ICMarkets is an online Forex brokerage firm based in Australia and they specialize in providing Forex trading services to its members. Along with Forex trading, they also offer many CFD trading products as well. They are a global online brokerage company, but they do not all countries are currently being serviced by them.
ICMarkets system makes it easy for beginners and casual investors to make trades in Forex and CFDs online. Accounts are easy to set up and are fully accessible wherever there is mobile or Internet access.
5 Things that You Should Know about ICMarkets Before Becoming a Member
- ICMarkets is a global brokerage firm – ICMarkets was founded in 2007 in Australia, but it allows people from all over the globe to set up an account and give them access to multiple Forex and CDF trading markets. However, if you are living in the US you are not able to set up an account on their trading system. Since providing detailed financial information is part of the sign up process, you are required to verify your address.
- Offers multiple trading platforms – All members have full access to account data via three powerful trading platforms; web-based, desktop, and mobile apps. ICMarkets trading system uses the powerful Meta Trader 4 trading platform technology for all three of its trading platforms. The Meta Trader 4 is an industry-standard Forex trading platform and ICMarkets offers its account holders the use of all three. The Meta Trader 4 mobile app is available for both Apple iOS users and Google’s Android users as well. For desktop users, Meta Trader 4 is fully downloadable for both Windows and Apple’s OSX operating systems. Meta Trader 4 can also be accessed as a web-based platform as well.
- Low start-up minimum and lower fees – When getting started with your trading account you only need to make a small $200 deposit. After establishing your trading account you will not be charged for several things like money deposits or withdrawals. There are no monthly account fees or no inactivity fees. There will be low fees associated with your Forex or CDF trades.
- Readily available research – Research is a very important and necessary part of investing and ICMarkets offers all of its members access to plenty of research. Each of the three trading platforms provides ready access to all of the research tools that ICMarkets and the Meta Trader 4 platform have to offer. It also includes a very powerful charting tool that helps make decisions on trades.
- Investment Educational Tools – ICMarkets offers several different types of training tools for beginner and casual investors. They have plenty of trading videos and tutorials on how to use the trading platforms and all members have full access to all of them 24/7.
Pros and Cons
Pros of using ICMarkets
- Account signup and trading activities are all online only
- Multiple trading platforms are available; desktop, mobile, and web-based
- Very low minimum deposit and lower account fees
Cons of using ICMarkets
- Limits its trading product offerings to Forex and CFDs only