IC Markets Basics
| 🏛️ Based in | Sydney, Australia |
|---|---|
| ⚖️ Regulation | ASIC, AFSL |
| 💰 Minimum Deposit | $200 |
| 💳 Deposit Options | VISA, MasterCard, Bank Wire, Skrill, PayPal, Poli, Neteller, BPAY, UnionPay, and FasaPay. |
| 💳 Withdrawal Options | VISA, MasterCard, Bank Wire, Skrill, PayPal, Poli, Neteller, BPAY, UnionPay, and FasaPay. |
| 📌Open an account | Start Trading with IC Markets |
Our Opinion About IC Markets
IC Markets is one of Australia’s largest CFD and forex brokers. It prides itself on being a True ECN broker with great trading conditions and cutting-edge trading technology. It offers a wide range of instruments including currencies, commodities, indices, bonds, stocks, and cryptocurrencies. The company also offers a transparent trading environment complete with easy market access, low latency trading, and excellent trading conditions.
Key Benefits
Regulation And Safety
IC Markets is a licensed broker. They are regulated by ASIC which is the Australian Securities and Investment Commission. They are also licensed by CySEC, the FSA, and the FSB. This means that they hold licences in multiple jurisdictions and can offer their services in many countries worldwide.
Regulation In Africa
IC Markets is well-known for its high quality services and excellent customer service. They are licensed by some of the strictest regulatory authorities in the world, including ASIC, and are closely monitored by several financial bodies. Traders in Africa can open an online trading account with their FSA-regulated business entity. The Financial Services Authority of the Seychelles, while less well-known, still offers some regulatory oversight, and does monitor IC Markets’ activities. As such, traders in Kenya can expect fair treatment, a reliable service, and good client fund protection.
Fund Safety
IC Markets abides by all their regulatory requirements relating to client fund management and client fund protection. For example, they keeps client funds in segregated trust accounts at Australian Banks, National Australia Bank (NAB) and Westpac Banking Corporation (Westpac). This means that client funds are held separately from company funds. It also means that IC Markets cannot use client funds for any purpose, including their own business purposes.
IC Markets: Legit Or Scam?
In our opinion, IC Markets is a legit broker. They offer a secure online trading environment and a reliable forex trading service. They have been working in the forex industry, under close regulatory supervision, for many years and have many clients. IC Markets is also licensed by some of the strictest regulatory bodies in the world and abide by all regulatory guidelines. In terms of their trading products, they have competitive accounts, transparent trading conditions, and affordable minimum deposits. They also have a good choice of payment methods and good transaction-handling policies. In our view, they are a legit broker and a good option for forex traders in Africa.
Trading Assets
IC Markets has plenty of trading instruments for you to choose from. You can trade any of their 80+ currency pairs, commodities, indices, bonds, stocks, and cryptocurrencies.
Trading Instruments
- Forex: They give you access to 60 forex pairs including majors, minors, and exotics.
- Commodities: They give you access to metals, energies, and agricultural products.
- Stocks: They give you access to 1,600+ CFDs including Apple, Alphabet, Amazon, and Tesla.
- Indices: They give you access to 23 stock indices, including NASDAQ and the S&P 500.
- Bonds: They give you access to trading on 11 bonds
- Cryptocurrencies: They give you access to Bitcoin, Bitcoin Cash, Ethereum, Dash Coin, & Litecoin.
IC Markets Account Types
| Type | Spreads | Min. Deposit | Max. Leverage | Commission |
|---|---|---|---|---|
| Standard | From 0.6 pips | $200 | 1:500 | $0 |
| Raw (cTrader) | From 0.0 pips | $200 | 1:500 | $6 per lot |
| Raw (MetaTrader) | From 0.0 pips | $200 | 1:500 | $7 per lot |
Real Accounts
The IC Markets real trading accounts are a great choice. They come with good online trading platforms, fair online trading conditions, and fast trade execution. They also come with simple, transparent fee structures. For example, you can trade with no spreads or no commissions, depending on which trading account you choose. You only need to make a minimum deposit of $200, and you’re good to go!
IC Markets Leverage
The maximum leverage is up to 1:500 on their trading accounts.
IC Markets Commission
The maximum commission fee is $7 per lot on their trading accounts.
