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Do you want to know which is the better broker between IC Markets and GO MARKETS ?
In the table below, you can compare the features of IC Markets , GO MARKETS side by side to determine the best fit for your needs.
EURUSD: -0.1
XAUUSD: 1.1
Long: -6.25
Short: 2.56
Long: -32.83
Short: 20.77
Long: -5.54
Short: 2.94
Long: -30.03
Short: 17.99
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of ic-markets, go-markets lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
IC Markets 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.
Quick IC Markets Review in 10 Key Points | |
Registered in | Australia |
Regulated by | ASIC, CYSEC |
Founded in | 2007 |
Trading Instruments | Forex pairs, commodities, stocks, cryptocurrencies, indices, bonds, futures |
Minimum Initial Deposit | $200 |
Demo Account | Available |
Islamic Account | Available |
Maximum Leverage | 1:500 |
Minimum Spread | 0.0 pips onwards |
Trading Platforms | MetaTrader4, MetaTrader5, cTrader |
Deposit & Withdrawal Method | Neteller, skrill, bank transfer, VISA, Mastercard, paypal, credit card, debit card, unionpay, poli, wire transfer, rapidpay, klarna |
Customer Service | 24/7 support, email, phone, address |
IC Markets 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 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.
IC Markets 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 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.
IC Markets maintains regulatory compliance in both Australia and Cyprus, adhering to the respective financial regulatory standards in these jurisdictions. Regulatory oversight by ASIC and CYSEC helps ensure transparency and accountability in the broker's operations, contributing to 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 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.
IC Markets 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.
IC Markets 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 minimum deposit with Avatrade, Exness, and Axitrader:
Broker | Minimum Deposit |
$200 | |
$100 | |
$1 USD | |
$100 |
Pros | Cons |
Wide range of account types | High minimum deposit requirement |
Demo account available | Standard account has wider spreads |
Islamic account available | Commission charged on some accounts |
Different trading platforms | Limited information on account features |
Competitive spreads on some accounts |
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.
IC Markets 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.
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. However, it is crucial for traders to exercise caution when using high leverage as it also increases the potential for significant losses. Inexperienced traders may not be suited for high leverage as it requires a thorough understanding of risk management. It is important to note that certain jurisdictions may have regulatory restrictions on high leverage, and traders should comply with the relevant regulations.
IC Markets 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.
Pros | Cons |
Support for popular platforms: MetaTrader4, MetaTrader5, cTrader | Limited customization options for cTrader |
Variety of trading tools and indicators | Steep learning curve for cTrader |
Advanced charting capabilities | |
Ability to use EAs and automate trading strategies | |
Mobile trading apps available for all platforms |
IC Markets 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.
Pros | Cons |
Various payment options | Intermediary and beneficiary fees for international bank wire transfers |
Free deposits and withdrawals | Withdrawal cut off time at 12:00 AEST/AEDT |
Instant withdrawal processing for Paypal/Neteller/Skrill | Withdrawal takes up to 10 business days depending on bank |
IC Markets 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 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.
IC Markets offers a comprehensive range of educational resources that cater to traders of all levels. These 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.
Pros | Cons |
24/7 customer support available | No live chat option for immediate assistance |
Multiple ways to contact support (phone, email) | Phone support may have international charges |
Prompt response times to email inquiries |
IC Markets 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.
IC Markets 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.
Question 1: What is the minimum deposit required to open an account with IC Markets?
Answer 1: $200.
Question 2: What are the available deposit and withdrawal methods on IC Markets?
Answer 2: Neteller, Skrill, bank transfer, VISA, Mastercard, Paypal, credit/debit cards, Poli, wire transfer, rapidpay, and klarna.
Question 3: What trading platforms are available on IC Markets?
Answer 3: MetaTrader4, MetaTrader5, and cTrader.
Question 4: What is the maximum leverage offered by IC Markets?
Answer 4: 1:500.
Question 5: Does IC Markets charge any fees for deposits and withdrawals?
Answer 5: IC Markets does not charge any fees for deposits and withdrawals. However, additional fees may occur at some banking institutions.
GO Markets is an Australia-based Forex and CFDs broker founded in 2006. The broker provides 1000+ tradable CFD instruments including forex, shares, commodities, indices, metals, and treasuries. GO Markets is regulated by the ASIC in Australia, the CySEC in Cyprus, the FSC in Mauritius, and the FSA (Seychelles).
GO Markets is one of the first Australian MetaTrader 4 brokers, later on, it added MetaTrader 5, WebTrader, cTrader and mobile apps to its suite of services. The broker is well known for its strict compliance and competitive spreads.
