From what a person who turned his eyes to trading as a source for earning money for a decent existence should start? First of all, it is necessary to choose a Forex broker. There is no monopoly, each company has its own peculiarities: working conditions, the fee size, offered trading instruments and much more. To choose a reliable company, it is necessary to familiarize with the history of creation, its location, the availability of licenses or, in short, the reputation of this broker. After choosing a company from many, its work should be tested on a demo account. Or it is possible to reduce the time, because all this work has been already done for you.
We have already reviewed and tested all the well-known trading brokers and selected the most reliable of them. In the following articles we will explain in detail about the difference of their operation and the offered conditions, so you can choose a suitable broker, based on your tasks.
Attention! All our articles are based on our Forex market experience, they are non-regulatory in nature. On this website you will find the necessary information about trading tools and services. We recommend you to familiarize yourself with them before starting work.
Our first recommendation is IC Markets, Australia’s largest forex CFD operator, founded in 2007, licensed to provide AFSL financial services (license no. 335692) and a securities dealer (license number SD018) for financial activities in the Seychelles. This is a broker No. 1 for us – this company has proved to be a reliable broker with a lot of benefits, which we will talk about now.
Also note that investor funds are effectively protected and kept on segregated accounts. Since its foundation, the broker has been geared to the Pacific market representatives but the customer base was supplemented by Russian, Chinese and other traders over time.
- Low spread. It is believed that a low spread is one of the most favorable conditions for working with a forex broker, statistics show that the average IC Markets spread on EUR / USD is 0.1 points in accordance with the data obtained from independent sources, which confirm that the consolidated weekly spread on EUR / USD was the best among 32 other direct competitors in the forex sector at 96% of the period from January to December 2019; direct spread without hidden fees is truly from 0 points, according to third-party suppliers, the spread on EUR/USD was 0.0 points on 95% of the period from 01.07.2019 to 31.12.19 (available only for RAW Spread accounts);
The trader will have less transaction costs and more money saved by trading with a low spread, since a high spread can swallow most of the profit, for example, if the trader makes many short-term transactions. Low spread does not matter much only with long-term transactions with minimal investment.
In order to confirm our words, we have collected statistics on the spread changes on real trading RAW Spread accounts with the help of the Spread Detected indicator specially developed by the DaVinciFX Group team. Information in graphical form is presented below:
As we can see in the diagrams presented, the spread is kept almost around the zero zone during all trading sessions, thereby confirming the reputation of IC Markets as a broker providing excellent trading conditions and one of the lowest spreads in the retail Forex industry.
2. Ultrafast orders execution. This is one of the important moments when choosing a broker, as it is known, that fast orders execution at the requested price is a huge benefit and IC Markets certainly has it, since the average order execution time is 36.5 ms, including receiving, processing and confirming execution. This will certainly be your competitive advantage in automated trading with the help of advisors.
3. Convenient work. IC Markets, being one of the major brokers, pays great attention to customer service and offers a convenient interface, quick opening and accounts replenishment, quick funds withdrawal, secure transfer without fees, customer support.
4. Range of trading instruments. IC Markets offers a wide range of markets for trading and the possibility to invest in the forex market, CFDs on world indexes, raw commodities, stocks, bonds, cryptocurrencies and futures.
5. Effective trading terminals. The operator offers several options for popular trading platforms which include MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader. Each terminal has its own features, this choice gives the trader the opportunity to choose a convenient one. They meet all the necessary requirements for a comfortable trading, have wide functionality, a convenient interface and no compatibility problems, thus it is possible to work with both a PC and a smartphone or tablet on any operating system.
6. Various trading accounts types. A reliable forex broker must offer several accounts types with various conditions, so IC Markets offers 3 types of accounts:
It is also possible to open swap-free accounts, they are valid for Raw Spread and for Standard accounts. No swap is charged on these accounts but there is a daily fee.
7. Tutorials and training. This is a nice bonus, especially for beginners, there is a separate training section on the IC Markets website that offers video tutorials, trading knowledge, explains the Forex trading benefits, a basic “10 lessons” course and much more, including a news portal.
8. Reliability. In our articles we will only recommend reliable forex brokers we work with ourselves, nevertheless we would like to tell how IC Markets earned our trust as a separate paragraph. For us, this is one of the most “transparent” brokers. When you start working via IC Markets, you understand all the conditions, you may always rely on 24/7 operator support, this broker is one of the most convenient money-making providers, especially when using automated trading. IC Markets conducts up to 500,000 transactions per day with a total trading volume of more than $ 15 billion.
9. An indisputable benefit of the IC Markets broker is the provision of free-of-charge VPS servers with minimal ping to the IC Markets trading servers. But for this it is necessary to meet just one criterion, to have a turnover of at least 15 lots on transactions in forex and metals by the end of the month.
Despite the fact that IC Markets created the most favorable conditions for its customers, there are still some drawbacks, but there is no need to write them down in points, since there is only one to pay attention on, it is impossible to transfer to Russian bank cards, there are other output options, we will talk about them below.
So, we have provided brief information about the IC Markets forex broker, now we will learn the way it works.
After selecting an account, it is necessary to register and replenish the it via your personal account. There are 15 deposit options in 10 different currencies: bank cards, PayPal, Neteller, Neteller Vip, Skrill, UnionPay, bank transfer, Bpay, FasaPay, transfer from a brokerage account, POLI, Internet tank in Thailand, Rapidpay, Klarna, Bitcoin Wallet, Vietnames Inernet Banking. It is clear that not all replenishment types of are available for Russian clients – we have taken in account all circumstances to provide as much options as possible, since working on the forex market does not mean that you are obliged to be at home.
As for security, the broker is responsible for the confidentiality of your data, the funds are stored in the accounts of Australian banks National Australia Bank (NAB) and Westpac Banking Corporation (Westpac).
In the previous paragraphs we briefly described the pros and cons of this process, so now we will tell in more detail how to withdraw funds if you are located in the Russian Federation or outside it.
The withdrawal may also be carried out via your personal account. IC Markets does not charge additional fees for replenishing and withdrawing funds but banks or other systems may charge fees.
One of the possible withdrawals is the withdrawal to a bank account but in this case the fee will be 20 Australian dollars.
Withdrawal to bank cards is one of the most convenient ways (without fees) but unfortunately this withdrawal type is not possible in Russia.
Withdrawals through Paypal, Neteller and Skrill are allowed only to the same account from which the deposit was replenished, no fee is charged. The operation is instantaneous.
Tools for traders
To simplify the work of its customers, IC Markets offers tools such as:
- MAM / PAMM / LAMM accounts: These tools are suitable for those who work with advisors and make it possible to work with many accounts in a single interface at once.
- Applications for convenient trading: Applications and indicators have been created for convenience and for greater profit, which are effective tools for trading. Each tool comes with a detailed description in PDF format, but only in English, so it will be better to ask the help of a translator in case if you do not have average knowledge of English.
Summarizing all the above, we can state with confidence that the IC Markets broker is currently one of the best, if not the very best broker in the retail Forex industry, providing private traders with truly unique and favorable conditions for both manual and automatic trading of Forex advisors. The factors that determine this advantage are, first of all, low spreads, excellent trade orders execution and a qualified support service.
Trading algorithms developed by the DaVinciFX Group team have been demonstrating stable profitable results on accounts opened with IC Markets broker for several years. We strongly recommend that you familiarize yourself with the conditions offered by this company.
We tried to briefly describe all the main highlights when working with the forex broker IC Markets, so if there are any questions left, we will be happy to answer them, just write an email to our support team.
It is time to start earning!