IC Market Broker

IC MARKET BROKER PROS AND CONS

We have used the service to test out the broker, trying to compare every aspect; Swap, Spread, Commission, Inquiries Service, Support, Deposit and Withdrawal, and all the services of IC Markets Broker and figure out what is suitable for traders.

Pros

  • Fast deposit and withdrawal
  • A complete range of trading products
  • Fast order execution and having no requotes.

Cons

  • Withdrawals are separated into rounds, which is around 8 am every day, not immediately.
  • High minimum account deposit 200 USD
  • Customers cannot set their own passwords.
  • Deposit through Thai banks without fees but having 20-baht charges.
  • There are only 4 Thai banking channels available.High minimum account deposit 200 USD

IC MARKET BONUS

IC Market does not offer Deposit Bonus and Bonus without deposits for traders in Thailand.

IC MARKET BROKER FREE VPS

The Terms of Use for Free VPS in running XM EAs are as follows:

  • The trading volume exceeds 15 lots per month (multiple accounts within the same email).
  • If less than 15 lots are traded per month, over the period of 2 months, Free VPS will be automatically canceled

IC MARKET SPREAD AND SWAP INFORMATION

1. IC MARKET SPREAD

Our spread and swap cost calculations are already charged per 1 lot open order size of the Standard account (100,000 USD per 1 lot), so the value shown is in USD.

There are two account types available in IC Markets: Raw Spread and Standard accounts, but there are also cTrade Raw Spread accounts. In order to compare the commission-free brokerage from both types of accounts in real-time situations at different times, then averaged spread data is obtained as follows:

Currency
Standard (MT4)
Razor (MT4)
Standard (MT4)
Raw Spread (MT4)
cTrader
XAU/USD8088646160
EUR/USD12101187
USD/JPY1191187
GBP/USD161413109
USD/CHF1513141110
USD/CAD1513141110
AUD/USD14121298
NZD/USD1614141110

2. IC MARKET SWAP

The daily cost of holding a trader’s position when trading with IC Markets is charged when opening a 1 Lot Standard (100,000 Lot) order. It shows the daily cost of holding 1 Lot, Standard account size as follows:

IC-swap-standard
IC-swap-raw

Spread and Swap comparisons of all brokers can be viewed to create a trading strategy. Build your own trading advantage here.

3. IC MARKET COMMISSION

OTHER IC MARKETS INFORMATION

Founded in 2007, IC Markets Broker has developed an internationally recognized approach to Forex Broker services, a comprehensive service. In addition, the services of the IC Market broker are reliable among traders. IC Market Broker Execution is marketed and not traded against customers. IC Market is registered and has offices in different countries.

IC Markets is financially registered with the country in which its office is located, with the following information:

  • IC Market is registered with Financial Services Authority of Seychelles (FSA)
  • IC Market is registered with Australian Securities and Investments Commission or ASIC
  • IC Market is registered with Cyprus Securities and Exchange Commission or CySEC

IC MARKET ACCOUNT USAGE

Opening an IC Market Broker Account can be done through the Platform. However, there is a Support service available as well, which can be contacted through Support.

1. IC Market Forex Account Opening Documents

Documents required to open a trading account with IC Market Broker include:

  1. Identity verification documents for Thais, is either ID card or Passport.
  2. The address verification document must be the same as the address shown on the identity card, a copy of the house registration is recommended, or it could be a receipt for electricity and telephone bills.

2. IC MARKET Account Types

There are several types of IC Market Forex trading accounts, each with its own pros and cons and distinctive features, designed to allow traders to choose based on their strategy and leverage up to 1:1000.

The table shows the account types of IC Market Forex Account.

ICMarket-Raw-Spread
ICMarket-Standard

IC MARKET Support Service

We conducted a communication test with Support via chat and did an assessment according to the criteria on problem resolution, promptness of service, problem-solving intention, not just pasting a link to read then suggest, as follows:

There is a multi-step process to be able to reach to the support staff.
  • First, you need to fill in your information: name and e-mail of the contact person.
  • The next step will be a Bot asking questions with choices in English for customers to click on answering questions.
  • Talk to Support in English before forwarding to Thai Language Support.
The support team does not directly answer questions but sends a link for you to read.
  • Support staff sends a link attached for customers to read by themselves on the web page.
Support staff cannot be changed to Thai immediately.
  • Support staff are only able to answer questions in English and cannot be changed to Thai immediately.
Thai language support is available from 7:00 AM - 3:00 PM. on Monday-Friday
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  • Thai language support is available on Monday-Friday from 7:00 AM-3:00 PM. Not in service on Saturday-Sunday and public holidays.
  • contact Live Chat

“Overall, the disadvantage of the IC Market’s Support is that there are many steps before you can talk to the Support Staff in the Thai language. Sometimes the staff sends a link to read by themselves.”

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