IC Markets started operations in 2007 in Sydney, Australia. Its founders were professionals in the financial services industry who worked for Australia’s CFD and Forex providers.
Two years later, in 2009, IC obtained an Australian Financial Services License (AFSL) from the Australian Securities and Investments Commission (ASIC).
“IC Markets’ mission is to create the best and most transparent trading experience for retail and institutional clients, allowing traders to focus more on their trading. Built by traders and traders, IC Markets is dedicated to offering spreads, execution and superior services. ” (broker’s website)
The data provided by the IC itself, affirms that it is one of the most renowned forex CFD brokers in the world, and that it is revolutionizing online forex trading, with its cutting-edge trading platforms, fast connectivity and superior liquidity.
Currently, IC Markets “sells” itself through its numbers. According to Financial Magnates T1 & T2 2017, IC is the largest FX broker in the world by FX volume (excluding Japan). There are approximately 60,000 active customers worldwide, with an excellent rating (9/10) on the Trustpilot rating.
The minimum deposit for IC Markets is $ 200. The broker also offers three account options in which trading costs range from no commission (spread only) in the Standard account to commission based prices (spread + commission) in True ECN and cTrader accounts.
IC Markets offers variable spreads on Meta Trader 4, Meta Trader 5 and cTrader accounts. The commission only applies to Forex and Metals, also with variation according to the trading account. The cTrader commission is charged per side, per 100,000 USD operated, different, for example, from MT4 which charges a fixed amount per lot.
The commission on the cTrader platform is $ 3 USD for every 100,000 traded. The commission amount in USD is converted to the base currency of an amount, at the current local rate. It is true that the spreads of IC Markets then among the lowest among the majors and other currency pairs. The average spread on the EUR / USD of 0.1 pips is currently the lowest in the world.
On the application of Swap Rates, they are determined by the overnight interest rate differential (overnight) between the two currencies involved in the pair and whether the position is long (long) or short (short). The swap is defined as interest over the night, added or deducted for maintaining an open position. Each currency pair has its own swap cost and is measured in a standard size of 1.0 lots (100,000 base units).
At IC Markets swap rates are calculated in points, MetaTrader 4 and 5, automatically converted into the base currency of the account, and on Wednesday night, swaps are charged at triple the usual rate.
Is IC Markets reliable?
After studies and analysis we can conclude that yes, IC Markets is reliable. It is already a recognized broker in the market serving 160 countries over 60 countries, and with regulations, which we can assume, which makes it more aware of the security standards and services offered.
It is a company that greatly highlights its transparency of operations and efforts to be the best recognized broker worldwide. In addition to competitive spreads and low commissions, it also has good platforms and account options. Although it is necessary to analyze the standard account well, which in a closer look, may not be the most attractive.
And for those who are starting, in addition to the ease of opening accounts, deposits and withdrawals, IC Markets also has good educational content, covering everything from psychological to strategic issues. We can conclude that CI is a good broker option for your analysis.
How to Deposit?
The company offers more than 14 very flexible options for deposits in up to 10 different currencies. The most used are Mastercard and Visa, Paypal credit and debit cards – Yes! They accept this option! – Neteller, Neteller VIP, QIWI, Skrill, Union Pay, in addition to conventional bank transfers and more. Transactions are usually transferred immediately and do not require any additional verification.
Withdrawals are made in a much simpler and more practical way at IC Markets. With the platform you can make withdrawals at any time, of any amount. The only counterpoint in this case is that there is a need for identity verification, which sometimes ends up delaying the withdrawal process.
• How to Open a Demo Account
Opening a demo account is very simple. You must access the platform through the company’s official website, fill out an electronic form with email, phone and other contact information and that’s it! Now just create a login code and password. Thereafter, the registration will be released for access to any of the demo accounts, which must also be indicated by the investor himself in the account opening process.
HOW TO GET HELP AND INFORMATION AT IC MARKETS?
The platform offers a wide range of options so that the user can answer their questions or just consult information on the platform:
If you have more advanced and specific questions, the platform offers support via email. In the emails destined for each part of the platform (as shown) you will have a professional to assist, however the response time is usually longer than the other methods.
The platform offers a toll-free phone for Brazilian users, the platform promises 24/5 service.
• Live chat
The platform also has a live chat that seemed to be quite effective in what it proposes.
MOST COMMON QUESTIONS ABOUT IC MARKETS [FAQ]
It is normal for beginners on the platform to appear several and several doubts while using the platform and discovering the services and tools that are offered. Often these doubts are common to all beginners or even the most experienced in that specific area.
Thinking about making life easier for the user and the platform, ICMarkets configured an area of the site only for the most frequently asked questions from users. That way the user doesn’t waste time using one of the platform’s contact channels and can go straight to the solution that is already ready and well explained.
