IC Markets – Account Types

IC Markets – Account Types

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ICMarkets - Account Types

 

Overall Rating

4.7/5

Rated #37 of
Recommended FX Brokers

💰Minimum Deposit

USD 200

🌐 Regulators

ASIC 

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

65

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Our IC Markets Account Types Revealed:

 

IC Markets Overview

Established in 2007, IC Markets is a well-regulated CFD and forex broker and one of the largest true ECN brokers that offers a wide range of tradable instruments spread across several asset classes.

 

IC Markets offers the use of powerful, flexible trading platforms namely:

  • MetaTrader 4
  • MetaTrader 5
  • cTrader
  • Myfxbook AutoTrade
  • Zulutrade

 

The live trading accounts that IC Markets offers are tied to the trading platforms as follows:

  • Raw Spread cTrader Account
  • Raw Spread MetaTrader Account
  • Standard MetaTrader Account

 

IC Markets is known for its reliable and fast trade execution speeds, with the order of clients sent through to reputable, large liquidity providers that fill these orders at the best possible prices. IC Markets is regulated in several jurisdictions by ASIC, CySEC, FSA, and SCB.

 

IC Markets is headquartered in Australia and has offices based in the Seychelles, Bahamas, and Cyprus. The management team behind IC Markets has several years’ worth of experience in financials, providing them with a fundamental understanding of what traders need.

 

IC Markets Account Types

IC Markets offers traders a choice between three dynamic account types. Each of these account types offers traders a set of unique features and benefits. Each account caters for different types of traders according to their trading experience, skills, needs, and objectives.

 

In addition to the live trading accounts, IC Markets also offers Muslim traders who follow Sharia law the option of converting their Raw Spread and Standard Accounts across all three trading platforms to that of a swap-free Islamic account.

 

In addition, IC Markets also offers traders the use of a demo account that can be used for a wide range of purposes, to the benefit of the traders that use it as a tool to navigate competitive financial markets while using the education materials, research tools, and trading tools that IC Markets offers.

 

IC Markets Account Features

cTrader Raw Spread Account

The cTrader Raw Spread Account is a suitable account for day traders as well as scalpers. The specifications on this account type are as follows:

 

  • Access to the cTrader trading platform through which trades can be executed
  • Commissions of $3 charged per $100K traded.
  • Spreads from 0.0 pips
  • A minimum deposit of $200
  • Leverage up to 1:500
  • Maximum of 2,000 open orders per account at a given time
  • Connection through the London server
  • Micro-lot trading from 0.01 lots
  • Access to 64 forex pairs, CFDs on indices
  • A stop-out level of 50%
  • Access to one-click trading
  • The ability to use all trading styles without any restrictions
  • No restrictions on the order distance
  • C# as the programming language

 

MetaTrader Raw Spread Account

The MetaTrader Raw Spread Account is an ideal account type that caters for traders who use Expert Advisors (EAs) as well as Scalpers. The specifications of this account type are as follows:

 

  • Access to the MetaTrader trading platform through which trades can be executed
  • Commissions of $3.5 charged per lot and $7 per round turn
  • Spreads from 0.0 pips
  • A minimum deposit of $200
  • Leverage up to 1:500
  • Maximum of 200 open orders per account at a given time
  • Connection through the New York server
  • Micro-lot trading from 0.01 lots
  • Access to 64 forex pairs, CFDs on indices
  • A stop-out level of 50%
  • Access to one-click trading
  • The ability to use all trading styles without any restrictions
  • No restrictions on the order distance
  • MQL4 is the programming language

 

MetaTrader Standard Account

The MetaTrader Standard Account is suitable for discretionary traders, and it has the following specifications:

 

  • Access to the cTrader trading platform through which trades can be executed
  • Commission-free trading offered
  • Spreads from 0.6 pips (marked-up to include the broker’s fee)
  • A minimum deposit of $200
  • Leverage up to 1:500
  • Maximum of 200 open orders per account at a given time
  • Connection through the New York server
  • Micro-lot trading from 0.01 lots
  • Access to 64 forex pairs, CFDs on indices
  • A stop-out level of 50%
  • Access to one-click trading
  • The ability to use all trading styles without any restrictions
  • No restrictions on the order distance
  • MQL4 is the programming language

 

IC Markets Demo Account

The IC Markets demo account aims to mirror live market conditions, but they offer a simulated market environment where the trader’s real capital is not at risk. There are some key differences between the demo account and a live trading account, including the fact that there is no dependence on real-time market liquidity to fill orders.

 

There may also be a delay in pricing and traders may be restricted from some products. The broker that offers the demo account reserves the right to include or exclude certain products or offers in/from the demo account.

 

Traders must note that some conditions do not apply on a demo account that they may be subject to in live trading conditions including a lack of rejected orders, the absence of slippage, and more. The margin requirements on demo accounts could differ from what traders can expect on a live trading account.

 

The demo account that IC Markets offers can be used by beginner traders who want to practice their trading. It can also be used as a valuable tool by more experienced traders who want to test their trading strategies and explore the trading conditions that IC Markets offers.

 

IC Markets Islamic Account

The purpose of an Islamic Account is that it caters specifically for Muslim traders who follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.

 

Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.

 

IC Markets offers Muslim traders the option of converting any of the live trading accounts into that of an Islamic Account, exempting them from earning/paying overnight fees or swaps.

