IC Markets Review 2023 – A Comprehensive Guide to the Leading Trading Platform

Discover why IC Markets is a popular trading platform in 2023. Get an in-depth look at its features, pros & cons, and a comparison with the top 10 competitors.

ic markets broker 2

Introduction

IC Markets is a leading trading platform that has been providing exceptional services to both retail and institutional clients since 2007. This review will explore the platform’s features, its pros and cons, and how it compares to its top 10 competitors. We will also address the most frequently asked questions about IC Markets, providing a complete guide to help you make an informed decision about your trading platform of choice.

IC Markets Overview

  • Founded in 2007, headquartered in Sydney, Australia
  • Regulated by ASIC, CySEC, and FSA
  • Offers a wide range of trading instruments, including Forex, CFDs, commodities, indices, and cryptocurrencies
  • Register an account >

Why Choose IC Markets?

  • Competitive spreads and low fees
  • Multiple trading platforms available
  • Excellent customer support
  • High-speed order execution
  • Superior trading tools and resources

IC Markets Trading Platforms

 MetaTrader 4 (MT4)

  • Industry-standard platform
  • User-friendly interface
  • Wide range of technical analysis tools
  • Automated trading with Expert Advisors (EAs)
  • Mobile trading available on iOS and Android

 MetaTrader 5 (MT5)

  • Advanced version of MT4
  • More technical indicators and timeframes
  • Economic calendar integrated
  • Depth of market (DOM) feature
  • Hedging allowed

 cTrader

  • Designed for CFD and Forex trading
  • Modern and intuitive interface
  • Advanced charting tools
  • Level II pricing
  • Customizable workspace

Trading Instruments

ic markets broker 4

  • Forex: Over 60 currency pairs
  • Indices: 23 major global indices
  • Commodities: Precious metals, energy, and agricultural products
  • Cryptocurrencies: Bitcoin, Ethereum, Litecoin, and more
  • Bonds: Government bonds from major countries
  • Futures: Access to global futures exchanges

Account Types

  • Standard Account
  • Raw Spread Account
  • Islamic (Swap-free) Account

 Pros and Cons of IC Markets

Pros

  • Wide range of trading instruments
  • Competitive spreads and low fees
  • Choice of trading platforms
  • Fast and reliable execution
  • Excellent customer support

Cons

  • No fixed spread accounts
  • Limited educational resources for beginners
  • Inactivity fee after 12 months of inactivity

ic markets broker 3

Visit ICMarkets >

IC Markets vs. Top 10 Competitors

IC Markets vs. eToro

IC Markets and eToro are both popular online trading platforms, each with its own set of advantages and drawbacks. IC Markets is renowned for its low spreads and fast execution, making it ideal for professional traders and scalpers. Additionally, its support for a wider range of trading instruments and advanced trading tools appeals to experienced investors. In contrast, eToro’s user-friendly platform and social trading features cater to beginners and casual traders. Its copy-trading functionality enables users to emulate the strategies of successful traders. However, eToro’s higher fees and limited customization options may deter more seasoned traders from the platform.

IC Markets vs. Plus500

IC Markets and Plus500 are both reputable online trading platforms, each offering unique benefits and drawbacks to traders. IC Markets is favored for its low spreads, high-speed trade execution, and advanced trading tools, making it a popular choice among experienced traders and scalpers. Plus500, on the other hand, is known for its intuitive and user-friendly platform, making it suitable for beginners. Plus500 also offers a wider range of trading instruments, including CFDs on indices, shares, and ETFs. However, its higher spreads and limited platform customization options may be less appealing to professional traders compared to IC Markets’ more advanced offerings.

IC Markets vs. XM

IC Markets and XM are both well-regarded online trading platforms, each with distinct pros and cons. IC Markets is appreciated for its tight spreads, rapid execution, and sophisticated trading tools, catering to professional traders and scalpers. In comparison, XM is known for its diverse account types, accommodating traders with varying experience levels and investment sizes. XM also boasts excellent customer support and a wide range of educational resources for novice traders. However, IC Markets outshines XM in terms of trading instruments variety and platform customization. While both platforms have their merits, traders must weigh their individual preferences and goals when choosing between them.

IC Markets vs. Forex.com

IC Markets and Forex.com are both prominent online trading platforms, each with specific strengths and weaknesses. IC Markets is esteemed for its low spreads, fast trade execution, and advanced trading tools, making it an attractive option for professional traders and scalpers. Conversely, Forex.com offers a comprehensive range of trading instruments, including forex, indices, commodities, and cryptocurrencies, catering to a broader audience. Forex.com also provides extensive educational resources for beginners. However, its platform may not be as user-friendly as IC Markets, and it tends to have higher fees. Ultimately, traders should consider their individual needs and preferences when choosing between these two platforms.

IC Markets vs. IG

IC Markets and IG are both well-established online trading platforms, each presenting unique advantages and disadvantages. IC Markets is known for its competitive spreads, fast trade execution, and advanced trading tools, making it a preferred choice for professional traders and scalpers. In contrast, IG boasts a wider range of tradable instruments, including shares, forex, commodities, and cryptocurrencies, catering to diverse investor interests. IG also offers an extensive suite of educational resources and a user-friendly platform suitable for beginners. However, IG’s higher fees may deter cost-conscious traders. When deciding between the two platforms, traders should weigh their individual preferences and trading objectives.

