IC Markets is a forex broker located in Australia.
In this article, you’ll get a review of this broker, including analysis and instructions to open an account with IC Markets.
Here’s what you’re going to learn:
- What is IC Markets?
- What Can You Trade With IC Markets?
- What Is The IC Markets Minimum Deposit?
- What Is The IC Markets Leverage?
- IC Markets Reviews
- IC Markets Regulation
- IC Markets Trading Platforms
- IC Markets Account Types
- IC Markets Professional Account
- IC Markets Deposit Bonus
- IC Markets No Deposit Bonus
- IC Markets Contacts And Headquarters Location
- IC Markets Payment Methods
- IC Markets Negative Balance Protection
- IC Markets Margin Call
- IC Markets Margin Stop Out
- IC Markets Micro Account
- IC Markets Free VPS
- IC Markets Inactivity Fee
- Is IC Markets Legit?
- IC Markets Hedging
- IC Markets Copy Trading
- IC Markets Social Trading
- IC Markets Max Lot Size
- IC Markets Spreads
- IC Markets Minimum Withdrawal
- IC Markets Countries
- IC Markets Alternatives
- Recap
What Is IC Markets?
IC Markets is a forex broker located in Sydney, Australia, and was founded in 2007.
What Can You Trade With IC Markets?
IC Markets is a Forex broker that gives you a wide range of instruments to trade besides Forex.
Here’s a list of all of the instruments that you can trade with IC Markets:
- Forex Major currency pairs
- Forex Minor currency pairs
- Forex Exotic currency pairs
- Energies: Brent Crude Oil, WTI Crude Oil, and Natural Gas
- Metals: Silver, Gold, Palladium, and Platinum
- Indices: A wide range that includes Dax, Dow Jones, Nasdaq, SP500, AUS200, CAC40, FTSE,… A total of 25 indices are available to trade.
- Crypto: The offer is pretty big, it includes BTC, ETH, LTC, Dash, XRP, ADA, DOGE, AAVE, UNI, BNB, DOT, LINK, SOL, and more
- Bonds
- Stocks: All major US stocks are there, like TSLA, META, AAPL, and more. Besides that, there are also available Nasdaq ETFs, EU stocks, and UK stocks.
What Is The IC Markets Minimum Deposit?
To open a real account with IC Markets, you need to deposit a minimum of $200.
You don’t need to deposit anything if you’re just trying the broker and testing a demo account.
What Is The IC Markets Leverage?
The IC Markets leverage limits vary according to the jurisdiction where you opened your account.
Here’s the leverage provided by IC Markets:
- IC Markets Global: up to 1:1000
- IC Markets Australia: up to 1:30
- IC Markets EU: up to 1:30
IC Markets Reviews
According to Trustpilot, IC Markets is classified as excellent. It’s scoring an impressive 4.8/5.0 after more than 30,000 reviews.
IC Markets Regulation
When you open an account with IC Markets, it will fall under the regulator that is more suitable for your jurisdiction. In other words, your regulator will depend on whether you live.
Here are the three possible regulators:
- CySEC (Cyprus Securities and Exchange Commission) is used for European clients.
- ASIC (Australian Securities and Investments Commission) is used for Australian clients.
- FSA (Seychelles Financial Services Authority) is used for the rest of the world.
You may be given the option to choose your regulator too.
IC Markets Trading Platforms
IC Markets gives you access to the most popular trading platforms used by Forex brokers.
You can use:
- MetaTrader 4
- MetaTrader 5
- cTrader
- TradingView
All of them have web and mobile versions, meaning that you can easily trade wherever you are.
IC Markets Account Types
There are three main account types provided by IC Markets.
They are:
- Raw spread account: Probably the most popular one, with very small or even zero spread. On the other hand, you will have commissions on some symbols.
- Standard account: This account type doesn’t have any commission. However, the spreads are a bit bigger than in the raw spread account.
- Islamic account: Also known as swap-free accounts, for clients who cannot earn or pay interest due to their religious beliefs.
IC Markets Professional Account
You can apply to get a professional account with IC Markets as long as you meet the criteria.
The biggest advantage of getting a professional account is to avoid leverage restrictions. In some jurisdictions, like the EU, there are restrictions on the leverage that brokers can offer to retail traders. If you qualify to get a professional account, those restrictions will not apply to you, and you can enjoy a bigger leverage provided by IC Markets.
IC Markets Deposit Bonus
It’s not always, but from time to time IC Markets makes campaigns that offer a 10% deposit bonus.
Check if you qualify to receive the deposit bonus using the button below:
IC Markets No Deposit Bonus
Unfortunately, IC Markets doesn’t offer a no-deposit bonus for new clients.
You can, on some periods, get a deposit bonus though. Check the previous chapter of this article.
