OVERVIEW OF IC MARKETS
IC Markets is one of the most popular forex broker platforms used by different kinds of traders. That’s why we have decided to review the broker. It will help you in identifying whether it will be a good fit for you or not based on its services, fee structure, educational material, analysis method, and trading system.
IC Markets is a trusted forex broker platform regulated by the reputed financial jurisdiction of tier-1 and tier-2, including the Financial Services Authority, Australian Securities and Investments Commission, and Cyprus Securities and Exchange Commission.
One of the critical features of IC markets is there are third-party plugins to provide you with quality educational content, powerful trading tools and charts, market analysis and news and several other features. So, you don’t need to subscribe to any other platform for the above services. Also, you can find spreads, raw and standard account types with different features to start trading.
IC MARKETS REVIEW
IC Markets has been offering its services since 2009. The platform has created a large client base by offering quality and reliable services. You will find all you need for trading on the platform. However, while many brokers offer account opening with no minimum balance requirement, there is a deposit limit of at least 200$ to open an account with this platform. It may be a drawback for some traders, but this broker also offers many premium services to its clients. The customer support system is available 24 hours and 7 days, and that too in multiple languages, so you can lodge your complaint or ask your queries anytime through different platforms.
The best part about IC markets is the fee structure is low compared to its competitor, and you will find out about the cost before placing a trade. So, you will know if the cost is your pocket friendly or not. However, the trading fees are low but the platform charges commission in almost all account types. The broker platform also provides sentimental market analysis, correlation metrics and other distinct features.
IC Markets is suitable for all sorts of traders, including scalpers, automated and day traders. You can find advanced tools and strategies for each trading style. Also, for advanced traders who believe in diversification and investing in different financial assets, this broker is a single destination, as you will find almost all financial products on the platform.
OUR ASSESSMENT OF IC MARKETS
We have analyzed IC markets products and services and discovered that it is a reliable and regulated platform with years of experience. According to reports, over 5 lakh transactions occur daily on the platform, which is a significant number. It has a client in more than 135 countries and follows all the compliance rules. IC markets make money through currency spreads. The broker charges spread and additional charges depending on your account type. Generally, the spreads start from 0.0 pips, and the commission is 3 dollars per trade for the raw spread accounts and standard accounts spread starts from 1.0 pips with no commission.
For the MT4, and MT5 users, the commission is $7 per lot & for cTrader commission is $7. There are no inactivity and withdrawal fees. Also, the broker provides a seamless deposit and withdrawal process. There is both copy and automated trading available, which makes the platform suitable for both beginners and advanced traders. Also, it offers a realistic leverage ratio of 1:500, so leveraged traders can use it.
IC Markets offers different types of orders, trading signals and charts, in-depth market analysis and exceptionally fast execution to facilitate seamless and effective trade. With such powerful tools, the platform is a good fit for several trading, including hedging, scalping, algorithms and day trading. Overall the platform is reliable and secure to start trading. It also offers a demo account facility, so it will be best to yourself try and test the broker.
IC Markets has won many forex broker awards, which is proof of its reliability. At present, when there are many scam brokers available, it is better to go with a regulated platform to ensure your security. 24/7 customer connectivity, excellent liquidity, low trading cost, descent leverage, and excellent trading and risk management tools are vital benefits of being with it.
We have analyzed the ins and outs of IC Market and found out that the advantages of being with it outweigh the disadvantages. As per our IC market review, We recommend it to all sorts of traders. Based on our analysis, we give it a 93 trust score out of 100, and on a scale of one to five, we give the broker’s platform 4.4 ratings.
Another benefit of being with IC Markets is the platform offers clients negative protection for risk management. It also segregated client deposits to ensure security. The biggest pros while dealing with IC markets are transparency and reliability.
Many blogs and educational materials are available for free on the platform. It keeps updating then, and also you will get access to current market news, which is a must for fundamental analysis as currency value is greatly affected by such events.
While the trading fees with most of the reputed broker is very high, the trading fees are competitive with IC markets. There are no hidden fees; you can check its website and find details regarding spreads and commissions based on different account types.
IC market offers a wide range of financial assets, while on the flip side, the platform is not for trading stocks or ETFs. So you have to subscribe to any other platform to invest in these assets, or do you have to look for another platform.
While IC Markets claims to provide 24/7 customer assistance, the live chat system could be more responsive. Also, the answers to clients’ queries are quite irrelevant, and you may feel that the platform is using some sort of AI Bots.