Contents
- 1 IC Markets Basics
- 2 About IC Markets
- 3 Key Benefits
- 4 Regulation And Safety
- 5 Regulation In Kenya
- 6 Fund Safety
- 7 IC Markets: Legit Or Scam?
- 8 Trading Assets
- 9 Trading Instruments
- 10 IC Markets Account Types
- 11 Live Accounts
- 12 IC Markets Leverage
- 13 IC Markets Commission
- 14 PAMM Accounts
- 15 Demo Accounts
- 16 Islamic Swap-Free Accounts
- 17 IC Markets Registration: How To Open An Account
- 18 IC Markets Registration: How To Verify An Account
- 19 Deposits & Withdrawals
- 20 IC Markets Trading Platforms
- 21 Trading Tools
- 22 Forex Education
- 23 Extra Trading Services
- 24 IC Markets Trading Hours
- 25 IC Markets Customer Support
- 26 Our Verdict
- 27 IC Markets Forex Broker Review FAQ
- 28 Similar Brokers
IC Markets Basics
| 🏛️ Based in | Sydney, Australia |
|---|---|
| ⚖️ Regulation | ASIC, AFSL |
| 💰 Minimum Deposit | $200 |
| 💳 Deposit Options | VISA, MasterCard, Bank Wire, Skrill, PayPal, Poli, Neteller, BPAY, UnionPay, and FasaPay. |
| 💳 Withdrawal Options | VISA, MasterCard, Bank Wire, Skrill, PayPal, Poli, Neteller, BPAY, UnionPay, and FasaPay. |
| 📌Open an account | Start Trading with IC Markets |
About IC Markets
IC Markets is one of the world’s leading forex brokers. It is an ECN broker that offers great account options, excellent trading conditions, and top-notch trading technology. It has a large number of trading instruments, including currencies, commodities, indices, bonds, stocks, and cryptocurrencies. It also offers the ideal trading environment, complete with tight spreads, low commissions, and fast execution.
Key Benefits
Regulation And Safety
IC Markets is a regulated forex broker. They have a licence from ASIC which is the Australian Securities and Investment Commission. They also have licences from CySEC, the FSA (Seychelles), and the FSB. This enables them to offer online trading services in multiple countries.
Regulation In Kenya
IC Markets has a great reputation within the forex industry and is regulated by some of the top regulatory authorities in the world, including ASIC. As you can see, they hold licences in multiple jurisdictions. Traders in Kenya can open an online trading account through the FSA-based entity, which regulated by the Financial Services Authority of the Seychelles. The FSA is less strict than some of the other regulators, but it is still a well-known financial institution, and it does offer some regulatory oversight. As such, traders in Kenya can expect IC Markets to provide both a good service and a high level of client fund protection.
Fund Safety
This broker offers a high level of client fund management and client fund protection. It holds its clients’ funds in segregated trust accounts at Australian Banks, National Australia Bank (NAB) and Westpac Banking Corporation (Westpac). This means that client funds are held separately from company funds. It also means that it does not use client funds for its own business purposes.
IC Markets: Legit Or Scam?
IC Markets is a legit broker. They offer a reliable forex trading service and have been operating, under regulatory supervision, for many years. They are licensed by some of the top financial authorities in the world and have a good reputation for regulatory compliance. In terms of their services, they have good trading accounts and fair trading conditions, as well as fairly low minimum deposits. They also have a reliable payment methods and good client fund protection policies. In our opinion, they are a legit broker and a good choice for forex traders in Kenya.
Trading Assets
IC Markets provides access to 80+ financial trading instruments. You can choose between forex pairs, commodities, indices, bonds, stocks, and cryptocurrencies.
Trading Instruments
- Forex: They have 60 forex pairs including majors, minors, and exotics.
- Commodities: They have 13 commodities including metals, energies, and agricultural products.
- Stocks: They have 1,600+ stock CFDs including Apple, Alphabet, Amazon, Microsoft, and Tesla.
- Indices: They have 23 stock indices, including the NASDAQ, the S&P500, and the FTSE100.
- Bonds: They offer trading on 11 bonds.
- Cryptocurrencies: They have Bitcoin, Bitcoin Cash, Ethereum, Dash Coin, Ripple & Litecoin.
