You Asked: What are the IC Markets account types?
Australian-based IC Markets is a fully licensed and well-respected broker that has been in operation since 2007. The broker specialises in CFDs and retail Forex trading.
IC Markets is a broker renowned for giving traders precisely what they want, something reflected by the extraordinary number of account options available. Check out our full IC Markets review for more information.
It is straightforward to open a demo account just by providing some basic contact information; there is no lengthy registration or deposit required. After that, the demo account is accessible to you for as long as you want. As well as offering valuable experience using the pre-loaded virtual balance, there is also an embedded tutorial to help with anything you do not understand.
There are very few brokers that offer this type of facility to traders. The micro account offers ‘micro-lots’ starting as low as $0.01, allowing live trading with minimal investment and risk to your capital.
The IC Markets Standard account is commission-free and available with a choice of three platforms: cTrader, MT4 or MT5 platform option. Spreads start from 1.0 pip, and 1:500 leverage is available.
ECN accounts are also available with a choice of the three platforms. This type of account is intended for slightly more experienced traders as it features exceptionally low spreads and has high leverage available but attracts a commission of $3-£3.50 payable for every $100 traded.
Swap-Free (Islamic) Account
For those of you who are required to comply with shariah law, IC Markets has developed a swap-free Islamic account option, which will fulfil any requirements for clients of this type. The account is available across all platforms and on either a Raw Spread or Standard basis. You will need to contact customer support if you require this particular type of account.
The MAM account is primarily for professional traders who run multiple accounts, or for fund managers responsible for making investments on their clients' behalf. The MAM account is only available on the MT4 platform where EA trading is permitted. Spreads, commissions and fees on this account are by negotiation with IC Markets based on monthly trading turnover figures.
Shane’s contributions to the site have proven incredibly popular, and he’s been with us since 2014. Having a background as a Money Manager for five different brokers, three of them household names, it’s clear that Shane has the substance to back up the knowledge he shares.
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