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IG Markets Review
Based on June 2020 figures and on revenue (excluding Forex), IG Markets is the world’s premier CFD and spread betting broker. IG has operated out of the UK since its founding in 1974 and currently serves over 178,000 clients across the globe. It offers four trading platforms from which over 17,000 assets, across eleven categories are available for trade. This broker caters to retail traders, professional clients, and institutional firms. It also offers managed accounts. IG Markets, a component of the FTSE250 (which confirms its fiscal stability), is a signatory of the FX Global Code of Conduct and thus has established itself as a trustworthy brokerage. We were delighted to find during our IG Markets review that this respected broker is one of the only brokerages that can accept traders in the United States, and we were impressed to see that their offerings are highly competitive across the globe.
The UK Financial Conduct Authority (FCA) provides the regulatory framework for IG Markets LTD and IG Index. The Financial Services Compensation Scheme (FSCS) protects deposits up to a maximum of £85,000. As outlined in the Client Assets Sourcebook (CASS), client funds are fully segregated from corporate funds. IG Markets is fully compliant with its regulator and operates as a transparent, trustworthy brokerage.
IG Markets LTD is authorized and fully regulated by the FCA.
This broker derives the majority of its income from spreads and commissions on over 17,000 assets. The EUR/USD displays an average cost of 0.75 pips, pricing it in the middle of the market. Commissions for equity CFDs in the UK and the EU are 0.10% per side, with a £10/€10 minimum, while US charges are $0.02 per share but no less than $15. Trades settled over the phone bear a fee of at least £15/€25/$25.
Guaranteed stop premiums are charged an additional 0.30% fee for equity CFDs, and an additional 1.2 pips mark-up in the EUR/USD. While each asset comes packed with extra charges, to give credit where due, IG Markets is fully transparent about them. Overnight financing costs may be obtained directly from inside the trading platforms. Additional charges include a direct market access (DMA) fee for select assets, costs related to live price data feeds, ProRealTime Charts of £30 per month, an inactivity fee of £12 per month, a £50 account documentation fee (where applicable), and a 0.50% currency conversion fee.
IG Markets properly explains overnight swap charges with examples.
Guaranteed stop premiums carry comparatively excessive mark-ups.
Additional charges may apply, but this broker is transparent about all extra costs.
Per its website, IG Markets does not profit from client losses.
What Can I Trade
Asset selection at IG Markets is excellent, with over 17,000 assets across eleven categories. Pure Forex traders have access to over 80 currency pairs, and 27 commodities provide outstanding diversification opportunities. Eight cryptocurrency pairs and the Crypto 10 Index grant an entry-level introduction to this emerging sector. With over 12,000 equity CFDs and Index CFDs across 26 markets, traders have access to a wide range of trading opportunities. More markets like Bonds, Options, and ETFs complement the outstanding offerings.
The asset selection at IG Markets is outstanding.
Besides core markets, this broker offers a wide range of additional assets.
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Most traders will manage their portfolios from the CFD account type. UK-based clients have the option of a tax-free spread betting account. The minimum deposit for either account type is £250 or a currency equivalent. IG Markets additionally offers more traditional non-leveraged products like share dealing, IG Smart Portfolios, ISAs, and SIPPs. The availability of account types is dependent upon geographical location, and traders may request an upgrade to professional status. Leverage differs based on asset and account classification.
CFD accounts are the most widely utilized account type.
IG Markets also offers traditional products to its traders.
IG Markets focuses on its proprietary webtrader, which is also available as a mobile version. It is fully customizable, provides a very clean and informative deal ticket, and comes equipped with an extensive charting package. IG Live, this broker’s streaming market coverage, is available together with analytics, alerts, and signals. Over 86 million trades were executed in 2020 with an average speed of 0.014 seconds. ProRealTime fully integrates with the webtrader and enables professional traders to automate their trading strategies. It facilitates market analysis with over 100 indicators and presents additional custom indicators. IG Markets claims to be the only UK based broker to offer ProRealTime.
This broker also supports the retail favorite MT4 trading platform. It allows full automation of trading strategies, and IG Markets provides a range of add-ons which are generally required to unload the full functionality of this trading platform. Traders may take advantage of 18 unique indicators beside Autochartist. The L2 Dealer handles direct market access (DMA), but it may come at an additional cost for live price feeds. It features improved liquidity and pricing, professional order control, and enhanced trading technology. This broker has done an outstanding job of delivering three distinct trading portals.
