IC Markets Reviews In Canada 2023: Features, Cost & Alternatives
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IC Markets (International Capital Markets PTY) is a popular Australian-based online forex and CFD broker that offers trading services to clients worldwide.
- Regulated by ASIC
- Low spreads
- Fast order execution
- Reliable trading platforms
- Wide range of financial instruments
- Excellent customer service
- Competitive Pricing
- Educational resources available
- Some traders report issues with slippage and re-quotes
- The minimum deposit requirement of $200 may be prohibitive for some traders
IC Markets offers a wide range of financial instruments for trading, including forex, indices, commodities, cryptocurrencies, and stocks. The broker is known for its low spreads, fast order execution speeds, and reliable trading platforms, which include MetaTrader 4, MetaTrader 5, and cTrader.
Founded in 2007, IC Markets has grown to become one of the largest retail traders in the world, with clients in over 200 countries.
IC Markets is a well-established online forex and CFD broker that has been providing trading services since 2007. The company is headquartered in Sydney, Australia, and has a global client base.
Regulation and Safety
IC Markets stacks above as one of the most secure and well-regulated brokers in the market. It holds an Australian Financial Services license and many more from multiple regulatory bodies, including the ASIC(Australian Securities and Investments Commission), the FCA in the UK, and the CySEC(Cyprus Securities and Exchange). This means that the broker is subject to strict regulatory standards and is required to adhere to certain rules and guidelines to ensure the safety and security of its client’s funds.
IC Markets offers trading on the popular MetaTrader 4 and MetaTrader 5 trading platforms, which are widely used by active traders around the world. Both platforms are known for their user-friendly interfaces, advanced charting tools, and customizable features. IC Markets offers forex traders a range of trading tools and plugins to enhance the trading experience, including the MetaTrader Supreme Edition plugin.
Products and Services
IC Markets provides access to a wide range of financial instruments, including trading forex, stocks, indices, commodities, and cryptocurrencies. The broker is known for its competitive spreads and low trading fees and offers fast execution speeds and excellent customer support. IC Markets also offers a range of educational resources and tools to help traders improve their skills and make more informed trading decisions.
IC Markets Advantages
The platform offers a range of advantages to its clients, including low forex fees, no fees for deposits or withdrawals, tight spreads starting from 0 pips, and a demo account to practice trading strategies.
Low Forex Fees
One of the best things about this platform is that it offers low forex fees, including low spreads and commissions, which can help traders save on transaction costs and increase their profitability.
No Fees For Deposits Or Withdrawals
One of IC Markets’ pros is that It also allows clients to make deposits and withdrawals without any fees, which is a significant advantage as it helps traders manage their funds more efficiently and reduce their trading costs.
Spread From 0 Pips
IC Markets offers competitive spreads starting from 0 pips, allowing traders to enter and exit trades at the best possible prices, which can be especially beneficial for scalping and day trading strategies.
IC Markets provides a demo account that allows traders to practice trading strategies in a risk-free environment using virtual funds. This is an excellent feature for beginners who want to get a feel for the platform before investing real money.
IC Markets Trading Platform Packages
IC Markets offers 3 account packages: Standard, Raw Spread Account, and cTrader Raw.
|Standard||Raw Spread||cTrader Raw|
|Currencies of Account||61||61||61|
|Markets Offered||Currencies, stocks, CFDs on Commodities, futures, bonds,||Currencies, stocks, CFDs on Commodities, futures, bonds,||Currencies, stocks, CFDs on Commodities, futures, bonds,|
|Mobile Apps||Meta Trader||cTrader||Meta Trader|
IC Markets Standard Plan
IC Markets offers a Standard Plan for traders who prefer fixed spreads. This plan is suitable for beginner traders as it has no additional fees, and it offers a minimum deposit of only $200. The Standard Plan provides access to a wide range of trading instruments, including forex trading, commodities, indices, and cryptocurrencies.
The Standard Plan offers fixed spreads, which means that the spread will remain the same regardless of market conditions. This feature provides traders with greater certainty about their trading costs, as they know the exact spread they will pay for each trade.
IC Markets Raw Spread Plan
IC Markets’ Raw Spread accounts are designed for traders who prefer variable spreads and want to take advantage of tight spreads during periods of high market volatility. The Raw Spread Plan offers spreads from as low as 0.0 pips, making it a popular choice among scalpers and high-frequency traders.
The Raw Spread Plan charges a commission of $3.50 per lot per side, which is a small price to pay for the tight spreads and fast execution speeds it offers. The Raw Spread Plan requires a minimum deposit of $200 and offers access to a wide range of trading instruments, including Forex, commodities, indices, and cryptocurrencies.
IC Markets cTrader Raw Plan
Finally, IC Markets’ cTrader Raw Plan is for traders who prefer to use the cTrader trading platforms. The cTrader platform is known for its advanced charting tools, customizable indicators, and fast execution speeds, making it a popular choice among professional traders.
The cTrader Raw Plan offers variable spreads from as low as 0.0 pips, with a commission of $3.00 per lot per side. This plan is suitable for traders who want to take advantage of tight spreads and fast execution speeds, and it requires a minimum deposit of $200.
IC Markets Quick Overview
Best Overall Value
- Low spreads: IC Markets offers some of the lowest spreads in the industry, starting from as low as 0.0 pips.
- Fast trade execution: The broker boasts execution speeds of under 1 millisecond, making it an ideal choice for high-frequency traders.
- Wide range of instruments: IC Markets offers over 230 instruments, including forex, indices, commodities, and cryptocurrencies.
