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IC Markets Review: Is this broker legit, safe and trustworthy for Indians?

Review: IC Markets is a top-tier broker for serious Forex traders, and it is regulated by financial regulators such as the Cyprus Securities and Exchange Commission, the Australian Securities and Investments Commission, the Securities and Futures Commission of Australia, and the Financial Services Authority of Seychelles.

Review: The services and products are mostly targeted at expert traders, but there is a great deal of help and valuable tools for new traders as well.

Review: More than 1,700+ financial CFD products are available to trade, including FX, equities, indices, cryptocurrencies, and commodities.

In the event that you're seeking for a broker that charges cheap trading costs, IC Markets may be the right choice for you.

According to our live tests, the broker offers competitive spreads and commissions.

There are three trading platforms available, all of which are intended primarily for professional investors.

Beginner traders, on the other hand, may trade via the simple to use mobile trading app.

Get started with IC Markets

This IC Markets Review focuses on the services provided by www.icmarkets.com/global, which is administered by Raw Trading Ltd, which is a company authorized by the Financial Services Authority (FSA) of the Seychelles, and is conducted utilizing the Standard Account of the MetaTrader desktop platform.

Review: In order to analyze IC Markets, we divided them into nine categories. The broker received good marks in a number of categories, including ease of opening an account and competitive trading costs that were better than the industry average, among others.

Review: In the Platform and Tools area, one of the lowest ratings was achieved, however this was solely due to the fact that the three platforms available (MetaTrader 4, MetaTrader 5, and cTrader) are primarily targeted at expert traders. There are several assistance resources available for newcomers, and we found that using the mobile app was the most convenient and fastest method of placing a transaction.

Review: Beginners will like the commission-free trading account, as well as the webinars and trading training offered by the company.

Review: The broker offers a great deal of assistance to those who are just getting started in the trading world.

Review: Advanced traders will benefit from having access to a plethora of tools, products, and assistance to help them improve their trading skills. Raw spread trading accounts, the MetaTrader 4, MetaTrader 5, and cTrader platforms, as well as third-party tools like as AutoChartist, which gives real-time trading ideas, are all accessible through this service.

Review: IC Markets is a globally regulated company that offers traders a highly competitive product at a competitive price. The trading expenses, such as spreads and commissions, that we discovered during our live testing were far better than the industry standard.

Review: Everything was digital, and they provide customer service around the clock. It was a breeze to create an account with them. The broker is also quite explicit in the distinctions between creating an account with one of their global companies that are regulated in several countries and with one of their local businesses that are licensed in one country.

Review: IC Markets takes great pleasure in creating a platform that is the preferred option for high-volume traders, scalpers, and trading robots. On the basis of our study and field tests, we feel this is the case.


Review: Trading fees were extremely competitive, with a variety of accounts providing low spreads and cheap charges to attract customers.

All of the fees are also quite clear and understandable.

Three professional trading platforms are available to you, each of which is oriented at expert traders.

Review: It is also intended for beginning traders, who may take use of trading classes, market research webinars, customer assistance, and demo trading accounts to practice and perfect their trading abilities.

Review: With two worldwide companies that are controlled by Tier 1 financial authorities and two that are regulated by Tier 3 financial regulators, International Capital Markets (IC Markets) received an average score in this area. Some additional protections have been implemented by the broker, such as insurance, negative balance protection and customer accounts that are kept separate from the broker's own accounts.

Review: In addition, we discovered that the broker is quite open in its operations. All of its entities give clear information on what safeguards you have or do not have, as well as how to obtain further information. As a result, the broker is being forthright about how they will handle you as a client, which is always a comforting thing to know. They also go above and above the call of duty in terms of precautions and protections, demonstrating that they are concerned about your safety.

Review: Because IC Markets was established in 2007, they have a high level of stability. Being in business for such a long period of time and successfully navigating the changes in the financial markets since that time demonstrates that they are serious about their business and the services they give to their clientele.

Review: The extent of regulatory monitoring and investor protections provided by a broker will be determined by the location of the broker. Many brokers have relocated to offshore jurisdictions as a result of a regulatory crackdown by tier 1 authorities such as the FCA, CySEC, and ASIC, therefore it's important to conduct due research before signing on the dotted line.

Review: When evaluating the safety and trustworthiness of a broker, we check at a variety of factors. This includes the following: Separation of customer funds from corporate finances is a must. Keeping client money separate from company assets is always a good idea since you don't want your broker to use your cash to operate its own business.

Review: A insurance to safeguard against a negative balance. This implies that your account will not be able to fall into a negative balance due to unfavourable market movements.

Review: Arrangements for restitution. Is there a mechanism for obtaining compensation if a broker goes out of business through the organization or regulator?

