IC markets is an Australian broker with a mixed reputation, founded by Andrei Budzinsky in 2007. He has two licenses:
Australian (AFSL). Document number: 335692. IC Markets (AU) operates under this license.
Seychelles FSA. Document number: SD018. Offshore IC Markets (SC) operates under this license. It provides services to clients in Russia and 158 other countries.
In recent years, the broker sets records for the turnover of trade in individual instruments. For example, in May 2019, it amounted to $447 billion.
Despite the dizzying success, in 2016, the French regulator listed broker IC Markets as suspicious. On the Internet, opinions are divided. It is praised, then accused of poor service. Judging by the reviews, traders are allowed to withdraw money, but this process is greatly delayed.
Top Takeaways for 2019
Since licenses and regulation are the main parameter of the broker’s stability in 2019, a lot of traders are interested in with which broker it is better to work: with Forex broker licensed Central Bank or international organization with certificates of European managers.
In some ways, the license of the Central Bank creates certain restrictions for the Russian company, namely the reduction of leverage, which many traders do not like. At the same time, foreign brokers are provided with a leverage of at least 1: 1000. In addition, as a rule, international brokers have a large volume of trading assets.
However, leverage-far from acting as a guarantee of profitable trading, and to trade comfortably, a professional speculator is quite enough 1: 50, approved by the Central Bank. And the license of the Central Bank is the only document that provides legal protection to the clients of the broker that found it. However, both FCA, BaFin and CySEC, although they appear to be authoritative organizations, do not have legal force in the Russian Federation.
Brokers licensed by the Central Bank are by far the most reliable Forex companies in Russia in 2019.
Is IC Markets Safe?
According to the majority of ECN users, IC Markets broker is a reliable Forex broker that occupies a leading position in its «weight» category. Offering ultra-low spreads and excellent speed of execution of trading orders-this company is suitable for any of the existing trading styles. Whereas, ASIC regulation guarantees you high reliability of services provided by it.
ASIC-Australian securities and investments Commission.
From the point of view of a weighted assessment of this reliable Forex broker — IC Markets can be safely assigned a solid 10 points out of 10.
Is IC Markets regulated?
No. IC Markets is regulated only under ASIC, which means the Australian securities and investments Commission.
Is IC Markets Scam?
IC Markets today is the largest successful Forex broker, working with traders around the world for 10 years, offering quality service and favorable trading conditions. At the same time, the network has more positive feedback from Russian-speaking web traders, which increases confidence in the company. In many ways, all this suggests that we are not a one-day broker. There are negative reviews, and yet there are fewer of them, some of these comments resemble “custom” spam.
A positive factor is the provision of the popular MetaTrader 4 platform, its own mobile applications, an impressive and unique IC Markets True ECN service for trading, featuring fast transaction execution technology, low spreads, and interbank liquidity. Setting one of its goals the search and development of a unique high-quality service and successfully implementing it (which can be largely confirmed by positive feedback from traders), the broker demonstrates its serious intentions, the desire to take a leadership position, to differ from competitors.
We should also consider the official website of the company. There is a Russian version of it, which makes it convenient to get acquainted with the features of the system for Russian-speaking traders. The site is very simple, clear, but the small print complicates the perception of the material. The resource contains a lot of useful information: about liquidity providers, trading conditions, available accounts, analytical and training materials, etc.-all this indicates a well-thought-out policy of working with the user, which is clearly not available to Scam sites.
The company has a license, traders can contact technical support, use Analytics (news, trading calendar, calculator, market analysis) and trade much more profitably. As for the methods of communication, their list is limited: you can call by phone only to the office located in Australia, there is no representative office of the broker in Russia. In addition, the company does not have information on current bonuses on the site, which however does not prevent traders from working on the site and receiving real income.
Should IC Markets be considered a kitchen, a Scam? Today we will answer: no. 10 years of successful work with traders around the world, providing a unique and high-quality service, positive reviews on the Internet, prove it. And yet, to avoid problems with the broker, properly work with your personal Manager, specifying the necessary information about the rules of withdrawal procedures, etc.
Clients have 64 currency pairs, 17 indices, 19 commodities, more than 100 CFDS on shares (ASX, Nasdaq and NYSE exchanges), 10 cryptocurrencies, as well as bonds. IC Markets minimum Deposit is $200. You can choose from the following account types:
- True ECN (cTrader) – work in the ctrader platform, leverage 500:1, micro lots are available, Commission for 1lot — $3, spreads from 0.0 p.
- True ECN-minimum spread from 0 pips, the average spread for EUR / USD is only 0.1 points, while the Commission per lot is $3.50, the leverage is 1: 500
- Standard-zero commissions, leverage 500: 1, spread from 1 p.
The peculiarity of this broker is «True ECN», which provides good liquidity, minimum spread and high speed of order execution. Accordingly, IC Markets will suit both scalpers and day traders, as well as long-term traders. The affiliate program works on the principle of «percentage of profit», which makes it possible to receive additional profit from attracting customers. The training and Analytics presented on the site are quite scarce and are not translated into Russian.
Types of Options and Trading Platforms
A trading terminal is a software package with the help of which any brokerage company provides speculators with access to the financial market. It is to him that the trading community owes the fact that trading has become public and simple. Today, there are many trading platforms that are constantly improving and upgrading their functionality in the competitive struggle among themselves. For profitable trading, you should learn how to use the trading terminal’s capabilities as efficiently as possible. IC Markets project, having a good experience in the market, takes into account all the needs of its customers and offers them a choice of several options for trading platforms:
- MetaTrader 4.
