IC Markets Review (Forex broker review 2020)

This is an IC Markets review by a trader who has traded with IC Markets on a live account.

International Capital Markets Pty Ltd (IC Markets) is by far one of the best forex brokers I have traded with.

I gladly recommend it to anyone looking for a top forex broker with super-tight spreads.

As a true ECN forex broker IC Markets trading costs – spreads and commissions – are low.

If you are looking for a good forex broker that accepts PayPal, then IC Markets is for you.

(See the list below for countries in Africa that can send and receive money with PayPal)

IC Markets review 2020.

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IC Markets Review
Quick info
Founded: 2007
Regulator: ASIC Australia, FSA Seychelles, CySEC Cyprus
Minimum deposit: $200
Leverage: Up to 1:500
Average spreads : 0 (cTrader and Raw spread) and from 1.0 – Standard
Commissions : only on cTrader –  $6.0 and Raw Spread – $7 per lot round-turn
Platforms: MT4, MT5, cTrader, Web, Mobile  
  Why trade forex with IC Markets.
– Super tight spreads
– Multiple withdraw and deposit methods
– Supports PayPal deposits and withdrawal
– Regulated broker    

IC Markets Review

Regulation – 4.8

ASIC Australia, FSA Seychelles, CySEC Cyprus

Trading Instruments – 4.9

IC Markets offers a range of trading instruments for every trader. They have: Forex, Indices, Commodities, Stocks, Bonds, Crypto, and Futures.

Trading costs – 4.9

IC Markets has the tightest spreads in its raw account starting from 0 pips and oscillating around 0 – 0.3 on major pairs (EURUSD, GBPUSD, USDJPY). That’s tight.

On the ECN accounts IC Markets charges a commision of $6.0 per lot round-turn on cTrader and $7 per lot round-turn on MT4 and MT5

Withdrawal and deposit methods – 4.9

VISA, Mastercard, PayPal, NETELLER, Skrill, UnionPay, Wire Transfer, Bpay, FasaPay, Broker to Broker, POLI, Thai Internet Banking, Rapidpay, Klarna, Bitcoin Wallet and Vietnamese Internet Banking.

Client money is held in Segregated Client Trust Accounts at National Australia Bank (NAB) and Westpac Banking Corporation (Westpac), both are AA rated Australian Banks.

Trading Platforms – 4.9

MetaTrader 4, MetaTrader 5, MT WebTrader, MT iPhone/iPad, MT Android, MT Mac
cTrader, cTrader Web, cTrader iPhone/iPad, cTrader Android, and cTrader cAlgo

Trade Execution – 4.7

Very fast without requotes.

Customer care and support – 4.3

Available 24/7

How to choose a forex broker

Our Forex Broker Review Criteria

Here are the criteria we used to review and pick the forex brokers on this list out of the hundreds of forex brokers out there.

  • Regulation – As a trader, your deposits must be safe. Only regulated brokers can give that assurance. They are required to meet stringent conditions before they are licensed. This protects your money.
  • Withdrawal and deposit methods. Once you are sure that your money is secure, you want to know how fast and conveniently you can deposit and withdraw your money. Almost all these broker have the standard deposit and withdraw methods – VISA, Wire transfer – but those that go the extra mile to provide local withdrawal methods like Mobile Money win.
  • Costs and fees – Even accounts that don’t have commissions have fees – we call those fees spreads. For scalpers, you want to trade with a broker who provides the tightest spreads and lowest commissions possible.
  • Platform and trading tools – The weapons of warfare to a trader are their laptop or computer or mobile phone, running the right trading platforms and trading tools. Always trade with a broker who provides the platforms and tools you are most comfortable trading with. All the above brokers come with Metatrader 4 as the standard. Others have Metatrader 5, and ICM markets additionally have cTrader. They all have web traders and apps for mobile trading.
  • Trade execution – It shouldn’t take ages to enter or get out of a trade. You want to get in when you click buy or sell and get out when you click close. It’s got to be fast—instant fast. You should keep in mind that your gadgets – computer, laptop, phone, internet connection – all play a big part in determining your trade execution speeds.
  • Customer care and support – once in a while, you may need the help of the guys behind your computer. Hasn’t a deposit gone through? Can’t log in? Can’t trade? Anything happens; a good broker like your partner should be a call away, a chat away, or an email away with the help you need to execute your trades.

Countries in Africa that can send and receive money with PayPal

Algeria, Kenya, Malawi, Mozambique, Morocco, Lesotho, Botswana, Seychelles, South AfricaMauritius, Egypt, and Senegal.

Final thoughts on IC Markets.

Do you want a good forex broker? IC Markets meets the criteria for the best forex broker to trade with.

Do you trade with IC Markets? Share with us your trading experience below.

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