Review: Whether or if the broker takes steps to protect the client's interests even when it is not obligated to do so This is a fantastic indicator of how seriously your broker considers your safety and well-being!

Review: Some financial authorities make it a regulatory mandate to provide some of these services, whilst other financial regulators do not.

  • IC Markets has four separate bodies throughout the world (two tier 1 regulators and two tier 3 regulators) that are regulated by different authorities: Raw Trading Ltd is a Seychelles-based company that is authorized and regulated by the Financial Services Authority (FSA), which is a tier 3 regulator.

  • ICM Pty Ltd - an Australian company that is authorized and controlled by the Australian Securities and Investments Commission (ASIC), which is the country's first tier 1 financial regulator.

  • A tier 1 regulator, the Cyprus Securities and Exchange Commission (CySEC) has authorized and regulated IC Markets (EU) Ltd, also known as IC Markets (EU).

  • IC Markets Ltd. is a tier 3 regulator that is authorized and regulated by the Securities Commission of the Bahamas (SCB).

Review: Raw Trading Ltd is the company that runs the website www.icmarkets.com/global. Despite the fact that the Financial Services Authority of Seychelles is a tier 3 financial regulator, this body has implemented additional precautions for its clients, including the following: Insurance coverage for each customer is up to $1,000,000 in value.

Maintaining customer money in tier 1 banks and keeping them separate from corporate finances.

Providing an insurance for protection against negative balances.

The provision of this service by IC Markets for accounts created under this business does not meet any regulatory requirements as it does for brokers registered by CySEC or ASIC but it is appreciated.

Raw Trading Ltd's authorisation and licencing may be verified on the Financial Services Authority's (FSA) registry.

Review: The International Capital Markets Pty Ltd company, which maintains the website www.icmarkets.com/au, is approved and regulated by the Australian Securities and Investments Commission (ASIC), which is considered a tier 1 financial regulator.

Review: Although the level of control provided by the regulator is often stronger than in offshore countries, there is no compensation mechanism in place in the event that the broker goes out of business.

Review: Client funds are stored in segregated accounts with AA-rated Australian financial institutions through this business.

It is possible to validate the approval and licencing of International Capital Markets Pty Ltd by visiting the ASIC registry.

The IC Markets (EU) Ltd firm, which administers the website www.icmarkets.com/eu, is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), which is considered a tier 1 financial regulator.

Review: A regulatory obligation for the broker with this business is to segregate client money from their own, to offer a negative balance protection policy, and to be a member of the Investor Compensation Fund, which protects customers in the case of a default.

Review: The permission and licencing of IC Markets (EU) Ltd may be verified on the CySEC registry of authorized and licensed entities.

Review: Trading fees at IC Markets are extremely competitive and far lower than the industry norm. In terms of fees, the Forex and stock fees were excellent, while the commodity costs were on par with the industry standard.

When selecting a broker, it is important to consider a range of various fees and charges.

Review: Trading fees are those connected with the purchase and sale of a financial instrument, and they include the following: Commission is the expense associated with entering and exiting a deal.

Spread - The difference in price between the purchase and sale prices.

Overnight swap charge - This is the expense of keeping a leveraged position for an extended period of time.

Conversion costs - The cost of converting your base currency into the currency of the asset you are trading, if your base currency and the currency of the asset are different.

Non-trading fees are costs that are not associated with the purchase and sale of a financial instrument, and they include the following: Fees for deposits and withdrawals (discussed further down this review)

Inactivity fees are the costs charged for opening a trading account that has had no activity in it.

Review: The commission-free Standard trading account from the FSA of Seychelles registered firm served as the basis for our live trading test to determine costs (Raw Trading Ltd).

Review: Aside from that, the overnight switch charges were in line with the industry standard. When it comes to long-term traders, this cost is critical since overnight fees may build up quickly if you are holding transactions for an extended length of time.

Review: Fees for forex, indices, and stock trading are extremely competitive with IC Markets, and they are far lower than the industry average. A one-point spread on the DAX 40 index is advertised by several brokers. IC Markets charges only 0.5 points, which means that you receive a greater proportion of the earnings in your account.

Review: The spread on the GBPJPY was likewise quite competitive, ranging between 1.2 and 1.5 pips on both sides of the trade. Some brokers might easily charge 5 pips for such a volatile currency pair, and this is a common occurrence.

This is the spread for a commission-free trading account, which is one of the most advantageous aspects of it. Even if the spreads on the broker's other account types are likely to be even smaller, there will be a commission charged for each purchase and sale.

Review: Even while the commodities trading fees were remained competitive, they were only slightly more than the industry average. The stock costs were also unexpected, given that there is no commission to pay when buying and selling stocks, as there is with many other brokerage firms.

