IC Markets Australia – Is It a Good Broker in 2023?

Welcome to the world of forex trading, where choosing a reliable broker can make or break your success. As we enter 2023, it’s time to take a closer look at IC Markets Australia and determine whether it’s still one of the best brokers in the industry.

With its low spreads, advanced trading platform, and impressive reputation, IC Markets has been a popular choice among traders for years. But is it still worth your investment? Let’s find out together in this comprehensive review of IC Markets Australia.

IC Markets offers low forex fees, making the account opening process easy and fast. Investors choose three leading forex trading platforms when trading on IC Markets: MetaTrader 4, MetaTrader 5, and cTrader.

Introduction to IC Markets Australia

IC Markets is an Australian-based online forex and CFD broker, which was established in 2007 by a group of entrepreneurs with a vision to create an international FX brokerage company.

The company’s headquarters in Sydney is regulated by the Australian Securities and Investments Commission (ASIC).

IC Markets is one of the leading brokers in Australia and offers its clients a wide range of tradable products, including forex, CFDs, metals, energies, and indices.

The company prides itself on offering some of the lowest spreads and commissions in the industry. IC Markets offers its clients the MetaTrader 4 (MT4) trading platform, one of the world’s most popular trading platforms. The MT4 platform is available for desktop, web, and mobile devices.

IC Markets also provides its clients access to Myfxbook AutoTrade, a social trading platform that allows traders to copy the trades of other successful traders.

What Makes a Good Broker?

Choosing a good broker is an important decision for any trader or investor. There are many factors to consider when choosing a broker, including fees, account types, customer service, and trading platforms.

When it comes to fees, IC Markets Australia is very competitive. They offer low spreads on major currency pairs and don’t charge commissions on most trades.

Account types include standard and demo accounts with no minimum deposit requirements, perfect for practice and testing strategies.

Customer service is excellent at IC Markets Australia. They have a dedicated team of customer support staff available 24/5 via live chat, email, and phone.

The platforms offered include the popular MetaTrader 4 and cTrader platforms, which are ideal for advanced traders.

IC Markets Australia is a great choice for beginner and experienced traders looking for a reliable and competitively priced broker.

IC Markets Australia: General Information

IC Markets Australia supports many currencies and offers high leverage and low spreads. The broker also offers many currency pairs. To open an account with IC Markets, you need a minimum deposit of $200.

• Account currency: USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC
• Minimum deposit: $200
• Leverage: From 1:1 to 1:500
• Spread: From 0
• Instruments: 60 currency pairs, futures, CFDs on indices, commodities, metals, stocks, and bonds

IC Markets Australia Pros and Cons

Pros

•Low forex trading fees

•Quick and easy account opening process

•Free deposits and withdrawals

•Highly regulated by major financial authorities, including the Australian Securities and Investments Commission (ASIC)

•ECN trading platform, which means faster execution of trades

•High leverage

Cons

•No investor protection for traders who aren’t in the European Union

•Not FCA regulated

Is IC Markets Australia Regulated? Is This Сompany Safe?

The following financial authorities regulate IC Markets:

• Australian Securities and Investments Commission (ASIC)
• Cyprus Securities and Exchange Commission (CySEC)
• Financial Services Authority of Seychelles (FSA)
• Securities Commission of the Bahamas (SCB)

IC Markets has a local office in Sydney, Australia, and is regulated in Australia. Therefore, Australian clients can enjoy the protection of a local financial authority when depositing their funds with IC Markets.

IC Markets Australia Review

IC Markets is a highly reliable forex broker offering some of the industry’s lowest fees.

The broker offers favorable trading conditions, great educational tools, high security that protects client funds, and a wide range of trading instruments.

Trading Conditions

IC Markets offers its clients favourable trading conditions that allow traders to take advantage of high leverage and low trading fees.

As a result, they can maximize profits and earn more on the platform.

Australian clients can get up to 1:30 leverage on the platform. This allows traders with minimum deposits to cover margins and magnify gains.

The broker can offer low fees because it’s an ECN broker for the electronic communications network. This means that IC Markets uses multiple liquidity providers (over 25). As a result, the platform’s spreads remain tight and liquidity deep.

Educational Tools

IC Markets has been around for many years, which allows the platform to offer plenty of educational materials.

These include technical analysis reports, video tutorials, informational tools, webinars, and more.

These educational tools can be incredibly helpful for beginner traders and even investors with much trading experience.

