IC Markets

IC Markets has been successfully working in financial markets since 2007, providing a full range of services to traders worldwide (up to 160 countries). The company was founded by a group of experienced financial professionals. That’s why the platform ensures the most comfortable terms of trade. Today, after many years of dynamic development, it’s one of the largest brokers in the foreign exchange market and CFD contracts in Australia. It’s capable of satisfying the demands of any user.

Of course, you’d like to know whether IC Markets is a scam or a worthy experienced company. Just keep reading this review to find out.

The broker’s number one goal is to overcome the gap between individual and institutional clients and provide an average trader with those trading solutions previously available only to investment banks as well as large private investors. One of the most interesting innovative tools is IC Markets True ECN, which boasts fast transaction execution technology, low spreads, and interbank liquidity.

Trying to stand out from its competitors and maximally satisfy the demands of its clients, the broker provides favorable trading conditions in the foreign exchange market: narrow spreads (for True ECN accounts they start from 0.0 points), the possibility of holding funds on a deposit in up to 10 currencies, fast execution of orders as well as a high level of customer service. Due to broad cooperation with the world’s best suppliers of trading technologies, the company can provide its customers with advanced trading solutions: a book of orders, built-in spread monitoring, ladder trading, automated closing of trading positions, etc. As for mobile applications developed by the broker, they are specially designed for maximum convenience.

This Forex broker is concerned with ensuring transparency of trade: all transactions take place immediately in its ECN and via liquidity providers, which means that the trader works directly with the real interbank foreign exchange market. A unique environment provides high-quality services without restrictions on trade: scalping, hedging, automatic trading, etc.

The broker’s team has wide experience in the field of currency trading. They perfectly understand the needs of their clients. For trading, you have two excellent options: MetaTrader 4 and cTrader. They can make your trading profitable. Based on the quotations of more than 50 different banks and over-the-counter sites, IC Markets offers some of the most profitable quotations in the foreign exchange market. Considering the high speed of the execution of transactions, the broker has become one of the best trading options for intraday traders and scalpers.

Replenishment and Withdrawal of Funds

IC Markets offers different ways to deposit funds and withdraw earnings. To replenish your trading account, you need to go through the registration procedure with the broker and deposit the desired amount by choosing a convenient way of transferring funds:

• Credit and debit cards: VISA, Union Pay, and MasterCard,
• Bank transfers SWIFT,
• Electronic payment systems (Neteller, Skrill, BPay, FasaPay, WebMoney).

You can open an account in a variety of currencies of your choice. Funds are transferred instantly. When it comes to withdrawals, you can only use those payment methods that were used to fund your account. It may take up to 3 business days for your earnings to be processed and available for withdrawal.

Complaints about IC Markets

There are various reviews about this broker online. Traders are interested in finding the best conditions and they hope to find them on this platform. At the moment, we note that positive reviews dominate. In most cases, traders highly praise the platform’s reliability, trouble-free withdrawal of earnings, favorable terms of trade, low spreads, many useful services, highly responsive technical support managers, instant execution of deals (it’s one of the fastest in the Forex market), high-quality analytics, and useful materials on the site. Many traders agree that the broker is ideal for newcomers, scalpers, and those who are fond of using advisers (truth about Forex).

Of course, there are also negative aspects. A lot of identical negative reviews could indicate that they are spam. Most of these negative reviews relate to the following issues: a complicated registration procedure and withdrawal of money (delays, freezes, rejections without explanation), problems with the trading terminal (slippage when opening, closing, and modifying orders, and also re-quotes and suspension of service). To avoid negative experiences when working with a broker, we recommend that you correctly verify your trading account and discuss the details and potential issues associated with the use of bonuses and withdrawal procedures with your personal manager.

Is IC Markets a Scam?

