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Regulated: Regulated by ASIC
Min Deposit: $200
Min Trade Amount: 0.01 Lots
US Clients:
Bonus: No Bonuses Available (ECN Platform)
Leverage: 500:1
Fees: $3.50 per Lot (ECN Platform)
Free Demo Account:
Trading Platform: MT4, cTrader, MAM, Myfxbook Autotrade Account
Payment METHOD NAME Charge Time

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Full Review

About ICMarkets

ICMarkets is the forex brokerage brand belonging to International Capital Markets. This company holds an Australian financial services licence (AFSL) to carry on a financial services business in Australia. IC Markets was incorporated in Sydney, Australia in 2007  is regulated by the Australian Securities and Investments Commission (ASIC) with Australian Financial Services Number 335692.

 

Special Offers and Bonuses

ICMarkets does not offer any bonuses, being an ECN broker.

 

Types of Trading Accounts

The type of accounts that traders can have on ICMarkets are of three types:

a)    Standard: The minimum deposit for this account type is $200. No commissions are charged on trades and the maximum leverage is 500:1. Minimum lot size for trades stands at 0.01 lots. This account type is ideal for discretionary traders.

b)    True ECN: The minimum deposit for this account type is $200, with commission on trades charged at $3.50 and the maximum leverage is 500:1. Minimum lot size for trades stands at 0.01 lots. This account type is ideal for scalpers and for the use of EAs and hedging strategies.

c)     cTrader ECN: The minimum deposit is $5,000. Maximum leverage is 500:1, and 0.1 pips is the average floating spread. This is the flagship ECN platform that presents Level II pricing and a strict STP environment. This permits traders to practice scalping and hedging techniques.

d)    There are also mobile platforms which are MT4 platforms for the various types of smartphones and tablet devices.

There are also swap-free variations of these accounts to cater to traders of the Islamic faith.

 

Trading Platform Features

ICMarkets offers an extensive array of trading platforms. These platforms are as follows:

a)    MT4: This is the downloadable trading platform with an advanced charting application. The ICMarkets MT4 platform is hosted in the Equinix NY4 data centre and is the preferred choice for day traders, scalpers and expert advisors (EAs). The MT4 also comes as a mobile version for all smartphone types as well as a web-based version.

b)    cTrader: This is the ECN platform obtainable on ICMarkets. There is also a web-based version as well as a mobile version of the cTrader software, and it also comes with cAlgo, the platform which is used to develop strategies for use on the cTrader.

c)     MAM: This is the platform for Multi-Account Management or PAMM account trading. This is the platform for those who are interested in managing multiple accounts under the PAMM program.

d)    Myfxbook Autotrade Account: This is the platform for social trading using the MyfxBook social trading interface.

Commissions and Spreads

The asset index available for trading on ICMarkets is given below:

Majors

 

Symbol Spreads
EURUSD 3
USDCAD 5
GBPUSD 4
USDCHF 4
USDJPY 3
NZDUSD 5
AUDUSD 4

 

Crosses

 

Symbol Spreads
USDILS 60
EURILS 70
EURCHF 4
CADCHF 10
EURJPY 4
CADJPY 7
AUDJPY 6
NZDJPY 8
USDHKD 7
GBPAUD 10
EURCAD 10
EURSEK 50
EURNZD 20
NZDCAD 10
NZDCHF 10
GBPNZD 40
AUDNZD 14
USDTRY 30
AUDCHF 8
USDZAR 120
USDNOK 50
USDSEK 50
CHFJPY 5
USDMXN 80
GBPCAD 10
EURNOK 50
USDDKK 15
EURHUF 30
USDSGD 8
USDHUF 30
EURTRY 40
EURPLN 30
USDPLN 30
EURDKK 15
SGDJPY 5
EURRUB 40
USDRUB 30
GBPJPY 8
EURAUD 10
EURGBP 3
AUDCAD 8
GBPCHF 8

 

 

Charting Packages

The charting packages used by ICMarkets are obtainable on the MT4 and cTrader platforms. There is also the FIX API which can provide interactive charting facilities that can be integrated with the cTrader platform as a form of algo software (cAlgo).

 

Education and Demo Accounts

There are a number of educational tools that traders can access on ICMarkets. There are online text and video tutorials, as well as occasional webinars and technical/fundamental analysis coverage.

Traders are also provided with a free and unlimited demo account, forex calculators and a forex news calendar.

 

Customer Service

ICMarkets Customer Support can be contacted through the following means:

a)        Email communication, which can be by the use of the contact form on the website, or on [email protected].

b)        Live Chat.

c)         Phone – General: +61 (0)2 8014 4280

d) PHYSICAL ADDRESS:

International Capital Markets Pty Ltd

Level 2 / 2 Bligh Street

Sydney NSW

2000 AUSTRALIA

 

Deposit and Withdrawals

Traders on ICMarkets can perform account deposits and withdrawals with:

a)    Credit/debit Cards: Only VISA and MasterCard brands are accepted.

b)    International bank  wire transfers

c)     E-Wallets: The only featured e-wallets are those of Skrill, Neteller, BPAY (Australia only), China UnionPay and Webmoney.

d)    Local Bank Transfers in selected countries outside Australia.

e)    Brach Cash Deposits, made in AUD from traders with Australian bank accounts.

For withdrawals, all the methods except credit/debit cards are accepted. Withdrawals received before 03:00 GMT (14:00 AEST) are processed on the day the form is received.

 

Deposit Limits

The minimum deposit amount allowed on ICMarkets MT4 accounts is $200 or currency equivalent. The cTrader account requires a minimum deposit of $1,000 USD or currency equivalent.

 

Withdrawal Limits

There are no minimum or maximum withdrawal limits on ICMarkets. In addition, traders can actually withdraw more money to a credit card than was initially deposited with the credit card method. However, the trader must perform full credit card verification before this can be done.

 

Conclusion

ICMarkets has a very good array of trading conditions which caters to the needs of different categories of traders, from the beginners to the pros and also those who just want to passively invest. Traders who love the MT4 platform’s simplicity and user-friendliness will be enthralled with the variations of trading platforms that are available.