IC Markets Review
For Australian Traders
!! Regulator Warning !!
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.33% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
IC Markets does not have instant withdrawals for most methods especially bank withdrawal method, it took about 5 days for me to get my withdrawal. I didnt expect this from ic markets
Very fast execution speed and their customer support is good
Im glad they accept mpesa now and their cuatomer support is so good
IC Markets has so many stock CFDs and I love it, okay I know not many Chinese stock CFDs are available but its still great.
The Ultimate Broker! IC Markets checks all the boxes for me and I recommend them to anybody reading this.
I heard so much about IC Markets before deciding to trade with them and I have not regretted it since trading with them for 3 years now. The spread is low, platforms are good and withdrawals are fast
this broker is definitely underrated. IC Markets is a good broker as per my experience and they have low spreads and quick execution. The only issue I would say they have is limited base currencies.
A native Australian Forex Broker with ASIC regulation & no minimum deposit
| 👨 Broker | INTERNATIONAL CAPITAL MARKETS PTY. LTD. |
| 👨 Trading Name | IC Markets |
| 👨 Accepts Australian Traders? | Yes |
| 👨 Founder | Andrew Budzinski |
| 📅 Founded | Australia |
| 📅 Year Founded | 2007 |
| ⚖ Regulators | ASIC |
| ⚖ License No. | 335692 |
| ⚖ AFCA Member | Yes |
| 📈 Instruments (CFD & Spread Bet | Forex, Commodities, Indices, Bonds, Crypto, Shares, Futures |
| 🚀Leverage | 1:30 |
| 🔎Auditors | LNP AUDIT AND ASSURANCE PTY LTD |
| 💻 Platforms | MT4, MT5, cTrader,TradingView |
| 📋Account Types | MetaTrader Standard, MetaTrader Raw, cTrader Raw |
| 💰 Minimum Deposit | $0 |
| 💰 Minimum Withdrawal | $0 |
| 💰 Withdrawal Fee | $0 |
| 💱Base Currency | AUD |
| 📞Live Support | 24/7 |
| 🏖️Inactivity Fee | $0 |
| ✅Reason To Trade | |
| ❌Reason To Avoid |
Regulation & Trust - 5/5
Is IC Markets Available in Australia?
Yes, IC Markets is available in Australia & is also regulated by the Australian Securities & Investment Commission (ASIC).
Here in Australia, IC Markets is also a member of the Australian Financial Complaints Authority (AFCA).
IC Markets accepts Australian traders & registers their trading accounts under local Australian law.
Which Countries are Banned from IC Markets?
United States of America, Israel, New Zealand, Iran, North Korea (Democratic People's Republic of Korea), Canada and Brazil.
Range of Markets - 5/5
IC Markets leverage is up to 1:30 in Australia.
- 61 Forex CFDs with up to 1:30 leverage
- 25 Index CFDs with up to 1:20 leverage
- 20 Commodity CFDs with up to 1:20 leverage
- 2,100 Stock CFDs with up to 1:5 leverage
- 9 Bond CFDS with up to 1:5 leverage
- 21 Crypto CFDs with 1:2 leverage
- 4 Futures CFDs with 1:10 leverage
Range of Accounts - 5/5
1. Standard Account
the IC Markets Standard Account is a zero-commission account that is designed for beginners. Here spread is the only major trading fee you pay.
2. MT4/5 Raw Spread Account
This is a raw spread account meant for the MetaTrader platforms. You must pay commissions on every trade since you will be getting near zero spread pricing on majors.
3. cTrader & TradingView Raw Spread Account
This is a raw spread account meant for the TradingView & cTrader platforms. You must pay commissions on every trade since you will be getting near zero spread pricing on majors.
The commission on the cTrader/TradingView raw account is usually lower than that on the MetaTrader account.
Funding & Withdrawals - 5/5
What is IC Markets Minimum Deposit in Australia?
IC Markets minimum deposit is a flat $0 across all their account types.
This means you can open the Standard, Raw Spread, & cTrader Account types with any amount.
Can I Deposit in AUD Currency?
Yes IC Markets supports AUD deposits via various methods.
Does IC Markets Accept PayPal in Australia?
Yes, IC Markets Australia accepts PayPal as a means of deposit & withdrawal.
Does IC Markets Accept Broker to Broker Transfer
Yes, IC Markets Australia allows broker to broker transfers
Which Other Deposit Methods Does IC Markets Accept?