PAMM Accounts
As part of our IC Markets review, we checked whether they provide PAMM accounts. PAMM account are a great tool for professional traders. This is because they allow you to make trades for other people, and to offer a fully-managed invest portfolio, in exchange for a small fee. To find out more about the IC Markets PAMM account service, you should contact their customer support team.
Demo Accounts
As part of our IC Markets review, we also checked whether they offer demo accounts. Demo account enable you to trade using virtual money, instead of real funds, and to try your trading strategies in a risk-free trading environment. As such , the IC Markets demo account is a great tool that you can use to practise your trading skills and to learn more about the forex market.
Islamic Swap-Free Accounts
All of the IC Markets trading accounts have swap-free versions available.
IC Markets Registration: How To Open An Account
As part of our IC Markets broker review, we had a look at their online registration. If you live in Africa, then you are eligible to open an IC Markets live trading account. The online registration process is quite simple and should only take a few minutes. The first step is to go to their website and complete the online registration form. This is so that IC Markets can ask you for a few personal details and start creating your account. The next step is to provide an email address and password. This so that IC Markets can starting verifying your account and creating your login details.
The next step is to complete a short online trading quiz. This is so that they can see how much you know about the financial markets and decide if you are eligible to access their online trading services. If you pass the quiz, you can proceed to the next step of the process, and get ready to verify your online trading account account. This final step is sometimes known as the ‘KYC’, or ‘Know Your Customer’ step of the online registration process. It usually involves sending them a proof of ID and and proof of address. This enables IC Markets to complete their regulatory checks and ensure that they are meeting all their legal requirements. After you have completed this step, you can deposit money into your account, download your online trading platform, and get ready to start trading.
IC Markets Registration: How To Verify An Account
As part of our IC Markets broker review, we also checked their KYC process. In order to open a trading account, you need to provide a primary form of ID showing your name. This could be a copy of your passport, your driver’s license, or a national identity card. You also need to provide a secondary form of ID showing your residential address. For example, you could provide a copy of a utility bill, a bank statement, or a government-issued tax document. When you have provided all the correct information and documents, then IC Markets will check the paperwork and approve your account.
IC Markets Deposits & Withdrawals
IC Markets has several different payment options. You can deposit money using credit cards, debit cards, bank transfers, Paypal, Skrill, Neteller, Qiwi, Webmoney, and FasaPay. You can also withdraw money using any of those payment methods.
IC Markets Trading Platforms
IC Markets offers three online trading platforms – MT4, MT5, and cTrader. These platforms are free, easy to use, and available all devices.
MetaTrader4 (MT4) is one of the most popular trading platforms in the forex industry, and a good option for online traders in Africa. It has a simple layout and is easy to use. It also has plenty of free trading tools. You can use the IC Markets MT4 platform to get access all to many financial markets including the forex, stock, and indices markets. The trading platform has many advanced charting tools, 4 order execution types, 30 technical indicators and 23 analytical objects. This means that you can easily use it to access price charts and implement your trades.
MetaTrader5 (MT5) is one of the most used trading platforms in the forex industry, and a good option for intermediate traders in Africa. It is slightly more advanced than MetaTrader4, has a better design, and gives you access to more features. You can use it to trade any of the available financial instruments including forex, energies, and metals. The IC Markets MT5 platform also has a nice range of trading tools including 6 order execution types, 38 indicators, and 37 analytical objects. This means that you can use it to analyse the markets and set up your trades.
cTrader is another well-known and powerful forex trading platform. It is free to use and has a simple, modern layout. You can use it to trade a wide range of CFD trading instruments including forex, cryptos and stocks. The IC Markets cTrader platform also comes with plenty of nice features including 6 order types, 55 technical indicators, an economic calendar, and market sentiment tools. This means that you have everything you need to study price movements and start making trades.
Trading Tools
This forex broker has plenty of free online trading tools. For example, it gives you access to a free economic calendar and free online trading calculators. You can use these trading tools to access market news, forecast future prices, and plan your trading strategies.
Education And Research
This forex broker also has plenty of free educational resources. It gives you access to free fundamental market analysis, technical market analysis, and trading data – all via one online trading hub. It also gives you access to free webinars and free educational videos. This is great for new traders who want to learn more about trading the financial markets.
