Is IC Markets Good?: The Review of IC Markets Pros and Cons [Summary of Overview Information from Real Trading Experiences]

Important Details of IC Markets
Broker Name IC Markets
Website icmarkets.com
Year of Establishment 2007
Regulatory Organization CySecFSA, ASIC
Minimum Deposit $200
Deposit and Withdrawal Speed Deposit: Immediate, Withdrawal: 1 day 3 hours interval
Deposit and Withdrawal Rate  -2.81%
Leverage Maximum 1:500
Spread EURUSD 8, USDJPY 8, GBPUSD 10
Platform MT4, MT5, WebTrader, cTrader

IC Markets is ranked 7th in The Best Forex Broker Ranking 2022

ข้อมูล IC MARKETS

Year of Establishment : 2007

Head Office

IC Markets’ Head Office is located in Sydney, Australia

Address: International Capital Markets Pty Ltd, Level 4, Carrington Street, Sydney, NSW 2000, AU

Trading Products

  • Forex:
  • Gold:
  • Petroleum:
  • Index:
  • Cryptocurrency:
  • Stock:
  • Other Commodities:
  •  

Broker type

IC Markets is a No dealing desk (NDD) broker, offering ECN (Electronic Communication Network) and STP (Straight through Processing) services.

Bonuses and Promotions

IC Markets does not offer any bonuses and promotions.

Contact Details

     

Trading Platform

  • MT4 : Windows, Android, iOS and Linux
  • MT5 : Windows, Android, iOS and Linux
  • WebTrader
  • cTrader

IC Markets Review

ic market

Large broker from Australia with relatively high reliability. It is internationally recognized by traders. There are quite a lot of trading products. In addition to currency pairs, there are also cryptocurrencies, stocks, commodities and bonds.

The downside is that Live chat queues are long, but recently getting better as it has been improved.

Advantages

Highly reliable broker
  • IC Markets is regulated by ASIC, a fairly rigorous regulatory organization.
  • IC Markets is ranked the 3rd in the most reliable Forex brokers in the world (Click to see details).
Famous and popular around the world
  • IC Markets is a broker used by traders all over the world and has been recognized internationally.
  • IC Markets is ranked 1st in the most popular reputable brokers ranking (Click to see details).
Various trading products

In addition to currency pairs, there are cryptocurrencies, stocks, commodities and bonds as well.

Trading server is quite stable
  • Fast trading, open-close orders without delay, taking approximately 0.5 seconds.
  • IC Markets is ranked 3rd in the Forex brokers rankings with the best trading experience for traders. (Click to see details)

Disadvantages

Live chat queue is quite long
  • In the past, customers using Live chat waited for more than 40-50 queue numbers.
  • But in the present, it is better, having only around 10 people in line. It is considered a good development.
  • Suggest to send questions via Email, the staff will respond quickly.
There are no bonuses and promotions
  • IC Markets does not offer any bonuses and promotions.
Stop out level 50% for all accounts

Stop Out level of 50% on all trading accounts, must be very careful.

Is IC Markets service fee high or low? (SPREAD, COMMISSION, SWAP)

IC Markets is a relatively low-trade fee broker, especially the Raw Spread account.

Example of IC Markets’s Spread – Standard (left) and Raw Spread (right)

Average Spread over 7 major currency pairs of IC Markets

ic markets avg spread

Swap Fee over major currency pairs of IC Markets

swap icmarkets

Commission fee on each IC Markets account

  • Standard Account: No Commission Fee
  • Raw Spread Account (MT4) : 7 USD/lot (round swap)
  • Raw Spread Account (cTrader) : 6 USD/lot (round swap)

Is IC Markets reliable and reputable?

The broker originated from Australia. To operate a business in this country, it is subject to a license from the ASIC (Australian Securities and Investments Commission), which is a very strict regulatory organization. Therefore, anyone who holds this license is decently guaranteed to be reliable.

