IC Markets Review 2020 - Pros and Cons Revealed

IC Markets Review 2020 - Pros and Cons Revealed

IC Markets is Australian no dealing desk broker which is found in Sidney 2007. The company name is International Capital Markets Pty Ltd it has an Australian Financial Services license and is regulated by ASIC.

Account:

There are 3 types of accounts: Metatrader standard, Metatrader ECN, and C-Trader ECN. The standard account has an average spread of 1.1 on EURUSD, but the ECN has 0.1 spread with 3.5$ commission in both directions which is lower than the standard account.

A big plus is that the minimum deposit is as low as 200$, and traders can open a micro-lots account to be able to accomplish much better money management with smaller capital.

The broker offers swap-free accounts for clients with Islamic beliefs.
The broker offers a maximum leverage of 1:500 which is one of the highest in the forex market. Such high leverage is considered to be very risky, but on the other hand, this gives the trader the ability to choose how to use it.
The accepted currencies to open account are USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, CAD.

Instruments :

The broker supports over 60 forex pairs, 17 indices from across the globe, over 19 commodities, 120+ stocks from ASX, Nasdaq and NYSE, 6 bonds.

From the cryptocurrencies, it supports: BTCUSD, BCHUSD, ETHUSD, DSHUSD, LTCUSD, XRPUSD, EOSUSD, EMCUSD, NMCUSD, PPCUSD

Forex Spreads:

SymbolStandardStandard Raw Spread Raw Spread
MinAvg Min Avg
EURUSD0.00.111.1
GBPUSD0.00.41.01.4
USDJPY0.00.21.01.2

Commodities:

Symbol Min Avg
BRENT 0.030 0.050
Coffee 0.300 0.900
Corn 0.600 1.250
Soybean 1.350 1.770
Sugar 0.040 0.060
Wheat 0.700 1.270
Cocoa 4.000 5.000
WTI 0.040 0.050

Indices

Symbol Min Avg
AUS200 0.950 1.120
CHINA50 3.500 4.110
DE30 0.950 1.000
ES35 4.200 4.400
US30 2.300 2.500
US500 0.600 0.600
UK100 1.000 1.000
JP225 6.000 8.000

Cryptocurrency CFD

Symbol Min Avg
BTCUSD 5.000 10.000
BCHUSD 5.000 6.000
ETHUSD 4.000 4.500
LTCUSD 3.000 3.500
DSHUSD 4.000 5.000
XRPUSD 0.015 0.016
EOSUSD 0.160 0.160
EMCUSD 0.270 0.270

Trading platforms :

For the windows desktop traders, they offer MetaTrader 4, MetaTrader 5, MT WebTrader, cTrader, cTrader Web and cTrader cAlgo.

For the rest devices and operating systems they have: MT iPhone/iPad, MetaTrader WebTrader, MetaTrader Android, MetaTrader Mac, cTrader, cTrader Web, cTrader, Phone/iPad,cTrader Android.

Ctrader Full 1

The broker doesn't have own platform but they cover all the essential environments that the trader will need. There are several options for automated trading - MT4, MT5, and the cTrader Algo.

Metatrader 3

The MetaTrader platform is one of the most popular forex trading platforms and it comes with many advantages. One of them is the big trader's community at the websites like mql5.com where you can find many resources like indicators, scripts or expert advisors that can help your trading. Of course, you can program your own, create quality backtests and automate your trading. You can take advantage of the social trading in the signals section, where the traders meet the investors. If you decide to use an automated element in your trading, you can also take advantage of the integrated VPS and make your expert run 24/7.

The PAMM accounts are also a good option for beginners.

Conclusion :

IC Markets is a regulated and reliable broker that covers all the client needs for successful forex trading and offers to the clients competitive trading conditions.

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