IC Markets Review 2024 | Is IC Markets a Scam or Legit Forex Broker?
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Is IC Markets safe? Yes IC Markets is a safe and secure broker. However, No broker is perfect, and IC Markets is no exception. While they do have a lot of pros, there are plenty of reasons why you might be looking for an alternative to IC Markets. So which brokers are better than IC Markets? Want to jump straight to the answer?

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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 ReviewInternational 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 commissionsIC Markets has low trading and non-trading fees.

Trading Platform

IC Markets trading platformIC 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 WithdrawalIC 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 supportIC 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.

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 default news image
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 ... 

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

Friday 19 July, 2024

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

Are you Satisfied with what They Offer?