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Do you want to know which is the better broker between OANDA and IC Markets ?
In the table below, you can compare the features of OANDA , IC Markets side by side to determine the best fit for your needs.
EURUSD: -0.1
XAUUSD: 0.2
Long: -6.25
Short: 2.56
Long: -32.83
Short: 20.77
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 oanda, ic-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:
OANDA | Basic Information |
Registered Country/Region | Australia |
Founded in | 1996 |
Regulation | CFTC, FCA, ASIC, IIROC, MAS, NFA, FSA |
Min. Deposit | No minimum deposit |
Max. Leverage | 1:50 (US), 1:30 (EU), 1:200 (other regions) |
Min. Spreads | From 0.6 pips (EUR/USD pair) |
Trading Instruments | Forex, CFDs, indices, commodities, bonds |
Trading Platforms | OANDA Trade, MetaTrader 4, API Trading |
Payment Methods | Bank transfer, credit/debit cards, PayPal |
Customer Support | 7/24 phone, email, live chat |
OANDA is a well-known online forex broker that has been operating for over two decades. With a reputation for transparency and reliability, OANDA offers a wide range of trading products and services, including forex, CFDs, commodities, and indices.
Founded in 1996, OANDA is headquartered in New York City and is regulated in multiple jurisdictions, including the US, UK, Canada, Australia, and Japan. This ensures that OANDA operates within strict regulatory frameworks and offers a high level of security and protection to its clients.
OANDA offers a range of trading platforms, including its proprietary platform, as well as the popular MT4 platform. The broker also provides a range of educational resources and tools to help traders improve their trading skills and stay up-to-date with market developments. In terms of customer support, OANDA has a 24/7 customer service team that can be reached via phone, email, or live chat.
OANDA is a well-established forex and CFD broker with a range of features and services that may appeal to traders of all levels. As with any broker, there are both pros and cons to consider before deciding whether to open an account. Some of the key advantages of OANDA include its regulatory status, extensive range of instruments, competitive spreads, and variety of trading platforms. However, it is important to note that OANDA also has some potential drawbacks, such as limited deposit and withdrawal options, high non-trading fees, and a lack of negative balance protection. Understanding both the positives and negatives of trading with OANDA can help traders make informed decisions about whether this broker is the right fit for their needs.
Pros | Cons |
Regulated by top-tier authorities | Limited product portfolio |
Competitive spreads and low trading fees | High inactivity fees |
No minimum deposit requirement | Limited research tools |
Variety of trading platforms | Negative reviews and complaints on customer support |
Educational resources and tools | Limited payment options |
Strong financial background | No professional account offered |
OANDA is a legitimate forex broker that has been in operation for more than 20 years and is regulated by reputable financial authorities, such as the Financial Conduct Authority (FCA) in the UK, the Commodity Futures Trading Commission (CFTC) in the US, and the Australian Securities and Investments Commission (ASIC). OANDA has also won numerous awards for its trading services and technology, including being named the “Best Forex Broker” by the Financial Times and Investors Chronicle for three consecutive years. However, as with any financial service, it is important for traders to conduct their own research and due diligence before deciding to trade with OANDA or any other broker.
OANDA offers a wide range of trading instruments to its clients, allowing them to diversify their investment portfolio and take advantage of various market opportunities. The market instruments offered by OANDA include:
Forex: OANDA provides access to a wide range of currency pairs, including major, minor, and exotic pairs. The forex market is the largest and most liquid market in the world, offering traders the potential for high returns.
Indices: OANDA offers trading in a variety of global indices, such as the US 500, UK 100, and Germany 30. These indices represent the performance of a basket of stocks and provide traders with exposure to a broader market.
Commodities: OANDA offers trading in commodities such as precious metals, energy, and agricultural products. These markets can be highly volatile, but they offer the potential for significant returns.
Bonds: OANDA offers trading in government bonds from a variety of countries, providing traders with exposure to the fixed-income market.
Cryptocurrencies: OANDA offers trading in popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. The cryptocurrency market is highly volatile and can offer traders significant opportunities.
