Rating Index
Pros
Offers a variety of investment plans with different return rates.
Provides access to popular trading platforms like MetaTrader 4 and Sirix Web Trader.
Regulated by CySEC, which adds a layer of security for client funds.
Cons
High fixed spreads, which may reduce overall profitability for traders.
Limited payment methods, primarily relying on bank wire transfers.
Lack of transparency regarding company ownership and trading performance, raising trust issues.
Forex Groups broker Accounts
IC Markets Account Type
IC Markets offers various types of forex trading accounts to cater to different trading needs and styles. The main account types include:
- Standard Account
- Minimum deposit: $50
- Lot size: Standard lot (100,000 units)
- Leverage: Up to 1:1000
- Spread: Variable, starting from 1 pip
- ECN Account
- Minimum deposit: $500
- Lot size: Can trade in micro (1,000 units), mini (10,000 units), and standard lots
- Leverage: Up to 1:500
- Spread: Low spreads, starting from 0 pips (commission applies)
- cTrader Account
- Minimum deposit: $200
- Lot size: Micro, mini, and standard lots available
- Leverage: Up to 1:500
- Spread: Low spreads, starting from 0 pips (commission applies)
- Demo Account
- Minimum deposit: Virtual funds
- Allows traders to practice trading strategies without financial risk.
- Islamic Account
- Swap-free accounts available for traders who follow Islamic finance principles.
Choose the Account Type: Decide which account type suits your trading needs (Standard, ECN, cTrader, etc.).
Complete the Registration Form: Visit the IC Markets website and fill out the online registration form with your personal information.
Identity Verification: Provide identification documents, such as a passport or driver's license, and proof of address (utility bill or bank statement).
Fund Your Account: Select a payment method to deposit funds into your trading account. Accepted methods include bank transfers, credit/debit cards, and e-wallets.
Download Trading Platform: Download the trading platform of your choice (MetaTrader 4, MetaTrader 5, or cTrader) to start trading.
Start Trading: Once your account is funded and the platform is set up, you can begin trading in the forex market.
IC Markets Broker Account Opening Process
Opening an account with IC Markets involves several straightforward steps:
For more details, visit IC Markets.
Forex Groups Similar Broker Accounts
Explore broker markets account types: forex/trading accounts with demo access.