Is IC MARKETS one of the best Australian Forex Brokers? We conducted an in-depth review in December 2018 to find out the answer and bring it to you!
Established in 2007 by a team of professionals in the financial services industry, IC Markets, also known as International Capital Markets, is one of Australia’s largest Forex Broker and CFD providers. Their head office is located in Sydney, Australia.
IC Markets is one of the few ‘True ECN’ Forex brokers worldwide that provides trading solutions for active day traders, professionals, and traders who are new to the Forex market.
IC Markets’ mission is to create the best and most transparent trading environment for retail and institutional clients alike, allowing traders to focus more on their trading. Built ‘by traders for traders’ IC Markets is dedicated to offering superior spreads, execution and service.
Visit IC Markets Website
|💻 Forex Platform||MetaTrader, cTrader|
|🏢 Head Office||Sydney|
|⭐ Reviews||9.1 – 408 Reviews Trust Pilot|
|↔ Maximum Leverage||500:1|
|🖥 Execution Servers||NY4 & LD5|
|📡 Broker Type||ECN Forex Broker|
|💰 Negative Protection||No|
|📊 Trading Options||Cypto, CFDs, Stocks|
IC Markets - Overview
SpreadFrom 0.0 Pips
Cuts out Dealing DeskYes
Methods of deposit and offers
Deposit / Withdrawbroker2broker
Rebates Engine ForexComing soon!
SECURITY, MARGINS AND TECHNOLOGY
- ASIC regulated
- True ECN broker
- High-level web security
- No dealing-desk intervention
With a strong global market presence and a well-established reputation as one of Australia’s largest online trading providers, IC Markets takes security very seriously. Authorised and regulated by the Australian Securities and Investment Commission (ASIC), they ensure that all client money is held safely in segregated client trust accounts in Australian banks. These funds are never used for anything other than to cover the positions opened by their clients.
IC Markets base their core values on trust and transparency. They are a True ECN broker, so there is no dealing desk or other form of trade intervention between the client and the market. All trades are processed straight through to their ECN and LPs, which means clients trade in the real interbank Forex market.
Each of IC Markets’ trading platform use high-level web security. Partnering with the world’s best trading technology companies to bring their clients the ultimate trading environment and cutting edge trading tools, IC Markets offers some great tools including Depth of Market (DoM), inbuilt spread monitoring, ladder trading, automated close of trades with custom order templates and many more.
They are a True ECN broker, so there is no dealing desk or other form of trade intervention between the client and the market. All trades are processed straight through to their ECN and LPs, which means clients trade in the real interbank Forex market.
How IC Markets's spreads perform
CHARGES AND MARGINS
- Spread mark-up or
- $7 commission per standard lot round-turn
- Up to 500:1 leverage
As is the case with all brokers, clients pay a spread on every non-equity CFD and commission on every equity CFD trade.
IC Markets’ Standard Account runs without any commission fees but, instead, spreads are marked up by 1 pip above the inter-bank rate received from the liquidity providers.
The True ECN account shows the raw inter-bank spread received from liquidity providers and a commission fee of $7 per standard lot round turn applies when using this account. No additional fees are charged for trading index CFDs.
Commodity CFD spreads start at 0.3 points with a minimum margin requirement per contract of 1.0% on oil (Brent Crude or US Crude) or 2.5% on heating oil as examples.
- Excellent trade execution
- True ECN broker; MT4, MT5 & cTrader
- 1-click trade monitor
- VPS available
IC Markets has partnered with the world’s best trading technology companies to bring their clients the ultimate trading environment with cutting edge trading tools. Traders can, for example, make use of tools such as Depth of Market (DoM), inbuilt spread monitoring, ladder trading, automated close of trades with custom order templates, and more. Their iPhone and Android trading applications have been optimised to provide the best possible mobile trading experience.
IC Markets offer reliable execution through systems that have been specifically built to cope with a large number of trades at any given time. All trading platforms are also able to handle high volumes of traffic. Servers are located in the Equinix NY4 data centre in New York.
Other great technological offerings and tools that are available to IC Markets’ clients include, for example, additions to MetaTrader 4, such as a one-click trade module, spread monitor, trade risk calculator, market depth and advanced order types that have previously not been available.
Their True ECN trading environment allows traders to make use of some of the tightest spreads of all Forex brokers worldwide as well as many other great features, which are outlined in more depth below.
