ICMarkets Review: My Honest Thoughts on Features, Fees, and Trading Experience

---

Pros and Cons

---

Trust and Safety

Trust is a big deal when picking a broker and ICMarkets delivers on that front. They’re regulated by heavyweights like CySEC, ASIC and FSA so they’re legit.

They also keep your money in separate accounts (not mixed with their own funds) and offer negative balance protection. Basically you won’t lose more than what you deposit. Knowing all this made me feel pretty safe trading with them.

---

Tradable Instruments

ICMarkets offers a lot of options which is great if you like variety:

• Forex: Over 60 currency pairs including all the popular ones like EUR/USD.
• Commodities: Gold, silver , oil and a few others.
• Indices: Big names like NASDAQ, S&P 500 and FTSE 100.
• Stocks: CFDs on big companies like Apple, Tesla and Google.
• Cryptos: Bitcoin Ethereum and a few others—not a huge selection.
• Futures and Bonds: For those who want something different.

I mainly traded forex and gold. The spreads on EUR/USD were as low as 0.0 pips sometimes which is a dream for someone like me who trades frequently.

---

Account Types

ICMarkets keeps it simple with three main account options:

1. Standard Account:
   
   • No commission.
   • Spreads are slightly higher (around 1 pip).
   • Good for beginners.
2. Raw Spread Account (MetaTrader):
   
   • Spreads as low as 0.0 pips.
   • $3.50 commission per lot per side.
   • Ideal for pros.
3. Raw Spread Account (cTrader):
   
   • Similar spreads as the MetaTrader version.
   • Slightly lower commission at $3 per lot per side.

I went with the Raw Spread Account on MetaTrader because I wanted those super-tight spreads. The commissions were reasonable and didn’t eat into my profits too much.

---

Commission and Fees

ICMarkets is pretty straightforward with their fees and that’s something I appreciate.

• Spreads:
  On the Raw Spread Account EUR/USD spreads were often 0.0 pips during peak times. On the Standard Account they were around 1 pip.
  
• Commission:
  The Raw Spread Account charges $3.50 per lot per side ($7 round trip). It’s competitive and worth it for the low spreads.
  
• Overnight Fees:
  Like most brokers they charge swaps for positions held overnight. These rates were easy to find on the platform.
  
• No Deposit or Withdrawal Fees:
  Most payment methods are free which is awesome.
  

Overall the fees were reasonable especially if you’re trading larger volumes.

---

Trading Platforms

ICMarkets gives you three great platforms to choose from:

MetaTrader 4 (MT4)

• Easy to use with solid charting tools.
• Tons of custom indicators and Expert Advisors (EAs).
• Perfect for forex trading.

MetaTrader 5 (MT5)

• Better for trading a wider variety of instruments.
• More technical indicators and timeframes.
• Improved design compared to MT4.

cTrader

• Very modern and user-friendly.
• Great for scalping with advanced order types.
• Depth of Market (DOM) feature is a nice bonus.

I tried all three but stuck with MT5 because I like trading more than just forex. The mobile app for MetaTrader worked flawlessly too which was a big plus for me since I trade on the go a lot.

---

Unique Features

Here are a few standout features I found while using ICMarkets:

1. Low-Latency Execution:
   Trades execute super-fast which is great for scalpers.
   
2. ECN Pricing Model:
   This means prices come straight from liquidity providers—no interference from a dealing desk.
   
3. Free VPS:
   If you trade a lot they’ll give you a free VPS to improve speed especially for automated trading.
   

I don’t use automated strategies much but the VPS would definitely be useful for those who do.

---

Research and Education

Here’s where ICMarkets could do better. While they have a blog and some market analysis, there’s not a ton for beginners. If you’re just starting you might need to look elsewhere for tutorials and structured courses.

That said, their daily market analysis is solid. I used it to plan my forex trades and it helped me spot some good opportunities.

---

Customer Support

ICMarkets’ customer service is good but not perfect.

• Live Chat:
  Available 24/5. I used it a few times and got fast helpful responses.
  
• Email:
  Replies came within a few hours and were pretty detailed.
  
• Phone Support:
  Only available during trading hours but it’s nice to have the option.
  

I do wish they had weekend support but other than that no complaints.

---

Account Opening

Opening an account was really easy and didn’t take long:

1. Sign Up: I filled out my details on their website.
2. Verification: Uploaded my ID and a utility bill for proof of address.
3. Account Setup: Picked my account type and base currency.

The whole thing was done in under 24 hours which was great.

---

Deposit and Withdrawals

Deposits and withdrawals were smooth with lots of options:

• Credit/Debit Cards: Instant deposits.
• E-Wallets: PayPal Skrill and Neteller worked perfectly.
• Bank Transfers: Took 1-2 days but no issues.

I made a withdrawal via PayPal and the money was in my account the same day. No fees, no delays—exactly how it should be.

---

Final Thoughts

ICMarkets is one of the best brokers I’ve used. It’s reliable, fast and offers some of the lowest trading costs out there. While they could add more for beginners and expand their crypto options, those are minor drawbacks compared to everything else they offer. If you’re serious about trading, especially forex or CFDs, ICMarkets is definitely worth a try.

---

Contact Info

• Website: https://www.icmarkets.eu/en/
• Email: [email protected]
• Phone: Check their website for local numbers.

---

FAQs