The page already offers on the main help page a box where the user can put the main topic of their question to see the most common questions about that topic.
The platform says that the overwhelming majority of doubts about everything they offer are answered there, except for some very specific and advanced cases which the user can use from one of the contact options offered by IC Markets. Below are the top 3 of the most sought after themes by users on the platform:
• Account types
• Minimum Deposit
That way it is much easier to find, it is a great positive point for the platform.
IC Markets does not pay?
This question is perhaps the most important, and that is why our team always does an in-depth research to better understand all aspects and find possible flaws in the marketing practiced by the company and also for possible flaws in the platform. We always search online forums, famous complaint portals and even social networks for the opinion and stories of users in the national and international market.
In the case of IC Market, there are no reports or records of scandals for default or non-payments, just a few specific complaints about any delay in checking the account or withdrawal operations. But other than that, nothing serious to expose the company’s reputation. The brokerage has a good reputation in the Brazilian market and also a large user base internationally which brings confidence to the user, IC Market does pay. With all the advantages and bonuses, it is worth testing the platforms offered by the broker to see for yourself the withdrawal system.
Payment and withdrawal
Fund management operations are available in the Client Area.
The most popular methods:
• traditional bank transfer (Australian bank),
• credit / debit card
• Transfer from another broker’s account,
• Bitcoin wallet.
Transactions are available in currencies up to 10: USD, EUR, CHF, GBP, AUD, NZD, JPY, HKG, CAD, SGD.
IC Markets does not charge, but does not cover the costs associated with transferring funds. In the case of a transfer transaction, the customer bears the costs of the SWIFT transfer according to the bank’s price list. The time for such an operation is usually 2-5 business days.
If you want to quickly grow your account, the best deals are credit card / debit card transactions or online payment operators, such as Skrill, Neteller or PayPal. Account funds are launched on the same day.
You can transfer funds to your IC Markets account directly from our investment account with another Forex broker. Operations of companies such as:
• Think of Forex.
Withdrawal of funds is ordered after logging in to the Client Area (Withdraw Funds tab), where we can also monitor the status of our transactions.
IC Markets has excellent phone and email support. On the other hand, live chat can be improved
• Relevant responses
• Fast email and phone support
• 24/7 availability
• Slow and irrelevant live chat
IC Markets has extensive telephone support. They answered in a minute and we got relevant answers.
Email support works very well. We sent four emails and got responses in one day for all of them. These responses were useful and relevant. We also liked that they asked for feedback for support.
Live chat can be improved. It is slow as we expect an average of 10 minutes or more. The responses we received were not relevant. For example, we had to ask several questions until we knew how financing rates work. We also appreciate the 24/7 availability.
IC Markets does a great job in education. It offers many educational tools in a great quality. You can use a demo account, watch videos from the trading platform or read educational articles
• Demo account
• Tutorial videos on the trading platform
• Good production quality
At IC Markets you can learn in the following ways.
• Demo account
• Platform tutorial videos
• Educational videos
• Quality educational texts
The educational content can be found on the website, below the education section and on the IC Markets blog. They are well structured and cover useful topics, such as technical analysis or risk management.
General educational videos are of great quality. They can only be found on the IC Markets Vimeo channel, and not directly from the website or trading platform.
Experience cTrader faster, more agile and easier to use than ever with an ongoing sign-up and login process with Facebook, Google or cTrader ID. CTrader does not compromise resources, transparency or speed when trading on mobile devices or tablets; you can expect as much information about your trading and order fulfillment events as on the desktop. You can download this application in App Store or Play Market for ios and android devices.
You get access to a full range of order types, technical analysis tools, price alerts, trading statistics, order management settings, symbol watch lists and a variety of settings to customize the platform for your trading requirements on-the-go.
• 26 Deadlines; from a minute to a month
• 50+ indicators; all the most popular indicators are available
• 4 types of graphics; Candlesticks, Bar Graph, Line Graph, Dot Graph
• Symbol watchlists; group and save your favorite symbols
• Price alerts; get notified when a price reaches a specified level
• Email alert configuration; choose which events you want to know
• Fluid and responsive letters; for a perfect graphics experience
• Market sentiment indicator; see how other people are negotiating
• QuickTrade mode; trading with a sensitive touch
• Symbol trading hours; so you know when the market is open and closed
• Detailed symbol information; to help you understand the assets your trading
• Links to news sources; learn more about events that affect your trading
• Trade statistics; review your strategy and performance in detail
• Sign up or log in to Facebook or Google; fast and convenient
• Trade using lots or units; apply settings by asset class
• 22 languages
If you enjoyed this article you can also check 1xbet review.