IC Market Review

IC Market is a broker best suited for automated traders. Its goal for retail and institutional clients is to create an excellent trading experience, enabling them to increase their focus on their trading. IC Market is the trading name of International Capital Markets Pty Ltd, which is also known by other entities.
Elen Palmer
October 29, 2019

IC Market: Forex, Fees, Apps

The company holds an Australian financial services license for financial services business in Australia. IC Market offers fast execution and services with superior spreads. It has an order matching engine, based in New York. Over 500,000 trades are processed by Equinix NY4 data center. Among them, about two-thirds of all the trades come from an automated system. According to the Forex volume, IC Market is the largest provider for FX CFD. IC Market's website showed of US$64 billion of trade in March 2019. It has over 60,000 active clients worldwide. The broker gets excellent reviews from its users, based on their trust on the platform. It offers instant account opening, along with funding to start trading in no time. There is also an option to make a Demo account, which helps the beginner trader grow the skills needed for trading on brokers. It's user-friendly and enables you to trade in minutes.

IC Market operates in various countries, excluding Canada, U.S, Israel and the Islamic Republic of Iran. IC Market does not deal with cryptocurrencies, nor does it provide digital currency exchange service. But it includes cryptocurrency as its asset to trade with, along with CFDs with other instruments. The products issued by IC Market cannot be traded or exchanged, and they enter in transactions from 'principle to principle' basis.

There is a high level of risk of losing the capital with the trading derivatives, so trade should be done with the amount, which can be afforded to be lost. This makes it unsuitable for all investors, excep those investors who know the principles of trading along with the risks involved in it. Seek a bit of advice if necessary. Before entering into a transaction with the company, read the Product Disclosure Statement of the company from their website thoroughly.

Spreads

IC Market offers the new traders to take their first lead by providing raw spreads from 0.0 pips. The EURUSD average spread is 0.1 pips, e.g., the best in the world. The spreads are kept tight 24/5 by the diverse propriety liquidity mix. From the data taken from third-party providers, it is shown that EURUSD spread remains 0.0 pips on an average of 62%, from 01-01-2019 to 08-08-2019, but these raw spreads are available for RAW Spread trading accounts. There is also a commission charge on RAW Spread account of $3.50 per 10,000 trades. The Standard account offers the spreads from 1 pip, but no additional commission has to be paid. On CFD indices, spread starts from 0.4 points.

The raw spread is advantageous to the traders. There are no requotes for spreads, starting from 0.0 pips, and best pricing is offered with no restrictions. This is why IC Market is a platform, which provides Forex CFD for high volume trades carried on by traders, robots and scalpers.

The platform offers a maximum leverage of 1:500 with more than 232 tradable instruments. The Micro Lot Trading has a value of 0.01.

Fast Execution

The broker is ultra-fast in executing its orders, with a speed of approximately 40ms. Upon receiving an order on IC Market's bridge, the processing time for execution is 36.5 milliseconds. The platform uses Equinix NY4 server optic fibres with low latency to execute the order in no time. There is also a low latency VPS available for free. Of all the trades taking place on IC Market, 60% of them are Algo Trades.

Grade Trading

IC Market offers deep, diverse and real liquidity for traders to trade on. It provides with reduced slippage. Daily, approximately more than 29 billion USD in FX trades are processed.

Global Market

This broker provides 60 products from Forex market, 19 products from commodities, 120 products from stocks, 17 products from indices and 5 products from bonds, making the global market run on your fingertips.
Pros and Cons of IC Market
Pros of IC Market:

  • True ECN broker with institutional-grade quality
  • On desktop, web and mobile - cTrader and MetaTrader are available.
  • Wide variety of tradable products
  • 24/7 customer support
  • A library of educational material and videos
Cons of IC Market:

  • May make beginner traders overwhelmed with the markets and platforms on what to choose.
There is one other platform known for beginner traders, named IQ Option. It allows trade of a wide variety of assets, including cryptocurrencies, stocks, indices etc. It's suitable for new users because of its user-friendly interface, providing with simplicity and ease.

To make an account only $10 are required, which is quite an affordable amount, compared to some other brokers (some of which charge as high as $1000). It has more than 350 assets for trading. It also provides a Demo account with $10,000 virtual money.

Contrary to this, FXPro is more suited for professional traders. They also trade with commodities, indices, shares, and currencies, giving access to their traders of these assets. It also uses cryptocurrency CFDs, which makes it one of the few brokers able to do that among many. FXPro is not regulated by ASIC, which makes it less safe for novice traders. It shows how proper skills and expertise is required for trading on this platform, otherwise, there is a high risk of losing the capital. This is why FXPro is more suitable for professional traders, as they've got experience in using different instruments on the platform with ease.

List of Top 20 The Best Brokers in 2019. Most popular brokerage firms 2019 for Stock and Commodity Trading.

OptionsXpress Review

Pepperstone Review

Exness Review

FBS Review

Made on
Tilda