One of the leading brokers in the world, IC Markets is popular among both professionals and beginner traders, and that’s not surprising: the broker is widely known for its favorable trading conditions, many available instruments, and great selection of educational materials. What’s especially important is that its commissions are considered pretty low compared to other brokers, but is that true? In this article, Traders Union experts are going to present you the results of their analysis performed by our experts.
About the broker
IC Markets provides financial services to millions of traders in about 200 countries all over the world. It is considered one of the best Forex brokers out there, and this reputation is well-earned. The broker is licensed by several financial authorities in different jurisdictions, and its operations are monitored by a couple of major regulators, including CySEC and ASIC. It’s known to have exceptional safety rules for storage of its clients’ funds, and every account is insured.
Trading conditions
We are not going to get into analyzing every little feature IC Markets has to offer — you can get more information in our review of the broker. However, it’s important to understand the basics before we get to commissions. IC Markets offers a wide variety of available trading instruments, including 60+ Forex pairs. You can employ many different strategies with this broker, and trading advisers are also allowed without any limitations. You can choose between MT4, MT5, and cTrader trading platforms. Of course, there’s an option to trade via your mobile device as well.
The broker has an extensive library of educational materials that cover basic aspects of trading: there are separate tutorials for Forex pairs and CFDs. There’s a demo account that’s very convenient for all novice traders: you can use it to learn how to trade and practice your skills without risking any money, and when you’re ready, you can easily switch to a real account. The broker has several account types with their own fee structures, so let’s take a look at them and the IC Markets commissions.
Commissions analyzed
Basically, there are two options here. Most traders start with a Standard account: it has no trading fee, but spreads start from 0.6 pips on these accounts. If you want tighter spreads, there are Raw Spread accounts with spreads starting from 0.0 pips and a commission of $6 or $7 per lot, but that’s relatively low, according to Traders Union analysis of the market.
