IC Markets Review 2022: Best Trading Platform

Introduction

IC Markets is the top online trading company in Australia that serves clients with the best available day trading and other trade-related services to new traders or investors. Traders can enjoy a number of benefits with the IC Market firm. They have connectivity, cutting edge technology and high liquidity to serve traders. The IC Markets has brought a change into online trade with its effective trade techniques. 

The broker has given traders access to the details of the market and trade that earlier were limited to banks and professionals of the trade. Thus, bringing a revolution into the trading world. 

An article, IC Markets Review, discusses the features and functions of the IC Markets to bring its benefits to world use. 

IC Markets Review: Pros and Cons

The market is bringing a change into the world of trade and therefore shares both pros and cons. Here are the pros and cons of IC Markets: 

Pros

  • Regulated 
  • Low forex charges 
  • Easy and quick account opening 
  • No deposit and withdrawal charges 

Cons

  • Slow live chat 
  • Limited range of products 
  • No investor protection 

IC Markets: Regulation and Scam

IC Markets is regulated by various regulatory bodies that protect investors from uneven practices of the market. The broker is an FCA regulated with internal risk management controls. The company also has regular audits from the authorities to check up on the services and trade. 

FCA is the financial services regulator based in Seychelles that regulates the transparent and fair trade practices in Seychelles. The body of authorisation is an autonomous regulatory body for non-bank financial services that was established in 2013 under the Financial Services Authority Act. 

It protects traders against: 

  • Segregation of funds 
  • Anti-money laundering 

IC Markets is licensed under Raw trading ltd. Company with a security dealers license number SD018. 

The broker is not a scam and a legit financial broker with the authority to serve traders.

IC Markets Review: Trading Account Types

IC Markets offers traders three account types that aid traders in their financial investments. The broker has a Raw Spread account, Raw Spread account (popular) and Standard account. Traders can choose from the three options as per their trade requirements. 

Discussed below are the account types with their features and functions to serve clients. 

Raw Spread Account

The account is for the traders who have no trade experience and want to try their luck in the business. The trading account serves traders with the following features: 

  • cTrader trading platform 
  • $3 trade commission 
  • 0.0 pips spread 
  • Minimum deposit of $200
  • Maximum leverage of 1:500
  • Maximum position orders 2000 per account 
  • London based server location 
  • Micro lot trading 
  • 64 Currency pairs 
  • Index CFD trading 
  • 50% Stop-out level 
  • One click trading 
  • Islamic account option 
  • Trading styles 
  • C# programming language
  • Suitable for day traders and scalpers 

Raw Spread Account (popular)

The account is a bit advanced and uses the best trading platform to serve clients. As the name suggests, it is a popular trading account of IC Markets with the best services. So, here we have listed the features and functions of the account: 

  • MetaTrader4 trading platform 
  • $3.5 commission per lot 
  • 0.0 pips spread 
  • Minimum deposit of $200
  • Maximum leverage 1:500
  • Maximum position order of 200 
  • Server location based in New York 
  • Micro lot trading 
  • 64 currency pairs 
  • Index CFD trading 
  • 50% Stop-out level 
  • One click trading 
  • Islamic account 
  • Trading styles 
  • Programming language MQL4
  • Suitable for EAs and Scalpers 

Standard Account

The account type is designed for traders that are professionals and have experience in the trade. Following are the features and functions of the standard account of IC Markets: 

  • Zero commission charge 
  • MetaTrader4 trading platform 
  • 0.6 pips spread 
  • Minimum deposit of $200 
  • Maximum leverage 1:500 
  • Maximum position orders of 200
  • New York based server 
  • Micro trading lot 
  • 64 currency pairs 
  • Index CFD trading 
  • 50% Stop-out level 
  • One click trading 
  • Islamic account 
  • Trading styles 
  • MQL4 programming language 
  • Suitable for discretionary traders

IC Markets: Account Opening

The account opening process of IC Markets is quick; traders can easily make their brokerage account with the broker. With some personal details and information, traders can use the services of the broker. Here are the steps that traders can follow to open an account: 

  • The first and initial step of opening an account is to go to the broker’s official website.
  • Next, traders can register with the broker by filling a form with personal details like name, email address, contact number and a password to protect the trader. 
  • After that, once the trader is registered, they can choose the account they want to open. Three options of account with Raw spread, Raw spread popular and standard account. 
  • Traders can even go for a demo account to practice before going live. 
  • At last, traders can deposit funds in the account and start trading online. 

