IC Markets Bangladesh Review 2024 - TU expert opinion
Is the Forex market legit in Bangladesh?
Forex trading in Bangladesh is legal, but there are certain restrictions. Only the residents of the country can register with the local brokers. Bangladesh Bank is the financial regulator. The bank issues licenses, supervises the operation of Forex brokers and also settles disputes between clients and brokers.
Bangladesh is a Muslim country, and the brokers that are registered there officially provide an Islamic account. It is a special account that complies with the Sharia Law. Clients can use only accounts opened in the national currency for trading.
How to Trade Forex in Bangladesh
In order to start trading in the Forex market in Bangladesh, you need to register with a broker. Verification is mandatory; you will need to confirm that you are a citizen of Bangladesh or have a residence permit. You will also need to provide proof of address.
Our Evaluation of IC Markets
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
IC Markets is one of the top brokers in the financial market with the TU Overall Score of 8.37 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.
IC Markets Trading Company is a great broker for scalping enthusiasts, automated trading lovers, and beginner traders.
Detailed Review of IC Markets in Bangladesh
IC Markets is a good choice for traders from Bangladesh. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.
IC Markets is a globally recognizable Forex brand. It has three regulatory licenses, it partners with major world banks, and provides tier-1 liquidity. The broker’s clients have access to popular trading platforms and the best analytics. IC Markets constantly expands its range of trading instruments and adds new services and solutions for passive investment in the Forex market.
IC Markets' parent company was registered in Australia in 2007. Since 2018, it’s been authorized to provide its services to traders from the European Economic Area. Currently, IC Markets is available worldwide through its regional offices.
Advantages of IC Markets for trading in Bangladesh
Traders Union analysts conducted a detailed analysis of IC Markets for traders from Bangladesh. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:
High execution speeds on all platforms provide for both intraday trading and scalping;
No deposit or maintenance fees;
Demo accounts are available on both MetaTrader and cTrader;
Trading fees are average as compared to other top brokers;
Copy trading, algorithmic trading, and investment in real stocks for Australian clients are available;
Webinars and free educational materials for novice traders are provided;
24/7 multilingual technical support;
Free VPS for clients with a monthly trading volume of 15 lots and more.
Analysis of the Main Features of IC Markets in Bangladesh
Traders Union analysts analyzed the key features of IC Markets for traders from Bangladesh. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for IC Markets traders from Bangladesh
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of IC Markets trading conditions for traders from Bangladesh. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.
💻 Trading platform: |
MetaTrader 4, MetaTrader 5, TradingView and cTrader
|
---|---|
📊 Accounts: |
Demo, Standard МТ4, Standard МТ5, Raw Spread МТ4, Raw Spread МТ5, Raw Spread cTrader, and Islamic (Swap Free)
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💰 Account currency: |
EUR, USD, GBP, CAD, AUD, HKD, NZD, CHF, SGD, and JPY
|
💵 Replenishment / Withdrawal: |
All countries: Wire transfers, Visa, Mastercard, Skrill, PayPal, Neteller, RapidPay, and Klarna;
Restricted methods: UnionPay, POLI, Fasapay, BPAY, internet banking (Thailand and Vietnam), WebMoney, and Broker to Broker |
🚀 Minimum deposit: |
$200
|
⚖️ Leverage: |
1:500 (FSA);
1:30 (ASIC and CySEC) |
💼 PAMM-accounts: |
No
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📈️ Min Order: |
0.01
|
💱 Spread: |
Standard: 0.6 pips;
Raw Spread, MT4/MT5: 0 pips; Raw Spread, cTrader: 0 pips |
🔧 Instruments: |
Cryptos and Forex CFDs on indices, commodities, stocks, bonds, and futures
|
💹 Margin Call / Stop Out: |
50%/100%
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🏛 Liquidity provider: |
Westpac and National Australia Bank
|
📱 Mobile trading: |
Yes
|
➕ Affiliate program: |
Yes
|
📋 Orders execution: |
Market
|
⭐ Trading features: |
Scalping and expert advisors;
Maximum number of orders is 200 for MT4/MT5; and 2,000 for cTrader. |
🎁 Contests and bonuses: |
Rebates for the Global division;
Free VPS. |
IC Markets Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by IC Markets for traders from Bangladesh. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
Trading fees include spreads, fees per lot, and swaps. IC Markets has variable spreads from 0.6 pips on Standard and from 0 pips on ECN account types. Therefore, fees for one instrument can vary subject to the time of day and the market situation. Fees per lot are charged only on ECN account types. They are $7 per lot on MT4/MT5 and $6 on cTrader. Swaps are charged when positions are transferred overnight, but they do not apply to the Islamic account type. Non-trading fees are fees not related to trades. At IC Markets, these are withdrawal fees when using international bank transfers. The broker doesn’t charge other non-trading fees.
Account type | Spread (minimum value) | Withdrawal commission |
Standard | $6 | Bank fees apply |
Raw spread MT4/MT5 | $0 | Bank fees apply |
Raw spread cTrader | $0 | Bank fees apply |
Islamic | $0 | Bank fees apply |
TU experts have compared IC Markets’ fees to those of other brokers and compiled the comparative table below.
FAQs
Is IC Markets legal in Bangladesh?
Yes. IC Markets operates legally in Bangladesh. The broker holds the necessary licenses.
Can you learn trading with IC Markets? Does the broker offer courses for traders from Bangladesh?
Yes, IC Markets offers good trading courses and a lot of educational information for clients from Bangladesh.
Can IC Markets be trusted? Has the broker been operating in Bangladesh long?
IC Markets has been operating in Bangladesh quite long and has a good reputation. Therefore, traders can work with IC Markets.
Is IC Markets suitable for novice traders from Bangladesh?
Yes. IC Markets offers optimal trading conditions and good education for beginners from Bangladesh.
How efficient is IC Markets customer support in Bangladesh?
IC Markets offers a sufficient number of ways to contact customer support in Bangladesh, and also provides support in the state language.
Has IC Markets had any incidents involving theft of funds of clients from Bangladesh?
No. IC Markets provides reliable security of funds of clients from Bangladesh.
Will I be able to file a lawsuit in Bangladesh if IC Markets violates my rights?
Yes. If IC Markets violates your rights, you can file a complaint with the regulator of Bangladesh, and then with a court.
Can IC Markets clients from Bangladesh use the broker’s mobile app?
Yes. The mobile app of IC Markets is available for the clients from Bangladesh.
Does IC Markets provide Bangladesh market analysis?
Analysis of Bangladesh is featured in the information provided by IC Markets.
How can I withdraw funds from my account at IC Markets in Bangladesh?
IC Markets supports bank transfers and debit/credit cards of the banks operating in Bangladesh.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.