IC Markets Review Disclaimer: My opinions in this unbiased review are based on my independent analysis and research into this trading platform. Though I strive to offer accurate insights, I cannot guarantee the reliability of this information. I just want to share my own personal views about IC Markets(icmarkets.com.au). Be sure to do your research before making an investment decision.
IC Markets, which operates under several domains, including icmarkets.com, icmarkets.com.au, and icmarkets.eu is a legitimate global trading platform. It operates in various countries under different brands that manage these domains.
| Registered Brand Name | International Capital Markets Pty Ltd |
| Domain | icmarkets.com.au |
| Telephone Number | +61 02 8014 4280. |
| Offerings | CFDs in forex, cryptocurrencies, indices, shares, bonds, commodities, and precious metals. |
| Leverage Ratios | 1:1—1:30 |
| Physical Address | Suite 2, Level 6, 50 Carrington Street, Sydney NSW 2000, Australia. |
| Account Type | Demo accounts and Live accounts, including Islamic accounts. |
| Regulatory Compliance | Licensed and regulated by the ASIC with License No. 335692. |
| Legitimate or a SCAM? | LEGITIMATE |
Further Clarification About ICMARKETS.COM and ICMARKETS.COM.AU
I’d like to clarify that icmarkets.com is provided by an entity called “Raw Trading Ltd”.
Notably, Raw Trading Ltd is the parent company of International Capital Markets Pty Ltd(ICMPL).
Nonetheless, ICMPL is the entity responsible for the icmarkets.com.au, the trading platform aimed towards Australia-based traders.
In short, icmarkets.com and icmarkets.com.au are linked trading platforms both ultimately owned by Raw Trading Ltd, the parent company of International Capital Markets Pty Ltd.
Since I’m writing this IC Markets review while primarily targeting traders based in Australia, I’ll be focusing more on the icmarkets.com.au trading platform.
IC Markets Review and More About ICMARKETS.COM.AU
IC Markets(icmarkets.com.au) has its offices and headquarters at Level 4, Carrington Street, Sydney, NSW 2000, AU
The 2007-founded trading platform offers access to the following financial markets:
- Forex.
- CFDs
- Commodities
- Precious metals
- Shares
- Bonds
- Indices
- Cryptocurrencies
Further, IC Markets(icmarkets.com.au) offers automated trading and a variety of trading software, including; cTrader, MetaTrader 4 and 5, TradingView, and ZuluTrade.
Additionally, the minimum deposit on this platform is 200 Australian dollars or equivalent. The brokerage offers multiple deposit methods, including:
- Bank wire transfer.
- Credit and debit card.
- Electronic payments, such as PayPal, Neteller, and Skrill.
Here are a few key points showing that icmarkets.com.au is credible:
1. Verifiable Regulatory Compliance Details
One of the surefire signals that IC Markets Australia is a credible trading platform is that you can verify its background and regulatory details on its website, icmarkets.com.au.
For example, the company states therein that it operates under the brand, International Capital Markets Pty Ltd with the following registration and license numbers, respectively, issued by the Australian Securities and Investments Commission:
- Registration No: ACN 123 289 109.
- License No: AFSL 335692.
Fair enough, I was able to verify this information through this document that seemed to be a response to ASIC’s inquiry about a particular regulatory matter.
The content of the document shows that IC Markets(icmarkets.com.au) is indeed regulated by the authority and the regulatory details on its website is factual and accurate.
2. Positive IC Markets Reviews All Over the Web
ICMARKETS.COM, the parent domain of ICMARKETS.COM.AU, generally receives positive reviews online.
For instance, Trustpilot awards it an impressive 4.8-star rating from over 41,740 user-generated reviews, with 91% of users giving it 5 stars.
Additionally, WikiFX, an independent broker review site, rates it 9.10/10 based on factors like regulatory compliance, risk management, trading software, and business practices.
Other sources also rate it highly, with scores of over 4 stars, suggesting that the platform is widely considered trustworthy by both clients and independent reviewers.
In fact, I did not come across any IC Markets review where the broker is adversely painted in a negative light.
3. Segregated Accounts for Clients’ Funds
I stated in this review post of a scam broker called “Bitogrand” that the law requires brokers to keep their clients’ funds separate from their companies’ funds and not have access to the former.
IC Markets does just that, keeping clients’ funds in segregated trust accounts at Tier 1 banks, even though the company does not disclose the specific banks with which it partners.
Just to give you an idea, the Tier 1 banks in Australia are those such as:
- National Australia Bank (NAB).
- Commonwealth Bank of Australia (CBA).
- ANZ Banking Group.
- Westpac Banking Corporation.
Keeping clients’ funds in segregated accounts is a great move as it helps ensure the safety of those funds by separating them from the broker’s own operational capital.
This reduces the risk of misuse or embezzlement. Additionally, in the event of the company facing liquidation or other financial issues, segregated accounts make it easier for clients to access their funds, protecting them from potential risks.
MERITS
- A legitimate trading platform that provides a genuine opportunity for skilled traders to make money.
- Convenient deposit and withdrawal methods, allowing clients to carry out transactions with ease.
- Requires a low minimum deposit, enabling more people to sign up and start trading.
- Withdrawal processing times are as short as only a few minutes, allowing users to receive their funds quickly.
- Offers demo trading accounts, allowing users to practice trading and perfect their skills first before going to Live Trading.
- Offers a wide variety of trading software.
DEMERITS
- Does not have its own proprietary trading software unlike other fully-fledged trading platforms, forcing users to depend on the third-party providers.
- Some of the customer support agents are not competent enough to answer some queries and clarify some issues.
Final Verdict
As you can tell from my honest IC Markets review, this broker is good and worth giving a try for those who are based in Australia.
However, one thing you need to watch out for is the clone domains that falsely claim to be linked to icmarkets.com, taking advantage of the fact that IC Markets is linked to many domains.
Domains such as icmarketpro.com, i-cmarketz.com, ic-forexmarket.com, and icm-market.com. are not associated with the genuine IC Markets(icmarkets.com).
Report A Scam Incident!!!
Have you fallen victim to a fraudulent trading platform? If so, go to this page to report the incident and seek help. You may also send an email to scamread@scamreader.info.
IC Markets Review and FAQs
1. Why is my deposit being declined on icmarkets.com.au?
There could be a limitation placed on your transactions by your bank or payment provider. In that case, the best course is to contact them.
2. IC Markets withdrawal processing time?
The time it takes to receive your funds can vary from a few minutes to up to 14 business days, depending on the withdrawal method you choose.
For example, electronic payment processors like PayPal, Neteller, and Skrill typically process withdrawals within 1 to a few hours.
Bank wire transfers usually take between 2 to 7 business days, while credit/debit card withdrawals may take anywhere from 30 minutes to 10 business days, depending on your bank.
Other payment processors, such as SafeCharge, eCommPay, CardPay, WorldPay, and Transact365, may take between 2 to 14 business days while some internet banking methods could take 1 to 5 business days.
3. Is IC Markets legitimate or a scam?
It’s 100% credible and recommended as a trading platform.