Opening An IC Markets Account
Creating an account with IC Markets is an easy 4 step process, taking under 5 minutes to provide the standard personal information, and answer questions in accordance to ASIC regulation. They also offer same day verification, enabling you to get access to markets as quickly as possible. IC Markets have NO minimum deposit, so there is no obligation to fund an account once opening. Upon funding an account with ICM traders are offered leverage of up to 500:1, allowing traders to control more capital. IC Markets account setup is seamless, they offer industry leading leverage levels, and have no minimum deposit to open an account.
What do they provide? IC Markets Review
Deposits and withdrawals are seamless transactions with ICM with 16 different funding methods in 10 different base currencies for fee-free deposits. Popular funding options include credit/debit cards, Paypal, Poli and more. IC Markets offer a broad range of withdrawal methods free off charge for domestic and international clients, however international bank transfers do incur a $20 AUD fee. Popular base currencies supported by IC Markets include but are not limited to USD, AUD, EUR, NZD, GBP, CAD and SGD.
IC Markets customer support is industry leading with 24/7 customer support chat, compared to the industry standard 24/5. This allows clients access to support around the clock, including weekends. Clients may also arrange a call back to talk to a support member over the phone, or email support.
ICM also supports clients trading success by supplying tools, market analysis/research and education. IC Markets has world class customer service, with a series of educational products, from beginner material to more detailed technical and fundamental analysis available to all traders.
In IC Markets ‘information hub’, traders can access market news, earnings reports and dividends, fundamental and technical analysis. IC Markets educational materials cover all areas of trading, from opening an account and learning how to use trading platforms (Metatrader/cTrader), to risk management, analysis and trade plan education. These services support traders of all experience, and are useful tools for traders to improve their trading. ICM also offers traders a range of 20+ exclusive MT4 institutional quality tools. Some of these tools include a market sentiment indicator, a tick chart tool and an alarm manager to notify the trader or even their followers on social media, giving their clients an edge in the markets. IC Markets boasts a huge variety of tradable products with over 60 currency pairs, 16 indices, and CFD’s across commodities, stocks, futures, bonds and crypto currencies.
IC Markets Spreads, Commissions and Fees
IC Markets are one of the lowest-cost brokers in the industry, offering some of the lowest spreads available with all spreads having a minimum of 0.0 pips, and some of the lowest average forex spreads. The commissions are very market competitive, with trades costing $3.5USD or equivalent per side, and swap rates being industry standard. Furthermore, there are no nasty surprise fees such as inactivity fees. The costs of having an account and trading are very transparent with IC Markets.
Our Experience Trading Forex With IC Markets
Our experience with IC Markets has been pleasant. We gained access to trading very easily and were able to open positions within the first hour of opening an account. Spreads were very low (typically below 1.0 on majors) despite the high volatility of the period (markets affected by COVID-19), and swaps are standard. During roll we found spreads to be quite wide (roughly around 2.0-3.0 pips on majors), however when compared to other brokerages we found IC Markets to have lower spreads than competitors over roll. Withdrawing was easy, however we had to upload additional documents to verify our details in order to withdraw, highlighting how IC Markets value the security of their clients. Overall ICM is regarded one of the top tier brokers, and we certainly found their reputation to be justified.
