IC Markets Information
IC Markets Global is an Australian online forex and CFD broker that provides traders access to the global financial markets. The company was founded in 2007 and is regulated by ASIC in Australia, CySEC in Cryprus and FSA in Seychelles. IC Markets offers 2,250+ CFDs on 61 currency pairs, 24 commodities, 2,100+ stocks, 25 indexes, 9 bonds, 21 cryptocurrencies, and 4 futures via the advanced trading platforms such as MetaTrader 4, MetaTrader 5, cTrader, and TradingView. The company also offers 24/7 customer support and a variety of educational resources for traders of all levels.
Is IC Market Legit?
IC Markets Global maintains regulatory compliance in both Australia and Cyprus, adhering to the respective financial regulatory standards in these jurisdictions. Regulatory oversight by Australia Securities & Investment Commission (ASIC) and Cyprus Securities and Exchange Commission (CYSEC) contribute to a safer trading environment for clients.
IC Markets' Australian entity, INTERNATIONAL CAPITAL MARKETS PTY. LTD., regulated by ASIC under license number 335692, holding a license for Market Making (MM).
IC Markets' enropean entity, IC Markets (EU) Ltd, regulated by CYSEC under regulatory number 362/18, holding a license for Maket Making ( MM) as well.
IC Markets Global is operated by Raw Trading Ltd and holds a Derivatives Trading License (No. SD018) issued by the Seychelles Financial Services Authority (FSA), authorizing futures, financial derivatives, securities, bond, options, and other financial product trading.
Market Instruments
IC Markets Global offers a wide range of over 2250 tradable instruments to trade, including CFDs on 61 currency pairs, 24 commodities, 2,100+ stocks, 25 indexes, 9 bonds, 21 cryptocurrencies, and 4 futures. This provides traders with the opportunity to diversify their investment portfolio and access multiple markets and assets.
Minimum Deposit
IC Markets Global requires a minimum deposit of $200 for traders to open an account. In the industry, many established brokers frequently impose minimum deposit requirements that surpass $500 or even reach $1,000. In contrast, certain major players such as Avatrade and Aixonly mandate minimum deposits of $100 and $0, respectively. So, IC Markets's minimum deposit requirement seems to be in the “middle”.
Here is the comparison of IC Markets Global minimum deposit with Avatrade, Exness, and Axi:
Account Type/Fees
IC Markets Global offers several account types, including
Raw Pro+, Raw Pro, Raw Spread, and cTrader accounts. Spreads start from
0.0 pips across all accounts. The
Raw Spread account requires
no minimum deposit and charges
$3.5 per lot per side, while the
Raw Pro account requires a
$5,000 minimum deposit with a commission of
$1.5 per lot per side. The
Raw Pro+ account, designed for high-volume traders, requires a
$100,000 minimum deposit with
$1 per lot per side. The
cTrader account also requires
no minimum deposit and charges
$3 per $100,000 traded.
Demo Account
IC Markets Global offers a free advanced demo account for beginner traders to practice on, which lasts for 30 days.
Users who open a demo account can enjoy the following features:
- Access to Raw Pricing
- Spreads Starting at 0.0 pips
- Fast Order Execution
- Available on MT4, MT5 and cTrader platforms
However, demo accounts aim to mimic real markets but function in a simulated environment. This means there are significant differences compared to real accounts, including not relying on real-time market liquidity, encountering price delays, and having access to certain products that may not be tradable on live accounts.
Opening a demo account is simple:
Step 1: Click the “Try a Free DEMO” button on the homepage of IC Markets.
Step 2: Fill in your personal info, including your country of residence, name, email, phone number to get a verification code.
Step 3: Choose to demo accounts on your preferrable trading platform, MT4, MT5, cTrader, or TradingView. Then choose your account currency, virtual funds, starting from $200 to $5,000,000, your desired leverage level.
Step 4: Log into your demo account and start trading.
Leverage
IC Markets' maximum leverage offering of up to 1:1000 can be beneficial for experienced traders who know how to manage their risks well. The high leverage can potentially magnify the profits of a successful trade, enabling traders to take advantage of larger positions in the market.
Trading Platform
IC Markets Global offers its clients a variety of trading platforms, including the popular MetaTrader4 and MetaTrader5 platforms as well as the cTrader and TradingView platforms.
The MetaTrader4 and MetaTrader5 platforms are similar and offer a range of trading tools and indicators, as well as the ability to use Expert Advisors (EAs) and automate trading strategies.
The cTrader platform, on the other hand, offers advanced charting capabilities and a variety of order types. However, it has a steeper learning curve and limited customization options compared to the MetaTrader4 and MetaTrader5 platforms.
Deposit & Withdrawal
IC Markets Global offers a variety of deposit and withdrawal options, including MasterCard, Visa, PayPal, Neteller, Skrill, UnionPay, Wire Transfer, Bpay, Broker to Broker, POLi, Thai Internet Banking, Rapidpay, Klarna, and Vietnamese Internet Banking.
IC Markets Global does not charge any fees for deposits and withdrawals. However, additional fees may occur at some banking institutions.
Withdrawal requests have a cut off time at 12:00 AEST/AEDT, and take up to 10 business days to process depending on the bank.
International bank wire transfers take up to 14 days and incur additional intermediary and/or beneficiary fees.
Credit/debit card withdrawals are processed free of charge and take 3-5 business days to reach your credit card.
Paypal/Neteller/Skrill withdrawals are processed instantly and free of charge, but must be made from the same account as the initial funds were sent from.
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M. KYPRIANOU FIDUCIARIES (CYPRUS) LTD