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IC Markets

IC Markets Review
Trader's rating 4
Editor's rating 3.8

Trading Accounts

 

Account type/Platform Minimum deposit Minimum trade size Maximum leverage  Typical Spread Swap-free
(MT4) Standard  $200 0.01  1:500 1.1 pips on EUR/USD Yes
(MT4) True ECN $200 0.01  1:500 0.1 pips on EUR/USD + $3.5 per standard lot per side Yes
cTrader ECN $1000 0.01  1:500 0.1 pips on EUR/USD + commission of $3.00 per standard lot per side No

 

IC Markets offers its clients a choice of three live account types, available on two different platforms. The Standard account is a commission-free one, and True ECN one provides tighter spreads, but a commission of $7 round turn applies.


Micro lots are available for trade on all account types and, of course, the broker provides free Demo accounts, which are always appreciated by inexperienced traders.


What is more, IC Markets provides swap-free service to investors of Islamic belief, who are able to open Sharia-compliant accounts.


The Company. Security of Funds


Incorporated in Sydney, Australia in 2007, IC MARKETS is a NDD broker providing trading in more than 80 instruments, including a number of currency pairs, various CFDs on indices, commodities and futures, as well as precious metals. It also offers trading in some of the most popular cryptocurrencies - Bitcoin, Litecoin, Ether, Dash and Bitcoin Cash.


The company behind the IC MARKETS brand is International Capital Markets Pty Ltd., which holds an Australian Financial Services License and is regulated by the Australian Securities and Investment Commission (ASIC).


ASIC requires licensed companies to comply with various rules and to meet certain requirements. Clients’ money is to be kept in segregated trust accounts, separated from the companies’ operating funds. As for the minimum capital requirement, forex brokers must hold at least $ 1 million in order to prove their good financial standing and to operate legitimately.


Despite the regulation and the requirements set to Australian brokers, one should be aware of the risks of trading on margin. Returns and gains are not guaranteed. ASIC, the Australian Government nor any other person guarantees any funds in your account.


We would also like to point out that unlike many EU-based brokers, Australian ones are not covered by any compensation scheme. 

 

In 2008, IC Markets got a license from the Cyprus Securities and Exchange Commission (‘CySEC’) and can now offer its services thoroughout the European Union and the EEA.


Trading Conditions


Minimum Initial Deposit
Traders are required to deposit $200 in order to open an account with IC Markets, which is an average initial amount. In comparison, Plus500 requires $100 and XM (holding, among others, also an ASIC license) demands just $5 from its clients as a start.


Average Spreads & Commissions

IC Markets offers variable spreads, the typical ones on its commission-free account amounting to 1.1, which is average. Spreads on the ECN accounts, on the other hand, are as low as 0.1 pips on EUR/USD on average, involving a commission of $6/$7 per standard lot round turn on the cTrader and MT4 respectively. So, trading costs of such account holders amount to just 07 – 0.8 pips, commission included, which is really attractive, especially considering that one can open such ECN MT4 account for just 200 bucks.


In comparison, XM also offers variable spreads starting from 0.0 pips on EUR/USD and applies commission of $5 on its Zero account, while spreads on its commission-free accounts start from 1.0 pips.


For further information, you may look up real-time spreads of 15 leading brokers here.


Maximum Leverage

Clients of IC Markets use leverage ratios up to 1:500 and such maximum leverage rate is considered high. Some jurisdictions cap leverage to significantly lower levels (i.e. 1:25 in Japan), because higher leverage involves higher risk of losses in excess of initial investments.


Most brokers usually offer leverage of up to 1:200 or 1:400, for instance global broker FXCM, also holding an ASIC license, provides leverage up to 1:400, and Plus500 – up to 1:200. Nevertheless, many brokers provide leverage ratios equal to or exceeding 1:500.


Trading Platforms


While most brokers provide just the MT4 and/or their in-house platform, IC Markets offers its customers a choice of three popular platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader. 


MT4 is the most widely used forex platform, available to the broker’s clients as Mac, iPhone/iPad and Android versions, as well as a Web Trader version. MT4 provides all the tools and resources a trader needs: a number of technical indicators, advanced charting package, wide range of Expert Advisers (EAs) and extensive back-testing environment. EAs are especially popular among experienced users, as they allow full automatization of trades, so traders may sit back, while the software does all the work.


If you are running EAs, it is vital that your platform is connected to our servers 24 hours a day. The best solution in this case is VPS and IC Markets has partnered with Commercial Network Services, NYCServers and BeeksFX VPS, to provide a customized low latency solution for their clients. The VPS seamlessly connects traders to the Equinix NY4 grid using cutting edge technology and providing excellent execution.


