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IC Markets Global is a respected and well-regulated broker, providing a wide range of trading instruments, including over 2250 options, with competitive spreads starting at 0.0 pips. You can start with a demo account to gain experience, and opening a live account only requires a $200 deposit. They offer advanced trading platforms like MT4, MT5, and cTrader. Let's now delve into this IC Markets review.

What is IC Markets？

IC Markets Global is an Australian online forex and CFD broker that provides traders access to the global financial markets. The company was founded in 2007 and is regulated by the Australian Securities and Investments Commission (ASIC). IC Markets offers a range of trading instruments, including forex, indices, commodities, and cryptocurrencies, and provides traders with advanced trading platforms such as MetaTrader 4, MetaTrader 5, and cTrader. The company also offers 24/7 customer support and a variety of educational resources for traders of all levels.

In the IC Markets Global review, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.

What Type of Broker is IC Markets？

IC Markets Global is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, IC Markets Global acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that IC Markets has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients.

Is IC Market Legit？

IC Markets Global maintains regulatory compliance in both Australia and Cyprus, adhering to the respective financial regulatory standards in these jurisdictions. Regulatory oversight by ASIC and CYSEC contributes a safer trading environment for clients.

Regulated Country	Regulated Authority	Regulated Entity	License Type	License Number
	ASIC	INTERNATIONAL CAPITAL MARKETS PTY. LTD.	Market Making(MM)	335692
	CYSEC	IC Markets (EU) Ltd	Market Making(MM)	362/18

IC Markets' Australian entity, INTERNATIONAL CAPITAL MARKETS PTY. LTD., regulated by ASIC under license number 335692, holding a license for Market Making (MM).

IC Markets' enropean entity, IC Markets (EU) Ltd, regulated by CYSEC under regulatory number 362/18, holding a license for Maket Making ( MM) as well.

WikiFX's investigation team personally visited the registered address located at Omonoias, 141, The Maritime Centre, Block B, 1st floor, 3045, Limassol, Cyprus. Notably, the IC Markets Global logo was prominently displayed on billboards in the vicinity of the building. Hence, their visit to the location confirmed that IC Markets was indeed operating from the officially designated regulatory address.

Market Instruments

IC Markets Global offers a wide range of over 2250 tradable instruments to trade, including forex pairs, commodities, stocks, cryptocurrencies, indices, bonds, and futures. This provides traders with the opportunity to diversify their investment portfolio and access multiple markets and assets. The company offers competitive spreads and low commissions on all instruments, making it a popular choice among traders.

Minimum Deposit

IC Markets Global requires a minimum deposit of $200 for traders to open an account. In the industry, many established brokers frequently impose minimum deposit requirements that surpass $500 or even reach $1,000. In contrast, certain major players such as Avatrade and Aixtrader only mandate minimum deposits of $100 and $0, respectively. So, IC Markets's minimum deposit requirement seems to be in the “middle”.

Here is the comparison of IC Markets Global minimum deposit with Avatrade, Exness, and Axitrader:

Broker	Minimum Deposit
	$200
	$100
	$1 USD
	$100

Account Type

C Markets offers traders a range of account types with different trading platforms, commissions, and spreads. The CTrader and Raw spread accounts charge a commission of $3 and $3.5 respectively but offer spreads from 0.0 pips, while the Standard account has no commission but wider spreads from 0.6 pips.

A demo account and Islamic account are also available. Although the minimum deposit of $200 may be high for some traders, the variety of account types and competitive spreads on some accounts may make up for it. However, traders should note that commissions are charged on all other accounts apart from the Standard account, and there is limited information on account features.

Demo Account

IC Markets Global offers a free advanced demo account for beginner traders to practice on, which lasts for 30 days.

