What Does 100 Pips Mean? ✔️8 REVEALING TRICKS

Learn why IC Markets is a popular trading platform in 2023. Acquire an in-depth view at its features, pros & cons, and a contrast with the top 10 competitors.

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ICM is a preeminent trading platform that provides excellent offerings to both retail and institutional customers ever since 2007. This particular review will explore the platform’s attributes, its pros and cons, and the way it stacks up to its top 10 rivals. Additionally, we will also address the very common questions about ICM, supplying a complete manual to help you create an informed decision about your trading platform of choice.

IC Markets Overview

Founded in 2007, headquartered in Sydney, Australia Controlled by ASIC, CySEC, and FSA Provides a vast array of trading instruments, consisting of Foreign exchange, CFDs, commodities, indices, and cryptocurrencies.

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Why Opt for ICM?

  • Low spreads and low fees
  • Different trading platforms offered
  • Superb customer support
  • Fast order execution
  • Premium trading tools and resources

ICM Trading Platforms

MetaTrader 4 (MT4)

  • Industry-standard platform
  • Easy-to-use interface
  • Wide variety of technical analysis tools
  • Automated trading with Expert Advisors (EAs)
  • Smartphone trading offered on iOS and Android

MetaTrader 5 (MT5){Advanced} variant of MT4

  • Further technical indicators and timeframes
  • Economic calendar embedded
  • Market depth function
  • Hedging allowed

cTrader

  • Created for CFD and Forex trading
  • Sleek and user-friendly interface
  • Enhanced charting tools
  • Personalized workspace

Trading Instruments

  • Foreign exchange: More than sixty currency pairs
  • Indices: twenty-three significant global indices
  • Commodities: Valuable metals, energy, and agricultural items
  • Crypto assets: Bitcoin, Ethereum, LTC, and extra
  • Fixed income: Government bonds from key countries
  • Futures contracts: Accessibility to global futures exchanges

Account Types

  • Regular Account
  • Tight Spread Account
  • Interest-free Account

IC Markets deposit methods

To get the most up-to-date and precise details, it is always recommended to visit the website of IC Markets or contact their customer service staff.

As of my previous knowledge, IC Markets offered the following deposit options to fund your trading profile:

Wire Transfer

You can transfer funds straight from bank account to your IC Markets account. This technique may require a several working days to process.

Credit and Debit Cards

IC Markets accepts key credit and debit cards, such as Visa and Mastercard card, to make deposits. These transactions are handled immediately.

Electronic Payment Systems

IC Markets accepts several well-known electronic wallets and online payment systems, such as but not limited to:

  • PayPal
  • Neteller platform
  • Skrill
  • FasaPay
  • UnionPay systemWebMoney

Domestic Bank Transfers

In certain countries, IC Markets offers the option of domestic bank-to-bank transfers, where you can transfer funds straight from your domestic bank account to your trading profile without incurring.

Broker-to-Broker Transfer

If you are switching between an alternative firm to IC Markets, you may be able to transfer your funds straight between the two firms.

Keep in mind that the availability of these funding methods might differ based on your country, and there additional methods or changes in the deposit methods.

It is crucial to check the website of IC Markets or get in touch with their customer service for the most recent and accurate data on available funding methods.

Furthermore, when depositing funds to your IC Markets account, kindly be aware of the following:

Deposit fees

Certain deposit methods might incur charges

Ensure to examine if IC Markets or the payment provider charges fees for the particular funding option you pick.

Deposit processing time

Although numerous deposit methods might be instant or almost instant, some methods like bank wire transfers might take a few working days to finalize.

Currency

IC Markets usually offers trading accounts in various currencies, such as USD, EUR, AUD,British pounds, as well as more. Make sure to select the right currency to reduce exchange fees when adding money.

Account verification

To comply with regulations, IC Markets may ask you to give personal identification documents and address verification prior to you can deposit funds and start trading. Verify that your account is fully approved to avoid any potential delays in adding or taking out funds.

Remember to visit the website of IC Markets or get in touch with their customer service to obtain the latest and accurate information regarding funding methods, fees, and processing times.

