Introduction

IC Markets is a globally recognized online Forex and CFD broker, celebrated for its commitment to offering competitive trading conditions, advanced technology, and excellent customer service. Established in 2007, it has become a popular choice among both beginner and experienced traders seeking raw spreads, fast execution, and access to a wide range of financial instruments. Operating under an ECN/STP model, IC Markets aims to provide a transparent and fair trading environment.

Key Features

• Raw Spreads & Low Commissions: Offers some of the tightest raw spreads in the industry, often from 0.0 pips, with competitive commission rates on its Raw Spread accounts.
• Multiple Trading Platforms: Supports the industry-standard MetaTrader 4 (MT4), MetaTrader 5 (MT5), and the sophisticated cTrader platform, catering to diverse trading styles and preferences.
• ECN/STP Execution Model: Provides direct access to interbank liquidity, ensuring minimal requotes and ultra-fast order execution.
• Wide Range of Instruments: Traders can access over 1700 financial instruments, including Forex, Indices, Commodities, Cryptocurrencies, Stocks, and Bonds.
• Flexible Leverage: Offers high leverage options, allowing traders to maximize their trading potential (subject to regulatory restrictions).
• Diverse Funding Methods: Supports various convenient deposit and withdrawal options, often with no fees, including bank transfers, credit/debit cards, PayPal, Skrill, Neteller, and more.
• Excellent Customer Support: Provides 24/7 multilingual customer support via live chat, email, and phone.
• Educational Resources: Offers a range of educational materials, including articles, tutorials, and webinars, to help traders enhance their skills.

Pros

• Highly Competitive Spreads: Exceptionally low spreads, especially on Raw Spread accounts, making it cost-effective for frequent traders and scalpers.
• Fast Execution Speeds: ECN model ensures rapid order execution, crucial for high-frequency trading and scalping strategies.
• Reliable Regulation: Regulated by reputable authorities such as the ASIC (Australia), CySEC (Cyprus), and FSA (Seychelles), providing a secure trading environment.
• Choice of Advanced Platforms: Availability of MT4, MT5, and cTrader caters to a broad spectrum of traders, from beginners to advanced algorithmic traders.
• Extensive Asset Selection: A vast array of tradable instruments allows for portfolio diversification.
• Excellent for Automated Trading: Ideal conditions for Expert Advisors (EAs) and algorithmic trading strategies due to tight spreads and fast execution.
• 24/7 Customer Service: Responsive and knowledgeable support team available around the clock.

Cons

• No Proprietary Platform: Relies solely on third-party platforms, which might not appeal to users looking for a unique, in-house trading experience.
• Limited Geographic Reach: Services are not available in certain countries, including the United States, due to regulatory restrictions.
• Educational Content: While present, the educational resources might be less extensive or beginner-friendly compared to some competitors solely focused on new traders.
• Commission Structure Complexity: For new traders, understanding the commission structure on Raw Spread accounts might require a brief learning curve.

Pricing

IC Markets offers two main account types with distinct pricing structures:

• Standard Account: This account type is commission-free, with all costs incorporated into the spread. Spreads start from 0.6 pips. This is often preferred by new traders or those who prefer simpler pricing.
• Raw Spread Account (MT4/MT5): Designed for scalpers and high-volume traders, this account offers raw spreads starting from 0.0 pips. A commission of $3.50 per standard lot per side (or $7.00 per standard lot round turn) is charged.
• Raw Spread Account (cTrader): Similar to the MT4/MT5 Raw Spread account, but with a commission of $3.00 per $100,000 traded per side (or $6.00 per $100,000 round turn).
• Minimum Deposit: The minimum initial deposit across all account types is $200 (or equivalent in other currencies).
• Deposit & Withdrawal Fees: IC Markets typically does not charge fees for most popular deposit and withdrawal methods, though third-party payment processors or banks may impose their own charges.