IC MARKETS RATING -OVERALL SCORE {80.61%}
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IMPORTANT NOTE: IC MARKETS TRADING TERMS HAVE CHANGED SINCE THE CREATION OF THE FOLLOWING RATING
IC Markets is a competitive broker offering very tight spreads and fast execution. The broker is ideal for intraday trading, scalping, and automated trading by using Expert Advisors (EAs). FIX/API and a Free VPS are both available.
■ Deposit Requirements: 200 USD for MT4/MT5 and cTrader Accounts
■ Funding: Cards | Bank Wire | Neteller | Skrill | WebMoney
■ Platforms: MetaTrader-4 | MetaTrader-5| MultiTerminal | CTrader |cAlgo Automated | Mobile Traders
■ Customer Support: English | Spanish | Chinese | French | German | Italian | Japanese
» IC Markets Website | » IC Markets Review
ICMarkets receive one of the highest overall ratings (80.61%). The RatingFormula 5.0 gives a very good rating as concerns almost all four (4) rating factors.
IC MARKETS RATING SUMMARY
The following table contains IC Markets's rating summary based on (i) three rating aspects, (i) three experience levels, and (iii) three trading styles.
| FOREX BROKER RATING | (MAX 100%) |
|
70.9% |
|
79.5% |
|
80.4% |
|
100.0% |
|
80.61% |
| TRADING EXPERIENCE | |
|
77.5% |
|
76.6% |
|
74.9% |
| TRADING STYLE | |
|
80.3% |
|
81.8% |
|
73.1.% |
IC MARKETS DETAILED RATING REVIEW
| IC MARKETS RATING ANALYSIS | ||||
| IC MARKETS TOTAL RATING | 100.0% | |||
| 80.61% | FULL ANALYSIS | |||
| A. ICMarkets SAFETY OF FUNDS | MAX WEIGHT→ | 28.0% | 19.86% | Rating the ICMarkets Safety |
| A.1 ICMarkets License / Regulation | FCA (UK) = 10.0% | FINMA (Swiss) = 10.0% | NFA/CFTC (US) = 10.0% | BAFIN (GE) = 8.0% | ASIC (AU) = 8.0% | FSC (NZ) = 6.0% | CYSEC (Cyprus) = 6.0% | HCMC (GR) = 3.0% | FSC (BVI) = 1.0% | MiFID (EU) = +0.5% rating | 10.0% | 8.00% | ICMarkets is regulated by ASIC (No 335692) = 8.0% |
| A.2 ICMarkets Client Compensation in Case of Insolvency | Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% |
5.0% | 0.00% | ASIC regulation does not offer client compensation in case of insolvency = 0.0% rating |
| A.3 ICMarkets Country of Headquarters | UK, USA, Germany, France, Canada, Switzerland, and similar = 5.0% rating | Australia, New Zealand = 4.0% rating | Ireland, Spain, Italy, Cyrpus, and similar countries = 3.0% rating | Greece, Malta, South Africa = 2.0% rating | Offshore Countries = 0% | 5.0% | 4.00% | ICMarkets maintains headquarters in Australia = 4.0% rating |
| A.4 ICMarkets Years in the Market | 10+ Years of Operation = 5.0% rating | 5-10 Years of Operation = 4.0% rating | 2-5 Years of Operation = 2.0% rating | 0-2 Years of Operation = 0% | 5.0% | 5.00% | ICMarkets was found in 2007 (10+ years) = 5.0% |
| A.5 ICMarkets Client Account Segregation | Client bank account segregation = 2.5% rating | No = 0.0% | 2.5% | 2.50% | Segregated Accounts via National Australia Bank (NAB) and Westpac = 2.5% |
| A.6 ICMarkets Web Ratings | ForexPeaceArmy Rating = 0.5% rating | 0.5% | 0.36% | ICMarkets ForexPeaceArmy Rating is 3.6/5.0 = 0.36% rating |
| A.7 (+) IC MARKETS ADJUSTING RESULTS | ||||
| A.7.1 ICMarkets Corporate Size | 1 million Trading Accounts = +1.0% rating | 500,000+ Accounts = +0.5% rating | 250,000+ Accounts = +0.25% rating | 1.0% | 0.00% | ICMarkets handles less than 250,000 accounts = 0% Rating |
| B. IC MARKETS TRANSACTION COST | MAX WEIGHT→ | 28.0% | 22.25% | Rating the ICMarkets Transaction Cost |
| B.1 ICMarkets spread on EURUSD | <0.3 pip = 7.0% rating | <0.4 pip = 6.5% | <0.5 pip = 6.0% | <0.6 pip = 5.5% | <0.7 pip = 5.0% | <0.8 pip = 4.5% | <1.0 pip = 4.0% | <1.25 pip = 3.5% | <1.50 pip = 3.0% | <1.75 pip = 2.5% | <2.00 pip = 2.0% | <2.25 pip = 1.5% | <2.50 pip = 1.0% | <2.75 pip = 0.5% | 7.0% | 7.00% | EURUSD spread 0.1 pip = 7.0% |
