IC Markets review (2022) Review
IC Markets is a regulated CFD broker, established in 2007 in Sydney, Australia. It has several branches and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Supervisory Authority (FSA) and the Australian Securities and Investments Commission (ASIC). IC Markets offers a total of 291 tradeable instruments, three account types, a $200 deposit and they offer a demo account. The MetaTrader and cTrader platform suites are available.
What can be traded with IC Markets
Here, you can trade only forex and CFDs over 3 accounts. They offer:
- Forex CFD
- Indices CFD
- Commodities CFD
- Stocks CFD
- Bonds CFD
- Crypto CFD
IC Markets regulation
IC Markets is authorised and regulated by multiple Regulators across the world. IC Market Global complies with the FSA regulatory requirements, client funds are held in client segregated accounts with top tier banking institutions, in accordance with the FSA Anti-Money Laundering and Counter-Terrorism Financial Act 2020, IC Markets Global has in place policies and procedures to ensure compliance with the law.
IC Markets offer a free demo account, where you can learn and gain confidence. This type of account will allow you to train on the basics of trading. This is done using virtual funds that the client can trade in a simulated trading environment. The demo account is highlighted several times on their website, so it’s easy to find.
IC Markets fees
IC Markets has low trading and non-trading fees. No inactivity or withdrawal fee, but on the other side financing rates for CFDs are high. Note, that there are different cost structures for different account types. The deposit minimum is $ 200 and there are no inactivity, deposit or account fees.
Registering for an account with IC Markets
The join button is everywhere on their website. Very simple to find, click and a short form appears.
After registering I received two emails. One with general information and the other with my login details.
Another form you need to fill in before you can open your account is a form nominating your trading platform, account type, currency, leverage and initial deposit amount. Aa I am a beginner, I find this unnecessary and also, I`m not quite sure how to fill this.
I left it how it was pre-set. A message came up, that I have received another email, to open a demo account with a step by step guide.
By clicking on the download button, I was taken to another page, to click another download button and choose the software I`m downloading with. The download took only a few minutes, but I was unable to open the platform. I decided to go with the WebTrader instead.
The registration took a bit longer than expected and I was disappointed I couldn`t use MT4 on my MacBook.
I was unable to download the MT4 platform on my MacBook, so I tried to go with a WebTrader, but that crashed on a message:
Whatever I chose, the WebTrader did not work, so I couldn`t use a demo account here either.
The brokers’ website
From my point of view, the colors are good, black and neon green work. The web is functional, and the main points are highlighted on the front page. The main pane at the top offers:
In the QuickStart option, they explain prices, accounts, how to deposit and withdraw money and they explain the platforms IC Markets offer. Clicking on More, you get education support, information about the company and Help with Resources. It offers many great tools on its website. From using the demo to video tutorials and webinars. They are well-structured and cover useful topics like technical analysis and risk management.
IC Markets social networks accounts
In the footer of the main page, you can click through to their Facebook, Twitter, Instagram or Google plus account. On their Facebook account, they post several times a day. You can find all sorts of news, analysis or other information there. Twitter has exactly the same activity, so I`d say, their social feeds are up to date and good.
Advantages and disadvantages
IC Markets is regulated by several financial authorities globally, their website is well designed and up to date. Its forex fees are quite low and opening an account should be fast and easy. Although for some reason I had a repetitive message saying to choose a field and whichever field I chose was incorrect and therefore couldn’t open a demo account. Also, IC Markets offers only forex and CFD products for trading.
- Demo account impossible to open
- Only Forex and CFD
- No fixed spreads
- Long waiting time possible for withdrawals
- 24/7 customer support
- Low fees
- Educational videos
- MT4, MT5 or a cTrader platforms
Pros / Cons