Review: Some brokers charge an inactivity fee on trading accounts if there is no action on your account for a specified period of time, such as no purchases or sales of an instrument, no deposits or withdrawals, or no deposits or withdrawals.

There are no inactivity fees associated with IC Markets.

Review: A severe learning curve is required to trade on any of IC Markets' three professional trading platforms, which are: MetaTrader 4, MetaTrader 5, and cTrader. MetaTrader 4 and MetaTrader 5 are the most popular systems, with a steep learning curve. The mobile app is the most convenient, straightforward, and time-efficient method of trading.

Review: The platforms and resources made available by IC Markets are primarily intended for sophisticated and professional traders and investors. Trading platforms such as the MetaTrader 4, MetaTrader 5, and cTrader are loaded with capabilities for technical analysis, algorithmic trading (including indicator customization), and social trading in addition to add-ons such as AutoChartist plugins for real-time trading ideas.

Review: In addition to straight through processing (STP), IC Markets now gives access to electronic communications network (ECN) transactions. This implies that orders are sent directly to the market, ensuring that you receive the greatest data and fills possible.

In which trading platforms may both novice and experienced traders find success?

Review: The MetaTrader suite of trading platforms is widely regarded as the most widely used trading platform in the world, according to industry experts. Many Forex and CFD firms provide their clients with access to these platforms. cTrader, on the other hand, is a worldwide recognized platform that is primarily oriented for professional, short-term, and algorithmic traders, among others.

Review: Despite the fact that there will be a learning curve for new traders on these platforms, it will be well worth it because there are several features accessible. However, if you're searching for a quick and simple way to purchase and sell, the mobile app is the most convenient option because it is the fastest.

Review: The IC Markets MT4, MT5, and cTrader desktop and online platforms, as well as the IC Markets mobile applications, are designed for professional traders. For beginners, the online platform will be the most straightforward to use, but there will still be a learning curve.

For this test, we used the MT5 desktop platform for Windows, which we acquired from the internet. It is an enhanced version of the MT4 trading platform that includes a slew of features built specifically for professional traders.

  • There are several advanced tools available for expert traders.

  • Excellent for technical analysis as well as algorithmic trading applications.

  • On the desktop, there is a high amount of personalization; however, this is limited on the web.

  • For newcomers, there is a learning curve, but it becomes second nature after a while.

Review: As soon as you log into your broker's desktop or web interface, you will be presented with a chart to analyze. It is only possible to view one chart on the online platform, however you can have numerous charts open at the same time on the desktop platform.

Review: Finding your instrument on the chart is not as straightforward as it appears. Search for it in the market watch window, and then drag it into the chart to complete the process. However, the charts on MT5 are clear, and you can choose from 21 different timeframes and 38 distinct technical indicators to trade with.

Review: Live market trades allow you to access the market at the current price by placing transactions at the current time. You may also place pending trades, which will allow you to enter the market at a certain price level that you specify in the order ticket that you create.

Review: Orders with an expiration date are also available, which allows you to better control your total risk in the market and avoid opening a transaction at an inconvenient moment. On the desktop interface, you may also configure alerts; however, this is not possible on the online platform.

Review: The learning curve for both the MetaTrader 5 desktop and online interfaces is rather short. Because there is no need to download anything, the MetaTrader 5 online platform is the most convenient way to trade. On the left-hand side of the screen, you can see the chart and access several indicators and periods.

Review: Due to the large number of customization options available on the desktop platform that are not available on the online platform, it will take some time to become accustomed to. Example: The desktop platform allows you to have numerous charts open simultaneously, each of which may be resized to whatever size you choose. This is not possible on the web-based platform.

Review: Beginners will appreciate the ease of use of the web-based trading platform. Trading tools such as algorithmic trading and customisable indicators will appeal to advanced traders due to the amount of customization offered and the increased number of trading tools they may access.

Review: The MetaTrader desktop platforms also provide you access to the MetaTrader Marketplace, where you may obtain algorithmic trading techniques and create custom indicators to use in your trading strategies.

Review: Furthermore, IC Markets offers an AutoChartist plugin for MetaTrader, which is a free addition to the platform. A trading idea generator is an external instrument that searches the market for trading opportunities and presents you with real-time trading suggestions.

Review: For the purposes of this live test, we employed the MetaTrader 4 mobile trading application. We find it to be the most straightforward and fastest option for newbies to trade, thanks to its straightforward design and navigation.

Review: It is possible to manage your account, check your positions, and place live trades using the MetaTrader 4 mobile trading app, which is available for both Android and iOS devices. The download procedure was simple, and it is an excellent method for new traders to get their feet wet in the trading world.

Review: You can get the mobile app for Android and iOS devices by clicking here. In our testing, we used the MetaTrader 4 mobile application, which is available for download from the Google Play Store and the Apple App Store and is compatible with both Android and iOS operating systems.

