When you’re choosing a broker, there are many aspects you should consider: tradable assets, spread levels, account types, leverage rates, bonuses, and so on. Novice traders are often interested in some educational materials, bonuses, and copy trading options as well. However, one of the most important aspects of trading conditions for just about anyone is fee structure. In this Traders Union article, we’re going to reveal what our experts have found about the fee structure offered by IC Markets.
One of the largest brokers in the world, IC Markets is an international brokerage service from Sydney, Australia. Founded in 2007, this group of companies now operates across 200 countries in all parts of the world, but it’s especially popular in Europe and Asia. The broker is widely known to be secure and heavily regulated: its operations are monitored by ASIC, CySEC, and SFSA (the Seychelles Financial Services Authority), and each registered trader is insured with up to €20,000 coverage.
The broker is extremely popular among both beginners and professional traders (like actual users told Traders Union experts), and it’s not surprising: the broker offers low spreads, quick order execution, a wide variety of educational materials, and a demo account for practice. The leverage goes up to 500:1 and allows you to make the most of your deposit. However, the minimum deposit here is $200, and it’s a relatively high entry threshold for most novice traders.
IC Markets is also widely known as a broker with relatively low fees, and that’s usually listed as one of its main advantages. But is that true? To find out, our experts have analyzed the IC Markets fees, and we’re going to present the main results right now.
The experts have checked whether the broker has any trading or non-trading fees. IC Markets doesn’t seem to have any non-trading fees, but there is one exception: you’ll be charged 20 AUD in case you want to withdraw money from your account via an international bank. Any other withdrawals are free, according to Traders Union analysis results.
Trading fees charged by IC Markets depend on the account type you are using. Traders with Standard accounts pay no commissions, but spreads start from 0.6 pips here. Raw Spread accounts have quite low spreads (starting from 0.0 pips), but you have to pay a commission: $6 (for cTrader) or $7 per lot.