FXC Markets Review is fxcmarkets.com Scam or Legit Broker

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Trusted IC Markets Review 2020

Table of Contents

Review: Regulation: Spreads: Assets: Min. Deposit:
(5 / 5) ASIC 0.0 Pips 232+ 200$

Is IC Markets a serious Forex and CFD Broker or not? – With more than 7 years of experience in the financial markets, we tested the company for you with real money. Read our experiences and get a detailed overview of the conditions, advantages, and disadvantages for traders. Is it really wise to invest money with this broker? – Inform yourself now.

Official website of IC Markets

What is IC Markets? – The company presented

IC Markets is an Australian ECN broker which accepts international clients. The address of the broker is International Capital Markets Pty Ltd, Level 6 309 Kent Street, Sydney NSW, 2000 AUSTRALIA. Founded in 2007, the company has a proven track record so far. The secret of the broker is that it provides true ECN market access and has very favorable trading fees for the best technology in trading.

Safety is a top priority at IC Markets. Customer balances are managed separately from company funds at the Australian National Bank (NAB). In addition, the broker has the largest liquidity providers involved, which shows a high degree of seriousness. Therefore, there is a fast execution of orders and no requotes. High liquidity for traders is provided by IC Markets.

Facts about the company:

  • Australien Forex ECN Broker founded in 2007
  • Direct market access through large liquidity providers (Goldman Sachs, HSBC and more)
  • One of the first real ECN brokers
  • The best conditions and cheap trading fees
  • Specialized for Forex Trading
  • Fast order execution and no requotes

Is IC Markets regulated? – Regulation and safety for Traders

Regulation by an official authority is very important for online trading. A license gives the broker a trustworthy relationship with the customer. To obtain such a license, IC Markets must comply with certain rules and requirements. Violating these requirements would mean an immediate loss of the license. Therefore fraud on the customer can be excluded here.

IC Markets is regulated by the ASIC. It is an independent institution of the state government agency. Customer money transactions are conducted by National Australia Bank (NAB) and Westpac Banking Corporation (Westpac). These are both top international banks that have high liquidity. In addition, IC Markets uses external and independent auditors who control the broker.

The broker makes a very serious impression on us and we can assume that this is not a scam:

  • Regulation by the ASIC
  • Separate accounts at major banks
  • The external auditor of the broker

IC Markets and the ESMA regulations

In 2020, the leverage on derivative financial products Forex and CFDs in Europe was extremely limited. European brokers can only offer a maximum leverage of 1:30 to customers. This is meant to protect private investors, but ultimately destroys various strategies and opportunities for traders. It is not possible to prevent traders from losing money on the stock market because you always take a risk. Even with small leverage, European traders will lose money.

IC Markets is located outside the European Economic Area and is not affected by this regulation. Traders continue to hold leverage of 1: 500 on this broker.

Big advantage: It is a real ECN Broker

IC Markets is actually one of the few True ECN brokers. The company also gives private traders access to institutional trading via ECN / STP access. IC Markets only earns money at the commission per order execution or spread (STP) and a conflict of interest is 100% excluded! The website also directly recognizes the broker’s liquidity providers. These include major international banks, which provide direct access to the interbank market.

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A monthly volume report can also be viewed transparently on the homepage. More than $ 600 billion was transacted in 2020 in a single month.

Real ECN Broker IC Markets

The offer and conditions for traders

IC Markets offers to trade in forex (currencies), CFDs (bonds, indices, commodities, cryptocurrencies) and futures. There are more than 232 different assets available. The conditions are very good from my experience and test. In comparison, you can rarely find cheaper and safer brokers.

The spreads start at 0.0 pips and the commission is $ 3 per trade $ 100,000 in CTrader. In the Metatrader, the commission has been increased by 50 cents to $ 3.50. A change to this broker is worthwhile even because of the low fees for trading.

IC Markets sample spreads

The execution in the live account works in real-time. With the data center in New York and London (financial centers of the world), you get an unrivaled fast execution. If that’s not enough, you can hire a VPS server for even faster access.

