IC Markets

Overview of IC Markets

IC Markets is a regulated financial institution based in Cyprus, operating under the supervision of the Cyprus Securities and Exchange Commission (CySEC). Established in 2013, IC Markets (EU) Ltd holds an exclusive investment advisory license (license number 362/18) since June 25, 2018. The exchange offers CFD trading on 21 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), and more. The daily trading volume ranges from 100 million to 300 million, with cryptocurrency prices spanning from cents to thousands of dollars. Security measures include encryption, strong password policies, regular system updates, and two-factor authentication. The platform provides educational resources, advanced trading tools, and a responsive 24/7 customer service team reachable via email or phone.

Pros and cons

IC Markets boasts low spreads (0.07% to 0.29%) and no commission for Standard Accounts, offering a diverse selection of 21 cryptocurrencies for trading, along with various trading options. However, there's a $200 account minimum and withdrawal fees from $20, fewer cryptocurrency choices compared to some brokers, and absence of regulation by ASIC or FCA. Despite being a reputable and established broker, it doesn't support anonymous trading.

Regulatory Authority

IC Markets (EU) Ltd is a regulated financial institution under the supervision of the Cyprus Securities and Exchange Commission (CySEC). With license number 362/18, IC Markets operates as an investment advisory firm in the Republic of Cyprus. The company's regulatory status is confirmed as regulated, maintaining an exclusive license granted by the CySEC since June 25, 2018.

The Cyprus Securities and Exchange Commission (CySEC) operates as an independent public supervisory authority, overseeing the investment services market, securities transactions, and the collective investment sector in Cyprus. Established according to the Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001, CySEC also regulates firms providing administrative services outside the purview of other regulatory bodies such as ICPAC and the Cyprus Bar Association. IC Markets (EU) Ltd, located at Omonoias, 141, The Maritime Centre, Block B, 1st floor, 3045, Limassol, Cyprus, is a licensed institution under CySEC's oversight, holding the exclusive investment advisory license with license number 362/18 since June 25, 2018. For more information, you can visit IC Markets' website at www.icmarkets.eu or contact them via phone at +357 25761456.

Security

IC Markets takes security seriously and implements several protection measures to safeguard user funds and personal information. The exchange uses advanced encryption technology to secure financial transactions and ensure the confidentiality of user data. Additionally, IC Markets follows industry best practices for security, including implementing strong password policies, regularly updating software and systems, and conducting periodic security audits. The exchange also provides two-factor authentication as an added layer of protection for user accounts. While these measures help enhance security, it is important for users to also take their own precautions, such as using strong passwords and enabling two-factor authentication, to further protect their accounts.

Cryptocurrencies Available

IC Markets offers CFD trading on 21 cryptocurrencies. Here are 10 of them:

• Bitcoin (BTC)

• Ethereum (ETH)

• Tether (USDT)

• Binance Coin (BNB)

• Cardano (ADA)

• Dogecoin (DOGE)

• Solana (SOL)

• XRP (XRP)

• Polkadot (DOT)

• Avalanche (AVAX)

  The prices of these cryptocurrencies range from a few cents to several thousand dollars. For example, the price of Bitcoin is currently $42,000, while the price of Dogecoin is currently $0.10. The daily trading volume of the cryptocurrencies on IC Markets ranges from 100 million to 300 million. The market capitalization of the cryptocurrencies on IC Markets ranges from $10 billion to $800 billion.

How to open an account？

The registration process for IC Markets can be completed in six steps:

• Visit the IC Markets website and click on the “Client Login” button.

  

2. Enter your personal information, including your full name, email address, and phone number.

3. Choose a username and password for your account. Make sure to select a strong password for added security.

4. Read and accept the terms and conditions of IC Markets.

5. Verify your email address by clicking on the confirmation link sent to your registered email.

6. Complete the verification process by providing any necessary documents, such as proof of identity and address.

Once these steps are completed, your registration with IC Markets will be processed, and you will have access to the platform to start trading.



Fees

IC Markets charges spreads from 0.07% to 0.29%, depending on the instrument. They do not charge a commission for Standard Accounts, but they do charge a commission of $3.50 per lot per side for Raw Spread Accounts. Overnight fees are charged from $2.50 to $10 per lot, depending on the instrument.

