It would be impossible to discuss reputable trading platforms without mentioning the most experienced broker, IC Markets – with over 15 years of experience, nearly 200,000 investors believe, the total transaction volume is 1.11 billion USD. So, let’s examine the IC Markets platform below with Betomon to learn more about how it operates, what are its interest rates, and what is outstanding about its product,…
What is IC Markets?
Established in 2007 by a group of financial industry specialists in Sydney, Australia, IC Markets is one of the most reputable forex exchanges in the world. IC Markets is also the second fastest growing exchange in the world, trailing only XM in terms of trading volume, and has become the world’s leading retail broker.
As reported by Wikipedia, ICMarket has over 15 years of experience in the foreign exchange market, serving more than 180,000 customers with an average transaction value of $646 billion, and is authorized by the world’s leading regulatory agencies ASIC, FCA, and CySEC.
The website states that: “IC Markets’ mission is to create the best and the most transparent trading services for both retail and institutional customers, helping traders to focus more on their transactions”, which only investment banks or highly capitalized individuals have been able to accomplish until now.
IC markets’ operating motto is to create the best trading environment for investors. Because of its competitive fees, excellent customer support, and exceptional trading technology platform, IC Markets is highly appreciated by both traders and broker review websites as Forex Peace Army.
| Established | 2007 |
| Agency of management | FSA, ASIC, SCB, CYSEC |
| Exchanges | ECN |
| Trading Platforms | MT4, MT5, cTrader |
| Trading Tools | Forex, Indices, Commodities, Stocks, Bonds, Cryptocurrencies, Forward Contract |
| Minimum deposit | $200 |
| Types of accounts | Standard Account, Raw Spread Account |
| Maximum leverage | 1:1000 |
| Spread fees | from 0.0 pip |
| Website languages | English, Vietnamese |
| Deposit and withdrawal methods |
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Is IC Markets reputable?
When learning about IC Markets or any trading platform, investors are particularly interested in this topic. In order to decide whether IC Markets is reputable or not, we will rely on a strict evaluation process to provide the most objective assessments.
Operating time
ICMarkets has been in the financial investment market for 15 years since 2007. This is a significant number in comparison to the majority of trading platforms available today. There have never been any reports of ICMarkets defrauding players during that time, the company has always behaved very responsibly toward its clients.
However, objectively, there are still several cases of posts on social media sites exposing IC Markets with the headline “ICMarkets scammed money, stole 1.1 billion but only returned 412 million to customers.” Nevertheless, all of the information in these articles only asks for likes and interactions as there is no real evidence.
IC Markets license
Additionally, IC Markets has proven reliability by being granted licenses by reputable and well-known financial institutions worldwide, including:
- FSA – The Financial Services Authority of Seychelles: This financial agency is responsible for supervising, managing and developing non-bank financial services in Seychelles. The majority of exchanges want a license from this firm. ICMarkets is authorized with license number SD018.
- ASIC – Australian Securities and Investments Commission- Australia’s leading agency for regulating financial activities. ICMarkets is authorized under license number 335692.
- CYSEC – Cyprus Securities and Exchange Commission, the financial management agency of the Republic of Cyprus tasked with protecting investors’ interests and developing an effective financial market. ICMarkets is licensed with number 362/18.
- SCB – Securities Commission of the Bahamas. ICMarkets is granted license number SIA-F214.
Strictly supervised and managed by these financial institutions, IC Markets ensures their activities are always transparent and obvious, as well as safeguarding the interests of its clients, supporting them in every case.
Customer fund protection policy
When trading on forex exchanges, a lot of investors are frequently concerned about their assets. Nonetheless, ICMarkets always has a policy in place to secure client funds:
ICMarkets keeps customers’ money at leading reputable banks in Australia such as Westpac Bank, NAB Bank. Additionally, customer funds are kept entirely separate from company funds, and the exchange is not permitted to use customer funds for any purpose.
Auditing activities of ICMarkets are carried out independently by the top auditing firms in the world.
