ICMarkets-Overview of Minimum Deposit, Leverage, Spreads

Note: Since ICMarkets official site (https://ictrademarkets.com/index.html) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.

General Information & Regulation

ICMarkets, a trading name of IC TRADE MARKET, is allegedly a suspected fake clone forex broker registered in Australia that claims to provide its clients with leverage up to 500:1 and raw spreads from 0.0 pips for forex trading on the cTrader trading platform, as well as a choice of four different account types.

Market Instruments

ICMarkets advertises that it mainly offers forex trading.

Account Types

There are four live trading accounts offered by ICMarkets, namely Raw Spread, Standard, Islamic and cTrader Raw Spread accounts. Opening a Raw Spread account requires the minimum initial deposit amount of $200.

Leverage

The maximum leverage ratio provided by ICMarkets is much higher than most brokers, up to 500:1. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads

Clients on different account types of ICMarkets can experience different spreads. In particular, the Raw Spread and Islamic accounts can enjoy raw spreads from 0.0 pips while the Standard account can experience the minimum spread of 1.0 pip.

Trading Platform Available

When it comes to available trading platforms, ICMarkets gives traders cTrader as its trading platform. Anyway, we suggest you use MT4 or MT5 as the trading platform. MetaTrader is the most popular forex trading platform, which the traders praise for its stability and trustworthiness. It features sophisticated trading tools such as Expert Advisors, Algo trading, Complex indicators and Strategy tester. Metatrader created a marketplace with currently 10,000+ trading apps the traders can utilize to achieve better results. Both MT4 and MT5 have mobile Apps, trading can be done from anywhere and at any time through the right mobile terminals including iOS and Android devices.

Customer Support

ICMarkets‘ customer support can be reached by telephone: +1 (469) 373 4362, email: support@ictrademarkets.com. Besides, you can also follow this broker on some social media platforms such as Twitter, Facebook and Instagram. However, this broker doesn’t disclose other more direct contact information like the company address that most brokers offer.