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IC Markets Review

IC Markets Review

Updated : May 27, 2024

Jump to:

Overview

Regulation and Safety of Funds

Awards and Recognition

Account Types and Features

Account Registration

Broker Comparison

Trading Platforms

Range of Markets

Fees

Deposit and Withdrawels

Education and Research

Bonuses and Promotions

Affiliate Programs

Customer Support

Social Responsibility

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

200 USD / 3,143,030 IDR

Regulators

ASIC, CySEC, FSA, SCB

Trading Desk

MetaTrader 4, MetaTrader 5, cTrader, IC Social, Signal Start, ZuluTrade

Crypto

Yes

Total Pairs

65

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Overview

Overview

 

IC Markets is an Australian firm and leading online retail forex and CFD brokerage that caters to several types of traders, including those in Indonesia.  

 

IC Markets aims to make trading resources accessible to all traders, breaking down traditional barriers that other brokers still struggle with.  

 

Overall, Indonesian traders find IC Markets a reliable partner due to its transparency, agility, and compliance with financial regulations. 

 

Furthermore, IC Markets’ Electronic Communication Network (ECN) model offers transparency, tighter spreads, and faster execution times, catering to Indonesian traders’ variable trading objectives and strategies.  

 

IC Markets also provides VPS services and support for algorithmic trading, catering to the needs of auto-trading systems and Indonesian scalpers. 

 

The platform offers educational resources for traders at all levels, including webinars, tutorials, and articles. In addition, IC Markets’ multilingual customer support is available 24/7, ensuring seamless support to Indonesians.  

 

Since 2009, IC Markets has grown into a global leader in forex and CFD trading, with over 200,000 active traders and a monthly trading volume exceeding $1.39 trillion.  

 

 

 

What differentiates IC Markets from other brokers? 

IC Markets stands out for its True ECN approach, which provides transparency, narrow spreads, and quick execution times to Indonesian traders. 

 

Can Indonesian traders contact customer support at any time? 

Yes, IC Markets offers 24-hour multilingual customer assistance to Indonesian traders with questions or concerns. 

At a Glance

🗓 Established Year2007
⚖️ Regulation and LicensesASIC, CySEC, FSA, SCB
🪪 Ease of Use Rating5/5
🚀 BonusesNone
⏰ Support Hours24/7
📊 Trading PlatformsMetaTrader 4, MetaTrader 5, cTrader, IC Social, Signal Start, ZuluTrade
💻 Account TypescTrader, Raw Spread, Standard
💰 Base CurrenciesAUD, USD, JPY, EUR, NZD, SGD, GBP, CAD
📈 SpreadsFrom 0.0 pips EUR/USD (Raw Spread Account)
📉 Leverage1:1000
💸 Currency Pairs64+
💳 Minimum Deposit3.1 million IDR ($200)
🛑 Inactivity FeeNone
📞 Website LanguagesEnglish, Spanish, Russian, Thai, Malay, Vietnamese, Italian, Portuguese, and several others
✔️ Fees and CommissionsSpreads from 0.0 pips, commissions from $3.5
✅ Affiliate ProgramYes
🚫 Banned CountriesUnited States, Canada, Iran, Yemen, and OFAC countries
👨‍💻 ScalpingYes
👥 HedgingYes
🏦 Trading InstrumentsForex, Commodities, Indices, Bonds, Cryptocurrencies, Stocks, Futures
🎉 Open an accountOpen Account

Regulation and Safety of Funds

Regulation and Safety of Funds

 

IC Markets is a global financial services company that prioritizes the protection of Indonesian clients’ funds and personal information.  

 

Despite not being regulated in Indonesia, IC Markets adheres to international financial standards through regulatory bodies like ASIC and CySEC. Client funds are kept separate from operating funds in segregated accounts to prevent misuse and provide additional protection in case of insolvency.  

 

Furthermore, IC Markets uses strong encryption methods to protect sensitive online data. The company’s servers are housed in the LD5 IBX Equinix Data Centre in London, known for its robust security measures.  

 

This structure ensures a resilient trading environment against internet attacks and faster execution. However, traders should note that IC Markets does not offer specific regulatory protection for Indonesia. 

 

Regulation in Indonesia 

The Commodity Futures Trading Regulatory Agency (BAPPEBTI/CoFTRA) does not regulate IC Markets. However, IC Markets’ global regulations are listed in the table below. 

 

Global Regulations 

⚖️ Registered Entity🏦 Country of Registration🪪 Company Reg.✅ Regulatory Entity🛍 Tier🤝 License Number/Ref
Raw Trading LtdSeychellesFSA3SD018
International Capital Markets Pty Ltd.AustraliaCAN 123 289 109ASIC1AFSL 335692
IC Markets EU LtdCyprusCySEC2362/18
IC Markets LtdBahamas76823 CSCB3SIA-F214

 

Protection of Client Funds 

🚫 Security Measure🪪 Information
Segregated AccountsYes
Compensation Fund MemberNo, in-house insurance
Compensation Amount$1 million
SSL CertificateNo
2FA (Where Applicable)No
Privacy Policy in PlaceYes
Risk Warning ProvidedYes
Negative Balance ProtectionYes
Guaranteed Stop-Loss OrdersNo

 

Does IC Markets provide deposit insurance for Indonesian traders?  