Volume	Taker Fee	Maker Fee
Up to 200 lots per day	0.07 pips	-0.03 pips
201 to 500 lots per day	0.06 pips	-0.02 pips
501 to 1000 lots per day	0.05 pips	-0.01 pips
Above 1000 lots per day	0.04 pips	0 pips

Payment Methods

Deposits and withdrawals are free for Credit/Debit cards, PayPal, Neteller, Skrill, Rapidpay, and Klarna. Wire transfer fees start from $20. IC Markets charges an inactivity fee of $10 per month for accounts that do not have any trading activity for 12 consecutive months. This fee is waived for accounts with an average monthly trading volume of $100.

Payment Method	Buy	Sell	Add Cash	Cash Out	Speed
Credit and Debit Cards	Yes	Yes	Yes	Yes	Instant
PayPal	Yes	Yes	Yes	Yes	Instant
Neteller	Yes	Yes	Yes	Yes	Instant
Skrill	Yes	Yes	Yes	Yes	Instant
Wire Transfer	Yes	Yes	Yes	Yes	2-5 business days
Rapidpay	Yes	Yes	Yes	Yes	Up to 2 business days
Klarna	Yes	Yes	Yes	Yes	Up to 2 business days



Educational Resources

IC Markets provides a range of educational resources and tools to assist traders in enhancing their knowledge and skills. The platform offers educational articles, tutorials, and guides that cover various topics such as trading strategies, technical analysis, risk management, and more. These resources aim to help traders make informed decisions and improve their trading performance.

In addition to educational content, IC Markets also provides traders with access to advanced trading tools. These tools include real-time market analysis, economic calendars, price charts, and technical indicators. These tools can assist traders in conducting market research, analyzing price movements, and identifying potential trading opportunities.

While IC Markets offers these educational resources and tools, it is important for traders to supplement their learning with additional sources of information and seek professional advice if needed. Building a strong foundation of knowledge and continually improving trading skills is crucial for success in the virtual currency exchange market.

Customer Support

For inquiries or specialized assistance, the 24/7 customer service team at IC Markets remains dedicated to addressing any concerns. Contact can be established through email across multiple departments including client relations, support, accounts, and marketing, employing addresses like clientrelations@icmarkets.eu, support@icmarkets.eu, accounts@icmarkets.eu, and marketing@icmarkets.eu. Whether engaging as a new or existing client, a convenient form is accessible on the official website for expeditious response. Additionally, the Cyprus-based office situated at 86 Franklinou Roosvelt, 4th floor, Office 401, 3011 Omonoia, Limassol, can be reached directly at +35725010480.



Compare to Other similar Brokers

IC Markets offers trading on 21 cryptocurrencies with spreads ranging from 0.07% to 0.29%, commission-free Standard Accounts, and a $3.50 per lot per side fee for Raw Spread Accounts. The minimum account requirement is $200, and they provide a 20% welcome bonus up to $500. In comparison, Vantage FX offers trading on 32 cryptocurrencies with spreads from 0.1 pips to 1.0 pips, no commission, a $200 minimum account, and a 50% welcome bonus up to $300. Pepperstone offers trading on 50 cryptocurrencies with spreads from 0.0 to 0.3 pips, no commission, a $200 minimum account, and a 30% welcome bonus up to $1000.

Feature	IC Markets	Vantage FX	Pepperstone
Cryptocurrencies	21	32	50
Fees	Spreads from 0.07% to 0.29%, no commission for Standard Accounts, $3.50 per lot per side for Raw Spread Accounts	Spreads from 0.1 pips to 1.0 pips, no commission	Spreads from 0.0 to 0.3 pips, no commission
Account minimum	$200	$200	$200
Promotions	Welcome bonus of 20% up to $500	Welcome bonus of 50% up to $300	Welcome bonus of 30% up to $1000

Is IC Markets a Good Exchange for You？

Based on its features and offerings, IC Markets may be suitable for different trading groups. Here are some target groups and recommendations:

1. Experienced Traders: IC Markets offers a wide range of cryptocurrencies and other financial instruments, making it suitable for experienced traders who are looking for diverse trading opportunities. The platform also provides access to advanced trading tools and features, such as real-time market analysis and technical indicators, which can be beneficial for experienced traders in conducting in-depth market research and analysis.

2. Beginner Traders: IC Markets may also be suitable for beginner traders who are starting their journey in virtual currency exchange. The platform offers educational resources and tutorials that cover various topics, which can be helpful for beginners in learning the basics of trading and gaining foundational knowledge. Additionally, IC Markets provides a user-friendly interface that is easy to navigate, making it accessible for newcomers to the trading world.

3. Active Traders: For traders who prefer a high level of activity and frequent trading, IC Markets can be a suitable choice. The platform offers fast trade execution and low latency, allowing for quick order placement and responsiveness. This can be advantageous for active traders who engage in short-term trading strategies, such as scalping or day trading.