IC Markets vs. Pepperstone

IC Markets and Pepperstone are both reputable online trading platforms, each with its own set of pros and cons. IC Markets is recognized for its low spreads, rapid trade execution, and advanced trading tools, making it an ideal option for professional traders and scalpers. On the other hand, Pepperstone is celebrated for its excellent customer support and user-friendly platform, catering to traders of all experience levels. Additionally, Pepperstone offers a variety of account types, suiting different trading styles and investment sizes. However, IC Markets provides a more extensive range of trading instruments. Traders should consider their specific needs and preferences when choosing between these two platforms.

IC Markets vs. Saxo Bank

IC Markets and Saxo Bank are both notable online trading platforms, each with distinct advantages and disadvantages. IC Markets is known for its low spreads, fast trade execution, and advanced trading tools, making it a popular choice among professional traders and scalpers. In comparison, Saxo Bank offers a comprehensive range of trading instruments, including forex, stocks, bonds, ETFs, and more, catering to investors with diverse interests. Additionally, Saxo Bank provides a sophisticated platform with advanced research tools and a strong focus on security. However, Saxo Bank’s higher fees and minimum deposit requirements may deter cost-conscious traders, who might prefer IC Markets’ more accessible offerings.

IC Markets vs. FXCM

IC Markets and FXCM are both reputable online trading platforms, each offering unique pros and cons to traders. IC Markets is known for its low spreads, quick trade execution, and advanced trading tools, making it a favored choice among professional traders and scalpers. Conversely, FXCM boasts a user-friendly platform and a wide range of educational resources, making it more suitable for novice traders. Additionally, FXCM offers a variety of trading instruments, including forex, indices, and commodities. However, its higher fees and spreads may be less appealing to cost-conscious traders compared to IC Markets’ more competitive pricing structure. Traders should consider their individual needs and preferences when choosing between these two platforms.

IC Markets vs. OANDA

IC Markets and Oanda are both respected online trading platforms, each with its own set of pros and cons. IC Markets is celebrated for its low spreads, fast trade execution, and advanced trading tools, making it an attractive option for professional traders and scalpers. In contrast, Oanda offers a user-friendly platform and a wide range of educational resources, catering to traders at all experience levels. Additionally, Oanda provides more flexible trade sizes and strong regulatory oversight. However, its spreads and fees may be less competitive compared to IC Markets. When choosing between these two platforms, traders should weigh their individual preferences and trading goals.

IC Markets vs. AvaTrade

IC Markets and AvaTrade are both prominent online trading platforms, each presenting unique pros and cons. IC Markets is renowned for its low spreads, quick trade execution, and advanced trading tools, making it an ideal choice for professional traders and scalpers. On the other hand, AvaTrade offers a user-friendly platform, a wide range of educational resources, and a diverse selection of trading instruments, catering to traders of varying experience levels. However, AvaTrade’s fees and spreads may be less competitive than those offered by IC Markets. When deciding between the two platforms, traders should consider their specific needs and preferences to make the best choice.

ic markets broker 1

Register an account >

Frequently Asked Questions (FAQs)

  1. Is IC Markets a regulated broker?
    Yes, IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority (FSA) in Seychelles.
  2. How do I open an account with IC Markets?
    To open an account with IC Markets, visit their website and click on “Open an Account.” Fill in the required information, submit your identification documents, and complete the verification process
  3. What is the minimum deposit for IC Markets?
    The minimum deposit for IC Markets is $200 or its equivalent in your base currency.
  4. Can I use IC Markets in the United States?
    IC Markets does not accept clients from the United States due to regulatory restrictions.
  5. What trading platforms does IC Markets offer?
    IC Markets offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader trading platforms.
  6. What instruments can I trade on IC Markets?
    You can trade Forex, CFDs, commodities, indices, cryptocurrencies, bonds, and futures on IC Markets.
  7. Does IC Markets offer a demo account?
    Yes, IC Markets offers a free demo account that allows you to practice trading with virtual funds and access all features of the platform.
  8. What types of accounts does IC Markets offer?
    IC Markets offers three types of accounts: Standard Account, Raw Spread Account, and Islamic (Swap-free) Account.
  9. How does IC Markets make money?
    IC Markets makes money through spreads, commissions on certain account types, and fees for additional services such as VPS hosting or third-party tools.
  10. How can I contact IC Markets’ customer support?
    You can contact IC Markets’ customer support via live chat, email, or phone. Their support team is available 24/7.

Conclusion

IC Markets is a reputable and well-regulated trading platform that offers a wide range of instruments, competitive spreads, and a choice of advanced trading platforms. The platform is particularly suitable for experienced traders, but beginners may find its educational resources limited. Overall, IC Markets is a solid choice for traders looking for a reliable and feature-rich trading platform.

Register an account >