Giving their clients the option to either use MetaTrader 4, MetaTrader 5 or cTrader platform as their trading platforms of choice, IC Markets designed one of the first True ECN trading environments. This offering has no restriction on trading including no minimum order distance (trades can even be placed within the spread), and scalping, hedging and automated trading all permitted. Their True ECN account spreads start at 0.0 pips with flexible leverage options offering up to 500:1.
IC Markets’ MT4, MT5 and cTrader trade servers are located in the NY4 & LD5 IBX Equinix Data Centres in New York and London respectively, providing clients with the fastest possible execution speeds. Equinix data centres are known globally for their secure and reliable low latency infrastructure.
High-volume traders who are looking for an integrated trading environment and access to deep liquidity can also gain access to market data and easily manage orders using IC Markets’ FIX API, which guarantees ultra-high speed and low latency execution.
Their True ECN trading environment allows traders to make use of some of the tightest spreads of all Forex brokers worldwide!
Execution of Speed Comparison
CUSTOMER SERVICE, TRADING OPTIONS AND SPECIAL FEATURES
CUSTOMER SERVICE AND CLIENTS
- 24/5 customer support
- Global presence with large client base
- 4 account types to choose from
- Swap free account (Islamic Shariah compliant)
International Capital Markets has clients all over the globe and offers great customer support 24/5 through live chat, online help, a comprehensive FAQ section, phone hotline and email.
Clients can choose between three distinctly different account types upon sign-up: The Standard MetaTrader 4 account with no commissions and a minimum spread of 1.0 pip, the True ECN MetaTrader 4 account with spreads from 0.0 pips, or the cTrader account with spreads as low as -0.3. Islamic Shariah-compliant (Swap free) accounts are also available. They also offer the option to open a Demo Account for trading with no minimum deposit.
Apart from a large selection of currency pairs and commodities, IC Markets also offers a decent range of indices from around the globe including the Australian S&P 200 Index, UK FTSE 100 Index, US E-mini S&P 500 and US DJIA Index.
In total, more than 60 currency pairs (Forex), 6 cryptos, 100+ stocks, 16 indices, over 19 commodities plus bonds and futures can be traded with IC Markets.
FOREX AND OTHER TRADING OPTIONS AT IC MARKETS
- 60+ currency pairs & 6 cryptocurrencies
- 100+ stocks
- Over 19 commodities
- 16 indices CFDs + bonds & futures
IC Markets offers over 60 currency pairs, 6 cryptocurrencies, 100+ stocks, 16 indices, over 19 commodities plus bonds and futures.
Traders can choose to trade on the above-mentioned options on some of the world’s top markets such as the Australian S&P 200 Index, UK FTSE 100 Index, US E-mini S&P 500, US DJIA Index, Germany 30 and Hong Kong 50.
IC Markets offers leverage of up to 500:1, 10 different funding currencies, micro-lot trading starting from 0.01 and ultra-low spreads of 0.0 pips. Clients can start trading with minimum deposits starting from $200.
SPECIAL FEATURES OF IC MARKETS
- True ECN broker
- Top-notch technology including unique MT4 add-ons
- Very tight spreads & leverage up to 500:1
- CNS VPS offering
One of the world’s only True ECN Forex brokers, providing trading solutions for active day traders and scalpers as well as traders who are new to the Forex market.
Very low spreads and high leverage up to 500:1.
Great selection of financial instruments including Forex, CFDs on indices, stocks, ETFs, etc.
Top-notch technology including unique MetaTrader 4 add-ons.
Ultra-fast connectivity through MT4 and cTrader trade servers located in the NY4 and LD5 IBX Equinix Data Centres in New York and London respectively.
Having teamed up with VPS provider Commercial Network Services (CNS), IC Markets clients can trade from a CNS VPS with under 1-millisecond latency to IC M’s MetaTrader 4 server. The low latency is achieved through a cross connect between the CNS data centre and our MetaTrader 4 server. This is specifically beneficial for traders who utilise automated and high-frequency trading systems.
Having teamed up with VPS provider Commercial Network Services (CNS), IC Markets clients can trade from a CNS VPS with under 1-millisecond latency to IC M’s MetaTrader 4 server.
Max Leverage Comparison
IC Markets is one of Australia's leading online Forex brokers providing an exclusive ECN trading environment, top-notch technology features and excellent trading conditions. IC offers a great selection of tradable instruments, including 6 cryptocurrencies, and a strong customer support service.