IC Market

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Overview
  • Regulated By:: CySEC
  • Headquarters:: N/A
  • Foundation Year: 2011
  • Min Deposit: $5

IC Market came into existence in 2007 and can be regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Services Authority (FSA). Among the most popular Forex agents, it offers 3 trading accounts known as Deutsche Spread (c Trader and Metatrader) and Standard Account (Metatrader). Though the spreads range from 0 pips (Raw Spread) with commissions payable, the Standard accounts provides a commission-free trading with spreads of only 1 pip. In addition there are additional options for either Demo Trading Accounts in addition to Islamic Swap Free Accounts (Accounts where it is forbidden to pay interest on deposited funds, as such traders cannot be charged rollovers or overnight fees).

One of the explanations for the prevalence of the IC market is its own targeted offerings. The deemed broker offers services and features taking into account both the beginners in addition to the skilled dealers. The broker prides itself to be the recommended preference for its large volume traders or scalpers(Dealers who enter and exit the financial markets within minutes, and place large sized trades by using a greater leverage to realize higher profits from relatively little changes).Their New York based Equinix NY4 is estimated to process within 500,000 trades on a daily basis. If you’re speculating how IC Markets performs compared with other people, lets discuss some of the offerings as well as limitations.

Pros:

  • World’s largest true ECN broker.
  • Regulated by ASIC.
  • 230 Trading Platforms over multiple markets to the hottest trading platforms.
  • Low Spreads accompanied by High Liquidity.
  • Free Deposit and Withdrawal Options.
  • Addition of new Liquidity Providers on a regular basis.
  • Easy access for those dealers to raw spreads and quicker rates of execution.

Cons:

  • No US customers.
  • Restricted Educational Tools making it hard for beginners.
  • No fixed Spreads.
  • IC Markets Overview: Summary

IC Exchange is a Forex broker regulated by a number of the most challenging regulatory authorities on earth ASIC (Australian Securities and Investment Commission). Founded in 2007, the IC Markets had its source in Sydney Through regular monitoring and strict licensing the ASIC guarantees that the Forex brokers meet sufficient compliances. A number of these attractive offerings incorporate competitive spreads on its own commission-based accounts for the two Forex and CFD traders. Today IC marketplace trades utilizing theIn incorporate trading platform from MetaQuotes Software Corporation, such as MetaTrader4 (MT4) along with MetaTrader 5 (MT5), as well as the package of cTrader platforms from SpotWare Systems. Aside from the above mentioned, the dealers have been provided 63 pairs of Forex and 41 CFD’s 41 CFDs on indices, metals, cryptocurrencies and futures contracts because of its own available account forms, IC Markets also provides social copy trading via Myfxbook and about the ZuluTrade platform.Considered that an average-risk agent, IC Markets includes a decent Trust Score(70/90).IC Markets isn’t traded publicly nor function a bank.It is authorized by 3 regulators a) Tier-1 regulator (high trust), Tier-2 labs (average trust), along with Zero tier-3 authorities (low trust). The major broker offers different investment products to its customers like Forex(Spot Trading), Currency Pairs, CFD’s, Social trading, Cryptocurrencies traded(Actual and as CFD).

IC Trade Overview: Regulations

IC Exchange is authorized and governed by the FSA.,Seychelles Financial Services Regulator that possesses the responsibility for a fair,transparent financial market in Seychelles supported by confident investors. FSA requirements expect the licence holders to have in place risk management and personnel training procedures.The audits further fortify the operational processes to ensure regulatory compliance. There’s absolutely no doubt that FSA is one of the most stringent monetary compliance regulatory body at the world.The FSA is that the autonomous regulatory body that’s accountable for the non-bank financial services in the Seychelles.Financial Services Authority is the regulatory body responsible for the non-bank financial services from the Seychelles. Established under the Financial Services Authority Act, 2013.

Along with the FSA, the IC Trade is a part of the Financial Ombudsman Service(FOS), that permits the clients to resolve complaints in a professional manner. IC Markets operates via two different brands

IC Markets (SC) is possessed by Actual ECN Trading Ltd and regulated by the FSA in the Seychelles.

IC Exchange (EU) is provided for European dealers and is governed by CySec (and conforms to current ESMA restrictions on leverage etc).

IC Trade Review: Countries

IC Markets takes traders in Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.However the Dealers from United States, Canada, Zimbabwe, Iran, Iraq, Ghana, Cote D’Ivoire, Cuba, Liberia, Niger, Togo.

IC Markets Review: Trading Platforms:

IC Markets offers its traders a couple platforms to select from. With 3 platforms on offer, IC Markets offers its dealers with several tools and methods to perform the trades.

