If you are learning about forex trading platforms, then surely you have heard about ICMarkets. This is an exchange with a long history. It is on the list of top forex brokers globally today. In this article, IC Trading will provide detailed information about the forex ICMarkets . Invite traders to follow along!

Is ICMarkets floor really reputable?

The top concern of traders when choosing a broker is the reliability of the broker. To make an assessment of IC Markets’ reputation, it is necessary to focus on many different factors. Here are some evaluation criteria that traders cannot ignore:

Operation license of IC Forex ICMarkets floor

To build customer trust, most forex trading platforms often seek licenses from trusted financial institutions. And so is ICMarkets.

ICMarkets is authorized and regulated by ASIC (Australian Securities and Investments Commission). This is considered one of the most trusted financial management organizations in the world. To ensure fairness and transparency for the foreign exchange trading market in Australia.

In addition, ICMarkets has also been licensed by AFSL (Australian Financial Services License) with number 335692. Allows operations in the financial sector in Australia.

In addition, ICMarkets is also a member of AFCA (Australian Financial Complaints Authority). This organization has the function of resolving complaints and disputes between investors. Or brokerage floors in case of conflicts.

IC Markets’ protection policy for customers

Supervised by trusted financial institutions. This requires the forex ICMarkets trading floor to follow strict regulations to protect the interests of customers. Include the following points:

• Account separation: The trading platform needs to ensure that the investor’s account is completely separate from the company’s account. To prevent any fraud on customer accounts.
• Indemnification Agreement: ICMarkets also established an indemnification agreement with Lloyds of London. To protect customers in case of a dispute. Or the exchange cannot pay or is at risk of bankruptcy.
• Independent audit: ICMarkets is also a member of an independent external audit unit. Ensure full compliance with legal requirements and operational procedures.

These measures ensure that ICMarkets complies with safety and legal standards. At the same time, we ensure that customers will be protected in all situations.

>>See more: ICMarkets register on your phone is the fastest

ICMarkets forex floor operating hours

Launched in 2007, up to now ICMarkets has existed in the financial investment market for 15 years. This is a significant amount of time compared to most trading platforms today. 

During that period, ICMarkets has operated responsibly towards its customers. There is no information confirming that ICMarkets has committed fraud against players.

However, it is necessary to objectively state that, in fact, there still exist some situations where some people have posted articles on social networking sites reflecting on ICMarkets with the content: “ICMarkets performs the following actions: money scam, limited withdrawal of 1.1 billion, only refunded 412 million to customers.” 

However, there is no concrete evidence to prove these assertions. All of this information only stops at the level of attracting likes and interactions on social networks.

Trading platform of ICMarkets forex floor

MT4 & MT5 Platforms

MT4 and MT5 are two of the most popular platforms in the financial markets. Chosen by most foreign exchange exchanges to provide to customers. With a simple and user-friendly interface, integrated easy operation features, and ICMarkets full support of trading tools. MT4 and MT5 are currently the top choices of many investors.

There are some outstanding features of the MT4/MT5 platform on ICMarkets as follows:

• Super fast trading speed: Both IC Markets MT4 and MT5 servers are located at the Equinix NY4 data center in New York. Helps achieve extremely fast order-matching speed.
• Supports product diversity: The platform supports trading on a variety of products. Like forex, stocks, bonds, cryptocurrencies, and commodities.
• Raw Pricing connection: Using Raw Pricing helps connect directly to leading liquidity providers in the world, optimizing trading conditions.
• No limit on trade size: There is no limit on trade size, you can place small orders from 0.01 lot and there is no maximum limit.
• Low spreads: Low spreads, even the average spread of the EUR/USD currency pair is only about 0.1 pip, one of the lowest globally.

cTrader ICMarkets platform

The cTrader trading platform is also a popular choice developed by the UK company Systems Ltd. Not only ICMarkets forex, but many other exchanges are also using this platform. Although launched after MT4 and MT5, cTrader still has notable advantages and features:

• Connect to Raw Pricing: The cTrader platform connects to the Raw Pricing system. It gives clients access to deep liquidity and optimized trading conditions.
• Extremely fast order execution speed: ICMarkets cTrader servers are located at the LD5 IBX Equinix Data Center in London. This provides extremely fast order-matching speed.
• Real-time quotes: cTrader provides real-time forex and CFD quotes. To help investors update information quickly.
• Micro lot trading: Ability to trade micro lots, with a minimum size of 0.01. There is no maximum lot limit.
• Level II Pricing: The platform provides Level II pricing with full market depth.
• Easy Trading: Trade with just one click. Helps optimize user experiences.
• Smart stop-out level: cTrader has a built-in smart stop-out level, which automatically closes a portion of losing orders when assets drop to the stop-out level to protect capital.

