It’s known that ASIC or the Australian Securities and Investments Commission is the world’s strictest licensing financial body that regulates IC Markets, hence giving relief to traders as they work on their trades. If you want to know the trading platforms that will help you, check the IC Markets review to know what fits your plan to improve your trading career.
Below are some of the reasons why Forex IC Markets is the fastest growing company in Australia:
1. No need for withdrawal and inactivity fee
Other than IC Markets’ low deposit fees, it doesn’t ask for an inactivity fee. This pertains to the amount charged to investors who haven’t sold any items in a particular time and haven’t done any purchases.
Moreover, to provide a more cost-effective and dependable option for traders who are careful with their money, the Australian platform doesn’t ask for a withdrawal fee. This means that traders can retrieve some of their funds from their account.
2. Provides demo accounts
You can think of a demo account as a simulation that replicates the movement of the Forex market where traders can know what it’s like to get into the program as they practice different trading strategies. There may be a lot of trading platforms out there but there are a few who exclusively offer demo and trial accounts.
Here are the reasons why a demo account is helpful for you:
- Gives opportunity to anyone to try their platform without making a risk of investing.
- Assists you to arrive at a decision if you should trade or register in IC Markets.
- Caters to beginners who are just starting off their trading career by allowing them to experience the platform.
- Caters to those who plan to adopt different strategies by allowing them to experience putting their strategies to the test.
Getting a platform with a demo account is beneficial for both the newbie and expert traders as they can learn and get a feel of what’s it like to be rich without risking money.
3. Extends support for different languages
Since Forex trading is expanding all over the world, surely there are non-English-speaking traders who need to understand the conditions, and it’s best for them to grasp it in their own language without an interpreter. All the more, the IC Markets is available for foreigners because of its versatility.
The site offers essential information for the following languages as of 2019:
This is great news if you speak the languages indicated above since the platform can assist and entertain your inquiries. You’d be happy to inquire without the trouble of language barriers. This makes the site readily available, exercising versatile platforms for multilingual people because it seeks to provide opportunities for foreign traders.
4. Puts up live chat support
This feature allows you to express inquiries, questions, and concerns that you might have before starting an account, or when you’re already dealing with a trading platform. It’s an opportunity for you to ask the company if you want to learn more about how the process works, which is why it has a website that provides a live chat platform that allows visitors to speak with a representative.
Having live chat support allows the clients to feel secure, cared for, and to ensure that they get the best customer experience.
5. Only allows experienced traders to participate
IC Markets prioritizes experienced traders rather than beginners for a more holistic movement. There are many trading platforms for beginners but since IC Markets is the largest, it’s understood that it caters to those with experience. Still, if you happen to be interested in opening an account with IC Markets, you should take note of the items for submission:
- Prepare 200 USD as minimum deposit fee or an equivalent.
- Secure a scanned copy of your national ID, passport, or driver’s license, and make sure that they’re in color.
- Get a copy of a bank statement or utility bill within the past three months, and the name of your address should be written there.
- Lastly, be reminded that you will be asked to answer a few questions to check on how much trading experience you have, which is essential before you can make any trades.
In the end, IC Markets is still regarded as one of the best ECN brokers due to the fact that it uses electronic communication networks to connect traders to various participants of the market.
It may have limited assets but IC Markets still takes the lead because it’s known as one of the most reliable tools since it’s being regulated by the ASIC. Moreover, it’s essential for the group that every new client should pass a few basic requirements to make sure that they understand the opportunities and different risks when it comes to trading.
6. Focusing on particular assets for mastery instead of portfolio expansion
Known for having a great foreign exchange platform, the IC Markets platform doesn’t prioritize portfolio expansion. But this is good news if you are more inclined to versatility rather than expansion since you have the advantage of trading smoothly on their platform.
The following are the trades that IC Markets do not offer as of 2019:
- Exchange-traded funds or ETFs
- Initial Public Offerings or IPOs
- Penny stocks
- United Kingdom Stocks
- United States Stocks
If you are considering other options, take into account that they regulate these trading platforms above. Although IC Markets may not be for those who are expecting the expansion of trading instruments, it may be a disadvantage, provided that there’s less versatility if they interact with older platforms from other companies.
With everything tackled, it’s guaranteed that IC Markets still prevails as one of the most dependable ECN brokers in the market because they have a commitment to customer service and, most importantly, security. If some traders want to deal with IPS, cryptocurrencies, and stocks on the side, they should look for other platforms who allow dealing with multiple assets.
There might be a number of platforms out on the internet but you should consider your options with an open mind by looking into reviews on reliable sources, write down other assets you are attracted to other than Forex, and try visiting other company sites. Remember that investments take time and it’s important to be patient to have fulfillment in the end.