If you want to find a truly convenient and reliable broker, you should compare different companies and platforms to choose the best one. The most important aspects to consider include fees, commissions, tradable assets, available account currencies, regulations, and so on. However, novice traders should also pay close attention to deposit limits. In this article, we with Traders Union experts are going to tell you about the most basic conditions offered by IC Markets and its deposit threshold for Standard accounts.
About IC Markets
One of the most well-known brokers in the world, IC Markets is a group of companies headquartered in Sydney, Australia. Founded in 2007, the broker now operates in 200 countries and provides access to financial markets for millions of traders. While it’s mostly known among professional traders, it is an extremely popular option for beginners as well. The broker is secure and well-regulated: its operations are monitored by several financial authorities, including CySEC and ASIC.
IC Markets is widely known for its overall favorable trading conditions (you can learn about them in the TU expert review of the broker). The broker allows you to trade an impressive variety of assets: about 60 currency pairs and all kinds of CFDs. You can use leverage rates of up to 500:1 and employ pretty much any trading strategy, including scalping and hedging. The broker is technologically advanced, so you can be sure your orders will be executed almost instantly.
The broker has several account options, including a convenient demo account that allows you to trade with virtual money without risking any real funds. It’s a great opportunity for all beginners. And when it is finally time to enter the real market, most traders will end up with a Standard account that has pretty high spreads (from 0.6 pips) but no trading commissions. But what about deposit limits? Let’s analyze the IC Markets Standard account minimum deposit threshold.
Deposit limits
When it comes to deposit limits, most brokers who want to attract beginners tend to set them very low: many brokerage platforms allow you to start trading with just $1. However, that’s not the case here: IC Markets has a relatively high minimum deposit even for Standard accounts: you need at least $200 to start using your account. However, many beginners still prefer IC Markets, according to Traders Union surveys.