IC Markets Information

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 ASIC in Australia, CySEC in Cryprus and FSA in Seychelles. IC Markets offers 2,250+ CFDs on 61 currency pairs, 24 commodities, 2,100+ stocks, 25 indexes, 9 bonds, 21 cryptocurrencies, and 4 futures via the advanced trading platforms such as MetaTrader 4, MetaTrader 5, cTrader, and TradingView. The company also offers 24/7 customer support and a variety of educational resources for traders of all levels.

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 Australia Securities & Investment Commission (ASIC) and Cyprus Securities and Exchange Commission (CYSEC) contribute to a safer trading environment for clients.

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.

IC Markets Global is operated by Raw Trading Ltd and holds a Derivatives Trading License (No. SD018) issued by the Seychelles Financial Services Authority (FSA), authorizing futures, financial derivatives, securities, bond, options, and other financial product trading.

Market Instruments

IC Markets Global offers a wide range of over 2250 tradable instruments to trade, including CFDs on 61 currency pairs, 24 commodities, 2,100+ stocks, 25 indexes, 9 bonds, 21 cryptocurrencies, and 4 futures. This provides traders with the opportunity to diversify their investment portfolio and access multiple markets and assets.

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 Aixonly 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 Axi:

Broker	Minimum Deposit
	$200
	$100
	$10
	$0

Account Type/Fees

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, cTrader, or TradingView. 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 1:1000 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.

Trading Platform

IC Markets Global offers its clients a variety of trading platforms, including the popular MetaTrader4 and MetaTrader5 platforms as well as the cTrader and TradingView platforms.

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 MasterCard, Visa, PayPal, Neteller, Skrill, UnionPay, Wire Transfer, Bpay, Broker to Broker, POLi, Thai Internet Banking, Rapidpay, Klarna, and Vietnamese Internet Banking.

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.

HFM Information

HFM, founded in 2010, HFM is a multiregulated online trading broker that provides both individual and institutional clients with online trading services. HFM has been headquartered in Cyprus but serves several global offices in Dubai, South Africa, and offshore entities in St Vincent and the Grenadines.

It regulated by multiple regulators, and offers more than 500 trading instruments. In addition, it sets up 4 types of accounts for traders with different trading needs and experience, all of which can use the 3 trading platforms it provides.

Pros & Cons

Pros:

• HFM is a well-regulated company by various reputable authorities, CySEC, FCA, DFSA, and FSA (Offshore), providing a high level of security to traders' funds and personal information.
• The company offers 500+ CFDs on Forex, Commodities, Metals, Bonds, Energies, ETFs, Indices, Cryptos, and Stocks.
• There are multiple account types available, including Premium, Pro, Zero, and Cent, catering to the different needs of traders.
• HFM offers rich educational resources such as webinars, video tutorials, and daily analysis, providing valuable insights for traders.
• The company provides multiple trading platforms including MetaTrader4, MetaTrader5, and their proprietary HFM Trading App, giving traders a wide range of options to choose from.
• HFM offers various customer channels, through multiple channels including email, phone, and live chat.

Cons:

• HFM does not provide services to residents of the USA, Canada, Sudan, Syria, Iran, and North Korea.
• Customer support is only available from 00:00 Monday to 23:59 Friday (Server Time).

Is HFM Legit?

Yes. HFM is regulated by multiple regulatory authorities, including FCA in UK, DFSA in UAE, and FSA in Seychelles.

Regulated Country	Regulated Authority	Current Status	Regulated Entity	License Type	License Number
	FCA	Regulated	HF Markets (UK) Limited	Straight Through Processing (STP)	801701
	DFSA	Regulated	HF Markets (DIFC) Limited	Retail Forex License	F004885
	FSA	Offshore Regulated	HF Markets (Seychelles) Ltd	Retail Forex License	SD015

• HF Markets (UK) Limited, its UK entity, under the regulation of the Financial Conduct Authority - FCA in the UK (license number 801701)

• HF Markets (DIFC) Limited, the Dubai entity under regulation of Dubai Financial Services Authority - DFSA (license number F004885)

• HF Markets (Seychelles) Ltd, authorized and offshore regulated by the Seychelles Financial Services Authority (FSA), with Regulatory License No. SD015

HFM appears to be a serious player when it comes to offering protection measures for its clients. They provide market leading insurance, positioning themselves as an industry leader in financial safety.

