IC Markets Trading Account – Review, Types, Process, Benefits, Charges & more
Know everything about IC Markets Trading Account here. Trading accounts are something that you cannot do without while trading.
Whether you are stocks or currencies or for that matter any other asset, you need a trading account.
In this article, we will evaluate how beneficial an IC Markets trading account is for your trading requirements.
The article will have all the aspects of the trading account whether its features, account opening, and set-up, benefits, charges, and others.
So, you can get an overall idea about how to do IC Markets online trading.
IC Markets Trading Account and Benefits
IC Markets trading account is one of the most popular trading accounts amongst forex traders across the globe.
It has all the right reasons for the same. This brokerage house was set up in 2007 by Andrew Budzinski.
It is an Australia-based brokerage house that has around 200 employees.
The brokerage house is regulated by ASIC, CySEC, and FSA (SC). The company is a privately held firm.
Benefits of IC Markets trading account are
- The trading account of IC markets provides very lower spreads. This helps you to maximize your profits. With high-end technology, this broker tries to minimize the gaps and lower the spread. This is also due to the relationships it has with multiple liquidity providers.
- You can get your orders executed exceptionally faster with this trading account. They have highly advanced trading platforms which help in order execution within a blink of an eye.
- As said above, the primary benefit is the advanced technology the broker uses for all its services. It has high-end terminals, backed by advanced software.
- There are different choices of the traders to fill the lots. It can be any size from small to large lots.
- With an IC Markets trading account, you get unparalleled leverage.
- Customer service is another major benefit of trading with IC markets. They are available in different languages.
- It is a regulated brokerage house, so there is ultimate safety of your money and asset holdings. Moreover, regulations keep everything in a check and there is no chance of fraud.
Fill up the Form – Open Forex Trading Account Now!
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IC Markets Trading Account Charges
|Trading Account Charges|
|Account Type||Standard||Raw Spread||Raw Spread (cTrader)|
|Initial Deposit||$200||its $200||$200|
|Spread||Spreads from 1.0 pips||its 0.0 pips||Spreads from 0.0 pips|
The charges for the IC Markets trading account are different for each of the types of account.
While the standard account has no commission, both Raw Speed and Raw Speed (cTRader) accounts are having commission on the trades.
The initial deposit is $200 for all three accounts that are $200.
The initial deposit is pretty nominal compared to many peers in the industry.
As you can see both the deposit and the commission are very reasonable in all types of accounts. This boosts the traders’ confidence and also helps them trade more.
Types of IC Markets Trading Account
|Types of Trading Account|
|Trading Desk Type||ECN, No dealing desk|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||Yes|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||Yes|
There are three types of accounts that IC Markets provide to the clients for trading.
This is the basic account where you get a spread of 1 pip, however, you do not have to pay any commission when you trade using this account.
The leverage that this type of account holder gets is 500 times.
Raw Speed Account
In this account, the spread starts from 0.0 pips only.
So, you can understand how profitable it would be.
The leverage is again 500 times which is huge as well. However, there are commissions on the trades you do use this account.
Raw Speed (cTrader) Account
The features of this account are the same as the Raw Speed account.
The same spread of 0.0 pips and above. Then it also provides 500 times leverage to the client and has been commissioned.
The leverage is really exceptional for each of the accounts.
All of them provide 500 times leverage. This means you can trade 500 times more of what you have in your trading account.
Suppose, you have $1000 in your trading account, but you need $300 to buy a lot/s that you were eagerly waiting for.
You can easily buy the same using leverage.
IC Markets Account Opening and Trading Process
Now as you know the charges, benefits, and if you are convinced to open IC Markets trading account, then here are the steps for you –
IC Markets Account opening process
- Click on the open account option
- Fill in the pop-up form
- Enter all the details like name, contact details, occupation, choice of account, and other details as on the form
- Then submit the form for evaluation
- You need to submit the documents for supporting your application
- Make sure you upload all the required documents in the correct format as mentioned
- Then wait for their verification and approval
- Once you get the approval, you will be receiving the id and the password.
IC Markets Login process
Before you can log in to your account, you would be needing the trading platforms.
Any of the platforms you can choose or download from them.
After downloading, click on the login option.
Then enter the login credentials that are the id and password you got in the email on approval of the account.