No, they don’t. However, while IC Markets does not provide deposit insurance, it does give additional protection through excess loss insurance, which covers up to $1 million per client in the unlikely case of insolvency. However, we urge Indonesians to confirm eligibility with IC Markets. 

 

What actions does IC Markets take to avoid fraud among Indonesian traders?  

IC Markets has strong anti-money laundering (AML) and Know Your Customer (KYC) protocols that authenticate Indonesian clients’ identities and prevent fraudulent activity. 

Awards and Recognition 

Awards and Recognition 

 

IC Markets has been acknowledged for its exceptional performance in several areas, which showcases its commitment to providing clients with exceptional value. Here are the most recent awards and recognitions: 

➡️According to our findings, the IC Your Trade podcasts and branded business show were particularly impressive, and the firm was honoured for them by Signal Awards.  

➡️Additionally, in 2024, ForexBrokers.com recognized IC Markets as the Best in Class in the Commissions & Fees category, further demonstrating the company’s dedication to keeping trading expenses and prices low for clients. 

➡️On top of that, IC Markets’ podcast is now one of the 25 most popular podcasts on Spotify. This accomplishment highlights its crucial role in disseminating insightful trade information to a broad audience.

IC Markets Account Types 

cTraderRaw SpreadStandard
✔️ AvailabilityAll traders; only available on cTraderAll; ideal for scalpers, day traders, active tradersAll; ideal for beginners and casual traders
💵 MarketsAllAllAll
💰 Commissions$3 per side, $6 per round turn$3.5 per side, $7 per round turnNone; only the spread is charged
💻 PlatformscTraderMetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5
🔨 Trade SizeFrom 0.01 lots – 2,000 lotsFrom 0.01 lots – 200 lotsFrom 0.01 lots – 200 lots
📊 Leverage1:10001:10001:1000
💸 Minimum Deposit3.1 million IDR3.1 million IDR3.1 million IDR
👉 Open an accountOpen AccountOpen AccountOpen Account

 

cTrader Account 

The IC Markets cTrader Account provides Indonesians with a sophisticated trading experience via a platform noted for its quick execution and extensive charting capabilities.  

 

This account is ideal for those participating in high-volume trading, automated strategies, and scalping.  

 

Furthermore, IC Markets’ cTrader Account offers Level II pricing with easy access and exit locations. Its low fee structure, designed to accommodate large position sizes, encourages aggressive day trading. 

 

Raw Spread Account 

The IC Markets Raw Spread Account is an excellent alternative for Indonesian traders who want low spreads and cost-effective trading.  

 

Indonesians can access the MetaTrader suite using this account. It offers some of the lowest spreads available, beginning at 0.0 pips.  

 

Furthermore, the account’s pricing structure is straightforward, with a commission payable for each transaction. This IC Markets account is ideal for high-frequency traders prioritizing narrow spreads in their trading techniques. 

 

Standard Account 

The Standard Account at IC Markets has a more conventional approach, which appeals to Indonesian traders who are unaccustomed to forex.  

 

This account has no commission charges; all expenses are included in the spread. Its user-friendly interface and the MetaTrader platforms’ analytical capabilities make it a good alternative for people looking for simplicity and clarity in their trading. 

 

Demo Account 

Indonesian traders can utilize the IC Markets Demo Account to develop their trading abilities in a risk-free environment.  

 

This account resembles real-market circumstances and is live indefinitely, expiring only after a month of inactivity. Furthermore, the demo account is an excellent opportunity for traders to get familiar with the platforms and test strategies using virtual funds that can be reset anytime. 

 

Islamic Account 

IC Markets’ Islamic Account adheres to Sharia law by removing swap costs on overnight holdings, meeting the demands of Indonesia’s Muslim trading community.  

 

IC Markets’ Swap-Free Account provides sophisticated features and execution speeds comparable to traditional accounts, guaranteeing that ethical concerns do not jeopardize the efficiency and competitiveness of a trader’s operations. 

 

Professional Account 

The IC Markets Professional Account is meant for professional traders in Indonesia who are actively participating in the financial market.  

 

This account provides specific conditions designed to fulfil the needs of experienced traders who often participate in high-volume trading.  

 

Furthermore, Indonesians who qualify for this account can benefit from larger leverage ratios, which give them more flexibility in their trading strategies.  

 

In addition, the account guarantees negative balance protection, which reduces the danger of losses surpassing the original investment. 

 

While the Investor Compensation Fund does not insure this account, Indonesian professional traders can still use the platform’s specialized support and sophisticated features.  

 

Overall, this guarantees that professionals have access to the tools and resources they need to navigate the markets successfully. 

 

What is the minimum deposit required to open an IC Markets account? 

The minimum investment required to create an IC Markets account is 3.1 million IDR (about $200). 

 

Is there any limit on trading instruments depending on account type? 