What is more, this broker provides Multi Account Manager MAM/PAMM options on MT4.

 

IC markets launched the MetaTrader 5 (MT5) platform in May, 2017. The MT5 sees a growing level of use recently, as MetaQuotes company tries to strengthen its presence on the market and ouphase its still more popular predecessor, the MT4.

 

In addition, IC Markets offers access to cTrader platform, which is custom-made for use in ECN environment. The IC Markets cTrader suite includes a PC, web and mobile versions, as well as automated trading software cAlgo.

Traders who are fond of automated trading are offered three more options with this broker: ZuluTrade, Myfxbook’s AutoTrade and Signal Trader's unique mirroring technology.


Institutional and high-volume traders (with minimum volume of $500 million per month) are also offered FIX API option to access market leading liquidity at affordable prices. The FIX Inside API can integrate the proprietary electronic and algorithmic client server, browser based, and mobile trading systems.


Methods of Payment


IC MARKETS offers its clients a variety of deposit/withdrawal methods: via credit/debit card, bank wire, BPAY, Neteller, Skrill, Webmoney, China UnionPay, FasaPay, PayPal and Qiwi.


What is more, this broker offers 10 flexible funding options in 10 different base currencies: AUD, USD, SGD, CHF, GBP, CAD, HKD, JPY, EUR, and NZD.


Conclusion


IC MARKETS is a reliable NDD Australian broker, offering competitive conditions for trading in a wide range of products on two platforms. To sum things up, here are the advantages and drawbacks with regards to IC MARKETS:

 

Pros  Cons
Low ECN spreads  No bonuses & rebates
Wide range of trading platforms & auto trading solutions  
ASIC-regulated   
High leverage levels available  

 

Country: Australia

Regulation: ASIC Australian Financial Services Licence Number 335692. 

FBS

FBS Review
Trader's rating 4
Editor's rating 4.4

Trading Accounts

Account type Minimum deposit Minimum trade size Maximum leverage Spreads
Cent $1 0.01 lot 1:1000 from 1 pips
Standard $100 0.01 lot 1:3000 from 0.5 pips
Zero Spread $500 0.01 lot 1:3000 0 pips + $20/lot
Micro $5 0.01 lot 1:3000 fixed, from 3 pips
ECN $1000 0.1 lot 1:500 from -1 pip + $6/lot

 

While most brokers provide several account type options, Clients of FBS are offered a choice of four. All of them offer market execution and the chance to trade in micro lots in Cent account for more precise risk management. Besides, FBS’s clients may choose between variable spreads, commission-free trading and zero spread plus commission.

 

In addition, FBS provides swap-free (Islamic) accounts as well as VIP Services. STP/ECN environment is also available with this broker.

 

Keep in mind that this broker does not provide financial services to residents of Belize, USA and Russia.

 

The Company. Security of Funds

 

Company

Country

Regulation

FBS Markets Inc.

Belize

IFSC

Tradestone Limited

Cyprus

CySEC

 

Established back in 2009, FBS is now a popular international broker which has won numerous awards. It offers its clients competitive trading conditions, wide range of trading accounts, payment methods, a choice of fixed and variable spreads, Metatrader 4 and MetaTrader 5, as well as various promotions.

 

Behind the brand is FBS Markets Inc., a company licensed and regulated by the International Financial Services Commission of Belize (IFSC).IFSC has very liberal control over forex brokers, but still, the regime in Belize is far better than those in other offshore jurisdictions.

 

In 2017 FBS, undertook an important step and got licensed in one of the most popular destinations for forex brokers – Cyprus. Its EU entity Tradestone Limited operates under the regulatory oversight of the Cyprus Securities and Exchange Commission, a.k.a. CySEC.

 

Forex brokers licensed by CySEC must comply with a number of requirements regarding capital adequacy, transaction reporting, clients’ funds segregation, AML policies, etc. Besides, all licensed entities are members of the Investor Compensation Fund, which may cover a maximum of 20,000 EUR per person in the event of broker insolvency.

 

Furthermore, under the MiFID regulations every CySEC-regulated ibroker is entitled to operate throughout the EU and the EEA.  

 

Trading Conditions

 

Minimum Initial Deposit

One may open an account with FBS with just $1 – a symbolically low initial amount. In comparison, FX Choice (which also holds a license from IFSC) requires at least $100 as a minimum for opening an account, but it offers pure STP/ECN environment.

 

Average spreads & Commissions

According to us, the best spreads of FBS are offered on the ECN account type. Spreads on ECN account start from -1 pip (negative spread) and the commission is just $6 per lot.