The proprietary webtrader is where most traders will manage their portfolios.
The ProRealTime upgrade unlocks more advanced features.
An upgraded MT4 trading platform provides an excellent trading experience.
Traders may use the L2 Dealer for DMA trading.
Transforming the MT4 trading platform into a powerful trading platform is 18 add-ons that were developed by IG Markets. Without the add-ons, the MT4 would otherwise represent a sub-standard offering. Further supporting automated trading is the VPS service provided in partnership with Beeks. The monthly cost of £50 is excessive, however, placing it out of range for most retail traders. IG Markets does offer it at no charge if the trader’s account balance exceeds £5,000.
Adding more value to manual traders is Autochartist, which integrates with the MT4 trading platform. It is an automated chart recognition tool, scanning for trading opportunities, and sending alerts. It assists manual traders in the analytical process, providing them with a broader range of possibilities. IG Markets has gone above and beyond what most other brokers currently provide in order to ensure that its traders operate from a competitive trading environment.
APIs also support advanced trading solutions developed by institutional clients and FinTech companies to connect to IG Market. This broker heavily supports algorithmic trading across all platforms through various applications. Traders who prefer a more traditional approach can take advantage of IG Smart Portfolios, this broker’s managed portfolios.
Over 18 MT4 add-ons transform the trading platform from a sub-standard basic version to a powerful trading portal.
The VPS service provided in partnership with Beeks supports automated trading, but the £50 monthly fee is excessive.
Autochartist assists manual traders in their daily analytics.
IG Markets provides APIs to allow advanced third-party trading solutions to connect and operate in the IG infrastructure.
Algorithmic trading fulfills a critical role at IG Markets.
IG Smart Portfolios leads a range of traditional brokerage services provided.
Research and Education
One of the things that most impressed us during this IG Markets review is the company’s research and educational offerings. IG Markets provides research under its news and trade ideas section. Several articles are published during each trading day, covering relevant topics and offering trade ideas to manual traders. This broker also provides IG trading signals directly from inside the trading platforms, divided into technical and fundamental categories. Trading alerts may also be created and sent via e-mail, SMS, or push notification. Traders can also sign-up for specific subscriptions or download reports. While algorithmic trading and automated solutions are the preferred approaches, IG Markets renders an excellent service to manual traders.
News and trade ideas feature several daily articles relevant to the trading day.
IG trading signals are available directly inside the webtrader.
Trading alerts are distributed via e-mail, SMS, or push notification.
Traders may additionally sign-up for subscriptions or download special reports.
The IG Academy is the primary portal where this broker focuses on education. It features ten courses and live webinars of between 30 minutes and 60 minutes in length. The quality and attention to detail by IG Markets in its educational section is evident. Coverage of financial events and trading podcasts are equally available, giving new traders more working examples of how financial markets function. A multitude of articles discussing the most critical aspects of trading complements the IG Academy and its outstanding educational service, allowing new traders to enhance their knowledge base before managing their own portfolios in live markets.
New traders have access to a great approach to education at the IG Academy.
Podcasts further enhance the quality of auxiliary trading services provided.
Clients have access to customer support 24/5 and may either call directly, send an e-mail, or use the webform. An extensive FAQ section answers the most basic questions, while an online forum is equally available. IG Markets is a well-managed brokerage where customer support is unlikely to be required but is easily accessible if an unexpected situation arises.
Bonuses and Promotions
IG Markets does not provide bonuses or offer special promotions.
Opening an Account
An online application handles new account openings swiftly. New accounts require verification per regulatory requirements. A copy of the trader’s ID, together with a proof of residency document, will satisfy AML/KYC requirements. The online form needs only a few minutes to complete and represents the standard operating procedure.
Deposits and Withdrawals
Deposit and withdrawal options at IG Markets are limited to bank wires, credit/debit cards, and PayPal. The minimum deposit is £250 or a currency equivalent. While this broker does not levy charges for deposits and withdrawals, third-party fees are generally applicable. A limit of £20,000 every 24 hours is in place for card transactions. For security purposes, IG Markets may ask clients to verify their accounts and source of income. The name on the trading account must match that of the payment processor. This area, with only limited alternatives to funding, represents one of only a few weaknesses at IG Markets.