Then you can see all the details of your account on the platform.
To set up the trading platform, you need to add the assets or the individual instruments you want to trade.
Then you can add up to multiple alerts and notifications for being updated about the market.
Once your account is ready, you can start trading –
- Click on the individual financial instrument
- Click on Buy/ Sell. Enter the units you want to trade, price, and submit the order.
- If you want to modify the order, click on modify. You can then change the units, price, stop-loss, etc.
- You can also click on the cancel option if you want to cancel the order
Find Different Trading Account Types of Forex Brokers
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|Oanda Trading Account||PrimeXBT Trading Account||Thinkmarkets Trading Account|
IC Markets Trading Account – Features
|Social Trading / Copy Trading||Yes|
|Guaranteed Stop Loss||Yes|
|Guaranteed Limit Orders||Yes|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||No|
|Interest On Margin||No|
|Other Trading Features||No|
The features that IC Markets brings to the table with its trading account are like –
- It provides copy trading or social trading features to the client. With this feature, you can copy the trade of the famous or profit-making traders and imply the same strategy in your trades.
- There is an abundance of educational resources and services that you can avail yourself of with IC Markets trading account.
- There is a multiple alerts system. The alerts can be fixed for price movements, price drops. This will keep you updated and you can explore more opportunities. The chances of missing out from the market reduce with these alerts.
- You can use the guaranteed stop-loss feature as well as guaranteed limit orders. This order features help in minimizing the losses. These features help in canceling the orders if the targeted price is not achieved.
- Similarly, there are trailing SP/TP.
- VPS services and OCO orders and many others.
Check out Online Trading Services of FOREX Brokers
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IC Markets Trading Account – Conclusion
With an IC Markets trading account, you can easily trade different instruments.
The profit can be comparatively higher compared to other brokerage houses as the spread is really low.
The charges are also pretty reasonable which is why this brokerage house and its trading accounts are quite popular.
IC Markets Online Trading – FAQs
Here is the list of FAQs related to the IC Markets Online Trading:
Do IC Markets provide Online Trading?
Yes, there is an online trading facility available with IC Markets.
Online trading is available on each of its platforms.
You can just use your mobile device or computer and trade all the assets you want using the IC Markets Trading account.
What are the Commission Charges in IC Markets?
There is no commission on the trades via a Standard account.
However, both Raw Speed and Raw Speed (cTrader) accounts have commissions.
Do IC Markets provide Demo account Trading?
Yes, IC Markets provides a Demo account for the clients.
For the demo accounts, you can open and use the trading platforms as well.
You can use this for virtual trading and learn how to trade in real life. Then you can enter the real market with real cash.
Is trading Free at IC Markets?
No, not all the accounts are free.
There is a very nominal commission you need to pay for trading with IC Markets Raw Speed and Raw Speed (cTrader) accounts.
However, the charges are pretty nominal and thus it doesn’t affect your profit from the trades much.
Do IC Markets provide Spot Metals Trading?
Yes, the IC Markets trading account has a spot metals trading facility.
This facility is one such unique facility that IC Markets give.
Trading metals in the market at the market price is a great opportunity.
What are Spot Metals Trading Charges at IC Markets?
The charges depend on the type of account you are choosing for trading them.
The charges will vary and thus you need to calculate them before you trade them.
Do IC Markets provide Stock Trading?
Yes, you can trade stocks of companies that are available with IC Markets using the IC Markets trading account.
This trading account is not only for trading forex, there are all kinds of assets that you can trade.
What is spread at IC Markets?
The spread at IC Markets is different for different types of accounts.
For the standard account, it is 1.0 pips while for other accounts it is 0 pips onwards.
This brokerage house provides one of the lowest spreads which enables the traders to trade smoothly and optimize their profits.
Is IC Markets safe for trading?
Yes, with IC Markets, you get one of the security and safety of your trading account and the assets.
The trading accounts can open on the trading platforms and those platforms are encrypted with high-end technology and security protocols.
Do IC Markets provide Trading Tips?
Yes, it is a full-fledged brokerage house with all research and advisory departments.
They provide multiple tips for trading.
The trading tips are necessary for both the new as well as pro traders.
The trading tips can help them a lot in understanding the market and it can be an aid to their own research.
Fill up the Form – Open Forex Trading Account Now!
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