IC Markets Crypto Trading - Key Features And Benefits
IC Markets offers crypto trading via CFDs, allowing traders to speculate on price movements without owning the underlying assets. Key features include zero commission fees, 1:2 leverage, and variable spreads. The platform supports multiple crypto pairs like BTC/USD, ETH/USD, and XRP/USD, but does not allow direct crypto deposits or withdrawals. While CFDs provide flexibility, traders may face swap fees and limited leverage.
When using a trading crypto broker like IC Markets, traders trade CFDs instead of owning cryptocurrencies directly. CFDs, or "Contracts for Difference," mirror the profit of a cryptocurrency pair without requiring traders to buy the asset itself. While this gives traders more flexibility, it also means missing out on the benefits of owning and trading the cryptocurrency directly.
For traders using IC Markets to explore crypto trading, there are various strategies to consider. CFDs allow traders to experiment with methods like leveraging price movements or managing risks in volatile markets. However, traders should consider aspects like available crypto pairs, leverage limits, and trading fees to build effective strategies on this platform.
With a broad range of crypto CFDs, IC Markets supports both new and experienced traders. Its flexibility and competitive conditions make it a great choice for those looking for advanced tools and favorable trading terms.
IC Markets crypto trading - key features and benefits
As a trading crypto broker, IC Markets provides a reliable platform for those who prefer margin trading with CFDs over direct cryptocurrency ownership. While direct crypto trading is not available, traders can still take advantage of market movements through CFD contracts.
To succeed in this environment, traders need to apply IC Markets crypto trading strategies that align with CFD trading mechanics. Risk management, technical analysis, and understanding leverage are essential for maximizing potential gains while mitigating losses.
Can you trade crypto at IC Markets?
The answer to this is yes and no. This is because although you can replicate trading crypto on IC Markets using the CFDs they offer, you cannot directly trade crypto on the platform.
The following conditions apply to all cryptocurrency pairs that IC Markets offers a CFDs on:
-
A swap rate starting from –10.00% that can change based on the selected pair. This rate is applicable 3x if the position is carried forward from Friday to Monday;
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Spreads are variable based on the pair selected (see the table below);
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Leverage applicable for all pairs is 1:2;
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No upfront margin is required for hedged positions.
To make it easier for traders to handle the volatile crypto market, IC Markets offers a variety of crypto trading tools. These include advanced charting options, real-time market data, and flexible risk management settings, so traders can track price changes and make better trades.
For those looking for a dependable crypto trading platform, IC Markets provides seamless CFD trade execution. Integrated with MetaTrader and cTrader, the IC Markets crypto trading platform offers tools suited for professionals and beginners alike. With minimal slippage and fast execution speeds, it lets traders take advantage of market movements smoothly.
Here are the trading conditions applicable to specific currency pairs:
| Crypto | Lot Size | Min volume | Max volume | Margin | Leverage | Min. spread | Avg. spread |
|---|---|---|---|---|---|---|---|
|
1 BTC |
0.01 |
10 lot |
50% |
1:2 |
8.710 |
42.036 |
|
|
1 BCH |
0.01 |
10 lot |
50% |
1:2 |
2.210 |
5.839 |
|
|
1 ETH |
0.01 |
10 lot |
50% |
1:2 |
4.560 |
11.605 |
|
|
DSH/USD |
1 DSH |
1 with next step @0.01 |
100 lot |
50% |
1:2 |
0.000 |
1.241 |
|
1 LTC |
0.01 |
10 lot |
50% |
1:2 |
1.050 |
1.597 |
|
|
1 XRP |
1 with next step @0.01 |
100 lot |
50% |
1:2 |
0.008 |
0.020 |
|
|
1 EOS |
1 with next step @0.01 |
100 lot |
50% |
1:2 |
0.000 |
0.064 |
|
|
LNK/USD |
1 LNK |
1 with next step @0.01 |
100 lot |
50% |
1:2 |
0.012 |
0.020 |
|
1 DOT |
1 with next step @0.01 |
100 lot |
50% |
1:2 |
0.011 |
0.013 |
|
|
1 XLM |
1 with next step @0.01 |
100 lot |
50% |
1:2 |
0.000 |
0.000 |
|
|
1 UNI |
1 with next step @0.01 |
100 lot |
50% |
1:2 |
0.061 |
0.064 |
|
|
1 BNB |
0.01 |
10 lot |
50% |
1:2 |
1.266 |
1.415 |
|
|
10 XTZ |
1 with next step @0.01 |
100 lot |
50% |
1:2 |
0.003 |
0.026 |
|
|
10 ADA |
1 with next step @0.01 |
100 lot |
50% |
1:2 |
0.001 |
0.003 |
|
|
100 DOG |
1 with next step @0.01 |
100 lot |
50% |
1:2 |
0.001 |
0.001 |
IC Markets’ crypto fees
One of the benefits of trading cryptocurrencies with IC Markets is its clear breakdown of fees. The broker doesn’t charge commissions on crypto CFD trades, helping traders save money. Instead, fees come from spreads and swap rates. A spread is simply the gap between the buying and selling price, where lower spreads mean better conditions for investors. The swap rate, however, is a percentage deducted each day for holding long positions.
