Is IC Markets Really a Trustworthy Firm?

Is IC Markets Really a Trustworthy Firm?

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This IC Markets review is a result of months spent with the brokerage firm. The review team had performed a comprehensive review of all the firm’s offers and services to render a detailed and pointed assessment of IC Markets’ capabilities. To serve the cause, the review team had looked into the following aspects of the firm’s service:

1. The regulatory bodies that sanction all of IC Markets’ trading activities

2. The firm’s trading instruments offerings

3. The trading accounts available to IC Markets’ clients

4. The trading platforms being offered by the firm

Is IC Markets Really a Trustworthy Firm?

About IC Markets

Established in 2007, IC Markets is a brokerage firm that provides access to a wide range of assets across numerous asset markets. However, it is for a fact that the firm had only started being regulated in 2009. Being based in Australia it takes cues from the Australian Securities & Investments Commission (ASIC). The firm’s legitimacy is furthered through its Australian Financial Services Licence (AFSL), allowing IC Markets to legally function as a financial service provider within Australia. 

Client and data security are effectively protected through IC Markets’ membership of the Financial Ombudsman Service (FOS). This membership makes the firm’s clients privy to an additional level of protection specifically through the capability of filing necessary disputes between the brokerage and its clientele.

The European arm of IC Markets, IC Markets (EU) Ltd. is being regulated by the Cyprus Securities and Exchange Commission (CySEC). IC Markets (EU) has its base of operations in Limassol, Cyprus.

Being duly registered in Seychelles, IC Markets operates as Raw Trading Ltd. IC Markets’ trading entity.  IC Markets Global observes the strict rules and regulations of the Financial Services Authority of Seychelles. Meanwhile, the company’s live site is being supervised by IKBK Holdings Ltd. also in Limassol, Cyprus.

IC Markets’ industry experience and the number of financial regulatory bodies that the company follows, assures traders of the firm’s legitimacy. It is easy to assume security when enlisting the firm’s services. As this is the case, this review is being lodged so as to detail other possible benefits clients or interested parties may be able to get from signing up with IC Markets. 

Is IC Markets Really a Trustworthy Firm?

Offers and Services

Accessible Trading Instruments

In an earlier segment, it had been mentioned that the firm offers an array of trading instruments for its clients. The asset classifications alongside the specific assets to trade are specified here:

Number of AssetsAssets
300+ CFDsCurrencies, Stocks, Futures, Index, Commodities.
60+ Currency PairsMajor and minor world currencies
15 Indice Cash CFDs StocksBaskets of different blue-chip
2 Indice FuturesU.S. Dollar Index, US Volatility Index
6 Metal Spot CFDsGold, Silver, Palladium and Platinum
3 Energy Spot CFDsCrude Oil (WTI, Brent) and Natural Gas
2 Energy FuturesCrude Oil (WTI, Brent)
5 Soft FuturesCoffee, Corn, Soybean, Sugar, and Wheat
9 Bond FuturesU.S., U.K., J.P., German, and Italian government securities
110+ Stock CFDsAU and U.S. companies Shares

Offered Trading Platforms

IC Markets offers three trading platforms that its clients may do trades through. These are detailed here:

MetaTrader 4 (MT4)

Speedy in trading executions, MetaTrader 4 (MT4) is seen by the online trading community as one of the most effectively-functioning trading software in the industry. Given this, the platform is used and reviewed by many. It had received a great deal of positive testimonies and assessments that the review team agrees with. 

The many offerings that the MT4 platform includes one-click trading, a wide range of technical indicators, charting tools, and a number of Expert Advisors (EAs) that permits automated algorithmic trading. Advanced order types are also being offered through this platform.

MetaTrader 5 (MT5)

An upgraded version of the MT4 platform, MT5, while not as popular as its forerunner, provides a great deal of gratuitous features like wholly flexible lot sizing, a number of funding and withdrawal options, tight spreads, and market depth among many others.

cTrader 

cTrader’s specialty is the offering of Raw Spread trading environments. Automated trading is permitted through its provision of ZuluTrade, Myfxbook’s AutoTrade, and Signal Trader which is capable of performing mirrored trading.

Available Trading Accounts

There are 3 accounts available through IC Markets these accounts are as follows:

1. Raw spread Account

Available through the Raw Spread Account are both of the MetaTrader trading platforms. The spreads here start at 0 pips. The commissions provided for trades are at $3.50 and leverage of 1:500 is offered. It is to the opinion of the review team that the Raw Spread Account is fit for Expert Advisors (EAs) and scalpers.

2. cTrader Account

As already declared, the offering of a Raw Spread environment is the flagship feature of the cTrader platform. The Spreads that are available through this account start from 0 pips. 

One thing that the review found to be wholly positive about this account type is that its order execution is ultra-fast. The leverage is equally competent at 1:500. The commissions provided through this account are at $3.00. 

On top of these, the account provides a strict STP environment. The cTrader account is created mainly for Day Traders and Scalpers.

3. Standard Account

As the name suggests, the Standard Account is the most basic among the accounts offered by IC Markets. The Spreads for this account type starts at 1 pip. There are no offered commissions and the leverage is at 1:500 provided through the MetaTrader platforms.

Is IC Markets Really a Trustworthy Firm?

Trade With IC Markets Today!

The points laid through this discussion regarding the IC Markets paint a positive image for the brokerage. This is quantified through the services examined by the review team that is found to be conducive for the administration of lucrative trades:

1. The firm’s regulatory status

2. The wide range of trading instruments the firm offers access to

3. The trading accounts that the firm provides its clients to pen

4. The efficiency of the trading platforms that clients can use