IC Markets

Overview of IC Markets

IC Markets is an Australia-based virtual currency exchange that was founded in 2007. The company is regulated by the Cyprus Securities and Exchange Commission（CYSEC）, ensuring compliance with financial regulations. IC Markets offers a wide range of cryptocurrencies for trading, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more.

With a maximum leverage of 1:500, IC Markets allows traders to amplify their positions and potentially increase their profits. The exchange supports popular trading platforms such as MetaTrader 4, MetaTrader 5, and cTrader, providing users with a seamless trading experience.

When it comes to deposit and withdrawal methods, IC Markets offers a variety of options including bank wire, credit/debit card, Skrill, Neteller, FasaPay, PayPal, UnionPay, and more. This allows users to easily transfer funds into and out of their trading accounts.

Pros and cons

Pros:

• Wide Range of Cryptocurrencies Offered:

IC Markets provides access to an extensive selection of cryptocurrencies, allowing users to diversify their trading portfolios.

• Regulated by CYSEC:

The platform is regulated by CYSEC, enhancing trust and transparency by adhering to regulatory standards and practices.

• Maximum Leverage of 1:500:

IC Markets offers a high leverage ratio, enabling traders to potentially amplify their gains, though it comes with increased risk.

• Support for Popular Trading Platforms:

The platform supports popular trading platforms, ensuring compatibility and a familiar interface for users.

• Various Deposit and Withdrawal Options:

IC Markets offers a variety of deposit and withdrawal options, providing flexibility to users based on their preferences.

• Educational Resources for Traders:

The platform provides educational resources such as tutorials and materials, assisting traders in understanding and navigating the cryptocurrency market.

Cons:

• Primarily Focused on Virtual Currency Trading:

IC Markets is primarily focused on virtual currency trading, potentially limiting options for users interested in other asset classes.

• Customer Support Only Available 24/5:

Customer support is available 24/5, which means there is no support during weekends. This may be a limitation for users who require assistance outside regular business hours.

• High Leverage Ratio Carries Higher Risks:

While high leverage allows for increased trading potential, it also introduces higher risks.

Regulations

IC Markets is regulated by the Cyprus Securities and Exchange Commission (CYSEC). The exchange holds an Investment Advisory License, with the license number 362/18. This regulation further enhances the exchange's commitment to maintaining a regulated and transparent trading environment.

This dual regulation by CYSEC demonstrates IC Markets' dedication to adhering to regulatory standards and providing a secure trading environment for its users.

Security

IC Markets prioritizes the security of its users' funds and personal information. The exchange implements various measures to protect against security breaches and unauthorized access. These measures include advanced encryption technology, secure socket layer (SSL) protocols, and firewalls to safeguard user data and transactions.

User feedback regarding the security of IC Markets is generally positive. Many users appreciate the exchange's commitment to maintaining the confidentiality and integrity of their personal and financial information.

Trading Market

IC Markets offers a wide range of trading assets across various financial instruments.

Forex CFDs constitute a significant portion of their product lineup, allowing users to engage in currency trading without owning the underlying assets.

Additionally, the platform provides Commodity CFDs, enabling traders to speculate on commodity prices such as gold, oil, and agricultural products.

For those interested in broader market movements, Index CFDs are available, representing the performance of major stock indices.

Bond CFDs offer exposure to fixed-income securities, allowing traders to speculate on bond price movements. The inclusion of Cryptocurrency CFDs allows users to participate in the crypto market's volatility without owning the digital assets.

Furthermore, IC Markets facilitates trading in Stock CFDs, providing access to shares of various companies without direct ownership.

Lastly, the platform serves those interested in derivatives trading with Futures CFDs, allowing speculation on future asset prices.

Cryptocurrencies Available

IC Markets offers a wide range of cryptocurrencies for trading, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more. These cryptocurrencies are subject to price fluctuations in the market, which are influenced by various factors such as market demand, news events, and economic conditions.

The prices of cryptocurrencies can vary across different exchanges due to factors such as liquidity and trading volume. Traders can monitor the prices of cryptocurrencies on IC Markets and compare them with other exchanges to make informed trading decisions.

IC Markets cTrader APP

The IC Markets cTrader app delivers a high-quality mobile trading experience, allowing users to trade various global assets, including Forex, Metals, Oil, Indices, Stocks, and ETFs.

Operating as a Direct Processing (STP) and No Dealing Desk (NDD) platform, it provides advanced technical analysis tools, detailed symbol information, and real-time market trends. By logging in with Facebook, Google, or cTrader ID, users gain access to an array of order types, technical analysis tools, price alerts, trade statistics, and customizable settings.

The app accommodates a wide range of trading interests, supporting forex, ETF investment, CFD market, and stock trading, with features like symbol watchlists and ETF trading capabilities.

How to open an account？

The registration process of IC Markets is straightforward and can be completed in just a few steps:

Visit the IC Markets website and click on the “Open an Account” button.

2. Fill in the required personal information, such as your name, email address, and phone number.

3. Choose the type of account you want to open, such as a live trading account or a demo account.

4. Provide additional details, including your country of residence, preferred base currency, and leverage preference.

5. Agree to the terms and conditions of IC Markets and confirm your registration.

6. Verify your identity by providing the necessary documents, such as a copy of your passport or driver's license, and proof of address.

Once you have completed these steps, your account will be created, and you can start trading on IC Markets.

How to Buy Cryptocurrency CFDs ？

Here's how you can trade Cryptocurrency CFDs on IC Markets platforms:

Account Setup:

• Open an IC Markets account or ensure you have an existing one.

