With so many different forex brokers for a trader to choose from, it is important to know what you are getting yourself into. That is why reading and understanding the various forex broker reviews is important to every trader’s forex knowledge. Especially with so many factors to consider when choosing a broker, such as their reliability, regulation status and platform quality to name a few. That is why in this article, we will provide you with a mini review of IC Markets, highlighting some of the qualities that make IC markets stand out as an excellent all-round broker.
IC Markets Broker Review | Source: Meta Via Istockphoto
Background and Regulation:
IC Markets has grown rapidly since its 2007 inception to become a prominent broker in the market. Traders may be certain that their money is safe with this Australian based firm since it is governed by the Financial Authority Services of Seychelles (FSA Seychelles).
With its Raw Spread Account IC Markets offers the most economical trading environment compared to almost any other broker with average spreads of 0.10 pips (EUR/USD) for a modest 6 USD (round turn) per lot.
Trading Platforms:
Traders may take use of IC Markets access to many trading platforms such as cTrader, MetaTrader 5 and MetaTrader 4. The automated trading features technical analysis tools and sophisticated charting tools on these platforms are well known and appreciated by traders of all skill levels.
Range of Instruments:
The wide variety of IC Markets tradable instruments is a major perk of using their platform to trade. Forex indices commodities, cryptocurrencies and bonds are just a few of the many financial instruments available to traders who may diversify and tailor their portfolios to their own needs.
Tight Spreads and Low Fees:
IC Markets provides traders with some of the industrys narrowest spreads and is famous for its cheap pricing. Not only that but the broker offers minimal commissions on specific trading accounts so traders of all sizes may put their techniques to work without breaking the bank.
Execution Speed and Technology:
IC Markets uses state of the art technology to provide very rapid execution times with very little slippage. Traders can execute transactions quickly and precisely even during times of extreme market volatility thanks to servers situated in major financial centers around the globe and a solid infrastructure.
IC Markets Trading Accounts:
The trading fees for IC Markets accounts vary according on the account type. With the Standard Account you may trade without commissions and with spreads on EUR/USD beginning at 0.6 pip. Traders dealing in large volumes will find the Raw Spread Accounts 7 USD lot fee and narrow spreads (average: 0.10 pip) to be ideal. Day traders may take advantage of spreads as low as 0.0 pips with the cTrader Raw Spread Account which is priced at 6 USD per lot.
| Trading Account | Minimum Deposit | Minimum Spread (EUR/USD) | Commission | Trading Cost (USD) |
| RAW: cTrader | USD 200 | 0.20 | 6 USD per lot | 6.02 |
| Raw: MetaTrader | USD 200 | 0.20 | 7 USD per lot | 7.02 |
| Standard: MetaTrader | USD 200 | 0.80 | Spread only | 8 |
Customer Support:
Traders may reach the brokers customer support team at any time from any location. Support is available by phone live chat and email and the team is well known for solving issues quickly and thoroughly.
Education and Research:
The educational resources and analytical tools offered by IC Markets help traders perfect their craft and stay up to date of industry developments. We provide daily market research in addition to webinars, tutorials trading rules and more for traders of all experience levels.
Pros:
- Regulated by FSA-Seychelles, ensuring a high level of security and trust.
- Wide range of trading platforms and instruments, catering to diverse trading preferences.
- Competitive pricing with tight spreads and low fees.
- Fast execution speeds and advanced technology infrastructure.
- Excellent customer support services are available 24/7.
- Comprehensive educational resources and research tools for traders.
Cons:
- Restricted possibilities for deposits and withdrawals in comparison to certain other brokers.
- The pure quantity of instruments available to traders could be daunting for some.
Conclusion:
IC Markets is an outstanding example of a trust worthy broker because of too many benefits it provides to traders including low fees cutting edge trading platforms and first rate support whenever needed. Peoples looking for a faithful broker for their trading requirements continue to choose IC Markets because of its dedication to openness, safety and innovation. And if you are looking for a great broker IC is worth considering however if you are looking for more information about IC Markets and the offerings they have then be sure to look at another great ICMarketsbroker review.