Broker Name | GO Markets |
Registered in | Australia. Cyprus. Mauritius. Seychelles |
Regulation status | ASIC, CYSEC, FSA |
Year(s) of incorporation | 15-20 years |
Market instruments | Forex CFDs, Share CFDs, Index CFDs, Metals CFDs, Cryptocurrency CFDs, Commodity CFDs and Treasury CFDs. |
Minimum initial deposit | USD $0 |
Demo accounts | Available |
Social trading | Yes |
Maximum leverage | 1:500 |
Minimum spread | From 0.0 pips |
Tading platform | MT4, MT5, WebTrader,Mobile Trading |
Customer Service | Email, Phone, Live chat, 24/5 |
Fraud complaints | NO |
GO Markets has multiple regulations from recognized organizations in the industry, which gives greater credibility and security to its clients.
It offers a wide variety of financial instruments, including more than 1000 instruments, including Forex CFDs, Share CFDs, Index CFDs, Metals CFDs, Cryptocurrency CFDs, Commodity CFDs and Treasury CFDs. It has a market-leading trading platform, MetaTrader 4 and MetaTrader 5, which has numerous technical analysis tools and customizable charts.
It offers excellent customer service, available in multiple languages and through multiple communication channels.
Deposits and withdrawals are processed quickly, with a one business day lead time for withdrawals.
It has an educational section on its website that offers materials for beginners and advanced traders.
As for the cons, we found that the main point is that the conditions are different in each entity. Another point is that the brokers support is not available 24/7.
GO MARKETS is an online forex brokerage company that offers clients access to a wide variety of financial instruments, including Forex CFDs, Share CFDs, Index CFDs, Metals CFDs, Cryptocurrency CFDs, Commodity CFDs and Treasury CFDs. The company is regulated by multiple regulatory bodies including ASIC, CYSEC, FSC and FSA.
GO Markets Pty Ltd - authorized by ASIC (Australia) registration AFSL: 254963 ABN: 85 081 864 039
GO Markets Ltd - authorized by CySEC (Cyprus) registration no. 322/17
GO Markets International Ltd - authorized by the FSA (Seychelles) license no. SD043
With Go Markets, clients can easily trade with over 1,000 products, covering Fore, Shares CFDs, Indices, Metals, Commodities, and Treasury.
GO Markets Leverage depends on the entity you have an account with since leverage falls under certain regulations. International Traders can access high-leverage ratios. For forex trading, GO Markets Pty Ltd, Mauritius (FSC regulated) offers generous leverage up to 1:500.
The broker offers two account types Standard and GO Plus Accounts with the flexibility to manage the trading way and choose the best fit. So there is an option between a Standard trading proposal based on spread charges and access to a true ECN environment via GO Plus+ specifically designed through light-fast technology. The Standard account caters to traders seeking accessibility, requiring a minimum deposit of $200 and offering leverage up to 500:1 across forex, metals, commodities, and indices markets. Conversely, the Pro account is geared towards more experienced traders, demanding a higher minimum deposit of $300 while providing the same leverage and instrument range as the Standard account. Notably, the account can be only opened USD.
Notably, The GO Plus+ account supports 9 different base currencies including AUD, GBP, EUR, NZD, USD, SGD, CHF, CAD, HKD.
Apart from offering one of the best spreads for the products suite, GO Markets is also the most competitive in terms of holding costs or overnight swaps. GO Markets offers Swap-Free Accounts to traders available on the Standard and GO Plus+ accounts on Meta trader platforms. GO Markets Swap-Free account is available to legitimate holders who are Muslim and cannot use “swaps” due to their religious belief.
Further, the GO Plus Account is already a choice for advanced traders or those whose strategy requires it as spreads from 0.0 pips and trading costs inbuilt in the commission as low as 2.50$ per side.
GO Markets spreads are aggregated from 22+ Tier 1 and 2 liquidity providers making them go as low as 0.0 pips. The GO Markets average spreads for Standard and GO Plus+ accounts are listed on their page. However, the data is provided for general information only and is taken over a one-month period. Prices shown may vary. For instance, see below a comparison of the Standard spread offering, as well as your comparing fees to another popular broker.
Besides, always consider overnight fee as a cost, also known as Rollover rate or interest for holding positions open overnight.
In terms of trading platform suppored, GO Markets offers a robust suite, which makes it stands tall among most brokers. MetaTrader 4 and 5 platforms provide advanced charting tools, expert advisors, and VPS options. The user-friendly cTrader platform enables advanced customization and order capabilities. Copy trading solutions like MetaTrader Copy Trader and cTrader Copy Trading allow following successful traders' strategies. Mobile trading apps for Android and iOS ensure access on-the-go. The GO WebTrader offers a web-based MT4 and MT5 experience without downloads.
Platforms | GO Markets |
MetaTrader 4 | Yes |
MetaTrader 5 | Yes |
Mobile Trading Platforms | Yes |
WebTrader | Yes |
cTrader | No |
cTrader Copy Trading | No |
Additionally, GO Markets offers the following trading tools to enhance trading experience:
VPS (Virtual Private Server): A VPS provides continuous access and optimal speed for MT4 and MT5 platforms, ensuring vital speed and uninterrupted trading.