ASIC

Year of Establishment : 2007

License Certificate (Regulator)

  1. CySec (Cyprus Securities and Exchange Commission)
    • License Certificate No: 362/18
    • Available for customers within the EEA countries (European Economic Area), except Belgium, Switzerland and Latvia.
    • There is a € 20,000 insured to compensate customers in the event of the broker bankruptcy (click to see details).
    • Click to view the License Certificate
  2. FSA (Seychelles Financial Services Authority)
  3. ASIC (Australian Securities and Investments Commission)

Head Office

IC Markets’ Head Office is located in Sydney, Australia

Address: International Capital Markets Pty Ltd, Level 4, Carrington Street, Sydney, NSW 2000, AU

Employee Number : 51-200 persons (A total of 480 employees are active on LinkedIn)

Customer capital protection

IC Markets has a policy to separate customers’ funds from the corporate accounts. The company will not use the customer’s funds for any expenses in the company’s operations.

NAB-Westpac

The funds are held with National Australia (NAB) and Westpac Banking Corporation.

To what extent is IC Markets popular with traders around the world?

It is unanimous that IC Markets is the most popular broker for traders. Based on the number of people who voted for both Forex Peace Army, Trustpilot and myfxbook which were the most, and all of the votes were in good order.

Add: As observed from the queues on the Live chat, if anyone has ever used it, they will find that IC Markets is a very long queuing broker (The team used to wait more than 3 hours or more than 60 queue numbers), indicating the amount of usage of a lot of customers.

IC-Markets-reputation

35% : Forex Peace Army [Score : 3.503 | 1,253 Reviews]
100%
25% : Trustpilot [Score : 4.7 | 7,051 Reviews]
100%
25% : myfxbook [Score : 3.9 | Total Votes : 718]
100%
2.5% : Google Review [Score : 3.7 | 47 Reviews]
65%
2.5% : Facebook [395K like this]
65%
2.5% : Intragram [12.9K Followers]
53%
2.5% : Twitter [7,218 Follows]
41%
2.5% : Youtube [2.81K subscribers]
24%
2.5% : Linkedin [4,651 followers]
47%

IC Markets Services

The highlight of IC Markets in terms of service is its Live chat support staff, which is available 24 hours a day and no holidays.

There are times when the website crashes frequently, but recently, it seems to improve, and crashes rarely occur.

Live chat with support staff available for 24 hours a day, no holidays.

In the past, customers using IC Markets Live chat waited for a long time (over 50 queue numbers, 20 minutes to 2 hours), but in the present, it is getting better. The broker has assigned staff to take care of this section, leaving only a few queues. There are support staff to answer quickly.

The disadvantage of IC Markets is that the website crashes frequently (Probably with a lot of customers accessing it at a time)

Live chat : www.icmarkets.com

Contact number

Phone number (World-wide): +61 (0) 280144280

Email

Customer Relations: [email protected]
Support: [email protected]
Accounting: [email protected]
Marketing: [email protected]

IC Markets Trading Experiences

Trading is fast, smooth, open-close orders quickly, taking only 0.5 second (on average). Raw Spread account is recommended because the minimum deposit is the same as the Standard account, but the service fee is lower (Spread fee+ Commission fee).

Apichart T.

Smooth trading, open-close orders as fast as 0.5 second. On the website, it is informed that the minimum deposit is 200 USD, but actually the minimum deposit is only 100 USD

Yoya Yoshida

Fast trading, No-delay, adjust ST TP quickly.

Attawat Rx

Good trading, stable server, open-close orders quickly, no delay. Raw spread account is recommended due to smooth trading, the minimum deposit is the same as standard account, but the total service fee (spread fee + commision fee) is lower.

Parichat B.

Stop Out level 50% of all trading accounts, must be very careful.

Sila T.

Order delivery is fast, cost is competitive, IC Markets broker is highly reliable.

Uaiporn R.

Recommending a raw spread account due to the low spread, it is similar to the Exness Pro account.

IC Markets Conclusion

IC Markets is ranked the 8th in The Best Forex Broker Ranking 2022

References

Writer : Yoda Yoshida

  • Position : Editor
  • Biography : Former waiter to professional traders
  • Experience : 20 years in the Forex industry
  • Goal : To select the best broker for traders.
  • Short greetings : Some things take time to grow.
  • Full biography of the writer, Click >

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