In the world today, there are hundreds of forex trading floors (forex), opened in many different countries. Investors can open an account and make transactions at any broker in any country. However, to ensure the safety of their transactions and assets, investors need to find the most reputable exchanges. IC Markets is the name we want to introduce to you. Let’s learn about this exchange right away in our article below!
What is IC Markets?
IC Markets is a forex trading broker. Founded in 2007 in australia, icmarkets has grown into a major player in the online forex trading industry. Up to the present time, ICMarket has 14 years of experience operating in the international forex trading market. In 2009, ICMarket was granted a Financial Services License by the Australian Securities and Investments Commission (ASIC). ICMarket’s average monthly trading volume is over 600 billion USD. It is expected that in the future, the trading volume at icmarkets will increase even more.( IC markets review)
Main information of icmarkets
- Official website www.icmarkets.com
- Established 2007
- Australia Headquarters
- Licenses CYSEC, FSA, ASIC
- Maximum leverage 1:500
- Minimum first deposit 200$
- Trading Platform MT4, MT5, Ctrader, Web
- Deposit/Withdrawal Methods Bank account, online banking, Paypal, netteller, skrill, bitcoin…
- Demo account Yes
- Products offer Forex, Metals, ,commodities, stocks, indices, cryptocurrencies
General assessment of ICMarkets
ICMarkets is one of the forex trading platforms that receive the trust of Vietnamese traders. This is a famous forex broker from Australia and was established in 2007. In Australia, along with Pepperstone, IC Markets is the largest broker in this country.(Read more : what is forex)
Speaking of which, many people are probably comparing the quality between the two IC markets and Pepperstone. However, statistics show that ICMarkets has 4 times more traffic than Pepperstone. This number is also enough to show the strong appeal of this name.
After 13 years of establishment and development, ICMarkets has also achieved great success. The following numbers can give you more confidence in this exchange:
- In 2018, on average, each month, the exchange achieved a trading volume of more than 400 billion USD. This is a huge number that any exchange wants to have.
- In March 2019, IC Markets set a record with a trading volume of up to 646 billion USD.
- The advantages that make traders appreciate this broker are: relatively low ICMarkets spreads, low spread costs and high quality services.
Is ICmarkets reputable?
IC Markets is a reputable and experienced broker in the forex investment industry. Operated and managed by the world’s leading reputable financial regulators:
- The Australian Securities and Investments Commission (ASIC).
- The Australian Financial Complaints Authority (AFCA).
The Australian Financial Services License (AFSL) allows the conduct of financial services in Australia. - Segregated Account with Aus Bank – Westpac and NAB.
- Sign a professional indemnity insurance contract with Lloy of London
- Independently audited every year.
Account types offered by ICMarkets
Like many other exchanges, ICmarkets offers many different account types, suitable for different types of users. In which, there are 3 main account types: True ECN account (cTrader), Raw Spread account, Standard account.(Read more : broker tickmill)
True ECN Account (cTrader)
This type of account is very suitable for traders who enjoy scalping. Because the spread and commission are considered to be quite low. The basic information about this account type is as follows:
- Minimum deposit amount: 200$
- The maximum leverage can be up to 1:500.
- Spread type: floating; Spread from Spread (pip): 0 pip
- Stop out level: 50%.
- Commission: 6$/lot
- Minimum trading volume: 0.01 lot.
- Raw Spread account
Compared to the cTrader account, the Raw Spread account is much more popular. A lot of traders have highly rated this account type. There are almost no cases of requotes when trading with this account. The IC Markets Raw Spread account is suitable for day traders, scalpers and swing traders. More information about this account type that you need to know is as follows:
- Minimum deposit amount: 200$
- The maximum leverage can be up to 1:500.
- Spread type: floating; Spread from Spread (pip): 0 pip
- Minimum order volume: 0.01 lot.
- Stop out level: 50%.
- Commission: 7$/lot
Standard account
The Standard account on IC markets is best suited for scalpers. Because with this account, the spread is higher than the other accounts. The basic parameters of this account include:
– Minimum deposit amount is 200$ with maximum leverage 1:500.
– Floating Spread type with spreads from 1 pip.
– Commission: no
– Minimum trading volume is 0.01 lot.
– Stop out level (stop trading level): 50%.
Leverage, commission and spread at icmarkets
Of the 3 account types offered by IC Markets, only the Standard account has a Spread fee. The remaining 2 accounts will have a commission fee and a little spread fee attached. The commission rates are also quite competitive, only $6/lot for cTrader accounts and $7/lot for True ECN accounts.(Read more : forex investment legal)
The spread for all 3 account types is quite attractive. Spreads from 0.0 pips and average around 0.5pip per currency pair.
All 3 of these account types apply a maximum leverage of 1:500.
Ic markets trading platform
ICMarkets currently supports users on all 3 trading platforms including Meta Trader 4 (MT4), Meta Trader 5 (MT5) and cTrader. In particular, the MT4 platform is the most appreciated by investors and also the most commonly used today. These platforms are now compatible with most operating systems such as windows, mac and mobile operating systems such as Android, iOS, etc.
These trading platforms contain all the basic and most important technical tools a Trader needs. For example, technical analysis indicators, advanced charting packages with candlesticks, lines, and columns, etc. These tools will support traders to the maximum when making trades as well as offering solutions. the most accurate decision.