Review: There are many icons at the bottom of the MT4 mobile app that allow you to access real-time quotes, charts, position history, and settings. Viewing the chart is straightforward and may be accomplished by selecting the market of your choosing from the drop-down menu.

Review: You can use the mobile app to place pending transactions or to access the market while it is active. Unfortunately, you are unable to specify expiration dates or create alerts.

Review: The mobile application is the quickest and most convenient platform to learn on. The download is straightforward, and the navigation is straightforward. Everything is organized out in a straightforward and logical manner, allowing you to easily browse between many basic categories, which include Quotes, Chart, Trade, History, and Settings, among others.

Review: The Quotes icon allows you to view real-time price quotes for the instruments that are currently accessible for trading. In this area, you may establish watchlists and add instruments to your list, as well as see information about an instrument, such as its opening hours.

Review: When you click on an instrument, you will be presented with a number of alternatives, including Chart and Trade. You'll be taken to a live chart of the instrument if you click on Chart.

Review: It is simple to observe multiple periods as well as do technical analysis with the help of drawing tools and technical indicators from this location.

The learning curve for the mobile app is minimal, making it an excellent location to begin trading.

The majority of the extra trading capabilities are available on the desktop trading platform only. To place trades and maintain positions, the mobile app is a convenient and user-friendly tool.

Review: Trade forex, stocks, indices, commodities, bonds, and cryptocurrencies with IC Markets, which offers more than 1,700+ financial CFD instruments spanning all major asset classes including forex, stocks, indices, commodities, bonds, and cryptocurrencies.

Review: The number of instruments accessible for trading is more than the norm for the industry. In the forex market, majors, minors, and exotic currencies are traded, whereas commodities are traded in the form of metals, energy, and softs.

It is only available for stocks listed on the Australian Stock Exchange (ASX), the New York Stock Exchange (NYSE), and the Nasdaq Stock Market (NASDAQ), and does not include stocks listed on European stock exchanges.

Review: Trading in CFDs (Contracts for Difference), also known as Contracts for Difference, is a derivative product that allows you to bet on the price direction of a financial instrument, allowing you to profit from both rising and falling markets. In addition, you may trade on margin, which allows you to manage a huge position with a modest initial investment, magnifying both your gains and your losses.

This is a fantastic service that covers all of the major markets and all of the different asset types in one package. Bonds are not offered by many retail brokers since they are not extensively traded by regular traders, but rather by professional traders.

Review: IC Markets provides a very broad range of tradable instruments, with a total number of instruments available that is significantly higher than the industry average.

Review: IC Markets provides excellent live chat customer service with educated representatives around the clock. On two consecutive times, however, we were unable to make contact with the telephone number supplied.

Review: You may get in touch with customer service in a number of different languages, including English, Chinese, Indonesian, Italian, Spanish, Portuguese, Thai, and Vietnamese, among others.

Review: What is the significance of customer service? Whether you want assistance with your trading platform, have a query about a trade execution, or require assistance with any administrative difficulties, you want to know that you can contact your broker as quickly as possible and whenever you want!

Review: Customer service is available 24 hours a day, seven days a week through the live chat function and telephone number listed on the broker's website and in the client portal section.

First, we dialed the toll-free number listed on the website's contact page in our live customer care test. We attempted to connect on two other instances over the week, but were unsuccessful.

Review: Our experience with the live chat service was far better. Your initial point of contact will be with a customer service bot, which will give you with links to articles that are relevant to the topic you have submitted.

Review: Because you may deposit and withdraw cash without incurring any commissions, IC Markets performed quite well in this sector, earning the highest number of points. There is also a wide variety of payment options available, including bank wire, credit/debit cards, PayPal, Neteller, Skrill, and several more e-wallets.

Review: You may also deposit funds in a variety of currencies, including the Australian dollar, the United States dollar, the Japanese yen, the euro, the New Zealand dollar, the British pound, the Canadian dollar, the Hong Kong dollar, the Swiss franc, and the renminbi.

With IC Markets, you may deposit cash promptly and without incurring any fees by utilizing a choice of different methods.

Review: With the exception of foreign bank wire transfers, you can withdraw your funds from IC Markets without incurring any fees. These are subject to a processing charge of 20 AUD or the equivalent in another currency, which is taken from the amount of the withdrawal.

Review: Withdrawals are handled on the same day if they are received before 12:00 AEST/AEDT (Australian Eastern Daylight Time). Withdrawals made using a credit or debit card will take 3 5 days to reach your bank account.

Review: PayPal, Neteller, and Skrill withdrawals may only be made from the same account from which the money were originally sent, and they are processed quickly.

