IC Markets is a good broker for investors who want to run automated trading strategies on MetaTrader and cTrader platforms. IC Markets provides social copy trading platforms and a growing selection of research and educational materials, and offers competitive pricing. These tools are complemented by instrument-specific insights, providing comprehensive information about various financial assets to facilitate well-informed trading decisions. Additionally, the platform facilitates comparative analysis of users’ trading behaviors, enabling traders to gain insights from peers and refine their strategies. This broker also provides a wealth of educational resources, including articles and video tutorials, catering to those seeking to bolster their trading skills.

While both brokers offer a range of similar trading services and have a good reputation, there are some differences between the two that may affect your decision. The MT4 platform is relatively well laid-out and has a plethora of trading tools that you can use. These include advanced charting and technical analysis studies and access to historical data. All of the accounts below make use of ECNs which connect directly to the liquidity providers.

However, I am also confident my funds are safe because the broker is regulated in multiple jurisdictions and has been operating for many years. Founded in 2007, IC Markets’ monthly trading volume surpassed $1.39 trillion in June 2023 across over 200,000 clients within its related brands (IC Markets and IC Trading). All of my questions have always been answered very quickly through their live chat, where the customer service reps are always well informed and polite.thank you for your support .

As you can probably tell, this is the upgraded version of the MT4 platform. IC Markets also gives their Standard and True ECN traders the choice of the MT5 platform. The MT5 allows you to trade the single stock equities as well as the crypto assets. There may be a third-party fee that is applied by your bank or intermediary banks if you are doing an international wire transfer. Of course, the exact spread that will be applied depends on the type of asset you are trading and the account you have. Below is an indication of some of the spreads on a small subset of assets on the Standard / True ECN (in pips).

This is because I like to know exactly why a position was taken in the market. For me, part of the trading experience and enjoyment comes from analysing the markets and following the news to spot potential trades. There is also a sense of achievement that comes from getting on the right side of a trade. I don’t really want to put my hard-earned money into the trading strategies of others when I can learn for myself. If you are spending time looking for third-party trading signals, you could be wasting value time spent educating yourself and practising your own strategies.

Great customer service

1. Take note though that although the True ECN has a lower spread, you will have to pay a commission on the lots that you trade.
2. Just be aware, there may be third-party fees charged when using certain payment methods.
3. You can see this swap rate in the platforms before you enter the trades.
4. The MT4 and MT5 mobile apps are perhaps some of the most popular trading application in existence today.
5. There is also a sense of achievement that comes from getting on the right side of a trade.

All of these accounts have a 50% stop out level, offer one click trading as well as Index CFDs as standard. Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team. For traders using different base currencies, currency conversion fees may apply when depositing or withdrawing funds. IC Markets offers competitive spreads for CFD trading, ensuring cost-effective access to a wide range of asset classes. IC Markets’ account offerings underscore their commitment to providing a diverse range of options while prioritizing fairness and user-centric features.

When using the chat service they always seem to be able to sort out my problems with ease and quickly. I needed assistance with re-opening an archived account and the assistance I received from the live chat consultant was very easy and seamless. Yes, there are things that we think they can improve, but these can easily be worked on. Hiring better customer service or starting a weekly webinar is not too hard to implement. Our IC Markets review found them to be a well regarded and regulated broker with low fees, instant execution and extensive asset coverage.

Commission and Fees

Therefore, if you decide to switch providers down the line and want to continue using cTrader, your options will be limited. That being said, cTrader is still an exceptional platform that is well regarded by retail and institutional traders alike. You can also get both the MetaTrader and cTrader platforms through RoboForex.

One of IC Markets’ standout features is its competitive spreads, ensuring that traders can keep a more significant portion of their profits. Moreover, the broker’s stringent regulatory oversight adds an extra layer of security for clients, instilling trust and confidence. They are prompt, efficient and polite when answering support questions from traders of all experience levels. You can choose to call them using a toll-free number from a list of countries throughout the globe. I have always found IC Markets support to be amongst the best from all brokers that I have reached out to.

Trading Fees

Chat support team is not one of them.Today’s experience with Dimitra was outstanding – resolving a tricky matter so swiftly, professionally and politely. The Coin Bureau Editorial Team are your dedicated guides through the dynamic world of cryptocurrency. With a passion for educating the masses on blockchain technology and a commitment to unbiased, shill-free content, we unravel the complexities of the industry through in-depth research.

Furthermore, IC Markets offers sophisticated trend exploration tools, empowering traders to identify and capitalize on prevailing market trends. You can open free demo accounts if you would like to test the different trading platforms and conditions before opening a real account with them. I would always recommend a demo account to begin with so that you can get used to trading online without the risk.

There are more integrations for it and more trading communities know how to develop on it. We would suggest the MT4 unless you have to trade assets that are not available Luno exchange review on it. You also have an economic calendar right there on your trading platform.

You can either place trades that replicate these traders completely or you can control the trades that you would like to make on a case by case basis. ZuluTrade is particularly interesting as it ranks traders and you can follow only the most profitable. IC Markets also streams fx choice review in live video feeds straight from Trading Central. These are live trading news segments that cover the latest market movements and economic announcements.

IC Markets supports a variety of funding options including bank wires, and eWallets like Neteller, PayPal, and Skrill, alongside support for credit cards. Our review of IC Markets’ fee structure reveals it as highly favorable, particularly its low spread of 0.62 on the EUR/USD pair, which is well below the industry average of 1.08. Combined with its active trader discounts and the absence of an inactivity fee, IC Markets stands out as an attractive option for cost-conscious traders. We trust IC Markets due to its robust regulatory compliance, including approvals from ASIC in Australia and MiFID in the EU.