IC Markets stands as a prominent online brokerage established in 2007, serving both retail and institutional traders with a comprehensive array of trading solutions. With an extensive range of tradable instruments encompassing forex, commodities, indices, bonds, stocks, and futures, the broker caters to diverse investment needs. The platform extends support for multiple trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader, all available in web-based and mobile iterations compatible with Android and iOS devices. Furthermore, IC Markets clients benefit from a complimentary demo account featuring virtual funds, enabling them to simulate real market conditions and hone their trading skills before engaging in live trading activities.
Safety
Having been founded in 2007, IC Markets boasts a substantial track record. It’s widely acknowledged that the longer a brokerage has been in operation, the stronger the evidence of its resilience through past financial crises.
IC Markets operates under the regulation of multiple authorities, including the Cyprus Securities and Exchange Commission, the Seychelles Financial Supervisory Authority, and the Australian Securities and Investments Commission.
Depending on your country of residence, you have the option to open an account with one or more of IC Markets’ legal entities. This is significant as the investor protection amount and regulatory framework vary depending on the specific entity you are associated with.
| Country | Legal Entity | Regulator | Protection Amount |
|---|---|---|---|
| Australia | International Capital Markets Pty Ltd | Australian Securities and Investments Commission (ASIC) | No protection |
| EEA Countries (Without Switzerland, Belgium & Latvia) | IC Markets (EU) Ltd | Cyprus Securities and Exchange Commission (CySEC) | €20,000 |
| All Other Countries | IC Markets (SC) Ltd | Seychelles Financial Supervisory Authority (FSA) | No protection |
Additionally, it is worth noting that IC Markets offers negative balance protection to retail clients, ensuring that in the event your account balance falls into the negative, you are safeguarded from losses beyond your initial investment.
Account Opening Process
The account opening procedure at IC Markets is straightforward and entirely digital, ensuring ease of use. Completing the online application typically requires 10-15 minutes, and your account is typically approved within one business day. Regarding restrictions, IC Markets welcomes customers from across the globe, with notable exceptions including the United States, Canada, and Israel.
Account Types
IC Markets offers three distinct account types, each varying in its fee structure and the trading platform options available.
| Account Type | Description |
|---|---|
| Raw Spread (cTrader) | cTrader account with $6 per lot commission and spreads starting at 0.0 |
| Raw Spread (MetaTrader) | MetaTrader account with $7 per lot commission and spreads starting at 0.0 |
| Standard | MetaTrader account with no commissions and spreads starting at 0.8 |
Products
IC Markets specializes in forex and CFD trading, excluding other popular asset classes like ETFs. While primarily focused on forex trading, the platform does offer a variety of CFDs. Moreover, IC Markets boasts a wider selection of CFDs and cryptocurrencies compared to its closest competitors, although its forex product lineup remains similar.
Stocks
IC Markets provides access to a variety of stocks from renowned companies such as Apple, Amazon, and Microsoft. With over 2,100 stocks available from more than 16 exchanges, trading stocks presents a viable option for individuals interested in intra-day trading and leveraging short-term fluctuations in stock prices.
Fees
IC Markets charges minimal trading and non-trading fees, with no charges for inactivity or withdrawals. However, it’s worth noting that the financing rates for CFDs are comparatively elevated.
Low Stock Commissions
The commission structure for stock CFD trading stands at $0.02 per share. This rate applies to each share traded, ensuring transparency and clarity in trading costs.
Withdrawal, Inactivity & Other Fees
There are no charges for account inactivity, deposits, or maintenance. Additionally, there are no fees associated with withdrawing funds via credit/debit cards, e-wallets, or international bank transfers.
| Fee Type | Fee Value |
|---|---|
| Account Fee | ❌ |
| Deposit Fee | ❌ |
| Conversion Fee | 0.01% |
| Inactivity Fee | ❌ |
| Withdrawal Fee | ❌ |
Conclusion
In conclusion, IC Markets presents an optimal option catering to both seasoned traders and novices alike. Providing an array of financial instruments such as stocks, forex, commodities, indices, bonds, and futures, this brokerage ensures diversity in investment opportunities. Supported by leading trading platforms like MetaTrader 4, MetaTrader 5, and cTrader, the platform caters to diverse trading preferences. Additionally, as a regulated entity, IC Markets prioritizes client safety through measures like segregated accounts and negative balance protection, making it a compelling choice for traders at all levels of expertise.
