IC Markets
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
- Professional Specialist
- Brilliant Ideas
- Precise Execution
- 24/7 Assiatance
What We Offer
Your Very Own VPS Service
Top Takeaways for IC Markets:
- The IC Markets brand maintains regulatory status in one tier-1 jurisdiction and one tier-2 jurisdiction, making it a safe broker for forex and CFDs trading.
- Third-party research and trading tool plugins are part of the IC Markets MetaTrader platforms offering, making it our number one MetaTrader broker in 2021.
- IC Markets excels for its low-costs and scalable execution that fits perfectly for traders running algorithmic strategies (Expert Advisors) on the MetaTrader and cTrader platform suite.
Commissions and Fees
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.
Account types
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.
cTrader versus Raw Spread account
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.
Effective spreads
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.
Active traders
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.
IC Markets pricing summary
| 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 |
Platforms and Tools
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.
MetaTrader suite
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.
cTrader suite
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.
MetaTrader Tools
IC Markets provides the Advanced Trading Tools add-on developed by FX Blue LLP, as well as installable plugins from Trading Central and AutoChartist.
VPS services
For traders that do at least 15 standard lots, the broker offers several third-party Virtual Private Servers (VPS) services to host client algorithms.
Social copy trading
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.
Conclusion
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.