Bonds: OANDA also offers a range of bond CFDs to trade, including US Treasury Bonds, UK Gilts, and Euro Bunds. With bond trading, traders can access a wide range of bond markets and potentially benefit from price movements in global interest rates.
OANDA offers two live account types to cater to different trading needs and experience levels of traders. Here are the account types offered by OANDA:
Standard Account: This account type is suitable for new traders who are just starting in the forex market. The minimum deposit requirement for this account is $0, and it offers access to the core features of OANDA's trading platform, including over 70 currency pairs, commodities, and indices.
Premium Account: This account is designed for more experienced traders who require additional features and services. The minimum deposit requirement for this account is $20,000, and it offers tighter spreads, lower trading costs, and a dedicated relationship manager.
Apart from two live trading accounts, OANDA also offers a free demo account, which allows traders to practice trading with virtual funds in a risk-free environment. The demo account provides access to all the features and tools of the OANDA platform, allowing traders to test their strategies and trading skills without risking real money.
Pros | Cons |
No minimum deposit requirement | Limited leverage offered |
Multiple account types to choose | No professional accounts available |
Wide range of trading instruments | Inactivity fee charged after 12 months of inactivity |
Commission-free trading | |
Negative balance protection | |
Free demo account available |
Visit the official OANDA website and click on the “Open an Account” button.
Choose the type of account you want to open.
Fill in your personal information, including your name, address, date of birth, and employment status.
Provide some additional information, such as your trading experience, investment goals, and financial status.
Agree to the terms and conditions of the account and submit your application.
Once your application is approved, you will receive an email with instructions on how to fund your account.
Follow the instructions to deposit funds into your account and start trading.
OANDA offers leverage up to 50:1 for major currency pairs and up to 20:1 for minor currency pairs, commodities, and indices. However, leverage may vary based on the regulatory requirements of the country where the trader is located. It is important to note that high leverage can increase both profits and losses, and traders should carefully consider their risk tolerance before using leverage.
OANDA charges variable spreads that start from as low as 0.1 pips on major currency pairs. OANDA's spreads can vary depending on market volatility and liquidity, but they tend to be lower than the industry average.
In terms of commissions, OANDA does not charge any commissions on trades. Instead, the broker earns revenue from the spreads on trades. This can be a plus for traders who prefer to avoid paying commissions.
It's worth noting that OANDA also offers a range of order types, including limit, stop-loss, and take-profit orders, which can help traders manage their risk and maximize their profits.
Here is the combined data for EUR/USD, gold, and UK100 spreads from three brokers:
Broker | EUR/USD | Gold | UK100 |
OANDA | 0.9 pips | 25 cents | 1.4 pips |
FP Markets | 0.0 pips | 35 cents | 1.0 pips |
Exness | 0.3 pips | 35 cents | 0.5 pips |
OANDA also charges certain non-trading fees, which include:
Inactivity fee: OANDA charges an inactivity fee of 10 units of the account's base currency per month if there has been no trading activity for a period of 12 months or more. This fee can be avoided by simply placing a trade during this period.
Financing/rollover fees: If a position is held overnight, OANDA charges a financing/rollover fee. This fee is based on the interest rate differential between the two currencies involved in the trade and is calculated using the following formula: (trade size x interest rate differential x 1/365).
Deposit/withdrawal fees: OANDA does not charge deposit fees, but some withdrawal methods may incur a fee. For example, bank wire withdrawals within the US incur a $20 fee, while international wire withdrawals incur a $35 fee.
Conversion fees: If you are depositing or withdrawing funds in a currency other than your account's base currency, OANDA charges a conversion fee. This fee varies depending on the currency and the amount being converted.
OANDA offers multiple choices of trading platforms, namely MetaTrader 4 (MT4), OANDA Web Trading Platform, and OANDA Trade.
MetaTrader 4 (MT4): This is a widely used trading platform in the forex industry, popular for its advanced charting tools and automated trading capabilities. OANDA offers MT4 to its clients as a downloadable desktop application and mobile app.
OANDA offers a proprietary trading platform called OANDA Trade, which is available in both web-based and mobile versions. The platform is highly customizable and offers a wide range of charting tools, technical indicators, and order types.
