– ECN/STP broker from Australia specialized in Forex and CFD
-Regulated by organizations such as ASIC
-Tight spreads and low commissions
ICMarkets – Broker Review
ICMarkets is a regulated Forex broker from Australia which was founded in 2012. It is an ECN broker specialized in Forex and CFD trading which offers more than 50 currency pairs and excellent trading conditions including very low and variable spreads and fast executions. ICMarkets offers direct market access (to the main liquidity providers, including major banks) which in turn provides its clients with access to market depth with Level II Quotes. In other words, it is a true ECN Forex broker.
Also, this company offers the advantage of being regulated by ASIC.
Content of the Review
Type of broker
ICMarkets is an ECN/STP Forex broker.
This broker is regulated by ASIC (Australian Securities and Investments Commission) the financial services regulation agency of Australia.
The headquarters of the company are located in Sydney, Australia.
- Forex Market: 56 different currency pairs in the spot Forex market, including the most important as the EUR/USD, USD/JPY, GBP/USD, and USD/CHF, and other more exotic ones like the USD/TRY and USD/RUB among others.
- Precious metals: Gold and silver in the spot market (quoted against the USD and EUR), two of the most important and traded commodities in the market.
Contracts For Difference*: CFD based on the following financial instruments:
- Commodities such as precious metals and energy commodities.
- Stock market indices like the S&P 500, NASDAQ, CAC 40, FTSE 100, and Nikkei 225 among others.
- Cryptocurrencies like Bitcoin (against the USD)
* Trading conditions for Contracts For Difference depend on the underlying financial asset which is based on the CFD and market conditions.
- Standard Account: It is the regular trading account of the broker ICMarkets. This account offers classic trading conditions with fixed spreads from 1.0 pips forward for major currency pairs with a leverage of 1:500 and a minimum transaction size of 0.01 lots. The Standard account accepts all styles of trading and is designed for discretionary traders. The minimum deposit is $200 and uses the Metatrader 4 trading platform.
- True ECN Account: This is a trading account based on the Metatrader 4 platform, which offers ECN trading conditions, including variables and extremely low spreads (from 0 pips forward for major currency pairs), ECN connectivity with major ICMarkets liquidity providers (including big banks, hedge funds and other), fast and efficient execution of transactions and direct access to market depth (Level II prices). The market depth has the advantage of showing a wide range of executables prices that come directly from liquidity providers. This account is ideal for scalpers and traders operating in the market with large volumes. It requires a minimum deposit of $200.
- cTrader ECN Account: This is a pure ECN account type that is based on the cTrader platform, an application specialized in transactions in real ECN environments. In this case, the trader has the best trading conditions, including variables and very low spreads (no minimum spread in the cTrader platform with an average of 0.1 pips for EUR/USD), access to more than 50 liquidity providers (including large banks), an ultra-fast trade execution, market depth access to Level II quotes (orders are completed based on the orders book using a Weighted Average Quotation) and more. As a true ECN account, it allows the use of all types of trading strategies, including scalping. It requires a minimum deposit of $200.
ICMarkets offers a demo account with no limit of time.
- Metatrader 4: It is a downloadable trading platform that is among the most used and modern in the Forex industry thanks to its many functions. It has a variety of trading tools, including current market prices, advanced price charts with multiple time frames (from 1 minute to 1 month), dozens of built-in technical indicators and functions for the creation, evaluation, and implementation of automated trading systems (Expert Advisors) based on the MQL4 language. It also offers the ability to copy automatically the trades performed by other traders that use this platform. The version developed by ICMarkets has true ECN connectivity allowing the trader to operate based on the best market conditions as it offers access to the liquidity providers of this broker and market depth (Level II).
- Metatrader 5: It is the new version of the Metatrader platform and has the same tools and advantages as the current version along with other extras that increase its functionality. At the moment it is not available for live accounts. This platform allows trading with Forex, stocks, options, and futures. It offers direct access to market depth (Level II), additional timeframes and built-in indicators, new types of orders, and a new and improved programming language (MQL5).
