IC Markets Forex Broker Overview
This review is a result of months spent with the brokerage firm, IC Markets. The review team had administered an exhaustive review of all the firm’s offers and services so as to render a detailed and pointed assessment of IC Markets’ over-all capabilities. This review delves into the following facets:
1. IC Markets’ regulatory status
2. The firm’s range of trading instruments
3. The firm’s available trading accounts
4. The firm’s offered trading platforms
About IC Markets
Founded back in 2007, IC Markets is a brokerage firm that offers a wide range of trading instruments from various lucrative markets.
IC Markets had only found regulation two years into its industry existence through the Australian Securities & Investments Commission (ASIC). It had furthered its legitimacy to serve its clients better through its Australian Financial Services Licence (AFSL), thus permitting the firm to function legally as a financial service provider within Australia.
Security of all client data and funds are solidified through protection offered through IC Markets’ membership of the Financial Ombudsman Service (FOS). What this type of membership allows clients to an additional level of protection should disputes between the brokerage and its client arise.
IC Markets’ European arm, IC Markets (EU) Ltd. is being sanctioned by the Cyprus Securities and Exchange Commission (CySEC). IC Markets (EU) is headquartered in Limassol, Cyprus.
In Seychelles, IC Markets is registered and operates as Raw Trading Ltd. The company trades as IC Markets Global that follows the stringent regulations of the Financial Services Authority of Seychelles. The company’s live site goes under the supervision of IKBK Holdings Ltd. also in Limassol, Cyprus.
With IC Markets’ tenure in the industry and the number of regulatory entities that the company takes cues from, assuring clients of its legitimacy is easy. It can actually be enough to be secured in the decision of enlisting the services of the firm.
However, the review team still opted to delve into the specifics of IC Markets’ services in its aim to detail what other possible benefits clients or would-be clients may be able to get from signing up with the firm.
Offers and Services
Accessible Trading Instruments
As already mentioned, the firm offers a wide range of trading instruments that its clients can take advantage of. The asset classifications alongside the specific assets to trade are specified within the table below:
|Number of Assets||Assets|
|300+ CFDs||Currencies, Stocks, Futures, Index, Commodities.|
|60+ Currency Pairs||Major and minor world currencies|
|15 Indice Cash CFDs Stocks||Baskets of different blue-chip|
|2 Indice Futures||U.S. Dollar Index, US Volatility Index|
|6 Metal Spot CFDs||Gold, Silver, Palladium and Platinum|
|3 Energy Spot CFDs||Crude Oil (WTI, Brent) and Natural Gas|
|2 Energy Futures||Crude Oil (WTI, Brent)|
|5 Soft Futures||Coffee, Corn, Soybean, Sugar, and Wheat|
|9 Bond Futures||U.S., U.K., J.P., German, and Italian government securities|
|110+ Stock CFDs||AU and U.S. companies Shares|
Offered Trading Platforms
The firm offers three trading platforms with which its clients can do trades through, these are as follows:
MetaTrader 4 (MT4)
Fast in trading executions, MetaTrader 4 (MT4) is seen by the online trading community as one of the most efficient trading software there is in the industry. As this is the case, it is widely used and reviewed, receiving a great deal of positive assessments, something that the review team assent to.
MT4 offers one-click trading, a wide range of technical indicators, charting tools, and a number of Expert Advisors (EAs) that permit automated algorithmic trading. The more advanced order types are also offered through this platform.
MetaTrader 5 (MT5)
Admittedly just an upgraded version of MT4, MT5 while not as popular as the former offers a great deal of notable features, specifically, a wholly flexible lot sizing, a considerable number of funding and withdrawal options, tight spreads, and market depth just to name a few.
The offering of a Raw Spread trading environment is cTrader’s specialty. Automated trading is permitted through its offering of ZuluTrade, Myfxbook’s AutoTrade, and Signal Trader’s capability to perform mirrored trading.
Available Trading Accounts
IC Markets has three trading accounts available to its clients, these are as follows:
1. Raw spread Account
Available through this account are both the MetaTrader trading platforms. The spreads are pegged at 0 pips. Its commissions are offered at $3.50 with a leverage of 1:500. The review team had seen that the Raw Spread Account to be conducive for both Expert Advisors (EAs) and scalpers.
2. cTrader Account
As already made known, the offering of a Raw Spread environment is the main strength of the cTrader platform. The spreads within this account starts from 0 pips. One notable thing from the account is its ultra-fast order execution. The leverage is being offered at 1:500. The commissions are at $3.00. In addition, the account offers a strict STP environment. This account caters mostly to Day Traders and Scalpers.
Not meant for the more discretionary traders, the spreads for this type of account is pegged at 1 pip. It offers no commissions with the leverage at 1:500 leverage through the provision of the MetaTrader platforms.
Trade With IC Markets Today!
The points discussed through this review paint a positive image for IC Markets. The following offers have been found by the review team to be conducive to produce good and altogether lucrative trades:
1. The firm’s regulatory status
2. The wide range of trading instruments the firm offers access to
3. The trading accounts that the firm provides its clients to pen
4. The efficiency of the trading platforms that clients can use