In addition to this, they maintain their accounts with major banks and ensure the segregation of client funds for added security. They also provide protection against negative balances, helping traders avoid owing more than they've invested.

Along with these measures, HFM implements robust risk management strategies to further safeguard their clients' assets.

Market Instruments

HFM offers a diverse range of 500+ CFDs on Forex, Commodities, Metals, Bonds, Energies, ETFs, Indices, Cryptos, and Stocks. This extensive offering provides traders with a wide range of investment opportunities and the ability to diversify their portfolio.

Account Types

HFM indeed offers a range of accounts to suit various trading styles and levels. They provide the option of Cent, Zero, Pro, and Premium accounts, catering to both novice and experienced traders.

The Pro account requires an initial deposit of $/€100 to get started. Interestingly, HFM does not impose a minimum deposit requirement for the Cent, Zero, and Premium accounts.

Alongside these, they also offer free demo accounts, allowing potential traders to test out their platform and develop their trading strategies before committing real money.

How to Open an Account?

Opening an account with HFM typically involves a few standard steps:

Step 1: Visit the HFM website and click on the “Register” button.

Step 2: Fill out the registration form with your personal information such as country of residence, email address, and password.

Step 3: Once you've completed the registration form, you'll need to submit some documents to verify your identity and address. This generally involves uploading a copy of your passport or national ID for identification and a utility bill or bank statement for proof of address.

Step 4: After identity verification, you can choose your account type. HFM offers Cent, Zero, Pro and Premium accounts. The Pro account requires a minimum initial deposit of $/€100/₦50,000/¥13,000, while the other three types do not have a minimum deposit requirement.

Step 5: Once you've selected your account type, you can make the necessary deposit using your preferred method of payment.

Step 6: After your deposit is confirmed, your account should be set up and ready for trading.

Leverage

HFM offers a maximum leverage of up to 1:2000, which can be an attractive feature for traders looking to maximize their potential profits with a smaller investment. This high leverage also provides greater market exposure and trading opportunities, allowing traders to take advantage of price movements in various markets.

However, it is important to note that high leverage also comes with high risk and potential losses. Traders must exercise proper risk management and discipline to avoid margin calls and account liquidation. While this feature may attract experienced traders, it may not be suitable for all, especially beginners or those with limited capital.

Spreads & Commissions

HFM caters to different trading preferences with variable spreads across its account types.

Trading Platforms

HFM offers multiple trading platforms including the popular MetaTrader4 and MetaTrader5 platforms as well as their proprietary HFM Trading App.

The MetaTrader4 and MetaTrader5 platforms are widely used in the industry and provide traders with access to a wide range of trading tools and indicators.

The HFM mobile app is relatively new but has an intuitive user interface and advanced charting features. However, it may have limited customization options and a limited selection of third-party plugins and add-ons.

Deposits & Withdrawals

HFM indeed provides a variety of options to make deposit and withdrawal processes simple and flexible for its customers. They accept UnionPay (only withdrawal), Wire Transfer, MasterCard, Visa, Crypto, Fasapay, Neteller, Skrill.

The minimum deposit or withdrawal limit is quite low, set at $5 for most payment methods, which makes it convenient for traders of all sizes. They also ensure cost-effectiveness by not charging for most deposits and withdrawals.

More details can be found in the below screenshots:

Education Resources

HFM is deeply committed to trader education and offers a comprehensive suite of educational resources for traders at all levels. They provide in-depth trading courses that cover a wide range of topics.

Their portfolio of educational resources also includes engaging videos that explain intricate trading concepts in an easy-to-understand format.

They hold webinars and seminars (upcoming), giving both novice and experienced traders the opportunity to learn first-hand from industry experts.

Additionally, HFM provides insightful podcasts featuring discussions on various trading topics.

In addition, HFM offers How To Videos for traders to learn about using HFM App, MT4 and MT5 platforms.

Customer Service

HFM offers multiple avenues of customer support to ensure all client queries and concerns are attended to. The live chat feature on their platform allows for real-time assistance, alongside a contact form for more comprehensive inquiries.

They can also be reached through their phone number: +44-2030978571 or via email at support@hfm.com.

For those who prefer social media interactions, they have an active presence on Facebook, Twitter, Telegram, Instagram, YouTube, and LinkedIn where they post regular updates and users can interact with them.

Lastly, for common questions, their FAQ section could be of help as it covers a range of general queries.