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IC Markets is among the most well-known and reputable brokers in the world, and many novice traders consider this company one of their primary options. However, even a reputable broker should be thoroughly examined to make a fully informed decision. In this article, we analyze the broker’s conditions and regulation in South Africa.
History and security
Let’s start with some basic facts about the broker. Founded in Sydney, Australia, IC Markets has been operating since 2007, and now it’s a popular international broker with lots of active users from the UK, Vietnam, Brazil, Poland, and a variety of other countries in Asia, Europe, and the Americas. Since its main office is located in Australia, IC Markets is regulated by the Australian Securities and Investment Commission (ASIC).
The company also participates in the Australian Financial Complaint Authority (AFCA). That organization exists to set standards for processing complaints from users just like you, so you can be sure any problem with your funds won’t be ignored. IC Markers is known to employ the most effective ways to protect your funds, and the broker frequently undergoes independent external audits to prove every transaction remains legal.
Trading tools and conditions
IC Markets South Africa offers its clients a wide range of available trading instruments. The list includes 60 currency pairs, futures, and various CFDs (indices, stocks, bonds, and so on). However, many traders will be disappointed by the absence of any cryptocurrencies (you can buy derivatives based on them), but that’s just the policy of the company. All in all, the broker offers its clients more than enough tools to choose from.
When it comes to trading conditions, IC Markets is also pretty outstanding. While the minimum deposit is relatively high (you need at least $200 to start trading), the leverage goes all the way up to 1:500, providing many possibilities for experienced traders. IC Markets offers you MT4, MT5, and cTrader trading platforms to choose from, and there’s a mobile app, too.
Many users praise the broker for its speed of order execution and favorable spreads, which start from 0.0 pips. Just take a look at the spread for the EURUSD pair: it amounts 0.1 pips on average, the lowest value in the world. So it’s not a surprise that many novice traders flock to the platform. There are many educational materials on the website, and if you need help, the 24/5 support service will be eager to help.