IC Markets is a Forex and CFD brokerage that is based out of Australia. A well-known broker in that country, as well as around the world, IC Markets is a bit of a “one-stop shop” as it offers so many different financial estimates to choose from.

Trading accounts

IC Markets offers three different types of trading accounts, the True ECN, True ECN cTrader, and Standard. The Standard account offers no commission trades, uses the MetaTrader system, with spreads as low as 1 pip. The True ECN accounts offer spreads from 0.0 pips, with the MetaTrader version charging $3.50 commission per lot, per side. The cTrader offers the same tight spreads with a $3.00 commission per lot set up.

The company

IC Markets is operated under the strict supervision of the Australian Securities and Investment Commission, meeting strict capital requirements. The company works closely with BNP Paribas, HSBC, UBS, Credit Suisse, Goldman Sachs, and a whole host of other major institutions around the world. In fact, they are the largest epics broker in the world by FX volume. (Ex-Japan) IC Markets did over $646 billion worth of trading volume in March 2019 alone.

Trading conditions

Initial deposit

The initial deposit at IC Markets is a straightforward $200 to open any of the accounts. Because of this, it is a major broker that offers access to just about anybody.

Spreads and conditions

IC Markets offers multiple markets to trade, including Forex, Metals, Energy, Indices, Soft Commodities, Crypto, Bonds, ETFs and Stocks from the United States and Australia. Because of this, the spreads can vary greatly from one market to another, but the highlights would include an average 0.1 pip spread in the EUR/USD pair, 0.0 in the USD/CHF pair, 1.0 pips in the DAX CFD, and a spread of 1.25 in the corn market.

Leverage

Leverage at ICM varies depending on the instrument traded obviously. However, the indices are at 1:20, the energy markets are 1:10, and currencies are at 1:500 as a few examples. It should be noted that the leverage in the crypto currency market is a bit low, but that’s something that we are starting to see around the world anyway, as the crypto bubble has burst. Beyond that, the market could pick up major but dangerous volatility at any point.

Trading platforms

IC Markets uses the well-known MetaTrader ecosystem, including versions 4 and 5, as well as flavors for android, Mac, and the MT Web trader. They also use cTrader, which is the world’s second most popular trading platform for currencies. With that in mind, traders will be very comfortable with all of the options that are available to them, and familiar with these intuitive and well tested trading platforms.

Payment methods

IC Markets allows a plethora of options for both deposit and withdrawal. These include PayPal, credit card, bank transfer, Skrill, Neteller, and several other regional payment possibilities. Beyond that, they also offer transactions in multiple currencies for many of these choices. These offer enough opportunities for traders around the world to fund their accounts easily.

Extras

IC Markets offers a significant educational area that includes basic information about Forex, CFD markets, getting started lessons, Web TV for news, as well as plenty of video tutorials. There’s a blog, works calculators, and an economic calendar. Quite frankly, this is one of the larger attractions to this broker.