Users who open a demo account can enjoy the following features:

• Access to Raw Pricing
• Spreads Starting at 0.0 Pips
• Fast Order Execution
• Available on MT4, MT5 and cTrader platforms

However, demo accounts aim to mimic real markets but function in a simulated environment. This means there are significant differences compared to real accounts, including not relying on real-time market liquidity, encountering price delays, and having access to certain products that may not be tradable on live accounts.

Opening a demo account is simple:

Step 1: click the “Try a Free DEMO” button on the homepage of IC Markets.

Step 2: Fill in your personal info, including your country of residence, name, email, phone number to get a verification code.

Step 3: Choose to demo accounts on your preferrable trading platform, MT4, MT5, or cTrader. Then choose your account currency, virtual funds, starting from $200 to $5,000,000, your desired leverage level.

Step 4: Log into your demo account and start trading.

Leverage

IC Markets' maximum leverage offering of up to 1:500 can be beneficial for experienced traders who know how to manage their risks well. The high leverage can potentially magnify the profits of a successful trade, enabling traders to take advantage of larger positions in the market.

Spreads & Commissions

IC Markets Global is known for its tight spreads and low commissions, making it a popular choice among traders. The broker offers a variety of account types to choose from, including the Raw Spread account with spreads starting from 0.0 pips and a $3.5 commission per lot traded, and the Standard account with spreads starting from 0.6 pips and no commission. The cTrader account also offers low spreads starting from 0.0 pips, with a $3 commission per lot traded.

Trading Platforms

IC Markets Global offers its clients a variety of trading platforms, including the popular MetaTrader4 and MetaTrader5 platforms as well as the cTrader platform. Each platform offers unique advantages and disadvantages, and traders can choose the platform that best suits their needs.

The MetaTrader4 and MetaTrader5 platforms are similar and offer a range of trading tools and indicators, as well as the ability to use Expert Advisors (EAs) and automate trading strategies.

The cTrader platform, on the other hand, offers advanced charting capabilities and a variety of order types. However, it has a steeper learning curve and limited customization options compared to the MetaTrader4 and MetaTrader5 platforms.

Deposit & Withdrawal

IC Markets Global offers a variety of deposit and withdrawal options, including Neteller, Skrill, bank transfer, VISA, Mastercard, Paypal, credit/debit cards, Poli, wire transfer, rapidpay, and klarna. IC Markets Global does not charge any fees for deposits and withdrawals, however, additional fees may occur at some banking institutions.

Withdrawal requests have a cut off time at 12:00 AEST/AEDT, and take up to 10 business days to process depending on the bank. International bank wire transfers take up to 14 days and incur additional intermediary and/or beneficiary fees. Credit/debit card withdrawals are processed free of charge and take 3-5 business days to reach your credit card. Paypal/Neteller/Skrill withdrawals are processed instantly and free of charge, but must be made from the same account as the initial funds were sent from.

Educational Resources

IC Markets Global's resources include an economic calendar, market reports, video tutorials, a glossary, blogs, and calculators. The educational resources are updated regularly to ensure the information is relevant and up-to-date. The glossary is particularly useful for understanding forex terms and concepts, while the video tutorials cover a wide range of topics, from basic concepts to advanced strategies.

The blogs provide insights into the forex market, which can be useful for making informed trading decisions. The calculators are also helpful tools for calculating risk, margin, and position size. You can also watch videos on their official YouTube channel. For example, this is a video named 7 Common Mistakes New Traders Make, which would be useful for newbies.

Customer Service

IC Markets Global provides a strong customer care dimension with 24/7 availability for customer support. Clients can reach out to the support team via phone or email, and can expect prompt response times to email inquiries. However, there is no live chat option available for immediate assistance, and phone support may have international charges, which could be a disadvantage for some clients.

