IC Markets Review 2024: Read Before You Trade | FXEmpire - FX Empire

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Identity Verification within the Client Portal

Account Types

The table below breaks down the main features of each account type.

Demo Accounts

IC Markets offers demo accounts for MetaTrader 4, MetaTrader 5, and cTrader. Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money.

The demo account features live quotes and simulates live market conditions in assets such as forex and CFDs on commodities, indices, and stocks. Once users are up to speed on a demo account, they can easily switch to a live version.

Islamic Accounts

IC Markets offers a swap-free Islamic account that adheres to the principles of Sharia law.

Leverage

One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.

The maximum leverage at the global entity of IC Markets is 1:500. This means that with an account of $1,000, you can control up to $500,000 worth of positions in the market. Leverage is often described as a 'double-edged sword' as it can hurt you as much as it helps you. Traders must remember that it can amplify both their profits and their losses.

Order Execution

IC Markets considers itself a forex provider offering the ECN pricing model, as pricing is sourced from external unrelated liquidity providers. These prices are passed on to clients with no dealing desk intervention. IC Markets does not offset every position with its liquidity providers.

Supported Countries

IC Markets takes clients from the majority of countries globally. However, clients are not accepted from the following restricted and/or sanctioned countries and states:

Abkhazia, Afghanistan, American Samoa, Angola, Bolivia, British Columbia (Canada), Burma, Cambodia, Central African Republic, Cote d'Ivoire, Chatham Island (New Zealand), Cuba, Cuba (Guantanamo Bay), Democratic Republic of Congo, Congo – Brazzaville, Congo – Kinshasa, Cook Islands, Diego Garcia, Gambia, Guam, Guinea, Guinea Bissau, Iran, Iraq, Israel, North Korea, Kyrgyzstan, Lebanon, Libya, Mali, Martinique, Mayotte, Nevis, New Caledonia, New Zealand, Niue Northern Mariana Islands, Ontario (Canada), Puerto Rico, Reunion, Saint Barthelemy Saint Martin, Saint Pierre and Miquelon, Senegal, Sierra Leone, Somalia, South Sudan, Sudan, Syrian Arab Republic, Tanzania, Tokelau, U.S. Virgin Islands, United States of America, Wake Island, Wallis and Futuna, Yemen, Zanzibar, and Zimbabwe.

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