No, all IC Markets account types provide the same trading instruments and products, offering equal chances for Indonesian traders. 

How To Open an IC Markets Account 

To register an account with IC Markets, follow these steps: 

 

Step 1 – Click on the Sign up button.

To start with IC Markets, visit their official website and look for the “Sign Up” banner on the homepage. 

How To Open an IC Markets Account Step 1

 

Step 2 – Fill out the form.

Next, choose the account type that aligns with your trading objectives or needs, such as the Standard, Raw Spread, and cTrader accounts. Once you have decided on an account type, complete the online application form. Provide your personal information, such as your name, address, date of birth, and contact information. They will also inquire about your trading background and financial understanding. 

How To Open an IC Markets Account Step 2

 

Step 3 – Submit your documents.

Next, submit the required documents for verification, including your proof of identity and residential address. After submitting your documents, IC Markets will review them, which could take a few days.  

IC Markets vs. Octa vs. JustMarkets – Broker Comparison

IC MarketsOctaJustMarkets
⚖️ RegulationASIC, CySEC, FSA, SCBCySEC, SVG FSACySEC, FSCA, FSA, FSC
📱Trading PlatformMetaTrader 4
MetaTrader 5
cTrader
TradingView
MetaTrader 4
MetaTrader 5
OctaTrader
Octa App
MetaTrader 4
MetaTrader 5
JustMarkets App
💰 Withdrawal FeeNoNoNone
📊 Demo AccountYesYesYes
📈 Min Deposit3.2 million IDR ($200)405,000 IDR ($25)162,000 IDR ($10)
📈 Leverage1:10001:500Up to 1:3000
📊 SpreadFrom 0.0 pips0.6 pipsFrom 0.0 pips
💰 CommissionsFrom $3 to $3.5None$6 per lot traded
✴️ Margin Call/Stop-Out100%/50%25%/15%40%/20%
✴️ Order ExecutionMarketMarketMarket
💳 No-Deposit BonusNoNoYes
📊 Cent AccountsNoNoYes
📈 Account TypescTrader Account
Raw Spread Account
Standard Account
OctaTrader Account
Octa MetaTrader 4
Octa MetaTrader 5
MT4 Standard Cent Account
MT4 Standard Account
MT4 Pro Account
MT4 Raw Spread Account
MT5 Standard Account
MT5 Pro Account
MT5 Raw Spread Account
⚖️ BAPPEBTI RegulationNoNoNo
💳 IDR DepositsNoNoYes
📊 IDR AccountNoNoYes
👥 Customer Service Hours24/724/724/7
📊 Retail Investor Accounts337
☪️ Islamic AccountYesYesYes
📉 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade SizeUnlimited500 lots100 lots
💸 Minimum Withdrawal TimeInstant1 – 3 hours1 – 3 hours
💰Maximum Estimated Withdrawal TimeUp to 14 business days1 – 3 hours6 banking days
📞 Instant Deposits and Instant Withdrawals?Yes, on PayPal, Neteller, and SkrillYes, DepositsYes, Deposits
🎉 Open an accountOpen AccountOpen AccountOpen Account

Trading Platforms and Software 

Trading Platforms and Software 

 

MetaTrader 4 (MT4) 

MetaTrader 4 is popular among Indonesian traders who are new to forex and CFDs with IC Markets. It offers sophisticated charting tools, technical analysis features, and automated trading via Expert Advisors.  

 

IC Markets uses the MT4 platform for swift execution and access to deep liquidity, improving the trading experience. This platform aligns with IC Markets’ emphasis on technology and customer empowerment. 

 

MetaTrader 5 (MT5) 

MetaTrader 5 is the successor to MT4, offering enhanced trading and technical analysis features. Indonesian traders can enjoy economic calendar integration, extended analysis periods, and more indicators.  

 

Furthermore, IC Markets offers a seamless experience with MT5, allowing access to equities and commodities. The platform’s powerful trading order system and extensive analytical tools cater to contemporary traders’ diverse demands. 

 

cTrader 

cTrader is a powerful yet user-friendly trading platform by IC Markets, ideal for Indonesian traders seeking superior trade management and charting features.  

 

Furthermore, cTrader’s Level II pricing and fast order execution align with IC Markets’ commitment to speed and transparency. cTrader supports algorithmic trading, improving technical traders’ experience and catering to novice and expert traders. 

 

ZuluTrade 

ZuluTrade has a beneficial partnership with IC Markets, offering a dynamic social trading platform that enhances trading with shared information and collective experience.  

 

This platform caters to Indonesians who appreciate a community-driven approach. Furthermore, IC Markets’ ZuluTrade offers diverse trading methods from a worldwide network.  

 

IC Markets and ZuluTrade combine social trading conveniences with sophisticated trading infrastructure, offering technology, cost-efficiency, and collective knowledge. 

 

Signal Start 

IC Markets’ Signal Start service delivers complex signals for Indonesians who want insights from experienced traders.  

 

With a flexible choice of signal providers, this platform allows for a diversified trading approach, which is advantageous for Indonesian traders trying to improve their trading with insights from other trading styles and marketplaces.  