OANDA Web Trading Platform: This is a web-based platform accessible from any device with internet connectivity. It offers a user-friendly interface and customizable features for traders to analyze the market and execute trades.
Here is a comparison table of the trading platforms offered by OANDA, Avatrade, and IC Markets:
Broker | Trading Platform | Desktop | Web | Mobile |
OANDA | OANDA Platform | ✔ | ✔ | ✔ |
MetaTrader 4 | ✔ | ✔ | ✔ | |
MetaTrader 5 | ✔ | ✔ | ✔ | |
Avatrade | AvatradeGO | ✖ | ✔ | ✔ |
MT4 | ✔ | ✔ | ✔ | |
MT5 | ✔ | ✔ | ✔ | |
IC Markets | cTrader | ✔ | ✔ | ✔ |
MetaTrader 4 | ✔ | ✔ | ✔ | |
MetaTrader 5 | ✔ | ✔ | ✔ | |
WebTrader | ✖ | ✔ | ✔ |
OANDA provides several trading tools to its clients, including:
Advanced Charting: OANDA's advanced charting tools offer technical analysis and indicators to help traders make informed decisions.
Economic Calendar: OANDA's economic calendar provides real-time updates on important economic events and news releases that can affect the markets.
Partners & VPS: OANDA partners with TradingView, a leading charting platform, to provide its clients with advanced charting and analysis tools. OANDA also partners with MotiveWave, a professional trading platform, to offer advanced technical analysis tools and trading strategies. In addition, OANDA offers a virtual private server (VPS) service to traders who require uninterrupted trading connectivity.
Deposit
OANDA offers several deposit methods, including:
PayNow/QR Pay: This payment method is available for Singapore residents only. It allows for instant deposits into your trading account. Deposits from the following banks in Singapore: DBS/POSB, Bank of China, Citi, HSBC, Maybank, OCBC, Standard Chartered and UOB, are accepted.
DBS Bill Pay (SGD only): Another payment method available only for Singapore residents, DBS Bill Pay allows you to make SGD-denominated deposits into your trading account.
PayPal: PayPal is a popular online payment system that is accepted by OANDA. It allows you to make instant deposits and withdrawals from your trading account.
FAST: FAST (Fast and Secure Transfers) is a real-time interbank payment and settlement system in Singapore. It allows for instant SGD-denominated deposits into your trading account.
Bank wire transfer: You can also fund your trading account via bank wire transfer. This method typically takes 1-2 business days to process.
Cheques: Cheques are accepted for deposits only, and they must be in SGD currency.
Paypal: This is an online payment system that allows you to send and receive money electronically. To use this method for withdrawal, you will need to have a verified Paypal account that is linked to your OANDA trading account. Withdrawals are typically processed within 1-2 business days.
Bank Transfer: This method involves transferring funds from your OANDA trading account directly to your bank account. The time it takes to receive your funds will depend on your bank's processing time. OANDA does not charge any fees for bank transfers, but your bank may have its own fees.
Cheque: You can request to receive your funds via cheque, which will be sent to your registered address. It typically takes around 7-10 business days to receive your cheque. However, there may be additional fees for this method, depending on your location.
Pros | Cons |
Multiple deposit methods offered | Limited withdrawal methods |
No fees charged on deposits | Withdrawals may take longer to process |
Fast processing time for most deposit methods | Minimum withdrawal amount may vary by method |
Deposit amounts in multiple currencies | No option to withdraw to credit/debit cards |
OANDA offers customer support services through various channels, including email, live chat, phone, and social media. The support team is available 24/7 to assist traders with any issues they may encounter during their trading journey.
One notable feature of OANDA's customer support is its multilingual support, which is available in several languages, including English, Chinese, French, German, Italian, Japanese, Korean, Portuguese, Russian, Spanish, and Turkish.
In addition to its customer support services, OANDA provides a comprehensive FAQ section on its website, which covers various topics, including account management, trading platforms, technical analysis, and more. The FAQ section is a valuable resource for traders who may have common questions and want quick answers without contacting customer support.
OANDA offers a wealth of educational resources to its clients, enabling them to develop their trading skills and stay up-to-date with the latest market trends. Whether you are a beginner or an experienced trader, OANDA's educational resources cater to your needs.