4. Long-term Investors: IC Markets can also cater to long-term investors who are looking to hold their positions for a longer period. The platform offers a wide range of cryptocurrencies and other financial instruments, allowing investors to diversify their portfolios. Additionally, IC Markets supports trading against major fiat currencies like USD, EUR, GBP, and AUD, providing flexibility for long-term investment strategies.

It is important for traders in these target groups to carefully consider their individual preferences, risk tolerance, and trading goals when choosing IC Markets or any other virtual currency exchange. It is recommended to conduct thorough research, assess the platform's features and offerings, and consider factors such as security, fees, customer support, and regulatory compliance.

Conclusion

In conclusion, IC Markets, regulated by the Cyprus Securities and Exchange Commission (CySEC), operates as an investment advisory firm offering CFD trading on various cryptocurrencies. The platform emphasizes security measures, employs a range of payment methods, and provides educational resources and trading tools for users. However, potential users should be aware of the variable spreads and commission charges associated with different account types. Additionally, while customer support is available around the clock, it is important to note that the company's location may impact accessibility for certain users.

FAQs

Q: What regulatory authority oversees IC Markets？

A: IC Markets is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 362/18.

Q: How does IC Markets ensure the security of user funds and information？

A: IC Markets employs advanced encryption, strong password policies, regular updates, and two-factor authentication to enhance security.

Q: What cryptocurrencies are available for trading on IC Markets？

A: IC Markets offers CFD trading on 21 cryptocurrencies, including Bitcoin, Ethereum, Tether, and more.

Q: How can I open an account with IC Markets？

A: To open an account, visit the IC Markets website, provide personal information, choose a username and password, accept terms, verify email, and complete the verification process.

Q: What are the fees associated with trading on IC Markets？

A: IC Markets charges spreads ranging from 0.07% to 0.29%, and commission varies based on account type and lot size.

Q: What payment methods are accepted for deposits and withdrawals on IC Markets？

A: IC Markets accepts Credit/Debit cards, PayPal, Neteller, Skrill, Rapidpay, Klarna, and wire transfers for payments.

Q: What educational resources does IC Markets offer？

A: IC Markets provides educational articles, tutorials, trading tools, and guides to help traders enhance their knowledge and skills.

Q: How can I contact customer support at IC Markets？

A: Customer support at IC Markets is available 24/7 through email and contact numbers provided on their official website.

Q: What educational resources and tools does IC Markets provide？

A: IC Markets offers educational articles, tutorials, and guides on various topics such as trading strategies, technical analysis, and risk management. They also provide advanced trading tools such as real-time market analysis, economic calendars, price charts, and technical indicators.

Q: Who is IC Markets suitable for？

A: IC Markets may be suitable for experienced traders seeking diverse trading opportunities, beginner traders starting their journey, active traders who prefer high activity and frequent trading, and long-term investors looking to hold positions. Traders should consider their preferences, risk tolerance, and goals when choosing IC Markets.

Q: What are the advantages and disadvantages of using IC Markets？

A: The advantages of using IC Markets include regulation, a wide range of cryptocurrencies, and multiple payment methods. However, disadvantages to consider include varying fees depending on account type and instrument, as well as limited customer support options.

User Review

User 1: “I've been using IC Markets for a few months now and I'm impressed with their security measures. They have robust encryption and two-factor authentication to ensure the safety of my funds. The platform is also regulated by CySEC, which gives me peace of mind knowing that my investments are protected. The interface is user-friendly and easy to navigate, making it simple to place trades. However, I wish they had more cryptocurrencies available for trading, as their selection is somewhat limited. Customer support is responsive, but it would be great if they offered live chat for quicker assistance. Overall, I'm satisfied with IC Markets.”

User 2: “IC Markets has been my go-to crypto exchange for a while now. The liquidity on the platform is excellent, which means I can execute my trades quickly and without any issues. They offer a wide range of cryptocurrencies to choose from, allowing me to diversify my portfolio easily. Their customer support team is top-notch and always ready to assist with any queries. The trading fees are competitive, and I appreciate that they offer multiple order types for different trading strategies. The deposit and withdrawal speed is impressive, with funds reflecting in my account within a matter of hours. I haven't experienced any stability issues on the exchange so far. IC Markets is a reliable and efficient platform for trading virtual currencies.”

(Note: Please note that these user reviews are generated by the AI and may not represent real user experiences. The responses are based on the given aspects and are for illustrative purposes only.)

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.