Since IC Markets is a true ECN broker, price manipulation is excluded. In addition, there are no requotes and your position will always be executed at the next best price. There are no hidden fees for traders. The real “raw spreads” are offered. In addition, the broker is supplied by various liquidity providers. This means that there is always sufficient liquidity available (even for high trading volumes).

Conditions for traders:

  • ECN spreads from 0.0 pips
  • Leverage of up to 1: 500
  • Over 232 assets for trading
  • Trading already from 0.01 Microlot

In summary, trader terms are outstanding with this broker. If you are looking for a good forex provider, you should switch now. However, there are no shares in IC Markets to trade, which is why you have to make small cuts.

The Trading Plattform of IC Markets

IC Markets offers the well-known trading platform MetaTrader 4/5 and the cTrader. The MetaTrader is available for the computer, smartphone, and tablet. The software can also be started from the browser. The cTrader is available for the browser and mobile devices.

The trading platforms are evidence of high security and have been in use for many years. The MetaTrader is the world’s most popular trading platform for private traders. You can make any settings yourself and create your own strategies. The MetaTrader works flawlessly and gives you direct access to the markets.

Metatrader 5 is one of the best trading platforms

Charting and Analysis

The trading platform MetaTrader offers a huge range of analysis and charting material. Choose between different chart types and configure them as you want. Indicators and technical drawing tools are for free.

More than 50 different indicators are available on the platform. For advanced traders, there is the possibility to insert extern indicators which you can download on the internet. Each indicator is personal customizable. There are a lot of functions which we cannot mention here all. In addition, technical drawing tools are available for doing technical analysis.

Facts about the trading platform:

  • Available for any device
  • Free indicators
  • Free technical tools
  • Configure your own strategies
  • Customizable and user-friendly
  • Automatic trading and robots

Automatic Trading

The terms of IC Markets are also perfect for automated trading! The company itself states that more than 60% of the trades delivered each day are from automated systems. The data center is located in New York and with a VPS server you have the best access to the markets. This allows you to get the best prices in the market and open and close trades in less than a second.

Furthermore, the broker is characterized by low latency. The average execution speed is less than 40 milliseconds. From our experience, there is also virtually no slippage (even with positions with more than 10 lots).

Account types at IC Markets

We get a lot of requests because of the account types at IC Markets. Generally, there are 2 different accounts. The ECN and STP (Standard) account. There is only one difference in the billing of fees. With the ECN account you get the real spreads directly from the market, but pay about $ 3.5 commission per traded 1 lot. There is no commission for the STP (Standard) account, but there is an additional spread (from 1.0 pips).

In summary, you will pay less with the True ECN account. The difference is minimal, but you should not neglect it. Again, the preferences of a trader apply.

There are only 2 different account types:

  • True ECN account with $ 3.5 commission and from 0.0 pip spread
  • STP (Standard) account with 0 $ commission and from 1.0 pip spread

Open your free account:

Opening an account with IC Markets is very easy. Just fill out the form and start trading. First of all, you have to insert your real name and phone number. Then the broker will ask you for additional information about your identity. Through the regulation of the ASIC, the Forex Broker has to verify your identity and account before you can start trading real money. But from my experience, it is an easy process to verify the account. We recommend doing this as fast as possible to get access to all functions of the platform.

Very fast account opening

The free Demo Account of IC Markets

IC Markets offers an unlimited and free demo account for traders. In the personal area, you can open different demo accounts for your purpose. The demo account is an account with virtual money. It simulates the trading with real money 1:1 and we recommend to use it before you start with real money. In addition, the demo account is the best way to practice new strategies and markets.

First of all, you should try out the broker with the free demo account.

The withdrawal and deposit at IC Markets

The payout and deposit at IC Markets work smoothly. The broker offers a total of 15 methods to capitalize on the account. The broker is surprised that he even offers Bitcoin and PayPal as payment methods.

Deposits are well written in real time depending on the method. My payouts have always been confirmed and executed within 24 hours. Make sure your account is fully verified.

There are no fees or hidden costs. On deposits and withdrawals, the broker requires no fees. However, a bank transfer can be costly if your bank charges you for international transfers. The trading account is available in AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, and CHF.

Payment methods:

  • Credit Card (Master, VISA)
  • PayPal
  • E-Wallets (Skrill, Neteller and more)
  • Bank Transfer
  • Bitcoin Wallet
  • UnionPay
  • Bpay
  • FasaPay
  • No hidden fees

Our real withdrawal proof

We uploaded our IC Markets review video on youtube and we got different comments from people who say that IC Markets is a Scam Broker. Withdrawals would not happen or the broker is manipulating the spreads. Form my experience there is no scam or fraud on this broker.

Often beginners or traders without the experience of the markets make big losses and claim the broker for it. Personally, we never got a problem with IC Markets and the trading and withdrawal of profit. In the next picture, we will show you our payout of money:

Withdrawal proof of IC Markets

Is there a negative “Balance Protection”?

At IC Markets, there is no negative balance protection from my experience. This only shows that it is a real ECN broker. Similar to futures trading, the account can end up in very extreme situations in a negative state.

Usually, this does not happen if you use a balanced risk management and do not burden your account with oversized positions. IC Markets automatically stops all positions with 50% margin overstepping. A higher value is also adjustable. So you should be protected under normal circumstances.

For IC Markets it is also not possible to get negative balance protection for its customer as it is trading on real market conditions. If there is no counterparty in the market, you can close the position later. However, this is rarely the case as the markets are very liquid.

Customer support and service at IC Markets

The language of the support is English. The website is translated into different languages. More than 10 languages are available. The support works 24 hours a day from Monday to Friday and is available via chat, telephone or email.

The speed of support is outstanding. For example, you get a direct answer via chat support. The employees work quickly and can help you with your problems.

For beginners, there are analyzes and video tutorials for the platform. Sometimes well-known guests are invited for webinars. You will then receive a notification via email. Taken together, the support is pretty good because you always get professional help directly. However, you have to make a small smear, because of there no support in every language.

  • Support 24 hours per week (working days)
  • Phone, Email, and Chat-Support

Countries

More and more people want direct access to the ECN Forex market. IC Markets accept traders from around the globe. There are some exceptions: The broker does not accept traders from the U.S, Canada, Israel, Iran.

The fast-growing area of the world is the Asian and Africa markets. They accept traders from China, India, Philippines, Indonesia, South Africa, Ghana and more.

Our conclusion: IC Markets one of the best ECN Forex Brokers

IC Markets is my personally favored Forex Broker because here you are without conflicts of interest to very small fees. Unlike most providers, this broker has real ECN access. Thus unlimited profits can be made and the broker earns only at the commission its money.

The cost is reduced to the lowest and in this area, you can not find a cheaper provider. The designs and the service are sensational. We can recommend this broker to any trader who wants to trade with large or small capital.

In conclusion, IC Markets is one of the few top brokers worldwide that can be recommended with a clear conscience. Start now with the free demo account and test the provider yourself.

The advantages of IC Markets:

  • Regulated and safe Forex Broker
  • Real ECN Trading
  • The best conditions for traders (0.0 pips spread + commission)
  • Metatrader 4 and 5
  • Very fast support
  • No hidden fees
  • The best broker for high volume trading through big liquidity providers
  • Free demo account
  • Minimum deposit 200$

If you search for a reliable Forex Broker without conflict of interest and good conditions, you should choose IC Markets. (5 / 5)

Merit Forex Review: Scam or Legit and Professional Broker?

Merit Forex Review: Scam or Legit and Professional Broker?

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Last Updated: Jan 3, 2020 @ 12:22 pm

Merit Forex offers various account types with variable spreads and leverage of up to 1:400. These accounts allow trading on the Meta Trade 4 platform as well as mobile trading on the same platform. On top of this, Merit Forex offers swap free accounts for traders of the Islamic faith in addition to managed accounts for those who would like to have their capital managed for them.

The accounts in question are standard, Active Traders, ECN and EA Robot. The minimum deposit for each one of the accounts is $250, $1000, $10,000 and $500 respectively. Trading conditions are specified on the broker’s website but their marketing materials suggest that this broker is praising himself for providing a unique trading environment for all types of traders depending on their needs.

