A Forex Broker may be a firm that gives exchange trading services to traders. Such a firm enables the Forex traders to possess an access to trading platforms in order that they will sell or buy foreign currencies. There are many such firms, some are operating for a few time, are well established and reputable, while some aren’t . This review covers one among the simplest of such firms by the name IC Markets- Forex Broker.
IC Markets south Africa
IC Markets are often termed together of the world’s most authentic and first ECN forex broker. it had been founded within the year 2007 in Australia and has hence grown in no time into an outsized and reputable forex broking firm. The firm has the complete mandates to work as a broking firm and is fully regulated by the Australian Securities & Investments Commission. it’s met all the strict requirements of the regulatory body including the capital standing.
To fund clients trading account the firm will hold funds in segregated-client trust accounts usually with reputable Australian banks. The funds are strictly not used for the other purpose aside from maintaining any margins needed for covering positions that are opened by customers. The firm strictly ensures that it trades during a true and ethical ECN environment with none dealing desk or illegal price manipulations. That’s what distinguishes IC Markets from other lesser forex broker firms.
IC MARKETS-FOREX TRADING PLATFORM
IC Markets offers the client variety of convenient platforms to hold out currency trading such as:
MetaTrader 4- one among the foremost popular trading platforms within the world offering the client very unique features. These include the charting function and innovated order-management tools that permits you to watch positions better and with speed.
cTrader– An innovative ECN platform built specifically for metals and forex trading. it’s powerful; user-friendly platform used on online trading with harnessed ECN speed, multi-banking liquidity, and advanced functions.
Multi Account Manager – Comes with a mixture of flexible-allocation methods that features a real-time performance reporting and commissions. it’s a neat to use interface. it’s built to speak all allocations settings directly with the firms MetaTrader 4-server
Fix API- A platform that’s best fitted to traders dealing in high volumes. It gives them an integrated-trade environment and an access to deep liquidity
Trading Servers– The firm’s two servers, the MT4, and cTrade are well located in NY4 and LD5-IBX Equinix-data centres. they’re known to be very secure and reliable.
IC MARKETS-ACCOUNT TYPES
The IC markets firms provide you with tailor-made accounts that fit your individual needs. the subsequent may be a list of a number of the accounts.
Forex Demo Accounts– The MT4 and cTrader-demo accounts are tailor-made for customer practice. they create the clients become conversant with all trading platforms in an environment that’s risk-free. The demo accounts just bear an equivalent features because the real forex trading accounts to form practice appear as if the important thing.
Commodities Trading Account- (Gold and Silver)-The firm offers the lucrative gold and silver trading for the exchange with dollars and euros i.e. XAG/USD, XAG/EUR, XAU/USD, and XAU/EUR.
Index CFD Trading-The firm offers a diversified range comprised of index CFDs to hide indices for 13 of the main markets plus Brent, gas , and WTI. The CFDs can undergo trading directly from the client’s MT4.
The brokerage gives clients 8 funding options that are flexible and in nine different major base currencies. the choices will include debit and credit cards, Skrill, eBay, Web Money, bank transfers and deposits. All funding has got to be within the following currencies i.e. USD, CHF, NZD, SGD, JPY, GBP.EUR, HKD, and AUD.
Withdrawals– The firm offers 3 flexible-withdrawal methods that include Domestic (Australia), Credit cards and wire transfers. the utmost period for processing from the request is 48 hours. you’ll download the MT4 or the trade platforms to your computer or smart mobile or alternatively use the cTrade web trader that permits you to access your account from anywhere.
Manage Your Account- ready to “> you’ll be able to manage all of your account functions including deposits, withdrawals, forex trading, demo accounts and more.
Deposits– To enable the firm offer better services, it’s recommended clients to deposit funds into the respective trading account that’s inside their secure area. The funds are held in segregated trust accounts with National Australian Bank or Westpac-Banking Corp. All electronic payments use Secure Socket Layer technology for security.
There are not any additional fees which are charged for withdrawals or deposits. The client should remember of fees which will be incurred while transacting with a number of the international banks. The firm doesn’t welcome any payments from other parties aside from the clients.
The firm offers you leverage therein in every account to a variety of 10:1 to 100:1. the primary one means for every of the $1 within the account you’ve got tradable $10. it’s both bad and good therein you’ll either make losses or gains.
PROS AND CONS OF USING IC MARKETING
The firm gives the prospect of trading in an ECN environment with no quote manipulations
- IC Markets features a wide selection of online and banking transaction tools to withdraw and deposit funds
- All transactions are processed during a timely manner and consistent with rules
- A regulated broker
- Closely cooperates with a number of the world’s largest insurance and banking institutions.
- No special programs or bonuses
- They do not have a well-developed hotline for support services
In terms of service quality and overall technical features, the firm is well before the competition. Many reviews on the firm’s operations have given it a mean A- grade rating. The minus is caused by the support factor that the corporate is currently looking into.
In terms of transparency and trust, the corporate can’t be faulted because it places tons useful in them. the very fact that it’s a trustworthy ECN broker means you’re handling a true interbank forex market partner.