Home / Best Forex Brokers in South Africa / IC Markets Broker Review

IC Markets Broker Review

FX Scouts By Jeffrey Cammack Updated: February 16, 2020
Overall Rating
4.46 / 5
Min. DepositUSD 200
Max. Leverage30:1
Min. Spread0.1 pips
RegulatorsCySEC,ASIC
Regulator Origin CySEC ASIC
Broker TypeECN

Summary

A hugely respected ECN broker, IC Markets has invested heavily to provide traders with the lowest spreads and fastest execution speeds possible - and has seen huge success as a result. ASIC and CySEC regulated and with support for MT4, MT5 and cTrader, this broker is serious about providing the best possible trading environment for its client base. 

Headquartered in downtown Sydney, IC Markets represents the best of the Australian Forex industry; beginner traders will welcome IC Markets' simple account structure and responsive and informed customer service; the company understands customer retention involves a combination of tight spreads, cutting edge technology, fast trade execution and specialised support. 

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Beginner Friendly Excellent
Bonuses
Our Review Process

Trading Conditions

Minimum DepositUSD 200
Base currenciesAUD, USD, EUR, GBP, CAD, SGD, NZD, JPY, CHF, HKD
Number of FX Pairs60
Hedging Allowed Yes
Scalping Yes
Swap-Free Accounts Yes

Average Spreads

EUR / USD0.1
GBP / USD0.4
USD / JPY0.2

Company Details

Company nameInternational Capital Markets Pty Ltd.
Founded2007
Website Visit Website
TypeECN
RegulatorsCySEC,ASIC
Office locations Australia

Deposit & Withdrawal Methods

Supported Platforms for IC Markets

Most retail CFD accounts lose money. Your capital is at risk.

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Overall Rating 4.46 / 5 4.09 / 5 3.62 / 5
Minimum DepositUSD 200USD 100ZAR 2000
Regulation
CySEC CySEC
ASIC ASIC
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
FSCA FSCA
Broker TypeECNMarket MakerPure STP
Trading InstrumentsCommodities, Cryptocurrencies, Forex, Indicies, Equities, Bonds, FuturesCommodities, Cryptocurrencies, Forex, Indicies, Equities, ETFsCommodities, Forex
Forex Pairs6050+32
Crypto Pairs1018
Read Full Review Read Full Review
Trust Rating 5 / 5 4 / 5 3.5 / 5
Trading Conditions 4.5 / 5 4.5 / 5 3 / 5
Trading Platforms 5 / 5 4 / 5 4 / 5
Deposit & Withdrawal 4 / 5 4.5 / 5 4.5 / 5
Education & Research 3 / 5 3 / 5 4 / 5
Assets Available 4.5 / 5 4.5 / 5 3.5 / 5
Customer Service 4.5 / 5 4 / 5 3.5 / 5
% Lose with this broker N/A 71% of retail investor accounts lose money when trading CFDs with this provider N/A
Leverage30:1400:1200:1
Spread0.1 pips0.9 pips0.6 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • RAW - cTrader (Standard)
  • RAW - MetaTrader (Standard)
  • Standard - MetaTrader (Standard)
  • Islamic
  • Professional (Standard)
  • Retail (Standard)
  • Basic (Standard)
  • Premier (Professional)
  • Standard (Professional)
  • VIP (Vip)
Swap Free Yes Yes No
Trading Platforms MT4, MT5, cTrader MT4 MT4
Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, Paypal, Unionpay POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer Bank Transfer, Visa, Mastercard
Trading Commission 7 USD / lot - True ECN account Fees Included in Spread Fees Included in Spread
Clear all brokers

IC Markets

Visit Website

AvaTrade

Visit Website

Khwezi Trade

Visit Website
Overall Rating 4.46 / 5 4.09 / 5 3.62 / 5
Minimum DepositUSD 200USD 100ZAR 2000
Regulation
CySEC CySEC
ASIC ASIC
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
FSCA FSCA
Broker TypeECNMarket MakerPure STP
Trading InstrumentsCommodities, Cryptocurrencies, Forex, Indicies, Equities, Bonds, FuturesCommodities, Cryptocurrencies, Forex, Indicies, Equities, ETFsCommodities, Forex
Forex Pairs6050+32
Crypto Pairs1018
Read Full Review Read Full Review
Trust Rating 5 / 5 4 / 5 3.5 / 5
Trading Conditions 4.5 / 5 4.5 / 5 3 / 5
Trading Platforms 5 / 5 4 / 5 4 / 5
Deposit & Withdrawal 4 / 5 4.5 / 5 4.5 / 5
Education & Research 3 / 5 3 / 5 4 / 5
Assets Available 4.5 / 5 4.5 / 5 3.5 / 5
Customer Service 4.5 / 5 4 / 5 3.5 / 5
% Lose with this broker N/A 71% of retail investor accounts lose money when trading CFDs with this provider N/A
Leverage30:1400:1200:1
Spread0.1 pips0.9 pips0.6 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • RAW - cTrader (Standard)
  • RAW - MetaTrader (Standard)
  • Standard - MetaTrader (Standard)
  • Islamic
  • Professional (Standard)
  • Retail (Standard)
  • Basic (Standard)
  • Premier (Professional)
  • Standard (Professional)
  • VIP (Vip)
Swap Free Yes Yes No
Trading Platforms MT4, MT5, cTrader MT4 MT4
Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, Paypal, Unionpay POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer Bank Transfer, Visa, Mastercard
Trading Commission 7 USD / lot - True ECN account Fees Included in Spread Fees Included in Spread

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Most retail CFD accounts lose money. Your capital is at risk.

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