One of OANDA's important educational resources is the OANDA Academy, which offers a range of educational materials, including videos, tutorials, webinars, and articles, covering a wide range of trading topics, from the basics of forex trading to advanced trading strategies.
Additionally, OANDA provides clients with a variety of market analysis tools and resources, including market news, economic indicators, and trading signals, enabling traders to stay informed about the latest market trends and make informed trading decisions.
OANDA is a well-established online broker that offers a variety of trading instruments, account types, and platforms to its clients. The broker is regulated by multiple reputable authorities and has been operating for more than two decades, which gives it credibility and reliability. Additionally, OANDA provides several trading tools, educational resources.
However, it is important to note that OANDA has received a significant number of complaints regarding its customer support, trading platforms, and pricing policies. While the broker has taken steps to address these issues, they still raise concerns about the overall quality of its services.
Overall, OANDA is a legitimate and reputable broker that offers a range of benefits to its clients. However, potential traders should be aware of the complaints and consider them before making a decision to open an account with OANDA. As with any investment, it is important to conduct thorough research and due diligence to ensure that the broker aligns with your trading needs and preferences.
Q: Is OANDA regulated?
A: Yes, OANDA is regulated by multiple financial regulatory authorities around the world, including the Financial Conduct Authority (FCA) in the UK, the Commodity Futures Trading Commission (CFTC) in the US, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS).
Q: What is the minimum deposit required to open an account with OANDA?
A: The minimum deposit required to open an account with OANDA varies depending on the account type and the regulatory jurisdiction. In general, it ranges from $0 to $20,000.
Q: What trading instruments are available on OANDA's platform?
A: OANDA offers a wide range of trading instruments, including forex, CFDs, commodities, bonds, and stock indices.
Q: Does OANDA charge commissions on trades?
A: OANDA does not charge commissions on trades. Instead, they make money from the spread, which is the difference between the bid and ask price.
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 |
Maximum Leverage | 1:500 |
Minimum spread | 0.0 pips onwards |
Trading platform | MetaTrader4, MetaTrader5, cTrader |
Deposit and withdrawal method | Neteller, skrill, bank transfer, VISA, Mastercard, paypal, credit card, debit card, unionpay, poli, wire transfer, rapidpay, klarna |
Customer Service | Email, phone number, address |
Pros | Cons |
IC Markets offers tight spreads and fast execution due to its Market Making model. | As a counterparty to its clients' trades, IC Markets has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients. |
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 is an Australian-based 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 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.
Pros | Cons |
Over 2250 instruments available | None mentioned |
Opportunity to diversify investment portfolio | |
Access to multiple markets and assets |
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. With such a diverse range of trading instruments, IC Markets caters to a wide range of trading strategies and investment goals.
IC Markets, a well-known forex broker, 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 |
IC Markets Account Types
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.
Pros | Cons |
Low spreads starting from 0.0 pips | Commissions may be higher than other brokers |
Variety of account types to choose from | High spreads on some account types |
Transparent commission structure | Some accounts require higher minimum deposits |
No hidden fees or charges | Some withdrawal methods may have fees |
Scalping and hedging allowed | Inactivity fees after 12 months of no activity |
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. It's important to note that while some account types may have higher commissions, the broker is transparent about its commission structure and there are no hidden fees or charges. The broker also allows scalping and hedging strategies. However, there are inactivity fees after 12 months of no activity. Additionally, some withdrawal methods may have fees.
Pros | Cons |
Support for popular platforms: MetaTrader4, MetaTrader5, cTrader | Limited selection of platforms |
Variety of trading tools and indicators | Limited customization options for cTrader |
Advanced charting capabilities | Steep learning curve for cTrader |
Ability to use EAs and automate trading strategies | MetaTrader4 and MetaTrader5 are similar, which can be confusing for some traders |
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. Additionally, traders should note that IC Markets has a limited selection of platforms compared to some other brokers in the industry. Overall, IC Markets offers a solid selection of trading platforms that should satisfy the needs of most traders.
