IC Markets Broker Review
About IC Markets
IC Markets is a broker based in Australia. They are regulated by the Australian Securities and Investment Commission, which means that your funds are held in a segregated accounts, so should anything happen to IC Markets as a business, generally, your money would be available to you. (Unlike in cases of unregulated brokers).
IC Markets is an extremely flexible broker, offering trading in a number of markets including Forex, Stocks, Indices & Commodities.
What’s Good About IC Markets
I have personally traded with a lot of brokers over the years, and it has taken me a long time to settle on one good broker.
What is so good about IC Markets?
Well, first of all, they are regulated. Unregulated brokers have their place within trading, particularly if you are in a country that has strict laws to adhere to when it comes to leverage, but generally, you want your funds protected should anything happen to said broker.
This was one of the main reasons I transferred to this broker for my own personal trading. Being based in the UK, leverage laws were tightened up, meaning we could basically only trade with a very small leverage as a retail trader. Which meant a choice, go unregulated and risk funds, or find a broker regulated outside of the UK.
IC Markets leverage sits at a comfortable 1:500.
Of course, this wasn’t my only criteria for finding the best forex broker, I also looked at a number of other things. Clearly tight spreads is very important, and I compared IC Markets to 12 other brokers, they came up second on the list in terms of average spread (the broker first on the list was an unregulated broker.)
I had also had serious issues in the past with deposits and withdrawals, but I am happy to report IC have multiple, very fast deposit options, and my average withdrawal time was 3 days. They even accept Paypal!
They also have amazing customer service, live chat is available, and if you do have to email, the response time is usually within 24 hours.
Of course, one of the things people often dislike brokers, is the control of their trades. IC Markets allow any strategy including hedging, and there is no requotes or price manipulation and with multiple platforms available including MT4, MT5 and CTrader, they offer a wide variety of service to meet the needs of any retail trader.
IC Markets also boast a True ECN account, this basically means you have fast execution and less latency than a standard forex account.
So, yes, after years of trialling different brokers, I feel I have finally found a great option for a large section of retail traders.
Yes, one, disappointingly, at the time of writing this article, IC Markets is not open to traders in the United States, due to legal restrictions over there.
I am hoping this will be something that in time, can be rectified, as this is a fantastic broker with a lot to offer.
There is an exception to this rule. If you are based in the US, but have a very large sum to invest, you can apply for Qualified Eligible Participant status with IC Markets.
How Do I Get An IC Markets Account?
The first step is to CLICK HERE and sign up for your broker account.
I have recorded a video below showing you how to get set up.
If you are based in the US and IC Markets is not an option for you at this time, then make sure you head on over to our brokers page to discover more great brokers!