Review: The IC Markets company, which is regulated by the Seychelles Financial Services Authority (FSA), has three basic account kinds. The Raw Spread cTrader, the Raw Spread MetaTrader, and the Standard Account are all examples of raw spread trading. Each one is quick and straightforward to open, and they all need a minimal minimum deposit of $200.

Review: IC Markets has a broad selection of account types for both beginning and experienced traders. There are no fees associated with the Raw Spread accounts, and spreads start at zero pips. The Standard Account is free of commissions and has spreads starting at 0.6 pips.

Review: We believe that the amount of customization to your specific requirements is excellent, and that the offering is above the industry norm. As a result, because every trader is seeking for something different, having a wide range of possibilities is advantageous.

Review: Opening an account was a quick and straightforward procedure that took us no more than 4 minutes to complete.

Review: Islamic swap-free accounts as well as a test trading account are available.

Review: There's also an opportunity to select the regulatory authority you wish to trade under.

Review: Individuals residing in the United States, Iran, North Korea, and several other countries are not eligible to use IC Markets' services.

Review: Virtually every element of your trading will be influenced by the account you open. Different accounts will frequently have different fees, tradable instruments, and trading platforms, making it critical to choose the right one for your specific requirements.

Review: The IC Markets worldwide organization, which is licensed by the Financial Services Authority of the Seychelles, provides three different account kinds that are ideal for both beginners and experienced traders.

Review: One of the most significant distinctions between the accounts is that the Raw Spread accounts have spreads starting at 0 pips, whereas the Commission-Based accounts are commission-based.

Review: When using the cTrader platform, the fee charged per lot (100,000 units of currency) and per round turn (to enter and leave) is $6, and when using the MetaTrader platform, the commission charged per lot (100,000 units of currency) and per round turn (to enter and exit) is $7.

Other organizations operating under the IC Markets umbrella might provide you with the same account types and terms. However, the most significant change will be the amount of leverage you have at your disposal.

For example, opening an account in Europe or Australia would need the broker adhering to the leverage limitations established by the respective regulatory bodies (CySEC and ASIC).

This implies that while you may open the same account with access to the same fees and spreads, retail traders will only be able to leverage their accounts up to a limit of 30:1 with CySEC and ASIC authorized accounts.

Review: The use of leverage in CFD trading enables you to build a huge position with a little initial investment. In the case of trading leverage, a 30:1 ratio indicates that you may have a $30,000 exposure with only a $1,000 investment. An exposure of $500,000 with only a $1,000 investment is possible when trading with a 500:1 trading leverage (see chart below).

However, leverage may be a double-edged sword. It has the potential to magnify both your successful and failing transactions. This is one of the reasons that regulators like as the CySEC, the ASIC, and the FCA have reduced the amount of leverage that brokers may give retail traders in order to make it safer for new traders.

Because the IC Markets worldwide company (Raw Trading Ltd) is regulated offshore by the Financial Services Authority of the Seychelles, they may provide higher leverage of up to 500:1.

Review: We found the procedure of creating an account with IC Markets to be quick and straightforward. To be more specific, it took less than 4 minutes to open a Standard Account. Everything is completed digitally, allowing you to be up and running in as little as a few short minutes.

Review: Here is the step-by-step procedure we followed in order to create an account with the IC Markets FSA of Seychelles licensed organization.

In order to begin, you must just provide your name, email address, and phone number into the appropriate fields.

  • Provide any more information about yourself, such as your financial situation and work experience.

  • Third, select your account setup, including the type of account you wish to open as well as the platform and base currency of your account.

  • Make a deposit and get started trading.

  • You will also be required to provide identification in order to withdraw funds, which is typical process for registered brokers. You just need to upload evidence of identification (such as a passport or driver's license) and proof of residency, which we found to be straightforward (utility bill or bank statement).

  • Uploading documents, gaining access to your trading accounts, downloading platform updates, and accessing extra services are all possible through the IC Markets client portal section. This personalized section is ideal for keeping track of all of your trading activity.

 

Review: IC Markets offers a wide variety of research services to its customers. This includes live analysis sessions, technical and fundamental analysis articles, as well as forecasts and suggestions from Trading Central and AutoChartist, and it is far higher than the industry average for this type of service.

Review: IC Markets received the highest possible score in this area because it offers a comprehensive selection of research resources. This includes live analysis sessions with their in-house analyst, as well as technical and fundamental analysis articles that are updated on a consistent basis.

Review: On the broker's website, there is a Market Analysis Blog titled Information Hub for Serious Traders that is dedicated to market analysis. This section contains a wide variety of study resources that are useful for both beginning and experienced traders.

