Since 2007 in Sydney, IC Markets has become one of Australia’s largest forex forex trading provider offering:
– The highest leverage level
– A comprehensive range of advanced forex platforms
– Fast Execution Speeds
– Low spreads and commissions
What Leverage Does IC Markets Offer?
Pepperstone offers the highest leverage level of the best forex brokers at 500:1
This high level of forex is critical for expert Australian forex traders who want to maximise their profit from market movements. A $500 deposit for example would result in $250,000 being traded on the market at this leverage level. Naturally, with this level of leverage is a currency pairing moves in the wrong direction you can lose your deposit or even go into negative balance. Therefore, if you trade at this level you should be an advanced trader and understand the risks that high leverage presents. If your less confident you may want to choose a lower leverage level and implement stop/loss orders to pre-set the amount your willing to lose on a trade.
How IC Markets Has Superior Technology & Execution Speeds
IC Markets has gained it’s reputation due to unique partnerships with the worlds best technology companies. This has allowed tools to be introduced including:
- DoM (Depth of Markets)
- Inbuilt Spread Monitoring
- Ladder Trading
- Automatic Close Of Traders
Optic Fibre from Sydney to Equinix New York Facility (just next door to Wall Street) ensures that execution speeds are maximised and latency is minimised for those using the MetaTrader platform. For those who prefer cTrader the LD5 data centre is in London which is ideal for traders with other Europe liquidity providers.
Both the LD5 Data Centres used by cTrader in London and the Equinix NY4 used by MetaTrader are home to over 60 exchanges & trading platforms, 150+ financial service providers, 400+ buy and sell side firms, 675+ network bandwidth options.
What Forex Trading Platform Is Offered By IC Markets?
IC Markets offers the best range of leading forex platforms to Australian forex traders.
The platforms offered are:
MetaTrader 4 is Australia’s most popular platform due to it’s user-friendly and feature-rich interface. Australian forex traders can customise their trading environment to suit their needs.
MetaTrader 5 is also planned to be shortly rolled out by IC Markets offering level 2 prices (improved market depth), the ability to aggregate open positions and the introduction of both ‘sell stop limits’ and ‘buy stop limits’.
Our IC Markets Forex Trading Review found that cTrader was the choice platform for the most advanced forex traders. This was due to the platform performing strong with the forex brokers Electronic Communication Network (ECN) producing superior speed and advanced liquidity.
While the platform may be less user friendly, it has enhanced functionality with inbuilt DoM (depth of market) and VWAP trading. As mentioned earlier, traders are executed in the LD5 data centre in London and is ideal for day traders.
3) Multi Account Manager
Our IC Markets Forex Trading review found this broker was the only one to offer a multi-account manager. This communicates directly with the MetaTrader 4 server and utilises EAs (expert Advisers) through multiple accounts managed for the singular interface.
IC Markets Forex Trading Account Spreads & Commissions
IC Markets does not have a dealing desk (known as a market maker). This means no interference what what could be termed ‘wholesale’ spreads.
IC Markets holds the financial services licence number 335692 under the official trading name ‘International Capital Markets Pty Ltd’. This means you can trade with confidence with the forex broker needing to obey by regulations such as clients account being segregated in a separate Australian account and a requirements to meet a set training threshold.
Our IC Markets Forex Trading Review Conclusion
IC Markets is an ideal forex broker for those expert or advanced forex traders who want low spreads and commissions, high leverage and an advanced forex trading platform. The only downside of the forex broker is that they don’t offer the best training for new traders and don’t offer ‘guaranteed stops’ to limit losses in volatile markets. It’s these factors which is why beginner traders should view some other forex trading Australia options on our comparison tables.
This IC Markets forex trading review was updated on the 12/03/2017 based on our forex trading Australia comparison table and the our forex broker tables. The data came from the forex brokers websites and other third party sources. Feel free to provide feedback if you feel this review or the comparison tables could be updated through our contact us form.
About This IC Markets Forex Trading Review
All reviews and comparisons compiled on this website take weeks sometimes even months to finalise. First we explore information available on the brokers we review’s websites. We then corroborate that information with anything we might find on other review sites. Finally we experiment with the broker’s software and keep a close eye on their customer service during our interactions with their company. Once we put together all the data, we benchmark the Forex broker against competitors in the industry. As this is all a very manual process, mistakes do pop up from time to time. If you notice any inconsistencies please don’t hesitate to let us know. We take much pride in the accuracy of information available on Compare Forex Brokers. As a result we update our website frequently so we can promote quality FX broker information at all times.