IC Markets Australia - Is It a Good Broker in 2024?

IC Markets Australia: General Information

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Your capital is at risk.
Up to 75.93% of the broker’s non-professional clients incur losses when trading CFDs.

IC Markets Australia supports many currencies and offers high leverage and low spreads. The broker also offers many currency pairs. To open an account with IC Markets, you need a minimum deposit of $200.

IC Markets Australia Review

IC Markets is a highly reliable forex broker that offers some of the lowest fees in the industry. The broker offers favorable trading conditions, great educational tools, high security that ensures the protection of client funds, and a wide range of trading instruments.

Trading Conditions

IC Markets offers its clients favorable trading conditions that allow traders to take advantage of high leverage and low trading fees. As a result, they’re able to maximize profits and earn more on the platform.

Australian clients can get up to 1:30 leverage on the platform. This allows traders with minimum deposits to cover margins and magnify gains.

The broker is able to offer low fees because it’s an ECN broker, which stands for electronic communications network. This means that IC Markets uses multiple liquidity providers (over 25). As a result, the platform’s spreads remain tight and liquidity deep.

Educational Tools

IC Markets has been around for many years, which allows the platform to offer plenty of educational materials. These include technical analysis reports, video tutorials, informational tools, webinars, and more. These educational tools can be incredibly helpful for beginner traders and even for investors who have a lot of trading experience.

Account Types

IC Markets offers various account types for traders to choose from when they sign up. There are three main account types, which include:

The accounts are available in multiple currencies (up to 10). Plus, Muslim traders who follow Sharia law can sign up for a swap free or Islamic account with IC Markets.

Beginner traders who want to learn the ropes can open a risk-free demo account without having to sacrifice their real money.

Trading Instruments

IC Markets offers many trading instruments, which include:

Is IC Markets Australia Regulated? Is This Сompany Safe?

IC Markets is regulated by the following financial authorities:

IC Markets has a local office in Sydney, Australia and is regulated in Australia. Therefore, Australian clients can enjoy the protections of a local financial authority when depositing their funds with IC Markets.

Furthermore, the broker doesn’t keep client funds in its own account. It deposits those funds in a separate bank, showing clients that it won’t misappropriate their funds and will keep the money safe. To ensure added protection, IC Markets also offers insurance, which covers up to US$1,000,000 per client. Plus, you’ll get negative balance protection. So, if your trades ever exceed the amount you have in your account, your balance will go to zero, instead of the negatives.

IC Markets Australia: Fees

Compared to other forex brokers in the world, IC Markets has relatively low spreads and fees. For example, with a Standard Account through MetaTrader 4, you can trade with an average spread from 1.0 pips.

With the Raw Spread Account, spreads are from 0 pips and a commission of $3.50 per $100k traded. Spreads on the major currency pair EURUSD average at about 0.1 pips. For the cTrader Account, spreads start at 0.0 pips and a commission of $3.00 per $100k traded.

Summary: Is IC Markets Australia a Good Broker?

If you’re looking for a highly affordable forex broker in Australia that’s both safe and reliable, then IC Markets is an optimal choice. The broker offers a wide range of features, from a plethora of educational materials to several trading instruments. Plus, you can feel confident that your funds are safe, thanks to segregated accounts, insurance, regulations, and negative balance protection.