IC Markets Review: Detailed Information About This One Brokerz
IC Markets was founded in 2007 in Sydney and 2009 obtained AFSL from the Australian Securities and Investment Commission (ASIC). Find Out The Full IC Markets Review Here!
Account Type
IC Markets offers its clients three types of live accounts, which are obtainable on two diverse applications. Regular accounts are commission-free accounts, although Accurate ECN accounts have tighter spreads, and charge a commission of $7.
Traders can trade micro lot sizes on all account varieties, and of course, IC Markets also offers a free demo account, which can be necessary for inexperienced traders. Moreover, IC Markets offers a swap-free service for Muslim investors, so that they can open an account that complies with Sharia principles.
IC Markets Spreads & Commissions
In contrast, IC Markets spreads on ECN accounts start at 0.1 pips for EUR/USD, and charge a commission of $6/$7 per lot on cTrader and MT4, respectively. So, the transaction fees of the account holder are 0.7-0.8 pips, including commission, which is a very attractive offer, especially considering that one can open an ECN MT4 account for as little as 200 Dollars.
Payment method
IC Markets offers various deposit/withdrawal methods to its clients: Via credit/debit card, bank transfer, Neteller, Skrill, Webmoney, China UnionPay, FasaPay, PayPal, and Qiwi.
Research
IC Markets incorporates several in-house research resources, such as some technical and fundamental analysis, on its blog daily under its market analysis section, in addition to content provided by third parties, which includes the economic calendar from MQL5 and headlines from Myfxbook.
Apart from industry minimum standards, IC Markets also provides social copy trading services through ZuluTrade and Myfxbook. For MetaTrader 4, IC Markets provides an Advanced Trading Tools add-on developed by FX Blue LLP.
IC Markets also added the EA Lab from Trade View in 2017, which enables users to create Professional Advisors (EAs) for automated trading in the MetaTrader app. With EA Lab, traders can use the drag and drop feature, so they don’t face any difficulty understanding the code, but still require advanced technical knowledge.
Trading App
Three popular trading app options MT4, MT5, and cTrader Offered to IC Markets clients.
MT4 – MT4 is the most widely used forex trading application, available for broker clients in Mac, iPhone/iPad, Android, as well as Web Trader versions. MT4 delivers each of the tools and resources a trader desires: numerous technical indicators, sophisticated charting packages, various trading robots (Forex EAs), and a full backtest. EAs / Expert Advisors are very popular with experienced traders, as they allow trading to be completely automated, so traders can sit back and relax while the software does all the work.
If you are using an EA / Expert Advisor, it is important to remember that your application must be connected to the server 24 hours a day. The top solution, within this case, is a VPS, and IC Markets has partnered with Industrial Network Solutions, NYCServers, and BeeksFX VPS, to provide a low-latency, customized VPS resolution for its customers. The VPS will connect traders to the Equinix NY4 network using cutting-edge technology and providing excellent execution speeds.
MT5 – IC Markets has also launched the MetaTrader 5 (MT5) application in May 2017. The amount of MT5 customers has not been too long ago increased, because the firm MetaQuotes tries to strengthen its presence within the industry like its well-known predecessor, MT4.
cTrader – In addition, IC Markets offers access to the cTrader application, which is tailor-made for use in ECN environments. IC Markets’ cTrader package includes PC, web, and mobile versions, as well as the cAlgo automated trading app.
Wrapping Up
Algorithmic traders using the MT4, MT5, and cTrader apps, IC Markets can give them traction with it. And Traders Who Need fast execution with small commissions and competitive spreads. IC Markets charges low transaction fees. In addition, they have an easy and quick account opening method. IC marketplace also delivers free Deposit, and withdrawal and is also user-friendly.
