With time demand for trading CFDs (Contracts for Difference) has gone up tremendously. Talking about the reasons is a form of derivatives trading. Here you will deal with prices of the underlying market, not directly on the underlying market. CFDs allow the traders to trade a massive range of markets, use DMA (Direct Market Access), leverage, and more. You can dive into various financial markets, like indices, shares, commodities, and forex, without taking the assets’ ownership.
However, CFDs are very complex trading instruments and involve a higher amount of risk of losing money. Various studies have proved that around 74 to 89 percent of retail investors lose money through CFDs. So, if you are new to this or want to increase your chances of doing better trading, you can need to work with an expert. This is where IC Markets come to play.
In this article, you will get to know everything about IC Markets and how to use this trading platform effectively. So, let’s get started with it.
IC markets review
IC Markets is a well-known Sydney-based Forex CFD provider. It was established in the year of 2007 to fills the gap between institutional traders and retail traders. It is quite popular for providing new traders and scalpers with effective trading solutions. With time, IC Markets has revolutionized online forex trading.
In 2007, it was formed by a team of professionals having years of experience in the field of financial services. Now, it has emerged as one of the largest Forex and CFD providers in Australia. As per a recent IC markets review, the company is considered a safe platform as it is regulated by ASIC- Australian Securities and Investments Commission, with a registration number of AC 123289109. They offer the users the opportunity to trade a various range of assets having ECN capabilities.
However, most of the people have a question that is IC Market safe? Well, in this IC markets review, you will get to know about that.
IC Markets Scam?
As discussed above, it is a safe broker as the transactions of the company are frequently audited by the reputed external authority. It carries out the services following the rules and regulations of ASIC, the most demanding and strictest financial regulator. So, if you are a trader with IC Markets, then confidently use the platform.
Furthermore, it is also a member of the FOS- Financial Ombudsman Services. Speaking about FOS, is an Australian external dispute resolution scheme that expertise in resolving disputes between financial services providers and consumers. You might have heard about an IC markets scam, but it is now true. You can trust the platform for trading.
Registration and authorization
The platform offers new traders an easy way to open their live account. With a fast account opening, the users also enjoy instant funding. Here are the steps to- open your account.
Complete the personal information
Visit the official site of IC Markets and just click on the Start Trading option. Then you will be redirected to the online form page where you need to provide the required personal information.
Complete the live account profile
Now, you will have to set up the trading account, considering some important information like leverage, base currency, and other different parameters. Fill up all the information carefully.
Choosing the trading platform
In the next process, you will be asked to choose the trading platforms that you want to utilize. You will have to choose from cTrader, Meta Trader 4 and Meta Trader 5. Different accounts have different effects on the trading condition.
Document upload for account verification
To verify your live account, it is mandatory to upload some documents. The process is quite easy. You need to submit one ID proof (driver license or passport) and one address proof (bank statement or utility bill). All the documents need to be submitted electronically. Just press the upload button and upload them.
Once done, the activation process will begin. It will take a few times. After your verification, you can start using your live account for trading.
Want to practice for live trading? Well, IC Markets offers its users a free demo account. In fact, professional traders are also using a demo account to try out different trading strategies. Using this account, you can demo trade all the products offered by IC Markets along with market-based spreads.
You can open a demo account as many as you want, So, keep practicing through the demo accounts until you are not ready to start trading using real money. The IC markets true ecn model and low latency execution let the traders see how then can perform in the real trading world. You can even choose the leverage options with the demo account.
Deposit, commission, and bonuses
You don’t have to spend a lot of money to open a trading account with IC Markets. The company lets the users open an account with USD 2000 or equivalent currency. This is something that attracts a lot of people to use this platform. Speaking about deposit options, clients enjoy a range of options. The platform supports deposit from Skrill, Wire Transfer, Neteller, PayPal, debit or credit cards, POLI, Fasa Pay, Klarna. Bitcoin Wallet and more. However, each of them has different currency options and processing times.
It has two different Meta Traer 4 accounts. One is the Standard account, and the Raw applies a Spread account. However, is don’t charge any commission on the standard counts. It applies one pip of spread mark upon the Raw inter-bank cost received from the liquidity provider. On the Raw spread account, it commissions of USD 7 per standard lot.
Talking about bonuses, there are no such offers with this broker. However, sometimes the users can take advantage of its referral program and can earn up to AUD 100 if they are opening their account for the first time.
As per the company, each account suggests that the users can enjoy the leverage of 1:500. But This is something that depends on the account balance, experience, and the level of trading. If you are new to this platform, you should go for lower leverage. As CFD broker, it enables the traders to do trading on the borrowed money margin. That means the position can be leveraged by a particular factor.
At IC Markets, the leverage will vary based on the assets that the traders are trading. However, here is a list of breakdowns of the leverage that one can achieve on the assets.
- Crypto- 20:1
- Futures- 200:1
- Bonds- 200:1
- Commodities: 500:1
- Indices: 200:1
- Stocks: 20:1
The minimum trading leverage is 1:1. So, if you are trading for the first time, then there is no need to start with max. If you look at the list, you will find IC markets leverage factor of crypto is quite better than other CFD brokers.
As per the official notification, all the account holders need to submit withdrawal requests using their Secure Client Area for withdrawal. The withdrawal request time is 12:0 AEDT or AEST. That means if you have submitted before the given time, then the withdrawal’ application will be processed on the same day. Or else, the application will be carried out on the next business day. The platform offers various methods, but they depend on icmarkets payment methods.
The International Capital Market Sydney offers an exceptional trading experience. At the same time, you can choose from different trading parameters, which instrument you want to trade, which trading platform to use, and more. Besides, its demo account can help you in understanding all the features. So, go on and try it out now.
Head Office: IC Markets, HIS Building, Providence, Mahe, Seychelles
Global Phone Numbers: +61 (0)2 8014 4280
Toll free numbers: Australia: +1300 600 644
Reviews of traders
To know about its credibility, let’s have a look at the list of ICmarkets review.
- I have been using international capital markets, Sydney, for more than six months. The broker has helped a lot using EA, Signals, and VPS on the MT5 platform. Even though I have viewed a lot of negative reviews regarding withdrawals. But I have not faced such issues till now. I received the amount in my account within just 2 to 3 days. – King Joell.
- I would recommend other traders to use the platform. With no-cost and low spreads, international capital markets Sydney works great. I have not faced any issues in trading. The thing that I like the most is its 24×7-hour live chat window. – Marcin.
- The customer service is excellent. All the executives are quite helpful as well as friendly. They offer the best spreads and easy fund deposit and withdraw process. If you are looking for an online broker for small spreads, different instruments, and better customer support, the IC Markets is the best option for you. – John Douglas.
- It offers better platforms like cTrader, MT4 or 5, webIRESS, and more. The intuitive interface of the terminals that offers unlimited access as well as control. – Vernon Holms.