Icmarkets trading assets
ICmarkets is an exchange where you can invest in a wide variety of assets. The main assets that are noticed by investors/traders include:
- Forex (Forex): IC Markets offers more than 60 of the most popular currency pairs. The maximum leverage is up to 1:500 and the spread is only from 0.0pip.
17 worldwide tradable indices powered by ICMarkets. The spread is only from 0.5 point and the leverage can be up to 1:200, no commission. - More than 120 stocks from the world’s leading companies.
- Bonds are issued by the world’s leading developed countries such as Japan, the United States, the United Kingdom and many other European countries. Maximum leverage can be up to 1:200.
- More than 10 cryptocurrencies can be traded on IC Markets. These are all hot currencies right now: Bitcoin, Ethereum, Litecoin, …
- Futures contracts include ICE Dollar Index, CBOE VIX Index, etc.
Bonus promotion program at ICMarkets
If other forex brokers often have no deposit forex bonuses or bonuses when depositing new customers, and customers maintain regular account balances, etc., then ICMarkets does not have such bonuses. such promotions. This can also be considered a minus point of this floor. However, instead of promotions, ICMarkets always focuses on giving its customers the best products and services. Therefore, the rating of ICMarkets floor from customers is still very high.(Read more :depositing and withdrawing money)
Deposit/withdrawal options at IC Markets
IC Markets supports depositing via the following methods:
Top up via visa card or masterd card, bank account, online banking in Vietnam, paypal, neteller, skrill…
Deposits are processed very quickly, seemingly instantaneous.
To withdraw money from icmarkets, you must withdraw to the correct port that you use to deposit.
Note: Withdrawals from ic markets before 8am will be processed within the day, after 8am will be processed the next day.
Review icmarkets customer service
The customer care service at ICMarkets is also highly appreciated by the Trader community. As an international forex trading platform, customer service is also supported in multiple languages. This exchange also has its own ICMarkets Vietnam team. If you have any questions, please contact our support team for the most enthusiastic support!
Evaluate the pros and cons of ICMarkets
To help you have the best overview of the ICMarkets forex trading platform, TRADERMINI would like to evaluate icmarkets with the following main advantages and disadvantages:
ICMarkets is managed by the world’s leading reputable financial institutions, transactions are done quickly and easily, with no additional withdrawal/deposit fees.
Besides, the floor also has attractive spreads, competitive commission fees. The customer care service is also very appreciated.
However, one of the biggest downsides of the exchange is the lack of promotions. Some withdrawals are also sometimes processed a bit slow.
Most objectively, we still recommend trading at ICMarkets. Although there are still disadvantages, the outstanding values and advantages that the floor brings cannot be denied.
Frequently asked questions about ICMarkets
Is IC Markets safe?
IC Markets is a trusted forex broker because it is licensed and regulated by ASIC and CySEC. This is a forex broker that is highly appreciated by the Vietnamese trader community for its credibility.
What is the minimum deposit IC Markets?
Minimum first deposit applied to all account types at IC Markets is 200$. If you have a limited amount of capital, you can deposit enough $200 to qualify at icmarkets and then withdraw, just leaving a little is fine.
Should I choose RAW or Standard account?
Raw accounts will be charged a commission on each of your trades. At IC Markets it is $ 3.5/lot traded. Plus a little spread, almost zero when the market fluctuates slightly.
Standard spread accounts do not charge commission when trading but will be charged a higher spread fee.
If you are a surfer, the Raw account will be right for you.
Is there a deposit fee to IC Markets?
Ic Markets does not charge any deposit or withdrawal fees. However, you will have to pay a foreign currency conversion fee of about 2-3% and an international transaction processing fee borne by each bank.
Does IC Markets allow cryptocurrency trading?
Ic markets allows clients to trade the most popular cryptocurrencies as CFDs.
Does ic markets have a copy trade?
Yes, clients at icmarkets can participate in copy trading on the ctrader platform
Is it possible to top up with someone else’s bank account?
IC Markets does not accept payments from third parties, so you need to make sure that all deposits and withdrawals for your trading account match the name on your icmarkets account.
Which countries are not accepted at ICMarkets?
Syria, South Korea, Iraq, Togo, Cambodia, lesotho, yemen, liberia, zimbabwe, cuba, libya, DR Congo.
Trading experience at ICMarkets
After a long time participating in trading at ICMarkets, here are some experiences that TRADER MINI has drawn from practical experience at ICMarkets:
Cryptocurrency trading at IC Markets closes on Friday night. Unlike exness exchange, so you should close your order before the close of the weekend to avoid the risk when the market fluctuates strongly at the weekend without being able to handle it. physical.
When opening an account at ICMarkets, you should choose a leverage of 1:500 to minimize the deposit.
Withdrawal orders should be placed before 8am on weekdays to receive money during the day.
It is recommended to Deposit & Withdraw via bank account for free withdrawal and faster processing time.
If you are a scalping trader it is best to choose the Raw Spread account.
You cannot create more accounts when there are 2 accounts with balance less than 1$.
If you have any experience when trading at ICMarkets that you want to share, please comment to share with everyone!