IC Markets Reviews and Ratings:
|Telephone||+61 (0)2 8014 4280|
|Account Base Currency||USD, AUD, EUR, GBP, CAD, JPY, NZD,CHF, SGD, HKD|
|Trading Platforms||Metatrader 4/5, cTrader, Webtrader, API Trading, MAM / PAMM|
|Markets||Forex, Index CFD Trading, Precious Metals, Energy, Bitcoin|
|Funding Options||Credit / Debit Card, PayPal, China Union Pay, Bank Transfer, Bpay, Skrill, Neteller, Qiwi, Fasapay, Webmoney, Fasapay, Broker to Broker|
Overview: Australia-based, ASIC-regulated IC Markets is one of the biggest forex brokers, and has a good reputation for efficient platforms and support system. They have offices in Sydney and offer a number of flexible choices for trading.
Accounts: Traders can sign up for standard accounts, True ECN accounts, cTrader ECN as well as Islamic swap-free accounts. All accounts are segregated with Australian banks. The IC Markets Multi Account Manager lets money managers and experienced traders enjoy reporting in the real time with fund allocation and performance monitoring through one user-friendly interface. You can trade over 90 currencies, metal and CFDs.
Minimum deposit: $200
Maximum leverage: 1:500
Features: IC Markets gives you a total of 10 platforms to trade on, including MetarTrader4, the new MetaTrader5, mobile platforms, cTrader and autotrade services like Myfxbook and ZuluTrade. These services let you copy trades in any system to your IC Markets MetaTrader 4 account, free of charge and with no need for downloads.
With the True ECN connectivity the brokers offer tight spreads, access to interbank liquidity and fast execution.
Education: News, market reviews, calendars and calculators, as well as video tutorials are available.
Deposits/Withdrawals: Deposits accepted in ten different currencies, through fourteen fund transfer and payment options. The withdrawal form is processed quickly and withdrawals are received anywhere between 1 and 5 working days.
Customer service: 24/7 via online chat or email.
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Trusted IC Markets Review 2020
Table of Contents
|(5 / 5)||ASIC||0.0 Pips||232+||200$|
Is IC Markets a serious Forex and CFD Broker or not? – With more than 7 years of experience in the financial markets, we tested the company for you with real money. Read our experiences and get a detailed overview of the conditions, advantages, and disadvantages for traders. Is it really wise to invest money with this broker? – Inform yourself now.
Official website of IC Markets
What is IC Markets? – The company presented
IC Markets is an Australian ECN broker which accepts international clients. The address of the broker is International Capital Markets Pty Ltd, Level 6 309 Kent Street, Sydney NSW, 2000 AUSTRALIA. Founded in 2007, the company has a proven track record so far. The secret of the broker is that it provides true ECN market access and has very favorable trading fees for the best technology in trading.
Safety is a top priority at IC Markets. Customer balances are managed separately from company funds at the Australian National Bank (NAB). In addition, the broker has the largest liquidity providers involved, which shows a high degree of seriousness. Therefore, there is a fast execution of orders and no requotes. High liquidity for traders is provided by IC Markets.
Facts about the company:
- Australien Forex ECN Broker founded in 2007
- Direct market access through large liquidity providers (Goldman Sachs, HSBC and more)
- One of the first real ECN brokers
- The best conditions and cheap trading fees
- Specialized for Forex Trading
- Fast order execution and no requotes
Is IC Markets regulated? – Regulation and safety for Traders
Regulation by an official authority is very important for online trading. A license gives the broker a trustworthy relationship with the customer. To obtain such a license, IC Markets must comply with certain rules and requirements. Violating these requirements would mean an immediate loss of the license. Therefore fraud on the customer can be excluded here.
IC Markets is regulated by the ASIC. It is an independent institution of the state government agency. Customer money transactions are conducted by National Australia Bank (NAB) and Westpac Banking Corporation (Westpac). These are both top international banks that have high liquidity. In addition, IC Markets uses external and independent auditors who control the broker.
The broker makes a very serious impression on us and we can assume that this is not a scam:
- Regulation by the ASIC
- Separate accounts at major banks
- The external auditor of the broker
IC Markets and the ESMA regulations
In 2020, the leverage on derivative financial products Forex and CFDs in Europe was extremely limited. European brokers can only offer a maximum leverage of 1:30 to customers. This is meant to protect private investors, but ultimately destroys various strategies and opportunities for traders. It is not possible to prevent traders from losing money on the stock market because you always take a risk. Even with small leverage, European traders will lose money.
