CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

IC Markets

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Home » Reviews » IC Markets

IC Markets Review

IC Markets is an ASIC-regulated ECN forex broker located in Australia. Dealers have access to a wide selection of instruments in various markets, such as currencies, while commodity traders have access to a number of energy, metals, and agricultures.

IC Markets, which has been in business since 2007, promotes itself as one of the top alternatives for automated traders, with algorithmic trading systems accounting for more than two-thirds of the 500,000 daily trades processed through its New York Equinix NY4 data centre. These data centres, located in the NY4 and LD5 data centres in New York and London, respectively, as well as specialized fibre optic cross connections to its ECN and liquidity providers, contribute to the company’s ability to give traders with one of the lowest latency and fastest possible trade executions.

Depth of Market (DoM), integrated spread monitoring, ladder trading, automatic closing of transactions with custom order templates, and other trading tools are offered at IC marketplaces. There are other trading applications for iPhone and Android that have been optimised to give a better mobile trading experience.

Pros

  • Established in 2007
  • Regulated by ASIC
  • Segregates client funds
  • Min. deposit from $200

Cons

A minimum deposit of $200 is required to create a live account. Alternatively, IC Markets provides a demo account that you may use to experiment and become acquainted with their platform.

ASIC regulated (AFSL #335692), IC Markets places all customer money in segregated bank accounts with tier-1 institutions. IC Markets was founded in 2007 and has its headquarters in Australia.

Before we get into the specifics of IC Markets’ spreads, fees, platforms, and trading features, you may want to open their website in a new tab by clicking the button below to get the most up-to-date information straight from them.

Visit IC MARKETS

Full disclosure: If you join up with a broker through one of our links, we may get a commission.

What are the spreads and fees at IC Markets?

IC Markets, like most brokers, charges a fee based on the spread, which is the difference between the buy and sell price of an asset.

The commissions and spreads shown here are based on the IC Markets website’s minimum spreads.

ForexIC MarketsPepperstoneMarkets.com
EUR/USD(Average: 0.7 pips)0 pips0.09 pips0.6 pips
GBP/USD(Average: 1.1 pips)0 pips0.38 pips0.9 pips
USD/JPY(Average: 1.1 pips)0 pips0.19 pips0.7 pips
AUD/USD(Average: 0.8 pips)0 pips0.17 pips0.6 pips
USD/CHF(Average: 2.3 pips)0 pips0.35 pips1.5 pips
USD/CAD(Average: 2.9 pips)0 pips0.27 pips1.4 pips
NZD/USD(Average: 3.6 pips)0 pips0.27 pips2.3 pips
EUR/GBP(Average: 2.4 pips)0 pips0.27 pips1.0 pips

Spreads are changeable and are provided solely for informational reasons.

As you can see, the minimum spread for trading EUR/USD at IC Markets is 0 pips, which is rather low when compared to the average EUR/USD spread of 0.70 pips. The table below compares the costs of trading one lot of EUR/USD with IC Markets to similar firms.

SEE ALL SPREADS

How much does IC Markets charge to trade 1 lot of EUR/USD?

If you bought one standard lot of EUR/USD (100,000 units) with IC Markets at 1.1719 and then sold it the next day at the same price, you would most likely pay $5.21. Here is a general breakdown of the fees and how they compare to IG and XTB.

IC MarketsIGXTB
Spread from:$ 0.00$ 6.00$ 2.00
Commission:$7.00$0.00$0.00
Total cost of a 100k trade:$ 7.00$ 6.00$ 2.00
$1 less$5 less
VISIT IC MARKETSVISIT IGVISIT XTB

All fees/prices are for informational purposes and are subject to change.

What markets can you trade with IC Markets?

IC Markets provides over 100 different trading products, including over 60 currency pairings. We’ve detailed all of the numerous types of instruments offered by IC Markets below, along with comparative instruments from IG and XTB.

FX / CurrenciesIC MarketsIGXTB
# of forex pairs offered609048
Major forex pairsYesYesYes
Minor forex pairsYesYes
Exotic forex pairsYesYes
Cryptocurrencies*YesYesYes
Commodity CFDsIC MarketsIGXTB
# of commodities offered193421
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalYesYesYes
Index & Stock CFDsIC MarketsIGXTB
# of stocks offered12080001606
UK sharesYesYesYes
US sharesYesYesYes
German sharesYesYesYes
Japanese sharesYesYesYes
SEE IC MARKETS’S INSTRUMENTSSEE IG’S INSTRUMENTSSEE XTB’S INSTRUMENTS

Visit IC Markets

How is the trading experience at IC Markets?

1) Platforms and apps

IC Markets is among the few brokers that provides both the MetaTrader 4 and MetaTrader 5 platforms. To discover how the two systems differ, check out our MT4 versus MT5 comparison. They are one of just a few brokers that offers the cTrader platform, which was designed for traders searching for a STP/ECN solution. Check out our cTrader broker comparison for a list of forex brokers that provide the cTrader platform.

They now provide mobile apps for Android and iOS, making it simpler to monitor and execute transactions while on the go.

CHECK OUT IC MARKETS’ PLATFORMS

Still unsure?

Open a practise account and begin learning to trade.

2) Executing Trades

You may perform a minimum trade of 0.01 Lot using IC Markets. This may differ based on the type of account you create. The maximum trading size depends on the trader and the instrument.

Because they provides ECN and STP execution, you may anticipate very narrow spreads and greater transparency in the price you pay to execute your transactions.

As an added benefit, they are one of the few brokers who claim to have no re-quotes, so you won’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).

Margin requirements, like those of other brokers, vary based on the trader, account, and instrument. The most recent margin requirements may be found on

Finally, we’ve included a list of some of the most common financing ways that IC Markets provides to its traders below.

Trading Features:

  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging

Accounts offered:

  • Standard account
  • Zero spread account
  • ECN accountDemo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account

Funding methods:

  • PayPal
  • Skrill
  • Credit cards
  • Bank Transfer
  • Neteller

3) Client support

English, Japanese, Chinese, Polish, Afrikaans, Danish, Dutch, and German are among the languages supported by IC Markets.

4) What you’ll need to open an account with IC Markets

Because IC Markets is ASIC-regulated, each new customer must pass a few simple compliance tests to try and understand the risks of trading and are permitted to trade. When you establish an account, you will most likely be asked for the following information, so keep it handy:

  • A utility bill or bank statement from the past three months showing your address
  • A scanned colour copy of your passport, driving license or national ID

You’ll also have to answer some few basic compliance inquiries to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.

While you may be able to browse their site immediately, it is essential to note that you will not be able to conduct any transactions until you pass compliance, which may take several days depending on your circumstances.

To begin the process of creating an account with IC Markets, go to their website.

IC Markets

Open a demo account

79% of retail investor accounts lose money when trading CFDs with this provider.

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