Pros | Cons |
Allows for high potential profits with small capital | Increases the potential for high losses with small capital |
Provides traders with flexibility in trading | Can lead to traders taking on more risk than they can handle |
Can amplify the effectiveness of trading strategies | Requires careful risk management to avoid excessive losses |
Allows traders to access larger positions in the market | May not be suitable for inexperienced traders |
Enables diversification of investment opportunities | High leverage may be restricted in certain jurisdictions due to regulatory restrictions. |
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.
Pros | Cons |
Various deposit options | Intermediary and beneficiary fees for international bank wire transfers |
Withdrawals are free of charge | Withdrawal cut off time at 12:00 AEST/AEDT |
Credit/debit card withdrawals are processed free of charge | Withdrawal time may take up to 10 business days depending on bank |
Instant withdrawal processing for Paypal/Neteller/Skrill | Credit card withdrawals may not be available for all countries |
Withdrawals must be made from same account as deposits | |
No additional fees charged by IC Markets for deposits and withdrawals |
IC Markets offers a variety of deposit and withdrawal options, including neteller, skrill, bank transfer, VISA, Mastercard, paypal, credit card, debit card, unionpay, poli, wire transfer, rapidpay, and klarna. IC Markets does not charge any additional 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 may take up to 10 business days to process depending on the bank. International bank wire transfers may take up to 14 days and incur additional intermediary and/or beneficiary fees. Credit/debit card withdrawals are processed free of charge and may 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.
Pros | Cons |
Wide range of educational resources available, including economic calendar, market reports, video tutorials, and calculators. | Some of the educational resources may not be suitable for beginners. |
IC Markets' educational resources are updated regularly to ensure the information is relevant and up-to-date. | The resources may be overwhelming for beginners due to the large amount of information available. |
The glossary is useful for understanding forex terms and concepts. | Some of the educational resources may require prior knowledge of forex trading. |
The video tutorials cover a wide range of topics, from basic concepts to advanced strategies. | IC Markets' educational resources may not be as comprehensive as some other brokers. |
IC Markets' blogs provide insights into the forex market, which can be useful for making informed trading decisions. | The educational resources may not be tailored to individual traders' needs. |
The calculators are helpful tools for calculating risk, margin, and position size. | The educational resources may not be as interactive as some other brokers. |
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. However, some of the educational resources may not be suitable for beginners and may require prior knowledge of forex trading. Additionally, the educational resources may not be as comprehensive or interactive as those offered by some other brokers.
You may 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. Overall, IC Markets provides a reliable and responsive customer support experience.
IC Markets is a reputable 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.
Q1. What is the minimum deposit required to open an account with IC Markets?
A1. The minimum deposit required to open an account with IC Markets is $200.
Q2. What are the available deposit and withdrawal methods on IC Markets?
A2. IC Markets offers various deposit and withdrawal methods, including neteller, skrill, bank transfer, VISA, Mastercard, paypal, credit card, debit card, unionpay, poli, wire transfer, rapidpay, and klarna.
Q3. What trading platforms are available on IC Markets?
A3. IC Markets offers three trading platforms: MetaTrader4, MetaTrader5, and cTrader.
Q4. What is the maximum leverage offered by IC Markets?
A4. IC Markets offers a maximum leverage of up to 1:500.
Q5. Does IC Markets charge any additional fees for deposits and withdrawals?
A5. IC Markets does not charge any additional fees for deposits and withdrawals. However, additional fees may occur at some banking institutions.
Q6. What educational resources are available on IC Markets?
A6. IC Markets offers various educational resources, including an economic calendar, market reports, video tutorials, glossary, blogs, and calculators.
Q7. What is the customer support available on IC Markets?
A7. IC Markets offers 24/7 customer support via phone and email, and they have an online chat feature available during trading hours.
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 oanda and ic-markets are, we first considered common fees for standard accounts. On oanda, the average spread for the EUR/USD currency pair is EURUSD/1 Gold/3 pips, while on ic-markets the spread is --.
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.
oanda is regulated by ASIC,FCA,FSA,NFA,IIROC,MAS. ic-markets is regulated by ASIC,CYSEC.
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.
oanda provides trading platform including Standard account and trading variety including Foreign exchange, precious metals, crude oil, CFD. ic-markets provides trading platform including Standard,Raw Spread,cTrader and trading variety including --.