- cTrader: An innovative ECN trading platform (it operates directly through an ECN network) designed to trade in the Forex market, which offers direct market access (DMA), extremely fast execution, and an advanced graphics package. This application provides a depth market with transparent pricing through a Level II system which is connected to a network of liquidity providers that includes large banks. This allows the trader to obtain the best prices with the lowest and tight spreads possible without requotes. In addition, cTrader includes one-click trading, the possibility of trading from charts, automated trading through the application cAlgo, an intuitive and friendly user interface, advanced price graphics, and multiple technical indicators incorporated.
- cTrader Web: It is a trading platform based on cTrader which requires no download or installation and can be accessed from anywhere with Internet connection access through the website of ICMarkets. This application has the most important functions of cTrader including an ECN trading execution as it is directly connected to a network of liquidity providers (ECN network).
- MAM/PAMM Metatrader 4: It is a platform based on Metatrader 4 and was designed to manage multiple accounts of Metatrader from a single and easy-to-use interface. For this reason, this application is ideal for traders and money managers who use Expert Advisors (EA) or handle a large number of trading accounts, either their own or from other investors (PAMM accounts). It has a variety of funds distribution and allocation methods including percentage allocation, allocation by lots, proportional allocation by balance, and others. In addition, it provides the tools and normal functions of Metatrader.
- ICMarkets Myfxbook Autotrade: This is an automated trading platform based on the concept of social trading and mirror trading, which was designed by the company Myfxbook. This application allows to follow and copy all transactions of any trading system selected by the client of ICMarkets, which are copied directly into the ICMarkets Metatrader 4 account. Is an online platform (no download required) and has the great advantage that the selection process conducted by Myfxbook of traders and trading systems offered is very rigorous so that we can have access to the most successful and profitable strategies.
Platforms for mobile devices: ICMarkets offers various applications based on the Metatrader 4 and cTrader platforms which are designed to enter the trading account and trade in the market from different mobile devices such as smartphones, tablets, and the like.
- Metatrader 4 iPhone.
- Metatrader 4 Android.
- cTrader Web.
The clients of ICMarkets can deposit and withdraw funds through the following payment methods: bank wire transfer, the main credit cards (such as VISA and Mastercard), Skrill, Paypal, Western Union, and cryptocurrencies like Bitcoin.
- It is a Forex&CFD broker properly regulated by ASIC of Australia, which provides a higher level of security for the customers.
- ICMarkets offers several trading platforms, including Metatrader 4 and cTrader (an application specialized in ECN trading in the Forex market).
- It is an ECN / STP broker that offers direct market access (to the main liquidity providers, including major banks) which in turn provides its clients with access to market depth with Level II quotes.
- This broker provides real ECN trading conditions, designed for professional traders who are interested in a fast and efficient trading execution and variables and very low spreads (from 0 pips for major currency pairs).
- An ultrafast execution through its servers and data centers in New York and London.
- ICMarkets offers several options of automated trading for its clients, including a social auto trading platform that allows to follow and copy the trades of other traders and the use of automated trading systems (Expert Advisors) through the Metatrader4 platform.
- Access to an online trading platform (no download or installation required).
- Various trading tools for the clients, such as updated market news, market reports, daily and weekly market analysis, and an economic calendar with events that can have a significant impact on the market.
- A virtual private server (VPS ) for $ 30/month, which can be used for the implementation of EA.
ICMarkets has several educational resources on the markets and trading in general, such as:
- Video tutorials.
- A comprehensive glossary of financial markets.
- Various applications are designed to access the account and trade in the market from mobile devices such as smartphones or tablets.
Main Offers of ICMarkets
- For the moment this broker is not offering any special promotion.
Other Categories of this broker
- ECN broker.
- Gold broker.
- Silver broker.
- Metatrader broker.
|Company||ICMarkets is property of International Capital Markets Pty Ltd|
|Minimum account size||$200.|
|Minimum lot size||0.01 lot.|
|Spreads||Variable and low spreads from 0.1 pips for EUR/USD.|
|Visit Broker Website||
1 thought on “ICMarkets ECN Forex Broker – Complete Review”
For the moment ICMarkets has been a good broker. Low spreads, good execution, deposits and withdrawals of funds without any problem. I recommend this company