Account Types

IC Markets offers various account types for traders when they sign up. There are three main account types, which include:

• cTrader Account
• Raw Spread Account
• Standard Account

The accounts are available in multiple currencies (up to 10). Muslim traders who follow Sharia law can sign up for a swap-free or Islamic account with IC Markets.

Beginner traders who want to learn the ropes can open a risk-free demo account without sacrificing their real money.

Trading Instruments

IC Markets offers many trading instruments, which include:

• 60 currency pairs
• Futures
• CFDs on indices
• Commodities
• Metals
• Stocks and bonds

Is IC Markets Australia a Good Broker? 

Regulatory Compliance and Security

As a regulated broker, IC Markets must comply with several strict financial regulations.

This includes maintaining segregated client accounts, providing negative balance protection, and adhering to the Financial Services Compensation Scheme (FSCS). These measures protect clients’ funds if IC Markets becomes insolvent.

In terms of security, IC Markets uses industry-standard SSL encryption to protect all client data. Client funds are also held in segregated accounts with major banks. IC Markets is a safe and secure broker that clients can trust.

Trading Platforms and Tools

There are many different types of trading platforms and tools available to investors.

Some platforms are more user-friendly than others. Some have more features than others. And some platforms are better suited for certain types of trading than others.

When it comes to online brokers, one size does not fit all.

That’s why it’s important to find a broker that offers a platform and tools that fit your specific needs as an investor.

IC Markets is an online broker that offers various trading platforms and tools.

In this article, we’ll look at some of the features of IC Markets’ platforms and tools to help you decide if they’re right for you.

Fees and Commissions Structure

IC Markets offers a highly competitive fees and commissions structure. Most asset classes charge a flat commission of $3.50 per lot traded. This is significantly lower than the industry average, typically around $7 per lot traded.

In addition, they offer discounts for high-volume traders, with commissions as low as $0.01 per lot traded for trades of more than 1 million units.

 IC Markets also offers very tight spreads on most asset classes. Their average spread on major currency pairs is just 0.1 pips, among the industry’s lowest. They also offer commission-free trading on CFD products, such as indices and commodities.

Customer Support

When it comes to customer support, IC Markets is second to none. The broker offers 24/7 customer support via live chat, phone, and email. The customer support team is knowledgeable and always willing to help. I have never had a problem that they couldn’t solve.

One of the best things about IC Markets is that they offer toll-free phone numbers for residents of Australia, China, Hong Kong, Indonesia, Japan, Malaysia, New Zealand, Singapore, South Africa, and Thailand.

This is a big plus for traders in these countries who would otherwise have to pay international calling rates.

Research & Education

IC Markets is one of Australia’s leading online forex brokers, offering a wide range of CFD products, including Indices, Metals, Energy, and Cryptocurrencies.

The broker has won numerous awards, including “Best MT4 Broker” at the UK Forex Awards 2019 and “Best ECN/STP Broker” at the International Business Times Trading Awards 2018.

 IC Markets is dedicated to providing its clients with the best trading experience. The broker offers 24/5 customer support, tight spreads from 0.0 pips, and fast execution speeds. IC Markets also provides free educational resources to help traders improve their knowledge and skills.

Final Verdict on IC Markets for Australians

IC Markets Australia is a well-known and highly esteemed forex broker in Australia. It has earned its reputation through years of providing customers with reliable, secure, and efficient trading services.

As the world moves forward into 2023, IC Markets Australia looks set to remain one of the country’s top brokers, and those looking for an experienced and trustworthy partner should certainly consider joining their ranks.

With a wide range of tradable markets, a competitive fee structure, an excellent customer support team on hand 24/7, and flexible deposit options, it’s easy to see why so many people trust this broker with their money.

FAQ’s

1. What are IC Markets? 

IC Markets is an online broker that offers trading in forex, CFDs, and commodities.

2. Who can trade with IC Markets? 

Traders from all over the world can trade with IC Markets.

3. What are the advantages of trading with IC Markets? 

 Trading with IC Markets has many advantages, including low spreads, fast execution speeds, a large selection of tradable instruments, and excellent customer support.

4. Are there any disadvantages to trading with IC Markets? 

The main disadvantage of trading with IC Markets is that it only accepts clients from the USA. Other than that, there are no significant disadvantages to mention.

5. Is IC Markets a good broker in 2023? 

Based on the quality of its services and features, IC Markets is considered one of the best brokers available in 2023.

6. What type of accounts can I open with IC Markets? 

You can open a standard account, a true ECN account, or an Islamic account.