Question 1

Is IC Markets a regulated and secure broker for South African traders?

Accepted Answer

IC Markets is regulated by several top-tier global authorities including ASIC (Australia), CySEC (Cyprus), FSA (Seychelles), and SCB (Bahamas). Although it is not regulated by the South African FSCA, it holds segregated accounts, offers negative balance protection, and employs other client safety measures such as in-house insurance up to $1 million. Client funds are kept in segregated Tier-1 banks like National Australia Bank and Westpac to ensure high security standards for traders.

Question 2

What trading costs and fees can South African traders expect at IC Markets?

Accepted Answer

IC Markets offers highly competitive trading costs with spreads starting from 0.0 pips on Raw Spread accounts and a commission of $3 to $3.5 per lot per side on commission-based accounts. The Standard account has no commission but wider spreads averaging about 0.8 pips. There are no deposit or inactivity fees, although withdrawal fees may apply depending on the third-party payment method. Overnight swap fees apply based on asset and position direction. Overall, IC Markets provides transparent fee structures favorable to both scalpers and regular traders.

Question 3

What deposit and withdrawal options does IC Markets provide for South African traders, and how fast are these processed?

Accepted Answer

IC Markets supports a wide range of deposit and withdrawal methods including credit/debit cards, PayPal, Skrill, Neteller, UnionPay, wire transfer, Bpay, POLi, and selected internet banking options. Deposits are generally instant or processed within 24 hours with no fees from IC Markets. Withdrawals are processed typically within one business day, with e-wallets like Skrill and Neteller receiving funds the same day, while bank wire transfers may take 3 to 5 business days. No deposit or withdrawal fees are charged by IC Markets, but third-party charges may apply.

Question 4

Is IC Markets beginner-friendly for new South African forex traders?

Accepted Answer

Yes, IC Markets is beginner-friendly. It offers a free unlimited demo account for risk-free practice, extensive educational resources including videos, eBooks, webinars, and structured learning paths tailored for beginners. The trading platforms are user-friendly and supported by tutorials. Although the minimum deposit of $200 might be higher than some competitors, the broker provides an intuitive experience with support available 24/7 via multiple channels, making it suitable for both novice and experienced traders.

Question 5

What trading platforms and features does IC Markets offer to South African clients?

Accepted Answer

IC Markets supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader trading platforms across desktop, web, and mobile devices. These platforms feature advanced charting, algorithmic trading with Expert Advisors (EAs), one-click trading, raw pricing feeds, and support for multiple trading styles including scalping and hedging. The broker also provides additional tools such as AutoChartist, Trading Central, VPS hosting, and mobile apps with real-time market data, aiming to cater to a wide range of trader preferences.

Question 6

What account types and special features are available to South African traders at IC Markets?

Accepted Answer

IC Markets offers three main live account types: Standard, Raw Spread (MetaTrader), and cTrader accounts. The Standard account features wider spreads but no commissions, while Raw Spread accounts provide ultra-low spreads with commissions. Islamic swap-free accounts are available upon request, complying with Sharia law. South African traders can access micro-lot trading, high leverage up to 1:500 (or 1:1000 in some entities), and a professional account segment for experienced traders. The broker also supports social copy trading via platforms such as ZuluTrade and IC Social.

Question 7

How beginner-friendly are the educational and customer support resources at IC Markets for South African traders?

Accepted Answer

IC Markets provides comprehensive educational resources tailored for beginners and intermediate traders, including video tutorials, eBooks, webinars, and detailed trading guides covering technical and fundamental analysis, risk management, and platform usage. Customer support is available 24/7 via live chat, email, and phone with fast response times, multilingual support, and social media engagement. This well-rounded support system enhances the onboarding experience for new traders from South Africa.

AIMS

Regulatory License

Account Information

Why Choose AIMS

Key Point 1

Key Point 2

Key Point 3

Key Point 4

Key Point 5

Key Point 6

Key Point 7

Key Point 8

Key Point 9

Key Point 10

Advantages

Disadvantages

Broker Details

More Brokers

Resources

Legal

Support