Benefits and Drawbacks of IC Markets

Benefits

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

Disadvantages

  • No fixed accounts
  • Insufficient educational resources targeted at beginners
  • Idle fee after twelve months of dormancy

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IC Markets vs. Top 10 Rivals

IC Markets vs. e-Toro

ICM and eToro are both popular trading platforms, each with their own collection of advantages and disadvantages. IC Markets is famed for its low spreads and fast trade execution, making it optimal for seasoned traders and scalping traders. Furthermore, its support for a wider range of financial instruments and complex trading tools appeals to {experienced|seasoned investors. On the other hand, eToro’s easy-to-use platform and social trading capabilities cater to beginners and occasional traders. Its copy trading functionality allows users to mirror the strategies of prosperous traders. Nevertheless, eToro’s higher fees and restricted customization options may discourage more seasoned traders from the platform.

ICM vs. Plus-500

ICM and Plus-500 are both trustworthy trading platforms, each offering distinct advantages and cons to traders. IC Markets is liked for its low spreads, fast trade execution, and sophisticated trading tools, making it a popular choice among seasoned traders and scalpers. Plus500, on the other hand, is noted for its user-friendly and user-friendly platform, making it appropriate for beginners. Plus-500 also offers a broader range of trading instruments, including CFDs on indices, shares, and ETFs. However, its increased spreads and limited platform customization options may be less enticing to pro traders compared to ICM’s more advanced offerings.

ICM vs. XM

IC Markets and XM are both well-regarded online trading platforms, each with unique pros and cons. ICM is valued for its tight spreads, fast execution, and complex trading tools, catering to experienced traders and scalpers. Comparatively, XM is known for its varied account types,accommodating traders with varying experience levels and investment sizes. XM also provides superb customer support and a wide range of learning materials for novice traders. However, IC Markets outshines XM in terms of trading instruments variety and platform customization. While both platforms have their advantages, traders must weigh their personal needs and objectives when deciding between them.

ICM vs. Forex.com

IC Markets and Forex.com are both prominent trading platforms, each with particular strengths and weaknesses. ICM is valued for its low spreads, rapid trade execution, and advanced trading tools, making it an enticing option for pro traders and scalpers. On the other hand, Forex.com offers a extensive range of trading instruments, including foreign exchange, indexes, commodity markets, and cryptocurrencies, appealing to a broader audience. Forex.com also offers comprehensive learning materials for beginners. Nevertheless, its platform may not be as intuitive as ICM’s, and it tends to have higher fees. In the end, traders should weigh their individual requirements and preferences when selecting between these two platforms.

IC Markets vs. IG

ICM and IG are both established trading platforms, each providing different pros and disadvantages. IC Markets is known for its attractive spreads, quick trade execution, and advanced trading tools, making it a favored choice for professional traders and scalpers. Conversely, IG features a more extensive range of tradable instruments, including shares, foreign exchange,commodities, and cryptocurrencies, catering to wide-ranging investor preferences. IG also offers an broad suite of learning materials and a user-friendly platform ideal for newcomers. However, IG’s elevated fees may dissuade cost-conscious traders. When choosing between the two platforms, traders should consider their individual preferences and trading goals.

ICM vs. Pepperstone

ICM and Pepperstone are both trustworthy trading platforms, each with its own range of benefits and disadvantages. IC Markets is known for its low spreads, quick trade execution, and sophisticated trading tools, making it an optimal option for seasoned traders and scalping traders. On the other hand, Pepperstone is celebrated for its outstanding customer support and easy-to-use platform, appealing to traders of all skill levels. Moreover, Pepperstone offers a range of account types, catering to different trading styles and investment amounts. However, IC Markets provides a more extensive range of trading instruments. Traders should consider their specific demands and preferences when selecting between these two platforms.

