WikiFX Broker Assessment Series | Is IC Markets Global Reliable?

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Evaluate the reliability of IC Markets Global based on its general information and regulatory status

To understand IC Markets Global better, we explore it by analyzing three main perspectives:

A. General Info of IC Markets Global

B. Regulatory Status

A. General Info of IC Markets Global

About IC Markets Global

Founded in 2007, IC Markets Global is an Australian online forex and CFD broker that provides traders access to the global financial markets. The company is regulated by the Australian Securities and Investments Commission (ASIC). IC Markets offers a range of trading instruments, including forex, indices, commodities, and cryptocurrencies, and provides traders with advanced trading platforms such as MetaTrader 4, MetaTrader 5, and cTrader. The company also offers 24/7 customer support and a variety of educational resources for traders of all levels.

Account Types

IC Markets offers traders a range of account types with different trading platforms, commissions, and spreads. The CTrader and Raw spread accounts charge a commission of $3 and $3.5 respectively but offer spreads from 0.0 pips, while the Standard account has no commission but wider spreads from 0.6 pips.

IC Markets Global offers a free advanced demo account for beginner traders to practice on, which lasts for 30 days.

Leverage

IC Markets' maximum leverage offering of up to 1:500 can be beneficial for experienced traders who know how to manage their risks well.

It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favor and against you.

Trading Platform

IC Markets Global offers its clients a variety of trading platforms, including the popular MetaTrader4 and MetaTrader5 platforms as well as the cTrader platform. Each platform offers unique advantages and disadvantages, and traders can choose the platform that best suits their needs.

The MetaTrader4 and MetaTrader5 platforms are similar and offer a range of trading tools and indicators, as well as the ability to use Expert Advisors (EAs) and automate trading strategies.

The cTrader platform, on the other hand, offers advanced charting capabilities and a variety of order types. However, it has a steeper learning curve and limited customization options compared to the MetaTrader4 and MetaTrader5 platforms.

Spreads & Commissions

IC Markets Global is known for its tight spreads and low commissions, making it a popular choice among traders. The broker offers a variety of account types to choose from, including the Raw Spread account with spreads starting from 0.0 pips and a $3.5 commission per lot traded, and the Standard account with spreads starting from 0.6 pips and no commission. The cTrader account also offers low spreads starting from 0.0 pips, with a $3 commission per lot traded.

Deposit & Withdrawal

IC Markets Global offers a variety of deposit and withdrawal options, including Neteller, Skrill, bank transfer, VISA, Mastercard, Paypal, credit/debit cards, Poli, wire transfer, rapidpay, and klarna. IC Markets Global does not charge any fees for deposits and withdrawals, however, additional fees may occur at some banking institutions.

Withdrawal requests have a cut off time at 12:00 AEST/AEDT, and take up to 10 business days to process depending on the bank. International bank wire transfers take up to 14 days and incur additional intermediary and/or beneficiary fees. Credit/debit card withdrawals are processed free of charge and take 3-5 business days to reach your credit card. Paypal/Neteller/Skrill withdrawals are processed instantly and free of charge, but must be made from the same account as the initial funds were sent from.

B. Regulatory Status

What is a Legitimate License？

l The legitimate license is the business license issued by the financial regulatory institution of each country/region.

l Holding a license means that the broker is recognized and regulated by the regulatory authority, therefore your money is under protection to some extent.

l Whether a forex brokerage firm holds a legitimate license or not is one of the important factors in evaluating the reliability of forex brokers.

l The content of the regulation and the difficulty of obtaining a license vary with the country and agency issuing the license.

The legitimate license of IC Markets Global

IC Markets Global maintains regulatory compliance in both Australia and Cyprus, adhering to the respective financial regulatory standards in these jurisdictions. Regulatory oversight by ASIC and CYSEC contributes to a safer trading environment for clients.

Field Investigation

To help you fully understand the broker, WikiFX also investigates the brokers by sending surveyors to the brokers physical addresses.

On WikiFX, you can visually check the physical addresses of brokers by pressing the “Survey” button.

WikiFX did an on-site survey on IC Markets Globals address and successfully found the office.

Conclusion

IC Markets Global is a reputable broker. The WikiFX score of a broker can be increased or decreased if the broker is constantly running the business in a good or bad direction. Before deciding to invest with IC Markets Global or any other broker, it's crucial to stay updated with the latest information on WikiFX and conduct your due diligence. Market conditions and broker reputations can change, so make sure to make informed decisions to avoid potential regrets in your trading journey.

If you want more information about brokers' reliability, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find your most trusted broker.

Questions

Do you know what the broker mentioned in this article's WikiFX score is？

WikiFX rates IC Markets Global based on five dimensions in this article: license, regulation, business, Risk Control, and software. Do you know what score WikiFX gave for Risk Control？

Addition

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