Table Of Content

Pros of IC Markets

  • Low Spreads and Competitive Pricing: IC Markets is renowned for its extremely low spreads, starting from 0.0 pips on its Raw Spread accounts. This, combined with low commissions, makes IC Markets a go-to broker for traders who prioritize low trading costs.
  • Advanced Trading Platforms: The broker offers access to popular platforms like MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These platforms are equipped with robust charting tools, automated trading capabilities, and high-speed execution, which are highly valued by both beginners and professional traders.
  • High Leverage: IC Markets offers high leverage, up to 500:1 for Forex traders, enabling traders to take larger positions with a smaller initial deposit. This is particularly advantageous for experienced traders looking to maximize their trading potential.
  • Strong Regulation and Security: IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), as well as the Cyprus Securities and Exchange Commission (CySEC). This ensures a high level of security and transparency, reassuring traders that the broker operates within the legal and regulatory framework.
  • Variety of Account Types: IC Markets offers several account types, including Raw Spread, Standard, and cTrader accounts. This flexibility allows traders to choose an account that suits their trading style, whether they prefer tight spreads or a commission-free structure.

Cons of IC Markets

  • Limited Cryptocurrency Options: While IC Markets does offer cryptocurrency trading, the selection of crypto CFDs is relatively limited compared to other brokers. Traders seeking a wide variety of cryptocurrencies may find this restricting.
  • No Fixed Spread Accounts: IC Markets doesn’t offer fixed spread accounts, which may not be ideal for traders who prefer the predictability of fixed spreads, especially during volatile market conditions.
  • No Social or Copy Trading Features: IC Markets does not provide built-in social or copy trading features, which might be a downside for traders who prefer to follow others or automatically copy strategies.
  • Inactivity Fees: IC Markets charges inactivity fees for dormant accounts, which may be an inconvenience for traders who don’t trade regularly or prefer to keep their accounts inactive for extended periods.

Reviews

Positive Reviews

IC Markets receives high praise from traders for its ultra-low spreads, particularly on the Raw Spread accounts. The availability of advanced platforms like MT4, MT5, and cTrader is also a major plus for many users. The broker’s high leverage and solid regulatory standing make it a preferred choice for professional traders who value competitive pricing and security.

“IC Markets is hands down one of the best brokers out there. Their spreads are incredibly tight, and the platforms are perfect for my day trading strategies. The customer support is top-notch, and I feel confident trading with them.” — Daniel M., Australian trader.

Negative Reviews

Some traders have expressed dissatisfaction with the limited cryptocurrency offering and the lack of social trading options. Additionally, the absence of fixed spread accounts can be a drawback for traders who want more predictable costs during volatile market periods.

“IC Markets is great for Forex and CFD trading, but I wish they offered more cryptocurrencies to trade. Also, I miss having fixed spreads for better predictability.” — Sarah W., UK-based trader.

Overall Sentiment

IC Markets is highly regarded for its low-cost trading conditions, advanced platforms, and strong regulatory standing. It is particularly popular among active traders and those who need access to high leverage. While the limited cryptocurrency options and absence of fixed spreads or social trading features may be drawbacks for some, IC Markets remains a solid choice for those who value tight spreads, reliability, and a wide range of account types.