Review: You may also receive additional research from a third-party organization, Trading Central, through the client portal section. Trading Central provides access to daily market updates, highlighted ideas, and analysis of news from social media and financial institutions. Trading Central is an investing and analytics organization that provides data, research, and tools to brokers. Trading Central was founded in 1999.

Review: You may also access a web-based version of a third-party program called AutoChartist, which is developed by a different technology and analytic organization. This tool will provide you with access to a variety of technical analysis trading ideas and possibilities in real time, assisting you in the process of identifying trade prospects.

These resources are beneficial to both beginning and experienced traders.

Review: IC Markets provides high-quality educational materials that are available for purchase. This includes trading videos, platform training videos, articles, and trading courses - all of which are appropriate for both beginning and expert traders.

Review: IC Markets received the highest possible score in this segment. Videos, courses, and articles are all available as educational resources, and they are all of excellent quality.

Review: The education pieces are well-written, and they provide extensive graphics and text explanations to further explain their points. Beginners and experienced traders alike will find a variety of information to read and study.

Review: On the broker's website, you may also find a calendar of live and forthcoming webinars that you can attend. Throughout the month, these are conducted in a variety of languages and cover a variety of topics, including Elliott Wave, Live Analysis, Using Trailing Stops, and others.

If you're searching for a broker who charges minimal commissions and offers a wide variety of trading platforms, IC Markets may be the right choice for you.

Review: While the three trading platforms are aimed toward experts, there is a great deal of assistance available to assist new traders particularly with the installation of plugins such as AutoChartist, which offers trading signals on each platform.

Review: Beginner traders will also benefit from the wide variety of high-quality research and education tools available, which include articles, videos, classes, and live market analysis, among other things.

Review: Advanced traders will appreciate the versatility of the various trading platforms, as well as the customisations that each platform offers. Additionally, access to raw spreads and cheap commissions are available.

Review: In the world of algorithmic trading and scalping, IC Markets is a top choice. It maintains cheap trading costs, high leverage, low latency connection, and greater liquidity while maintaining outstanding trading expenses. I looked into this broker to see if IC Markets lives up to their promise of offering competitive trading conditions.

  • Leverage of up to 1:500, extensive liquidity, and excellent transaction execution are all available.

  • We provide the best MT4 upgrading package, MAM/PAMM accounts, and VPS hosting on the market.

  • Excellent selection of trading platforms, including MT4/MT5, as well as cTrader and MetaTrader.

  • Support for social trading is available through Myfxbook, MetaTrader Signals, and ZuluTrade.

Review: The algorithmic trading and scalping environments provided by IC Markets allow for more than 60% of all transactions to be executed. IC Markets provides the greatest overall trading environment for algorithmic trading and scalping. With three copy trading services, it also caters to social traders, while newbie traders may take use of a high-quality instructional platform and outstanding customer care available around the clock.

A registered broker will reduce the likelihood of fraud and malpractice occurring throughout the trading process.

Review: When trading, I always advise traders to check for regulatory compliance and to confirm this with the regulator by cross-referencing the issued license with their database.

The four well-regulated subsidiaries of IC Markets are available to clients.

Review: Client deposits are kept separate from corporate money at IC Markets, which also provides negative balance protection. I prefer the trader-friendly regulatory jurisdiction of the Seychelles unit, where clients additionally receive a $1,000,000 insurance coverage in the unusual case of a failure to meet financial obligations. IC Markets has a pristine operational history spanning more than fourteen years and strives to preserve its excellent reputation in the industry.

Review: The commission-free Forex charges at IC Markets begin with markups as low as 0.6 pips or $6 each 1.0 standard lot of trading. The commission-based alternative, with raw spreads starting at 0.0 pips, is my preferred choice as a high-frequency trader. The cost for cTrader is $6 per lot, while the commission for MT4/MT5 is $7 per lot. For traders using MT4 and MT5, the price disparity reduces their profit potential by 16.67 percent. Because it is entirely at the discretion of IC Markets, it is the sole bad aspect.

Review: Equity traders are charged a 0.10 percent commission, with the exception of US-listed shares, which are charged a $0.02 per share per side commission. Swap rates for leveraged overnight positions, as well as third-party payment processor fees, are in effect for these situations. I love that IC Markets does not charge an inactivity fee, which is a nice feature.

Review: Swap rates on leveraged overnight positions are one of the most underappreciated trading expenses. In other cases, it may be the most important charge per trade, depending on the trading method employed. Every trader should double-check their fees and commissions before calculating their overall trading costs.

Review: MT4/MT5 traders may readily get swap rates from their trading platform by following the methods outlined below:

  • 1. Specification may be accessed by right-clicking on the selected symbol in the Market Watch box and selecting Specification.

  • 2. Scroll down until you see Swap Long and Swap Short on the left-hand side of the screen.