IC Markets Customer Reviews
Now, let’s take a look at some IC Market reviews:
The portal is excellent, there are many different ways to deposit and withdraw, so far I have NEVER had any issues with IC markets. the customer service team are next level. Always happy to help, nothing is too much trouble and they always get any issue resolves quickly. Today I had the pleasure of dealing with Keisha who was amazing and super friendly!Mike
Most reliable Australian Forex Broker! No fees for withdrawal/deposit, best spreads for standard account with no comission, excellent customer support. Tons of methods for deposit/withdrawal/bank transfer. Best in class!Stefan
I have been with IC Markets since 2014, their customer service is the example all companies should strive to emulate, any issues they have solved within 5 minutes and are available 24/7 to help.Steven
IC Markets Review
Review of IC Markets
|Overall Pricing and Value|| |
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IC Markets has gained a solid reputation in the industry for its low spreads, fast execution speeds, and wide range of trading instruments. In this review, we’ll take a closer look at its key features to help you decide if it’s the right broker for you.
Is This Brand Right For You?
IC Markets is a good choice for traders who value low spreads, fast trade execution speeds, and a wide range of trading instruments. It’s also a good choice for high-frequency traders who need a reliable and fast trading platform. However, if you’re looking for a broker with educational resources or social trading features, IC Markets may not be the best fit for you.
IC Markets offers competitive pricing, with spreads starting from as low as 0.0 pips. It also charges low commissions, with a minimum of $3 per lot round turn. In terms of deposit and withdrawal fees, IC Markets offers free transactions for most payment methods. Overall, IC Markets provides good value for money.
IC Markets has a dedicated customer support team that’s available 24/7 via live chat, email, and phone. The team is knowledgeable and responsive, and they can help with any issues you may encounter while trading. Additionally, IC Markets provides a detailed FAQ section on its website, which covers the most common questions.
Ease of Use
IC Markets offers one of the most user-friendly trading platforms that’s available on desktop, web, and mobile devices. The platform is customizable and easy to navigate, and it offers a range of trading tools and indicators. IC Markets also supports the popular MetaTrader 4 and 5 platforms, which are known for their reliability and functionality.
IC Markets offers a range of features, including low spreads, fast trade execution speeds, and a wide range of trading instruments. It also provides access to a range of trading tools and indicators, including automated trading strategies. Additionally, IC Markets offers free VPS hosting for eligible clients, which can improve trading performance.
Overall, IC Markets is a reputable broker that provides good value for money. It offers low spreads, fast trade execution speeds, and a wide range of trading instruments. The trading platform is user-friendly and customizable, and the customer support team is responsive and knowledgeable. If you’re looking for a reliable and low-cost broker, IC Markets is definitely worth considering.
2 Top IC Markets Alternatives In Canada
|eToro||CMC Markets||IC Markets|
|Award||Best Options||Most Affordable||Best for Algorithmic Traders|
|Detail||Read Review||Read Review||Read Review|
eToro is a social trading platform that offers a range of financial products, including stocks, cryptocurrencies, and the forex market. Founded in 2007, eToro has over 20 million registered users in more than 140 countries. One of the standout features of eToro is its CopyTrader function, which allows users to automatically replicate the trades of successful traders. The platform is also user-friendly and offers negative balance protection to its traders.
CMC Markets is another one of IC Markets competitors. It is a UK-based financial services company that offers trading in various financial products, including stocks, forex, and cryptocurrencies. The company was founded in 1989 and has since expanded its presence to over 20 countries. CMC Markets offers a range of trading platforms, including its proprietary Next Generation platform, which is customizable and offers advanced charting and analysis tools.
As we conclude this IC Markets review, we can say that platform is a reputable and reliable online forex. From trading CFDs and commodities, this broker offers competitive pricing, fast trade execution speeds, and a wide range of trading instruments. Its user-friendly trading platform and responsive customer support team make it a popular choice among traders of all levels.
Frequently Asked Questions (FAQs)
IC Markets is an online forex and CFD broker that provides access to a wide range of trading instruments and competitive pricing.
Based on the IC Markets website, it offers over 230 trading instruments, including forex, indices, commodities, and cryptocurrencies.
IC Markets offers some of the lowest spreads in the industry, starting from as low as 0.0 pips.
IC Markets supports the popular MetaTrader 4 and 5 platforms, as well as a proprietary trading platform.
Yes, IC Markets offers demo retail investor accounts that allow traders to practice trading in a risk-free environment.
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+ 5 sources
c=au;o=Australian Government;ou=Australian Government Australian Securities and Investments Commission. AFS licensees | ASIC – Australian Securities and Investments Commission. Asic.gov.au. Published 2014. Accessed March 9, 2023. https://asic.gov.au/for-finance-professionals/afs-licensees/
GOV.UK. Financial Conduct Authority. GOV.UK. Published June 23, 2017. Accessed March 9, 2023. https://www.gov.uk/government/organisations/financial-conduct-authority
Cyprus Securities and Exchange Commission |. Cysec.gov.cy. Published 2023. Accessed March 9, 2023. https://www.cysec.gov.cy/en-GB/home/
Open a Demo Trading Account | IC Markets. www.icmarkets.com. Accessed March 9, 2023. https://www.icmarkets.com/global/en/open-trading-account/demo/
Account Overview | Trading Accounts | IC Markets. www.icmarkets.com. Accessed March 9, 2023. https://www.icmarkets.com/global/en/trading-accounts/overview/