Trading products of ICMarkets
The large number of trading products is probably the first thing that investors think of when mentioning ICMarkets. More than 2,000 products across 7 different types of assets are currently offered by IC Markets, giving investors easy access to the global financial markets.
In particular, you can trade the following products at IC Markets:
- Forex: Over 61 currency pairs with deep liquidity and spreads from only 0.0 pip
- Commodities: Over 22 popular commodities such as energy, agricultural products, metals, CFDs on Spot Contracts and Futures Contracts with leverage from 0.0 pip
- Indices: provides simple entry to the global stock market, with 23 indices and extremely low spreads.
- Bonds: Trading 9 different types of bonds from Japan, Europe, UK, and USA governments.
- Cryptocurrencies: The 21 most popular cryptocurrencies such as BTC, ETH, LTC, DSH, XRP, EOS, ….
- Shares: Over 1800 share codes and CFDs on ETFs on the ASX, NYSE and NASDAQ exchanges.
- Forward contract: Offers four different types of forward contract around the world, including the ICE Dollar index, CBOE VIX, WTI Crude Oil, and Brent Crude Oil.
IC Markets Trading Platform
ICMarkets also supports the cTrader platform in addition to the MT4 and MT5 trading platforms. All three of these platforms are compatible with mobile devices and support customers in trading in the best and fastest way without any interruption.
MT4 and MT5 platform
In the current Forex market, the two most widely used trading platforms are MT4 and MT5 due to its user-friendly interface, simplicity of use, and support for a variety of features. In particular, because it was released later, MT5 can overcome many of the drawbacks that MT4 experienced.
Some outstanding features of the MT4/MT5 platform on ICMarkets include:
- Ensuring extremely fast order matching speed because the MT4 and MT5 servers of IC Markets are located in the Equinix NY4 data center in New York.
- Supports trading with all products such as: forex, stocks, indices, bonds, cryptocurrencies and commodities.
- The Raw Pricing connection allows access to the world’s leading liquidity providers.
- The volume of transactions is unrestricted. You can place small orders starting at 0.01 lot, with no maximum limit.
- Spreads begin at 0.0 pip, with the EUR/USD average spread being only 0.1 pip, the lowest in the world.
cTrader platform
Additionally, another well-liked trading platform is cTrader, which was developed by Systems Ltd from the UK. Not only ICMarkets but also many other exchanges are using this platform. cTrader also has the following outstanding benefits and characteristics despite its later release than MT4 and MT5:
- Permits users to access deep liquidity by connecting to the Raw Pricing system.
- Order matching speed is very quick because IC’s cTrader server is based in the LD5 IBX Equinix Data Center in London.
- Real-time forex and CFD quotes.
- Small lot trading – The minimum lot size is 0.01 and no maximum limit.
- Level II valuation with full market depth.
- Trade with one click.
- Smart Stop Out Level. The system at cTrader will automatically close part of the loss in order to return the asset to the allowable level if it falls to the stop out level.
- Try this platform out if you haven’t used it before. cTrader’s features are certain to satisfy you.
Types of ICMarkets accounts
Three different types of trading accounts are currently offered by ICMarkets, suitable for each type of customer. Before choosing which kind of account to open, you should thoroughly understand the features and transaction fees associated with each type.
cTrader Account
This account is for traders using the cTrader platform; it has deep liquidity, low spreads starting at 0.0 pip, quick order matching, and connects to the Raw Pricing system, appropriating for short transactions such as scalping and day trading.
Raw Spread Account
Traders who use EAs and scalping are well suited for the Raw Spread account. In addition to low spreads and small commissions from 3.5 USD per lot, Raw Spread also has price sources from over 25 banks and other underground liquidity sources, which provide standard pricing, deep liquidity, and rapid order matching speed.
Standard Account
Investors in this kind of account will not pay commissions; however, they will pay a 0.6 pip spread fee instead of a 0.0 pip. The standard account is considered appropriate for customs traders.
Additionally, you can consult the comparison table of IC Markets account types below to help you efficiently select the most appropriate option:
