IC Markets – King Of The Castle
Any devoted forex trader with a few years of trading under their belt has undoubtedly heard of IC Markets, and has most likely even traded with them at some point or another. IC Markets are regulated by Cysec, ASIC & the FSA. IC Markets are notorious for their great trading conditions and extreme low spreads. Over the years IC Markets has developed into the place to be for forex traders.
Is IC Markets Reputation As The Top Forex Broker Deserved In 2021?
In a word – yes. Not only do we believe that IC Markets is deserving of the throne, TradeProofer has the data to back it up.
Why is TradeProofer the strongest retail forex trader community in 2021? As the old saying goes, there’s power in numbers, and the numbers behind TradeProofer don’t lie. Since 2014 we’ve been the voice of authority in the forex markets, assisting proprietary trading desks, forex brokers, and retail forex traders alike to make the forex industry as transparent, competitive & fair as possible.
TradeProofer monitors over 100 Million Ticks every day that the forex markets are open, ensuring that our forex trading community is backed by accurate & reliable data. Forex traders can know that when TradeProofer checks your trade for slippage that our proprietary system has scanned over 10,000 Ticks to make an assessment of that single trade!
IC Markets Spreads
On the EURUSD IC Markets leads the industry, holding the tightest spreads throughout the trading day. Their closest competition is FP Markets.
On XAUUSD (Gold / USD) IC Markets is ultra competitive most of the trading day, with Global Prime & TMGM coming in close behind.
Honest IC Markets Forex Broker Review
IC Markets is the full package as a forex broker. They have 24/7 customer support, whereas most brokers are limited to 24/5 at best. The downside of their customer support is that wait times can be quite long (30mins) sometimes, as they have a larger client base than most brokers. The first time I put their live chat to the test a reply took over an hour to receive. Good thing they offer a scheduled call-back!
The trading experience is great – with MT4, MT5 & cTrader, traders have a couple of platforms they can choose from. All of the platforms include smart tools such as a Trading Central plugin, an AutoChartist plugin, and access to the IC Markets Analysis & education area, supporting traders of all levels to make their trading decisions.
On top of all this IC Markets have a great selection of fee-free funding methods & also have no account inactivity fees! You do pay for all these features though – IC Markets has a commission of $3.5 / side per lot, making a roundtrip cost $7. For those looking for a low cost broker read our review on Fusion Markets!