 

Furthermore, IC Markets’ integration of Signal Start underscores the broker’s dedication to providing complete trading solutions that suit clients’ preferences and trading needs. 

 

IC Social 

IC Social is a cutting-edge platform that uses community insights and collaborative trading, aligning with IC Markets’ forward-thinking approach. 

 

Furthermore, IC Markets benefits Indonesian traders who are seeking social trading features like sharing methods, following experienced traders, and replicating transactions. IC Markets incorporates this experience into their products to foster a networked approach among traders. 

 

Are there any platform costs for using the IC Markets trading software? 

IC Markets does not charge platform fees to Indonesian traders and provides their trading platforms and tools free. 

 

Are there any restrictions on simultaneous positions that Indonesian traders can make on IC Markets’ platforms? 

No, IC Markets does not limit the number of simultaneous transactions for Indonesian traders, allowing them to manage several positions simultaneously. 

 

Trading Instruments & Products 

Trading Instruments & Products 

 

IC Markets offers the following trading instruments and products: 

➡️Stocks – IC Markets offers more than 1,600 equities on worldwide exchanges. This wide range lets Indonesian investors trade shares of firms in various major industries and geographical areas, capitalizing on possible growth and profit possibilities. 

➡️Futures – IC Markets offers four futures contracts to Indonesian traders who want to hedge against future price fluctuations. This asset class is useful for those interested in long-term price movements in commodities and indexes. 

➡️Bonds – IC Markets provides eleven distinct bond securities. This asset class appeals to Indonesia’s risk-averse investors because it lets them invest in government debt, which typically presents a lower risk than equities. Furthermore, bonds also provide Indonesians with a consistent revenue source from which they can earn interest payments. 

➡️Commodities – IC Markets offers Indonesian traders a choice of 22 commodities, allowing them to diversify their investment portfolios. These commodities include hard (metals and energy) and soft (agricultural items) trading options. Indonesians can utilize these commodities to hedge risks or capitalize on market fluctuations in physical marketplaces. 

➡️Indices – Indonesian traders can trade 25 global indices as CFDs on IC Markets. This lets traders speculate on general market movements in various regions because indices represent the performance of a collection of companies and give a complete perspective of certain market categories. 

➡️Cryptocurrencies – IC Markets provides 18 cryptocurrency CFD options, including Bitcoin and Ethereum, as well as other digital currencies. Indonesians can trade several crypto coins against fiat currencies, benefiting from the asset class’s dynamic price fluctuations without owning the underlying asset. 

➡️Forex – Indonesian traders can access 64 currency pairs, including major, minor, and exotic currencies, excluding IDR pairs. This diverse range lets Indonesians participate in the Forex market, which is suitable for various trading methods, including short-term speculation and long-term investing plans. 

 

Can Indonesian traders use leverage when trading on IC Markets? 

Indonesian traders can use leverage of up to 1:1000 when trading forex currency pairs and other chosen instruments, increasing their trading opportunities. 

 

Are exotic currency pairings like USD/IDR accessible for trading on IC Markets? 

IC Markets offers exotic currency pairs but does not specifically offer USD/IDR or other currency pairs containing IDR, which might limit Indonesian traders. 

IC Markets Spreads and Fees 

IC Markets Spreads and Fees 

 

Spreads 

Indonesian clients can benefit from extremely low variable spreads, particularly when trading major currency pairs with an IC Markets account. 

 

For example, the average spread for the EUR/USD pair can be as tight as 0.1 pips, ranking among the lowest in the world.  

 

Furthermore, the IC Markets Raw Spread Account allows you to trade tight spreads on the MetaTrader and cTrader platforms. In contrast, the Standard Account has spread from 0.8 pips, making it an appealing option for Indonesians who want to avoid commission fees. 

 

Commissions 

IC Markets charges commissions on Forex and Precious Metals trades through the Raw Spread Account. For example, trading with a USD account costs $3.50 per lot for every 100,000 currency units traded (standard).  

 

Furthermore, the commission for a EUR account is slightly lower, demonstrating IC Markets’ commitment to providing affordable trading choices for serious investors. 

 

Overnight Fees 

Indonesian traders must note that overnight fees from IC Markets are charged or credited when positions open overnight.  

 

IC Markets determines swap rates using the interest rate differentials between the two currencies involved in the transaction.  

 

Indonesians, especially those with strategies where positions are held for longer than a trading day, must note that these rates can fluctuate and result in higher profits or increased fees, depending on the direction of the position and the instrument being traded.  

 

Indonesians who require more information on IC Markets’ swap fees can view these updated rates on the IC Markets website or their corresponding trading platform. 

 

Deposit and Withdrawal Fees 

IC Markets does not charge any additional costs for depositing or withdrawing funds. However, when Indonesians perform foreign bank transfers or transactions, they should remember that financial institutions can charge additional fees. 

 

Inactivity Fees 

IC Markets stands out for its trader-friendly strategy, which does not charge inactivity fees, ensuring that Indonesians are not penalized for leaving their accounts inactive. This is especially beneficial for Indonesians who prefer long-term strategies. 

