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HOW TO OPEN AN ACCOUNT AND DEPOSIT FUNDS?
ICMarkets is
one of the best brokers to trade in Forex through different trading platforms
and is currently one of the brokers that offer the lowest spreads and
commissions to its clients.
In today’s article, we are going to talk about ICMarkets, an
ideal broker for people who like to use scalping strategies, operate in the
currency market, with precious metals and CFD (Contracts for Difference) from
different markets. We highly recommend it because the spreads and commissions
they apply are very, very low compared to other online brokers
What
is ICMarkets?
ICMarkets was founded in Sydney, Australia during 2007 by a
group of professionals from the financial world, making this company one of
Australia’s leading CFD brokers. This broker works in different areas
worldwide, including CFD markets in Asia, Europe, and North America, but its
customers are even more varied, with investors from Latin American and Hispanic
countries such as Mexico, Colombia, Argentina, and Spain.
ICMarkets is authorized and regulated by the Australian Securities and Investment
Commission (ASIC), one of
the agencies responsible for protecting consumers and investors, through the
regulation of financial laws, This broker also has offices in Sydney and
Limassol. All transactions are carried out directly through the ECN and LPs
systems, so nobody else intervenes, not even the broker (there is no dealing
desk), creating a real and reliable interbank currency market.
On the other hand, as we mentioned at the beginning of this
article, this is one of the brokers that charge the lowest commissions and
spreads reaching 0.0 pips depending on the type of account. This is very
advantageous for traders who use scalping strategies and/or use high leverage.
Main
features of ICMarkets
ICMarkets
|
|
Broker type
|
ECN/STP
|
Trading instruments
|
Forex, precious
metals and CFD
|
Trading platforms
|
Metatrader 4,
Metatrader 5 and cTrader
|
Spreads
|
Low and variable
spreads from 0.0 pips
|
Maximum leverage
|
1:500
|
Minimum trade size
|
0.01 lots
|
Minimum deposit
|
$200
|
Deposit methods
|
Bank wire transfer,
credit cards (VISA and Mastercard), Skrill, Neteller, Paypal and Bitcoin
|
Withdrawal methods
|
Bank wire transfer,
credit cards (VISA and Mastercard), Skrill, Neteller, Paypal and Bitcoin
|
How to open a trading account
with ICMarkets?
Next, we will see the steps to create an account correctly in
ICMarkets and verify it to start trading without any problem. The first
thing will be to click on the previous link to go directly to the website. Then
we will click on the button where it says “START TRADING“.
Then we will have to
complete the following form with our personal data such as First Name, Last
Name, Email, Country and Mobile.
We continue to complete our registration, and now we will have
to select the type of account we will use. We will select the “Individual”
account. Then we write our date of birth, address, city, state or province, zip
code.
If you were referred by another person you must select the box
that says “I was referred by an introducing Broker“.
Now we will have to select the trading platform that we will use
in our trade. In this broker, we can choose between cTrader, Metatrader
5 or Metatrader 4. In our case, we will select «Metatrader 4».
Then we will choose the type of account and select the option “Standart
Account” or “True ECN” (according to your interests). In currency
type we will leave it in USD (dollars), select the box to receive special
offers and continue clicking on the “NEXT” button.
We are already in the last
steps, now ICMarkets will ask us about our level of experience in Forex, if you
are a newbie you select «Beginner», or the one that suits you best. Now
we must place an answer for our security question and we finish by clicking on
the green button that says “ACCEPT DECLARATION & SUBMIT“.
Important: Once the registration is finished,
they will send us an email with our access data as our username and password.
Do not forget to write them down.
Account
verification at ICMarkets:
Verifying our account at ICMarkets is a very important step that
we must take before starting to trade since the company needs to check our
identity to confirm that they are working with real people. For that, we can
upload a photo of our ID (identity
card), Driver’s License or Passport. We
must also upload a proof of residence to
confirm our address.
To upload the files, we
just have to go down a little and select the option that says “Browse“,
and then we must click on a green button that says UPLOAD and
that’s it. Once the files are sent, we will have to wait for the ICMarkets
staff to approve them and verify our account. They usually give an answer by
mail in less than 24 hours.
To see the status of our documents sent, we just have to lower
the screen a little more, at the bottom of the page we can see something like
the following image.
Note: In my case, they approved my ID but no my proof of
residence, since I sent a very old one and it should not be more than 3 months
old.
If we have done everything
correctly and ICMarkets approves our documents and verifies the new account we
have opened with them, on the left side of our screen we will see something
like what is shown in the following image. That will confirm that our account
is fully verified and we can start trading without problems.
How to make a deposit of funds
in ICMarkets?
To make a deposit at ICMarkets and start trading, we must go to
the menu where it says Transfers >> Deposit Funds. Remember
that the minimum amount to fund our account is $200
Opening an account with
ICMarkets and other important aspects
Opening a demo account: If we are beginners and
we want to start practicing on the platform without risking our money, we have
the option of opening a demo account. For that, from the menu we will go
to Accounts >> Open A New Demo Account.
We only have to complete
the form with the trading platform of our choice, type of account, currency,
leverage and amount of the initial deposit. Once complete, we will receive
an email with the demo account, and the login details.
Trading
platforms of ICMarkets
MetaTrader 4: The
most popular Forex trading platform during 2019, since its technology and
design provide the customer with fast and easy-to-use service, with fast and
efficient trade execution and with a constant innovation that takes its trading
service to the next level.
This platform has multiple market analysis tools, including
dozens of built-in technical indicators. Not only that, it has modules designed
for the design, evaluation, and application of automated trading systems
(Expert Advisors).
cTrader: It is another trading platform
offered by ICMarkets and it is an electronic trading platform or Electronic
Communication Network which is specifically designed to trade with Forex and
precious metals.
This platform gives the customer great liquidity with up to 64
currency pairs, plus 13 stock indexes, combining streaming prices with a wide
variety of banks worldwide. In addition, cTrader does not have minimum spreads
as it has very low spreads from 0.0 pips for major currency pairs. In addition
to all this, the cTrader platform has no trading restrictions, as it offers the
possibility of linking and trading with large liquidity providers globally.
MetaTrader 5: This
trading platform has been becoming a trend during the year 2019, is an improved
version of the popular MetaTrader 4 platform, and was created by MetaQuotes. It
basically includes all the benefits that its predecessor MetaTrader4, but with
access to a greater variety of markets and more investment features than the
previous one did not possess.
Well, dear traders, that’s all with respect to this ICMarkets
Tutorial. We hope you choose this broker to start trading and any questions can
be left in the comments section of this article.
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