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IC Markets Review 2020

Summary

Recommended for forex traders who value easy account opening and free deposit/withdrawal options

IC Markets is an Australian forex broker that was founded in 2007. The company is considered safe because it is regulated by the top-tier Australian Securities and Investments Commission (ASIC).

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

IC Markets pros and cons

IC Markets has low forex fees. It has also an easy and fast account opening process, while depositing and withdrawals are free and user-friendly as well.

IC Markets does not provide any investor or negative balance protection. It has a limited product portfolio, offering only forex, some CFDs, and crypto.

Pros Cons
• Low forex fees • No investor protection
• Easy and fast account opening • No negative balance protection
• Free deposit and withdrawal • Only forex, CFD and crypto trading
IC Markets main features and highlights
��️ Country of regulation Australia
�� Trading fees class Low
�� Inactivity fee charged No
�� Withdrawal fee amount $0
�� Minimum deposit $200
�� Time to open an account 1 day
�� Deposit with credit card Available
�� Depositing with electronic wallet Available
�� Number of base currencies supported 10
�� Demo account provided Yes
��️ Products offered Forex, CFD, Crypto

Gergely Korpos

Author of this review

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

IC Markets review
Fees

IC Markets has low trading and non-trading fees. There is no inactivity or withdrawal fee. On the negative side, financing rates for CFDs are high.

Pros Cons
• Low trading fees • High financing rate for CFDs
• Low non-trading fees
• Low forex fees
IC Markets fees snapshot
Assets Fee level Fee terms
EURUSD Low MetaTrader 4 Raw account pricing: $3.5 per lot
GBPUSD Low MetaTrader 4 Raw account pricing: $3.5 per lot
S&P 500 CFD Low The fees are built into spread, 0.6 is the average spread cost.
Inactivity fee Low No inactivity fee

We ranked IC Markets’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

  • Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
  • Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below you will find the most relevant fees of IC Markets for each asset class. For example, in the case of forex and stock index trading spreads, commissions and financing rates are the most important fees.

We also compared IC Markets’s fees with those of two similar brokers we selected, Pepperstone and Fusion Markets. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of IC Markets alternatives.

To have a clear overview of IC Markets, let’s start with the trading fees.

IC Markets trading fees

IC Markets trading fees are low. There are different cost structures for different account types. We tested the True ECN cTrader account, which charges a commission but offers tight spreads.

We know it’s hard to compare trading fees for forex brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We have chosen popular instruments in each asset class usually provided by the forex brokers:

  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP
  • Stock index CFDs: SPX and EUSTX50

A typical trade means buying a leveraged product, holding it for one week and then selling. For the volume, we chose a $20,000 position for forex and a $2,000 position for stock index and stock CFD transactions. The leverage we used was:

  • 30:1 for forex
  • 20:1 for stock index CFDs

This catch-all benchmark fee includes spreads, commissions and financing costs for all brokers. Let’s see the verdict for IC Markets fees.

Forex fees

IC Markets forex fees are generally low, but in line with its main competitors.

Forex benchmark fees of a $20,000 30:1 long position held for one week

IC Markets Pepperstone Fusion Markets
EURUSD benchmark fee $15.8 $14.9 $12.8
GBPUSD benchmark fee $12.1 $12.5 $9.4
AUDUSD benchmark fee $10.6 $11.9 $7.4
EURCHF benchmark fee $4.8 $3.7 $2.0
EURGBP benchmark fee $9.9 $10.6 $7.0

CFD fees

IC Markets has generally low CFD fees.

CFD fees for a $2,000 long position held for one week

IC Markets Pepperstone Fusion Markets
S&P 500 CFD benchmark fee $2.5 $1.7 $1.7
Europe 50 CFD benchmark fee $1.9 $1.6 $2.2

The fees of stock index CFDs are built into spreads.

On the negative side, the financing rates are high.

IC markets annual financing rates

IC Markets Pepperstone Fusion Markets
S&P 500 CFD financing rate 5.8% 3.9% 4.0%
Europe 50 CFD financing rate 2.7% 2.0% 3.4%

Non-trading fees

IC Markets has low non-trading fees. There are no inactivity, account or withdrawal fees, similar to its main competitors.