| B.2 ICMarkets spread on GBPUSD | <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating | 4.5% | 4.50% | GBPUSD spread 0.3 pips = 4.5% |
| B.3 ICMarkets spread on USDJPY | <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating | 4.5% | 4.50% | USDJPY spread 0.5 pips = 4.5% |
| B.4 ICMarkets Trade Commissions | No Commissions = 7.0% rating | Commissions < $1.0 / lot = 6% rating | < $1.5 / lot = 5% rating | < $2.0 / lot = 4% rating | < $3.0 / lot = 3% rating | < $4.0 / lot = 2.0% rating | < $5.0 / lot = 1% rating | < $6.0 / lot = 0.5% rating | Higher Commissions = 0% rating | 7.0% | 0.00% | $7 / full-traded lot trading commissions (tested account types) = 0.0% rating |
| B.5 ICMarkets Overnight (SWAP) rates | Cost < $1.5 = 2.00% rating | Cost < $2.0 = 1.75% | Cost < $2.5 = 1.50% | Cost < $3.0 = 1.25% | Cost < $3.5 = 1.00% | Cost < $4.0 = 0.70% | Cost < $4.5 = 0.50% | Cost < $5.0 = 0.25% | 2.0% | 1.25% | ICMarkets rollover on a Long EURUSD trade worth 1 lot ($100,000) is -$5.1 | ICMarkets rollover on a Short EURUSD trade worth 1 lot ($100,000) is +$2.2 | Total cost in absolute value is $2.9, rating = 1.25% |
| B.6 ICMarkets Commissions on Funding | No Funding Fees = 2.0 % rating | One (1) Free Withdrawal Per Month = 1.0 % rating | Funding Fees Without Free Withdrawal = 0 % rating | 2.0% | 2.00% | ICMarkets does not charge withdrawal commissions = 2.0% rating |
| B.7 ICMarkets Inactive Fees | No Inactive Fees = 1.0 % rating | Yes Inactive Fees = 0 % rating | 1.0% | 1.00% | ICMarkets does not charge Inactive Fees = 1.0% rating |
| B.8 (+) IC MARKETS ADJUSTING RESULTS | ||||
| B.8.1 ICMarkets Execution Model | ECN Execution = +2.0 % rating | STP = +1.5 % rating | Dealing Desk = +0.0% rating | 2.0% | 2.00% | ECN Order Execution Model = +2% rating |
| C. IC MARKETS TRADING OPTIONS | MAX WEIGHT→ | 28.0% | 22.50% | Rating the ICMarkets Options for Traders |
| C.1 ICMarkets Forex Asset Index | 45+ Pairs = 8.0% rating | 40+ Pairs = 7.0% rating | 35+Pairs = 6.0% rating | 30+ Pairs = 5.0% rating | 25+ Pairs = 4.0% rating | 20+ Pairs = 3.0% rating | 15+ Pairs = 2.0% rating | 10+ Pairs = 1.0% rating | Less than 10 Pairs = 0% rating | 8.0% | 8.00% | ICMarkets Provides 56 Forex Pairs = 8.0% rating |
| C.2 ICMarkets CFDs | CFD Trading on MT4 = 2.5% rating | CFD Trading on WebTrader = 1.5% rating | No CFDs = 0.0% | 2.5% | 2.50% | ICMarkets offers CFD trading = 2.5% rating |
| C.3 ICMarkets CFDs on Futures | CFDs on Futures = 1.5 % rating | No CFDs on Futures = 0.0 % rating | 1.5% | 1.50% | ICMarkets Offers CFDs on Futures = 1.5% rating | No CFDs on Futures = 0.0% rating |
| C.4 ICMarkets Free Practice Account | Practice Account = 2.0 % rating, No = 0.0 % rating | 2.0% | 2.00% | ICMarkets Provides a free Practice account = 2.0% rating |
| C.5 ICMarkets Trading Leverage | Leverage > 100:1 = 1.0% rating | Leverage > 75:1 =0.75% rating Leverage > 50:1 = 0.5% rating | 1.0% | 1.00% | 500:1 max Trading Leverage = 1.0% rating |
| C.6 ICMarkets Bonus/Rebate Promotions | 5.0% | |||
| C.6.1 ICMarkets Welcome Bonus (%) | Welcome Bonus >50% = 5% rating | Bonus >40% = 4% rating | Bonus >30% = 3% rating | Bonus >20% = 2% rating | Bonus >10% = 1% rating | 0.00% | No Welcome Bonus = 0.0% rating | |
| C.6.2 ICMarkets Trading Rebate (%) | Trading Rebate >30% = 5% rating | Rebate >25% = 4% rating | Rebate >20% = 3% rating | Rebate >15% = 2% rating | Rebate >10% = 1% rating | Rebate >5% = 0.5% rating | 0.00% | ICMarkets Offers no trade rebates = 0% rating | |
| C.7 ICMarkets Min. Account Size | Min Account < $100 = 2.00% | Min Account < $250 = 1.50% rating | Min Account < $500 = 1.00% rating | Min Account < $1,000 = 0.50% rating | 2.0% | 1.50% | The min. deposit amount is $200 = 1.5% rating |
