Overview
International Capital Markets, more commonly known as IC Markets, is a leading Australian online broker that was established in 2007. This review offers a comprehensive evaluation of IC Markets, covering key features like trading platforms, financial instruments, trading costs, and regulatory status.
Trading Platforms: 17/20
IC Markets boasts three main trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. The MetaTrader platforms are widely recognized for their user-friendly interface and wealth of tools and features. cTrader, on the other hand, provides an intuitive layout and detailed order functionality.
However, like many other brokers, IC Markets lacks a proprietary trading platform, which might be a setback for traders seeking a more unique and customizable trading experience.
Markets & Financial Instruments: 18/20
IC Markets offers an impressive range of financial instruments, including over 60 forex pairs, 19 commodities, 120+ stocks, 23 indices, and a reasonable selection of cryptocurrencies.
Despite this extensive array, IC Markets falls slightly short in providing options for ETFs, bonds, and futures, which might be a letdown for certain traders.
Trading Costs: 12/15
IC Markets is well-known for its competitive spreads, starting from 0.0 pips on major forex pairs, particularly in the True ECN account. The broker does charge commissions on its Raw Spread (ECN) accounts, but they are relatively low compared to the industry standard.
Nevertheless, IC Markets imposes inactivity fees if an account remains dormant for a certain period, which could be a disadvantage for less frequent traders.
Customer Service: 13/15
Customer service at IC Markets is available 24/7 via live chat, email, and phone. The support team has a reputation for being responsive and helpful. However, wait times can sometimes be longer during peak hours, leading to minor delays.
Regulatory Status & Security: 14/15
Regulated by the Australian Securities and Investments Commission (ASIC), the Seychelles Financial Services Authority (FSA), and the Cyprus Securities and Exchange Commission (CySEC), IC Markets offers a secure trading environment. It employs robust security measures, such as SSL encryption, to protect clients’ data.
Nonetheless, it’s crucial to remember that CFDs are complex instruments that carry a high risk of losing money rapidly due to leverage.
Account Types: 8/10
IC Markets offers three types of live accounts: Standard, Raw Spread (ECN), and cTrader ECN, each catering to different trading styles and experience levels. Additionally, they offer a demo account for risk-free practice.
While the selection is satisfactory, some brokers provide a wider variety of account options, which could give traders a more tailored trading experience.
Trading Tools & Education:8/10
The broker presents a range of educational materials, including webinars, video tutorials, and market analysis. The platform’s features like MT4/MT5 add-ons, Autochartist, and VPS services enhance trade execution and market analysis.
However, IC Markets could benefit from an expansion of their educational materials, especially for beginner traders.
In summary, IC Markets stands as a strong contender in the trading industry with its wide range of financial instruments, competitive trading costs, and robust regulatory protections. Despite certain areas for improvement, its overall performance proves it as a viable choice for both novice and experienced traders.
Final Score: 90/100
Disclaimer: Trading involves significant risk and may not be suitable for everyone. This review is for informational purposes only and does not constitute financial advice. Always do your research and consider your financial situation before engaging in trading.
Keywords: IC Markets