Trusted IC Markets Review 2020

Table of Contents

Review: Regulation: Spreads: Assets: Min. Deposit:
(5 / 5) ASIC 0.0 Pips 232+ 200$

Is IC Markets a serious Forex and CFD Broker or not? – With more than 7 years of experience in the financial markets, we tested the company for you with real money. Read our experiences and get a detailed overview of the conditions, advantages, and disadvantages for traders. Is it really wise to invest money with this broker? – Inform yourself now.

Official website of IC Markets

What is IC Markets? – The company presented

IC Markets is an Australian ECN broker which accepts international clients. The address of the broker is International Capital Markets Pty Ltd, Level 6 309 Kent Street, Sydney NSW, 2000 AUSTRALIA. Founded in 2007, the company has a proven track record so far. The secret of the broker is that it provides true ECN market access and has very favorable trading fees for the best technology in trading.

Safety is a top priority at IC Markets. Customer balances are managed separately from company funds at the Australian National Bank (NAB). In addition, the broker has the largest liquidity providers involved, which shows a high degree of seriousness. Therefore, there is a fast execution of orders and no requotes. High liquidity for traders is provided by IC Markets.

Facts about the company:

  • Australien Forex ECN Broker founded in 2007
  • Direct market access through large liquidity providers (Goldman Sachs, HSBC and more)
  • One of the first real ECN brokers
  • The best conditions and cheap trading fees
  • Specialized for Forex Trading
  • Fast order execution and no requotes

Is IC Markets regulated? – Regulation and safety for Traders

Regulation by an official authority is very important for online trading. A license gives the broker a trustworthy relationship with the customer. To obtain such a license, IC Markets must comply with certain rules and requirements. Violating these requirements would mean an immediate loss of the license. Therefore fraud on the customer can be excluded here.

IC Markets is regulated by the ASIC. It is an independent institution of the state government agency. Customer money transactions are conducted by National Australia Bank (NAB) and Westpac Banking Corporation (Westpac). These are both top international banks that have high liquidity. In addition, IC Markets uses external and independent auditors who control the broker.

The broker makes a very serious impression on us and we can assume that this is not a scam:

  • Regulation by the ASIC
  • Separate accounts at major banks
  • The external auditor of the broker

IC Markets and the ESMA regulations

In 2020, the leverage on derivative financial products Forex and CFDs in Europe was extremely limited. European brokers can only offer a maximum leverage of 1:30 to customers. This is meant to protect private investors, but ultimately destroys various strategies and opportunities for traders. It is not possible to prevent traders from losing money on the stock market because you always take a risk. Even with small leverage, European traders will lose money.

IC Markets is located outside the European Economic Area and is not affected by this regulation. Traders continue to hold leverage of 1: 500 on this broker.

Big advantage: It is a real ECN Broker

IC Markets is actually one of the few True ECN brokers. The company also gives private traders access to institutional trading via ECN / STP access. IC Markets only earns money at the commission per order execution or spread (STP) and a conflict of interest is 100% excluded! The website also directly recognizes the broker’s liquidity providers. These include major international banks, which provide direct access to the interbank market.

A monthly volume report can also be viewed transparently on the homepage. More than $ 600 billion was transacted in 2020 in a single month.

Real ECN Broker IC Markets

The offer and conditions for traders

IC Markets offers to trade in forex (currencies), CFDs (bonds, indices, commodities, cryptocurrencies) and futures. There are more than 232 different assets available. The conditions are very good from my experience and test. In comparison, you can rarely find cheaper and safer brokers.

The spreads start at 0.0 pips and the commission is $ 3 per trade $ 100,000 in CTrader. In the Metatrader, the commission has been increased by 50 cents to $ 3.50. A change to this broker is worthwhile even because of the low fees for trading.

IC Markets sample spreads

The execution in the live account works in real-time. With the data center in New York and London (financial centers of the world), you get an unrivaled fast execution. If that’s not enough, you can hire a VPS server for even faster access.

Since IC Markets is a true ECN broker, price manipulation is excluded. In addition, there are no requotes and your position will always be executed at the next best price. There are no hidden fees for traders. The real “raw spreads” are offered. In addition, the broker is supplied by various liquidity providers. This means that there is always sufficient liquidity available (even for high trading volumes).

Conditions for traders:

  • ECN spreads from 0.0 pips
  • Leverage of up to 1: 500
  • Over 232 assets for trading
  • Trading already from 0.01 Microlot

In summary, trader terms are outstanding with this broker. If you are looking for a good forex provider, you should switch now. However, there are no shares in IC Markets to trade, which is why you have to make small cuts.

The Trading Plattform of IC Markets

IC Markets offers the well-known trading platform MetaTrader 4/5 and the cTrader. The MetaTrader is available for the computer, smartphone, and tablet. The software can also be started from the browser. The cTrader is available for the browser and mobile devices.

The trading platforms are evidence of high security and have been in use for many years. The MetaTrader is the world’s most popular trading platform for private traders. You can make any settings yourself and create your own strategies. The MetaTrader works flawlessly and gives you direct access to the markets.

Metatrader 5 is one of the best trading platforms

Charting and Analysis

The trading platform MetaTrader offers a huge range of analysis and charting material. Choose between different chart types and configure them as you want. Indicators and technical drawing tools are for free.

More than 50 different indicators are available on the platform. For advanced traders, there is the possibility to insert extern indicators which you can download on the internet. Each indicator is personal customizable. There are a lot of functions which we cannot mention here all. In addition, technical drawing tools are available for doing technical analysis.

Facts about the trading platform:

  • Available for any device
  • Free indicators
  • Free technical tools
  • Configure your own strategies
  • Customizable and user-friendly
  • Automatic trading and robots

Automatic Trading

The terms of IC Markets are also perfect for automated trading! The company itself states that more than 60% of the trades delivered each day are from automated systems. The data center is located in New York and with a VPS server you have the best access to the markets. This allows you to get the best prices in the market and open and close trades in less than a second.

Furthermore, the broker is characterized by low latency. The average execution speed is less than 40 milliseconds. From our experience, there is also virtually no slippage (even with positions with more than 10 lots).

Account types at IC Markets

We get a lot of requests because of the account types at IC Markets. Generally, there are 2 different accounts. The ECN and STP (Standard) account. There is only one difference in the billing of fees. With the ECN account you get the real spreads directly from the market, but pay about $ 3.5 commission per traded 1 lot. There is no commission for the STP (Standard) account, but there is an additional spread (from 1.0 pips).

In summary, you will pay less with the True ECN account. The difference is minimal, but you should not neglect it. Again, the preferences of a trader apply.

There are only 2 different account types:

  • True ECN account with $ 3.5 commission and from 0.0 pip spread
  • STP (Standard) account with 0 $ commission and from 1.0 pip spread

Open your free account:

Opening an account with IC Markets is very easy. Just fill out the form and start trading. First of all, you have to insert your real name and phone number. Then the broker will ask you for additional information about your identity. Through the regulation of the ASIC, the Forex Broker has to verify your identity and account before you can start trading real money. But from my experience, it is an easy process to verify the account. We recommend doing this as fast as possible to get access to all functions of the platform.

Very fast account opening

The free Demo Account of IC Markets

IC Markets offers an unlimited and free demo account for traders. In the personal area, you can open different demo accounts for your purpose. The demo account is an account with virtual money. It simulates the trading with real money 1:1 and we recommend to use it before you start with real money. In addition, the demo account is the best way to practice new strategies and markets.

First of all, you should try out the broker with the free demo account.

The withdrawal and deposit at IC Markets

The payout and deposit at IC Markets work smoothly. The broker offers a total of 15 methods to capitalize on the account. The broker is surprised that he even offers Bitcoin and PayPal as payment methods.

Deposits are well written in real time depending on the method. My payouts have always been confirmed and executed within 24 hours. Make sure your account is fully verified.

There are no fees or hidden costs. On deposits and withdrawals, the broker requires no fees. However, a bank transfer can be costly if your bank charges you for international transfers. The trading account is available in AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, and CHF.

Payment methods:

  • Credit Card (Master, VISA)
  • PayPal
  • E-Wallets (Skrill, Neteller and more)
  • Bank Transfer
  • Bitcoin Wallet
  • UnionPay
  • Bpay
  • FasaPay
  • No hidden fees

Our real withdrawal proof

We uploaded our IC Markets review video on youtube and we got different comments from people who say that IC Markets is a Scam Broker. Withdrawals would not happen or the broker is manipulating the spreads. Form my experience there is no scam or fraud on this broker.