Autochartist: Autochartist specializes in real-time price action alerts, volatility analysis, and event impact assessments, allowing traders to easily apply charts and stay informed about market movements.
Trading Central: Trading Central offers a collection of programs that provide actionable investment support with 24-hour multi-asset coverage and analysis, empowering traders with comprehensive market insights.
MetaTrader Genesis: MetaTrader Genesis is a comprehensive suite of Expert Advisors (EAs) designed to enhance the capabilities of the standard MetaTrader platform, enabling advanced trading automation and strategy implementation.
GO Markets offers fee-free deposits through various payment methods, including Mastercard, Visa, Skrill, Neteller, and bank/wire transfers. These options support multiple currencies like AUD, USD, GBP, EUR, and others, serving traders across different regions.
Generally, GO Markets enables fee-free internal withdrawals. However, withdrawals to non-Mauritian banking institutions may incur fees from intermediary banks and the recipient's bank. Withdrawal requests received before 7 AM MUT are processed the same day, while later requests are handled the next business day. All withdrawals are processed back to the original funding source for security. While GO Markets ensures a seamless withdrawal process, external fees from third-party banks may apply in certain cases.
GO Markets Customer Service was rated #1, in addition to its great Awards received in other aspects. Successful brokers recognized the need for quality service, but of course, not everyone can have one.
with 14+ language coverage, GO Markets stands ahead in that point too, so you can count on relevant and fast answers from the Customer Support GO Markets. The brokers team is available around the clock and supports international languages accessible via Live Chat, email, and phone lines in Australia, the UK and internationally as well. And although the broker does not provide 24/7 client support, it has highly acclaimed 24/5 client support.
And of course, since novice traders always pass through great challenges while exploring trading opportunities, GO Markets provide the educational materials and research resources necessary to perform seamless trading. Eventually, GO Markets educational programs and its GO Markets Academy are numerously award-winning materials that are defined by all levels of traders and available for Free use.
So in GO Markets Academy and Education Centre, you will find Forex trading learning courses, Video Tutorials, also Tutorials and regularly held Seminars and Webinars in various languages. Also, Demo Account is offered for free use with no limits where beginners can place their strategy at the test or see GO Markets environment.
As for the Research tools, besides very comprehensive research inbuilt into Metatrader 4 platform, GO Markets also cooperates with Autochartist and Trading Central providers so you can use its free trading signals and ideas for your benefit. Besides, thousands of MetaTrader 4 & 5 Add-ons remain at your suite which is defined by the instrument and specified criteria, where also you may use the great tool MT4 Genesis.
GO Markets knows that knowing where to find the information that you need and having the confidence that you can find the answers to your trading questions could be very helpful with your day-to-day trading.
Use these comprehensive Forex Trading FAQs to learn all the basics as well as the more advanced topics in forex trading. GO Markets has covered the lot from how to open a forex trading account to how to use the MetaTrader trading platform, Forex trading system, and more. Whether you're new to trading FX or you have several years of experience trading currencies, you will find a lot of useful information in these FAQs.
Q: What is the minimum deposit required to open an account with Go Markets?
A: The minimum deposit required varies depending on the account type you choose. The Standard account requires a minimum deposit of $200, while the Pro account requires a minimum deposit of $300.
Q: Does Go Markets offer Islamic (Swap-Free) accounts?
A: Yes, Go Markets offers Islamic accounts, also known as Swap-Free accounts, which comply with Islamic financial principles by avoiding interest charges or swap fees.
Q: What is Go Markets' leverage policy?
A: Go Markets offers leverage up to 500:1 for both Standard and Pro accounts.
Trading online carries inherent risks, including the potential loss of invested capital. It may not be suitable for all traders or investors. It's essential to understand and acknowledge these risks before engaging in online trading. Additionally, please note that the information provided in this review is subject to change as the company updates its services and policies. The date of this review's generation is also crucial, as information may have evolved since then. Therefore, readers are encouraged to verify updated information directly with the company before making any decisions or taking action. The reader assumes full responsibility for the use of the information provided in this review.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive ic-markets and go-markets are, we first considered common fees for standard accounts. On ic-markets, the average spread for the EUR/USD currency pair is -- pips, while on go-markets the spread is from 0.0.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
ic-markets is regulated by ASIC,CYSEC. go-markets is regulated by ASIC,CYSEC,FSA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
ic-markets provides trading platform including Standard,Raw Spread,cTrader and trading variety including --. go-markets provides trading platform including GO Plus+ Account,Standard Account and trading variety including Wide range of FX pairs, Shares, Indices & Commodities.