IC Markets Account Types
This broker has three main accounts types. These are the Raw Spread Account, the Raw Spread (cTrader) Account , and the Standard Account. Each account types offers slightly different trading conditions.
| Type | Spreads | Min. Deposit | Max. Leverage | Commission |
|---|---|---|---|---|
| Standard | From 0.6 pips | $200 | 1:500 | $0 |
| Raw (cTrader) | From 0.0 pips | $200 | 1:500 | $6 per lot |
| Raw (MetaTrader) | From 0.0 pips | $200 | 1:500 | $7 per lot |
Live Accounts
The IC Markets live trading accounts are great for new traders. They come with great trading platforms, great trading conditions, and great trade execution. They also come with fair, transparent pricing. For example, you can trade with either zero commissions or zero spreads, depending on which account type you choose. You only need a minimum deposit of $200, and you’re good to go!
IC Markets Leverage
They have variable leverage options ranging from 1:1 to 1:500.
IC Markets Commission
The maximum commission fee is $7 per lot on their accounts.
PAMM Accounts
As part of our IC Markets review, we checked to see if they offer PAMM accounts. Professional Kenyan traders can use a PAMM account to make trades on behalf of clients. That’s because PAMM accounts allow Kenyan traders to place orders with IC Markets’ using automated trading algorithms.
Demo Accounts
As part of our IC Markets review, we also checked to see if they offer demo accounts. A demo account lets you trade using virtual money, instead of real funds, and lets you practise your trading strategies in a zero-cost environment. As such , the IC Markets demo account is a great way to improve your trading skills and to learn more about forex trading.
Islamic Swap-Free Accounts
All of the IC Markets trading accounts have swap-free versions available.
IC Markets Registration: How To Open An Account
As part of our IC Markets review, we checked their online registration requirements. If you live in Kenya, then you are eligible to open an IC Markets trading account. The online registration process is quite easy. The first step is to visit their website and register online. This is so that IC Markets can collect a few personal details and start creating your account. They will also ask you which email address and password you would like to use. These will be your login details.
The next step is to take a quick online trading test. This is so that they can see how much you already know about forex trading and decide whether their services are suitable for you. If you pass the test, then you can proceed to the next step in the online registration process. The final step is to verify your online trading account. This is step is sometimes known as the ‘KYC’, or ‘Know Your Customer’ stage of the process. It usually involves sending them copies of documents so that they can verify your identity. It enables forex brokers to carry out their regulatory checks and ensure that they are meeting all their legal requirements. After you have completed this step, you can fund your account, set up your online trading platform, and get ready to start trading.
IC Markets Registration: How To Verify An Account
To verify your trading account you need to provide IC Markets with certain documents. This is to help them to complete their regulatory checks and confirm your identity. You will need to send them a proof of ID. This could be a copy of your passport or a copy of another form of government ID, such as your driver’s license or a national identity card. You also need to provide a proof of address. This could be a utility bill, a bank statement, or a government issued tax document.
Deposits & Withdrawals
IC Markets has several different payment options. You can deposit money using credit cards, debit cards, bank transfers, Paypal, Skrill, Neteller, Qiwi, Webmoney, and also FasaPay. You can also withdraw money using the same payment methods.
IC Markets Trading Platforms
IC Markets offers three online trading platforms – MT4, MT5, and cTrader. These platforms are free, easy to use, and available all devices.
MetaTrader4 (MT4) is one of the best online trading platforms in the forex industry, and a great choice for new forex traders in Kenya. It has a simple design and is easy to navigate. It also comes with helpful online trading tools. You can use the IC Markets MT4 platform to trade all of their instruments including forex, shares, and indices. The platform also comes with advanced charting tools, 4 order execution types, 30 technical indicators and 23 analytical objects. This means that you can easily use it to analyse the markets and manage your trades.
MetaTrader5 (MT5) is one of the most well-known trading platforms in the forex industry, and a great choice for intermediate traders in Kenya. It is newer than MetaTrader4, has a snazzier design, and comes with more features. You can use it to access the financial markets and trade any of the available trading instruments. The IC Markets MT5 platform also has a wide selection of trading tools including 6 order execution types, 38 indicators, and 37 analytical objects. This means that you can easily use to identify price trends and implement your trades.
cTrader is another popular and powerful online trading platform. It has a simple, modern layout that is easy to navigate. You can use it to get access to a wide range of CFD trading instruments including forex, metals, and stocks. The IC Markets cTrader platform also comes with 6 order types, 55 technical indicators, an economic calendar, and market sentiment tools. This means that you have everything you need to interpret price movements and make trades.
Trading Tools
This broker has a number of helpful online trading tools. For example, it offers a free economic calendar and free trading calculators. You can use these tools to read financial news, predict future price movements, and plan your trades.
Forex Education
This broker offers great educational support. It provides useful fundamental market analysis, technical market analysis, and trading data – all via one information hub. It also offers a free webinar series and free educational videos.