• Fund your account using one of the supported methods.

Platform:

• Choose your preferred platform: MetaTrader 4, 5, WebTrader, or cTrader.

Add Cryptocurrency CFDs:

• Add the desired Cryptocurrency CFDs to your Market Watch window. You can search for them by name or symbol.

• Right-click and select “Show Symbol” or “Add to Chart.” This will display the chosen cryptocurrency's price chart.

Place an Order:

• Right-click on the desired cryptocurrency's chart and select “New Order.”

• Choose your order type: Buy Long (to speculate on a price increase), Sell Short (to speculate on a price decrease), or a pending order like Buy Stop or Sell Stop.

• Enter the desired volume (number of CFD contracts) or the desired trade value.

• Set your Stop Loss and Take Profit orders (optional): These orders help limit your potential losses and lock in profits automatically.

• Click “Place Order.”

Fees

IC Markets Global offers two MetaTrader account types: Standard and Raw Spread.

For Standard accounts, no commission is charged; instead, a spread markup of 1.0 pip above Raw inter-bank prices is applied.

The Raw Spread account, on the other hand, displays the unaltered inter-bank spread from liquidity providers and incurs acommission of $7 per standard lot round turn. Commission rates vary for different base currency accounts, ranging from 5.00 to 9.00 round turn.

This transparent fee structure provides traders with flexibility and clarity in choosing their preferred account type based on their trading preferences and cost considerations.

Deposit & Withdrawal

IC Markets offers a variety of deposit and withdrawal methods to accommodate the needs of their users. Some of the common deposit methods include bank wire transfers, credit/debit cards, and popular e-wallets such as Skrill and Neteller.

To initiate a trading account with IC Markets Global, individuals can start with a minimum deposit of USD $200 or its equivalent in other currencies.

Customer Support

IC Markets provides accessible customer support through various channels.

Users can submit inquiries or messages easily through the website by filling in essential details.

For direct assistance, the contact number is +35725010480. Additionally, users can reach out via email to clientrelations@icmarkets.eu for client relations matters and support@icmarkets.eu for general support inquiries.

These multiple communication options ensure users have a range of choices to connect with IC Markets, demonstrating their commitment to efficient and responsive customer service.

Is IC Markets a Good Exchange for You？

IC Markets shines for high-frequency and scalping traders with its razor-thin spreads on forex and CFDs, deep liquidity, and raw spreads account offering commission-free trading.

IC Markets serves a wide range of traders, including beginners, experienced traders, and institutional clients. Here are the target groups that may find IC Markets suitable, along with recommendations for each:

1. Beginners: IC Markets offers a user-friendly trading platform and provides educational resources such as trading guides and video tutorials. This makes it suitable for beginners who are new to trading and want to learn the basics. Additionally, the availability of a demo account allows beginners to practice trading without risking real money.

2. Experienced Traders: Experienced traders who are looking for a reliable and regulated forex and cryptocurrency exchange may find IC Markets appealing. The range of available cryptocurrencies, along with other financial instruments, provides opportunities for diversification and access to different market opportunities.

3. Institutional Clients: IC Markets serves institutional clients, such as hedge funds and asset managers, who require access to deep liquidity and advanced trading solutions. The exchange offers institutional-grade trading accounts and connectivity options.

Conclusion

In conclusion, IC Markets is a straightforward and accessible virtual currency exchange that accommodate a wide range of traders, including beginners, experienced traders, and institutional clients. The exchange provides a user-friendly trading platform, along with educational resources and tools to enhance traders' knowledge and skills. Some advantages of IC Markets include competitive spreads, a variety of deposit and withdrawal methods, and prompt customer support.

However, traders should also consider potential disadvantages such as varying trading fees, potential withdrawal fees, and the need to conduct their own research to stay updated on the latest developments.

FAQs

Q: What are the trading fees on IC Markets？

A: IC Markets charges trading fees in the form of spreads, which vary depending on the specific cryptocurrency and trading account type. The Raw Spread account offers lower spreads compared to the Standard account.

Q: Are there any deposit fees on IC Markets？

A: IC Markets does not charge any fees for deposits. However, there may be fees associated with certain withdrawal methods, such as bank wire transfers or international transfers.

Q: How long do deposits and withdrawals take on IC Markets？

A: Deposits made through credit/debit cards and e-wallets are usually processed instantly. However, bank wire transfers may take a few business days to be processed.

Q: What educational resources does IC Markets offer？

A: IC Markets provides trading guides, video tutorials, and an economic calendar to help traders enhance their knowledge and skills in trading.

Q: What are the contact channels for IC Markets' customer support？

A: Traders can reach out to IC Markets' customer support team through email, live chat, and phone support.

User Review

User 1:

IC Markets is my crypto haven! Security is top-notch with 2FA and encryption. The slick interface makes trading a breeze. They've got a solid range of cryptocurrencies, but liquidity can be a bit slow for lesser-known coins. Customer support is gold – quick responses and problem-solving. Trading fees are fair, and I love the fast deposit/withdrawal speeds. Overall, a reliable exchange!

User 2:

IC Markets, not my fave. Security measures are decent, but the regulation is a bit murky. The interface is cluttered and not very intuitive for beginners. Liquidity is hit or miss – major coins are okay, but the others can be a struggle. Customer support is responsive, but not always helpful. Trading fees are on the higher side, and deposit/withdrawal speeds are inconsistent. I've had better experiences elsewhere.