 

Currency Conversion Fees 

While IC Markets does not explicitly charge currency conversion fees, trading in a currency other (like IDR) than your account’s base currency can result in conversion fees imposed by the payment providers or financial institutions engaged in the transaction. 

 

Are there any hidden costs for trading on IC Markets? 

IC Markets is transparent about the cost structure, ensuring Indonesian traders are informed of any relevant fees, such as spreads, commissions, and overnight financing charges, before entering trades. 

 

Can Indonesian traders see real-time spreads on IC Markets’ trading platforms? 

Yes, IC Markets’ trading platforms include real-time spread data, allowing Indonesian traders to make educated trading decisions based on current market conditions and pricing.

Overall Rating

Min Deposit

200 USD / 3,143,030 IDR

Regulators

ASIC, CySEC, FSA, SCB

Trading Desk

MetaTrader 4, MetaTrader 5, cTrader, IC Social, Signal Start, ZuluTrade

Crypto

Yes

Total Pairs

65

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

IC Markets Deposit & Withdrawal Options 

IC Markets Deposit & Withdrawal Options 

 

📚 Payment Method🌎 Country💸 Currencies Accepted⏰ Processing Time
Credit CardAllAUD, USD, JPY, EUR, NZD, SGD, GBP, CADInstant – 5 days
Debit CardAllAUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHFInstant – 5 days
PayPalAllUSD, AUD, GBP, EUR, CAD, SGD, JPYInstant
NetellerAllAUD, GBP, EUR, CAD, SGD, JPYInstant
Neteller VIPAllAUD, GBP, EUR, CAD, SGD, JPYInstant
SkrillAllAUD, USD, JPY, EUR, SGD, GBPInstant
UnionPayChinaRMBInstant
Bank Wire TransferAllAUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, CHF2 – 14 days
BpayAustraliaAUD12 hours – 3 days
FasaPayAllUSDInstant – 5 days
Broker to BrokerAllAUD, USD, JPY, EUR, NZD, SGD, GPB, CAD, CHF, HKD2 – 5 days
POLiAustraliaAUDInstant – 3 days
Thai Internet BankingThailandUSD15 minutes – 1 day
Vietnamese Internet BankingVietnamUSDInstant – 1 day
RapidpayAllEUR, GBPInstant – 5 days
KlarnaAllEUR, GBPInstant – 5 days

 

Deposits 

How to Deposit using Bank Wire Step by Step 

✅Log in to the Secure Client Area. 

✅Go to the ‘Funds’ area and choose ‘Deposit’. 

✅Choose ‘Bank Wire Transfer’ as your deposit option. 

✅You will be given the bank information required to complete the wire transfer, including the broker’s account information. 

✅Deposit from your bank and give your IC Markets trading account number for correct allocation. 

✅Keep evidence of the transaction for your records. 

 

How to Deposit using Credit or Debit Card Step by Step 

✅Visit the website and access the Secure Client Area. 

✅Go to ‘Funds’ and click ‘Deposit.’ 

✅Choose ‘Credit/Debit Card’ from the available deposit options. 

✅Enter your deposit amount and provide your credit card information. 

✅Follow any extra verification steps specified by your card issuer. 

 

How to Deposit using e-Wallets or Payment Gateways Step by Step 

✅Log in to your Secure Client Area. 

✅Select ‘Funds’ and then ‘Deposit.’ 

✅Select the e-wallet or payment gateway. 

✅You will be redirected to the payment service’s login page. 

✅Log in and confirm your deposit. 

 

Withdrawals 

How to Withdraw using Bank Wire Step by Step 

✅Enter the Secure Client Area and choose ‘Withdraw.’ 

✅Select ‘Bank Wire Transfer’ as your method. 

✅Complete the withdrawal form with your bank information and amount. 

✅Submit your request. 

 

How to Withdraw using Credit or Debit Cards Step by Step 

✅Navigate to the ‘Funds’ area of the Secure Client Area and click ‘Withdraw.’ 

✅Select ‘Credit/Debit Card’ as your withdrawal method. 

✅Enter the amount and choose the appropriate card (if several were used for deposits). 

✅Confirm and submit your request. 

 

How to Withdraw using e-Wallets or Payment Gateways Step by Step 

✅In the Secure Client Area, choose ‘Funds’ and ‘Withdraw.’ 

✅Select the e-wallet or payment gateway you used to deposit. 

✅Provide the amount you want to withdraw. 

✅Confirm and submit the withdrawal request. 

 

Does IC Markets levy withdrawal fees? 

IC Markets does not impose withdrawal fees for Indonesian traders, although third-party payment processors typically charge additional costs. 

 

Is there a limit on the maximum deposit amount for IC Markets accounts? 

IC Markets has no maximum deposit limitations, allowing Indonesian traders to fund their accounts according to their trading needs and preferences. 

