IC Markets Broker Summary
- Overall Rating
IC Markets is a trusted and recommended brokerage for online FX and crypto trading
IC Markets Review
In a world where everything is connected through internet, you are now in a position to trade a variety of assets while sitting at your home. To be active in a financial market, you have to start with an account with an online broker. There are many types of brokers. The number of cryptocurrency brokers is increasing with time. These are the brokers that allow you to trade various cryptocurrency CFDs along with many other asset types. One of such traders is IC Markets. It allows traders from various countries of the world to trade on its platform and reach out to some of the best financial markets.
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Now, let’s find out more about IC Markets in detail and find out what your trading experience will be like when you sign up with IC Markets.
Introducing IC Markets
IC Markets is an Australian broker providing trading services to traders in various financial markets. The best thing about this broker is that it has been started by people who belong to the industry. It has been around when online brokers were not that common. Since 2007, it has provided some of the best and smoothest online trading services to traders from various regions of the world. The broker prides itself for being transparent with how it operates. It has all the policies in place that make it one of the safest online brokers to trade with.
One of the first things you want to know about a cryptocurrency broker is that it should be accountable and answerable to an authority for it to remain fair and transparent. All the traders that sign up with this broker can have the peace of mind that it is properly registered and regulated. It is properly regulated by ASIC (Australian Securities and Investments Commission). More importantly, there is an external firm that audits all the financial matters of the company to ensure that everything is being run transparently. The broker also promises to keep the information of all of its traders safe and protected.
Trading Financial Assets with IC Markets
You are going to love this broker for the range of markets it brings to you for trading. You have a variety of options to choose from so you can trade exactly the asset that you are most comfortable with. Throughout the day and night, you have access to these markets from around the world to trade some of the most stable and liquid assets. You can trade indices, stocks, commodities and currency pairs. Of course, the most important of all assets is cryptocurrency. When it comes to indices, you have access to 17 of them from some of the most well-known markets of the world.
There are 19 commodities that you can trade while trading on the IC Markets platform. These commodities come from a variety of markets including precious metals, agricultural products, and energies. In the soft commodities, you have sugar, corn, soybeans, coffee, etc. for trading. If you like trading precious metals, you have palladium, platinum, gold, silver, etc. You can also trade bonds, stocks, and futures while using the same trading platform from IC Markets. The list of stocks is huge and you will find some of your favorite companies in this list. There are more than 100 stocks for you to choose from.
One of the most famous forms of trading is forex currencies. People love to trade forex currencies because they are easy to understand and can yield profits quite quickly. There are not many brokers that will give you access to more than 50 currency pairs. Most of the brokers suffice with major currency pairs because of their stability. On the other hand, you have over 65 currency pairs available for you to trade when you open your account with IC Markets. In short, you have financial assets available for trading from all the financial markets of the world.
Trading Cryptocurrencies with IC Markets
A lot of traders are interested in opening their accounts with IC Markets because it is one of the handful brokers that allow cryptocurrency trading as well. Cryptocurrency market can be quite a challenging market because of its volatility. These assets can go up or down by 20% within a day. That’s what causes many online brokers to completely avoid this market. Some of the best online brokers are still not offering their traders a chance to trade CFDs on cryptocurrencies. You will be happy that IC Markets gives you access to cryptocurrencies market as well.
IC Markets takes the cake when it comes to the types of cryptocurrencies available for trading. A lot of brokers that do allow you to trade cryptocurrency CFDs only have Bitcoin and Ethereum, and some other major currencies available on their trading platform. However, when you open your account with IC Markets, you can trade not only Ethereum and Bitcoin but other cryptocurrencies like PeerCoin, NameCoin, Ripple, Bitcoin Cash, EOS, etc. too. What it means is that you have a lot of trading choices even if you are only interested in trading cryptocurrencies and not interested in other financial assets.
Trading Conditions with IC Markets
You understand at this point that there are lots of assets available for trading with IC Markets, but the most important thing to know after that is the trading conditions. Are the conditions good enough to keep you trading with passion? Are the conditions good enough to encourage you to trade more? That’s another area where IC Markets beats most of its competitors. The first thing you have to look at when choosing a broker is the spreads. Spreads tell you how much your broker will be charging you for buying and selling a particular asset. The bigger the asset, the more you end up paying to the broker.
