IC Markets, an Australian-based group of brokerage companies, seems to be one of the most popular brands on the Forex market. That reputation is well-earned: the broker is reliable and convenient. It’s used by both professionals and novice traders who praise its trading conditions: relatively low fees, an impressive choice of instruments, and several kinds of accounts. But what about deposit limits? In this article, Traders Union analysts are analyze deposit requirements for all account types provided by the broker.
Founded in 2007, IC Markets is one of the leading Forex brokers now. It works in about 200 countries, and its operations are supervised by several major regulators, including ASIC and CySEC. The broker is known to employ the most advanced security measures to make sure your funds stay secure, and if anything goes wrong, you can expect to receive a compensation of up to €20,000. Make sure to read this post here to learn more about the broker and how it’s licensed.
IC Markets is widely known for its favorable trading conditions, and it is very convenient for beginners, too. It has more than 2,000 different trading instruments, including 60+ Forex pairs. You can choose a trading platform you like: cTrader, MT4, or MT5. Of course, there is also an option to trade through the mobile app that’s user-friendly and easy to learn. IC Markets features its own social trading platform: it can be used to talk with other traders, receive signals and useful insights, and engage in copy trading.
The broker is especially popular among professional traders, but there are plenty of useful features for novice traders as well. For example, you can find an extensive training program on the website that is perfect to learn how Forex trading works or understand CFDs. There is also a demo account here that can be used for practice. And when you feel like you’re ready, you can create a real account. Let’s get into the available account types and minimum deposit IC Markets requirements for each of them.
Basically, there are two account types here. Most traders start with a Standard account: it has no fees, but its spreads start from 0.6 pips. Raw Spread accounts feature low spreads (from 0.0 pips) with a $6 or $7 per lot as a commission. However, both of these account types have the same deposit limit: you need at least $200 to start trading, and that’s pretty high, according to Traders Union surveys.