IC Markets is located outside the European Economic Area and is not affected by this regulation. Traders continue to hold leverage of 1: 500 on this broker.
Big advantage: It is a real ECN Broker
IC Markets is actually one of the few True ECN brokers. The company also gives private traders access to institutional trading via ECN / STP access. IC Markets only earns money at the commission per order execution or spread (STP) and a conflict of interest is 100% excluded! The website also directly recognizes the broker’s liquidity providers. These include major international banks, which provide direct access to the interbank market.
A monthly volume report can also be viewed transparently on the homepage. More than $ 600 billion was transacted in 2020 in a single month.
Real ECN Broker IC Markets
The offer and conditions for traders
IC Markets offers to trade in forex (currencies), CFDs (bonds, indices, commodities, cryptocurrencies) and futures. There are more than 232 different assets available. The conditions are very good from my experience and test. In comparison, you can rarely find cheaper and safer brokers.
The spreads start at 0.0 pips and the commission is $ 3 per trade $ 100,000 in CTrader. In the Metatrader, the commission has been increased by 50 cents to $ 3.50. A change to this broker is worthwhile even because of the low fees for trading.
IC Markets sample spreads
The execution in the live account works in real-time. With the data center in New York and London (financial centers of the world), you get an unrivaled fast execution. If that’s not enough, you can hire a VPS server for even faster access.
Since IC Markets is a true ECN broker, price manipulation is excluded. In addition, there are no requotes and your position will always be executed at the next best price. There are no hidden fees for traders. The real “raw spreads” are offered. In addition, the broker is supplied by various liquidity providers. This means that there is always sufficient liquidity available (even for high trading volumes).
Conditions for traders:
- ECN spreads from 0.0 pips
- Leverage of up to 1: 500
- Over 232 assets for trading
- Trading already from 0.01 Microlot
In summary, trader terms are outstanding with this broker. If you are looking for a good forex provider, you should switch now. However, there are no shares in IC Markets to trade, which is why you have to make small cuts.
The Trading Plattform of IC Markets
IC Markets offers the well-known trading platform MetaTrader 4/5 and the cTrader. The MetaTrader is available for the computer, smartphone, and tablet. The software can also be started from the browser. The cTrader is available for the browser and mobile devices.
The trading platforms are evidence of high security and have been in use for many years. The MetaTrader is the world’s most popular trading platform for private traders. You can make any settings yourself and create your own strategies. The MetaTrader works flawlessly and gives you direct access to the markets.
Metatrader 5 is one of the best trading platforms
Charting and Analysis
The trading platform MetaTrader offers a huge range of analysis and charting material. Choose between different chart types and configure them as you want. Indicators and technical drawing tools are for free.
More than 50 different indicators are available on the platform. For advanced traders, there is the possibility to insert extern indicators which you can download on the internet. Each indicator is personal customizable. There are a lot of functions which we cannot mention here all. In addition, technical drawing tools are available for doing technical analysis.
Facts about the trading platform:
- Available for any device
- Free indicators
- Free technical tools
- Configure your own strategies
- Customizable and user-friendly
- Automatic trading and robots
The terms of IC Markets are also perfect for automated trading! The company itself states that more than 60% of the trades delivered each day are from automated systems. The data center is located in New York and with a VPS server you have the best access to the markets. This allows you to get the best prices in the market and open and close trades in less than a second.
Furthermore, the broker is characterized by low latency. The average execution speed is less than 40 milliseconds. From our experience, there is also virtually no slippage (even with positions with more than 10 lots).
Account types at IC Markets
We get a lot of requests because of the account types at IC Markets. Generally, there are 2 different accounts. The ECN and STP (Standard) account. There is only one difference in the billing of fees. With the ECN account you get the real spreads directly from the market, but pay about $ 3.5 commission per traded 1 lot. There is no commission for the STP (Standard) account, but there is an additional spread (from 1.0 pips).
In summary, you will pay less with the True ECN account. The difference is minimal, but you should not neglect it. Again, the preferences of a trader apply.
There are only 2 different account types:
- True ECN account with $ 3.5 commission and from 0.0 pip spread
- STP (Standard) account with 0 $ commission and from 1.0 pip spread
Open your free account:
Opening an account with IC Markets is very easy. Just fill out the form and start trading. First of all, you have to insert your real name and phone number. Then the broker will ask you for additional information about your identity. Through the regulation of the ASIC, the Forex Broker has to verify your identity and account before you can start trading real money. But from my experience, it is an easy process to verify the account. We recommend doing this as fast as possible to get access to all functions of the platform.
