IC Markets Status
| Regulated | Max Leverage | Platforms | Min Deposit | Funding | |
| IC Markets | ASIC, CySEC, FSA, SCB | 1:500 | MetaTrader 4, MetaTrader 5, cTrader | $200 | Bank Transfer, Credit/Debit Card, E-Wallets |
Regulated
IC Markets operates as a global broker for CFDs and has a presence in a number of jurisdictions to cater for different needs. When registering, clients have the freedom to choose which entity they prefer to open a trading account with.
The main differences between these entities are their regulatory bodies and the products available. Your choice will depend on your personal preferences, be it leverage, regulation or available instruments. Certain regulatory bodies place restrictions on what brokers can offer, so you need to balance the importance of regulation against your desire for trading freedom. IC Markets is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Supervisory Authority (FSA), the Securities Commission of the Bahamas (SCB) and the Australian Securities and Investments Commission (ASIC).
This rigorous regulatory framework ensures that you’re dealing with a trustworthy and transparent broker. In fact, IC Markets is one of the most highly regulated brokers, comparable to AvaTrade. They serve clients worldwide, with a few exceptions such as the USA, Canada, Israel, New Zealand, Japan, Iran and some OFAC listed countries. Restrictions imposed by the US CTFC prevent American customers from trading with brokers based outside the US.
Accounts
IC Markets offers two different account options, the true ECN account and the standard account. The minimum deposit requirement starts at $200, which is a common threshold among leading brokers.
Overall, the True ECN account offers consistently tight spreads and robust liquidity around the clock, thanks to more than 50 different sources of liquidity. IC Markets has set a leverage limit of 1:30 for its European and Australian entities. However, for their global entity, leverage can be as high as 1:500.
True ECN
The True ECN account offers the most competitive spreads, starting from 0.0 pips, accompanied by a modest commission fee of $3.5 per side.
Standard
In contrast, the Standard Account does not charge a commission fee. Instead, a surcharge is added to the variable spreads, which start at 1.0 pips.
Islamic
As a broker that respects the needs of different cultural and religious backgrounds, IC Markets offers Islamic accounts that are swap-free, ensuring that they adhere to the principles of Sharia law.
Platforms
IC Markets offers access to three of the most widely used and easy-to-use trading platforms available today, including MetaTrader 4, MetaTrader 5 and cTrader. All of these platforms offer the True ECN trading model at no additional charge and are designed for traders of all levels. Regardless of the size of your investment, you have the opportunity to benefit from the most advantageous trading conditions they offer.
MetaTrader 4
Provided by IC Markets, MT4 is a widely used trading platform suitable for both new and experienced traders, offering a range of features including customisable charts, real-time quotes and automated trading. It offers users fast execution speeds, low commissions and flexible trading conditions on both desktop and mobile platforms. The platform also supports strategy backtesting and MQL4 programming for customised trading tools.
MetaTrader 5
MT5, a comprehensive trading platform offered by IC Markets, supports trading in Forex, Stocks, Indices, Bonds, Cryptocurrencies and Commodities. An updated version of MT4, MT5 offers advanced charting, sophisticated order management, ultra-fast order execution and many other useful features. Suitable for both accounts, the platform provides traders with an efficient, unrestricted trading experience across multiple devices.
cTrader
IC Markets’ cTrader platform is designed for fast execution and offers a sleek user interface with advanced features. It can handle various trading strategies and offers deep liquidity. However, it’s not as widely available as the MetaTrader. cTrader offers access to a large pool of liquidity and various trading features, including real-time quotes, market-leading spreads, low commissions, ultra-fast execution and more.
Tools
MAM / PAMM
IC Markets’ Multi Account Manager (MAM) provides seamless management of client funds with customisable allocation methods and real-time performance and commission reporting. The MAM software coordinates all allocation settings directly with the IC Markets MetaTrader 4 server, allowing money managers to focus on trading via the MetaTrader 4 master account while the software takes care of the rest.