Leverage and Margin 

Leverage and Margin 

 

IC Markets offers Indonesian traders a choice of leverage options, ranging from 1:1 to 1:1000. This flexibility allows traders to boost their impact in the forex market by managing a greater position than their account balance would otherwise allow.  

 

The primary notion behind leverage is that it helps traders to handle positions with a smaller margin. However, traders must exercise caution when utilizing leverage since it can compound both wins and losses. 

 

IC Markets’ margin requirements are determined by several factors, including the leverage used, the transaction amount, and the current market conditions.  

 

Furthermore, Indonesians must have a certain account balance to fulfil the margin requirements of their current positions.  

 

Indonesians must note that if the equity in their account falls below 50% of the required margin, IC Markets will implement a margin stop-out policy, which means that positions will be closed automatically to avoid more losses. 

 

Can Indonesian traders change their leverage levels on the IC Markets trading platforms? 

Yes, Indonesian traders can alter their leverage levels within predetermined restrictions established by IC Markets, allowing them control over their risk exposure and trading methods. 

 

How does leverage affect margin requirements for Indonesian traders? 

Higher leverage levels on IC Markets reduce margin requirements for Indonesian traders, allowing them to handle larger positions with a smaller initial investment. 

Educational Resources 

Educational Resources 

 

IC Markets offers the following educational resources: 

➡️Getting Started (10 lessons) – This course, created exclusively for Indonesian beginner traders, thoroughly introduces forex and CFD trading. In addition, these lessons cover the fundamentals of market activities, analysis, and the concepts of effective trading methods, giving beginners a solid platform on which to grow and improve their trading. 

➡️Advantages of Forex – Traders can easily learn about the market’s distinctive qualities, such as strong liquidity, a 24-hour trading cycle, and leverage options. This section sheds light on the various benefits of the forex market, particularly for Indonesians interested in making profitable returns. 

➡️Advantages of CFDs – Indonesians can learn about the versatility of CFD trading, which offers margin trading and access to diverse marketplaces. This enables traders to take positions on global indexes, commodities, and equities without holding the underlying assets, providing diversification opportunities. 

➡️Web TV – provides live market research and updates through streaming material. This service keeps Indonesians updated on the latest market trends and news, which is critical for making quick but informed decisions in a fast-paced trading environment. 

➡️Webinars –  These workshops, led by industry professionals, offer various subjects appropriate for Indonesian traders and investors of all skill levels. Furthermore, there is something for everyone, from beginner-friendly lectures to in-depth talks on advanced trading methods, economic events, and market projections. 

➡️Trading Knowledge – This collection of materials is a valuable source of knowledge, providing useful insights into market analysis, trading psychology, risk management, and strategy creation.  

➡️Podcasts – Ideal for Indonesians on the go, podcasts offer easy access to informative material without sacrificing depth. Furthermore, IC Markets’ podcasts provide useful insights on various issues, including trading tactics, market circumstances, and financial news, whenever and wherever they are. 

➡️Video Tutorials – These visual learning aids are ideal for new and experienced Indonesian traders, covering everything from fundamental platform operations to sophisticated technical analysis. Furthermore, the videos present a systematic approach to understanding the trading platforms offered by IC Markets. 

 

Can Indonesian traders get live market research and updates from IC Markets’ instructional resources? 

IC Markets provides live market updates and analysis via Web TV, allowing Indonesian traders to make more educated trading decisions. 

 

Are there interactive learning possibilities in IC Markets’ educational resources? 

Yes, IC Markets hosts interactive webinars and seminars where Indonesian traders may connect with experienced traders and industry professionals, allowing for active learning and information sharing. 

Bonuses and Promotions 

Bonuses and Promotions 

 

We looked at what IC Markets offers Indonesian traders and discovered that, although there aren’t any direct sign-up incentives, there is a compelling chance for those who want to get affiliated with the firm.  

 

IC Markets invites active traders to become part of their affiliate network, which in Indonesia’s expanding forex industry may be highly lucrative. 

 

We found that the Raw Trader Rebates program is open to Indonesian affiliates and pays individuals who bring in new clients with IC Markets.  

 

As simple as it sounds, affiliates can make up to $1.50 for every standard lot referred clients trade on the Raw Spread account. When one considers Indonesia’s vibrant trading environment, this could lead to lucrative returns. 

 

There are layers to the commission system as well. This implies that your possible profits will increase with the transaction volume of your referrals. With this tier-based strategy, affiliates are encouraged to assist clients in becoming active traders and drawing in new traders.  

 

Overall, the IC Markets affiliate program allows Indonesians with a strong network and influence in the trading community a viable way to make extra money without depending on first bonuses or promotional offers. 

 

Does IC Markets provide any welcome benefits for Indonesian traders?  

No. IC Markets doesn’t currently have any sign-up or welcome bonuses for traders, including those from Indonesia. 

 

Can I earn a bonus for referring a friend from Indonesia to IC Markets?  

Yes. While not a direct incentive, IC Markets’ Raw Trader Rebates program allows Indonesian Introducing Brokers to receive commissions for referring clients, which could result in indirect advantages for the suggested traders. 

