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IC Markets Review – Key Findings 2022

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What is IC Markets?

IC Markets represents an Australian CFD broker founded in 2007 that offers various trading assets such as currencies, stocks, commodities, futures, bonds, and digital assets. IC Markets broker is one of the largest forex CFD providers globally by daily trade volume.

IC MARKETSBest Australian Broker
  • Rank 96

    Low forex fees
    Fast execution
    Tight spreads

  • Zero spread account
On our best forex brokers page, we gave one of the best ratings to IC Markets brokers as the best Australian brokers.

This broker works on the MetaTrader 4 and cTrader platforms. It has liquidity from 50 providers, top banks, and leading brokers. For good liquidity, IC Markets can spread about 0,1 pips on the prime currency pairs and give ideal conditions for high-frequency scalpers and traders. They will upgrade from MetaTrader4 to MetaTrader 5 shortly, as the team has already implemented the new platform.
The IC Markets aims to smaller traders, as they put a minimum deposit of 200 USD on the MetaTrader4 platform, and on cTrader, the minimum deposit is 1,000.00 USD.

VISIT IC MARKETS

Can a US citizen deposit to IC Markets?

No, IC Market CFD broker does not allow US citizens to become clients because of US CFD regulations.
Besides the US, IC Markets has a restricted countries list:

IC Markets payment methods

You can deposit or withdraw money using the following methods:

  • Bank or wire transfer
  • Paypal (Australian clients)
  • Credit card
  • Skrill
  • Neteller
  • UnionPay
  • Bpay
  • FasaPay
  • Poli.

You will not have all payment methods available if you live outside Australia. In my opinion, Credit Card, Bank Wire, and Skrill are the most reliable payment options.

Users have an excellent trading dashboard, and below you can see my IC Markets dashboard and payment methods:
IC Markets Dashboard

IC Markets restricted countries list

  • Afghanistan
  • Angola
  • Antigua and Barbuda
  • Bolivia
  • Botswana
  • Burma (Myanmar)
  • Canada
  • Cambodia
  • Cote d’Ivoire (Ivory Coast)
  • Cuba
  • Democratic Republic of Congo
  • Former Liberian Regime of Charles Taylor
  • The Gambia
  • Guinea Bissau
  • Guinea Conakry
  • Israel
  • Iran
  • Iraq
  • Japan
  • Kyrgyzstan
  • Lesotho
  • Liberia
  • Libya
  • Mali
  • Namibia
  • Niger
  • North Korea
  • New Zealand
  • Senegal
  • Sierra Leone
  • Syria
  • Tanzania
  • Togo
  • Yemen
  • Zimbabwe

IC Markets broker bonus

IC Market does not offer bonuses. Many believe that bonuses might be an advertisement for a broker, but it mainly is nothing in favor of the user. It usually has a catch written in small letters that by taking a bonus, you must give more than you get, or get a bonus of a dollar, you must trade there for a year, with millions of transactions per day, etc. so by having no bonuses, clients have no worry that their “extra” money would be impossible to withdraw.
IC Market has lately been focusing on Asian markets; they have Chinese and Japanese websites trading with Russian and Chinese currencies.

What is the minimum deposit for IC Markets?

The minimum deposit for IC Markets clients is $200. This broker is trying to set a minimum deposit so clients can not lose their equity fast during market volatility if they trade using micro-lots.

Does IC Markets company allow hedging?

Yes, hedging is allowed at IC Markets because you can create and buy and sell orders for the same asset during the trading. In addition, IC Markets is not a US broker, so hedging is allowed.

This forex broker offers excellent education videos. For example, see How to Hedge an Order in MetaTrader 4 :

Leading Forex websites give good reviews to clients. Considering IC Markets 4 operational years of existence, they have many reviews, which means that they have plenty of clients, which means that they earned trust and confidence by doing good work. It is worth noting that the Forex administrator points out that there are unusually plenty of reviews, which IC Markets explain as they ask their clients to leave comments if they are satisfied with the services. Minor numbers of words reflect technical bugs.

Users are generally happy with the IC Markets, with no reports of manipulation with prices; nobody has complained about withdrawal issues yet. In addition, users posted no reports on unfair broker conduct.
The fact that users leave lots of reviews, of which most are very positive, only shows that marketing by IC Markets is strong and that they put much effort into it. That is a sign of a severe business in general, and as they manage to keep clients satisfied, it shows that they stand behind their words.

