IC Markets Review 2024 | Is IC Markets a Scam or Legit Forex Broker?

Item: IC Markets
Rating: 4
Author: George Milios

Read our IC Markets review to find out if IC Markets is a scam or a reliable forex broker. Unbiased Forex brokers reviews that serve the interests of our users.

IC Markets Review and Analysis

Overview

IC Markets Review International Capital Markets, known as IC Markets, is a regulated ECN broker headquartered in Australia, offering more than 236 tradable assets across Forex, Stocks, Indices, Commodities, Cryptocurrencies, Bonds and Futures on three different trading platforms.

Investor Protection & Regulations

IC Markets offers regulatory oversight from the Australian Securities and Investments Commission (ASIC) and the Seychelles Financial Services Authority (SFSA), as well as transparency on their auditing, insurance and banking relationships. On the flip side, it does not provide investor protection and negative balance protection.

Tradeable Products

At IC Markets, clients can trade more than 236 Forex, CFD and Futures markets across 60 Currency pairs, 120+ Shares, 17 Indices, 4 Futures, 19+ Commodities, 6+ Bonds and 10 Cryptocurrencies.

Fees and Commissions

IC Markets fees and commissions IC Markets has low trading and non-trading fees.

Trading Platform

IC Markets trading platform IC Markets offers an impressive suite of trading platforms for Web and Desktop including cTrader, cTrader Web, cTrader Algo, MetaTrader 4, MetaTrader 5, MetaTrader Web and MetaTrader 4 and 5 for Mac.IC Markets offers browser-based mobile trading as well as iOS and Android trading apps for both the MetaTrader and cTrader platforms.

Account Types

The account opening at IC Markets is user-friendly and fully digital. It was also very fast, it took only 1 day until our account was approved.

Deposit and withdrawal

IC Markets Deposit and Withdrawal IC Markets does great at deposit and withdrawal. There are no fees for deposit and withdrawal. You can also use a lot of options for transferring money. IC Markets offers over 15 funding options in 10 different base currencies using the likes of credit and debit cards, PayPal, Neteller, Skrill, Union Pay, Bpay, FasaPay and many more.

Usability

IC Markets offers a suite of trading platforms, accounts and services that offer unique advantages to both beginner and advanced traders.

Customer Support

IC Markets customer support IC Markets offers 24 hours a day, 7 days a week multi-lingual Live Chat support as well as through email and phone. On the flip side, live chat can be improved.

Education and Research

IC Markets offers a wide range of educational resources such as a Forex Trading 101 and Technical Analysis 101 section, as well as videos and much more.

Overall Conclusion – Final Thoughts

IC Markets provides a competitive and unique offering across a wide range of asset classes that are suitable for both beginner and advanced traders, with more offerings suited to the advanced high-volume and automated trader. Its fees are very low and the account opening is fast and easy. The deposit and withdrawal are free and user-friendly. On the other hand, IC Markets offers only forex, CFD and crypto trading. It does not provide any investor and negative balance protection.

IC MARKETS Social proof

IC MARKETS Social proof is the reviews, testimonials, and social shares that customers provide about IC MARKETS that help lead others to make any purchase decisions. Last Updated Date: 21/08/2024
Channel	IC Markets Social proof
Instagram	Account with 16k followers
Facebook	Account with 402k followers
Twitter	Account with 11.4k followers
Youtube	Account with 13.2k subscribers and 656 uploaded videos
Telegram	Account with 4.8k followers
Discord	Does not have a Discord channel

Traders comments and Reviews about IC MARKETS

Sites like Trustpilot provide excellent third-party social proof. Please be aware that there is no guarantee whether or not fake reviews are or are not present. These can lead to bias and compromise the reliability of reviews.
TrustPilot	IC Markets TrustPilot Customer Reviews, Feedback and Complaints
Trustpilot	On Trustpilot, IC Markets has currently 37.8k number of reviews with a TrustScore (the overall measurement of reviewer satisfaction) of 4.80/5.00. Reviewers embracing IC Markets most frequently mention Great customer support, and Easy to use and low spreads. IC Markets also has a fast and reliable support team that will provide you with all the necessary information you require from them or if you are unsure of anything. IC Markets firm's reply behavior to negative reviews is up to the standard having replied to 97% negative reviews with a response time to their negative reviews in less than 7 days.

IC Markets Read TrustPilot Customer Reviews, Feedback and Complaints

Real Benefits according to the Positive Users' Reviews

Great customer support
Easy to use and low spreads

Main Complains according to the Users' Reviews

Slippage and blocking withdrawal

Great customer service, had troubles with my withdrawal and he helped me quick and easily to get it approved.

