IC Markets Platforms | How IC Markets Trading Platforms Work

IC Markets works on its own cTrader platform as well as the MT4 and MT5 trading platforms. In the following sections, we discuss each one of them in detail.

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.

IC Markets works on its own cTrader platform as well as the MT4 and MT5 trading platforms. In the following sections, we discuss each one of them in detail.

cTrader Platform

Pros

Cons

  • Available on Windows / Mac / Web / Android / IOS
  • Easy to use
  • Ability to social trade
  • Notifications and price alerts on Desktop and Mobile versions
  • No two-step verification method for logging in
  • No touchID login method in mobile platform

This is a customized platform for IC Markets broker that has a beautiful UI with easy navigation and Professional support 24/7.

The main cons is that it does not have a two-step verification method for login.

Languages

IC Markets is an international broker with clients in a lot of countries and available in a variety of languages like English, Arabic, Spanish, Japanese, French, and more.

User interface (UI)

The UI of the cTrader platform is simple, attractive, and beautiful. With the main information about trading shown in the home page.

IC Markets Platforms | How IC Markets Trading Platforms Work

cTrader – Mobile Version – UI

Login and Security

Unfortunately, there’s no option of two-step verification for logging in using the IC Markets Trader, and there’s no fingerprint authentication as well.

On the other hand, you can login using your social network account.

IC Markets Platforms | How IC Markets Trading Platforms Work

cTrader – Mobile Version – Login

Searching

The searching functionality in the IC Markets Trader is very fine and you can find the trading asset you want just by typing the name of it. There’s also an option to search by category if you want.

IC Markets Platforms | How IC Markets Trading Platforms Work

cTrader – Mobile Version – Search

Placing orders

There are 4 main types of orders:

  1. Market orders
  2. Limit orders
  3. Stop orders
  4. Stop Limit orders

IC Markets Platforms | How IC Markets Trading Platforms Work

cTrader – Mobile Version – Place orders

Notifications and alerts

You can set notifications and alerts on the mobile version of cTrader to notify you with market changes, price alerts, news, and trading signals.

IC Markets Platforms | How IC Markets Trading Platforms Work

cTrader – Mobile Version – Notifications

MT4 Platform

Pros

Cons

  • Available on Windows / Mac / Web / Android / IOS
  • Order confirmation
  • Customizable charts
  • Available in a number of languages
  • Easy to use
  • Ability to social trade
  • Good searching functions
  • Notifications and price alerts on Desktop and Mobile versions
  • Lacks two-step verification
  • Old desktop design
  • No price alerts in web version

Languages

MetaTrader 4 is available in a number of languages like:

MT4 Languages

Arabic

Bulgarian

Chinese

Croatian

Czech

Danish

Dutch

English

Estonian

Finnish

French

German

Greek

Hebrew

Hindi

Hungarian

Indonesian

Italian

Japanese

Korean

Latvian

Lithuanian

Malay

Mongolian

Persian

Polish

Portuguese

Romanian

Russian

Serbian

Slovak

Slovenian

Spanish

Swedish

Tajik

Thai

Traditional Chinese

Turkish

Ukrainian

Uzbek

Vietnamese

 

User interface (UI)

MT4 has a very customizable UI that you can adjust according to your needs and preferences. On the other hand, it seems hard to find some of the features inside.

IC Markets Platforms | How IC Markets Trading Platforms Work

MT4 – Mobile Version – UI

Login and Security

Unfortunately, the MT4 does not provide a two-step verification method for logging in, and it does only support a one-step login.

Searching

Searching using the MT4 platform has two different options:

  • You can search by categories and find assets.
  • You can also type the name of the asset and search for it manually.

IC Markets Platforms | How IC Markets Trading Platforms Work

MT4 – Mobile Platform – Search

Placing orders

MT4 has a simple order types which are:

  1. Market
  2. Limit
  3. Stop
  4. Trailing stop

In addition to those 4 types, there are other orders which are the time limit ‘Good ‘til time’ (GTT) and ‘Good ’til canceled’ (GTC).

There’s also an order confirmation feature in MT4.

Notifications and alerts

Unfortunately, the MT4 web trading platform does not have an option to set price alerts and notifications unlike the desktop and mobile versions.

IC Markets Platforms | How IC Markets Trading Platforms Work

MT4 – Mobile Version – Notifications Settings

Portfolio and reports

Under the ‘History’ tab, you can find your portfolio reports with a clear fee description.

IC Markets Platforms | How IC Markets Trading Platforms Work

MT4 – Mobile Version – Portfolio

MT5 Platform

 

Pros

Cons

  • User-friendly UI
  • Support +20 languages
  • Have two-step verification method
  • Price alerts
  • Not suitable for beginner traders

MT5 is a free application for traders allowing them to perform technical analysis and trading operations in the Forex and exchange markets.

Languages

MT4 does support over 20 languages including English, French, Spanish, Italian, Japanese, and Chinese.

User interface (UI)

MT5 was launched in June, 2010. It has about 1 million users worldwide. It also has a good interface which is similar to MT4 with the main functionalities available. MT5 is more suitable for advanced traders.

IC Markets Platforms | How IC Markets Trading Platforms Work

MT5 desktop version

IC Markets Platforms | How IC Markets Trading Platforms Work

MT5 – Mobile Version

Security

MT4 encrypts your trading data with all of your information from cyber attacks as well as not revealing your IP address while trading using the platform.

From a login perspective, MT4 has a two-step verification method as well to protect your account from hacks.

Research

MT5 offers financial and forex news from international agencies and provides a daily broadcast of dozens of newsletters from global events. MT5 also provides you with powerful and clear searching tools.

IC Markets Platforms | How IC Markets Trading Platforms Work

MT5 search

Placing orders

MT5 has the same order types as the MT4 platform which are:

  • Market
  • Limit
  • Stop
  • Trailing stop

In addition to these 5 order types, the MetaTrader 5 platform has two more order options which are:

  • Buy stop limit
  • Sell stop limit

Like the MT4, MT5 has ‘stop loss’ and ‘take profit’ options while trading as well.

Notifications and alerts

MT5 has instant notifications and alerts in its system to never miss an opportunity in the market.

Reports

The MT5 platform carries news reports from international news agencies and also sports an economic calendar.

3. 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:

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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