IC Markets Demo Account Review
If you're considering IC Markets as your first forex trading broker, you may be wondering how to open and use a demo account. There are several ways to do so, and they all differ in the type of account you can open. If you're new to trading, an IC Markets demo account can help you hone your technical analysis skills and get your feet wet. There are hundreds of charts to choose from, and multiple technical indicators to help you make the right decisions. Traders Union has prepared a review of IC Markets mt4 id for traders.
IC Markets Demo Account Review
There are many advantages of IC Markets demo account. It has no fees, offers market-based spreads, and allows you to use all three trading platforms without risking your money.
IC Markets offers a wide selection of currency pairs, commodities, and indices. Its trading platform is loaded with additional research tools, including Autochartist. Those who use MetaTrader can benefit from an online community dedicated to the MQL5 programming language.
IC Markets also offers support for traders who have questions. Its customer service staff consists of specialists with extensive experience in the financial industry, and they are available around the clock.
Types of IC Markets Demo Accounts
There are 4 types of demo accounts, and each has its pros and cons. It can even let you place stops and margins. Some demo accounts even have mobile apps. If you are unsure about which demo account to use, consider reading user reviews.
IC Markets Standard Account: Investing in the IC Markets Standard Account will provide you with access to valuable trading tools. You will also be able to trade a variety of assets without any minimum trade requirements. Alternatively, you can open a Demo Account to trade in a simulated environment before making a real-money deposit.
IC Markets Raw Spread Account: IC Markets offers tight spreads for both cTrader and the Raw Spread Account. Both accounts have low commission fees and support leverage up to 500:1. Depending on the type of account, IC Markets may not charge you a commission fee for every trade you make.
IC Markets cTrader Account: If you're thinking about opening an IC Markets cTrader account, you may have questions about the registration process. It is a quick and hassle-free five-step digital process, and an account is typically open and ready to use the same day.
IC Markets Islamic Accounts: There are a variety of benefits of IC Markets Islamic Accounts. For one, you can maintain open positions without incurring rollover charges. If a trader chooses to open an Islamic Account, they can also request the account to be converted to a standard MetaTrader account. Moreover, spreads for the Islamic Accounts start at 0.0 pips, while those for the Standard Account are 0.6 pips. IC Markets also offers various Islamic Account features.
Is Forex Trading Halal?IC Markets MT4 Demo Account Review
There are many reasons to use an IC Markets mt4 demo account before committing to a live account, but the most important of these is to practice before risking any money. A demo account allows you to test out all of the features of an MT4 trading platform before you invest any money.
Despite having market-like settings, you should be aware that live and demo trading differs in a number of ways. The fact that paper trading cannot seriously injure someone is without a doubt the most evident one.
Despite this, you should still treat your demo trading quite seriously. You should aim to treat this account identically to your IC Markets real account as it is where you may train for live trading. Another thing to keep in mind is that there isn't much slippage on a demo platform, which isn't necessarily the case in real-world settings. Despite all of that, one thing you should remember is that you won't be able to earn money on a live account if you can't make it in a demo account. Before you put any trading funds in danger, you must have a workable and realistic approach. You may be getting ready for IC Markets paper trading from now.
How to Open IC Markets Demo Account
You might be interested in learning how to open a demo account with IC Markets. IC Markets offers both a standard account and a true ECN account. IC Markets also offers indices and a standard account.
Step 1 – Select “Try Demo Account
You have to visit the web page of IC Markets and click “ Try A Free Demo” as like as shown here.
How to Open an IC Markets Demo Account
Step 2 – Complete information
After clicking the “Try A Free Demo” option you will be redirected to the information page. Then you have to provide yourself with all the necessary information according to the required form. Finally, you have to click the “Register” option to submit your information for verification.
How to Open an IC Markets Demo Account
Step 3 – Verification
All of your information and submitted documents will be checked and verified and you will be confirmed as an IC Markets Demo Account holder at last. Finally, you can IC Markets practice account login and start your trading.
Is IC Markets Demo Account Good For Beginners?
Yes, the IC Markets Demo Account is good for the beginner. If you're just starting out with Forex trading, you may be wondering - Is IC Markets demo well for beginners? The great news is that this platform is designed to simulate real trading and it is absolutely good for beginners.
IC Markets offers MetaTrader 4 and MetaTrader 5 platforms
IC Markets uses cutting-edge trading technology to make trading as easy as possible for its clients. The MetaTrader 4 platform comes with many advanced trading tools, such as ladder trading and inbuilt spread monitoring. Traders can also take advantage of IC Markets' partner liquidity providers to get the lowest spreads.
It offers a variety of leverage options
IC Markets provides beginners with a free, advanced demo trading account that expires after 30 days. The demo account interface is easy to navigate and is an exact replica of the live trading dashboard. Despite being a challenge for novice traders, IC Markets' advanced demo account is a good place to test out automated trading strategies.
It offers an economic calendar
A comprehensive economic calendar is a must-have for any trader. This free tool will keep you informed of global economic events and news, and will also help you hedge risks around important releases. The IC Markets Demo has an economic calendar on its homepage to help traders manage risk around important economic releases.
FAQ
Do IC Markets provide Demo a/c?
Yes, IC Markets provides demo a/c. You can open a demo account on the IC Markets website. You must provide some basic information, including your name, country, email address, and phone number. You can then use the account for demo purposes to test the trading platform.
Is IC Markets Virtual Trading Platform Free?
Is IC Markets' Virtual Trading Platform free? The answer depends on your circumstances. A raw account costs $3.5 per lot, which includes the spread cost. In peak trading hours, this cost averages to 0.3 pips or 0.4 points. Other fee levels include non-trading, inactivity, and withdrawal fees. Some people may find these charges excessive, but it is still a better option than others.
Does IC Markets Charge Demo Account Opening Fee?
This question can be tricky to answer. However, there are some factors that you should keep in mind before making your final decision. One of the most important things is to consider the type of demo account you're interested in.
What Documents are required for an IC Markets Demo Account?
The documents you need to upload for KYC purpose of the IC Markets Demo account are:
PAN Card
AADHAAR Card
Address proof
Bank statement at least for the last six months
Income statement (optional)
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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!