Often beginners or traders without the experience of the markets make big losses and claim the broker for it. Personally, we never got a problem with IC Markets and the trading and withdrawal of profit. In the next picture, we will show you our payout of money:

Withdrawal proof of IC Markets

Is there a negative “Balance Protection”?

At IC Markets, there is no negative balance protection from my experience. This only shows that it is a real ECN broker. Similar to futures trading, the account can end up in very extreme situations in a negative state.

Usually, this does not happen if you use a balanced risk management and do not burden your account with oversized positions. IC Markets automatically stops all positions with 50% margin overstepping. A higher value is also adjustable. So you should be protected under normal circumstances.

For IC Markets it is also not possible to get negative balance protection for its customer as it is trading on real market conditions. If there is no counterparty in the market, you can close the position later. However, this is rarely the case as the markets are very liquid.

Customer support and service at IC Markets

The language of the support is English. The website is translated into different languages. More than 10 languages are available. The support works 24 hours a day from Monday to Friday and is available via chat, telephone or email.

The speed of support is outstanding. For example, you get a direct answer via chat support. The employees work quickly and can help you with your problems.

For beginners, there are analyzes and video tutorials for the platform. Sometimes well-known guests are invited for webinars. You will then receive a notification via email. Taken together, the support is pretty good because you always get professional help directly. However, you have to make a small smear, because of there no support in every language.

  • Support 24 hours per week (working days)
  • Phone, Email, and Chat-Support

Countries

More and more people want direct access to the ECN Forex market. IC Markets accept traders from around the globe. There are some exceptions: The broker does not accept traders from the U.S, Canada, Israel, Iran.

The fast-growing area of the world is the Asian and Africa markets. They accept traders from China, India, Philippines, Indonesia, South Africa, Ghana and more.

Our conclusion: IC Markets one of the best ECN Forex Brokers

IC Markets is my personally favored Forex Broker because here you are without conflicts of interest to very small fees. Unlike most providers, this broker has real ECN access. Thus unlimited profits can be made and the broker earns only at the commission its money.

The cost is reduced to the lowest and in this area, you can not find a cheaper provider. The designs and the service are sensational. We can recommend this broker to any trader who wants to trade with large or small capital.

In conclusion, IC Markets is one of the few top brokers worldwide that can be recommended with a clear conscience. Start now with the free demo account and test the provider yourself.

The advantages of IC Markets:

  • Regulated and safe Forex Broker
  • Real ECN Trading
  • The best conditions for traders (0.0 pips spread + commission)
  • Metatrader 4 and 5
  • Very fast support
  • No hidden fees
  • The best broker for high volume trading through big liquidity providers
  • Free demo account
  • Minimum deposit 200$

If you search for a reliable Forex Broker without conflict of interest and good conditions, you should choose IC Markets. (5 / 5)

MarketsX Review

Review

MarketsX, which many traders may know by its former name Markets.com, is a global Forex broker that became operational in 2020. This broker started its journey as GFC Markets but rebranded as Markets.com in 2020 following the merger between Safecap Investments LTD, the owner of GFC Markets, and TradeFX. In 2020, the FTSE250 listed gaming software company Playtech PLC, ticker symbol PTEC, acquired TradeFX for £458 million. This made Playtech the owner of Markets.com, which is now rebranding itself as MarketsX. This broker went under a massive restructuring in 2020, selling its binary options platform TopOption, and reducing its workforce. MarketsX is regulated across five jurisdictions, offers more than 2,200 assets from three trading platforms, and was a top sponsor of Premier League football team Arsenal FC for five years from 2020 until the deal expired in 2020. All of these signs point to it being a highly competitive broker that is here to stay.

Regulation and Security

MarketsX is owned by TradeTech Alpha LTD, a division of Playtech PLC. The Financial Conduct Authority (FCA) is the principal regulator, but MarketsX is regulated across five jurisdictions. This indicates an important fact to consider, as each jurisdiction grants particular benefits and various degrees of trader protection. Besides FCA regulations, MarketsX is authorized and regulated in Europe by the CySEC, globally by FSC in the British Virgin Islands, in Australia by ASIC, and in South Africa by the FSCA. The strong global ownership and unique global regulatory environment create an extremely secure brokerage.

Client funds remain segregated from companies’ funds across all five operating subsidiaries, but traders operating under the CySEC regulatory environment are exposed to the Financial Instruments Directive 2020/65/EU or MiFID II and the EU’s 4th Anti-Money Laundering Directive. The EU Directive 2020/49/EU mandates participation in the Investor Compensation Fund (CIF) with maximum coverage of €20,000. UK-based traders are protected by the Financial Services Compensation Scheme (FSCS), up to £85,000. Negative balance protection applies to all five subsidiaries. Traders regulated under FCA, ASIC, and FSCA receive incentives and loyalty rewards. MarketsX remains a very transparent broker, and regardless of which subsidiary accepts traders, the regulatory environment is solid.

MarketsX enjoys the financial backing of a powerful corporate owner, listed on the FTSE 250.

This broker is regulated in five jurisdictions and executes an excellent task when it comes to transparency.

Traders are advised to carefully consider the pros and cons of signing up under the subsidiary that would ultimately manage their portfolios.

The primary regulator for MarketsX is the FCA in the UK.

MarketsX generates most of its revenue through spreads on over 2,200 assets. The EUR/USD is listed with a starting spread of 0.4 pips, which represents a very competitive offer. No commissions are charged at this broker, adding to the excellent trading environment. Before the rebranding, MarketsX solely deployed a market maker execution model and profited directly from traders’ losses. It now extends a dual model after the addition of an STP model.

Swap rates on leveraged overnight positions apply, and traders can retrieve the applicable rates from inside the trading platforms. Corporate actions, like dividends, stock splits, or takeovers on equity and index CFDs, are passed on to traders. MarketsX doesn’t charge for deposits or withdrawals, but third-party charges may apply. The fee structure introduced by this broker is extremely trader-friendly and remains a critical factor to consider.

MarketsX offers a very competitive pricing environment for traders to consider.

What Can I Trade

Traders have over 2,200 assets across the Forex market, commodities, equity and index CFDs, cryptocurrencies, bonds, and ETFs to choose from. Pure Forex traders will find a great selection of currency pairs but, as with many brokers, the cryptocurrency market is only represented with five names. Twenty-five commodity CFDs offer solid exposure to this sector, but only four bonds are offered. Twenty-one index futures CFDs complement the large equity CFDs selection covering twenty countries, while the ETF offering further allows traders to branch out. Cross-asset diversification may easily be accomplished for retail traders and professional ones alike.

With over 2,200 assets across seven categories, traders have the option to properly diversify their portfolios.

Account Types

MarketsX provides all traders with the Classic CFD account, and an upgrade to a professional account is available. A Premium account is mentioned in one section, but no details are provided. Leverage remains one critical difference between the Standard account across the five regulatory jurisdictions. The FCA and CySEC regulated subsidiaries allow maximum leverage of 1:30, while the FSC, ASIC, and FSCA cap the maximum leverage at 1:300. This will cause a significant difference in the trading environment, directly influencing profitability.

The Classic CFD account is the default selection for all traders.

The regulatory framework directly impacts the trading conditions, and traders need to consider this carefully.

Professional accounts are only offered by the FCA and CySEC regulated entities, and strict requirements apply. Traders will get the same conditions at the FSC, ASIC, and FSCA regulated subsidiaries. The most significant difference remains leverage.

Trading Platforms

The MT4/MT5 trading platforms are available but reduced to a mere mention under MetaTrader Trading Conditions. Not even a general description of the platform features is provided, a download link for either platform is equally absent. MarketsX strongly promotes its proprietary webtrader and has created all tools specifically for it. The MT4/MT5 trading platforms are offered as the fundamental version only. This may create a less-than-ideal offering for some traders (especially advanced traders) as popular third-party plugins aren’t available in either platform offering.

The proprietary webtrader is presented as an easy-to-use platform with powerful trading tools. MarketsX provides fifteen tools for traders and, compared to a basic version of the MT4, the webtrader offers a much more sophisticated gateway to financial markets. Traders who have no existing trading solutions that would require the MT4 infrastructure will be adequately served by the webtrader. The biggest flaw remains the lack of support for automated trading solutions, as provided by MT4. While the webtrader offers great trading tools, an upgraded MT4 would result in a superior product. Traders will need to assess if they want to invest in an MT4 upgrade, or use the webtrader for manual trading.

The MT4/MT5 trading platforms are offered but not properly presented.

MarketsX introduces its webtrader as an easy-to-use trading platform.

Trading tools provided by this broker are solely available for its webtrader.

Unique Features

MarketsX offers fifteen trading tools on its webtrader, which enhances the trading environment, offering research and analytics tools, including insights into financial markets. They are broken down into fundamental, technical, and sentiment tools. The XRay segment provides a live and interactive stream, covering a broad range of topics. It is important to note that a majority of those trading tools are provided more efficiently through MT4 plugins. The combination of all tools provides traders with a powerful suite for a manual trading approach.

Events & Trade is an interactive economic calendar, with data from over 30 leading analysts around the globe. The Dow Jones News feed keep traders informed on global developments which may impact their trading strategy.

The Thomson Reuters Analyst Research provides traders with a fundamental analytical tool for equity, index, and ETF CFDs. Advanced Alerts can assist traders with relevant changes to desired assets.

Financial Commentary may help traders identify new trading opportunities.

Advanced Charting consists of an extensive charting package for the webtrader to enhance technical analysis.

Analyst recommendations may be viewed for trade confirmation or to conduct sentiment analysis. Hedge Fund Confidence shows trading positions held by hedge funds as filed with the SEC, but the data is three months delayed.

Insider Trades is another helpful tool for equity traders, displaying trading activity from key insiders at firms. Bloggers Opinions is an innovative tool providing insight from over 50,000 contributors.

Acuity News Alerts further diversifies news coverage that could impact assets. The Acuity News Sentiment provides a quick overview on assets as gauged by news coverage.

Signals and Traders Trends are provided by MarketsX. The former creates trading signals based on Daily Analyst Recommendations, Insider Trades, Hedge Fund Confidence, and Bloggers Opinions. The latter merely displays the sentiment of this broker’s trading positions on the webtrader.

XRay is an interactive stream, provided directly from inside the webtrader. It represents a very useful service for traders as it features relevant topics, and a welcomed intermission from regular trading activities.

Research and Education

MarketsX doesn’t provide any in-house research or education. It opted to outsource the entire research capabilities to third parties, but given the broad reach and investment into this approach, the result is outstanding. Traders have access to a more than ample supply of research and analytics, and this broker additionally offers trading signals based on the array of tools provided.

Regrettably, no educational content is offered. This is a major oversight by MarketsX.

Customer Support

Customer support is accessible 24/5 in English, French, Spanish, Italian, Arabic, German, and Bulgarian. The most convenient method to engage with support is through live chat, but traders may also call or fill out the web-form. The response time for queries submitted via web-form is listed as 28 hours. A support section dedicated to the most common questions is available and should take care of basic questions. Most traders will never require customer support, especially at a well-operated brokerage. MarketsX falls into this category, but support is easily available if required.

Bonuses and Promotions

MarketsX mentions incentives and loyalty rewards for the FSC, ASIC, and FSCA regulated entities, without providing more details about them. Either they have been discontinued, and the website was not updated, or they are provided after clients open an account. The broker would benefit significantly by taking a second look at this section and fixing it up.

Opening an Account

New traders may conveniently open an account through the online application form, the standard operating procedure across the brokerage industry. The webform merely asks traders for their e-mail address and password creation. The option to complete this process through a Google or Facebook account is available. This will grant new traders access to their client portal, from where a copy of the trader’s ID and one proof of residency document is required to verify the account and to satisfy AML/KYC requirements, as mandated by the regulators. Traders can completely trust this broker with their information.

A very simple sign-up process is offered by MarketsX, and given the sound regulatory environment, traders can trust this brokerage without hesitation.

Deposits and Withdrawals

Deposit and withdrawal options consist of bank wires, credit and debit cards, Skrill, Neteller, and PayPal. Local bank transfers, Ideal, and Sofort are listed under deposits methods but not as a withdrawal option. Not all methods apply to every trader, as they are based on geographic location. Unfortunately, the minimum deposit and withdrawal amounts are unequal for each entity. Most minimum deposits are listed as $100 or a currency equivalent, except for the UK, where the minimum is increased to $250. The same lack of consistency applies to withdrawal amounts. Processing times may take up to eight business days for credit card transactions, which appears overextended. As mandated by regulators, deposits and withdrawals can only be processed if the accounts are in the same name.