IC Markets Contacts And Headquarters Location
IC Markets has three different locations, here are their contacts:
IC Markets Australia
- Email: support@icmarkets.com.au
- Phone: +61 02 8014 4280
- Address: Level 4, 50, Carrington Street, Sydney, NSW 2000, Australia
IC Markets Europe
- Email: support@icmarkets.eu
- Phone: +35725010480
- Address: 86 Franklinou Roosvelt, 4th floor, Office 401, 3011 Omonoia, Limassol, Cyprus
IC Markets Global
- Email: support@icmarkets.com
- Phone: +248 467 19 76
- Address: Eden Plaza, Office 222, Eden Island, Mahe, Seychelles
IC Markets Payment Methods
IC Markets accepts a wide range of methods either to deposit or to withdraw.
Some of the payment methods may not be available, depending on the IC Markets jurisdiction where you opened your account.
Here’s a list of them:
- Credit and debit cards
- PayPal
- Neteller
- Skrill
- Wire Transfer
- Rapidpay
- Klarna
- Bpay
- Thai Internet Banking
- Vietnamese Internet Banking
- UnionPay
- POLI
IC Markets Negative Balance Protection
Yes, IC Markets offers a negative balance protection for EU clients.
If you have an account with IC Markets Global, negative balance protection is not offered.
IC Markets Margin Call
The IC Markets margin call is 100%.
This means that you always need to maintain an equity that is bigger than the margin required to keep your positions open.
If your equity (Balance + Open Profit or Loss) falls below the required margin you will receive a margin call.
IC Markets Margin Stop Out
The IC Markets margin stop-out level is 50%.
What this means is that your free margin must always be above 50%. If it falls under this value, the platform will start to automatically close your positions to keep the free margin above the threshold.
Typically, the positions are closed from the largest losing position to the smallest one.
IC Markets Micro Account
IC Markets offers Micro Accounts to its customers.
This means that you can trade using micro lots, equivalent to 1,000 units of the base currency, which is the same as trading with a 0.01 lot size.
IC Markets Free VPS
IC Markets offers a free VPS subscription if your trading volume exceeds 15 lots (round turn) per month.
These VPS providers are located close to their Equinix data centers, with latency as low as 1 ms.
If your thing is EA trading, and your trading volume exceeds the minimum threshold, then apply to your free VPS.
IC Markets Inactivity Fee
There’s no inactivity fee with IC Markets. This is great because you can stop trading for the time that you want, and you can be sure that no inactivity fee will be charged to you.
Is IC Markets Legit?
Yes, IC Markets is a legit broker and company.
On the other hand, it doesn’t provide services to residents of some countries, or a country where providing that service would be contrary to the local law or regulation.
IC Markets Hedging
There are no restrictions against hedging with your IC Markets account. Heding accounts are the default with IC Markets.
This means that you can open long and short positions on the same symbol at the same time.
If you don’t like hedging accounts, there’s also an alternative. They are called the NET accounts. With these types of accounts, on each specific symbol, you can only have one single position in one direction.
Net accounts are especially useful when you want to be able to add and reduce your position size.
Is Copy Trading Allowed With IC Markets?
You are allowed to do copy trading on your IC Markets account.
The signals you copy can come from any source. You just need a copy trading software.
IC Markets Social Trading
IC Markets offers a good variety of social trading sources.
By using IC Market’s social trading, you can copy trading strategies from other traders, replicating their performance. Just make sure that you choose your sources wisely and make the most of IC Market’s social trading features.
You also have the option to copy traders from Pelican Trade by connecting your IC Markets account to their service.
The popular Zulutrade copy trading service is also ready for you to use. Just check them all, find the traders that you identify with, and copy their trades automatically.
IC Markets Max Lot Size
When trading IC Markets forex currency pairs, your lot sizes start at 0.01 and can go up to 200.
If you trade other symbols, like indices, or metals, the maximum lot sizes may vary.
IC Markets Spreads
IC Markets is one of the brokers with the best spreads, starting with as low as 0.
It depends on the account type that you choose though.
For most Forex currency pairs, the minimum spread is as low as 0, when you choose the Raw Spread Account. This account charges commissions based on the lot size that you trade.
On the other hand, the Standard Account doesn’t charge any commissions. The spreads will also be bigger, with an average of 0.6 pips.
IC Markets Minimum Withdrawal
There is no minimum amount to be able to request a withdrawal from IC Markets.
However, some withdrawal methods may have some fees, like international bank transfers. So, although you don’t need to meet a minimum withdrawal amount with IC Markets, you must be aware of these fees that can reduce considerably the amount that you receive if your withdrawal amount is very small.
IC Markets Countries
IC Markets accepts residents from all over the world except some specific countries. IC Markets doesn’t accept clients from the United States, Canada, Israel, New Zealand, Iran, and North Korea.
IC Markets Alternatives
Here is a list of the best IC Markets alternatives:
Recap
- IC Markets is a broker that allows you to trade Forex currency pairs, Energies, Metals, Indices, Crypto, Bonds, and Stocks.
- You can start trading with a minimum of as low as $200
- The popular MT4 and MT5 platforms are available to trade, as well as cTrader and TradingView
