IC Markets: The Best Forex Broker Account For Advanced Traders
In April 2018 Compare Forex Brokers finalised our 3-month research into the best Forex trading Australia accounts with IC Markers clearly coming out on top. When taking into account elements such as high leverage (for trading on margin), super fast order execution, strict Australian regulation and the variety of Forex platforms available it was pretty easy to see why IC Markets came out on top as the number 1 company for advanced, high risk tolerant traders among all reviewed forex brokers. IC Market’s main selling points for advanced traders includes:
- The highest leverage of 500:1 by the major Australian forex brokers
- The equal fastest execution speeds for Australian forex traders
- No Dealing Desk
- cTrader & MetaTrader platform availability
- Stop loss orders
Our high leverage forex trading Australia account comparison initially started with a list of 10 – 15 of Australia’s best forex trading Australia brokers. Over time, through some in depth research this list was dwindled down to a ‘Top 5’ only. Read our extensive recommendation of IC Markets below to see why we branded them Australia’s best Forex trading Australia account.
IC Markers Offer The Highest FX Leverage
Traders with an expert knowledge of the market and understand the risk return trade off of leverage will be well suited to IC Markets. We recommended IC Markets to expert traders mainly because the company offers the highest leverage available. This has been matched in recent times by ThinkMarkets & CMC Markets too.
Expert traders will be well versed in how to use leverage wisely to magnify their profits. However, for those in two minds about whether trading Foreign exchange with as high as 500:1 leverage take the following into account. A $100 trade at 500:1 leverage means you control $50,000 worth of currency. If that currency pair moves in your favour by 0.1% a profit of $50 would be made or 50% improvement on your initial $100. If market prices move against you however, your entire investment could be wiped out. Know the risks before you proceed with high leverage.
IC Markets Offer The Lowest Spreads For Advanced Traders
If using the advanced Forex trading Australia account with IC Markets, advanced or expert traders can take advantage of the extremely low spreads on offer with the broker. A quick review of the below tables highlights that spreads start at just 0.0 Pips with the popular AUD/USD pairing spread starting at 0.4.
While it is true that a number of the top Forex companies such as Pepperstone offer equally low spreads, IC Market’s 500:1 leverage gives advanced traders with high risk thresholds the ability to take even greater advantage of these low prices.
Trading Platforms Available With IC Markets
At Compare Forex Brokers we absolutely love a smorgasbord of features offered by Forex brokers. The beauty of IC Markets is that they offer a plethora of Forex trading Australia accounts and Forex trading platforms. The choice of platform includes the market leading MetaTrader 4 and MetaTrader 5 platforms as well as cTrader.
Top Notch Customer Service With IC Markets
IC Markers Customer Service is available for contact 7 days a week, 24 hours a day. Methods of contact include email, live chat and call back. 24 hours customer support makes IC Markets suitable for all investors not only advanced trader who make be looking to buy and sell outside standard trading hours but beginner traders who may have currency trading questions.
IC Markets have other tools in addition to customer support which will be very useful. This includes a Help Centre which has a FAQ section to answer all your common questions and glossary to familiarise yourself with common fx terms. There is also an education library which includes video tutorials, web tv and a getting started in 10 lessons blog series.
IC Markets charge no fees for Deposits and Withdrawals
IC Markets offers a very wide choice of methods for deposits. You can transfer your funds securely using the credit cards such as Visa, Mastercard without a commission charge. In additional to credit cards you can also use services such as PayPal, Skrill, Neteller and BPay.
When it comes to Withdrawals, request for withdrawal must be done within the secure client area of your IC Markets Account. if request is done before midday then processing will be done on the same day. IC Markets do not charge any fees for withdrawals however the funding provider may. For example Internal Bank Wire Transfers incur a $20 AUD charge from the banking institution. Transfers will then take 3-5 days to be received in your account. No charges however are applied for domestic transfer or credit and debit card transfers.
IC Markets has a great reputation
Having a quick look at IC Market’s reputation on a whole bunch of review websites, our team found that consumer confidence in IC Markets was incredibly high. A popular 3rd part review site ranked the company 85.6 out of 100 overall and their Forex trading Australia account was credited for that score.
How We Put Together Our Forex Trading Australia Comparison For Advanced Traders
The best advanced, high leverage forex trading Australia account comparison table was created by our dedicated team of Forex professionals. Combined we have 10 years of experience working in the Forex industry and have spent 6 months analysing the industry and critiquing its best players. We created the best broker comparisons for traders looking for low fees, high leverage and also based on risk profile and level of expertise. All brokers included on this website must be regulated and certified. IC Markets holds an Australian Financial Services Licence having set up shop in Australia in 2009.
Please note, the above forex trading Australia account information is put together manually with zero automation. As a result the data provided here might have some minor errors. We recommend that before signing up to an FX broker and double check the information here with the relevant provider’s website. It is a good idea open an account and do some fx trades using a demo account before investing money of your own.