IC Markets Is The Best MetaTrader Broker In Australia
On January 7th 2016 a comparison of MetaTrader forex brokers found IC Markets to offer the best value to their:
Fast execution speeds using MetaTrader 4
Low commissions and spreads from 0.0 pips
High Leverage level of 500:1
Strong Customer Service
How Does IC Markets Offer Fast Execution Speeds?
1) NY4 Data Centre & Servers
Next to Wall Street, NY4 is an IBX Data Centre run by Equinix, a NYSE listed technology company. With over 150 financial service providers and 60 exchanges, it is one of the most reliable and data centres worldwide.
By having all these participants of financial markets in the one place the latency can be reduced with dedicated lines minimising latency and the resulting slippage.
2) Fibre Optic Line
IC Markets utilises dedicated fibre optic tables that cross connects their ECN to liquidity providers.
Latency can be further improved through Beeks VPN with Ping times of less than 0.5 milliseconds to the NY4 servers.
3) Other Technology
By partnering with other technology providers, IC Markets has been able to see utilise other tools including spread monitoring, Depth Of Market and spread monitoring. Their mobile platform has also been optimise to execute the fastest speeds possible..
How Low Are IC Markets Spreads?
IC Markets has two accounts that offer the MetaTrader forex broker platform. The standard account has no commissions but higher spreads which for the EUR/USD pairing averages at 1.1 pips. The secondary account is called ‘True ECN’ and while it has a commission rate of $3.50 per lot the spreads are near zero. For example, the EUR/USD averages at 0.1 pips.
High volume traders normally opt for the true ECN account due to the lower spreads which overall have reduced trader costs despite the commission levels.
What Leverage Does IC Markets Offer?
IC Markets offers 500:1 leverage which is the equal highest of the mainstream Australia MetaTrader brokers.
500:1 means that for a $200 deposit you could trade up to $10,000, dramatically increasing your risk profile and potential to make profits. There are no safeguards such as guaranteed stops or negative balance protection as a true ECN. This means that only experienced traders with a high risk appetite should consider accepting the highest leverage available with the Australian fx broker.
What Customer Service Levels Are Available?
The strongest part of IC Markets is their 24 hours support offered five days a week while currency markets are open. The customer service team are actual forex traders with experience unlike some other forex brokers that hire less skilled individuals. There is also an education hub online including video tutorials to help improve individuals forex trading strategies.
There are also news resources and a forex calendar to keep their traders ontop of world events and to ensure they are informed or market sensitive announcements that lead to currency fluctuations.
Background to this MetaTrader Broker Comparison.
Compare Forex Brokers was created in 2014 and has created a number of forex broker comparison tables based on different features from leverage to spreads. The comparison table about focuses on MetaTrader brokers including MT4 providers and is similar to the previously made best forex broker table that focused on high leverage providers.
All brokers compared on compare forex broker are regulated locally in Australia and have an Australia Business or Company number. While there are a plethora of brokers only the most credible were picked based on reputation and market share to ensure traders can feel confident with the broker chosen.
All information on this site comes from the providers website and third party sites where reviews and insights are made. The owners of the site also have MetaTrader brokers accounts to provide further insights into broker selection. No automation was used in the site and while pages are regularly updated there may be occasions where brokers change information (for example leverage) which hasn’t been reflected on this site. Based on this compare forex brokers should be used as a guide only and users are always directed to providers sites to sign-up providing an opportunity to verify all the information shown on this site.