IC Markets Account Types

Our IC Markets account types review covers everything traders should know before opening an IC Markets trading account. For additional information on IC Markets, read our in-depth IC Markets broker review.

IC Markets Account Types Overview

Noteworthy:

• The competitiveness of the trading environment depends on the operating subsidiary the client onboards with.

IC Markets Account Types

Our IC Markets account types review introduces the available options at IC Markets. Supported account base currencies are USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.

IC Markets Account types – Key Points

1. Unlimited demo accounts

2. Competitive trading fees

3. Rebate program

4. Wide range of assets available to trade

5. Excellent trade execution and deep liquidity

IC Markets Standard Account

The IC Markets Standard account is best suited for casual traders and offers competitive commission-free spread based costs on the MT4 trading platform. The 20 cutting-edge trading tools included offer a significant upgrade to the MT4 trading environment, while the IC Social community aspect is ideal for beginners.

IC Markets Raw Spread (MT4/MT5) Account

The IC Markets Raw Spread account caters to more demanding traders. It charges a separate commission on opening a trade based on the notional volume, traders get access to the leading algorithmic trading platform considered industry leading.

IC Markets Raw Spread (cTrader) Account

IC Markets trading fees for cTrader are slightly lower than MT4, granting Forex traders a notable pricing advantage. It also includes access to the cTrader FIX API that allows traders to connect directly to market data and execute trades with their own trading solutions on the superb IC Markets trading infrastructure.

IC Markets Account Opening - Step-by-Step Points

Opening an IC Markets account is simple and can be completed via a swift online application process.

Below is a step-by-step guide on how to open your IC Markets trading account:

1. Click the “Start Trading” button on the IC Markets home page.

2. Enter your country of residence, name, desired e-mail address, and password.

3. Select your account type preference, date of birth, and address.

4. Choose your desired trading platform, standard or raw account pricing, and preferred account base currency. Finalize the account registration by selecting a security question and accepting the terms and conditions. Clicking on “Submit” completes the registration and allows the broker to verify the details you have provided.

5. Making at least the $200 IC Markets minimum deposit is the final step. IC Markets will e-mail confirmation, which includes account login details.

Noteworthy:

• The regulatory jurisdiction the client onboards with determines the competitiveness and availability of assets of the IC Markets trading environment.
• Account verification is mandatory to comply with regulatory AML/KYC requirements. Uploading a copy of their ID and one recent proof of residency document satisfies this for most traders.

Restricted countries:

• IC Markets accepts traders from most countries but lists the US, Canada, Israel, New Zealand, Iran, and North Korea as restricted countries for residents there.

IC Markets Islamic Account

The IC Markets Islamic account offers Islamic traders a halal-compliant trading account. IC Markets does not replace the absence of swap rates/financing with other fees, except for a small number of assets.

IC Markets Demo Account

The IC Markets demo accounts do not expire if traders use them, and there is no limit on how many demo accounts clients may open. The user-friendly back office allows for swift management and customization of the IC Markets demo account.

Conclusion:

• Beginners can familiarize themselves with the trading conditions and trading platforms at IC Markets using the demo option.
• Traders can test EAs, refine and try out new strategies, evaluate signal providers, and bug-fix algorithmic trading solutions.
• Beginners must consider the limitations of demo accounts, like the absence of exposure to trading psychology when real money is at stake.

IC Markets Account Verification

IC Markets account verification follows well-established industry standards. It is mandatory, and most traders will satisfy regulatory-mandated AML/KYC stipulations by sending a copy of their ID and one proof of residency document dated within the past three months.

IC Markets Safety & Security

IC Markets has regulatory oversight in four jurisdictions and maintains a spotless operational track record spanning 15+ years.

IC Markets Account Types - Pros & Cons

Traders should consider the pros and cons of the IC Markets account types before opening and funding one.

The pros of the IC Markets account types are:

• Well-trusted and secure broker
• Upgraded MT4 trading platform.
• Superb trading infrastructure
• Competitive trading fees with a volume-based rebate program
• Wide asset selection
• Unlimited and customizable demo accounts.

The cons of the IC Markets account types are:

• Competitiveness depends on the operating subsidiary.

How to Remove an IC Markets Account

Traders who wish to remove/close an IC Markets trading account should close all open positions, withdraw their funds, and contact customer support to action closing their accounts.

IC Markets Account Types Bottom Line

The IC Markets account types offer clients a competitive choice of trading platforms and superb trading infrastructure with low trading fees. The minimum deposit of $200 USD and choice of payment processors ensure widespread appeal, making IC Markets a leading global Forex and CFD broker.

FAQs

Does IC Markets offer an Islamic account?

Yes. IC Markets offers a swap-free Islamic account where only a few assets incur a fixed overnight financing cost, while most liquid assets allow Islamic traders a halal trading option.

Does IC Markets offer a bonus account?

No, IC Markets does not offer a bonus account.

Which account type is best at IC Markets?

The raw spread account offers the best trading conditions for Forex traders.

How many accounts can I have at IC Markets?

IC Markets does not list an account limit, and traders can open multiple different types via the back office.

About DailyForex.com Team

The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.

Read more articles by DailyForex.com Team