Another indicator of IC Market’s seriousness is that they offer a platform made mainly for ECN trading – cTrader, and MetaTrader4, a platform possible be used with a lot of success in ECN trading. And, very important, they are very transparent about their liquidity providers and technology. Good conditions for the traders are provided with what they
offer.

This forex broker is excellent because it offers tight spreads and excellent PAMM and MAMM accounts. See the youtube video about MAMM Manager accounts functions:

If you are interested, you can visit IC Markets broker below:

VISIT IC MARKETS

IC markets Account Verification Procedure

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ICMarkets is a popular broker for traders dealing with foreign currency (forex), precious metals, contracts for differences(CFD) using scalping, and other strategies. The lower commissions and spreads charged by IC markets are among the reasons it is more popular than other brokers. IC Markets are one of the biggest CFD brokers in Australia and was founded in Sydney in 2007 by finance professionals. Though it handles CFD markets in North America, Europe, and Asia, the customer base is even larger, including Hispanic, Latin American countries like Argentina, Colombia, Spain, and Mexico.

In this text, we will see how looks IC markets Account Verification Procedure.

Go visit the IC Markets login page visit the IC Markets page and press “Login client”.

To open an account with ICMarkets, the user will first complete the form with personal information like name, email, mobile number, and country. The trader should choose an individual account, then write the birth date, address with zip code, province. The user can specify who referred him to the website. The trader will have to choose between the trading platforms Crader, Metatrader 4, and Metatrader 5, with Metatrader 4 usually preferred. The trade can choose between the true ECN or standard account. The default currency is USD dollar, and the user can opt for special offers. The trader has to indicate his experience in trading forex, beginner or better, answer the security question and then accept the terms and conditions.

After the registration is complete, the user name and password will be sent by email, which should be noted.

 

 

IC markets Account Verification Procedure is based on verifying every trader’s identity before using the trading account. Hence a photo of the identity card, passport, or driver’s license will have to be uploaded. Proof of residence should also be uploaded to confirm the address. The files should be selected and uploaded. The IC markets staff will approve the uploaded documents and verify the account, usually within 24 hours. The proof of residence should be less than three months old for approval. If all the documents submitted are approved, the account status shows approved, and the user can start trading.

Features

The Australian Securities & Investment Commission(ASIC) has authorized and regulated ICMarkets to protect investors and customers, specifying the financial regulations. The ICMarkets offices are located at Limassol and Sydney. The transactions are directly carried out using the LP & ECN system. There is no dealing desk, so ICMarkets has a very reliable market for interbank currency. The trading instruments are forex, precious metals, CFD. Trading platforms are Metatrader 4, Metatrader 5, ctrader. The spreads are low and vary from 0.0 pips for some accounts. The maximum leverage is 1:500. The minimum lot size is 0.01 lots. The minimum deposit is $200. The deposit and withdrawal methods are VISA, Mastercard credit cards, Neteller, PayPal, Skrill, Bank wire transfer, and Bitcoin

Opening a trading account

 

Deposits and other aspects.

Traders can make deposits using their menu options for deposit funds, with the minimum amount being $200. There is an option for opening a demo account in the accounts menu. Beginners to forex trading who wish to start practicing trading without taking the risk of investing their money can open a demo account. The trader will then have to specify the trading platform, currency, account type, leverage, initial deposit amount. After all the information is provided, the trader will receive an email with the demo account’s login details.

IC Markets Trading platforms

Metatrader 4: This is the most popular trading platform for forex at present, using the latest design and technology. It is easy to use, efficient with fast trade execution. The developers of Metaquotes are always innovating to add new features. It has multiple tools for market analysis, especially several dozens of inbuilt technical indicators. The expert advisor’s modules evaluate, design, and implement automated systems for trading possible.

cTrader: This electronic trading platform of ICmarkets is suitable for precious metals and forex. Customers get a lot of liquidity with this platform, which features thirteen stock indices, up to 64 currency pairs, with streaming prices from banks worldwide. It has a very spread from 0.0 pips for most of the major forex pairs. There are also no trading restrictions so that traders can link, trade with liquid traders worldwide.

Metatrader 5: This popularity of the trading platform increases since it is an improved version of Metatrader 4 from Metaquotes, with access to more markets for trading and additional features to make trading, investing easier.

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