 

IC Markets Pros and Cons

PROS CONS
Well-regulated by several entities US clients are not accepted
cTrader and MetaTrader 4/5 offered Fixed spreads are not offered
Wide range of tradable markets
Deposits and withdrawals are free of charge
Social trading opportunities are provided through ZuluTrade
IC Markets has a true ECN model
IC Markets offers a wide range of useful trading tools
FIX API connection offered through cTrader
Inactivity fees are not charged
24/7 dedicated customer support
Managed accounts provided

IC MARKETS AT A GLANCE

Broker's Name IC Markets
Headquartered Sydney, Australia
Year Founded 2007
Regulating Authorities CySEC, ASIC, FSA, SCB
Countries not accepted for trade United States
Islamic Account (Swap Free) Yes
Demo Account Yes
Institutional Accounts No
Managed Accounts Yes
Maximum Leverage 1:500
Minimum Deposit $200
Deposit Options
  • Credit Cards
  • Debit Cards
  • PayPal
  • Neteller
  • Neteller VIP
  • Skrill
  • UnionPay
  • Bank Wire Transfer
  • Bpay
  • FasaPay
  • Broker to Broker
  • POLi
  • Thai Internet Banking
  • Rapidpay
  • Klarna
  • Vietnamese Internet Banking
Withdrawal Options
  • Credit Cards
  • Debit Cards
  • PayPal
  • Neteller
  • Neteller VIP
  • Skrill
  • UnionPay
  • Bank Wire Transfer
  • Bpay
  • FasaPay
  • Broker to Broker
  • POLi
  • Thai Internet Banking
  • Rapidpay
  • Klarna
  • Vietnamese Internet Banking
Platform Types
  • MetaTrader 4
  • MetaTrader 5
  • cTrader
  • Myfxbook AutoTrade
  • Zulutrade
OS Compatibility Web browsers, Linux, Windows, macOS, iOS, Android
Tradable Assets
  • Forex
  • Commodities
  • Indices
  • Bonds
  • Cryptocurrencies
  • Stocks
  • Futures
Languages supported on Website English, Spanish, Russian, Thai, Malay, Vietnamese, Italian, Portuguese, and several others
Customer Support Languages Multilingual
Customer Service Hours 24/7

 

You might also like: IC Markets Demo Account

You might also like: IC Markets Fees and Spreads

You might also like: IC Markets Islamic Account

You might also like: IC Markets Minimum Deposit

 

Overall Rating

4.7/5

Rated #37 of
Recommended FX Brokers

💰Minimum Deposit

USD 200

🌐 Regulators

ASIC 

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

65

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FAQ

TRADING ENVIRONMENT

How many instruments can I trade with IC Markets?

You can trade any of the following instruments:

  • Forex
  • Commodities
  • Indices
  • Bonds
  • Cryptocurrencies
  • Stocks
  • Futures

 

Which platforms are supported by IC Markets?

IC Markets only supports the use of MetaTrader 5 on the following:

  • MetaTrader 4
  • MetaTrader 5
  • cTrader
  • Myfxbook AutoTrade
  • Zulutrade

 

Does IC Markets offer leverage?

Yes, IC Markets offers leverage up to 1:500.

 

What spreads can I expect with IC Markets?

You can expect spreads from 0.0 pips.

 

Does IC Markets charge commission?

Yes, IC Markets offers commissions as follows:

  • cTrader Raw Spread Account – from $3.00 per USD 100K traded.
  • MetaTrader Raw Spread Account – from $3.5 per lot, per side.

 

Are there additional charges on the Islamic account?

Yes, there are additional holding commissions charged on certain forex pairs. These commission charges range from between $5 up to $80 per lot, with triple charges when traders hold a position over Friday nights.

 

Is IC Markets regulated and by whom?

Yes, IC Markets is well-regulated by ASIC, CySEC, FSA, and SCB.

 

Is IC Markets a recommended forex trading broker for experts and beginners?

Yes, IC Markets is suited to both beginners and experts.

 

What is the overall rating out of 10 for IC Markets?

9/10.

 

ACCOUNTS

What is the difference between a demo and a live trading account?

A demo account is a practice account that can be used by both beginner and professional traders. Beginners can use a demo account to practice their trading while more advanced traders can use it to test their trading strategies.

 

Alternatively, traders can also use a demo account to explore what a broker has to offer. Demo accounts are known for the risk-free environment that they offer along with the virtual funds which are used to trade.

 

Does IC Markets offer a demo account?

Yes, IC Markets offers a demo account.

 

How long is the demo account valid?

The demo account is available for an unlimited period. However, if the demo account shows no activity, it will expire after 30 days.

 

Which live trading accounts does IC Markets offer?

IC Markets offers the following live trading accounts:

  • Raw Spread cTrader Account
  • Raw Spread MetaTrader Account
  • Standard MetaTrader Account

 

Does IC Markets offer an Islamic Account?

Yes, IC Markets offers the option of an Islamic Account on all live trading accounts.

 

What are the available deposit currencies for a live trading account?

  • AUD
  • USD
  • JPY
  • EUR
  • NZD
  • SGD
  • GBP
  • CAD
  • CHF, and several others.

 

DEPOSITS AND WITHDRAWALS

What is the minimum deposit required to open an account with IC Markets?

$200.

 

How do you make a deposit and withdraw money with IC Markets?

  • Credit Cards
  • Debit Cards
  • PayPal
  • Neteller
  • Neteller VIP
  • Skrill
  • UnionPay
  • Bank Wire Transfer
  • Bpay
  • FasaPay
  • Broker to Broker
  • POLi
  • Thai Internet Banking
  • Rapidpay
  • Klarna
  • Vietnamese Internet Banking

 

Does IC Markets charge withdrawal fees?

No, IC Markets does not charge any withdrawal fees.

 

How long does it take to make a withdrawal?

Withdrawal processing times will depend on when the trader submits their withdrawal request and which payment method they use for their withdrawal. Some payment methods offer instant processing while others, such as bank wire, can take a few days.