IC Markets Commission or Brokerage Charges – Review, Plans, FAQs & more
Learn everything about IC Markets Commission or Brokerage Charges here.
The trading cost is the cost of trading any asset and one of its components and the major component is the commission.
So, when you are trading, you want to make a profit, and it can be increased if the cost goes down.
So, you need to find a brokerage house that has very reasonable and lower commission charges.
In this article, we will discuss the IC Markets charges and the other aspects of it. We will take you through the different IC Markets brokerage plans.
Then there will be many other details that you can learn about IC Markets from this article.
IC Markets Commission or Brokerage Charges
Since IC Markets commission is an integral part of your trading cost, you would want it to be lower. IC Markets has very reasonable and pocket-friendly commission plans.
They are meant for every broker with different needs. There are different commission plans thus.
The commission plans also need to be simple for the traders to understand and calculate the commission when trading.
When you are trading, make sure to calculate the trading cost so that you can anticipate the profit or loss on your trade and place the bet accordingly.
IC Markets charges apart from the brokerage is the initial deposit. Apart from that, there are no such charges that you have to bear.
The charges are affordable for all types of traders whether retail or institutional traders.
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Types of IC Markets Commission Plans
|Types of Commission Plans|
|Account Type||Standard||Raw Spread||Raw Spread (cTrader)|
|Initial Deposit||$200||$200||its $200|
|Spread||Spreads from 1.0 pips||Spreads from 0.0 pips||From 0.0 pips|
There are three types of plans which you can get with IC Markets where a commission is concerned.
These three plans are according to the type of account you are choosing.
Raw Spread Account:
Under this account type, the commission charge is $3.5 per lot per side.
This means when you are buying one lot of some asset, you need to pay commission in addition to the purchase price of the asset at the rate of $3.5 per lot.
The initial deposit requirement for this account is $200 which is pretty nominal.
The spread is also starting from 0 pips which is a great advantage.
The leverage you can expect is up to 500 times.
So, if you have $400 in your account you can trade assets amounting to $ 200000.
Raw Spread (cTrader):
There is another Raw Spread account where the initial deposit and leverage are the same as the Raw Spread account mentioned above but the commission is lower.
The commission here is $3 per $100k. This means you will have to pay $3 when your trade assets are worth $100K.
The spread is again 0 pips which is a great benefit for the traders.
This is a commission-free account. In this account, there are no commission charges attached to it. The commission is 0.
The initial deposit is again $200 and the spread is 1 pip, higher than the other two accounts. The leverage is the same and it can go up to 500 times.
So, as you can see the IC Markets commission differs from one type of account to another. You need to decide the type of account based on its features and benefits.
Like a standard account has no commission but the spread is higher than Raw spread accounts.
On the other hand, Raw spread accounts have a commission factor but the spread is 0.
So, you need to compare and evaluate each of the options and then choose the one which suits your trading needs the most.
IC Markets Account Opening Process
The process for opening the account with IC Markets is as follows –
- Click on the tab called “Open Demo Account”
- Fill the form that pops up on the screen
- Submit the form
- Wait for the IC Markets’ associates to call you
- They will ask for documents for verification, upload the scan copy of those documents
- Once the details are being verified, your account will be live, provided the application gets approved
- You will then receive the login credentials in your registered mail id
- Then you can easily open the trading platform and log in and access your account.
IC Markets Payment or Withdrawal Methods
|Deposit Options||Credit Card, Neteller, PayPal, Skrill, Western Union, Wire Transfer|
|Withdrawal Options||Credit Card, Neteller, PayPal, Skrill, Western Union, Wire Transfer|
The payment methods are crucial for each trader. It is crucial because the funds are being transferred if they get hacked or misplaced, then it will be an irrecoverable loss to them.
So, you must check which all methods for deposit and withdrawal are there with IC Markets.
There are a total of six methods that you can use. While most of them are online payment methods, you can rely on them as they are well-secured payment platforms.
- Credit Card
- Western Union
- Wire Transfer
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IC Markets Investment Assets
|Supported Cryptocoins||bitcoin, bitcoin cash, dash, eos, ethereum, litecoin, peercoin, ripple|
|Total Tradable Assets||236|
|Number Of Currency Pairs||60|
|Number Of Cryptocurrencies||10|
|Number Of Stocks||120|
|Number Of Indices||17|
|Number Of Commodities||19|
|Number Of Futures||4|
|Number Of Options||0|
|Number Of Bonds||10|
|Number Of ETFs||0|
Now you know about the commission, payment methods, so let us see which are assets you can trade using the IC Markets platform. The available assets –
- There are more than 50 types of Currencies pairs
- There are ten types of cryptocurrencies that you can trade. They are –
- Bitcoin Cash
- There are in total 236 tradable assets
- 120 company’s stocks are available
- There are around 19 commodities
- 4 future contracts
- There are 17 indices from different countries
IC Markets Commission – Conclusion
With this wide variety of assets and lower commission rates, IC Markets is one of the most popular and affordable brokers in the market at present.
The range of products and services is huge and that too when the IC Markets charges are so low.
This is incredible to see such a brokerage house. It can help you have a great trading experience in every possible way.
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IC Markets Charges or Fees – FAQs
Here is the list of FAQs related to the IC Markets Brokerage Charges or Fees:
Do IC Markets charge commission?
Yes, IC Markets have commission charges for using its trading services. However, it is applicable when you choose Raw spread accounts.
There are no commission charges for the standard account.
How much does IC Markets charge brokerage?
The commission charge for the Raw spread account is $3.5 per lot per side.
While it is $3 per $100K for the Raw Spread (cTrader) account. For the standard account, it is 0.
What is the Minimum Deposit required in IC Markets?
The minimum deposit is the same across all three types of accounts. You need to keep $200 in the account for trading.
How much leverage do IC Markets provide?
The leverage which you can get is up to 500 times. The leverage of 500 times is good and required by the traders especially if trading in bulk.
How much is spread at IC Markets?
The spread is 0 for the Raw spread accounts and 0 pips for the standard account. The spread also varies according to the type of account.
What type of Commission Plans are available in IC Markets?
The commission plans are direct. They are simple and you can calculate them easily.
Do IC Markets provide Cryptocurrency for Investment?
Yes, there are 10 types of cryptocurrencies available with IC Markets that you can trade. There are all the major currencies like BTC, BTC Cash, Ethereum, and others.
Is IC Markets a legit Forex Broker?
Yes, it is a completely legit and safe broker. It has its headquarter in Australia and is regulated by ASIC, CySEC, FSA (SC).
Can I invest in IC Markets with $5?
No, the initial deposit or the minimum deposit you need to keep is $200 for each of the accounts. So, it is not possible to trade using just $5 with IC Markets.
Are there any hidden charges available with IC Markets?
No, there are no hidden charges that the IC market levies on the trades. It is absolutely clear and transparent.
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