Options can be extremely useful if you know how to use them. However, experience and skill in what relates to option trading are just as important as choosing the right broker. There are many reputable brokers out there, but IC Markets seems to be one of the most well-known of them. It’s considered a great choice for novice traders, but many professionals use it for trading, too. But is it so great? And is it suitable for option trading? Let’s find out.
IC Markets overview
Founded in 2007, IC Markets is an Australia-based online broker with millions of active users across the world. The broker is considered very secure and well-regulated: it’s licensed under AFSC, one of the Australian financial regulators, and complies to its strict policies regarding transparency, assets, risk management, and so on. The funds of its clients are also insured, so you shouldn’t worry about giving your money to the broker.
The trading conditions offered by IC Markets are generally considered relatively favorable. The speed of order execution is decent, and the spreads are tight. You can choose MT4, MT5, or cTrader as your trading platform, and there’s an option to trade on the go from your mobile device. The leverage goes up to 1:500 for certain assets. By the way, there are almost a hundred different trading tools to choose from including 60 Forex pairs, futures, and a variety of CFDs.
While the broker offers a rather broad variety of trading tools, there are no IC Markets options trading features at all. Unfortunately, you can’t trade options with this broker, so you’ll have to stick to another asset. For example, the broker is considered very convenient when it comes to Forex trading. The 60 pairs offered by IC Markets make sure you can find some interesting trading opportunities. The broker offers very low spreads: for example, the average spread for the EUR/USD pair is just 0.1 pips.
If you’re just a beginner in Forex trading, IC Markets features an extensive library of educational and informational materials right on the website. You can find detailed tutorials there, and if you can’t get something, feel free to contact the 24/5 customer support service. The broker charges no fees for a withdrawal, and you can choose from several payment methods and currencies. However, you need to verify your account before you can withdraw anything.