IC Markets

IC Markets	Basic Information
Company Name	IC Markets
Founded	2007
Headquarters	Australia
Regulations	Suspected cloned regulations
Tradable Assets	Forex, commodities, stock CFDs, indices, cryptocurrency CFDs, metals, energies, soft commodities, bonds, futures, stocks, ETFs
Account Types	cTrader, Raw Spread, Standard
Minimum Deposit	$200
Maximum Leverage	Up to 1:500
Spreads	From 0.0 pips
Commission	Varies based on account type
Deposit Methods	Bank transfers, credit/debit cards, electronic wallets, cryptocurrencies, UnionPay, BPAY
Trading Platforms	MetaTrader 4, MetaTrader 5, cTrader, webIRESS, ProDeal
Customer Support	24/7 email and phone support, office in Seychelles
Education Resources	Forum, webinars, social media presence
Bonus Offerings	None

Overview of IC Markets

IC Markets is an Australian-based brokerage founded in 2007. While the company has been in operation for several years, there are concerns regarding its regulatory status, as its claimed regulations are suspected to be cloned. This raises questions about the broker's compliance with regulatory standards and the protection of client funds. Traders should exercise caution and carefully consider the potential risks associated with trading with a broker that lacks transparent regulation.

IC Markets offers a wide range of tradable assets, including forex, commodities, stock CFDs, indices, cryptocurrency CFDs, metals, energies, soft commodities, bonds, futures, stocks, and ETFs. Traders have access to different account types, such as cTrader, Raw Spread, and Standard, each with its own features and commission rates. The broker supports multiple deposit methods, including bank transfers, credit/debit cards, electronic wallets, cryptocurrencies, UnionPay, and BPAY, providing flexibility for clients.

Traders can utilize popular trading platforms like MetaTrader 4, MetaTrader 5, cTrader, webIRESS, and ProDeal to execute their trading strategies. However, it's important to note that the broker's regulatory concerns may impact the overall trust and credibility of the company. Traders should carefully evaluate the potential risks and consider alternative brokers that offer transparent regulation and a higher level of regulatory compliance.

Is IC Markets Legit？

IC Markets currently does not have valid regulation. It is important to note that the claimed regulations by this broker, including Australia's ASIC (license number: 335692), Cyprus' CYSEC (license number: 362/18), and Seychelles' FSA (license number: SD018), are suspected to be clones. Traders should exercise caution and be aware of the associated risks. Regulation plays a crucial role in ensuring the safety of funds, fair trading practices, and the protection of traders' interests. Therefore, it is recommended for traders to select a broker that is properly regulated by a reputable financial authority to mitigate potential risks.

Pros and Cons

IC Markets offers a wide range of tradable assets and multiple account types, providing traders with flexibility and choice. However, it is important to note that there are concerns regarding its regulatory status, as its claimed regulations are suspected to be cloned. Traders should exercise caution and carefully consider the associated risks.

Pros	Cons
None	Suspected cloned regulations
	Potential Legal and Compliance Risks
	Absence of Bonus Offerings

Trading Instruments

IC Markets offers a wide range of trading instruments across various asset classes, providing traders with diverse opportunities. Here is a breakdown of the major categories of tradable assets available:

1. Forex: Traders can access 61 currency pairs, including major pairs like GBP/USD, USD/CHF, USD/JPY, and EUR/USD, as well as minor and exotic pairs.

2. Commodities: IC Markets provides trading in 44 commodities, including popular options like gold, silver, platinum, and palladium.

3. Global Stock CFDs: With over 2,100 stock CFDs available, traders can participate in the stock market by trading CFDs of companies listed on exchanges around the world, such as NASDAQ and Hong Kong Stock Exchange.

4. Indices: IC Markets offers 25 indices, allowing traders to speculate on the performance of various stock indices, including Japan 225, India 50, Canada 60, and Spain 35.

5. Cryptocurrency CFDs: Traders can trade CFDs of 21 cryptocurrencies, including well-known digital currencies like Bitcoin, Ethereum, Cardano, and Dogecoin.

In addition to these major categories, IC Markets also provides trading opportunities in other instruments such as metals, energies, soft commodities, bonds, futures, stocks, and ETFs. This diverse selection allows traders to explore different markets, implement various trading strategies, and diversify their investment portfolios. It's important to note that when trading CFDs, traders speculate on the price movements of the underlying assets without owning the actual assets.

