricing with full market depth
- No restrictions on limit orders
- Multiple order types
- Detachable charts
- Expanded symbol display
- Real-time reports
- One-click trading
IC Markets Platforms Summary
| Platform | IC Markets |
|---|---|
| MetaTrader 4 (MT4) | ✓ |
| MetaTrader 5 (MT5) | ✓ |
| cTrader | ✓ |
| Proprietary | x |
| Desktop | ✓ |
| Web | ✓ |
| Mobile | ✓ |
| Social Trading | ✓ |
| Other (MAM / PAMM, VPS, MT4 Advanced Tools) | ✓ |
Tools
MAM / PAMM
The IC Markets Multi Account Manager software is a trusted solution that has been used by money managers at IC Markets since 2012. It allows you to manage clients’ money with flexible allocation methods and real-time reporting of performance and commissions. The MAM software communicates all allocation settings directly with the IC Markets MetaTrader 4 server. This means a money manager only has to worry about trading through the MetaTrader 4 Master Account, all other processes are handled seamlessly by the MAM software.
- MAM manager to adjust trading parameters in real time
- Unlimited trading accounts and deposit amount
- Trades – Full, Mini & Micro Lot accounts for best allocation advantage
- Allocations to accounts at as little as 0.01 lots (1000 units)
- All normal order types accepted: Market, Stop, Limit
- All unique order types accepted: Trailing Stop, Close by and Close all
- Manage multiple master accounts having different strategies
- Allows Expert Advisor (EA) trading of managed accounts from client side
- Each Sub Account has an output to screen report
- Market watch window within MAM
- Live order management monitoring within MAM including P&L
- STP on master account for bulk order execution, with instant allocation to sub accounts
- Monitor commissions and performance in real time
- Manage Monthly, Quarterly and Annual client reports through the MetaTrader Manager
Virtual Private Server
A virtual private server (VPS) can be a great tool for running automated trading systems around the clock without needing your own platform up and running. This is because a VPS can host your trading platform for you 24/7. IC Markets offer clients who meet a certain trading volume each month (15 lots round turn per month), a free VPS with the fastest possible connectivity to the IC Markets trading servers.
MT4 Advanced Trading Tools
In order to stand out from the typical MT4 broker, IC Markets provide their clients with an exclusive 20 institutional grade trading tools that can help give traders that extra edge when it comes to trading the markets on MT4. These advanced tools can improve your technical analysis and overall trading experience with handy tools like sophisticated alarms, messaging broadcasting facilities, market data and more.
- Alarm Manager
- Correlation Matrix
- Correlation Trader
- Trade Terminal
- Market Manager
- Mini Terminal
- Sentiment Trader
- Session Map
- Excel RTD
- Stealth Orders
- Tick Chart Trader
IC Markets have an abundance of educational resources to support traders. This shows they are a brokerage firm that has client’s best interests in mind. They have a section dedicated to educating traders so that they can improve their trading skills and knowledge, in order to make informed trading decisions.
IC Markets Academy
The IC Markets academy includes trading guides, tutorial videos, webinars, podcasts and courses. You can learn everything from the basics of trading online, to technical and fundamental analysis along with what influences the markets. The educational videos are designed for traders of all levels and will provide a step by step guide on how to start using the IC Markets trading platforms. In addition to the formal educational resources, there is a trading glossary and FAQ section.
Market Analysis
For the serious traders and investors, the IC Markets analysis blog is a great addition. It can help delve deeper into what is moving the markets, with complex expert analysis of various financial instruments. You can then use the information as part of your own market analysis to inspire trade ideas.
Forex Trading Calculators
The IC Markets Forex trading calculators lets you quickly calculate current pip values in your account currency across the brokers range of products.
Market News Calendar
If you want to get an overview of all the upcoming global economic news events and their importance, you can simply take a quick glance at the economic calendar provided by the broker. It shows the dates/times of news releases along with the previous, expected and actual impact of each release. This can be a great tool to use as part of a fundamental analysis.
IC Markets Research and Education Summary
| Resources | IC Markets |
|---|---|
| Market Analysis | ✓ |
| Guides | ✓ |
| Videos | ✓ |
| Webinars | ✓ |
| Autochartist | x |
| Trading Central | x |
| Economic Calendar | ✓ |
| Other (Trading Calculator) | ✓ |
IC Markets have an impressive choice of over 15 flexible funding options in 10 different base currencies, such as AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HXD and CHF. This is great as you can avoid currency conversion fees if funding using the same currency as your IC Markets account. You can quickly and easily make an instant deposit for free using a range of methods including bank wire transfer, credit/debit cards and popular e-wallets. The time it takes to process your payment can depend on the payment method used. Card and other online payments can be instant whereas bank transfers may take a few days to clear. I think they could improve by adding support for crypto funding like RoboForex do if that is something that you are looking for.
IC Markets Funding Summary
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Wire Transfer | ✓ | ✓ |
| Credit/debit Card | ✓ | ✓ |
| Electronic Wallets | ✓ | ✓ |
| Cryptos | x | x |
IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Supervisory Authority (SFSA) and the Securities Commission of The Bahamas (SCB).
These various regulations from different regulator tiers, enables the broker to give clients a great balance between being protected and having freedom of choice to trade the way that they want to without certain limitations in some jurisdictions.
IC Markets Regulation Summary
| Regulator | IC Markets |
|---|---|
| ASIC (Australia) | ✓ |
| IIROC (Canada) | x |
| CySEC (Cyprus) | ✓ |
| SFC (Hong Kong) | x |
| JFSA (Japan) | x |
| MAS (Singapore) | x |
| FINMA (Switzerland) | x |
| FCA (UK) | x |
| CFTC (USA) | x |
| Other (SFSA, SCB) | ✓ |
IC Markets Safety
IC Markets is considered safe as they are regulated by what I would consider to be 2 top-tier regulators. Traders looking to trade via the brokers other entities still have the peace of mind that the broker is regulated and therefore must comply with rules and regulations put in place to protect investors. The fact that IC Markets has been providing industry leading brokerage services since 2007 helps to emphasise the fact that they are an established and reliable broker that can be trusted.
IC Markets deliver excellent support 24/7, anytime and anywhere. Their dedicated team of specialist customer support agents are on hand to help with any of your account and installation questions, across any aspect of your trading experience. You can call them, email them or get a response right away via the live chat. If you are unsure how to install or use any of the platforms, they can even connect remotely to your computer and help solve any problems quickly and securely. I have always received exceptional support from them, probably the best of any broker to be fair.
IC Markets are hands down one of the best brokers for trading online that you are likely to find. They are well regulated and have been around since the initial boom of online trading. Clients get excellent trading conditions which includes raw spreads from 0.0 pips, zero or low fees, rapid trade execution speeds with minimal slippage, powerful trading platforms, trading tools, flexible payment options, educational resources and 24/7 support.