Taking a buy/sell position in the EUR/USD with the narrowest spread possible using a 1.0 standard lot.

In the EUR/USD at the tightest spread, a 1.0 standard lot buy/sell position will cost you the following: Taking a 1.0 standard lot buy/sell position at the tightest spread will cost you the following: IC Markets offers 61 currency pairings and 13 cryptocurrency pairs to traders, putting them in the middle of the pack in terms of competitiveness. It stands out for its 1,659 stock CFDs and 25 index CFDs, which provide traders with a diverse range of options. There are 22 commodity CFDs available, eleven bond CFDs available, and four bond CFDs available to round out the accessible markets. In general, IC Markets offers a diverse selection of trading products that is well-balanced.

Review: Retail leverage has been reduced to an uncompetitive 1:30 by ASIC and CySEC. As a full-time trader, this has a negative impact on my trading profits, which is unacceptable to me. The Seychelles and the Bahamas both have a maximum leverage of 1:500 on their currency.

Review: Sunday through Thursday, between 00:05 and 23:59, Friday, between 00:05 and 23:55, and Saturday, between 01:05 and 17:00. Cryptocurrency trading is also accessible on Friday, between 00:05 and 23:55. On Monday through Thursday, forex traders may make orders between 00:01 and 23:59 GMT, and on Friday, they can place orders between 00:01 and 23:57 GMT. The same holds true for commodities, with the exception that the beginning hours are 01:02. Monday through Friday, between 16:35 and 22:55, you can trade stocks in the United States. All times are in server time, and the times given above are in Coordinated Universal Time (UTC+2).

Review: The initial deposit for either option is $200, which is greater than the typical minimum deposit at other brokers, but I believe it is well worth it given the superb trading environment provided. An Islamic Account is provided, in which swap rates are maintained but fixed charges per lot are charged instead.

Review: IC Markets offers one of the most comprehensive demo accounts available. It is completely limitless, and traders may also imitate trading circumstances as closely as possible to those of actual accounts.

Review: Copy trading is available through Myfxbook Autotrade and ZuluTrade at IC Markets, and copy trading is also available through the MT4/MT5 trading platforms.

Review: After conducting an investigation, I discovered services provided by Forex VPS, Beeks FX VPS, and New York City Servers.

Review: Algorithmic traders with a monthly volume of 15 lots or more are entitled to free VPS hosting.

Review: IC Markets provides all trading platforms, including mobile applications. They continue to be an excellent choice for portfolio management and social trading on the go. Chart trading and order execution with a single tap are also accessible. The MetaTrader 4 mobile application requires Android 4.0 or above and cTrader 4.1 or higher.

Review: Another unique aspect that I like is that the daily transaction execution figures are available. This is in addition to the aggregated liquidity from 50 banks and dark pool liquidity providers. IC Markets is the largest Forex broker in the world, with more than 500,000 transactions conducted daily, 60 percent of which are generated by algorithmic trading solutions, and a daily forex volume of more than $29 billion. March 2021 saw trade volumes of $1.04 trillion on IC Markets, a new record for the company.

One drawback I'd like to point out is that API trading is only accessible for cTrader, which only affects a limited number of traders at this point.

Review: The IC Markets blog is a source of high-quality analysis and trading ideas for investors and traders. Six areas are covered, and I particularly recommend the Fundamental Analysis and the Technical Analysis sections, both of which are fantastic readings. Trading Central's WebTV service offers value to the research area of IC Markets's website.

Review: Markets International Corporation (IC Markets) provides an excellent instructional platform for beginning traders. For new traders, I recommend that they start with the video tutorials and then go on to the 10-lesson Getting Started trading course. Webinars are another wonderful service offered by IC Markets. They are hosted by seven specialists in five languages: English, Spanish, Chinese, Portuguese, and Thai. A newer generation of traders appreciates the significance of the podcasts, which are delivered by two presenters and continue to be highly popular with them.

Review: Customers can reach out to traders at any time of day or night. I recommend starting with the Help Center, since it has a wealth of information. Although the live chat tool provides quick access to a professional, I prefer calling for more urgent questions. There is also the option of requesting a callback. IC Markets does not identify other languages are available in addition to English, but it does a good job of explaining its goods and services.

Review: Even though IC Markets does not give any bonuses or promotions, I believe that the trading atmosphere is preferable than any incentives. It is seen as a bonus that does not necessitate the use of extra incentives in order to attract new customers.

Review: I consider the account opening process at IC Markets to be one of the most efficient I have ever encountered. It takes less than two minutes, and IC Markets does not interrogate you in any unnecessary ways. Trading participants can complete the first stage by logging into their Google or Facebook accounts. Account verification will continue to be required in accordance with KYC/AML regulations. New clients often meet this requirement by presenting a copy of their identification as well as one proof of residency document.