Here is a comparison table of trading instruments offered by different brokers:

Broker	IC Markets	Exness	FxPro	VantageFX
Forex	Yes	Yes	Yes	Yes
Commodities	Yes	Yes	Yes	Yes
Crypto	Yes	Yes	Yes	No
CFD	Yes	Yes	Yes	Yes
Indexes	Yes	Yes	Yes	Yes
Stock	Yes	Yes	Yes	Yes
ETF	Yes	No	No	No
Options	No	No	Yes	No

Account Types

IC Markets offers three main types of trading accounts: cTrader, Raw Spread, and Standard. Each account type has its own features and specifications to cater to the needs of different traders. Here is a brief description of each account:

1. cTrader Account: This account type utilizes the cTrader trading platform, which is known for its advanced features and user-friendly interface. It offers spreads starting from 0.0 pips, making it an attractive choice for traders seeking tight spreads. The commission per lot is $3.0, and the leverage provided is up to 1:500. The server location for this account is in London. Additionally, micro-lot trading is available, allowing traders to trade smaller position sizes.

2. Raw Spread Account: The Raw Spread account operates on the MetaTrader platform and provides traders with raw spreads starting from 0.0 pips. This account charges a commission of $3.5 per lot traded. The leverage offered is also up to 1:500. The server location for this account is in New York. Like the cTrader account, micro-lot trading is available, enabling traders to trade with smaller position sizes.

3. Standard Account: The Standard account also utilizes the MetaTrader platform and offers spreads starting from 0.6 pips. Unlike the previous two accounts, there is no commission charged for trading on the Standard account. The leverage provided is up to 1:500, and the server location is in New York. Micro-lot trading is available for this account, allowing traders to trade smaller volumes.

These account types provide traders with options based on their trading preferences, whether they prioritize tight spreads with commissions (cTrader and Raw Spread) or prefer a commission-free trading structure (Standard). The choice of trading platform and account type depends on individual trading strategies and preferences.

How to Open an Account？

To open an account with IC Markets, follow these steps:

1. Click on the “Start Trading Now” button on the IC Markets website. This will take you to the account registration page.

2. Register your email address and create a password to access your account. This will be your login credentials for future access.

3. Fill in your personal details, including your date of birth and physical address. These details are required for account verification and regulatory compliance.

4. Choose your preferred base currency and select the type of account you want to open. IC Markets offers different account types to suit various trading needs.

5. Complete a short questionnaire about your trading experience. This helps IC Markets ensure that traders have a basic understanding of the risks involved in trading.

6. Prepare the necessary identification documents. IC Markets requires two documents for identity verification:

a. Provide a valid photo ID, such as a passport, driver's license, or national ID card.

b. Submit a secondary ID, such as a bank statement or utility bill, that shows your full name and address. The document should be dated within the last three months.

7. Upload the required identification documents through the account registration portal. Make sure the documents are clear and legible.

8. Review and confirm your account details. Double-check all the information you have provided to ensure accuracy.

9. Submit your account application. Once your application is submitted, IC Markets will review the information and documents provided.

10. Wait for the account approval. IC Markets will process your application and notify you once your account is approved and ready for trading.

By following these numbered steps and providing the necessary information and documents, you can successfully open an account with IC Markets and begin your trading journey with them.

Leverage

IC Markets provides leverage for various financial instruments to enhance trading opportunities. Here is a summary of the leverage offered:

- Bonds: Leverage up to 200:1

- Commodities: Leverage up to 100:1

- Cryptocurrencies: Leverage up to 5:1

- Stock CFDs: Leverage up to 20:1

- Forex: Leverage up to 500:1

- Futures: Leverage up to 200:1

- Indices: Leverage up to 200:1

Leverage allows traders to control larger positions with a smaller amount of capital. However, it's important to remember that higher leverage also increases the potential risk. Traders should exercise caution and employ proper risk management strategies when utilizing leverage in their trading activities. The specific leverage available may be subject to regulatory requirements and the chosen trading platform.

Here is a comparison table of maximum leverage offered by different brokers:

Broker	IC Markets	FxPro	VantageFX	RoboForex
Maximum Leverage	1:500	1:200	to 1:500	1:2000

Spreads and Commissions (Trading Fees)

IC Markets offers competitive spreads and commissions across its different account types. Here is a breakdown of the spreads and commissions:

- Raw Spread Account (cTrader): This account type is designed for traders who prefer trading on the cTrader platform. It offers tight spreads starting from 0 pips, allowing traders to access the interbank market with minimal cost. The commission charged per USD 100k traded is $3.0.