Extra Trading Services
In addition to world-class educational support, IC Markets also has a free Web TV service. Offered in partnership with Trading Central, this service provides you with in-depth video market commentary and useful trade ideas.
IC Markets Trading Hours
IC Markets operates during standard market hours across all financial markets. You can trade forex whenever the forex market is open. Standard hours may vary for some public holidays.
IC Markets Customer Support
IC Markets offers great customer support. Their team is very helpful and quick to respond to messages. They also speak several languages and offer online support 24/5. You can reach them via phone, email, or live chat during their working hours.
Our Verdict
IC Markets is a great forex broker. It offers excellent trading conditions and fantastic trading support. As such, IC Markets is suitable for both new and experienced forex traders.
IC Markets Forex Broker Review FAQ
Yes, IC Markets is a good broker with excellent online trading conditions. It is for investors who want to run automated trading strategies on MT4, MT5, and cTrader platforms. IC Markets provides social copy trading platforms and a growing selection of research and educational materials and offers competitive pricing. They continue to develop new products that will improve your experience as an investor – from the simple tools you need to get started trading right away to more advanced strategies that allow you to automate your trades.
If you are wondering whether IC markets is a legit broker, the answer is straightforward! IC Markets has been around for a long time. It’s been around since 2007 and is one of the most popular brokers in the industry today. It has a great reputation for being both reliable and trustworthy. In addition to this, it’s licensed by the ASIC, meaning it meets all of their minimum standards. This makes it one of the safest brokers to use when trading today!
IC Markets is a safe forex broker. IC Markets is a regulated forex broker. They are regulated by ASIC, the Australian Securities and Investment Commission, and follow all the required regulatory guidelines. The company has an Australian Financial Services Licence (AFSL) to carry on a financial services business in Australia, limited to the financial services covered by its AFSL.
Yes, IC Markets is an ECN Broker. ECN brokers are a type of broker that you can use to trade Forex and CFDs. These brokers typically offer the lowest spreads because they don’t have to deal with the full range of customer orders that traditional brokers do. They also allow Kenyan traders to place their trades directly with the broker instead of through another intermediary.
Cent accounts are for Kenyan traders who have just started their trading journey and don’t know where to start. You can usually open a cent account with as little as $1 and start trading immediately! Unfortunately, IC markets does not currently offer a cent account.
Micro accounts are for Kenyan traders who may not yet be ready for a full-fledged live account but still want some access to the markets while they learn how they work. It is a low-risk, low-cost way to get started trading. Unfortunately, IC markets does not currently offer a micro account.
IC Markets live account is a great way to start trading with IC Markets, as it provides access to all of the features of a full-blown account. The best thing about this type of account is that it gives you access to the markets, live customer support, and real-time updates.
IC Markets does not currently offer any forex bonuses. However, many forex brokers update their promotional offers on a regular basis. You can still check their website in the future to see if there is a new IC Markets No Deposit bonus, or a new IC Markets welcome bonus.
Yes, IC Markets in Kenya does have NASDAQ. The broker offers trading in all major US and global indices and markets, including the Dow Jones Industrial Average (DJIA), S&P 500, Nasdaq 100, Euro Stoxx 50, and FTSE 100.
Yes, IC Markets allows you to hedge your trades. The company offers various cross-currency trading services, including spot and forwards. You can also set up a short or long position in your chosen currency.
As part of our IC Market broker review, we checked their standard funding methods. The IC Market minimum deposits are quite low. There are several IC Markets deposit methods. You can choose from several traditional providers, such as bank transfers, debit cards, and credit cards. You can also choose from third-party payment providers such as Skrill, PayPal, Poli Neteller, BPAY, UnionPay, and FasaPay.
As part of our IC Market broker review, we also checked their Bitcoin payment options. IC Market does accept bitcoin (BTC) deposits. You can deposit funds into ICMarkets from your Bitcoin wallet or any other digital wallet that supports Bitcoin. This includes sites like Coinbase, Xapo, and BitPay. IC Market accepts deposits using Bitcoin.
IC Markets in Kenya offers its clients the opportunity to close their accounts anytime. The company’s customer service department is available 24 hours a day and seven days a week to assist you with any questions or concerns.
IC Markets is one of the best Kenyan forex brokers. They have great trading accounts with low minimum deposits and low trading costs. They also have a wide range of trading instruments, trading platforms, and trading tools. However, if you want to look at alternative options, there are many other great forex brokers as well. We suggest looking at HotForex, FXTM, and FXPro.
We hope you enjoyed our IC Markets review. If you’d like to sign up, click here to open an account.
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