icmarkets.com Broker Review

Commissions & Fees

IC Markets offers low trading fees at all account levels, with different fee structures applied to different account types. The popular ECN cTrader account offers very tight spreads and a low commission fee on each trade. Traders generally find that this works out as highly competitive when trading Forex, compared with other similar brokers. When trading stock CFDs, IC Markets applies volume-based pricing at $0.02 per share, which is also low compared to other brokers. The broker also seems to avoid extra ‘hidden’ fees. There is no inactivity fee, for example, and no deposit or withdrawal fees.

Platforms & Tools

Clients can choose from high-quality, intuitive trading platforms for desktop and mobile, and also a web-based platform. The cTrader web trading platform is aimed at an international market and is available in over 20 languages. Many traders, however, will choose to use the ever-popular MetaTrader software, which is available at IC Markets, in both the MT4 and MT5 versions. The platforms are intuitive, and easy to navigate, offering different order types, including stop loss and trailing stop loss orders, along with handy price alerts and other notifications.

Customer Service

Customer support is available by email, telephone and live chat, 24 hours a day, 7 days a week. Email support is fast, responsive and very helpful. Phone support also works well. Support staff are generally well-trained, knowledgeable, and polite. Live chat tends to run slow at busy times, as you might expect. There is significant support for customers on the site with a strong education section, easy to follow tutorial videos to help you find your way around the trading platforms. Additionally, there is lots of easy to find and useful information linked from the header and footer of each web page.

 IC Markets is a reputable broker with low fees, reasonable leverage, and a range of tradable instruments. Account opening is easy and quick, and we like the fact that there are no hidden fees and extras. IC Markets is an international broker but is not available in every country. Notably, it does not currently cater to clients in the US. There are a few different account types to choose from, to suit your investing needs, and all new clients are offered a demo account. This, along with an extensive education system, makes it very easy for new clients to find their way around the platform quickly.