- Raw Spread Account (MetaTrader): Traders using the MetaTrader platform can also benefit from the Raw Spread Account. It offers spreads starting from 0 pips, providing competitive pricing for various trading instruments. The commission for this account type is $3.5 per lot per side.

- Standard Account: The Standard Account is a popular choice among traders. It offers spreads starting from 0.6 pips, making it suitable for traders who prefer a more traditional trading structure without commissions. There is no commission charged for this account type.

IC Markets aims to provide transparent pricing with tight spreads and competitive commissions. Traders can choose the account type that best suits their trading style and preferences. It's important to note that spreads may vary depending on market conditions, volatility, and liquidity. Traders should consider these factors when assessing the potential trading costs associated with their preferred account type.

Non-Trading Fees

IC Markets imposes relatively average swap fees for holding positions overnight. The specific swap fees charged vary depending on the currency pair and whether you hold a buy or sell position. For example, for one full-sized contract of EUR/USD, there is a charge of $7.50 for holding a buy position overnight, while there is a credit of $4.60 for holding a sell position overnight. Similarly, for GBP/JPY, there is a credit of $15 for holding a buy position overnight, but a charge of $17.20 for holding a sell position overnight. These fees are subject to change and traders should refer to the latest information provided by IC Markets.

On a positive note, IC Markets does not charge any account maintenance fees or inactivity fees. This means that traders are not required to pay any additional fees for simply maintaining an account or if there is no trading activity for a certain period. This is advantageous for traders who may have periods of lower trading activity or who take breaks from trading, as it eliminates any additional costs associated with account maintenance or inactivity.

It's important for traders to review the specific swap fees and consider them as part of their overall trading costs. By being aware of these fees in advance, traders can make informed decisions and effectively manage their trading expenses.

Deposit & Withdraw Methods

IC Markets offers clients a wide range of deposit and withdrawal methods, ensuring convenient and efficient transactions. Clients can choose from various options such as bank transfers, credit/debit cards, electronic wallets, and more. It's important to note that while most methods do not incur any fees, bank wire transfers are charged a fee of $20, and third-party payment processor costs may apply. Traders should review the specific details and costs associated with each method to determine the most suitable option for their needs.

When it comes to deposits, clients can use bank transfers, credit/debit cards, electronic wallets, and other methods to fund their trading accounts. These options provide flexibility and convenience, allowing traders to choose the method that suits them best.

For withdrawals, clients have similar options available, including bank transfers, credit/debit cards, and electronic wallets. IC Markets does not charge any withdrawal fees, making it cost-effective for clients to access their funds. It's worth noting that withdrawals are typically processed within the same day if the request is received before noon AEST/AEDT, ensuring timely access to funds.

In addition to the mentioned methods, IC Markets also supports payment with cryptocurrencies, UnionPay, Credit/Debit cards, and BPAY. These additional options provide even more flexibility for clients when managing their funds.

Overall, IC Markets aims to provide a seamless and convenient deposit and withdrawal experience for its clients by offering a diverse range of payment methods. Traders can choose the method that aligns with their preferences, ensuring efficient and hassle-free transactions.

Trading Platforms

IC Markets provides traders with a range of trading platforms to cater to different trading styles and preferences. The platforms available include MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, webIRESS, and ProDeal.

MetaTrader 4 (MT4) is a widely popular platform known for its user-friendly interface and extensive features. It offers a range of technical indicators, advanced charting tools, customizable market analysis, and automated trading options. Traders can access a vast library of Expert Advisors (EAs) and perform back-testing to evaluate trading strategies.

MetaTrader 5 (MT5) is an upgraded version of MT4, offering additional features and capabilities. It provides enhanced charting options, more advanced analytical tools, and an expanded range of order types. MT5 is suitable for traders who require a comprehensive trading platform with advanced functionality.

cTrader is a platform specifically designed for ECN (Electronic Communication Network) trading. It offers a transparent trading environment and features automated trading solutions. Traders can choose from various auto-trading options, including ZuluTrade, Myfxbook's AutoTrade, and Signal Trader's mirroring technology. cTrader is available on desktop, web, and mobile devices, providing flexibility and accessibility for traders.

