Quick Facts
- IC Markets is an Australian-based online trading brokerage firm that was founded in 2007.
- IC Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Seychelles Financial Services Authority (FSA).
- The brokerage offers three main types of accounts: Standard, Raw Spread, and Islamic Swap-Free accounts.
- The Raw Spread account is a popular choice among traders due to its competitive pricing, offering spreads from 0.0 pips and a commission of $3.50 per standard lot.
- IC Markets offers a range of trading products, including Forex, Indices, Commodities, and Cryptocurrencies.
- The brokerage provides access to the popular MetaTrader 4 and 5 trading platforms, as well as the cTrader platform.
- IC Markets has a minimum deposit requirement of $200 for all account types.
- The brokerage offers a maximum leverage of 1:500 for Forex and 1:200 for other instruments.
- IC Markets provides 24/7 customer support in multiple languages, including English, Chinese, and Arabic.
- The brokerage has a reputation for fast execution speeds, with an average execution time of 36 milliseconds.
IC Markets vs Raw Spread Account Review: Unpacking the Truth
As a trader, I’ve spent countless hours scouring the internet for the perfect broker. One that offers competitive spreads, reliable execution, and unparalleled customer support. In my quest for trading nirvana, I stumbled upon IC Markets and their Raw Spread account. But, is it truly the holy grail of trading accounts? In this review, I’ll delve into the world of IC Markets and Raw Spread, examining the pros and cons, and sharing my personal experience.
What is IC Markets?
IC Markets is a leading online forex and CFD broker, established in 2007. They boast a strong reputation for offering competitive spreads, fast execution, and a robust trading platform. But, what sets them apart from the rest is their Raw Spread account, which promises to deliver some of the tightest spreads in the industry.
What is a Raw Spread Account?
A Raw Spread account is a type of trading account that offers direct access to the interbank market. This means that traders can benefit from the same spreads as institutional traders, without the need for intermediaries. Raw Spread accounts are typically associated with higher minimum deposit requirements and stricter trading conditions, but the payoff is well worth it – spreads as low as 0.0 pips.
IC Markets Raw Spread Account Review
I opened a Raw Spread account with IC Markets, depositing a minimum of $200. My initial impressions were overwhelmingly positive. The account setup process was seamless, and I was up and trading within minutes.
Spreads and Commission
The spreads on the Raw Spread account are truly phenomenal. I’ve seen EUR/USD spreads as low as 0.0 pips during peak trading hours. The commission structure is also extremely competitive, with a flat rate of $3.50 per lot per side. Here’s a breakdown of the spreads and commission:
| Currency Pair | Spread (Pips) | Commission (Per Lot) |
|---|---|---|
| EUR/USD | 0.0 – 0.5 | $3.50 |
| GBP/USD | 0.1 – 0.5 | $3.50 |
| USD/JPY | 0.1 – 0.5 | $3.50 |
Execution and Trading Conditions
IC Markets boasts some of the fastest execution speeds in the industry, with an average execution time of 40 milliseconds. The Raw Spread account also offers no requotes, ensuring that traders receive the best possible prices.
Customer Support
IC Markets’ customer support is top-notch. I’ve had several interactions with their support team, and they’ve always been responsive, knowledgeable, and friendly. They offer support in multiple languages, via phone, email, and live chat.
Pros and Cons of IC Markets Raw Spread Account
Here are the key advantages and disadvantages of the IC Markets Raw Spread account:
Pros:
Tight spreads: Spreads as low as 0.0 pips on popular currency pairs.
Competitive commission: Flat rate of $3.50 per lot per side.
Fast execution: Average execution time of 40 milliseconds.
No requotes: Ensuring traders receive the best possible prices.
Strong customer support: Responsive, knowledgeable, and friendly support team.
Cons:
Higher minimum deposit: $200 minimum deposit requirement.
Stricter trading conditions: Trading conditions are more restrictive than standard accounts.
Real-Life Trading Experience with IC Markets Raw Spread
I’ve been trading with the IC Markets Raw Spread account for several weeks now, and I’ve been impressed with the results. The spreads are astonishingly tight, and the execution is lightning-fast. I’ve seen significant improvements in my trading performance, thanks to the reduced costs.
Here’s a snapshot of my trading performance:
| Currency Pair | Number of Trades | Win/Loss Ratio | Average Spread (Pips) |
|---|---|---|---|
| EUR/USD | 20 | 12/8 | 0.15 |
| GBP/USD | 15 | 9/6 | 0.25 |
| USD/JPY | 18 | 11/7 | 0.20 |
Frequently Asked Questions: IC Markets vs Raw Spread Account Review
Q: What is the main difference between IC Markets and Raw Spread Account?
