IC Markets review: Unbiased Expert Analysis
This IC Markets review provides an in-depth, unbiased analysis of one of the leading online trading brokers. We will explore its features, regulations, fees, and overall suitability for traders.
IC Markets, established in 2007, is a reputable online trading brokerage owned by International Capital Markets PTY. Headquartered in Sydney, NSW, it has grown to become a prominent name in the financial trading industry.
The broker is well-regarded, particularly in Australia, often considered the best forex broker Australia has to offer. It stands out for its high leverage options, competitive spreads, and low fees.
IC Markets aims to bridge the gap between retail traders and institutional investors. It offers sophisticated investment solutions that were traditionally only accessible to investment banks and high-net-worth individuals.
While primarily focused on forex trading, IC Markets also provides access to futures, indices, and commodities, offering a diverse range of trading instruments.
IC Markets Regulation and Reputation
The IC Markets regulation framework is robust, enhancing its reputation as a trustworthy broker. The brokerage became licensed and regulated by the Australian Securities & Investments Commission (ASIC) in 2009 under license number 335692.
ASIC is a highly respected and strict regulatory agency. It imposes stringent guidelines and procedures that IC Markets must adhere to, ensuring a safe trading environment for its clients.
In addition to ASIC regulation, IC Markets is a member of the Financial Ombudsman Service (FOS). This service provides an additional layer of protection, allowing clients to resolve any complaints promptly and professionally.
This commitment to regulatory compliance and customer satisfaction provides traders with peace of mind, knowing their interests are protected.
IC Markets also operates under additional regulated brands:
- IC Markets (SC): Owned by Raw Trading Ltd and regulated by the FSA in the Seychelles.
- IC Markets (EU): Caters to European traders and is regulated by CySec, adhering to ESMA restrictions.
These various regulated entities allow traders to choose the level of regulatory oversight and protection that best suits their needs, offering flexibility and options within the IC Markets ecosystem.
IC Markets Account Types
IC Markets offers three distinct account types, each designed to cater to different trading preferences and fee structures. These accounts also vary in the trading platforms they support.
- True ECN with cTrader: Features a $6 commission per lot (round turn) and low spreads. Utilizes the cTrader platform.
- True ECN with MetaTrader: Offers a $7 commission per lot (round turn) and low spreads. Compatible with MetaTrader 4 and MetaTrader 5.
- Standard Account: No commission is charged, but it features higher spreads. Supports MetaTrader 4 and MetaTrader 5.
All account types are available for individual, joint, and corporate ownership. Furthermore, an Islamic (swap-free) account option is available across all three account types.
IC Markets Fees
Understanding IC Markets fees is crucial for traders. Generally, IC Markets is known for its competitive and often low-cost fee structure. This IC Markets review highlights the transparency in their pricing.
| IC Markets Fee Type | Charge |
|---|---|
| Raw Spreads (Forex) – Commission | USD$7 Round-turn commission per standard lot ($3.5 per side) |
| Standard Spreads (Forex) | 1.0 Pip |
| cTrader Raw Spreads (Forex) | USD$3.0 per USD100k |
| Rollover / Overnight Fees | Varies by currency pair |
| Withdrawal Fees | $0 |
| Deposit Fees | $0 |
| Inactivity Fees | $0 |
| MT4 Advanced Trading Tools | Free |
| MyFxBook AutoTrade (Social Trading) | 0.6 Pip + Standard Account Spread of 1 Pip |
| ZuluTrader | 1.5Pip + Standard Account Spread of 1 Pip |
| Virtual Private Server (VPS) | Sponsorship available |
| Demo Account | Free |
The general consensus in this IC Markets review is that their fees are low compared to many competitors. This makes IC Markets an attractive option for both frequent and occasional traders.
IC Markets Leverage
IC Markets offers competitive IC Markets leverage options, particularly for Australian traders. This high leverage, combined with low spreads, contributes to its reputation as a leading broker.
For MetaTrader raw spread accounts, typical fees for major currency pairs like EURUSD and GBPUSD involve a $3.50 commission per lot per trade plus spread cost, with average spreads often at 0 pips during peak trading hours.
Conclusion
This comprehensive IC Markets review highlights its strengths as a well-regulated, client-focused broker with competitive offerings. For traders seeking a reliable platform, especially in Australia, IC Markets presents a compelling choice.
With strong regulatory backing from ASIC, diverse account types, and generally low fees, IC Markets stands out. It continues to be a top contender in the online trading landscape.