IC Markets is one of the best brokers when it comes to offering a lot of flexibility to its traders in the form of lower spreads. While the spreads are already quite low, they can be even lower if you pick certain account types. The best accounts can make your spreads zero i.e. you will not be paying anything to the broker in the form of spread. The other big factor that helps you decide whether or not you should sign up with a broker is the leverage. How much leverage is available from the broker so you can control big trades?
The leverage you can take advantage of with IC Markets depends on the asset you have chosen for trading. If you go with forex and commodities, you can enjoy leverage of up to 1:500. That’s a huge leverage allowing you to control extremely big trades and make huge profits. On the other hand, you have leverages of 1:200 available if you go with indices and bonds. The smallest leverages you have available are in the cryptocurrency currency department. However, you have to understand that cryptocurrencies have huge values. It is only in the best interests of the traders to take advantage of leverages of up to 1:5 on cryptocurrencies.
Automation is the key to fast trades. Fast trades are important because any delays can cause you to end up with losses. With IC Markets, you can trade at lightning speeds because of the automation of the processes. There are many other benefits available to the traders based on the account type they choose while signing up.
The IC Markets Trading Platforms
IC Markets has vowed to give only the best to its traders, and that’s why you will see multiple trading platforms from this broker. Most other brokers have only one platform. If you don’t like the platform, there is no other option for you to trade. All you have to do is to change the broker. On the other hand, IC Markets has given you access to three different trading platforms for your ease. First of all, you have access to the MT4 platform. Being the best trading platform, it is being offered by all the major and minor online brokers.
However, IC Markets goes the extra step and brings you MT5 as well. Both these platforms are available to you on your computer, portable devices, and in the web-based form as well. You will be glad to know that you can use either of these platforms on your mobile devices whether you are using Android operating system or the iOS. If you have already tried both the platforms, but you want to try out something new, you have cTrader platform available too. This is yet another platform that carries the legacy of MT4 forward with some great features. Once again, cTRader is also available for you on the web and on your mobile devices regardless of the operating system.
If you want to know how the platforms work, you can take advantage of the demo account as well. The demo account lets you trade in a simulated environment where you can learn about trading strategies as well as the way the trading platforms work. You don’t usually see trading platforms coming to the MAC platform. It seems that brokers are not interested in serving smaller audiences. With IC Markets, it is the complete opposite. It brings its trading MT4 and MT5 platforms to the MACs as well.
Account Types Available with IC Markets
You will not be disappointed by the type of accounts available with IC Markets. Whether you are stepping in the trading world for the first time or have been around for several years, you will find an account that has been designed with your specific needs in mind. There are two forms of the ECN accounts available with IC Markets. One version of the account lets you access the cTrader platform whereas the other one lets you access the MT4 platform. In either accounts, you don’t have to lose your money in the form of spreads. Instead, you will pay a commission on the trades you execute.
There is a standard account as well. If you don’t like the idea of giving a commission on your trades, you can go with this standard account. In this account, there is no commission to pay. Instead, you pay to the broker in the form of spreads. The minimum spread available to you in this account is of 1.0 pip. You can take a demo of any of these accounts to know which one is the best for you. What you will love the most about these accounts is that the minimum deposit required to open them is a small $200.
There is no reduction in leverage as you move from account to account. Micro trading is allowed with all of these accounts and you can trade just about any asset regardless of the account you pick. There is an Islamic Account option available for Muslims who want to avoid certain aspects of normal accounts due to religious reasons. There is no restriction on the style of trading you pick with any of the accounts.
IC Markets Customer Support
There are lots of ways for you to contact the broker if you have any queries. You have multiple toll free and international numbers that you can call to get any help as a trader. You also have half a dozen email addresses where you can send in your concerns. Customer service is available on every day of the week. On Sundays and Fridays, customer support is available from 10pm to 10pm. If you want someone to listen to you instantly, you can also use the chat feature on the website. A representative will serve you live when you use this option.
If you set your requirements for cryptocurrency brokers, you will see IC Markets meetings all of those requirements. From a variety of cryptocurrencies and other financial assets to huge leverages, IC Markets gives traders lots of opportunities to attain their financial goals. In addition to that, it works with spreads and commissions both, allowing traders to pick the option that they are most comfortable with. In the list of the best cryptocurrency brokers on the internet, IC Markets is definitely among the top 10 for a smooth trading experience and more.