When looking at the IC Markets crypto trading fees, the absence of commission charges is a big advantage. However, traders should consider how variable spreads and swap rates can affect their overall costs. Understanding how these fees build up over time is important for keeping trading costs under control and ensuring profitability.
Can I deposit and withdraw cryptocurrencies?
As a CFD-based platform, IC Markets doesn't require traders to keep cryptocurrencies in their accounts to trade. However, for those involved in crypto trading on IC Markets, deposits and withdrawals are handled using fiat currencies like USD, GBP, JPY, CAD, HKD, and CHF. Direct crypto deposits or withdrawals are not supported by the platform.
For traders using IC Markets crypto trading, withdrawing funds is straightforward but limited to fiat currencies. Withdrawals can be made through bank transfers, credit/debit cards, or e-wallets, making it easy for traders to work with traditional financial methods. While crypto withdrawals aren’t an option, the fiat choices keep things simple and easy for users.
IC Markets alternatives
Looking at the pros and cons, it’s quite clear that direct crypto trading weighs better than crypto CFDs for the longer term. So, TU’s experts have shortlisted two primary alternatives for IC Markets that offer direct trading facilities.
Coinbase
-
Third largest crypto exchange in the world based on volume;
-
Supports 210+ cryptocurrencies including almost all of the top 30 coins by market capitalization;
-
Offers crypto wallet and direct crypto trading facilities;
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Does not offer crypto CFDs.
eToro
-
Supports 75+ cryptos including quite a few of the top 30 coins by market capitalization;
-
Offers crypto wallet and direct crypto trading facilities, as well as crypto CFDs;
-
Offers copy trading.
Conclusion
IC Markets offers crypto trading via CFDs, allowing traders to speculate on price movements without owning assets. With zero commissions, flexible conditions, and integration with MetaTrader and cTrader, it’s a solid choice for CFD traders. However, limited leverage (1:2), swap fees, and no direct crypto deposits or withdrawals may be drawbacks.
For those preferring direct crypto trading, platforms like Coinbase or eToro are better alternatives. IC Markets is ideal for traders focusing on speculative strategies without handling actual crypto assets.
FAQs
What is the swap rate?
In the case of CFDs, the swap rate is the rate an investor has to pay for each day the transaction maintains a long position in a contract.
What are hedged positions?
Positions that are backed by collateral in the form of additional funds or the underlying asset itself are called hedged positions.
How to interpret leverage?
If the leverage is quoted as 1:2, it means that for every $1 kept as margin, the trader would be able to enter into a position with a value of $2.
What is copy trading?
Copy trading is a method of trading that involves copying a successful trader’s positions to benefit from his skills and expertise.
How does IC Markets handle crypto trading?
With IC Markets' approach to crypto trading, users engage in cryptocurrency CFDs rather than owning the actual assets. This allows traders to speculate on price movements without needing a crypto wallet or direct coin transactions.
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Team that worked on the article
Rinat Gismatullin is an entrepreneur and a business expert with 9 years of experience in trading. He focuses on long-term investing, but also uses intraday trading. He is a private consultant on investing in digital assets and personal finance. Rinat holds two degrees in Economy and Linguistics.
Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.
As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).