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IC Markets UK Review: Is It Suitable for Beginners?

IC Markets is one of the best brokers, especially when it comes to narrow spreads and execution speed. But the company has a lot of other benefits to offer, including high security of your funds and many available trading tools. In this article, we’re going to tell you more about the broker and explain whether it is that suitable for novice British traders.

IC Markets overview

IC Markets was found back in 2007. With its headquarters located in Sydney, Australia, the company is licensed and regulated by the Australian Securities and Investment Commission (ASIC). The broker also belongs to the AFCA, which is an authority defining major rules for the entire industry in Australia. That means no argument between you as a customer and the broker will be left unanswered, and you can always contact the regulators if something goes wrong.

IC Markets offers its clients a really wide range of available trading tools. There are about 60 currency pairs to choose from, CFDs on various assets (metals, stocks, bonds, indices, and more), and futures. All in all, you can find an instrument that works for you here. The broker is widely known for its narrow spreads (from 0 pips), which may be extremely low: for example, the average for the EURUSD pair is just 0.1 pip, a uniquely low spread level.

Trading conditions and fees

When it comes to trading conditions, IC Markets UK has much to offer. While the minimum deposit is $200, a rather large sum for many novice traders who just want to try a couple of strategies and learn how things work in general, that’s not that much, actually. The leverage goes all the way up to 1:500, which is good news for experienced traders, too. You can use MT4, MT5, or cTrader platforms, or you can just use your mobile device and check your trades right on the go.

Another great thing about IC Markets is that the broker offers you a whole lot of educational materials. You can find a glossary with trading concepts, manuals on Forex and CFD trading, and much more right there on the broker’s website. And if you don’t know how some instrument works, make sure to contact the 24/5 support service.

IC Markets doesn’t charge you any fees for deposits or withdrawals (except for international banks), but withdrawing may take up to 5 working days. High execution speed makes the broker perfect for automated trading, and there are also passive income options.

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