- Excellent Execution Pace
- Types of Spreads
- Bonuses and Promotions
- Forex Platforms Compatible With IC Markets
- An ECN Broker In The Real Sense of the Word
- Easy access to Capital Markets
- Regulated by the Australian Government
- Types of Accounts Offered
- What is the most popular feature of International Capital Markets?
- IC Markets Customer Service
- Final Verdict
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International Capital Markets or IC Markets as it is called happens to be one of the fastest growing brokers in Australia. IC Markets is, in fact, an ECN Forex Broker headquartered in Sydney. Though the company has offices across the world even in places like China and Vietnam.
Plus, the company is regulated by the Australian Financial Service and bears the license number 335692. As of late, the company was listed as being amongst the top 10 forex brokers across the world. Native to Sydney International Capital Markets is perhaps one of the oldest Australian Forex brokers.
Excellent Execution Pace
One of the most interesting aspects of using International Capital Markets is the fact that its servers are placed inside the Equinix NY4 data center located in New York City. Being so close to all the action means that execution speeds are blindingly fast.
Since all the trading and foreign currency data originates from this place the company can almost guarantee that traders experience very low latency, i.e., around one millisecond. So, you benefit from near immediate trading.
Types of Spreads
The AUD/USD benefits from just a 0.4 pip spread and they charge no commission making them the most cost-effective option for traders. Not to mention the fact that they are the only Forex trading solution around with which traders can save money.
When comparing IC Markets with other competing forex brokers like Pepperstone it was evident despite the latter offering lower spreads at 0.1 pips; IC Markets was still cheaper than its competitor Go Markets at 1.5 pips. GMC Markets has a 0.7 pips spread, and ThinkForex charges 0.8 pips.
IC Markets provides a high 500:1 leverage which is just as high as that offered by competitors like ThinkForex, CMC Markets, and Pepperstone. The leverage his higher than that offered by Go Markets at 300:1, and the 50:1 provided by OANDA. A high leverage (500:1) means that traders can trade up to 500 times the amount deposited.
So, for instance, if you make a $200 deposit and the required leverage is 500:1, this means that you have control over $100,000 worth of money in the market. If anything it enhances your chances of making more trades while on the other hand, it opens you up to significant inherent risk. The simple rule of thumb with forex trading is that you shouldn’t bite off more than you can handle.
Knowing your limits is key prior to trading in the currency market.
Bonuses and Promotions
During the time we were reviewing International Capital Markets the company was not offering any bonuses. Generally signup bonuses are for a short time only and are reintroduced when the broker thinks things are slowing down or to encourage new signups.
That said a lack of bonuses shouldn’t take away the many good things that the broker has to offer traders. If International Capital Markets decides to provide a signup bonus in the near future we will certainly update this review with the information.
Forex Platforms Compatible With IC Markets
International Capital Markets offers traders the choice of three different platforms namely MT4 and 5 for live trading. Then there is cTrader which is also a live trading platform. All three platforms are True ECN regardless of if you use cTrader ECN Account or MetaTrader. So, traders have the perfect combo required for automated trading as well as using scalping.
International Capital Markets’ perhaps benefit from their high-speed connectivity. Plus the platform can be easily downloaded. The company also offers mobile trading across all major devices like iPhones and Android phones/tablets. Additionally, traders can also use the web-based platform via a web browser.
In our experience and even in the experience of many traders the platform is easy to use. Its meant for traders of all experience levels. All that’s needed to start trading is a good internet connection a laptop or just a smartphone.
The company offers a somewhat uniquely styled identification method, and report management system which allows traders to choose between three various allocation methods which are proportional to the percentage and lot size.
An ECN Broker In The Real Sense of the Word
While many claim to be ECN brokers, IC Markets is one, in the true sense of the word. This means that they provide traders with accurate pricing and quick trade execution speeds. The speed and accuracy are made possible owing to their direct connection with the interbank rates from over fifty international banks and institutions.
All of their systems are designed to reduce if not eliminate lag completely. So, traders can execute trades without having to worry about slippage.
Easy access to Capital Markets
Perhaps one of the biggest benefits of using IC Markets’ platforms is that they provide traders with direct access to capital markets which are located in major capital centers internationally.
Despite many financial hubs being located thousands of miles away from each other, IC Markets still provides traders with easy access to them. Also because they are true ECN brokers the distance between markets and time zones has little or no impact on their connection and execution speeds.
Regulated by the Australian Government
International Capital Markets regulated in Australia and bears the license number 335692. So, there is no question about if the company is a scam or if they are running a fraud like a couple of others.
Then there is the fact that the company boasts of a large client base which includes both institutions and retail traders. Additionally, IC Markets has a strong financial base which is committed to protecting traders, creditors, investors and consumers alike.
One of the reasons why we prefer companies regulated in Australia is because they have some of the toughest regulations in the world. The laws governing the financial industry dictate the conduct and flexibility of companies providing financial services to consumers.
The regulation is meant to encourage business, ensure integrity and make sure that the market continues to tick in the right direction. So, Forex, CFDs and stock selling brokers are all heavily regulated.
Being regulated in Australia means that regardless of where you are based the money deposited is 100% safe and are stored in segregated bank accounts. Companies or brokers are unable to touch that money for other investments or to cover their losses. All of this means that it pays to be able to trade with an Australian broker.
Types of Accounts Offered
The broker offers three types of accounts which are suited to the trading style of different traders. The website provides interactive charts which identify each type of account and its inherent benefits to traders.
Traders can choose the True ECN or the Standard account or even the cTrader account. Though the most popular account is their True ECN, the advantages of which we’ve mentioned above.
What is the most popular feature of International Capital Markets?
To start with they offer very low spreads averaging at 0.4 pips. Then they don’t charge traders a commission on withdrawing money. Traders also benefit from the highest leverage and no restrictions on trading which happens to be the most popular feature. Not to mention the fact that the company was ranked amongst the top 10 forex brokers in the world.
IC Markets Customer Service
Because IC Markets is one of the biggest brokerages in the world so it’s probably fair to assume that their customer service would not be personal and somewhat slow. At best you can expect it to be satisfactory.
However, that’s not the case. The broker’s customer service team can be reached via phone, Skype or email. Plus, their response time is a maximum 15 minutes on average with problems solved within 24 hours. Then their education center offers articles and videos both of which are helpful to those who have no prior knowledge of online trading.
Despite the size and reach of IC Markets Australia traders can expect to receive the best possible service regardless of their bankroll or trading lot sizes. The broker has earned a spot in the top 10 forex brokers list owing to their ability to offer traders quick liquidity, tight spreads, and great customer service.
Traders who are looking for the best Australian based broker will probably not be disappointed with the length and variety of provided by IC Markets. Then there is also the fact that many will and continue to choose the broker over others owing to their low spreads and the benefits of a true ECN account.
- They don’t charge a commission on withdrawals
- Regulated nationally
- Great customer service
- Highest leverage compared to other firms
- Offers traders the choice of using multiple trading platforms
- Very low spreads set at around 0.4 pips
- No Bonuses