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Why are IC Markets good for traders from the best forex brokers in South Africa?

Why are IC Markets good for traders from the best forex brokers in South Africa?

Filed Under: Business

IC Markets is a multinational forex brokerage situated in Sydney that was founded in 2007. The Cyprus Securities Commission (CySEC), the Seychelles Financial Regulatory Authority (FSA), and the Australian Securities and Investments Authority all regulate the company (ASIC). Since it is regulated by the top-tier ASIC, IC Markets is considered safe. Make contact with the best forex brokers in South Africa to start your trading journey.

Fees and how we graded them

Based on how IC Markets’ fees compared to that of all reviewed brokers, we rated them as low, medium, or excessive. Let’s start with some definitions of terms linked to broker fees. Trading and non-trading charges are two things that keep an eye on.

When you trade, you will incur trading costs. Recommendations, spreads, lending rates, and operational expenses are examples of these. Non-trading costs encompass things like withdrawal fees and inactivity fees that aren’t directly related to trading.

The most important IC Markets charges for each asset type are shown in the areas below. Gets spread, fees, and borrowing rates, for instance, are the most essential fees in forex and stock indexes trading.

CFDs are sophisticated financial products that have a high risk of losing cash immediately due to concentration. When trading CFDs with this provider, 75% of retail investor wallets lose money. You should think as to whether you know how CFDs work and whether you can afford to start losing all of your cash. pepperstone reviews offer a growing range of tradeable markets.

Pros

It is a safe broker (average-risk) for forex trading and CFDs because it is licensed in one tier-1 and one tier-2 state.

Offers low average spreads and competitive rates across all chequing accounts.

The IC Markets MetaTrader platform is supplemented with third-party research and betting tool extensions.

In 2022, IC Markets is our highest MetaTrader broker.

Has more than tripled its amount of market symbols from 204 to over 3,500.

Traders who wish to run computational strategies would love IC Markets’ low-cost, flexible execution. The pepperstone reviews offer both Meta Trader and C trader for trading.

Cons

When it hits the market research scope and multimedia instructional quality, it lags below the best forex traders.

There isn’t a proprietary trading app available.

Is it safe to trade on IC Markets?

With an overall Trust Score of 86 out of 99, IC Markets is considered poor. IC Markets isn’t a publicly traded corporation, and it doesn’t run an institution. One tier-1 regulator (high trust), one tier-2 regulator (medium trust), and one tier-3 regulator have all given their approval to IC Commodities (low trust). The following tier-1 regulators have approved IC Markets: Australian Securities and Investment Commission; Australian Securities and

Investment opportunities are available.

IC Markets’ Australian, Cyprus, and Qualities firms provide a total of 3,583 tradeable products. The table below outlines the various financial products that IC Markets clients have recourse to.

Cryptocurrency: CFDs are offered for bitcoin exchanges at IC Markets, but the underlying value is not available for trade (e.g., buying Bitcoin).

Trading commissions at IC Markets

Trading fees at IC Commodities are quite cheap. Various account types have different cost structures. The ‘True ECN with MetaTrader’ account, which charges a charge but has tight gaps, was put to the test.

We understand how difficult it is to evaluate forex broker trading fees. So, how did we go about keeping their costs transparent and similar? We compared brokers by summing all of the fees associated with a normal trade for a certain product.

We selected prominent products from each asset type that are often offered by forex traders: EURUSD, GBPUSD, AUDUSD, EURCHF, and EURGBP are examples of forex pairs. Stock index CFDs include SPX and EUSTX50.

Buying a leveraged product and keeping it for one week before selling is a standard strategy. We decided on a $20,000 FX account and $2,000 stocks index and stock CFD strategy for liquidity. We employed the following power and influence:

For FX, the ratio is 30:1. For stock index CFDs, the leverage is 20:1. Spreads, fees, and financing expenses for all providers are included in this all-inclusive base component. Fees that are not related to trade. Non-trading costs are minimal at IC Markets. There are no fees for inactivity, withdrawals, or account management. When using a credit/debit card, digital wallet, or international money transfer, there are no charges.

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About Lena Burkut

Lena Burkut is the Content Strategy Editor, SEO Strategist, life influencer, and the owner of Bulk Quotes Now. He loves to write about love, life, and happiness.

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