While there are a few advantages that this broker seems to offer with their trading platform, there are also disadvantages which we will mention here. In the meantime, these Forex trading platforms are considered the best and you can sign up without having to worry that the brokers will mess you up by stealing your capital.

Merit Forex Review

Merit Forex seems to be offering competitive spreads on their websites except on their ECN accounts where spreads are not specified. This prompted us to try their demo for the ECN account on a pair like EURUSD and found that spreads were floating around 1.2 pips. This is in line with what most brokers charge for this pair and we have no doubt that this broker is quite competitive in terms of the spreads which they offer their clients.

The broker also supports MT4 platform for trading, which is a very popular trading software since most traders are familiar with the software compared to other solutions such as ctrader. The reason you want to choose a broker who supports MT4 platform is because the software offers compatibility with a wide range of charting and trading solutions which include expert advisors and indicators.

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It virtually supports all kinds of automated trading solutions including live market updates for those who trade based on fundamental analysis.

In terms of leverage, Merit Forex offers up to 1:400 which is really high, although some brokers offer up to 1:500. It really depends with what kind of a trader you are. If you love taking risks, you will find that an account with high leverage is the best trading solution for you. However, if you are the conservative type of trader, then a low leveraged account offers the best solution for you. But generally a broker who is flexible tends to suit the needs of all traders regardless of whether they are conservative or aggressive traders.

Merit Fore offers a wide range of trading instruments which include Forex, CFDs, commodities, indices and precious metals. Apart from this, Merit Forex also offers trading in Crypto currencies. So traders can even trade a pair like BTCUSD.

Having said all that, Merit Forex may seem appealing but before you make a decision, you need to consider the cons of opening a trading account with this broker. Is Merit Forex a safe broker to trade with? Do they offer features which they claim to offer? Are they honest with their clients?

They are registered in an offshore destination

First of all, Merit Forex claims that they are a legally registered Forex broker with the Vanuatu Financial Services Commission. However, a background search has revealed to us that they are only registered as a securities dealer in this off shore destination. Let’s make it crystal clear that Forex brokers who are registered in Vanuatu or any offshore destination do not have to comply with strict conditions to be granted a license. In fact, these brokers are usually not being monitored by the authorities.

What this means is that Forex brokerage business is booming in that area at the expense of the client who might be looking for a reliable broker that he can trade with. It basically means that these brokers can decide to do whatever they please with your money because they are as good as not regulated.

Is Merit Forex a market maker?

It acts as the sole counter party in relation to their trading platform. This is stated in their client agreement. This simply means that the broker is acting as a principal to all trades on the platform which simply means that there is a huge potential for conflict of interest. It means that such a broker will not allow you to consistently win trades on their platform because they will be losing money in that sense.

Perhaps they can convince us with their ECN account type. However, with these other account types, conflict of interest is likely to arise and this will work to the disadvantage of the trader.

Comparatively high minimum deposit requirement

The minimum that you can deposit on their basic account to start trading is $250. This is comparatively high compared to tightly regulated brokers who charge $50 or less as minimum deposit.

We don’t know about you. But in our opinion, this deposit is still high for anyone looking to test a broker’s trading condition.

Overall, this broker seems to be offering something attractive. In terms of spreads, trading platform and even financial instruments, it is all great. However, what might bother a trader looking for a serious broker is the fact that Merit Forex is an off shore registered broker. You want a broker who puts your interest first instead of a broker that puts his first.

Our best advice for you

The location where this Forex broker is registered at offers a range of tax benefits to such companies and all Forex brokers based here are not regulated no matter what they claim. The requirements that the so called regulators have put forth are very lax. There are far more reputable brokers that you can deal with as opposed to brokers who are based in this region. You might want to try these highly recommended ones. They are affordable and their reputation is in order.

Stox Market

Overview

StoxMarket Broker – Making Trading Simple –
Is it True or StoxMarket is a Scam to Avoid?
Check This 100% Full & Honest StoxMarket Review
Demo Account + Minimum Deposit – See Below!

