IC Markets is the one of the top choices for automated as well as manual traders. Our order matching engine located in the New York Equinix NY4 data centre processes over 500,000 trades per day with over two thirds of all trades coming from automated trading systems. IC Markets is one of the largest FX CFD Providers in the world by Forex volume IC Markets mission is to create the best trading experience for retail and institutional clients alike allowing traders to focus more on their trading. IC Markets caters exceptionally-well to algorithmic traders through its commission-based accounts.
Built by traders for traders IC Markets is dedicated to offering superior spreads, execution and service. IC Markets is a leading well regulated ECN broker. Click here to find out more
Overall, given the low deposit requirement for both commission-based accounts, and the small effective spreads, IC Markets keeps up with the best forex brokers for low trading costs.
IC Markets offers three account types in which trading costs vary. There is the commission-free (spread only) Standard account and two commission-based pricing (spread + commission) on the Raw Spread and cTrader accounts.
The cTrader account has about a tenth of a pip lower commission than the Raw Spread account, making both accounts similar. The main difference is the platform that can be accessed. For example, the Raw Spread account, which uses MT4 or MT5, charges $3.5 per side for every 100k units (1 standard lot) or $7.00 per round turn (RT). In contrast, on cTrader, it is $3.0 per side or $6.00 per standard RT.
IC Markets lists its average spread on the EUR/USD at 0.1 pips. After adding the commission equivalent of 0.6 pips on the cTrader account, the all-in costs would be 0.7 pips (or 0.8 on MetaTrader in the Raw Spread account), which is very competitive.
IC Markets also offers further discounts to traders that trade over 100 standard lots per month, akin to an active trader offering. Meanwhile, the commission-free standard account, with average spreads of 1.1 pips on the EUR/USD, is a less attractive option compared to the other two commission-based account types.
Feature | IC Markets |
---|---|
Minimum Deposit | $200 |
Average Spread EUR/USD – Standard | 0.62 (August 2021) |
All-in Cost EUR/USD – Active | 0.62 (August 2021) |
Active Trader or VIP Discounts | Yes |
Execution: Agency Broker | Yes |
IC Markets caters exceptionally-well to algorithmic traders thanks to its execution methods (i.e., no requotes) and by allowing orders to be placed within the spread. Both the MetaTrader and cTrader platform suites are available, and copy-trading platforms help round out its offering. Overall, IC Markets is a top contender for best MetaTrader brokers category this year.
IC Markets offers MT4 and MT5 for web and desktop. The desktop versions feature the Advanced Trading Tools package offered as an available add-on, along with plugins from AutoChartist and Trading Central. While these plugins must be installed separately, they are worth the effort to enhance the default MetaTrader experience.
The IC Markets cTrader platform offering includes both the web-based and desktop versions. The cTrader suite includes several trading applications such as cAlgo – used for automated trading – and cTrader Copy for social copy trading. Note: cTrader is not available through the broker’s European brand, IC Markets EU.
IC Markets provides the Advanced Trading Tools add-on developed by FX Blue LLP, as well as installable plugins from Trading Central and AutoChartist.
For traders that do at least 15 standard lots, the broker offers several third-party Virtual Private Servers (VPS) services to host client algorithms.
In addition to cTrader Copy and the native Signals market from MetaTrader, IC Markets also offers Myfxbook and the ZuluTrade platforms for copy trading across all its global brands.
IC Markets is one of if not the best brokers out there in terms of automated trading and value for money. In November IC Markets’ Trading Volume Surpassed $1 Trillion. The trading volume of November eclipsed the previous record set by the broker in March.
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