IC Markets accepts deposits via Visa/Mastrercard, Bank Wire, Neteller, Skrill & BPay
Can I Deposit $10 on IC Markets?
Yes, you can deposit $10 on IC Markets but your first deposit into your account must be $200.
How Do I Make A Deposit?
To initiate a deposit, login to your secure client area (client login) on the IC Markets Australia website, click on deposit & select your preferred method.
How Long Does IC Market Withdrawal Take?
What is the Minimum Withdrawal from IC Markets?
IC Markets minimum withdrawal is $0.
Your withdrawal will be accepted as far as the requested amount is not higher than your account balance.
How Do I Withdraw From IC Markets?
Visit the IC Markets website, login to your secure client area, click on withdraw, select preferred method & fill out the withdrawal form.
Account Management - 4/5
Margin Call & Stop Out
You will get a margin call when your margin level falls to 100%, and stop out happens when your margin level falls to 50%
Negative Balance Protection
Your account cannot go into negative balance due to trading volatility or network errors. If it does, IC Markets will offset the negative balance and restore your account balance back to zero.
Account Opening Procedure
The first step is to visit the IC Markets Australia website & click on ''start trading now''
The second step is to fill in your personal details.
The third step is to configure your account by choosing a trading platform, account type, base currency, etc.
After configuring your account, review the information for correctness, accept the IC Markets declaration & submit.
Your login details will be sent to the email address you used to signup.
The final step is to click on the link in the verification email, change your password again, then you will be redirected to login to your client area to upload your government ID
After your ID is uploaded & confirmed authentic, IC Markets will activate your live trading account & you can make your first deposit.
IC Markets Fees - 5/5
Is IC Markets Spread High?
No, IC Market spreads are not high. The spreads are slightly lower than the industry averages.
EUR/USD average spread is 0.83 pips on the Standard Account & 0.03 pips on the Raw Spread Account.
However, the 0.03 pip spread on the Raw Account comes with a condition that you pay a commission of $3.5 per side per 100,000 units traded.
IC Markets Platforms - 4.5/5
MetaTrader
MT4 & MT5 is available with the Standard & Raw Account, and it comes with free upgrade EAs.
TradingView
IC Markets TradingView is only available to cTrader users.
How To Connect IC Markets To TradingView
Log in to TradingView
Visit the TradingView website, click on sign in and you get the option to sign in with your Google Account, Apple Account, LinkedIn Account, X Account, or email. elect any sign in method to proceed.
Choose an instrument to trade
To select an instrument to trade on TradingView, click on Markets and then select any instrument of choice.
Navigate To Super Charts
After choosing an instrument to trade, opt to view the instrument on Super Charts by clicking on the "see on super charts" button.
Open Trading Panel
To see a list of brokers on TradingView, click on Trading Panel.
Proceed to expand the trading panel by clicking on the expand icon by the bottom far right hand side.
Choose Your Broker
After the trading panel opens, you will see a list of all the forex brokers on TradingView.
Select IC Markets from the list of brokers and connect with your IC Markets account details.
Trading Tools - 3/5
1. MT4 Upgrade Kit
IC Markets offers free Expert Advisor tools which you can download and plugin to your MT4 to enhance its features.
2. Virtual Private Server (VPS)
IC Market offers VPS which is basically an internet connection where you can link your Expert Advisor so it runs uninterrupted & at maximum speed.
Customer Support - 4/5
1. Live Chat
IC Markets live chat is available 24/7 so you can chat with an agent even on weekends. Live chat wait times are short and agents are knowledgeable and polite.
2. Telephone Support
Australian help lines are available 24/7 but they are not toll-free.
3. Email Support
You can reach IC Markets Australia via dedicated email available on their website. Email responses come within one day.
4. IC Markets Demo Account
IC Markets offers a demo account where you can learn how to trade with virtual funds. The demo account is available on MetaTrader, cTrader & TradingView.
5. Education
IC Markets offers beginner education in the form of how to videos, webinars & podcasts.
However, IC Markets educational courses lack depth and are basically an introduction; there is no comprehensive learning academy.
Final Verdict - 8/10
IC Markets is one of the best forex brokers in Australia for scalpers. IC Markets is also good for experienced traders pursuing raw spread ECN pricing.
Beginner forex traders in Australia can also enroll with IC Markets because of their excellent customer support & low spread standard accounts; but beginners may have to look elsewhere for educational material.