Introduction
IC Markets is a popular online broker that offers forex and CFD trading. In this review, we will take a look at the pros and cons of IC Markets and see what traders have to say about their experience with the broker.
History of IC Markets
IC Markets is an Australian-based forex broker that was founded in 2007 by a team of experienced professionals in the financial services industry. The company has since grown to become one of the largest and most respected online forex brokers in the world, servicing clients from over 150 countries.
IC Markets is regulated by the Australian Securities and Investments Commission (ASIC) and offers its clients a wide range of tradable instruments including forex, CFDs, indices, metals, and energies on the MetaTrader 4 and cTrader platforms. IC Markets is committed to offering tight spreads, fast execution speeds, and superior customer service.
The company has won numerous awards over the years, including ‘Best Standard Forex Broker’ at the UK Forex Awards 2019, ‘Best MT4 Broker’ at the European CEO Awards 2018, ‘Fastest Growing Forex Broker’ at the MENA Dubai FX Show 2018, and many others.
Pros and Cons of Trading with IC Markets
IC Markets is one of the world’s largest Forex brokers, offering traders a wide range of tradable assets, competitive spreads, and excellent customer service. However, like all brokers, IC Markets has its pros and cons. In this article, we will take a closer look at both the positive and negative aspects of trading with IC Markets.
Pros:
– Wide range of tradable assets: IC Markets offers its clients a wide range of assets to trade, including currency pairs, metals, indices, CFDs, and more.
– Competitive spreads: IC Markets offers some of the most competitive spreads in the industry, starting from just 0.0 pips on major currency pairs.
– Excellent customer service: IC Markets prides itself on providing excellent customer service to its clients. The broker’s support team is available 24/5 via live chat, phone, or email.
Cons:
– Limited account types: IC Markets only offers two account types – Standard and ECN – which may not be suitable for all traders.
– No US clients accepted: Unfortunately, US clients are not accepted by IC Markets due to regulatory reasons.
IC Markets Trader Ratings
If you want to know what other traders think about IC Markets, then you’ll want to check out the trader ratings. There are a number of different rating sites that you can check out, and each one will give you a slightly different perspective. However, overall, the ratings for IC Markets are positive.
One thing that traders really like about IC Markets is the low spreads. This is especially true for major currency pairs, where the spreads can be as low as 0.1 pips. That’s very competitive when compared to other brokers.
Another thing that traders appreciate is the fact that there is no dealing desk. This means that trades are executed quickly and without intervention from a broker. This is great for those who want to trade with a high degree of control over their trading decisions.
Finally, traders also like the fact that IC Markets offers a wide range of tradable assets. In addition to forex, you can also trade indices, commodities, and cryptocurrencies on this platform. So whatever your trading interests may be, you should be able to find something to suit your needs here.
Conclusion
IC Markets is a reliable forex broker with low spreads and fast execution. However, it has some cons such as the lack of negative balance protection and high minimum deposit for certain account types. Overall, IC Markets is a good choice for experienced traders who are looking for a reliable broker with low costs.