Forex brokers are firms that provide currency traders with access to a trading platform that allows you to buy and sell foreign currencies. Retail forex brokers handle a very small portion of the volume of the overall foreign exchange market.
IC Markets is an Australia-based global forex broker that was founded in 2007. The company has several branches and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Supervisory Authority (FSA) and the Australian Securities and Investments Commission (ASIC). IC Markets is considered safe because it is regulated by the top-tier ASIC. Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.25% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
IC Markets pros and cons
IC Markets pros and cons IC Markets has low forex fees. It also has an easy and fast account opening process, while depositing and withdrawals are free and user-friendly as well. On the negative side, IC Markets has a limited product portfolio, offering only CFDs and forex. We also received slow and irrelevant answers on live chat. Lastly, there is no investor protection for non-EU clients.
|• Low forex fees||• Limited product selection|
|• Easy and fast account opening||• Slow live chat support|
|• Free deposit and withdrawal||• No investor protection for non-EU clients|
IC Markets main features and highlights
|🗺️ Country of regulation||Cyprus, Australia, Seychelles|
|💰 Trading fees class||Low|
|💰 Inactivity fee charged||No|
|💰 Withdrawal fee amount||$0|
|💰 Minimum deposit||$200|
|🕖 Time to open an account||1 day|
|💳 Deposit with credit/debit card||Available|
|👛 Depositing with electronic wallet||Available|
|💱 Number of base currencies supported||10|
|🎮 Demo account provided||Yes|
|🛍️ Products offered||Forex, CFD, Crypto|
|Assets||Fee level||Fee terms|
|EURUSD||Low||MetaTrader 4 Raw account pricing: $3.5 per lot|
|GBPUSD||Low||MetaTrader 4 Raw account pricing: $3.5 per lot|
|S&P 500 CFD||Low||The fees are built into spread, 0.6 is the average spread cost.|
|Inactivity fee||Low||No inactivity fee|