IC Markets or originally International Capital Markets Pty Ltd. is one of the few successful brokers to launch out of Sydney, Australia. Founded in 2007, IC Markets has gained a profitable reputation as the best in Australia. Intended for users ranging from “bikers to bankers” or in other words, institutional investors to retail clients, IC Market is a broker made for every level of trader. IC Markets is owned and operated by International Capital Markets PTY and is known for its high offers of leverage in Australia.
Regulations and Security
IC Markets does not have the highest trust score on several sites but is regulated by one of the bigger and more trusted regulatory bodies in the world in Australian Securities & Investments Commission (ASIC) in 2009. In addition to ASIC, IC Markets is also a member of the Financial Ombudsman Service (FOS). FOS resolves majority of customer complaints, providing a further layer of protection. Knowing your complaint will be handled with upmost respect and urgency does a lot to put traders’ minds at ease. IC Markets uses the latest SSL technology to ensure your information is safe and secure.
IC Markets presents traders with a variety of options and currency choices to fund their account. Most the options come available to users in ten currencies; AUD, USD, EUR, JPY, CHF, HKD, SGD, NZD, CAD, and GBP. The choices available for deposits are:
- Bank Wire Transfers
- Credit/Debit Cards
- Broker to Broker transfers
- Branch Cash Deposit
- Bpay Deposit
- eWallets (Skrill, Neteller, Webmoney, QIWI)
- China Union Pay
Majority of the options are instant while wire transfers can take 2-3 days depending on the bank.
When you want to make a withdrawal from your IC Markets account you will have domestic bank transfers and e-wallet withdrawals. Domestic withdrawals tend to process instantly or at most in 2-3 days. For international traders, the withdrawal processes can last about 3-5 and have a cost of $25.
IC Markets presents you the trader with four different account types that are made specially to tend to the traders’ specific needs. You can select from one of the following account types: Live Demo, Standard, MT4 True ECN, or cTrader ECN.
The Demo account allows for you to gain experience and construct a trading strategy without risking any capital. Using virtual currency, you get to practice with IC Markets and their trading platforms before without risk.
Standard Accounts allow you to trade with real money and take advantage of the variety of charting tools and features offered by IC Markets. MT4 True ECN account type offers the best spreads of the 3 accounts available. This account also only runs on MetaTrader4, the most popular trading platform on the planet. cTrader ECN is the platform made around forex trading.
IC Markets offers three separate trading platforms for their traders, the always popular MetaTrader4 (MT5), MetaTrader5 (MT5), and CTrader. MT4 is the single most selected trading platform in the world, even when the new and improved MT5 was announced, traders stuck with MT4.