 

In comparison, Fx Choice offers typical spreads amounting to 0.5 pips on EUR/USD, and commission of $3.86 per lot applies. For further information, you may look up real-time spreads of 15 leading brokers here.

 

Maximum Leverage

The maximum leverage levels available with this broker are among the highest in the industry, reaching 1:3000. While this may sound attractive, especially to traders on a small budget, since it allows them to operate with significantly higher amounts, keep in mind that higher leverage involves greater risk.

We advise traders to exercise caution when using higher leverage levels.

 

Trading Platforms

 

FBS provides its clients with a choice of three trading platforms: Metatradeer 4 (MT4) and MetaTrader 5 (MT5) and mobile trading platform by FBS.  All platforms are offered as desktop, web and mobile versions.

 

MetaTrader 4 is the most popular forex trading platform. Equipped wirth a number of technical indicators, advanced charting tools, extensive back-testing environment, and a wide range of Expert Advisors (EA), it is preferred by most traders.  allowing clients to fully automate their trades. MT4 comes in desktop, and mobile versions.

 

As most MT4’s indicators and Expert Advisors (EA) are not supported on the MT5 platform, the latter is still in the shadow of its predecessor. Recently, however, a number of enhancements were made to the MetaTrader 5 and the hedging option was finally added to it and it gains popularity. What is more, Russian developer MetaQuotes announced it will no longer issue updates to the MT4 and will instead concentrate on the MT5.

More brokers using the MT5 can be viewed here.

 

Promotions

FBS runs a variety of promotions. At the time of writing this review the following bonuses are available:

 

- Welcome trade 100$ bonus

- 100% bonus for deposit;

- Cashback program, allowing traders to receive up to $7 per lot.

 

Methods of Payment

 

FBS offers its clients a wide range of payment methods: credit cards (Visa, Visa Electron, Mastercard), bank wire, Skrill, Neteller, Perfect Money, OKPAY, YuuPay, LaoForexBoard, FBS Asia Exchanger.

 

Conclusion

 

FBS appears to be a decent broker, who has operated for more than 9 years and has won many awards. It offers reasonable conditions for trading in a variety of products through different platforms. Here are, in a nutshell, the advantages and disadvantages of FBS:

 

Pros Cons
   
Variety of platforms, MT4 available  No significant disadvantages
Competitive spreads (especially on ECN accounts)  
Low minimum deposits required  
Variety of promotions  
ECN/STP environment available  

 

Headquarters:  Suite 5, Garden City Plaza, Mountain View Boulevard, BELMOPAN, Belize, C. A.

Country: Belize 

Regulated by: IFSC, CRFIN

Website: www.IdnFBS.com

Bonus:

$5 no deposit bonus!
Open an account and get $5! No deposit required! 

100% Bonus
Get 100% on all deposits

FBS deposit insurance!
With FBS you can be sure that in case you lose your deposit FBS will return it!

FBS MasterCard
Try out advantages of deposit and withdrawal anytime and anywhere with your FBS MasterCard

Super Trader Contest for real accounts
Unlimited prize fund! 30 traders get 10$ for each traded lot and super gadgets.

FBS Pro Demo Contest 
Become a real professional of Forex Market. Prize fund: $1000 each month. 

Bonus for IB 
Every IB gets real funds for every real client acquired.


iPartner
Acquire clients, get points and win super prizes from FBS!

Share your secret of success

If you increased your Bonus $5 10 times and more, share your secret of success and get $7 from FBS!

Self-rebate

Trade with FBS and receive up to $ 15 per transaction additionally!
 

Awards:
 
2015 - Best ECN/STP Forex Broker
2015 - The Best Broker Insurance & Service. Excellent of The Year. 
2014 - Best Broker in Southeast Asia (Forex Report Awards by World Finance)
2014 – Best Broker Asia Pacific (International Finance Magazine)
2014 – Best Forex Brand Asia (Global Brands Magazine) 
2013 - Best Partnership Program (Masterforex-v)
2013 - Best Trading Platform (China Finance Online) 
2013 - Best Forex Broker South-East Asia (World Finance)
2013 - Best Broker in Asian Region (Forex Expo)
2012 - Best MT4 Platform (9th China (Guangzhou) International Investment & Finance Expo)
2012 - Best Forex Broker Asia (World Finance Awards)
2012 - Fastest Growing Forex Broker Asia (Global Banking and Finance Review)
2011 - Best Mini Forex Broker (World Finance Awards)
2010 - Best Mini Forex Broker (ShowFX World)
 

 

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