IC Markets Review
IC Markets, a global forex broker based in Australia, was established in 2007. The company operates several branches and is regulated under the supervision of the Seychelles Financial Supervisor Authority (FSA), the Cyprus Securities and Exchange Commission, and the Australian Securities and Investments Commission.
IC Markets are considered safe due to the fact that they are regulated by ASIC of the highest rank.
Disclaimer: CFDs can be complex instruments that could lead to rapid losses due to leverage. CFDs are complex instruments that can lead to losses of up to 75% for retail investors.
Pros and cons of IC Markets
IC Markets charges low forex fees. You can also open an account quickly and deposit and withdraw money easily.
IC Markets’ product range is limited, and they offer only top forex brokers in world and CFDs. Live chat also provided us with slow and inexact answers. Finally, clients outside the EU do not have investor protection.
| Pros | Cons |
|---|---|
| * Low foreign exchange fees | * Very limited product selection |
| * Account opening is quick and easy | * Live chat support in slow speed |
| * No charges for withdrawals or deposits | * Non-EU clients do not have investor protection |
Fees
| Pros | Cons |
|---|---|
| * Low trading fees | * CFDs have a high financing rate |
| * Low fees for non-trading | |
| * Low foreign exchange fees |
How we ranked fees
Based on the comparison of IC Markets’ fees to all review brokers, we ranked IC Markets as either low, average, or high.
Let’s first go over the basics of broker fees. You need to be aware of non-trading and trading fees.
- Trading Fees are charged when you trade. These could be commissions or spreads. financing or conversion costs.
- Non-trading Fees are charges that are not directly related trading such as withdrawal fees or inactivity.
Below are the most important fees for each asset type. Spreads, commissions, and financing rates are the most important fees in forex and stock index trading.
We also compared IC Markets’s fees to those of two other similar brokers, Pepperstoneand VantageFX. The objective factors that influence the selection of a broker include their products, client profiles, fees structure, and other relevant factors. For a complete list of IC Markets options, please click here.
Let’s begin with the trading fees to get a better understanding of IC Markets.
Trading fees for IC Markets
IC Markets’ trading fees are very low. Different account types have different costs. The ‘True ECN With MetaTrader’ account was tested. It charges a commission, but has tight spreads.
It’s difficult to compare forex broker trading fees. How can we make their fees comparable and clear? By calculating the typical fees for a trade, we can compare brokers.
We chose the most popular instruments from each asset class that are usually offered by forex brokers.
- Forex: EURUSD and GBPUSD, AUDUSD and EURCHF
- Stock Index CFDs: SPX, EUSTX50
A typical trade involves buying a leveraged product and holding it for one week before selling. We chose $20,000 forex position and $2,000 stock index position. We used the following leverage:
- 30:1 for forex
- CFDs of stock indexes at 20:1
These fees cover spreads, commissions, and financing costs for all brokers. Let’s look at the verdict on IC Markets fees.