IC Markets Review: Trading Platforms

IC Markets has a range of trading platforms for clients and the most popular ones. Thus, making it feasible for traders to invest in the markets and earn good profits. Mentioned below are the trading platforms of the IC Markets: 

MetaTrader 4&5

Traders of the market can use the popular trading platforms of the market. MetaTrader4 and 5 are best suited for the trade offering a lot of trading tools and indicators to minimise the risks of the market. A trader can access various features and functions in MetaTrader4 and 5 software. The platform works in all the devices such as MT iPad/iPhone, MT Android, MT mac with the MT Webtrader. 

Here are the features and functions of MetaTrader4&5: 

  • Customisable 
  • Flexible 
  • User-friendly 
  • 30 inbuilt indicator 
  • No trade restrictions 
  • Lightning-fast execution 
  • Raw pricing 
  • Trading tools 
  • Technical analysis 
  • Fundamental analysis 
  • Expert advisors 

cTrader

cTrader is the trading platform that is available for the raw spread account holders. The traders can access the platform to forecast market movements. 

  • Limit orders and stop order 
  • QuickTrade 
  • Depth Market 
  • Favourites 
  • Indicators 
  • Line studies and Chart objects 
  • Templates 
  • Layouts 
  • Custom indicators 
  • Closing positions and cancelling orders 
  • Chart trading 
  • Creating market order
  • User time offset 
  • Account management 
  • Chart modes 
  • Chart options 
  • Advanced protection 
  • Deal Map 
  • Quicktrade 

cTrade also has its various formats for traders’ benefit like cTrade web, cTrade iPhone/iPad, cTrade Android and cTrade cAIgo. 

IC Markets Review: Trading Instruments

IC Markets has the following trading instruments: 

  • Forex 
  • Indices 
  • Commodities 
  • Bonds 
  • Digital Currencies 
  • Stocks 
  • Futures 

IC Markets Review: Commission and Spreads

IC Markets do not charge any trading commission from the clients. Traders can enjoy the trade without paying any extra charge. So, IC Markets trading is commission free trading. 

Spreads are the gap between the bid and ask price of the instruments in the market. IC Markets charge low and tight spreads from their clients. 

IC Markets Review: Leverage

Leverage is the ratio offered by brokers to traders for holding high trade positions in the market. Traders can enjoy maximum leverage of 1:500 in IC Markets trading. With the high leverage ratio, traders’ risks also increase; therefore, they have to be careful with the use of the leverage ratio. 

IC Markets Review: Deposit and Withdrawal

Deposit and withdrawal of funds from the brokerage account of IC Markets are straightforward with no extra charges. Traders can easily deposit their funds and withdraw them whenever required. 

However, traders have to inform the broker in advance before withdrawing as it first verifies the broker, which takes two business days before allotting the withdrawal. 

For deposit and withdrawal of funds, traders can use the following mediums: 

  • Bank wire transfer 
  • Credit/Debit card 
  • E-wallets 

IC Markets Review: Education and Research

IC Markets do not have much educational material to offer its traders. Traders can have access to articles and videos for enhancing their trade knowledge. 

Research is necessary for any trade; with IC Markets, traders can research through the alerts, news and information, market insights and economic calendar. 

IC Markets Review: Customer Support

Trading with the IC Markets offers traders a friendly customer support service for the clients. They offer an online chat option, have a full questionnaire to solve the queries and email the broker. They are available 24/7 for customer support services. 

Final Verdict

IC Markets is the best broker with services in the area of day trading, scalping and other trade sectors. Traders enjoy a variety of services and facilities with the broker. A trader will surely have a smooth trade experience with the best trading platforms and trading tools. Thus, the trade is more understandable with the development of skills and knowledge at the same time. 

However, the trader is unique from other traders; it offers a lot if used properly. 

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