In this detailed IC Markets Broker Review, we will review each aspect of the IC Markets broker to see if this broker is a legit broker. Below is the summary of the IC Markets Broker.
Summary
Assets Available | 7 Asset Classes - Forex, Commodities, Indices, Bonds, Crypto, Stocks, Futures |
Regulated By | ASIC, CySEC, FSA |
No. Of Trading Platforms | 4 Trading Platforms - MetaTrader 4, MetaTrader 5, cTrader and TradingView. |
Leverage | Up to 1:500 |
Spreads | From 0.0 pips |
Commission | From 0% |
Min Deposit | $200 |
Demo Account | Yes |
Education Provided | Trading courses provided |
Methods of Payment | Credit Card/Debit Card, PayPal, Neteller, Skrill, Wire transfer, BPay, Broker to Broker, RapidPay and Klarna |
Open Account |
Top Forex Brokers
Best for Low Spreads | Best for Speed | Best for High Leverage |
 Fusion Markets is one of the top brokers that provide traders with low spreads (Risk warning: 76% of retail CFD accounts lose money) |  BlackBull markets is a great broker that provides traders with fast executions speeds. (Risk warning: 76% of retail CFD accounts lose money) |  FBS broker is a highly regulated broker that is best for high leverage trading. (Risk warning: 76% of retail CFD accounts lose money) |
Broker Background
The IC Markets Broker is a regulated broker that was founded in Sydney, Australia, in 2007. IC markets is known for having one of the lowest spreads in the industry.
First, we will look at the trading platforms provided by the IC Markets broker.
Trading Platforms
The IC Markets Broker provides a range of trading platforms. These are, MetaTrader 4, MetaTrader 5, cTrader and TradingView trading platform.
cTrader
cTrader is a fast and transparent trading platform perfect for everyone from beginners to seasoned traders. It’s great for forex and CFD trading and works on computers, phones, and tablets.
cTrader has powerful tools to help you analyze the market and execute trades. It’s especially good for algorithmic trading, which lets you automate your trading strategies.
MetaTrader 4
MetaTrader 4 is another popular trading platform that’s great for forex traders. Whether you’re new to trading or an experienced pro, MT4 has everything you need. It’s got tools to help you analyze the market and place trades. MT4 is also a good choice for automated trading strategies.
MetaTrader 5
MetaTrader 5 is successor to the MetaTrader 4. It has even more technical indicators to help you analyze the market. Like MT4, MT5 also supports automated trading. It works on computers, phones, and tablets, and has a lot of tools for in-depth market analysis.
TradingView
TradingView is our favourite trading platform. It’s got the one of the best trading interfaces and some of the best tools for analysing the market and placing trades. You can use it on your computer or phone.
IC Markets Broker is one of the few brokers supported by the TradingView platform, which is an advantage of using IC Markets Broker.
Instruments Available For Trading
The IC Markets broker offers traders with 7 asset classes. These are forex, commodities, indices, bonds, crypto, stocks and futures. Across these asset classes, there are, 2250+ tradable instruments.
Forex
This broker provides traders with over 60 forex pairs to trade. These include, majors, minors and exotics. The spreads for forex pairs starts from 0.0 pips.
Commodities
This broker provides a range of commodities to trade with. These include, precious metals, energies and soft commodities.
Indices
IC Markets provide traders with a range of Indices from around the world to choose from, including the Australian S&P 200 Index, UK FTSE 100 Index, US E-mini S&P 500 and US DJIA Index.
Bonds
IC Markets offers bond CFDs that mimic real bonds. These bonds pay regular interest payments, and you can speculate on their price by buying or selling them.
Cryptocurrencies
This broker provides traders with a range of CFD’s you can trade, these include, Bitcoin, Ethereum, Dash, Litecoin, etc.
Stocks
IC markets offers single-stock CFDs to trade on companies like Nvidia, Apple, Meta, Microsoft, and BHP Billiton.
Futures
This broker provides a range of Futures to trade. These include, ICE Dollar Index Futures, CBOE VIX Index Futures, etc.
Regulations
IC markets is a highly regulated broker that is regulated by 3 different Regulators across 3 different countries. These include a tier 1 regulator as well. IC Markets broker is regulated by
- Australian Securities and Investment Commission (ASIC)
- Cyprus Securities and Exchange Commission (CySEC)
- Financial Services Authority (FSA)
Account Types
The IC Markets broker provides traders with 4 main account types for live trading. These are raw spread cTrader/TradingView, raw spread MetaTrader, standard account and the Islamic account. Depending on your trading style, you can choose the account suitable for you.
In the next section, we will talk about the commission and spreads for these account types.
Commissions And Spreads
The commission and spreads depends on the account type. For the Raw Spread cTrader/TradingView account, the spreads start from 0.0 pips and the commission charged is $3 per lot per side. For the Raw Spread MetaTrader account, the spreads start from 0.0 pips and the commission charged is $3.5 per lot per side. For the standard account, the spreads start from 0.8 pips and no commission is charged.
Leverage
The IC Markets broker provides a leverage of up to 1:500. This is high leverage, but not the highest in the industry.
Education Provided
The IC Markets broker provides education to traders through webinars, podcasts and blog posts. This education is mainly great for beginner traders and can be useful for intermediate traders.
Minimum Deposit
To start trading with the IC Markets broker, you require a minimum deposit of $200.
Methods Of Payment (Deposit and Withdrawal)
The IC Markets broker provides traders with a range of payment methods for both depositing and withdrawing. The payment methods supported are, Credit Card/Debit Card, PayPal, Neteller, Skrill, Wire transfer, BPay, Broker to Broker, RapidPay and Klarna.
Customer Service
When it comes to customer support, the IC Markets broker provide traders with 24/7 customer service. Traders can contact the IC Markets broker customer support through email, phone and live chat. Traders can also send a message through their contact form on their website.
Demo Accounts
The IC Markets broker does provide traders with a Demo account to practice trading. This is very useful for beginner traders.
Pros & Cons
The table below shows the pros and cons of the IC Markets broker.
| Pros | Cons |
| Low spreads | Min deposit $200 |
| Tier 1 Regulated | Mid-leverage |
| Supports TradingView | Don’t accept US |
| 24/7 Customer Support |
Is this broker legit?
Yes, IC markets broker is a legit broker that is regulated by the Australian Securities and Investment Commission (ASIC). This broker is great for it’s low spread offering and the speed of trade execution.
IC Markets Alternative Brokers
Below are some of the alternative brokers to the IC Markets broker who are regulated by top tier regulators. These brokers are also trustworthy and have a good standing reputation in the industry.
- Fusion Markets – Fusion Markets provides lower spreads than the IC Markets broker
- BlackBull Markets – BlackBull markets has a faster speed of trade execution than the IC Markets broker
- FBS Broker – Provides higher leverage compared to the IC Markets broker.
Conclusion
In this article, we reviewed the IC Markets broker in depth to see if this broker is a legit broker. We concluded that this broker is indeed a legit broker that offers traders with great features.