IC Markets Trading Hours
IC Markets operates during standard market hours across all financial markets. You can trade forex whenever the forex market is open. Standard hours may vary for some public holidays.
Customer Service
IC Markets has an excellent customer support team. They are quick to respond to messages and speak several different languages. They will help you if you have any questions about your trading accounts. You can contact them via live chat, email, or phone.
Our Verdict
We hope you our IC Markets review helpful! In our opinion, IC Markets is a reliable broker and excellent service provider. We were impressed by the broker’s competitive trading accounts, high-quality education resources, and fantastic customer service. As such, we think it’s a great choice for both new and experienced traders in Africa.
IC Markets Forex Broker FAQ
Yes, IC Markets is a good broker with excellent online trading conditions. It is for investors who want to run automated trading strategies on MT4, MT5, and cTrader platforms. IC Markets provides social copy trading platforms and a growing selection of research and educational materials and offers competitive pricing. They continue to develop new products that will improve your experience as an investor – from the simple tools you need to get started trading right away to more advanced strategies that allow you to automate your trades.
If you are wondering whether IC markets is a legit broker, the answer is straightforward! IC Markets has been around for a long time. It’s been around since 2007 and is one of the most popular brokers in the industry today. It has a great reputation for being both reliable and trustworthy. In addition to this, it’s licensed by the ASIC, meaning it meets all of their minimum standards. This makes it one of the safest brokers to use when trading today!
IC Markets is a safe forex broker. IC Markets is a regulated forex broker. They are regulated by ASIC, the Australian Securities and Investment Commission, and follow all the required regulatory guidelines. The company has an Australian Financial Services Licence (AFSL) to carry on a financial services business in Australia, limited to the financial services covered by its AFSL.
Yes, IC Markets is an ECN Broker. ECN brokers are a type of broker that you can use to trade Forex and CFDs. These brokers typically offer the lowest spreads because they don’t have to deal with the full range of customer orders that traditional brokers do. They also allow African traders to place their trades directly with the broker instead of through another intermediary.
Cent accounts are for African traders who have just started their trading journey and don’t know where to start. You can usually open a cent account with as little as $1 and start trading immediately! Unfortunately, IC markets does not currently offer a cent account.
Micro accounts are for African traders who may not yet be ready for a full-fledged live account but still want some access to the markets while they learn how they work. It is a low-risk, low-cost way to get started trading. Unfortunately, IC markets does not currently offer a micro account.
IC Markets live account is a great way to start trading with IC Markets, as it provides access to all of the features of a full-blown account. The best thing about this type of account is that it gives you access to the markets, live customer support, and real-time updates.
IC Markets does not currently offer any forex bonuses. However, many forex brokers update their promotional offers on a regular basis. You can still check their website in the future to see if there is a new IC Markets No Deposit bonus, or a new IC Markets welcome bonus.
Yes, IC Markets in Africa does have NASDAQ. The broker offers trading in all major US and global indices and markets, including the Dow Jones Industrial Average (DJIA), S&P 500, Nasdaq 100, Euro Stoxx 50, and FTSE 100.
Yes, IC Markets allows you to hedge your trades. The company offers various cross-currency trading services, including spot and forwards. You can also set up a short or long position in your chosen currency.
As part of our IC Market broker review, we checked their standard funding methods. The IC Market minimum deposits are quite low. There are several IC Markets deposit methods. You can choose from several traditional providers, such as bank transfers, debit cards, and credit cards. You can also choose from third-party payment providers such as Skrill, PayPal, Poli Neteller, BPAY, UnionPay, and FasaPay.
As part of our IC Market broker review, we also checked their Bitcoin payment options. IC Market does accept bitcoin (BTC) deposits. You can deposit funds into ICMarkets from your Bitcoin wallet or any other digital wallet that supports Bitcoin. This includes sites like Coinbase, Xapo, and BitPay. IC Market accepts deposits using Bitcoin.
IC Markets is one of the best African forex brokers. They have great trading accounts with low minimum deposits and low trading costs. They also have a wide range of trading instruments, trading platforms, and trading tools. However, if you want to look at alternative options, there are many other great forex brokers as well. We suggest looking at HotForex, Exinity, and FXPro.