IC Markets Review 2020

Built by traders for traders IC Markets is dedicated to offering superior spreads, execution and service.

Screenshot of www.icmarkets.com

Home page of IC Markets SC, showing the live prices and IC Markets’ spread

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IC Markets Extends Its Cryptocurrency Offering With 4 New Products

The following is an IC Markets review, who have now become one of the largest Forex providers by Volume in the world. IC Markets is a trading company that has been operating since 2007 on a worldwide basis. They offer clients with trading solutions along with superior liquidity.

Moreover, they have experience with Forex, CFD, and equity markets in Europe, Asia, and North America. IC markets hold the regulatory license to carry out trading business via Cyprus (for Europeans), Australia (Australians, APAC) and Seychelles (rest of world).

International Capital Markets Pty Ltd: ACN 123 289 109, AFSL No. 335692 
Regulated by the FSA Seychelles: SD018 
Regulated by CySEC: 362/18 

Moreover, the company has one .com website with various translations. This makes understanding the brand and offers very simple indeed. Thumbs up IC Markets 👍.

The overall site is very user-friendly with an aesthetic outlook as well as easy to understand language and terms. Moreover, the different translated versions of the website make it widely accessible to users worldwide.

The three business models implemented by IC markets are STP, ECN, and Market Maker. They of course push the ECN/STP model, however will B book certain risky orders in house, as they hold a market making license. Information about these business models is mentioned in the FAQs, which is quite helpful for a new broker. Moreover, the company is regulated in Australia and Seychelles. The average lowest possible spread offered by the company is EUR/USD 0.1 pips. The commission charges that are applied are $3.50 per lot, making it widely appreciated. 

IC Markets Account Types

The various account types are mentioned neatly in a table form, in an organized manner. Therefore, the information needed is easily understandable. All the advantages are mentioned while comparing it to other accounts offered, making it very beneficial for a newbie broker. The maximum leverage on offer is 500:1 for all account types. Also, the minimum deposit is $200 for all accounts.

Raw Pricing included across all account types. Suited for both new and experienced traders; choose preferred trading platform and pricing model to get started.

IC Markets Tools

Some bad news … trading signals are not mentioned, at least they’re not obvious – however trading tools are offered. These include trading servers, MAM/PAMM, virtual private servers, and MT4 Advanced trading tools. Also, the platforms that are offered include MT4 and MT5, along with cTrader. These are mentioned in detail, so a new trader can easily understand the lingo.  

IC Markets Spread & Live Prices

IC Markets Products

The products that are offered for trading by this company include Forex, commodities, indices, bond, trading cryptocurrency, stocks and futures. Each product has a section dedicated to it with further information. For example, specialties include precious metals as well as soft commodities, such as corn and coffee. Moreover, these products are offered in various numbers as well that are mentioned on the website in detail, providing transparency between the broker and the customer. The opening price, closing price, and the gross profit on trade are mentioned along with the costs of each product.  

Help & Support

The IC Markets help center is very advanced. There are answers available to a wide variety of FAQs to help with any query a customer might have. Alongside this, there is also a search bar, which provides instant answers if a question is asked. Moreover, the website also has a live chat for real-time support. Furthermore, the broker also has an active email support system as well as a callback option. The overall customer service offered by the company is top-notch and efficient.  

a wide variety of FAQs to help with any query a customer might have.

IC Markets’ Trust Pilot Scoring

According to Trustpilot.com, which is a popular review website, IC markets are reviewed as ‘Excellent’ with a 4.5/5 rating. According to the third party reviews, it was noted that people found the joining process easy, and found it very user-friendly, with easy access to depositing and withdrawing money. Another user said it offers stable spreads and reliable support to customers. On an overall scale, customers are pleased with the company and recommend it to others as well. However, some reservations have been made about the waiting time for live chats, which could be improved to improve their customer service and make it the best IC markets version there is.

The company has not specified who its target customers are, or whom it wishes to serve. This cannot be very easy for customers who are looking for a specific type of brokerage firm 😕. Therefore, IC markets should focus on carefully communicating their target segments and target customers. The broker felt like it was speaking to me, but it still felt like I was not being addressed, and instead, a general population was being discussed.

Lastly, IC Markets offer a wide variety of partnerships. These include Introducing Brokers (IB), money managers, White label partnerships, regional partnerships, and affiliate programs. Moreover, the detail is provided on what is offered to each type of collaboration and affiliation, aiding new traders greatly on their trading journey.