IC Markets Broker Review
Posted On 08 Sep 2013
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Over my 8+ years of trading I have used many Forex brokers, I’ve seen and experienced:
- The tricks brokers use to manipulate the odds in their favour (edging, slippage, price spikes, re-quotes)
- Various trading platforms and their limitations (functionality)
- A wide variety of trading spreads in real time and what is possible
- Market depth of different brokers and how this affects spreads
- I have experienced the best and worst of broker customer service
- Brokers deposit, withdrawal and back office processes
- Regulated vs non-regulated brokers
- Transparency of brokers offering are they market makers, true ECN, fake ECN…
The main thing that I was missing from all the other brokers I used was consistently low spreads, direct access to the market (true ECN), and with a reasonable deposit amount. There always seem to be a huge gap between the retail brokers and the institutional brokers. Most retail brokers were (and still are) offering 1.5-3 pip spreads. Institutional brokers were offering low spreads but required $25,000 to $50,000 just to get started.
I was surprised when I realised what IC Markets was offering:
- True ECN Pricing – The tightest spreads I have seen, starting from 0.0 pips with an average EUR/USD spread of only 0.1 pips.
- $200 Starting Deposit – Their MetaTrader 4 True ECN account requires only $200 deposit
- 500:1 Leverage
- Micro Lot Sizing – Lot sizes as small as $1000
- 77 Currencies, Metals & CFDs – A wide range of currency pairs and CFDs from one account.
- Ultra Fast Execution Speeds – They have high speed servers in the Equinix NY4 and LD5 data centres (apparently the best locations for speed).
- Deep Institutional liquidity – Liquidity from 50 different banks and always lots of volume available at tight spreads.
- Regulated by ASIC – I’m a big fan of having my funds with a regulated broker that needs to meet strict criteria by law.
IC Markets offers all traders a level playing field. They make the benefits of institutional pricing accessible to all traders.
Click Here to Open a Demo
I started trading with IC Markets and have never looked back. I was so passionate about the way they were changing the retail broker space that I recommended them to everyone, and eventually ended up becoming an introducing broker for IC Markets. I have complete trust in them and the trading conditions that they provide.
I recommend IC Markets to traders of any trading ability, strategy, or capital level. But most importantly I recommend any trader that is paying more than 1.0 pip cost to execute a trade to stop trading with that broker and try IC Markets.
Your broker is your partner in your trading business and trading costs make a big difference over time. Trading is a business and we should always be looking to maximise profit and minimise costs. I cut my costs in half when I started trading with IC Markets.
Visit IC Markets Website
True ECN Connectivity
IC Markets offers market leading pricing and trading conditions through the MT4 platform by providing clients with True ECN Connectivity.
True ECN Connectivity allows you to trade on institutional grade liquidity from the world’s leading investment banks, hedge funds and dark pool liquidity execution venues. Executable Streaming Prices (ESP) are sent from IC Markets liquidity providers to their ECN environment where clients can trade with no dealing desk, price manipulation or re-quotes. Due to the diverse liquidity mix comprising of up to 50 different liquidity providers at any one time, IC Markets is the forex broker of choice for high volume traders, scalpers and robots who demand the tightest spreads and best execution.
Spreads from 0.0 Pips
IC Markets boasts some of the tightest spreads of all forex brokers globally. Spreads start at 0.0 pips on the MetaTrader 4 platform with the average on EURUSD being 0.1 pips.
Level II Pricing – Market Depth
Depth of market shows the full range of executable prices coming directly from liquidity providers. Depth of market offers complete transparency of the liquidity of each currency pair by showing the available volumes for each price level at any given time.
One Click Trading
IC Market’s One Click Trade Manager Software considerably enhances MetaTrader 4. Traders can buy or sell with a single click, execute complex pre-defined order templates with two clicks and manage trades in ways not previously possible on MetaTrader 4. The software offers fast and worry-free trade execution and management.
Ultra Fast Order Execution
The IC Markets MetaTrader 4 server is located in the Equinix NY4 data centre in New York. The NY4 data centre referred to as a financial ecosystem is home to over 600 buy and sell side firms, exchanges, trading venues, market data and service providers. They MetaTrader 4 server is cross connected to their ECN to ensure ultra low latency and the fast execution of trades.
No Restrictions on Trading – Scalping Allowed
IC Markets MetaTrader 4 platform has no restrictions on trading. They have some of the best trading conditions for scalping and high frequency trading globally, allowing traders to place orders between the spread as there is no minimum order distance and a freeze level of 0. This means orders including stop loss orders can be placed as close to the market price as you like.
Traders can also hedge positions as there is no first in first out (FIFO) rule with IC Markets. Traders do not pay margin on hedged trades and enjoy the benefits of margin netting.
Flexible Lot Sizing
There are no limits or restrictions on trade sizes, you can place trades as small as one micro lot (0.01) with no maximum limit. This flexible lot sizing allows you trail the platform with minimal risk and manages your trades sizes in accordance with your account balance.
60 Currencies & Metals + 17 CFDs
Trade 60 currency pairs plus 17 major equity indices and futures contracts including the FTSE 100 and Dow Jones Index 24 hours a day with a spread of 1 point. With S&P/ASX 200 spreads from 1 point.
Leverage up to 1:500
Accounts go up to 1:500 leverage on the IC Markets MetaTrader 4 platform. Traders can use higher leverage to suit their trading style and get the best out of their manual and automated trading strategies.
All Major Account Currencies Supported
Open an account in one of 8 supported base currencies including: USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF.
Flexible Funding and Withdrawal Options
Once you’ve opened a IC Markets MT4 account you can fund using one of 8 funding options including: Credit/Debit card, Moneybookers, local bank transfer (transferring to a bank in your country), wire transfer, Webmoney, Bpay, broker to broker transfer and branch deposits.
Click Here to Visit IC Markets Website
