IC Markets Broker Overview

IC Markets offers up to 500:1 leverage on the three trading accounts it offers. The minimum amount to open an account is also the same for all: $200 (or equivalent in other currencies).

The Raw cTrader and Raw MetaTrader accounts both offer the lowest spreads, but cTrader has a lower commission rate. We’ll discuss the differences between these two trading platforms in the next section.

The Standard account (MetaTrader) has a higher average spread but no commissions. Other than the spreads and commissions, all the accounts offer the same features.

Here are the financial instruments you can trade, all via contracts for difference (CFD):

• 61 forex pairs
• 25 indices
• 20 commodities
• 2,100 stocks
• 9 bonds
• 21 cryptocurrencies
• 4 futures contracts

The following are spreads you can expect to see on various account types.

IC Markets does not offer trading on binary options.

Meta Trader software is created by Meta Quotes and is offered by many brokers. It’s simple, functional, and offers extensive programming and plugin capabilities. This means traders can create or download additional indicators or even trading robots.

MT4 and 5 are available via desktop platform (download) for PC and MAC, webtrader, as well as via an iPhone or Android app. With the webtrader, you don’t need to download anything; you can just log in to your account on the broker’s site and start trading.

The platform cTrader is an alternative that IC Markets offers which is ideal for active traders. Plus, IC Markets offers lower commissions if you use cTrader. The platform is created by Spotware Systems and is licensed to IC Markets.

With cTrader, you’ll also have access to Level II pricing. This shows the size of the bids and offers around the current price. Traders can use this as a tool to assess buying and selling strength.

The platform cTrader also provides something called Smart Stop Out. If your account falls below the required margin for a position, instead of closing the position (which is what most platforms and brokers do), Smart Stop Out closes only a fraction of the largest position in order to bring the account back within the margin requirement.

An app version of all these platforms lets you manage positions on the go. Copy Trading, a function that allows you to copy the trades of successful traders you select, is also available via cTrader.

Here are the ways you can deposit and withdraw funds from an IC Markets account:

Withdrawal requests are processed on the day they are received. The cutoff is 12:00 AEST/AEDT. If the request is received after this time, it will be processed on the following business day.

For processing times, check with each payment provider to see how long it may take to send or receive or funds.

At the time of writing, IC Markets is not offering any deposit bonuses or promotions.  However, they always offer 0% fees on deposits and withdrawals.

They also offer something many forex brokers don’t: Level II or Market Depth data. Level II data shows the bids and offers around the current price, and it is available for free on the cTrader platform.

Should IC Markets offer any upcoming promotions, we’ll be sure to keep you posted.

This is called segregated funds, and most reputable brokers offer this. A segregated account means your account balance is held in trust, separate from the broker’s money.

This means if the broker goes bust, you’ll get most or all of those funds back (less a fee the trustee charges to distribute the funds in the event of a broker bankruptcy).

Segregated funds are a great thing to have and look for in a broker, along with being regulated.

IC Markets is regulated by four different regulatory bodies.  Raw Trading Ltd (Trade Name: IC Markets Global) is regulated by the Financial Services Authority of Seychelles (FSA).

International Capital Markets Pty Ltd (AU) is regulated by the Australian Securities and Investments Commission (ASIC). IC Markets (EU) Ltd is regulated by the Cyprus Securities and Exchange Commission (CySec). IC Markets Ltd. (International) is regulated by the Securities Commission Bahamas (SCB).

To avoid getting scammed, always check a broker’s regulations. If they’re regulated in more than one place, all the better. That means they had to jump through more hoops and have been vetted by more organizations.

You can give IC Markets a call 24 hours a day, seven days a week. Wait times are usually under five minutes.

General: +2484671976

Brazil: +558008783054

Thailand: +661800011956

Indonesia: +6280332160329

Colombia: +5718005190364

Vietnam: +8412032513

You can also send them an email and expect a response within 24 hours.

Client Relations: clientrelations@icmarkets.com

Support: support@icmarkets.com

Accounts: accounts@icmarkets.com

Marketing: marketing@icmarkets.com

You can also send them a message from their contact us page.

Before contacting support, it’s worth checking out the Help Centre which includes answers to commonly asked questions. In the bottom right corner of the Help Centre, you’ll also see a chat icon. Click on it to access live chat support.

Support is available in English, Spanish, French, Japanese, and Chinese.

How long does it take to withdraw from IC Markets?

Withdrawals are approved the day they are received, with a 12:00 AEDT/AEST cutoff. If a withdrawal request is received after that, it is approved the next day. How long it takes funds to reach your account also depends on the payment processor you’re using.

What is the commission on IC Markets?

There is no commission on Standard accounts. There’s a commission of $3.5 per standard lot on Raw MetaTrader and $3 per standard lot on Raw cTrader accounts (or equivalent fee in other account currencies).

Does IC Markets accept US clients?

JustMarkets does not accept US residents. If you’re looking for a forex broker that accepts US clients, read our review on Oanda.

Does IC Markets accept Canadian clients?

IC Markets does not accept Canadian clients. If you’re looking for a broker that accepts Canadian clients, check out our review on FXCM. IC Markets also doesn’t accept clients from the US, Israel, New Zealand, Iran, or North Korea.

Is IC Markets a scam?

IC Markets is not a scam. It is regulated in several jurisdictions and has a 4.9 out of 5 rating on TrustPilot. It has been in business since 2007.

Final Thoughts on IC Markets as a Broker

IC Markets is a great broker choice if you live in an area where its services are offered. Raw spreads averaging 0.2 pips on the EUR/USD is highly competitive, and while you may find commissions below $3 per lot, that is a competitive commission cost.

The offering of cTrader is also advantageous compared to many other brokers who only offer MT4 and MT5. While MT4 and 5 are functional platforms, day traders especially will appreciate the ease of use, market depth, and built-in tools offered by cTrader.

In addition, IC Markets is regulated in multiple jurisdictions, offers segregated client accounts, and has a 4.9 / 5 rating on TrustPilot.

If you are looking for a forex or CFD broker offering trading on stocks, indices, commodities, and more, IC Markets is a quality choice. Check out more Forex Broker Reviews here.

Looking for a broker with tighter spreads? See our review on IC Markets, as well as other Forex Broker Reviews.

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