IC MARKETS REVIEW - KNOW BASICS
IC Markets Broker is considered as the “gem” of the trading market because of many good reasons.
The Company was founded in 2007 and received its licenses from the (AFSL) Australian Financial Services Licenses and (ASIC) Australian Securities and Investment Commission back in 2009. No doubt, IC Markets Broker is one of the prestigious platforms for trading that you ever come across.
"They are dealing with Meta Quotes Software Corporation,
MetaTrader 4 and 5, and C Traders platform as well"
So that’s enough of the introduction, right? Let’s get started with the “Account Types, Regulations, and Trading Platforms” of IC Markets.
Here we go!
#IC MARKETS BROKER REGULATION
Before you get started with the biggest giant, it’s important to know the regulations of the Company. Yes, the IC Market is regulated by (FSA) Financial Services Authority of Seychelles. This means you can trade with the IC Markets without any problem because they are being “Watched and Analyzed” by the best regulatory body in the world.
No then, you must be wondering about the account type of IC Markets Broker, right? Let’s break them down and talk briefly.
#ACCOUNT TYPES OF IC MARKETS BROKER
There are three types of account types that IC Markets Broker is dealing with:
- Standard Account
- Raw Spread Account
- cTrader Raw Account
- It is specially designed for the beginners
- You’ll enjoy the Meta Traders 4 platform for the trading purposes
- There are large spreads, and you’ll have to pay no commission at all
RAW SPREAD ACCOUNT
- This account is specially made for the professionals
- You can use the MetaTrader 4 platform for the “Forex Trading Purposes.”
- There will be a low spread, but you’ll have to pay $3.50 per lot commission
- MLQ4 programming language is used for this account
CTRADER RAW ACCOUNT
- If you’re expert of the Forex trading, then this account is for you
- You’ll have cTrader Forex Trading Platform
- The spread is low, and you should have to pay $3 per lot commission
- They are using the C# language for this account
So, these are the account types that IC Markets Broker is providing to you, and you can choose one “According” to your requirements, needs, and wants.
It’s time to discuss the “trading platforms” that this broker is dealing with:
#TRADING PLATFORMS OF IC MARKETS BROKER
They are dealing with three platforms for trading:
- Meta Trader 4 (Web and Mobile Devices)
- Meta Trader 5 (Web and Mobile Devices)
- cTrader Platform
- It is the most popular and amazing platform for beginners
- Interface and management system are easy to handle
- Experts and Advisors are available for the scalping traders
- It has built-in functions to “Automate” the trading
- It has Forex VPS (Virtual Private Hosting Service) to maximize the executions
- With the free trading robots, you’ve got the permission to reach MQL5 Community
- It has so many charting options, and you can customize everything from your android phones as well
- You have the authority to enjoy the direct access to liquidity pools
- You can also have a “Back-Testing” facility where you can test things on the basis of “Past Market Data.”
TRADING PLATFORM PROS AND CONS
No-two steps verification
Customization (For Charts and Workspace)
Confirmation of the order
No price alerts
IMPORTANT THINGS OF IC MARKETS
As we are done with the basics of “IC Markets Broker,” it’s time to discuss the important and in-depth details.
Let’s enlighten our audience!
#SPREAD OF “IC MARKETS BROKER”
IC Markets accounts are considered as one the best in the world when it comes to providing “Best Value” for your money. Here’s what the spread of “IC Markets Broker” is based on:
- The average spread is very low for all the accounts when compared with other brokers
- The commission lot is competitive ($3 per lot)
- They won’t charge you for any deposit or withdrawal
That’s why the spread of this “Company” is considered one of the best in the world.
Now, let’s move to the execution time of the “IC Market” and let us know about this topic:
There are basically two types of executions that “every broker” works with:
- Instant Execution
- Market Execution
Instant Execution: Unfortunately, you won’t be able to enjoy the Instant Execution with IC Markets because they don’t offer it. You can have the market execution and if you don’t know what market execution is, then here’s the definition:
Market Execution: In Forex Trading, the market execution, the client only specifies the volume only while placing the order. The asking price of your asset is generated during the process of execution, and you don’t have to deal with any kind of loss if the value of the asset changes during the execution process.
#COMMISSION AND FEE OF IC MARKETS BROKER
There are around ten currencies that “IC Markets Broker” is offering to you, and your commission and fee shall be decided upon selecting the specific currency pair for your trading.
If you want to open the AUD Base account then you need to look at the graph given below:
You should keep one thing in your mind, and that is, “If you want to enjoy no interest fees, then they have an Islamic account too. You can have the Islamic account on the cTrader account type.
FEES PROS AND CONS
Low Trading Fee
High Financing Rate for CFDs
Low Non-Trading Fee
Low Forex Fee
#LEVERAGE/MARGINS OF “IC MARKETS BROKER”
There are different leverage and margins for every account type, and they haven’t mentioned them anywhere, but there’s still good news. We have extracted the “Formula” for calculating the Leverage/Margins of IC Markets Broker:
Margin = trade size/account leverage
The customer service of “IC Markets Broker” is extremely great, and they are available to help you 24/7. You can send them an email, call (+61 (0)2 8014 4280) or live to chat with them to get your queries done.
Additionally, they have a help page where you can get “Different answers to different questions” related to your problem.
Are you satisfied with the above-given information regarding IC Markets? It’s time to open the account and get started with Forex trading.