IC Markets Account Opening | How to Open IC Markets Account

Pros

Cons

  • Fully-digital
  • Fast
  • Islamic account options

Not available in the USA

Introduction

IC Markets is a leading forex and CFD broker founded in Sydney in 2007. It has a number of offerings of investments like stock indices, crypto currencies, commodities, bonds, and equity markets.

Countries Available

IC Markets accepts traders from a lot of countries all over the world except clients who are residents in any of the following countries like Afghanistan, Bolivia, Guinea Bissau, Botswana, Guinea Conakry, Sierra Leone, Burma (Myanmar), Iran, Syria, North Korea, Iraq, Togo, Cambodia, Lesotho, Yemen, Côte d’Ivoire (Ivory Coast), Liberia, Zimbabwe, Cuba, Libya, Tanzania, Democratic Republic of Congo, Mali, Senegal, Angola, Niger, Former Liberian Regime of Charles Taylor, Gambia, Namibia, Antigua and Barbuda, or Kyrgyzstan.

Account Types

IC Markets offers 3 types of accounts: Raw spread (cTrader), Raw Spread, and the standard account. Each one of them has its own specifications and features as the following table shows:

IC Markets – Account comparison

 

Raw Spread

(cTrader)

Raw Spread

Standard

Demo Account

Yes

Yes

Yes

Spread

From 0.0 pips

From 0.0 pips

From 1 pips

Commissions

$3 (per USD 100k)

$3.5 (per lot per side)

$0

Min deposit

$200

$200

$200

Platforms

cTrader

MT4 / MT5

MT4 / MT5

Islamic account option

Yes

Yes

Yes

Notes:

  • IC Markets also provides a demo account with 0 fees if you want to experience the trading platform with no risk.
  • IC Markets also provides an islamic account option for clients who cannot earn or pay interest due to their religious beliefs. The swap free option is available on both our Raw Spread and Standard account types on the MT4, MT5 and cTrader platforms.
  • There’s an option to join the IC Markets affiliate partner program if you want as well.

Min Deposit

The minimum deposit for any account type is $200.

How to Open Account

You can open an IC Markets account in minutes through these steps:

  1. Write your name and email address along with your country of residence.
  2. Fill some personal information like the address and date of birth
  3. Choose your account type and the base currency you want.
  4. Fill some fields about your experience in trading.
  5. Verify your identity with your passport or ID, and a bank statement or utility bill.

IC Markets Account Opening | How to Open IC Markets Account

IC Markets – Account opening

Notes:

  • Due also to the requirements of the regulatory bodies that supervise IC Markets, it is necessary that in order to operate with your account you send them a proof that proves your identity and another proof that proves your current address :
  • Identity document : You must send a copy of your ID, your passport or driving license . It has to be an official document that clearly shows your identity and that it is valid (the document you send cannot be expired). You can scan any of these documents and send it in PDF, JPG, GIF, or take a photo with your mobile if it is more comfortable for you. In any case, the image must have good quality and be completely readable, otherwise it may give you problems to verify it.
  • Proof of address : This is to send a document that shows your current address . You will have to send a recent utility bill (not exceeding 3 months) for electricity, water, gas, landline or Internet (many brokers do not accept, for example, mobile phone bills). You can scan and send it in PDF, JPG, GIF, or take a photo with your mobile. Like the previous document, all the data must be legible and have sufficient quality.

FAQs

  1. How long does it take to verify my account?
  • It takes about 1 business day or less to verify your IC Markets account.
  1. Can I open more than one trading account?
  • Yes, you can. IC Markets allows you to open multiple accounts through your client area.
  1. Does IC Markets allow bot trading?
  • Yes, by using cAlgo which is an automated trading software that allows you to develop algorithmic trading systems.
  1. Does IC Markets give a bonus?
  • Unfortunately, IC Markets does not offer any deposit bonuses.
  1. Does IC Markets allow scalping?
  • Yes, IC Markets does allow both hedging and scalping trading strategies.
  1. Where is my money held?
  • IC Markets hold your money in segregated client trusted accounts at Westpac Banking Corporation and National Australia Bank (NAB).
  1. What happens to my funds if the bank which holds my funds goes insolvent?
  • IC Markets holds client’s money in segregated client trust accounts across multiple banks to reduce the credit risk and counterparty exposure.

 

  1. Is my credit card information safe with IC Markets?
  • IC Markets takes the matter of your personal information -including your credit card information- seriously. It has in place policies and procedures to safeguard these information.
  1. How to enable the swap-free option in my account?
  • For islamic traders, they can choose to open a swap-free account during the registration process. In case if you did not choose the islamic account option during the registration process, you can send an email to support@icmarkets.com.
  1. How do I login using the MT4 mobile platform?
  • Steps:

1. Go to ‘Settings’

2. Click on ‘Manage Accounts’ or ‘Settings’

3. Then click on the small plus sign or select ‘New Account’

4. Then select ‘Log in to an existing account’

5. Search for the broker name

6. Select the server your account was set up on

7. Enter your login credentials and password

8. Click on ‘Sign In’

  1. When will my demo account expire?
  • After 30 days.
  1. When trading forex, will you lose more than your initial deposit?
  • Both our MetaTrader 4 and cTrader platforms are set to automatically close your positions when your margin requirement reaches 100% (stop out level).
  • Please note that this process is automated and is not a guarantee that your account will not enter into a negative equity situation and you should keep a balance amount in your account above your required margin.
  1. Can I login to more than one account from the same computer?
  • Yes, you can do such a thing by using the MT4 Multi Terminal.
  1. Can I login to the same account through different devices?
  • Yes, you can login to the MetaTrader 4 platform using the same password and username through different devices.
  1. Does IC Markets accept payments from third parties?
  • No, as all deposits into your trading account must come from a bank account in your name.


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