IC Markets is a top Australian-based automated trader and the largest trading platform worldwide based on forex volume. The company has been operational since 2007 with a vast number of clients as it gives a great trading experience to everyone, i.e., retail and institutional clients. Financial Services Authority of Seychelles (FSA) regulates it and holds the customers’ money in segregated accounts in Tier 1 banks. It ensures your investment is safe and secure and doesn’t mix with that of the company. IC Markets gives the traders what they want hence the availability of multiple accounts. We expound on the IC Market account types down below.
Types of IC Market Accounts
IC Markets is there to serve everyone’s interests. Being a top broker, it has account options with great customer service representatives, offering customer support every day. The accounts are;
1. Demo Account
As a new forex trader to this broker platform, you must fill out the information needed to access the demo account. It’s an easy process that’s done within minutes. You get to practice trading using virtual cash for as long as you want before opening a live account. IC Markets has a demo tutorial account that guides you on what to do before starting your demo account. The experience offered is valuable and ideal for any interested person.
2. Standard Account
It is the most common type of account in the IC Markets. Beginner or low volume traders are better off starting trading since it’s simple, commission-free, and has large spreads. The account comes with a wide selection of features and trading platforms such as cTrader and MT4and MT5. These previous platform servers are attached to the network of the account, allowing fast execution of trades. The available leverage for the standard account is 1:500 and offers various currency options for those who don’t prefer foreign money.
3. Micro Account
The account is less common, considering few brokers offer it to their customers. IC Markets still provides it for the few interested people or those who understand what it entails. Micro account has unique characteristics like availability of micro-lots from as low as 0.01 dollars that help manage your risk profile and freedom to conduct a live trade with little investment.
4. ECN Account
The Electronic Communications Network is perfect for experienced traders since it has low spreads, high leverage, and commission-based per trade. It has platforms to choose from, like MT4 True ECN Account and cTrader ECN Account.
5. MAM Account
Unlike other accounts, this one is made only for professional traders managing money or those who own several accounts. This account is available on the MT4 platform, where you can engage in EA trading. There are no fixed spreads, fees, and commission values on this account. Negotiation must be done with the IC Markets regarding the turnover values of that month’s trading.
6. Swap-Free Account
It’s also called the Islamic account. It is designed to suit clients guided by sharia law to fulfill their needs. To access the account, you have to contact the customer care team to help you out.
The above information indicates why IC Markets is the largest forex trading platform. The multiple accounts accommodate everyone, either a beginner or elite trader based on their requirements, and all are safe for investing and trading. Customer support services are available 24/7 for you to enquire in case you need help.