IC Markets: Trade forex and CFDs with one of the world’s largest brokers
IC Markets offers tight forex spreads as low as 0.0 pips and fast execution under 40 milliseconds on average
Disclaimer: Trading CFDs and forex on leverage is high-risk and you could lose more than your initial investment. It may not be suitable for every investor. Refer to the provider's PDS and consider the risks before trading.
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Details
| Type of broker | Online |
|---|---|
| Available markets | 65 currency pairs, commodities, cryptocurrencies, index CFDs, stock CFDs |
| Minimum Spreads for Major Currencies | From 0.0-0.1 pips |
| Leverage | 1:1 - 500:1 |
| Commission | AU$3.50 per 100k traded |
| Minimum opening balance | 200 |
| Minimum Trade Size | 0.01 lots |
| Platforms | MetaTrader 4 MetaTrader 5 cTrader |
| Support | Phone, email, live chat |
Quick verdict
Good for
- Fast trade execution and very low spreads
- Trades not being matched with market makers
- Both forex and CFDs
Not so great for
- Fewer trading instruments available than some other brokers
What is IC Markets?
IC Markets is an Australian broker regulated by ASIC offering forex and CFD trading services to clients. IC Markets launched in Sydney in 2007. The broker has more than 60,000 active clients globally and processes more than US$30 billion worth of forex trades daily.
What are the key features of IC Markets forex and CFD trading?
Raw Spread account (prev. True ECN Forex Broker account)
IC Markets is one of the largest forex brokers in the world, offering trading solutions for both active day traders and traders that are new to the forex market. IC Markets offers traders institutional-grade pricing, previously only available to investment banks and high net worth individuals. IC Markets’s clients can trade with no dealing desk, price manipulation or requotes.
Trade both forex and CFDs
Trade more than 65 currency pairs as well as CFDs from one trading account, including more than 100 large-cap stock CFDs.
Fast execution, low spreads and high leverage
IC Markets boasts super-fast trade execution, with an on average trade execution of under 40 milliseconds. It also offers tight forex spreads starting from as low as 0.0 pips, with an average spread on EUR to USD trades of 0.1 pips, and offers leverage of up to 1:500.
More than 230 tradable instruments
You can trade forex, commodities, stocks, indices, bonds and more from one account. You can see a more detailed list for the trading products available in the next section of this review.
Client funds held in separate accounts
All IC Markets client funds are held in separately managed bank accounts in Australia with Westpac and National Australia Bank (NAB), two of the Big Four banks in Australia. Client funds aren't used by IC Markets for day-to-day admin and operation expenses.
What markets can I trade with an IC Markets account?
- Forex. Trade 65 currency pairs.
- Indices. Trade 16 global indices CFDs.
- Commodities. Trade over 19 commodities including energy, agriculture and metals.
- Stocks. Access more than 100 global stock CFDs from major exchanges, including the ASX, NYSE and NASDAQ.
- Bonds. Choose from over 6 government bonds.
- Cryptocurrency. Trade crypto CFDS across 10 popular cryptocurrencies.
- Futures. Online futures CFDs include the ICE Dollar Index and the CBOE VIX Index.
What trading platforms can I use with an IC Markets account?
MetaTrader 4 (MT4) and MetaTrader 5 (MT5)
MT4 is the world's most popular forex trading platform, offering fast execution and easy-to-use, customisable tools and a number of special features. MT5 is a multi-asset platform with more advanced charting and order tools suitable to advanced and institutional traders.
There are no trading restrictions for these platforms, making them attractive for active traders seeking more control and flexibility. For example, traders can place stop-loss orders as close to the live market price as they want to. You can access MT4 and MT5 on your iPhone, iPad, Android device, Mac or PC. If you want to use your PC, you must have Windows 7 or higher to use these platforms.
cTrader
IC Market's cTrader platform offers a sophisticated interface with customisable tools and charting. You can access live streaming prices from several global banks and enjoy extra liquidity along with fast execution. The cTrader platform is available on iPhone, iPad and Android devices as well as on Mac and PC.
What account types are available?
There are three account types available, depending on what type of trader you are and your platform preference:
| cTrader Raw | Raw Spread | Standard | |
|---|---|---|---|
| Platform | cTrader | MT4 and MT5 | MT4 and MT5 |
| Minimum deposit | $200 | $200 | $200 |
| Commission per lot | $3 | $3.50 | $0 |
| Spreads from | 0.0 pips | 0.0 pips | 1.0 pips |
| Suited to | Day traders, scalpers | Day traders, scalpers, expert advisors | Discretionary traders (new traders, retail traders) |
What customer support options does IC Markets offer?
IC Markets offers live chat, phone and email support, and clients can also access support via Facebook and WhatsApp. There's a large variety of free learning resources on the website.
Account funding options
You can fund your account with AUD by debit card, credit card, POLI or PayPal instantly without paying any fees. You can also fund your account via BPAY without any fees; however, processing time will take between 12 to 48 hours.
How to open an IC Markets account
It's free to open a trading account with IC Markets by starting an online application form on its website. You'll need to provide the following details in your application:
- Your full name and residential address
- Your email address and phone number
- A bit of information about your trading experience and what you're planning to trade
When IC Markets has verified your identity, you can fund your account and start trading.
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