ICMarkets forex trading platform is considered one of the most reputable platforms globally. With a leading position in the industry, ICMarkets is currently one of the exchanges with the largest trading volume in Australia. The floor also attracts many traders in UK and around the world to open trading accounts. Please join Forex Trading in consulting the information in this article for a detailed IC Markets review
Is IC Markets considered reputable?
Before joining IC Markets, you should also learn detailed information about this floor. Below is some information that Forex Trading has compiled about IC Markets.
Information about ICMarkets floor
When choosing an exchange, reputation is the top thing traders care about. To IC Markets review with these criteria, there are some important criteria. ICMarkets affirms its reputation by possessing licenses from reputable financial agencies in the world.
broker icmarkets financial agencies are responsible for supervising the operations of ICMarkets, ensuring openness, transparency and protecting the interests of customers, as well as resolving complaints if any.
To receive a license from ASIC, exchanges must meet some specific conditions as follows:
- Minimum Operating Capital: Brokers must have at least $1 million in their bank account. This is the most basic condition to be granted a license.
- Ensuring separation of funds: The trading floor must ensure separation between company funds and customer funds.
- Australian Financial Securities License (AFC): Exchanges must achieve AFC certification to be regulated by ASIC.
License to participate in IC Markets
All customer funds are kept completely separate from ICMarkets assets. The exchange is also housed in separate bank accounts at leading banks in Australia. ICMarkets is not allowed to use any money belonging to customer funds for the company’s business purposes.
At the same time, auditing activities at ICMarkets are performed independently by leading auditing companies globally. This ensures transparency and accuracy in the financial transactions of this exchange.
See more: Optimize trading with IC Markets Exchange
IC Markets review
One of the strong points for IC Markets review is the variety of trading products. The exchange allows traders to access global financial markets with deep liquidity. Currently, ICMarkets offers more than 2000 products belonging to 7 different asset groups:
- Forex market, with 61 currency pairs and spreads as low as 0.0 pip.
- Commodity market, including 22 popular commodity types
- ICMarkets also provides access to the index market, with 25 major indexes such as Australia’s S&P 200, the UK’s FTSE 100, and the US E-mini S&P 500.
- With more than 9 types issued by governments worldwide. Including Japan, Europe, the UK, and the US, with deep liquidity and no commission fees.
- Market, with 21 popular cryptocurrencies such as BTC, ETH, LTC, and many more.
- ICMarkets offers futures contract trading, with 4 contract codes from around the world.
To provide customers with an advanced trading platform, ICMarkets has cooperated with leading technology companies in the world. Here, you can easily experience trading on 3 different platforms. Each platform offers unique features, but each has a mobile app that allows you to trade anytime, anywhere.
Analysis of ICMarkets trading fees
When interested in choosing a reputable forex broker IC Markets review you need to consider the license, products, and trading platform. Besides, it is necessary to pay special attention to the fees that the exchange applies. Understanding these fees is very important because if not carefully calculated, it can lead to a trader’s profits being significantly reduced or even breaking even.
Below are some fees at ICMarkets that every trader needs to know:
ICMarkets commission fee
IC Markets review on commission fees depends on the type of account you use. Trade commission-free with a standard account. However, you will be subject to higher spreads instead.
IC Markets review for Raw Spread accounts, the commission is $3 per $100,000 traded. As for Trader accounts, the commission fee is $3.5. It should be noted that commission fees only apply to trading on the Forex and metals markets. The floor will collect fees for both opening and closing orders.
IC Markets review phí Spread ICMarkets
ICMarkets offers super low spreads from just 0.0 pips. This Spread depends on the account type and specific trading product. For example, the standard account has floating spreads from 0.6 pips, while the other 2 account types have spread from 0.0 pips.
Overnight fees on ICMarkets
IC Markets review applies swap fees to your trades. You can keep it open overnight until the next trading day. This fee is charged at 00:00 hours. MetaTrader 4 Server Hours will depend on the specific currency pair the trader is using.
See more: Broker IC Markets and interesting revelations
Deposit and withdrawal methods on ICMarkets
When depositing and withdrawing money at ICMarkets, traders can rest assured of the diversity and flexibility of payment methods. ICMarkets offers more than 14 deposit and withdrawal methods, supporting 10 base currencies including AUD, USD, EUR, CAD, GBP, SGD, NZD, IPY, HKD, and CHF.
Deposit and withdrawal methods on ICMarkets
- Internet Banking
- Visa/Mastercard, PayPal
- Cryptocurrency
- Electronic fund transfer, FasaPay
- Transfer money from other brokers…
These methods make deposits and withdrawals convenient and easy.
Besides, traders IC Markets review has a fast processing time for deposit and withdrawal transactions. Statistics show that depositing money into an ICMarkets account only takes 5 to 10 minutes.
Withdrawal requests submitted before 12:00 AEST/AEDT will be processed the same day. Meanwhile, requests after this time will be processed on the next working day.
ICMarkets does not charge additional fees for deposits or withdrawals. However, customers may incur fees from their bank or card provider. Notably, ICMarkets does not accept payments from any third parties. The floor also ensures the safety of all transactions through SSL encryption technology.
summary
Above is all the detailed information about IC MarketS review that Forex Trading wants to share with traders and readers. Hopefully, this information will help people clearly understand IC Markets about the advantages and disadvantages of the floor, to make the most appropriate decision. Don’t forget to follow our website for more interesting knowledge!
FAQ
In which country is ICMarkets headquartered?
ICMarkets is headquartered in Sydney, Australia.
How many accounts can you open on ICMarkets?
ICMarkets allows users to open multiple trading accounts without restrictions. You can open additional accounts through your Client Area of the website.
Is IC Markets considered safe?
ICMarkets operates under the supervision of reputable organizations such as FSA, ASIC, CYSEC, and SCB. This ensures the transparency and reputation of the exchange. They also separate client funds from company funds. However, it is still guaranteed that customers’ money will be kept intact.
With more than 15 years of experience operating in the market, ICMarkets is not a fraudulent trading platform, but a reliable address for traders.
