IC Markets

Highlights

• Fast order execution
• Powerful trading terminals
• Institutional grade training

Pros

• Instant online account opening
• Free deposit and withdrawal
• Low fees

Cons

• No investor protection
• Limited products(forex, CFDs and crypto)

Main Features

Country of Regulation: Australia

Trading Fees: Low

Inactivity Fees charged: No

Minimum Deposit: $200

Products: Range of Markets, Indices, Forex, Commodities, Bonds, Stocks, Futures, Cryptocurrencies

Review

Fees

IC Markets charges low trading and non-trading fees but has a high financing rate for CFDs. There is no inactivity or withdrawal fee.

A/C opening

The account opening process at IC Markets is fully digitalized and quick. The minimum deposit is $200. IC Markets offers three types of accounts which differ in fee structure and available trading platforms. The 3 accounts are True ECN with cTrader, True ECN with MetaTrader, and standard.

The IC Markets account cannot be opened online. The applicant must go through a 5 step registration process which roughly takes 10-15 minutes and then account Verification can be done the same day. 

Deposit & withdrawal

IC Markets depositing and withdrawal services are good. There are many options available for depositing and withdrawal and there is no fee. It offers 10 base currencies accounts.

Withdrawal is completely free for credit/debit cards, bank transfers to Australian bank accounts, and payment wallets. There is a charge of 20 AUD on withdrawal by international bank transfer. To withdraw you have to visit the IC Markets portal and check the ‘withdraw funds’ option. It usually takes 2 business days to withdraw money.

Trading Platform

The IC Markets trading Platform is available in several languages, highly customizable, and has good search functions. The IC Markets does not have its own trading platform, it uses the third-party platforms MetaTrader 4, MetaTrader 5 and cTrader among all Metatrader 4 is most used.

Research

IC Markets research has great trading ideas but does not provide fundamental data and recommendations. The platform provides quality news feed and other great research tools.

Customer service

You can connect with the IC Markets customer service through email, phone, and Live chat.

Education 

IC Markets offers a wide range of quality educational materials and tools, including trading platform tutorials, good educational videos, and even a demo account.

Safety

The broker is Considered safe as it is regulated by the top-tier regulator Australian Securities and Investment Commission (ASIC).