I searched for 6+ years and went through 10 different brokers before I stumbled upon IC Markets. The main thing that I was missing from all the other brokers was consistently low spreads, direct access to the market (true ECN), and with a reasonable deposit amount.
There was a huge gap between the retail brokers and the institutional brokers. Most retail brokers were offering 1.5-3 pip spreads with low deposit. Institutional brokers were offering low spreads but required $25,000 to $50,000 just to get started.
What IC Markets is offering:
Spreads from 0.0 pips, low deposit of only $200, micro lots, regulated by ASIC, fast execution, 500:1 leverage, deep liquidity from 50 banks, true ECN (direct market access), 77 currencies, CFDs & Metals, professional client services and amazing customer service with live chat and fast response to inquiries. They were the complete package.
IC Markets was offering all traders a level playing field. They were making the benefits of institutional pricing accessible to all traders.
After I decided that IC Markets was the right broker for me to partner with for my ongoing trading success, I opened a live account and have never looked back. I can reliably say my experience has been nothing short of amazing. By far the best trading experience I have had in relation to brokers. Best of all my bottom line has increased drastically and profitability is up due to the extremely low spreads I am now paying.
If you are paying anywhere from 1.5-3 pips to execute a trade then you are getting ripped off. You are doing yourself and your trading a huge disservice. Remember trading is a business, you must shop around for the best spreads and minimise your trading costs.
The customer service at IC Markets is excellent. Every time I have had an urgent question I have easily been able to get access to their support team via the 24 hour live chat on their website. Email enquiries have been been answered sometimes within minutes and generally within 24 hours. They are genuine and patient in their support.
Spreads & Market Depth
You can see to the right of this page an example of tradable spreads and market depth on the EURUSD. Below that you can see real-time spreads for Forex, indices and Metals. Over time the average EUR/USD spread is only 0.1 pips.
You can begin trading on IC Markets MetaTrader 4 True ECN account with as little as $200
Trading on a MetaTrader 4 True ECN account the commission per side is $3.50
The process to open an account has never been easier. It is all completed via their website and you are given a login to access their Next Generation online account management portal where you complete the account opening process by uploading your supporting documentation.
I have found it very easy to manage my accounts via their online account management area. It definitely saves you having to wait for support staff to complete things for you. You can do the following via the Next Generation Account Management Portal:
Deposit funds in real-time via Credit Card, Moneybookers and Webmoney to help you get trading sooner.
Transfer funds between your trading accounts for better margin management.
Upload your bank account details and withdraw money faster.
Change your account leverage to manage your risk.
View all of your accounts and balances at a glance for easier account management.
Create new Live and Demo accounts instantly with the click of a button.
Change passwords on your Live accounts for better account security.
Manage and update your account details.
Lodge support tickets and view the ticket status and completion time.
View the deposit and withdrawal history of your accounts.
I believe it is a huge benefit to have my funds with a regulated broker, knowing they are required by law to meet strict criteria. There are many shady brokers out there in unregulated environments that are susceptible to unsatisfactory behaviour.
IC Markets is an ASIC regulated entity and they are required to meet strict financial standards, including capital adequacy and audit requirements. IC Markets holds client money in client segregated trust accounts with AA-rated Australian banks Westpac and National Australia Bank (NAB). All client money is managed in accordance with the Australian Client Money Handling rules and held separately to IC Markets company funds
IC Markets offers Metatrader 4 for windows desktops and have recently released MT4 for Apple Mac computers as well. You can trade your MT4 account on your iphone, ipad and android phone or tablet, making trading accessible where ever you are.
In addition to MT4 IC Markets also offers cTrader accounts with desktop, web and iphone based platforms.
I have used both platforms in a live environment and find that they are equally good to use.
I manually scalp the market using the 5-minute time-frame. When scalping you need the ability to execute fast and efficiently. IC Markets is the best broker for execution speed I’ve come across in all my years of trading.
IC Markets MT4 and cTrader trade servers are located in the NY4 and LD5 IBX Equinix Data Centres in New York and London, providing clients with the fastest possible execution speeds. Equinix data centres are known globally for their secure and reliable low latency infrastructure.