In addition to these platforms, IC Markets also offers webIRESS and ProDeal. webIRESS is a web-based platform that provides direct market access (DMA) and advanced charting capabilities. ProDeal is a platform designed for professional traders, offering advanced order types, in-depth market data, and sophisticated trading tools.

With a diverse selection of trading platforms, IC Markets aims to accommodate traders of all levels and provide them with the necessary tools and features to execute their trading strategies effectively. Traders can choose the platform that best suits their needs and preferences to access the financial markets with confidence.

Customer Support

IC Markets offers comprehensive customer support to assist traders with their inquiries and concerns. Traders can contact the support team 24/7 through various channels, ensuring prompt assistance when needed.

For general inquiries and support, traders can reach out via email to support@icmarkets.com. For account-related inquiries, they can contact accounts@icmarkets.com, and for marketing-related queries, they can email marketing@icmarkets.com.

If traders prefer to speak with a representative directly, IC Markets provides phone support with contact numbers available for different regions. They have specific numbers for Brazil (+558008783054), Thailand (+661800011956), Indonesia (+6280332160329), Colombia (+5718005190364), and Vietnam (+8412032513). Traders can call the appropriate number to connect with a customer support representative.

In addition, IC Markets has an office located in Seychelles. Traders can visit the office at Eden Plaza, Office 222, Eden Island, Mahe, Seychelles, during office hours, which are Monday to Saturday (AEDT) from 07:00 to 07:00 and Sunday to Friday (GMT) from 22:00 to 22:00. The contact number for the office is +248 467 19 76.

With its accessible contact options, including email, phone support, and an office location, IC Markets aims to provide convenient and responsive customer support, ensuring that traders receive the assistance they need.

Educational Resources and Community Support

IC Markets provides a vibrant community support system for traders. The broker offers a forum where traders can engage with each other, ask questions, and share insights and experiences. The forum serves as a platform for traders to connect, learn from one another, and build a supportive community.

Additionally, IC Markets has an active presence on social media platforms like Facebook, Twitter, and YouTube. Traders can follow their social media accounts to stay updated on the latest market news, educational content, and promotional offers. The social media channels also provide a space for traders to interact with the broker and fellow traders, fostering a sense of community and collaboration.

Furthermore, IC Markets organizes regular webinars and live trading sessions conducted by industry experts. These events cover a wide range of topics, including technical analysis, trading strategies, risk management, and market insights. Traders have the opportunity to learn from experienced professionals and gain valuable knowledge to enhance their trading skills.

Overall, IC Markets offers a comprehensive educational resource center and community support system to empower traders with the necessary knowledge and support for their trading journey. Whether through educational materials, webinars, or community interactions, IC Markets aims to facilitate continuous learning and development among its traders.

Conclusion

In conclusion, IC Markets is an Australian brokerage offering a wide range of tradable assets and various account types. However, the broker faces significant disadvantages due to concerns regarding its regulatory status, with suspicions of cloned regulations. This raises questions about the broker's compliance with regulatory standards and the safety of client funds. While IC Markets provides competitive trading conditions, diverse deposit methods, and access to popular trading platforms, traders should exercise caution and carefully evaluate the potential risks associated with trading with a broker lacking transparent regulation. It is recommended that traders consider alternative brokers with solid regulatory oversight to ensure the security of their investments.

FAQs

Q: Is IC Markets regulated？

A: IC Markets claims to be regulated by reputable authorities such as ASIC, CYSEC, and FSA. However, there are suspicions of cloned regulations, and it is advisable for traders to exercise caution and thoroughly research the broker's regulatory status.

Q: What trading platforms does IC Markets offer？

A: IC Markets provides access to popular trading platforms such as MetaTrader 4, MetaTrader 5, and cTrader. These platforms offer advanced features, charting tools, and automated trading options.

Q: What are the account types available at IC Markets？

A: IC Markets offers different account types, including cTrader, Raw Spread, and Standard. Each account type has its own features, such as varying spreads and commission structures, to cater to the diverse needs of traders.

Q: What deposit and withdrawal methods does IC Markets support？

A: IC Markets offers a range of deposit and withdrawal methods, including bank transfers, credit/debit cards, electronic wallets, cryptocurrencies, UnionPay, and BPAY. Traders can choose the method that is most convenient for them.

Q: What educational resources are available at IC Markets？

A: IC Markets provides educational resources such as forums, webinars, and social media content. Traders can access valuable information on forex basics, technical analysis, fundamental analysis, risk management, trading psychology, and more.