| C.8 ICMarkets Number of Deposit Methods | For every deposit method = 0.5% rating | max = 5 methods | 2.5% | 2.50% | ICMarkets offers 10+ deposit methods = 2.5% rating |
| C.9 ICMarkets Number of Withdrawal Methods | For every withdrawal method = 0.5% rating | max = 5 methods | 2.5% | 2.50% | ICMarkets offers 10+ withdrawal methods = 2.5% rating |
| C.10 Minimum Stop-Order Levels (in pips) | 2 pips or less = 1% rating | 3 pips or less = 0.5% rating | 4 pips or less = 0.25% rating | 1.0% | 1.00% | ICMarkets offers less than 2 pips minimum stop-out order distance = 1.00% rating |
| C.11 (+) IC MARKETS ADJUSTING RESULTS | ||||
| C.11.1 Offering more than 100 Forex Pairs | Offering more than 100 Pairs = 1.0 % rating / No = 0 % rating | 1.0% | 0.00% | 56 Forex pairs = +0% rating |
| C.11.2 Paying Interest on unused funds | Paying interest on Unused Funds = 0.50 % rating No = 0.0 % rating | 0.5% | 0.00% | No = +0% |
| C.11.3 ICMarkets Contests | Contests = 0.25 % rating | No = 0 % rating | 0.25% | 0.00% | ICMarkets offers no Competitions at the time of the Rating/Review = +0.00% rating |
| D. IC MARKETS TECHNOLOGY | MAX WEIGHT→ | 16.0% | 16.00% | Rating the ICMarkets Technological Efficiency |
| D.1 ICMarkets Trading Platforms Availability | For every Platform = 1.0% | max = three (3) platforms | 3.0% | 3.00% | ICMarkets offers more than 3 platforms (MetaTrader 4, cTrader in two versions, ZuluTrade) = 3.0% rating (max) |
| D.2 Trading-On-Charts | Offering Trading-On-Charts = 1.0 rating | No=0% | 1.0% | 1.00% | ICMarkets is offering 'Trading-On-Charts' = 1.0% rating |
| D.3 ICMarkets Slippage on Execution | Slippage < 1.00 pip = 1.0% rating | < 1.25 pip = 0.75% rating | < 1.50 pip = 0.5% rating | < 1.75 pip = 0.25% rating | 1.0% | 1.00% | ICMarkets Slippage on execution is less than 1.0 pip = 1.0% rating |
| D.4 ICMarkets Automated Trading Allowance | Automated Trading is Allowed = 2.0 % rating / No = 0 % rating | 2.0% | 2.00% | ICMarkets fully allows automated trading = 2.0% rating |
| D.5 ICMarkets MT4 Platform Availability | MT4 is Provided = 2.0 % rating / No = 0 % rating | 2.0% | 2.00% | ICMarkets offers the MT4 platform = 2.0% rating |
| D.6 ICMarkets Mobile Apps | iOs= 1% rating | Android = 1% rating | Windows Mobile is 0.5% rating | max = 2% rating points | 2.0% | 2.00% | ICMarkets offers an MT4 App for iPhone and Android = 2.0% rating |
| D.7 ICMarkets Allowing Scalping / Hedging | Yes, both are allowed = 1.0 % rating | Only Hedging / Scalping = 0.5% rating | Both are Forbidden = 0 % rating | 1.0% | 1.00% | ICMarkets allows both Scalping and Hedging = 1.0% rating |
| D.8 ICMarkets Customer Service | 24/7 Support = 1.0 % rating | 24/6 Support = 0.5 % rating | 24/5 Support = 0 % rating | email support = 1.0% rating | Phone support = 1.0 %. | Live Chat support = 1.0% | Skype support = 1.0 % | Forum support = 1% | Call-Back = 0.5 % rating | 4.0% | 3.00% | ICMarkets offers 24/5 Customer support = 0%, via eMail, Phone, Live Chat, Forum = 3.0% | Total rating is 3.0% |
| D.9 (+) IC MARKETS ADJUSTING RESULTS | ||||
| D.9.1 ICMarkets PAMM / MAM Accounts | PAMM / MAM Accounts = +0.5% rating | No = 0 % rating | 0.5% | 0.50% | ICMarkets is offering PAMM accounts = +0.5% |
| D.9.2 ICMarkets Free VPS | Free VPS = +0.5% rating | No = 0 % | 0.5% | 0.00% | ICMarkets is not providing a free VPS hosting service = +0.0% |
| D.9.3 ICMarkets API Trading | API trading = +0.5 % rating | No API = 0.0 % rating | 0.5% | 0.50% | FIX/API available = 0.5% |
| TOTAL ICMarkets RATING | 80.61% | |||
■ FOREX RATINGS: ► RoboForex Rating | ► TitanFx Rating | ► FXDD Rating | ► IC Markets | ► FxOpen | ► FP Markets | ► FBS Group | ► AXI Rating
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□ IC Markets Rating Review
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