If you have never experienced this platform, don’t hesitate to give it a try. Surely these features of cTrader will not disappoint you.

>>See more: ICMarkets cTrader: The trading platform’s best efficiency

ICMarkets trading fees

Commission fees in ICMarkets Forex floor

Is the commission fee on Forex ICMarkets really reputable? It varies depending on the type of account. Standard accounts on ICMarkets do not charge direct commissions. Instead, you will incur higher Spread fees. 

Meanwhile, with the Raw Spread account, the commission fee is 3 USD for every 100,000 USD traded. cTrader accounts have a commission fee of 3.5 USD. Note that commission fees only apply to Forex and metals trading. Fees are charged both when opening an order and when closing an order.

Spread on ICMarkets floor

Currently, ICMarkets is offering extremely low spreads, from only 0.0 pip. However, spreads may vary depending on the account and type of trading product.

• The standard account is equipped with floating spreads starting from 0.6 pips.
• The other 2 account types will have spreads from 0.0 pip.

It is impossible not to mention the EUR/USD currency pair with the lowest spread. Only 0.1 pip remained for the period 5/24. This is certainly the lowest spread in the global market. Other products will have flexible pip numbers according to market fluctuations.

These spreads help optimize trading and bring significant benefits to investors on the ICMarkets platform.

ICMarkets leverage

Forex ICMarkets has set a maximum leverage of 1:500 for all account types. However, this leverage level will vary depending on each specific trading product as follows:

• Forex: Leverage level 1:500.
• Commodities: Leverage level 1:500.
• Index: Leverage level 1:200.
• Bonds: Leverage level 1:200.
• Futures contracts: Leverage level 1:200.
• Cryptocurrency (Crypto): Leverage level 1:200 on MT4/MT5 platform. Leverage level 1:5 on the cTrader platform.

These leverage levels will help investors effectively utilize their accounts in various transactions. Depending on the product type and specific trading strategy.

ICMarkets forex financial tools

• Forex pairs: ICMarkets provides up to 64 Forex pairs for trading. Includes major, minor, and exotic pairs such as USD/ZAR or ZAR/JPY. This is the average level offered by the platform’s most competitive competitors.
• Commodities: ICMarkets offers trading in more than 13 commodities. Includes metals, energies, average compared to most other brokers.
• Stock CFDs: The number of stock CFDs ICMarkets offers is average compared to most competitors, with 1,600 stock CFDs available to trade. Including famous American technology companies, ASX stocks, companies listed on NASDAQ and NYSE, etc. Traders should note that stock CFD trading is only done on MT5.
• Indices: ICMarkets supports cash and futures contracts on 23 international indices. Including NASDAQ, S and P500, FTSE100, and Nikkei. This is the average number of indexes compared to other brokers.
• Bonds: ICMarkets allows the trading of 11 bonds. More than most other brokers on the market.
• Futures contracts: ICMarkets allows trading on 4 global futures contracts. Including DXY, VIX, BRENT, and WTI, this is average compared to most other brokers.

Overall, both the range and depth of financial instruments at ICMarkets are very wide compared to other exchanges.

Conclude

Above, IC Trading has provided the best objective reviews about forex ICMarkets. Hopefully, they can assist people in deciding whether or not to participate in trading here. Whatever the final decision, the most important thing is knowledge about trading. Wishing you a right and appropriate choice!

Frequently asked questions:

What advantages do ICMarkets have compared to other trading platforms?

ICMarkets stands out with many advantages compared to other trading platforms. Includes ECN/STP trading, high leverage, and low transaction fees. Ability to trade automatically via MT4, MT5, and cTrader software.

Is IC Markets really trustworthy?

Yes, ICMarkets is a leading reliable forex trading platform on the market. This exchange possesses licenses issued by leading financial regulatory agencies such as ASIC, CySEC, FSA,… This ensures traders a safe and reliable trading environment.

What is ICMarkets’ customer support like?

Forex ICMarkets has fast and effective customer support through many different channels. Including via email, phone, and online chat. This helps ensure that customer queries and issues are resolved in the best way possible.