TrustPilot Reviews' Key takeaway

Broker's Features	IC MARKETS Availability
Commissions	✔
Hedging	✔
PAMM	✔
Scalping	✔
Accepts US traders	❌
24 hour trading	✔
Swaps	❌
Demo account	✔
Daily analysis	❌
Automated trading	❌
Mobile trading	✔
Trading by phone	✔
1st deposit bonus	❌
Forex contests competitions	❌
Bonuses Promotions	✔
Interest charges on the balance	❌
Free education	✔
Expert advisors	❌
Partnership programs	✔
Trust management	❌
24 hour support	✔

Latest News

IC Markets Gets Hit Again with €50K Fine from CySEC after €200K Penalty

IC Markets (EU) Ltd has been fined €50,000 by the Cyprus Securities and Exchange Commission (CySEC) for breaches related to client order execution and cost transparency. This follows a previous €200,000 penalty for exceeding the EU’s 30:1 leverage limit. The latest fine includes €30,000 for not ensuring optimal outcomes in order execution, €10,000 for failing to implement effective measures for compliance, and another €10,000 for not providing ... [show/hide]

clear cost information to clients. These violations were addressed during a CySEC board meeting on July 1, 2024.

Wednesday 04 September, 2024

New GM Steps Up at IC Markets

IC Markets has appointed Ben Singleton as General Manager. Singleton, with over 20 years of financial industry experience, will be based in Sydney. He previously worked at Crédit Agricole CIB in Hong Kong for 17 years and held positions at Bank of America and Commonwealth Bank. Singleton holds a Bachelor of Business in Finance and Economics from the University of Technology Sydney. IC Markets is expanding globally, and it recently obtained a regulatory ... [show/hide]

license from Kenya's Capital Markets Authority.

Thursday 01 August, 2024

CySEC Fines IC Markets €200,000 for Leverage Violations

IC Markets (EU) allegedly offered up to 1000:1 leverage by onboarding traders under offshore entities, exceeding the EU's 30:1 leverage limit. In response, CySEC fined IC Markets €200,000, emphasizing the need to halt non-compliant operations to protect investors. IC Markets denies the allegations and plans to appeal. The company claims the decision was based on biased information from a former employee terminated for misconduct and accuses CySEC of ... [show/hide]

ignoring audited evidence and acting on speculation. IC Markets questions the fairness and integrity of CySEC's regulatory process.

Friday 19 July, 2024

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People Also Asked

Is IC Markets regulated?

Yes, IC Markets is regulated by top-tier regulators, ASIC, CySec, FSA inclusive.

Where is IC Markets based?

IC Markets is based in Australia

How does IC Markets make money?

IC Markets charges a spread between the bid price and ask price. In some instances it also charges a commission.

How do I deposit in IC Markets account?

With IC Markets you can deposit money via the following means; Credit Card, Moneybookers, Neteller, PayPal, Skrill, Wire.

How do I withdrawal in IC Markets account?

IC Markets lets you request a withdrawal of funds from your account via the following means; Credit Card, Neteller, PayPal, Webmoney, Wire Tran.

What is the minimum deposit for IC Markets?

IC Markets has $200 minimum deposit.

What are the available account base currencies with IC Markets?

IC Markets trading accounts are offered in AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHF. If your country's currency isn't included in the list, you will need to open an account with another currency base.

What is the max leverage in IC Markets?

IC Markets has a maximum leverage is 1:500 for professional traders.

Does IC Markets use MetaTrader?

IC Markets platforms: Yes, IC Markets use MetaTrader as well as the following platforms: MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader

What type of broker is IC Markets?

IC Markets appears to be a ECN, STP broker which offers market access to a variety of traders.

Does IC Markets accept US clients?

No, IC Markets does not accept US clients

Does IC Markets offers Islamic accounts?

Yes, IC Markets offers Islamic accounts

What financial instruments can I trade?

You can trade a wide variety of instruments with IC Markets: You can trade a wide variety of instruments with IC Markets: Currencies, Commodities, Indices, Stocks, Bonds, Cryptocurrency, Futures

By trading with securities you are taking a high degree of risk. You can lose all of your invested money. You should start trading only if you are aware of this risk. All the opinions expressed on our site by individual author is solely their own and does necessarily represent or correspond to the views of the site’s management. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services.

IC Markets

3.5 / 5

Rating breakdown

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