Today IC Markets is a large successful Forex broker who has worked with traders around the world for more than 10 years. The company offers high-quality services and profitable Forex trading conditions. There are enough positive reviews about the company online, which boosts its credibility. In many ways, it proves that it’s not a one-day broker. Certainly, there are some negative reviews, but they are not numerous. Moreover, these reviews have a lot in common with spam.

Another positive factor is the provision of one of the most popular trading terminals – MetaTrader 4. Additionally, traders can count on the broker’s exclusive mobile applications and its impressive and unique service IC Markets True ECN, which features a strikingly fast transaction execution technology. Other virtues include low spreads as well as interbank liquidity. By setting one of its goals to develop a unique qualitative service and successfully implement it (which is confirmed by positive reviews from traders), the broker shows its serious intentions and a strong desire to take a leadership position and stand out from its competitors.

The official website of the company deserves special attention. The site is very simple and intuitive to use, but its small font complicates the overall perception of the material. The resource contains a lot of useful materials: liquidity providers, terms of trade, available accounts, analytical as well as training materials, etc. – all of this indicates a thoughtful policy of working with the user. That’s what scams never do. The company has a license. The clients have an opportunity to opt for technical support and use analytics (news, trade calendar, calculator, market analysis), and trade is quite profitable on the platform. As for communication, there is a general line (for international calls) and there are separate phone numbers for 6 countries, you can also send a message via online form, or launch a live chat with the support team on its website.  In addition, the company doesn’t provide information about the current bonuses on the website. However, this doesn’t prevent traders from working on the site and earning a decent income.

Should we consider IC Markets a scam? No! Many years of successful work with traders worldwide, the provision of a unique and high-quality service, and positive reviews on the Internet – all of this proves that it’s not a fraudster. Nevertheless, to avoid problems with the broker, you should properly work with your manager. You should specify all of the necessary information about the rules of the withdrawal procedures, etc.

Regulation of the Broker

IC Markets prioritizes compliance with laws, regulations, and standards, maintaining rigorous management discipline and top-notch controls. As a CySEC-regulated entity, IC Markets meets strict financial standards, including capital adequacy and audit requirements. Client funds are held in segregated trust accounts with leading European banks, managed according to MiFID rules, and kept separate from IC Markets’ company funds, solely for facilitating clients’ trading activities.

• Check the CySEC registration and license

IC Markets is licensed by the Australian Securities and Investment Commission (ASIC, No.3,35692). The company was registered in 2007. It operates under the Australian Finance License (AFSL, No.335692). All funds of traders are transferred to the trust account of an Australian bank. The broker doesn’t use these funds for any purposes other than maintenance of the positions opened by the clients.

• Check the license of IC Markets on the AFSL website
• Check the license of IC Markets on the ASIC website

Conclusion

The Forex broker IC Markets has been successfully working in the financial markets for 17 years. It’s rightly considered to be one of the industry leaders. Following current trends, providing unique services (for example, a book of orders, built-in spread monitoring, ladder trade, etc.), reliable terminals, favorable trading conditions (narrow spreads, an ability to work with several currencies, a small deposit size, fast execution orders, etc.), the company successfully attracts the attention of traders.

A large number of positive reviews about this company make us trust it. The informative website of IC Markets provides various ways to deposit and withdraw funds, and the availability of a license positively characterizes the company. Additionally, we should note the service of True ECN by IC Markets, which is designed to make trading as transparent and simple as possible. For 10 years, IC Markets has proven its reliability and stability. That’s why we cannot label it as a fraudulent company.

It’s important to remember that trading Forex and CFDs can be risky, and can lead to both profits and losses. Trading involves risk, and you could lose more than you initially invested. You need to understand and be aware of the fact that trading financial products inherently involves risk and requires significant knowledge and experience. If you wish to engage in this activity, you must confirm that you are aware of the risks involved and have sufficient resources to handle the consequences.

The responses from traders that we are waiting for in this article will affect the rating of the broker on our website. Additionally, they will warn investors against possible future problems.