IC Markets Review Australia & Test 2024

If you have done the necessary research and decided to join the world of online trading, you will most certainly be looking out for a new customer offer or experience catered to welcoming you to the online broker’s service. IC Markets Australia offers a free demo to any interested customers and this demo account will allow you complete access to their service. You will be able to have a firsthand look at what IC Markets has to offer without having to pay a cent. Besides that, there is a quickstart section that is aimed at helping new customers get going.

You will also find informative pages throughout their site that will detail each aspect of their service. Luckily our experts have been through their entire offer and detailed it all in one convenient location for you, right here. If you are interested in taking a look at other new customer offers out there, head to our Nabtrade Australia page.

4.5/5

IC Markets CFD Crypto

T&Cs apply, 18+

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IC Markets Highlights

• 1:5 leverage with crypto CFDs
• No commissions
• Great user interface

The next consideration in our IC Markets review would be the usability of both their site and the trading platform that is made available. The site has a sleek design and it is fairly easy to navigate throughout the page by using the dropdown menus. You can also browse through the most important sections using the four tabs at the top of the page. If you are using a mobile device, you might find it a little more difficult to navigate the site, depending on the size of your screen.

As for the trading platform, IC Markets Australia has an enormous amount of support. You will be able to use just about every MetaTrader version within their service, alongside cTrader. There are also a number of tools that are readily available to analyse your trades and provide you with an insight into potential market performance. IC Markets has certainly gone the extra mile to make their service easy to use.

4.5/5

IC Markets CFD Crypto

T&Cs apply, 18+

-

IC Markets Highlights

• 1:5 leverage with crypto CFDs
• No commissions
• Great user interface

Every online trading service would be incomplete without a range of account options to offer to interested customers. In order to simplify the entire process, IC Markets Australia has decided to only include two account types within their service, a standard account and a raw spread account. Once you have shared your details in the signup section, you will be able to choose your trading platform; MetaTrader 4, cTrader or MetaTrader 5. You will also have to select which account type you are planning on using.

Standard account

With the standard account, you will be eligible to take advantage of industry-leading trade execution speeds while only having to pay pips starting from 1. You will be able to take advantage of some trading strategies such as scalping and you will receive access to the various analysis tools that IC Markets has made available.

Raw account

The raw account offers you spreads from 0.0 pips and includes the fast order execution with the standard account.  You will also be able to make use of 1:500 leverage if you have a verified Raw account. The difference between the two accounts is that Raw Spread includes a $3.5 commission per lot per side. If you are interested in another broker’s account options, head to our Commsec review.

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Fees

While you are searching through the various broker offers out there, one of the most important considerations you will need to make is what fees you are willing to pay for the service. This will help you determine what type of account you should be looking to open and it will provide you with the necessary information to analyse your trades and budget accordingly. The spreads on forex markets vary depending on what account you have chosen, but for the standard account, it is usually 1 pip.

The fee structure at IC Markets varies considerably depending on what markets you are looking at investing in. Their trading pricing page details every possible fee that you will be eligible to pay, so be sure to check this before you complete your trades. As for general account fees, our IC Markets review found that there is no mention of an inactivity fee with IC Markets. We scoured through the terms and conditions but this may change over time. It is recommended that all readers take the terms and conditions into account before signing up with an online broker.

As we mentioned before, with IC Markets you will be able to make use of the MetaTrader 4 and 5 trading platforms. These platforms are used all over the world by millions of customers and the experience is one of the best available on the market. You will be able to complete your transactions with industry-leading speed and the software is very easy to use for just about anyone. If you haven’t used MetaTrader before, you will be able to find detailed information within the IC Markets Australia service to guide you to complete your trades.

There is also the option to use the cTrader platform which includes an algorithmic trading community. Both of these trading platforms are centred around the forex markets and cTrader perhaps has the edge in terms of software with its addition of trading algorithms. However, with more complicated software, you are bound to struggle a bit more to actually use the program. These are the options that IC Markets has made available to their customers and it will come down to personal preference when choosing between the two. Head to our CMC Markets review for a look at what other brokers are offering.

When it comes to making your payments to complete trades, you will be hoping for a service that charges minimal deposit fees and a range of methods to deposit. With the IC Markets review Australia, we found that their fees are in line with what is expected within the online trading industry. You won’t have to pay any additional funds to make use of the IC Markets service than you would with other brokers on the scene. The fees do tend to vary according to what markets you are investing in so this will have to be taken into account.

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In terms of payment methods, you will be able to fund your account with a variety of different services. The traditional credit and debit card options are available for both Visa and MasterCard. PayPal, Neteller and Neteller VIP are also included within their range of payment methods and each of them has their own accepted currencies. Besides these popular methods, you can also use Skrill, UnionPay, Wire Transfers, Bpay, FasaPay, Broker to Broker, POLI, Thai Internet Banking, Rapidpay, Klarna and Vietnamese Internet Banking. This is a tremendous amount of support for payment methods.

A broker’s service is only as good as the customer support that they put on offer. With most of your transactions being conducted online, you will need to have the surety of a reliable customer support team to be available. IC Markets has recognised this as a key point within their service and offers all customers and any interested customers, the option to contact their customer support team by making use of a number of toll-free telephone numbers, a live chat feature on the site and a number of email addresses to direct your queries.

Our experts found that the customer service team was incredibly helpful when it came to addressing the questions we had. The live chat is a very efficient method of communication and you should have any issues resolved fairly quickly with IC Markets. To see just how other broker’s customer support manages to compare, head to our Interactive Brokers review Australia.

A key consideration in our IC Markets rating is the regulation that they have to abide by and the deposit insurance that you are eligible to receive when transacting. IC Markets Australia offers their service with an Australian Financial Services License and this is perfect for all customers looking to trade from Australia.

When you fund your IC Markets account, your funds are held in a segregated client trust account at National Australia Bank and Westpac Banking Corporation. These banks are both AA rated and all of your payments are encrypted using Secure Socket Layer technology. Your data is also kept confidential with IC Markets and you can rest assured that your funds will be safe with the online broker.