IC Markets or International Capital Markets is one of the fastest growing forex brokers in Australia. It is an ECN Forex Broker with its headquarters in Sydney and representative offices right across the globe, including Vietnam and China. It is fully regulated with the Australian Financial Service Licence 335692. and was listed as one of the top 10 forex brokers in the world. Founded in Sydney, IC Markets are one of Australia’s oldest Forex providers.
What we found in our IC Markets Australian Forex Broker review:
– Highest Levels of Leverage
– Low Spreads Starting At Just 0.4 Pips
– No Commissions Charged On Withdrawal
– Multiple Trading Platforms On Offer
– Excellent Customer Service
– Sound National Regulation
What is IC Markets’ Most Popular Feature?
Low spreads starting from 0.4 pips, no commission on withdrawal, highest leverage levels and no trading restrictions are undeniably their most popular feature as well as the fact they were chosen among the world’s top 10 Forex brokers.
Top Execution Speeds
Our IC Markets Australian Forex broker review found that due to the company’s servers being located within the Equinix NY4 data centre in New York, execution speeds were lighting fast. All the foreign exchange and currency market data originates from here meaning the company can ensure low latency (less than 1 milli-second) and can guaranteed the fast execution of trades.
Spreads Offered by IC Markets?
By combining AUD/USD 0.4 pip spreads with their zero dollar commissions (Standard only), IC Markets offers their clients the lowest cost Forex trading solutions around.
We compared IC Markets with different forex brokers and although Pepperstone offers the lowest spread fees starting from 0.1, IC Markets is still considerably lower than GO Markets (1.5 pips), CMC Markets (0.7 pips) and ThinkForex (0.8 pips).
What Leverage Does The Broker Offer?
The 500:1 leverage that is provided by IC Markets is as high as that provided by CMC Markets, Pepperstone and ThinkForex and higher than the ratios offered by GO Markets (300:1) and OANDA (50:1). By having the highest leverage of 500:1, traders are able to trade 500 times the amount they originally deposited. For instance, a $200 deposit (the minimum required) at 500:1 means you can control $100 000 worth of currency on the market. While this definitely enhances your up side it also opens you up to incredible risk. Don’t bite of more than you can chew, know your limits and experience levels before commencing currency trading.
Promotional bonuses were not offered by the company when we compiled our IC Markets Australian Forex broker review. Usually sign up bonuses are introduced for a limited time only. However, this should not take away from the other services and features of IC Markets. If a sign on bonus is introduced by the company in the near future we will update this IC Markets Australian Forex broker review accordingly.
What Forex Platform is Offered By IC Markets?
IC Markets offers three trading platforms: MetaTrader4 and MetaTrader5 for live trading, as well as the cTrader platform. Across all platforms IC Markets offer a True ECN for MetaTrader and cTrader ECN account, providing a perfect environment for automated trading and scalping with no dealer desk.
IC Markets’ platforms are known for their high speed connectivity and can be downloaded easily. The forex broker also offers mobile trading across both iPhone and Android devices as well as a web based version.
The trading platform offered by IC Markets is easy to use and is designed for inexperienced traders. All you need is a PC or a laptop and good internet connectivity and you can start trading with this forex broker. They provide unique order type identification, management reports and the ability to choose from three different allocation methods – proportional, lot and percentage.
A True ECN Broker
IC Markets are a true ECN broker meaning they can provide traders with super accurate pricing and lightening fast execution speeds. This happens because they are granted direct access to interbank price feeds from more than fifty banks and institutional liquidity providers. This is all designed to reduce lag time so that trades can be executed quickly and with next to no slippage.
Access To Capital Markets
The real benefit of IC Markets trading platforms is the access they provide traders to capital markets located in numerous financial centres around the world. Even though geographically financial hubs are located thousands of kilometres away from each other, International Capital Markets’ trading platforms provide traders with access to markets located on the other side of the world. Further, thanks to ECN, distance no longer impacts execution speeds or connection issues.
IC Markets is a regulated broker that is governed nationally under the licence number 335692 . This means there is no need to worry that IC Markets might be a scam company. They have a large list of clients both retail and institutional that can guarantee the company’s credentials. They have a sound financial background and are committed to protecting investor, consumer and creditor interests.
Why Is Australian Regulation Important?
Australia boasts some of the strictest and most robust financial regulations in the world. The laws that govern the finance industry dictate the state of play to any company offering financial products, services or advice to consumers. In order to promote integrity, encourage business and keep the market ticking along nicely, financial services companies, including Forex & CFDs brokers are heavily regulated. This ensures your deposits are 100% safe as they’re held in segregated bank accounts so companies like IC Markets Australian Forex Broker review cannot invest or earn a return on your hard earned in the mean time. Ultimately, it pays to trade with an Aussie broker like IC Markets.
IC Markets Accounts Available
IC Markets boasts 3 types of accounts suited to a multitude of traders. On their website they provide interactive charts that identifies the benefits of each account they offer traders. Traders can select from Standard to True ECN to cTrader IC Markets accounts. By far and away the most popular account currently offered by IC Markets is their True ECN account which we discussed above.
Customer Service Levels
Considering that IC Markets is one of the biggest broker trading companies one would think that their customer service would be slower, but contrary to this, their customer service is quite satisfactory. Traders can reach them through different channels like email, Skype or by phone. What is amazing is that their response time is within 15 minutes and traders can expect their problems solved within 24 hours. The company is also dedicated to their educational centre (video journals and articles) which is great for those who have no previous knowledge in trading.
Conclusion: IC Markets Australian Forex Broker Review
In concluding our IC Markets Australia review, traders can be confident that the services they will receive are of the highest possible standard. The broker is listed on the global top 10 forex broker list. Traders have access to tight spreads, liquidity, pricing and a good customer service. They are the best choice for traders looking for an Australian based Forex broker but are not our number one choice due to their spread fees being ever so slightly higher than that offered by Pepperstone.
About Compare Forex Brokers
This forex broker comparison and IC Markets Australian Forex broker review was conducted on July 23rd 2017 based on resources collected from forex broker websites. In case you have any suggestions for changes please contact us through the contact form on our website.
IC Markets Review
IC Markets is an established player in the Australian Forex industry, trusted since 2007.
Reviewed by Noam Korbl