MetaTrader4

Metatrader 4 is the hottest trading platform with IC Markets.The platform provides the dealers using state of the art features like 1-click trading options and a comprehensive marketplace analysis.Also the platform accompanies plenty of features such as technical indicators, advanced charting tools, a broad range of Expert Advisers and comprehensive back-testing options. Besides you will find on the go Metatrader App for every Android or Apple and could be accessed from any desktop via the internet based MT4 platform.

MetaTrader5

Even though the MT4 remains the most famous platform among the dealers and is extensively used, MT5 is the latest of the series. It’s an enlarged version of MT4 platform.

CTrader

This trading platform is customized to the ECN Trading environment and is made up of Automated Trading software.It can be available either on the desktop as well as web. The traders can explore 3 options for Car -trading created to get an ECN trading atmosphere. This includes automated trading ZuluTrade, Myfxbook’s AutoTrade and Signal Trader’s mirroring technology

IC Markets Overview:Account Types

There are 3 choices of account forms that the IC market provides its traders. The account forms are tailor-customized in accordance with the customer’s requirements. Traders have the capability to pick the account types by”Standard”,”Authentic ECN”, or even a”cTrader ECN” account. Each account varies but normally all of the account offer similar features.Although the’ECN account’ provides lower spreads,but they’re usually low across all accounts.The benefit of owning a Demo accounts is that the dealer gets to practice live demo account.

IC Markets Overview:Trading Fees and Commissions

IC Markets doesn’t levy any additional fees for either the deposits or the withdrawals. However there might be charges incurred on the payments to and fro from some International Banking Institutions, which the IC Markets doesn’t hold responsibility.There are fees for International Wire Transfers and a processing charges of 20AUD or the equivalent of the money is billed by the banking institution, which will be subtracted from the withdrawal amount.Having said that the commission could change with the establishment and could take about 2 months and might incur additional intermediary charges.The debit card or the charge card have been processed without any charges and might take from 3-10 days depending on the Financial institution.

IC Markets Overview:Commissions & Charges

As mentioned before IC Dollar offers 3 account types varying in trading as well as commission.The accounts may range in the commission free(Spread Only) type on the normal Account to Commission based (Spread & Commission) on the true ECN as well as cTrader accounts.IC Markets has gone over-board in offering the discounts to the dealers who have carried over 100 lots/month. The cTrader account is different from the True ECN account since it comes with lower commission by about one-tenth. However, the typical accounts that’s commission free is far much less appealing in comparison with the other two having commission.

IC Trade Overview: Trading Applications

With the purpose of improving the general trading experience for the consumers, IC Markets introduced 20 new and distinctive trading instruments not initially part of their first MT4.Driven by these tools, the traders may have a competitive advantage from the trading world using the popular platform.These instruments provide the trader with improved capability over and beyond those in the inherent trading platform.Features such as Correlation Matrix provides the dealer with time scales and helps to make informed decisions, while the trade terminal is an analysis tool thai assists in precision trading.Other novel attributes incorporate the Alarm Manager,Correlation Trader, Market Manager,Mini Terminal, and also Sentiment tracker. These tools are immensely useful and can help a novice individual to commence the trading without hassles.

IC Markets Review: Trading Instruments/Assets

The IC Markets trading brokerage offers its customers a diverse range of trading tools and resources. With over 80 instruments available, they range from currency pairs, CFDs, Stocks, commodities and futures, precious metals, along with cryptocurrencies, including Bitcoin and Ethereum.Out of those IC Markets bulk will be the currency pairs and consequently Forex is a enormous portion of the offerings. Using the zero spread in the c-trader platform, it reduces the spread prices because of its regular traders.The average spreads are extremely low ranging by a meager 0.1 pips which may affect largely daily profits.

Customer Service

IC Trade is the top Forex broker when it comes to customer service.With a range of options which range from multilingual service available 24 hours each day, 5 days a week, along with other myriad alternatives for example excels in the area of customer support. They provide their customers multilingual support 24 hrs a day live chat, email, and international support hotline. In any case, there is a support centre providing the clients solutions for their own queries.

Are IC Trade Best for Day Trading?

IC Markets is a great broker for Forex trading due to several variables:

Low Spreads — Frequent traders constantly seek for brokers with reduced cost of trading.IC Dollar, together with average spreads of only 0.1 on EUR/USD for instance, the dealers do not need to be worried about the profits payable by greater high commission/trading expenses.

Education — New dealers always look for internet agents offering range of educational tools.The broker has many video tutorials together with the objective of educating traders about the many areas of day trading.As well, they provide many guides and articles to help their traders.

Trading Applications — As stated earlier IC market has released approximately 20 new trading instruments which are over and above the purposes of the current platform MT4. A variety of Technical indicators have been utilized for specialized analysis together with tools like advanced charting and analysis tools calculators.

Range of assets — there’s a range of assets that makes the broker an ideal choice for a day trader, newcomer or an experienced veteran.

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