IC Markets: Review, Account Types, and Opinions

What type of Broker is IC Markets?

This Broker is a True ECN type, which means that all its accounts offer direct market access, distinguishing it from Market Maker-type Brokers. In simpler terms, investors can have access to fast executions, quotes that provide a clearer view of the market, and tight spreads for all financial instruments.

Currently, IC Markets Broker is growing at an unprecedented rate and is expected to continue doing so in the coming years, thanks to the quality of its services for Forex trading. Through this financial entity, you can trade famous CFD contracts, and additionally, investors can also trade stocks and commodities.

Is IC Markets regulated?

IC Markets is regulated by ASIC with license number 335692 in Australia. This means that every investor can trade with complete confidence, as this financial institution is reliable, being regulated by Australian laws that protect investors’ capital to prevent fraud or misappropriation of funds.

IC Markets is a Broker that advances with technology, allowing algorithms (robots) programmed by investors to trade on their behalf on any of its platforms. This, in turn, allows traders to save time and focus on other tasks while their robot trades for them.

This company also allows scalping, ensuring high-speed financial operations and immediate liquidity connection with over forty banks in case of any situation.

Furthermore, IC Markets offers a website available in more than eighty different languages. All you need to do is select the desired language, and the platform will automatically translate from the basics to the most advanced functions, making it accessible to people from any country.

What types of accounts does IC Markets offer?

IC Markets offers a good variety of accounts for Forex trading, which adapt to the needs of any person based on the amounts of money they want to use for investments. If you are a resident of a European Union country, due to ESMA regulations, the maximum leverage you can use is 1:30. In this case, it’s 1:30 for major Forex pairs, 1:20 for major indices like gold and silver, along with minor Forex pairs, 1:10 for minor indices, commodities, and exotic Forex pairs, 1:5 for stocks, and 1:2 for cryptocurrencies. Keeping this in mind, the types of accounts offered are as follows:

Raw Spread Account and Raw Spread cTrader Account:

• Trading Platforms: You have the option to use MT4 and MT5 in the Raw Spread account, or cTrader in the Raw Spread cTrader account.
• Commission: In the Raw Spread account, a commission of $3.5 per standard lot is applied, while in the Raw Spread cTrader account, you enjoy $0 commission per standard lot.
• Tight Spreads: Both accounts offer spreads starting from 0.0 pips in Raw Spread and from 0.6 pips in Raw Spread cTrader.
• Minimum Deposit: A minimum deposit of $200 is required to start trading, regardless of the account you choose.
• Flexible Leverage: With a maximum leverage of 1:500, you can adjust your risk level according to your preferences.
• Order Quantity: Both accounts allow a maximum of 200 orders per account, giving you the freedom to diversify your strategies.
• Variety of Currency Pairs: You have a total of 61 currency pairs at your disposal, expanding your opportunities in the global markets.
• Stop Out at 50%: The Stop Out level remains constant at 50% for both accounts.

Standard Account:

• Trading Platforms: Use MT4 and MT5 in the Standard account.
• Zero Commission: No commission is applied per standard lot in the Standard account, making it an excellent option if you prefer to avoid commissions.
• Tight Spreads: Like in the other accounts, enjoy spreads starting from 0.6 pips.
• Minimum Deposit: To start trading with this account, you need a minimum deposit of $200.
• Flexible Leverage: Take advantage of a maximum leverage of 1:500 to optimize your market exposure.
• Order Quantity: You can manage up to 200 orders per account in the Standard Account.
• Variety of Currency Pairs: Trade with a total of 61 currency pairs, offering a variety of options.
• Stop Out at 50%: The Stop Out level remains constant at 50% for this account.

IC Markets Demo Account:

Before committing to real funds, consider starting your journey in the world of trading with a free Demo Account provided by IC Markets. This account allows you to practice risk-free, as all losses are fictitious. Creating a demo account is quick and easy, and within minutes, you’ll be ready to explore the platform.

The IC Markets Demo Account gives you the ability to perform buy, speculate, and sell operations, as well as the opportunity to explore different strategies using the assets available on the platform. For a more comprehensive learning experience, take advantage of the educational material provided on the IC Markets website.

With IC Markets, you have a range of account options that suit your needs and trading goals. Additionally, the Demo Account provides peace of mind for practicing before transitioning to real-money trading. Utilize these tools and resources to enhance your success in financial trading!

What Forex trading platforms does IC Markets use?

Well, this Broker truly offers numerous platforms for Forex trading. While others use two or three, this one has six desktop platforms and three for mobile devices. It goes without saying that each one has unique features in its class, even though other companies also use them. These platforms include:

• Metatrader 4.
• Metatrader 5.
• cTrader.
• cTrader web.
• Webtrader.
• MAM/PAMM Metatrader 4.

Mobile Platforms: The mobile platforms are derived from those offered for desktop computers and laptops, so they have the same functions. The only difference is that they can only be used on smartphones. Therefore, there’s no need for a brief review of these platforms. The mobile platforms include:

• Metatrader 4 iPhone.
• Metatrader 4 Android.
• cTrader Web.

How do you withdraw money from IC Markets?