Affiliate Programs 

Affiliate Programs 

 

Features 

Having carefully examined the IC Markets affiliate program, we think it offers Indonesian traders a great opportunity. Anyone can work with this licensed broker through this scheme, guaranteeing a reliable, flexible, and secure trading experience. 

 

Several main advantages are present for Indonesian partners, including the following: 

➡️First, given Indonesia’s increasing interest in forex trading, the program’s commissions and unlimited referral potential are alluring.  

➡️It is also accessible and profitable because there are no sign-up costs, and affiliates can begin receiving daily profits after referring only five active clients. 

➡️By supporting regional currencies and payment options, the software also meets the demands of Indonesian traders, facilitating and expediting transactions.  

➡️The affiliate dashboard’s real-time information and customizable features let partners track their progress and successfully refine their referral plans. 

➡️IC Markets’ dedication to offering quick execution and low spreads allows traders referred by affiliates to take advantage of a competitive trading environment that improves their trading experience. 

How to Register an Affiliate Account with IC Markets Step-by-Step 

Here’s how Indonesians can sign up with IC Markets to become affiliates: 

 

Step 1 – Click on the Partner link.

From the IC Markets site, hover over the “Partners” tab at the top and click the link. 

How to Register an Affiliate Account Step 1

 

Step 2 – Choose the Apply button.

Examine the details of the IC Markets Affiliate Program, including revenue structures, payment terms, and marketing options accessible to partners. Click the “Apply Now” button to start the application process. 

How to Register an Affiliate Account Step 2

 

Step 3 – Fill out the form.

Complete the required personal information sections, including your full legal name as it appears on your official Indonesian identity documents. If you are registering as a business, please give your company’s legal name and registration number per Indonesian rules. 

Enter your Indonesian Tax Identification Number (NPWP), which is required according to Indonesian tax rules. 

How to Register an Affiliate Account Step 3

 

Step 4 – Choose a payment method.

Choose your preferred payment method from those available to Indonesian citizens and provide the appropriate account information. Please read the affiliate agreement carefully, check the box to indicate your comprehension and acceptance of the terms, and then click “Submit” to complete your application. 

 

Are there any special rules or limits for IC Markets affiliate partners in Indonesia?  

Yes. Indonesian affiliates must follow local rules and verify that their marketing operations conform with IC Markets’ terms and conditions. 

 

How are commissions distributed to IC Markets affiliate partners in Indonesia?  

IC Markets offers a variety of payment options, including bank transfers and e-wallets, to distribute commissions to eligible affiliates. 

Customer Support

Customer SupportIC Markets Customer Support
⏰ Operating Hours24/7
🗣 Support LanguagesPortuguese, English, Vietnamese, Chinese
👥 Live ChatYes
📱 Email AddressYes
📞 Telephonic SupportYes
✅ The overall quality of IC Markets Support4.3/5

 

Response Time 

📞 Support Channel⏰ Average Response Time👥 User-based Response Time
Phone5 minutes2 minutes
Email24 hoursSame-day
Live Chat5 minutes4 minutes
Social Media5 minutes2 – 3 minutes
Affiliate24 hoursSame-day

 

Are there any specific resources for Indonesian traders on the IC Markets website?  

Yes. IC Markets provides various educational tools, including webinars, articles, and tutorials, which are useful for Indonesian traders, even though these resources aren’t specifically directed at Indonesians or local markets. 

 

Can I receive specialized trading advice from IC Markets customer service in Indonesia?  

No, you can’t. While IC Markets customer support can provide general information and assistance, they don’t offer personalized financial or investment advice. 

Social Responsibility 

Social Responsibility

 

Looking through IC Markets’ website, we were unable to find any specifics on their CSR initiatives.  

 

Nevertheless, we presume that they participate in various CSR initiatives and community projects throughout the globe, given their stellar reputation as a trustworthy supplier of FX and CFD trading services on a global scale.  

 

From what we can see, well-known brokers typically make an effort to give back to the neighbourhoods where they have branches.  

 

While IC Markets mainly focuses on providing clients with competitive trading conditions, state-of-the-art technology, and outstanding service, it’s reasonable to assume that they also prioritize social responsibility, in line with industry standards. 

User Comments and Reviews 

Reading user comments and reviews on trusted sites gave us an idea of the type of broker IC Markets is, and can be, for Indonesians. While this is a useful resource, we urge Indonesians to conduct their research instead of relying solely on the reviews or comments of others.  

 

Here are a few top comments on IC Markets: 

➡️“Great customer care, really fast and accurate in providing support whenever it’s needed through live chat or mails.” 

➡️“I have been working with IC Markets for 3 years. I have to say that the service, reliability, and customer service are awesome. If there are some problems, they can always fix them in less than 10 minutes. Highly recommend a reputable broker. Looking forward to the future!” 

➡️“IC Market is by far the best broker in the industry, with the best spreads, top-notch customer service, super-fast money withdrawal within 24 hours, and the addition of Tradingview to their platform. I can only recommend it.” 