Details

Broker Stox Market
Official Website URL www.stoxmarket.com
Support Types Live Chat, Phone, E-mail
Payout 84%
Demo Account Open FREE Demo NOW
Deposit & Withdrawal Methods VISA, Mater Card, Maestro, OK Pay, Neteller
Number of Assets 60+
Overall Score 6.7/10

Full Review

StoxMarket is an innovative and superior online trading solution that has recently started its operational process and is now available for all the online investors who are willing to try something fresh, professional and highly profitable. Of course, when there are only promises and statements we have to investigate in specifics all the advantages and disadvantages of the product in order to give you the best final verdict, regarding its scam/legit status.

Therefore, the following review is all about this specific broker, that trades on the Forex market as well. Make sure to read the whole text in order to get informed on whether you should opt for this platform or stay away from it.

Table of Contents

First Look at StoxMarket

At first look at the official website of the trading solution, it seems like it does offer a significant number of tradable assets for the customer. The wide range of possibilities includes many commodities, indices, stocks and currency pairs. In addition, people can also place trades on the Forex market or deal with CFD’s which are more specific and require deeper knowledge and significant former trading experience.

Review Verdict: StoxMarket is NOT a Scam

The interface of the brokerage is simple, user-friendly, flexible and there are more than enough sections where you can get all the needed information about any service or trading option. There is also a substantial educational center where newbies can improve their trading strategy by gaining more experience and learning important and useful information.

Stox Market Broker – Is It a Scam or Not?

According to us, this online trading platform is already proven to be highly reliable, authentic and legit income-generating solution that could help any trader improve their lifestyle and financial status. The numerous positive users’ testimonials confirm that as well as all the available positive reviews that seem to be pleased with what they have found about the broker, too.

As a result, we would advise you to try dealing with it. Our team of specialists is confident that you won’t regret your choice. On the contrary, we believe that registering with StoxMarket brokerage will make you feel very successful and pleased with your trading results.

StoxMarket – Trading Platforms

One of the biggest advantages of this Forex trading broker is the fact that it is highly flexible when it comes to offering trades the comfort to perform their transactions they way they want. In this line of thinking there is a short description of the 4 available trading platforms that provide trades with amazing features.

  • StoxMarket Webtrader – this amazing trading platform allows traders to experience a desktop trading journey conducted via web browser. The ease of access is especially useful for traders logging in to their account from different locations and devices. The Webtrader handles a high volume of live data with updates in real-time.
  • Tablet Trader – this is a smart trading solution in case you are on the go and don’t have access to a desktop machine. Basically, this is the MT4 platform developed for both Android and Apple devices. This means that you can still benefit with all the features of the web based MT4 platform.
  • Mobile Trading Platform – it seems like the developing team of Stox Market knows that it is important for people to receive real-time information as markets are dynamic and constantly changing. So, this platform allows you to trade on the go. Again, it doesn’t matter whether your phone is based on Android or iOS.
  • Metatrader 4 – as you may already know this is the most popular and appraised Forex trading platform on the market. It has the unique ability to bring different trading options together by uniting them upon a leading trading technology. In fact, this platform has a basic interface and advanced features.

Account Types at StoxMarket

This online trading broker platform offers 3 main account types. Their main features are described as follows:

  • Silver – you need at least $1,000 in order to open this account. In addition, you get access to many different educational materials.
  • Gold – with the initial deposit of $5,000 users get all the features form the Silver account plus some additional tools such as: Daily market analysis and Trading signals.
  • VIP – you will need over $20, in order to get this account type. It is the most professional tier and all the features are unlocked and usable with it.

There is also a Demo Account feature which offers to newbie traders the chance to improve their trading strategy and success rate without losing real investments.

Conclusion

Stocks Market’s outstanding special features, along with the account types who have excellent bonuses, make it a truly remarkable and legit Forex investment broker. Its 24/7 customer support service is reported to be one of the best in the online financial industry applying responsiveness, niceness and helpfulness as their core values and principles.

Traders are recommended to proceed and get started with this brokerage platform as they will seldom find a more reliable and trustworthy one. They will enjoy a safe and secure investment experience.

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