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.

  1. IC Markets

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 regulationCyprus, Australia, Seychelles
💰 Trading fees classLow
💰 Inactivity fee chargedNo
💰 Withdrawal fee amount$0
💰 Minimum deposit$200
🕖 Time to open an account1 day
💳 Deposit with credit/debit cardAvailable
👛 Depositing with electronic walletAvailable
💱 Number of base currencies supported10
🎮 Demo account providedYes
🛍️ Products offeredForex, CFD, Crypto
AssetsFee levelFee terms
EURUSDLowMetaTrader 4 Raw account pricing: $3.5 per lot
GBPUSDLowMetaTrader 4 Raw account pricing: $3.5 per lot
S&P 500 CFDLowThe fees are built into spread, 0.6 is the average spread cost.
Inactivity feeLowNo inactivity fee

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