Top 10 Forex Brokers

Broker

Rating

Regulators

Min Deposit

Leverage

Website

1

8/10

ASIC, FSA

$100

1:400

2

9/10

FSCA, FSA, CySEC, FCA, CBCS, FSC (BVI), FSC

$10

1:20000

3

8.4/10

FSA, CySec, FSCA, FSC

$1

1:3000

4

8/10

FCA, IFSC, CySec, ASIC

$5

1:1000

5

8/10

FSCA, FSC, FSA

$10

1:400

6

8.7/10

FSCA, CySEC, FCA, DFSA, FSCA, CMA

$0

1:2000

7

8.5/10

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

$10

1:400

8

8.3/10

IFSC, FSCA, ASIC, CySEC

$1

1:1000

9

8.2/10

SVGFSA

$5

1:500

10

8.1/10

CySEC, ASIC, FSCA

$100

1:500

Top 10 Forex Brokers

Broker

Rating

Min Deposit

Leverage

1

8/10

$100

1:400

2

9/10

$10

1:20000

3

8.4/10

$1

1:3000

4

8/10

$5

1:1000

5

8/10

$10

1:400

6

8.7/10

$50

1:100

7

8.5/10

$10

1:400

8

8.3/10

$1

1:1000

9

8.2/10

$5

1:500

10

8.1/10

$100

1:500

Conclusion 

In our experience with this broker, IC Markets is becoming a popular alternative for Indonesians looking to enter Forex and CFD trading.  

 

Furthermore, they are recognized for having narrow spreads and a diverse choice of financial options, which helps Indonesians compete in the trading market.  

 

According to our findings, IC Markets adheres to strict international regulations and keeps clients’ funds separate, demonstrating their dependability and concern for security.  

 

IC Markets also offers tools to assist Indonesians in learning about and using various trading platforms, demonstrating that they care about all types of traders regardless of their trading experience. 

 

Our Insight

In my opinion, IC Markets is a good option for Indonesian traders. They offer flexible options to deposit and withdraw funds. They are also known for their comprehensive education and variety of trading tools, but they should consider offering an IDR-denominated account.

Our Recommendations on IC Markets

We believe that IC Markets can cater to various Indonesian traders because of its flexible solutions. However, given the Indonesian context, we have a few recommendations on how IC Markets can improve its overall offer: 

➡️Collaborate with Indonesian trading communities and forums to raise brand awareness and trust among local traders. 

➡️Adjust the current swap-free Islamic accounts to better serve Indonesia’s huge Muslim community, which follows Sharia-compliant banking practices. 

➡️Create seminars and articles in Bahasa Indonesia that discuss local market trends and trading tactics relevant to Indonesian traders. 

➡️We suggest IC Markets partners with prominent Indonesian payment providers such as Gopay, OVO, and Dana to make payments and withdrawals easier for local traders. 

➡️Consider providing customer service, educational resources, and website translation in Bahasa Indonesia to reach the bulk of the population. 

IC Markets Pros & Cons 

✅ Pros❌ Cons
Indonesians can expect tight spreads that start from 0.0 pips EUR/USDIC Markets does not offer an IDR-denominated account
Indonesians can choose from flexible options to deposit and withdraw fundsThere are no licenses held by IC Markets in Indonesia
Islamic Accounts are available, offering swap-free trading to Muslim tradersThere is an extremely high minimum deposit required to start trading with IC Markets

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Frequently Asked Questions 

Is IC Markets available in Indonesia? 

Yes, IC Markets allows clients from Indonesia. 

 

What can I trade with IC Markets? 

IC Markets offers traders a wide range of assets, including forex, commodities, indices, bonds, cryptocurrencies, stocks, and futures CFDs. 

 

How does IC Markets handle customer service for Indonesian clients? 

IC Markets provides multilingual customer assistance by email, phone, and live chat. You may need to converse in English to receive the most effective assistance. 

 

Where is IC Markets based? 

IC Markets is located in Sydney, Australia, and operates internationally, providing a stable and transparent trading environment across various financial markets. 

 

Does IC Markets have a local office in Indonesia? 

No, IC Markets does not have a physical office in Indonesia. Instead, IC Markets’ service is mostly provided online and through foreign offices. 

 

What is IC Markets’ minimum deposit? 

The minimum amount necessary to start a trading account with IC Markets is $200 (or 3.1 million IDR), which gives you access to various trading products and platforms. 

 

Is IC Markets Regulated in Indonesia?  

No, Indonesian authorities do not actively regulate IC Markets. However, IC Markets is subject to regulation by several other regulatory entities globally. 

 

Is IC Markets a safe broker? 

Yes, IC Markets is regarded as a safe broker for Indonesians since it is licensed by numerous prominent international authorities, including ASIC and CySEC, and uses rigorous security measures to secure customer funds. 

 

How long does IC Markets’ withdrawal take? 

Withdrawal periods at IC Markets vary. However, most are executed within one to five business days, depending on the withdrawal method. 

 

Does IC Markets provide Islamic or swap-free accounts? 

Yes, IC Markets provides Islamic accounts to Indonesians who adhere to Sharia law and do not suffer exchange fees. 

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