ICM vs. Saxo Bank

ICM and Saxo Bank are both prominent trading platforms, each with distinct benefits and cons. ICM is renowned for its low spreads, speedy trade execution, and sophisticated trading tools, making it a preferred choice among experienced traders and scalping traders. In comparison, Saxo Bank offers a comprehensive range of trading instruments, including foreign exchange, shares, bonds, exchange-traded funds, and additional instruments, catering to investors with wide-ranging interests. Furthermore, Saxo Bank provides a complex platform with sophisticated research tools and a solid focus on safety. Nonetheless, Saxo Bank’s elevated fees and required minimum deposits may dissuade budget-minded traders, who might favor IC Markets’ simpler offerings.

IC Markets vs. FXCM

ICM and FXCM are both reputable online trading services, each offering distinct benefits and cons to traders. IC Markets is recognized for its low spreads, rapid trade execution, and sophisticated trading tools, making it a popular choice among pro traders and scalping traders. In contrast, FXCM offers a easy-to-use platform and a vast range of learning materials, making it better suited for beginner traders. Furthermore, FXCM offers a selection of trading instruments, including foreign exchange, indexes, and commodities. Nonetheless, its increased fees and spreads may be less enticing to cost-conscious traders relative to ICM’s better pricing model. Traders should weigh their individual needs and interests when selecting between these two platforms.

ICM vs. OANDA

IC Markets and OANDA are both respected online trading platforms, each with its own array of advantages and cons. IC Markets is praised for its reduced spreads, quick trade execution, and advanced trading tools, making it an alluring option for professional traders and scalping traders. In contrast, OANDA offers a intuitive platform and a wide range of educational materials, appealing to traders at all skill levels. Additionally, OANDA provides flexible trade sizes and strong regulatory oversight. However, its spreads and fees may be not as favorable compared to ICM. When choosing between these two platforms, traders should weigh their personal preferences and trading goals.

ICM vs. AvaTrade

ICM and AvaTrade are both leading trading platforms, each presenting distinct advantages and disadvantages. IC Markets is renowned for its low spreads, quick trade execution, and sophisticated trading tools, making it an ideal choice for professional traders and scalpers. In contrast, AvaTrade offers a user-friendly platform, a vast range of educational materials, and a varied selection of trading instruments, appealing to traders of various experience levels. Nonetheless, AvaTrade’s fees and spreads may be not as attractive than the ones provided by ICM. When deciding between the two platforms, traders should evaluate their specific requirements and preferences to reach the most suitable choice.

 

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Commonly Asked Questions (FAQs)

Is IC Markets a regulated broker?
Yes, ICMarkets is supervised by the ASIC, the Cyprus Securities and Exchange Commission, and the FSA in {Seychelles}.

How can I set up an trading account with ICMarkets?
To set up an trading account with IC Markets, go to their website and press on “Create an Account.” Fill in the needed data, submit your identification documents, and complete the confirmation process.

What is the lowest deposit for IC Markets?
The lowest deposit for ICMarkets is $200 or its equivalent in your base money.

Can I use ICMarkets in the USA?
IC Markets does not accept customers from the USA because of legal limitations.

What platforms does ICMarkets offer?
ICMarkets provides MetaTrader 4, MetaTrader 5, and {cTrader} trading platforms.

What financial instruments can I trade on ICMarkets?
You may invest in Forex, contracts for difference, {commodities}, {indices}, cryptocurrencies, {bonds}, and {futures} on ICMarkets.

Do IC Markets provide a demo account?
Indeed, IC Markets provides a no-cost practice account that allows you to try trading with imaginary money and use all capabilities of the platform.

What types of trading accounts can ICMarkets provide?
ICMarkets provides 3 kinds of accounts: Standard, Raw Spread Account, and Islamic.

In what way can IC Markets make money?
ICMarkets makes money by bid-ask spreads, commissions on specific account types, and fees for extra features such as VPS hosting or external resources.

How am I able to reach ICMarkets’ customer service?
You can get in touch with ICMarkets’ customer service by chat, {email}, or telephone. Their customer support team is accessible 24/7.

Conclusion

ICMarkets is a trustworthy as well as strictly regulated platform that provides a broad selection of instruments, favorable {spreads}, and a selection of advanced platforms.

The trading platform is specifically suitable for seasoned investors, but newcomers may discover its educational resources scarce. Overall, IC Markets is a reliable option for investors searching for a reliable and feature-rich platform.

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