Conclusion

IC Markets Global is a regulated forex broker that offers traders a wide range of instruments, account types, and trading platforms to choose from. With low spreads, competitive commissions, and high leverage options of up to 1:500, traders can enjoy a flexible and customizable trading experience. The company's educational resources, including market reports, video tutorials, and a glossary, are extensive and informative, providing traders with valuable insights into the forex market. Additionally, IC Markets' customer support is available 24/7, ensuring that traders can always receive timely assistance. The company's variety of deposit and withdrawal methods also makes it easy for traders to manage their accounts efficiently. Overall, IC Markets is a reliable and trustworthy broker for both novice and experienced traders alike.

Frequently Asked Questions (FAQs)

What is the minimum deposit required to open an account with IC Markets？

$200.

What are the available deposit and withdrawal methods on IC Markets？

Neteller, Skrill, bank transfer, VISA, Mastercard, Paypal, credit/debit cards, Poli, wire transfer, rapidpay, and klarna.

What trading platforms are available on IC Markets？

MetaTrader4, MetaTrader5, and cTrader.

What is the maximum leverage offered by IC Markets？

1:500.

Does IC Markets Global charge any fees for deposits and withdrawals？

IC Markets does not charge any fees for deposits and withdrawals. However, additional fees may occur at some banking institutions.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

What is FXDD？

FXDD, a trading name of FXDD GLOBAL, is an online trading broker established in Malta in 2002. FXDD is regulated by the Malta Financial Services Authority (MSFA, suspicious clone) (License No. C48817). The broker provides access to various financial instruments, including currencies, commodities, metals, and indices, through multiple trading platforms.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Overall, while FXDD offers a range of benefits including a diverse range of trading instruments and various trading platforms, potential users should also consider the reported issues and fees before deciding if FXDD is the right fit for their needs.

FXDD Alternative Brokers

There are many alternative brokers to FXDD depending on the specific needs and preferences of the trader. Some popular options include:

• BDSwiss - a reliable and regulated broker with a user-friendly platform and a range of educational resources, but its fees and limited product offerings may not be suitable for all traders.

• Darwinex - a unique broker that offers a social trading platform and innovative investment opportunities, but its high minimum deposit and limited product range may not be ideal for all traders.

• Equiti - a well-regulated broker with a strong focus on transparency and client education, offering a variety of trading platforms and a wide range of instruments, but its fees may be higher than some competitors.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is FXDD Safe or Scam？

The presence of a suspicious clone Malta Financial Services Authority (MFSA) license raises concerns about the legitimacy and credibility of FXDD. It also has got many negative reviews from the clients complaining about the platform. It is important for potential clients to conduct their own due diligence and research, as well as consider factors such as regulatory compliance, customer reviews, and transparency before deciding whether to engage with the company.

Market Instruments

FXDD provides investors with access to popular tradable instruments in the financial markets across six asset classes, mainly Forex, Metals, Stocks, Energies, Indices, Stocks and Cryptocurrencies. Traders can access the forex market including majors, minors, and exotics. Metals such as Gold, Silver, and Platinum can be traded as well. Stocks of some of the world's leading companies are also available to trade with FXDD. Energies such as crude oil and natural gas, and Indices including S&P 500 and Nasdaq are also popular tradable instruments offered by FXDD. Lastly, FXDD also offers cryptocurrencies like Bitcoin, Ethereum, and Litecoin. With such a diverse range of instruments, FXDD provides traders with plenty of options to invest in the financial markets.

Accounts

FXDD offers two types of accounts for traders, namely Standard accounts and ECN accounts. The Standard account is suitable for beginners or those who want to trade in smaller amounts. On the other hand, the ECN account is designed for more experienced traders who want to benefit from tighter spreads and faster execution speeds, with the added benefit of no dealing desk intervention. Standard or ECN available on MetaTrader4/5, ECN only on WebTrader. Additionally, FXDD offers a demo account for traders to practice their strategies in a risk-free environment.

Leverage

Leverage depends on the instruments traded and is defined by the regulatory restrictions together with the traders level of proficiency. So the available leverage allows to trade with increased level-up to 1:30, yet the professional traders may be entitled to higher leverage of up to 1:100. However, it's important to remember that higher leverage also increases the potential risk, so traders should exercise caution and consider their risk tolerance before using high leverage ratios.