The process for withdrawing money from this Broker is straightforward, but before doing anything, keep in mind that if you deposit through a payment processor like Skrill, when you make withdrawals from the Broker, you must use your Skrill account for that purpose. You cannot exchange by depositing through Skrill and withdrawing through Neteller or any other method.

Originally, IC Markets is available in English, but you can translate it into Spanish and other languages. In this case, I will explain how to make withdrawals if your account is in English. You should go to Transfers > Withdraw Funds > select the payment method, enter the withdrawal amount, and proceed with the respective withdrawal.

Keep in mind that to activate withdrawals, you must have previously deposited money into your IC Markets account. This means that the withdrawal option will not be available until you make an initial deposit, and the method you use for depositing must be the same one you use for withdrawal.

What payment methods does IC Markets use for traders to deposit and withdraw from the platform?

IC Markets uses several payment methods to make deposits and withdrawals on the investment platform, including the most widely used payment processors in the world. These methods include:

• International bank transfer.
• Deposits with credit or debit cards.
• Neteller.
• PayPal.
• Skrill.
• Webmoney.

Deposits and withdrawals can be made in US dollars or euros, as this Broker only accepts these two base currencies for trading. Starting in 2017, they also accept Bitcoin deposits for investment.

IC Markets allows depositing and trading with Bitcoins

Technology is advancing exponentially, and cryptocurrencies are part of that progress. As many Brokers already offer the possibility of depositing Bitcoins for trading, IC Markets couldn’t stay behind. If they didn’t allow it, they could lose customers. For this reason, this company allows its traders to operate using Bitcoins, but there are certain limitations. Due to the high volatility of Bitcoin, the spreads for operations in IC Markets are set at 10.0. The minimum leverage that can be used is 1:1, and the maximum is 1:20. The margin call is set at 100%, and there are 50% off-limit pairs.

Naturally, by being able to invest using Bitcoins, the investor can make deposits and withdrawals through their virtual wallet. It is expected that in the future, this Broker will offer the possibility to trade with other types of cryptocurrencies, but for now, being able to use Bitcoins is more than enough. Just like for other financial instruments, all operations are regulated by ASIC, ensuring that trading with this cryptocurrency on the Broker is entirely safe.

How long does IC Markets take to process payments?

As mentioned earlier, this Broker processes payments quickly, but the deposit to your account depends on the payment method you choose. For example, for national bank transfers in Australia, it can take up to 3 business days. International transfers may take up to 10 business days in some cases, depending on the receiving bank. Payments through payment processors usually process transactions within 24 to 48 business hours.

The payment processor associated with my IC Markets account is Neteller, and every time I make withdrawals, depending on the time I request them, they are credited the same day or the next day. There was only one instance when the withdrawal took 2 days or 48 business hours to be credited, but it was due to delays from Neteller.

Are deposits instant?

Deposits at IC Markets can be instant or take up to 5 business days, depending on the methods you choose. For example, deposits made via Neteller or Skrill are instant. Deposits made with Bitcoin take 24 hours to reflect. If you deposit via credit or debit card, national or international bank transfer, it may take up to 5 business days to reflect.

Is IC Markets a scam?

I want to make it clear that this Broker is entirely safe. In other words, you won’t have any problems with them at any time because your money will be safe. Of course, there’s always risk when trading in the market, but outside of that, you won’t have problems.

The asset charts in IC Markets update in real-time and are 100% transparent, so there is no risk of theft while trading, as this Broker does not manipulate the charts as unregulated brokers do, claiming to conduct legitimate operations.

Completely automated trading is the future of Forex financial operations

Automated trading is the future of financial operations in Forex. That’s why IC Markets offers the opportunity to create algorithms for fully automated trading on its platform, as mentioned earlier. These automated trading services with this Broker include:

Zulutrade

IC Markets allows all its clients to integrate any account they have created with the Zulutrade platform. On this platform, you can create a fully automated algorithm to execute orders in the market on autopilot, without the trader having to intervene. This way, people can do other things while their investments execute on their own.

IC Markets Myfxbook Autotrade

This other platform is fully automated for trading, just like Zulutrade, with the difference that it allows the investor to copy the automated trades that other traders are executing. On its interface, you can see the profitability margin of successful investors, and based on the profitability of each one, the account owner can decide whether to copy them or not. This works similarly to eToro, which is also a social trading platform.

IC Markets does not allow exchange

Don’t make the mistake of trying to use the Broker as an exchange platform. In other words, if you deposit with Neteller, the money you deposit, plus the profits you earn through trading, must be withdrawn through Neteller. You cannot deposit with Neteller and withdraw through a bank transfer or another method. If you attempt such an exchange, the transaction will be canceled, and the withdrawal will take longer than expected. For more information about this Broker, visit the IC Markets post I made.

Conclusions about IC Markets

It can be concluded that IC Markets Broker is one of the best choices for trading in the Forex foreign exchange market. It offers a wide variety of accounts and investment platforms for trading a wide range of financial instruments. Additionally, the technological advancements of the platform are quite impressive. By allowing its investors to trade in Bitcoins, the number of traders operating with them can increase rapidly.

If you are already familiar with this Broker after reading this post, you should keep in mind that it is an excellent choice for making investments in Forex. If you want to create an account with an outstanding Broker, IC Markets should undoubtedly be a top consideration.