Perfect for traders or money managers using Expert Advisors (EA), this software extends the functionality of the MetaTrader 4 platform by allowing multiple accounts to be managed from a single, user-friendly interface. With preset allocation methods, block orders can be executed with a single click from the master account. Thousands of accounts can be traded simultaneously with virtually no additional latency. The software can operate as a MAM, PAMM or LAMM with different variations of each depending on the allocation methods.
The main allocation methods include Proportional by Balance Allocation and Proportional by Equity Allocation. MAM/PAMM features include real-time adjustment of trading parameters, acceptance of all standard and unique order types, EA trading of managed accounts from the client side, real-time monitoring of commissions and performance, and management of periodic client reports through the MetaTrader Manager.
For money managers, this tool offers the flexibility to add and/or remove funds without affecting trading activity, professional reporting analytics for you and your clients, and solutions for both EA managers and manual managers.
VPS
A VPS hosts your trading platform in the cloud, enabling 24/7 automated trading with optimal connectivity to IC Markets’ servers. It’s an ideal solution for those with unreliable internet connections or who wish to run automated systems continuously. If you have an account with IC Markets and your trading volume exceeds 15 lots per month, you’re eligible for a free VPS from selected providers. This is a valuable opportunity for those running automated trading systems.
ZuluTrade
ZuluTrade is a community based trading platform that allows users to replicate the trading signals of other participants. This platform can be used to duplicate trades directly into your IC Markets trading account. It’s possible to curate signal providers based on your personal risk tolerance. Signals can be added to or removed from your trading portfolio at any time.
Education
IC Markets offers a comprehensive suite of educational resources ideal for beginners. These materials include trading guides and video tutorials covering online trading basics, technical and fundamental analysis, and trading platforms.
Their free trading guides are aimed at new traders and cover topics such as market analysis and trading psychology. They also offer a WebTV in partnership with Trading Central, providing trading ideas and market commentary via short videos.
In addition, IC Markets hosts expert-led webinars that provide guidance on various industry topics. They also offer educational videos that provide a walkthrough of the trading platforms and instructions on market analysis and order placement. A free demo account is also available for risk-free trading practice.
Funding
IC Markets supports transactions in many major currencies and offers a wide range of fast, user-friendly deposit and withdrawal options, including digital wallets. I appreciate the ability to make transactions through e-wallets as it speeds up the transfer process to and from my trading account. In general, IC Markets does not charge any deposit or withdrawal fees, but I would recommend checking with your payment provider for any potential charges. Please note that certain payment methods may incur third party fees. Bank transfers can be time-consuming, taking several business days to process, which may not be convenient if you need to react quickly to market changes. The availability of multiple currency options is beneficial as it eliminates currency conversion fees if you use an account in your local currency. While this may not be a significant factor for small transactions, the cost could add up for larger transfers.
Summary
Established in 2007 and based in Sydney, Australia, IC Markets has grown to become one of the largest trading brokers in the world. As a multi-regulated true ECN broker, they provide trading solutions to retail and institutional clients worldwide.
IC Markets provides global access to over 2,000 trading instruments across multiple markets via popular trading platforms such as MetaTrader 4/5 and cTrader. The wide range of trading instruments includes Forex, commodities, cryptocurrencies, stocks, shares, indices, metals, energy, bonds and CFDs.
IC Markets is renowned for its low latency connectivity and superior liquidity. Its true ECN connectivity enables traders of all calibres to access institutional-grade liquidity from a wide range of major LPs including investment banks, hedge funds and dark pool venues. With over 50 different LPs and no dealing desk interference, traders have direct access to raw spreads and execution speeds with no price manipulation, re-quotes or hidden fees. This makes IC Markets a top choice for high volume traders, day traders and scalpers.
IC Markets boasts an average execution speed of less than 35ms, thanks to a low-latency fibre-optic cross-connect to LPs. Its order matching engine, located in New York’s Equinix NY4 data centre, processes hundreds of thousands of trades for clients every day, and IC Markets processes billions of dollars in trading volume daily.