Very fast account opening
The free Demo Account of IC Markets
IC Markets offers an unlimited and free demo account for traders. In the personal area, you can open different demo accounts for your purpose. The demo account is an account with virtual money. It simulates the trading with real money 1:1 and we recommend to use it before you start with real money. In addition, the demo account is the best way to practice new strategies and markets.
First of all, you should try out the broker with the free demo account.
The withdrawal and deposit at IC Markets
The payout and deposit at IC Markets work smoothly. The broker offers a total of 15 methods to capitalize on the account. The broker is surprised that he even offers Bitcoin and PayPal as payment methods.
Deposits are well written in real time depending on the method. My payouts have always been confirmed and executed within 24 hours. Make sure your account is fully verified.
There are no fees or hidden costs. On deposits and withdrawals, the broker requires no fees. However, a bank transfer can be costly if your bank charges you for international transfers. The trading account is available in AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, and CHF.
- Credit Card (Master, VISA)
- E-Wallets (Skrill, Neteller and more)
- Bank Transfer
- Bitcoin Wallet
- No hidden fees
Our real withdrawal proof
We uploaded our IC Markets review video on youtube and we got different comments from people who say that IC Markets is a Scam Broker. Withdrawals would not happen or the broker is manipulating the spreads. Form my experience there is no scam or fraud on this broker.
Often beginners or traders without the experience of the markets make big losses and claim the broker for it. Personally, we never got a problem with IC Markets and the trading and withdrawal of profit. In the next picture, we will show you our payout of money:
Withdrawal proof of IC Markets
Is there a negative “Balance Protection”?
At IC Markets, there is no negative balance protection from my experience. This only shows that it is a real ECN broker. Similar to futures trading, the account can end up in very extreme situations in a negative state.
Usually, this does not happen if you use a balanced risk management and do not burden your account with oversized positions. IC Markets automatically stops all positions with 50% margin overstepping. A higher value is also adjustable. So you should be protected under normal circumstances.
For IC Markets it is also not possible to get negative balance protection for its customer as it is trading on real market conditions. If there is no counterparty in the market, you can close the position later. However, this is rarely the case as the markets are very liquid.
Customer support and service at IC Markets
The language of the support is English. The website is translated into different languages. More than 10 languages are available. The support works 24 hours a day from Monday to Friday and is available via chat, telephone or email.
The speed of support is outstanding. For example, you get a direct answer via chat support. The employees work quickly and can help you with your problems.
For beginners, there are analyzes and video tutorials for the platform. Sometimes well-known guests are invited for webinars. You will then receive a notification via email. Taken together, the support is pretty good because you always get professional help directly. However, you have to make a small smear, because of there no support in every language.
- Support 24 hours per week (working days)
- Phone, Email, and Chat-Support
More and more people want direct access to the ECN Forex market. IC Markets accept traders from around the globe. There are some exceptions: The broker does not accept traders from the U.S, Canada, Israel, Iran.
The fast-growing area of the world is the Asian and Africa markets. They accept traders from China, India, Philippines, Indonesia, South Africa, Ghana and more.
Our conclusion: IC Markets one of the best ECN Forex Brokers
IC Markets is my personally favored Forex Broker because here you are without conflicts of interest to very small fees. Unlike most providers, this broker has real ECN access. Thus unlimited profits can be made and the broker earns only at the commission its money.
The cost is reduced to the lowest and in this area, you can not find a cheaper provider. The designs and the service are sensational. We can recommend this broker to any trader who wants to trade with large or small capital.
In conclusion, IC Markets is one of the few top brokers worldwide that can be recommended with a clear conscience. Start now with the free demo account and test the provider yourself.
The advantages of IC Markets:
- Regulated and safe Forex Broker
- Real ECN Trading
- The best conditions for traders (0.0 pips spread + commission)
- Metatrader 4 and 5
- Very fast support
- No hidden fees
- The best broker for high volume trading through big liquidity providers
- Free demo account
- Minimum deposit 200$
If you search for a reliable Forex Broker without conflict of interest and good conditions, you should choose IC Markets. (5 / 5)
Perfect Choice For Beginners!
Free Demo Account!
Free Trading Education!
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Only For Experienced Traders!