IC Markets is a popular international broker from Australia that’s widely known for its attractive trading conditions and a broad variety of available trading instruments, including about 60 currency pairs. But you shouldn’t choose a broker without considering at least a couple of possible alternatives. They can prove to be more suitable for your goals or trading style. In this article, we explain the basic conditions of IC Markets and compare them to what its top two competitors have to offer.
IC Markets overview
Founded in 2007, IC Markets is a reputable broker operating under the license of ASIC (the Australian Securities and Investment Commission). The regulator makes the company comply with a strict code of conduct that requires total transparency of all operations involving the funds of its clients, and every now and then the broker undergoes an external audit. That means IC Markets is very secure, and you can trust them with your money without any doubts.
IC Markets is popular for its favorable trading conditions. Leverage is allowed: its ratio is set to 1:2 for the majority of assets, but it can reach 1:30 for some currency pairs. That means you can close large and profitable deals even with a modest capital: you need only $200 on your account to start trading, so the broker is suitable for novice traders as well. However, IC Markets is not perfect: there are users who claim to be dissatisfied with its reliance on CFDs and withdrawal delays.
If you’re looking for a safe and convenient broker with modest fees, you should also consider these IC Markets alternatives.
Tickmill is an online broker that’s been around since 2014. It attracts many novice traders by providing minimal spreads, a decent variety of trading tools, and a leverage ratio of 1:500 for some assets. This broker may be relatively young, but it’s regulated by FCA and considered very secure. You can find an entire library of educational e-books on its website.
eToro is another international broker that looks great from any angle. The broker is favored by novices for its low spreads, numerous tools for direct and CFD trading, and a leverage ratio of up to 1:30. But the best feature of eToro is its social trading platform for copy trading that’s very user-friendly and can prove very profitable even for people without any prior trading experience.