Spreads & Commissions

Spreads and commissions vary depending on the account type and trading instrument. Take EUR/USD pair as an example, the spread is floating around 1.8 pips on the Standard account, while floating around 0.3 pips on the ECN account. There is no commission on the Standard account, while ECN accounts do charge a commission. Specifically, $0.299 per 10,000 for EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, EUR/JPY and GBP/JPY; $0.400 per 10,000 for others.

Below is a comparison table about spreads and commissions charged by different brokers:

Note: Spreads can vary depending on market conditions and volatility.

Trading Platforms

FXDD Trading provides traders with access to the popular MetaTrader 4 and MetaTrader 5 trading platforms, which are known for their user-friendly interface and powerful analytical tools. In addition to these market-leading platforms, FXDD also offers its own fully-featured WebTrader platform, which is accessible from any browser without the need to download any software. For traders who prefer to trade on-the-go, FXDD Mobile is a mobile app that is available for both iOS and Android devices, and is specifically designed for advanced traders who require real-time access to their trading accounts.

Overall, FXDD's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

Deposits & Withdrawals

FXDD works with numerous means of deposit and withdrawal choices, consisting of Visa, UnionPay, Neteller, Skrill, Bank Wire and TMI Trust Company. Most deposits and withdrawals do not incur any fees, although TMI Trust Company may charge some unspecified deposit and withdrawal fees.

FXDD minimum deposit vs other brokers

Fees

It is common for brokers to charge an inactivity fee to cover the costs of maintaining an account that is not being used. FXDD also applies an inactivity administrative charge to accounts that are inactive for more than 90 days.

The amount of the fee depends on how long the account has been inactive, $40 for accounts inactive for less than 1year, $50 for accounts inactive for 1-2 years, $60 for accounts inactive for 2-3 years, and $70 for accounts inactive for over 3 years. Traders should keep this in mind when considering opening an account with FXDD and ensure that they maintain regular trading activity to avoid these fees.

See the fee comparison table below:

Trading Hours

FXDD follows standard trading hours typically Sunday 5 pm to Friday 5 pm (EST). Monthly trading hours may change by instrument and are posted on the latest news section of the brokers website.

Customer Service

FXDDs customer support can be reached 24/5 hours (Sunday 5PM to Friday 4:55PM EST) by live chat, telephone: +1 (212) 720-7200, email: support@fxddtrading.com or request a callback. You can also follow this broker on social networks such as Twitter, Facebook, and YouTube. Company address: FXDD Trading, Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda.

Overall, it appears that FXDD is committed to providing accessible and responsive customer support to its clients.

Note: These pros and cons are subjective and may vary depending on the individual's experience with FXDD's customer service.

Education

FXDD offers a range of educational resources to help traders improve their knowledge and skills. The broker provides daily market analysis and research reports, which can be accessed on their website. They also offer a variety of online tools such as trading calculator, trading guides and VPS. Traders can find a range of account forms, including account applications and funding forms, to make it easy to manage their accounts. Additionally, FXDD provides a comprehensive FAQ section and glossary of financial terms to help traders better understand the markets and trading concepts.

User Exposure on WikiFX

It is not uncommon for trading platforms to encounter technical issues or glitches from time to time, and FXDD is no exception. On our website, you can see that some users have reported many problems with their platform. While there have been some reports of users experiencing problems with the platform, it is difficult to determine the extent of these issues without further information or context. It is always recommended to thoroughly research and review a broker before deciding to invest with them.

You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Conclusion

Taking into account FXDD's trading conditions, customer support, and educational resources, it may be considered a potentially viable option for traders. However, the reports of a suspicious clone license and mixed reviews from clients raise some concerns that should be taken into consideration before making a decision. As with any financial service provider, it is important to do thorough research and due diligence before opening an account.

Frequently Asked Questions (FAQs)