General Information

Company Information

  • Broker’s Name : MarketsX
  • Headquarter : South Africa
  • Regulation : CySEC, FCA, ASIC, FSC, FSCA

Account Information

  • Type of Broker : Market Maker
  • U.S. Clients Allowed :
  • Minimum Deposit : $100 (Based on location)
  • Maximum Leverage : 1:300 (Based on location)

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based
    • English
    • Spanish
    • Arabic
      • Mac
      • Windows
      • Linux
      • Mobile
      • Web
      • iPhone
      • iPad
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :
  • Customer Support

    • English
    • Spanish
    • Arabic
  • Support Hours : 24/5
  • E-mail Support :
  • SMS Support :
  • Chat :
  • Pros and Cons

    • Demo Account Available
    • Choice of Trading Platforms
    • Excellent Customer Support
    • Only One Trading Account

    Where is MarketsX based?

    MarketsX is headquartered in London, UK. This brokerage has five regulated entities with their respective headquarters, but London is where the corporate owner is authorized and regulated.

    How does MarketsX make money?

    MarketsX derives its income from spreads charged on over 2,200 assets and profits directly from traders’ losses where it acts as a market maker.

    How can I deposit into a MarketsX account?

    MarketsX supports bank wires, credit and debit cards, Skrill, Neteller, and PayPal.

    What is the minimum lot size at MarketsX?

    The minimum trading size in the MT4 trading platform is 0.01 lots, while the minimum CFD size in the webtrader is presumed to be 1.0.

    When does a margin-call take place at MarketsX?

    MarketsX Group LTD issues a margin call at a 50% equity-margin ratio.

    Is MarketsX regulated?

    The Financial Conduct Authority (FCA) is the principal regulator, but MarketsX is regulated across five jurisdictions. Besides FCA regulations, MarketsX is authorized and regulated in Europe by the CySEC, globally by FSC in the British Virgin Islands, in Australia by ASIC, and in South Africa by the FSCA.

    What is the maximum leverage offered by MarketsX?

    The maximum leverage for clients of MarketsX Group LTD equals 1:300, but clients of the FCA and CySEC regulated entities are limited to 1:30.

    How do I open an account with MarketsX?

    MarketsX has an online application form, which is the standard operating procedure.

    What trading platforms does MarketsX offer?

    MarketsX provides the basic MT4/MT5 trading platforms without required upgrades, as well as its proprietary webtrader for which fifteen trading tools have been developed.

    Summary

    MarketsX offers traders a fantastic trading environment with over 2,200 assets, tight spreads, and no commissions. This brokerage started its journey in 2020 and went through a merger as well as a rebranding phase. It now operates as MarketsX, a well-regulated brokerage in five jurisdictions and a member of FTSE250-listed gaming software company Playtech PLC. The core services provided by this brokerage are exceptional, but as is the case with all brokerages, there is always room for improvement in some areas.

    The MT4/MT5 trading platforms are available but merely mentioned in one section of the website without a proper introduction. This is done to push the MarketsX proprietary webtrader, and while nothing is wrong with promoting an in-house developed solution, it would certainly make MarketsX more attractive if it offered a comprehensive MetaTrader offering. Over fifteen trading tools are developed, but exclusively available for the webtrader.

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    Traders without existing trading solutions requiring the MT4 infrastructure and relying solely on manual trading will be properly served at MarketsX. However, traders who want to manage their portfolios in MT4 are reduced to the fundamental version and would need to invest in upgrades. That being said, traders who are willing or interested in learning about the MarketsX webtrader may find that all (or at least most) of their needs are met through this strong proprietary platform. Trading conditions vary across the five entities due to regulatory restrictions, and the best environments are provided by the FSC, ASIC, and FSCA regulated subsidiaries. MarketsX provides a sound choice and remains an excellent option as a primary or secondary broker. The fifteen trading tools offer to users of the webtrader provide more than enough of a reason to manage a portfolio at this brokerage as part of a well-diversified strategy.

    User Reviews

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