Who is IC Markets? The company was founded in with the vision of providing fair and transparent forex trading to active traders. IC Markets is dedicated to bring retail investors and traders in Australia and abroad solutions previously only available to professionals and large global investment banks. IC Markets is a privately owned Australian based company with headquarters in Sydney. IC Markets management team is comprised of individuals with over 20 years experience in derivate products.
IC Markets complies with ASIC capital adequacy requirements and conducts ongoing compliance audits of internal procedures and risk management. Both banks are AA rated Australian banks. IC Markets does not charge a commission on standard accounts but instead marks up the spread by 1 pip above the Inter-bank rate received from our liquidity providers. What is the minimum amount needed to open a trading account? What leverage does IC Markets offer?
IC Markets offer flexible leverage options ranging from 1: You can change the leverage on your trading account by completing our change of leverage request form. Can I have multiple trading accounts with IC Markets? IC Markets allows you to open multiple trading accounts. In order to open an additional trading account you must complete the additional account request form available on our website. What time does IC Markets open and close its prices? What time does IC Markets Rollover occur?
The table below outlines the dates on which the server time is changed to reflect daylight savings each year. Daylight saving time begins at 2 am on the second Sunday in March and ends at 2 am on the first Sunday in November.
What are the trading hours of Gold and Silver? Does IC Markets offer any Education? Webinar dates and times are published on our website. How many currency pairs does IC Markets offer?
How do I deposit money into my trading account? How long does it take for funds to appear in my live account? International wire transfers can take up to days. How do I withdraw money from my trading account? In order to withdraw funds from your trading account you are required to submit the withdrawal request form available on our website.
Withdrawals received before Can I withdraw more than my initial deposit by credit card? Yes, you are able to withdraw more than your initial deposit will be paid back to your credit card however you must provide your full credit card number to our accounts department in order for us to do so.
How do I open a live trading account with IC Markets? Opening an account is simple. What documents do I have to provide IC Markets to open a live trading account? Identification must be provided in the form of photo ID and proof of address to verify your identity. Do I earn interest on funds deposited into my live trading account? IC Markets does not accept US clients. IC Markets complies with International and Australian regulations. Is Scalping and Hedging allowed?
We encourage scalping and hedging. Our spreads and trading conditions are the preferred choice of many day traders and scalpers globally. If I am experiencing problems trading can I place an order over the phone? IC Markets support is available 24 hours a day, 5 days a week. If you are experiencing problems placing trades you can place an order over the phone.
If I stop trading will I be charged an inactivity fee? Are Demo Accounts the same as Live Accounts? Both Demo and Live accounts have the same price feed, however it is not possible to replicate a real trading environment on a Demo account due to technical limitations.
Trades placed on demo accounts are not passed into the real market and therefore their execution will not directly comparable to trades placed on a Live account.
Forex trading is the simultaneous buying of one currency and selling of another. How do I make money trading Forex? Making money trading forex involves buying lower and selling higher or selling higher and buying back lower, using leverage means that you are able to deposit a smaller amount of money to achieve the same buying power as you would have if your bought and sold the currencies outright. Mary decides to BUY 0. Marys profit is calculated as 1.
As Mary opened a position of 0. As Marys positions size was 0. Is the Forex Market a fair market? Forex is said to be one of the fairest and most transparent markets on earth this is mainly because of the large amount of market participants and sheer size and number of transactions.
There is not one single country or bank that can completely control the direction of a currency. Where is the Forex Market located? There is no one central location of the Forex Market, unlike the stock and futures markets Forex is not traded on an exchange but it is traded on an Over-the-Counter OTC basis with no central exchange between Banks, Governments, hedge funds and private investors.
The forex market is open 24 hours a day 5 day per week. Who are the main participants in the Forex Market? The main participants in the Forex Market are Central Banks, Commercial Banks and Investment Banks, however in recent years since the advent of the internet accessibility to the Forex Markets has increased which has resulted in an increase in the number of participants. When does the Forex Market open and close? The Forex Market is a 24 hour market, Forex trading commences in Wellington, New Zealand and moves around the globe as business days begin in each financial centre.
The major global financial centres where most forex trading takes place are Tokyo, London and New York. The forex market opens on Sunday at What are the most popular Forex pairs? The most liquid currency pairs are those from countries with politically stable governments and well respected central banks. What makes exchange rates move? There are a variety of fundamental and technical aspects that can cause an exchange rate to move. The most notable influences include interest rates, inflation and political stability.
This is known as Central Bank intervention and can have a significant impact on the value of a currency. Given the size and diversity of participants there is not one single factor that can influence the forex market for any significant length of time. How do I manage risk when trading Forex? There are a variety of risk management strategies that forex traders can use.
The most common form of risk management is the use of stop loss and limit orders. Stop loss orders can be set within the MetaTrader 4 platform and are often used force the closure of a position at a predetermined price in order to limit any potential loss. Limit order work in much the same way as Stop loss orders however they allow a restriction to be placed on the maximum price paid. What is the best trading strategy to use when trading Forex? Forex Traders use a variety of trading strategies based on technical and fundamental analysis.
These days technical trading is becoming increasingly popular traders are using a variety of technical indicators such as trend lines, support and resistance levels and numerous other methods to identify short to medium term trading opportunities.
Some traders choose to use fundamental analysis which revolves around interpreting economic information including news, government reports and sometimes even rumour. Often it is however elements outside of technical and fundamental analysis that have the most dramatic effect on currency prices, this includes events such as Central Bank intervention, interest rate changes, political change or even war.
Is trading the forex market expensive? It is however important to remember that although trading on leverage can maximise profits it can also amplify losses.
Why can I not see all the currency pairs and CFDs? Please read our MetaTrader 4 error code guide for which outlines common MetaTrader 4 error messages. I want to change the time on my charts, can I do this? The chart time on MetaTrader 4 reflects the server time, this time cannot be changed.
There are however some indicators and expert advisors which can assist with this. Where can I find information about the swap rates? Swap rates can be found within the MetaTrader 4 platform, simply go to the market watch and right click on an instrument and select symbols. A new window will then open, here you select the currency pair and click on the properties button and the swap rates will be displayed.
Why do my swap rates triple for positions held over roll-over on a Wednesday? If you hold open a position over Wednesday night the amount added or subtracted to your account as a result of the swap rate charged is three times the usual amount. Triple swap rates are charged in the roll-over period on Wednesday night to account for the settlement of trades over the weekend where no swap rates are charged due to the market being closed.
Why can I not log into my demo account? IC Markets demo accounts do not expire however if you forget your username or password you can open a new demo account from within the MetaTrader 4 terminal.More...