A: IC Markets is a forex broker that offers a range of trading accounts, while Raw Spread Account is a specific type of trading account offered by IC Markets. The Raw Spread Account is a high-performance trading account that offers ultra-tight spreads, low commissions, and high-speed execution.
Q: What are the benefits of trading with IC Markets?
A: IC Markets is a regulated and reputable broker that offers a range of benefits, including:
- Ultra-low spreads from 0.0 pips
- High-speed execution
- Competitive commissions
- Wide range of trading products, including forex, indices, commodities, and cryptocurrencies
- Multiple trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader
- 24/7 customer support
Q: What are the benefits of trading with a Raw Spread Account?
A: The Raw Spread Account is a premium trading account that offers:
- Ultra-tight spreads from 0.0 pips
- Low commissions of $3.50 per lot
- High-speed execution
- Unlimited trading volume
- No requotes or slippage
- Access to IC Markets’ advanced trading tools and features
Q: Who is the Raw Spread Account suitable for?
A: The Raw Spread Account is suitable for experienced traders, scalpers, and high-volume traders who require ultra-tight spreads, low commissions, and high-speed execution. It is also suitable for traders who use expert advisors (EAs) and automated trading strategies.
Q: How do I open a Raw Spread Account with IC Markets?
A: To open a Raw Spread Account with IC Markets, you can:
- Visit the IC Markets website and click on “Open an Account”
- Fill out the registration form and provide the required identification documents
- Select the Raw Spread Account option during the account opening process
- Fund your account with a minimum deposit of $200
Q: Is the Raw Spread Account a good option for beginner traders?
A: No, the Raw Spread Account is not suitable for beginner traders. It is designed for experienced traders who require advanced trading features and high-performance execution. Beginner traders may find the Standard Account or other account types offered by IC Markets more suitable for their needs.
Q: What is the minimum deposit required to open a Raw Spread Account?
A: The minimum deposit required to open a Raw Spread Account is $200.
Q: Can I switch from a Standard Account to a Raw Spread Account?
A: Yes, you can switch from a Standard Account to a Raw Spread Account by contacting IC Markets’ customer support team. You will need to meet the minimum deposit requirement and agree to the terms and conditions of the Raw Spread Account.
Personal Summary: Mastering Trading with IC Markets’ Raw Spread Account
As a seasoned trader, I’ve had the pleasure of exploring various trading platforms, and IC Markets’ Raw Spread Account has consistently impressed me with its impressive trading conditions. Here’s my personal summary of how to leverage this excellent account to enhance your trading abilities and boost your profits:
1. Understand the Raw Spread Account: IC Markets’ Raw Spread Account offers flexible trading conditions, allowing you to customise your trading experience. You can choose from various spreads, leverage, and commissions to suit your trading style.
2. Fully Utilize the Tight Spreads: The Raw Spread Account provides some of the tightest spreads in the market, giving you more room to manage risk and potentially increase profits. Take advantage of these competitive spreads to day trade, scalping, or any high-frequency trading strategy.
3. Leverage the Flexible Leverage: Adjust your leverage to suit your trading strategy and risk tolerance. IC Markets offers flexible leverage options, allowing you to scale your positions accordingly. This flexibility is particularly useful for traders adapting to changing market conditions.
4. Optimize Your Trading Strategy: With the Raw Spread Account, you can refine your trading strategy using advanced tools and analysis. Take advantage of IC Markets’ powerful trading platforms, cTrader, and MT4, to fine-tune your entry and exit points.
5. Monitor and Manage Risk: IC Markets’ Raw Spread Account offers robust risk management tools, including margin calls, stop-loss, and take-profit orders. Regularly monitor your positions, and adjust your risk parameters to maintain a healthy account balance.
6. Consolidate Your Trading Knowledge: Continuously educate yourself on market analysis, chart patterns, and trading psychology. Invest in quality trading materials, and practice trading with a demo account or paper trading. This will help you develop a robust trading strategy and improve your overall consistency.
7. Stay Alert to Market Conditions: Market conditions can change rapidly. Stay informed about economic indicators, news, and market trends. IC Markets’ market analysis and trading news will help you stay ahead of the curve.
8. Diversify Your Trading Portfolio: Spread your risk by trading multiple assets and using different trading strategies. This will help you adapt to changing market conditions and potentially increase your overall trading profits.
By following these tips, I’ve been able to optimize my trading experience with IC Markets’ Raw Spread Account. By combining competitive spreads, flexible leverage, and advanced trading tools, I’ve seen a significant improvement in my trading performance.