- MetaTrader 5.
IC Markets project offers to use demo accounts on all versions of its platforms: MetaTrader 4 and 5, as well as cTrader. Using demo accounts, platforms are mastered without any risk. Here everything is quite real, including ultra-fast execution of Orders and raw Spread quotes without requoting. If you wish, you can try any expert Advisor on a demo account, and then apply it in real trading.
The project presents several types of trading accounts:
- Raw Spread (cTrader). CTrader is a kind of trading platform. The Commission for the turnover of 100 thousand dollars is only 3 dollars. Spread from 0 points, the lowest among competitors. The minimum Deposit is $200. Leverage 1: 500.
- Raw Spread. It is interesting to speculators with its minimum spread, the size of which is from 0 pips. MT4 and MT5 are used as trading platforms. The delay in the execution of orders is minimal due to the close location to the suppliers of quotations. The starting Deposit here is also $200. Leverage is 1: 500. MQL4 is used as a programming language.
- Standard. The maximum speed of orders execution. There are no commissions. The spread is from 1 point. The initial Deposit is $200. Leverage 1: 500. MetaTrader is used as a trading platform. MQL4 is used as a programming language.
How to Trade on IC Markets
Traders open for standard accounts, real ECN accounts, cTrader ECN as well as Islamic accounts without swap. All accounts are divided into Australian banks. IC Markets Multi account Manager helps financial managers and experienced traders get real-time reports through resource allocation and performance monitoring through a single user-friendly interface. You can trade on 90 currencies, metals and CFDs.
- Minimum Deposit: $200.
- IC markets reviews.
- Maximum leverage: 1: 500.
Features: IC Markets gives you a total of 10 platforms to trade, including MetarTrader4, new MetaTrader5 platforms, mobile platforms, cTrader and autotrade services like Myfxbook and ZuluTrade. These services allow you to copy trades on any system to your IC Markets MetaTrader 4 account, free of charge and without the need to download.
IC Markets for iPhone and iPad makes available both MetaTrader platforms (4 and 5). Applications help to implement trading from anywhere in the world, convenient to access the necessary data, give the opportunity to trade while on the road at anytime, anywhere. There are a lot of useful functions, access to which is quite simple, and the appearance can be changed by turning the screen. IC Markets app can be both Android and IPhone.
Replenishment is possible in 10 currencies, among the main EUR and USD. Deposits/withdrawals are made using credit and debit cards, Bank transfer, PayPal, Skrill, Neteller, WebMoney, etc. IC Markets Does not charge additional fees when depositing and withdrawing funds. It should be noted that international banking institutions may charge fees. Withdrawal to the Bank card takes 3-5 days, the EPS withdrawal is carried out immediately after processing the application.
Any broker develops its bonus program solely for the purpose of increasing the user audience. A variety of types of rewards promises to attract more customers. Oddly enough, there are no bonuses and shares in IC Markets. The developers of the project believe that one of the best rewards to the user is the high quality of services provided. In fact, it is. By registering on the site icmarkets.com. any user starts cooperation with a professional broker, not a representative of the Forex market. Also, the minimum Commission amount can be considered a bonus. For example, when depositing more than $5 thousand, the broker reduces it from 7 to 5.5 dollars per lot. There is also a no Deposit bonus. And the most active traders are given different IC Markets rebates.
The response time varies from 1-5 minutes depending on the workload. Technical support in English. Russian-language support is also available, but the schedule of its work is not fixed (a few days it is 16: 00-00: 00, then 08:00-16: 00), which affects the efficiency of solving Your question.
IC Markets does not accept account opening requests from residents of the United States, Canada, Israel and the Islamic Republic of Iran. The information on this site is not intended for residents of any country, territory or jurisdiction where the distribution or use of such information is contrary to local laws or regulations.
IC Markets does not produce or sell cryptocurrencies, nor is it a provider of services that can be used to exchange digital currencies. It acts as an Issuer of over-the-counter derivatives, namely CFDs on all kinds of underlying instruments, including other assets and cryptocurrency.
Pros and Cons
The main advantages of Forex broker IC Markets include:
- low spread or its complete absence, which makes intraday trading convenient;
- faster order execution thanks to data centers in London and New York;
- convenient transaction volumes and best quotes;
- ability to place deposits in 10 different currencies;
- possibility of scalping, hedging and automatic trading.
The disadvantages from the point of view of the Russian trader can be attributed only to the inability to replenish the account in rubles and the lack of a license of the Russian regulator.
Also, IC Markets rebates are provided for traders whose trading volume exceeds one hundred standard lots per month.
Summing up the IC Markets review, has been performing its duties for ten years. The broker can be safely ranked among the leaders of this industry. Attracts customers, thanks to the exclusive and latest features, such as stock glass, «Ladder», monitor spreads. All operations are carried out on profitable terms:
- Low difference between Bid and Ask.
- Choosing a convenient currency.
- Instant Deposit and withdrawal of funds.
A considerable number of positive responses, transparent policy, license availability, informative content and the ability to find useful articles on the broker’s website-all this also plays a role in building the company’s image. In addition, the broker has a mobile application and platforms developed by them, for example, IC Markets True ECN, which is created to facilitate the work of clients with the site. This means that each new client can undergo a little training and learn proven information directly from specialists in a particular area of trading.
Such significant experience already suggests that according to the review IC Markets is reliable and secure.Therefore, any fraud can be excluded. However, a positive reputation depends largely on customer feedback. They can be both positive and sharply negative. And this can greatly affect the evaluation of the broker in the future.