Review: In order to open any of the three account types at IC Markets, you must make a $200 deposit. It is a little higher than the average broker, but it is within a fair range still. I believe that is justified by the current trade situation.

Review: The payment options available at IC Markets include bank transfers, credit/debit cards (including PayPal), PayPal VIP, Skrill, Union Pay, BPay, FasaPay, Broker to Broker, POLi, Thai Internet Banking, Rapidpay, Klarna, and Vietnamese Internet Banking (both in Thai and Vietnamese).

Review: IC Markets has a good selection of deposit and withdrawal options, with the exception of cryptocurrencies, which are not available. A $20 bank wiring fee is charged by all brokers, and this is the only cost associated with the trading process. Charges associated with third-party payment processors apply, and IC Markets has no control over these costs.

Review: All financial transactions will be carried out by traders from the back office, which will be secure. I like that IC Markets guarantees that withdrawals are processed at the same speed as deposits. It handles any withdrawal requests submitted before 12 AEST/AEDT on the same day if they are received before noon. Except for the $20 fee for the bank wire, there are no further costs. When determining the most efficient way, traders should look at the charges of payment processors, which vary depending on where they are located.

Review: Because of the excellent trading atmosphere at IC Markets, I like my trading experience there. I consider it to be among the finest in the market because of its high liquidity, which results in raw spreads of 0.0 pips for a large number of currency pairings. With exceptional execution speed, IC Markets continues to be a fantastic choice for algorithmic trading methods, high-frequency traders, and scalpers. The Seychelles subsidiary offers traders the opportunity to trade with a maximum leverage of 1:500 for a $200 deposit in one of the most safe trading environments available. IC Markets continues to be one of the greatest all-around brokers, offering a product and service portfolio that is unmatched by most other brokerage firms.

Sites like IC Markets

Here is the list of brokers where Indians can trade Forex, Shares, CFDs, and Cryptocurrencies (Bitcoin, Ethereum):

  • Olymp Trade - Facebook, Twitter, YouTube, Twitch, Reddit, Quora and Google Search user activity suggests that this one is gaining a lot of traction
  • Quotex - Picking up steam in India in terms of popularity. Also famous in the US.
  • OctaFX - OctaFX provides an entry-level, low-cost MetaTrader platform in addition to its social copy-trading platform.
  • Binance - Great for investing in cryptocurrencies and is also an exchange platform.
  • ExpertOption - Extensive instructional materials are made available by ExpertOption to its customers.
  • 5paisa - 5paisa Capital Ltd is a publicly-traded and professionally managed firm.
  • Kotak Securities Limited. - They have shown that they are deserving of the title of well-known and well renowned full-service brokerage business.
  • RoboForex - Users from a variety of various backgrounds may be guaranteed of a flawless trading experience.
  • VantageFX - Vantage completes its MetaTrader platform suite offering with support for numerous social trading platforms.
  • Capex - It has swiftly established a reputation for itself by providing an enormous variety of complicated trading tools.
  • PocketOption - Pocket Option is one of the most reputable binary options trading platforms.
  • ThinkMarkets - Multi-regulated broker that specialises in forex and contract for difference (CFD) trading.
  • Trader's Way - Trader's Way forex brand, is approved and controlled by the CySEC (Cyprus Securities and Exchange Commission).
  • IQ Option - At the moment, this broker has more than 48 million registered users and processes more than a million transactions per day.
  • Karvy - It is one of the most well-known brokerage businesses in India, with its headquarters in Hyderabad.
  • Trading212 - It was founded in 2013 and is regulated by the Financial Conduct Authority.
  • Markets.com - An excellent choice for traders looking for a comprehensive and dependable online platform.
  • Capital.com - A multi-award-winning worldwide investment broker that originated in the United Kingdom.
  • Trade.com - A premium brand, it provides a robust infrastructure as well as cutting-edge software.
  • Sharekhan - The full-service broker was once affiliated with SSKI and was recently bought by the BNP Paribas Financial Services Group.
  • Alpari - One of the world's biggest forex brokerage firms.
  • iForex - A well-known forex and CFD broker that provides a wide range of tradable assets
  • Exness - Exness a legitimate company in terms of usability.
  • FP Markets - An Australian CFD and FX broker founded in 2005.
  • FBS -  Its brokerage platform provides access to worldwide markets.
  • XTB - This Polish broker is one of the largest publicly traded Forex and CFD brokers in the world.
  • Hugo's way - Registered in the Seychelles; it's a new player in the social trading arena.

 

 

Written by Swarna Shrivastav

Swarna ShrivastavI'm an investment banker. But I also write for, and fact-check articles published by ForexBrokers.co.in. Full Bio.

 

 

 


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