What is ICMarkets? Operation history of ICMarkets

ICMarkets is a trading platform that was established in Sydney, Australia, in 2007 by a group of financial services experts who contributed to the success of one of Australia’s largest Forex and CFD service providers.

According to their official website, ICMarkets was founded with the aim of assisting retail clients (such as individual traders like myself or you) to connect to liquidity providers and top-tier investment banks, allowing them direct access to pricing and liquidity. Previously, this privilege was only available to high-net-worth individuals and institutional investors with substantial capital.

ICMarkets’ 13-year experience in the financial industry has solidified its position as one of the largest forex trading platforms today. According to Wikipedia, the platform’s average daily trading volume reaches 19.4 billion USD, contributing to a monthly total trading volume of 447 billion USD, marking a 30% increase from the August 2017 report. This substantial growth has propelled ICMarkets to become the largest forex trading platform in the current market.

ICMarkets holds three operating licenses, including ASIC (ACN 123 289 109), CySEC (362/18), and FSA (SD018).

Australia stands out as a country with several reputable and consistently high-quality forex trading platforms. Apart from ICMarkets, Vietnamese traders may also be familiar with other Australian-based platforms such as Pepperstone, ThinkMarkets, Tickmill, and Axitrader.

The reason for Australia’s prominence in this regard lies in its regulatory authority, ASIC, which oversees both the forex trading market and the Australian stock exchange, ensuring a high level of supervision and security.


ICMarkets’ registration license with ASIC can be referenced here.

Being a significant player in the financial market, any forex trading platform licensed by ASIC is considered legitimate and trustworthy. To obtain an ASIC license, both forex trading platforms in general and ICMarkets, in particular, must meet the following criteria:

  1. Minimum capital requirement: The trading platform must have a minimum capital of 1 million USD under ASIC’s supervision.
  2. Segregated accounts: The platform is required to have mechanisms in place for segregated accounts. This ensures that client funds are kept separate from the broker’s operational funds, enhancing safety and security for traders.
  3. Australian Financial Securities Licence (AFC): The platform must possess an AFC license, allowing brokers to operate within the region. Obtaining this license implies that the forex platform has met criteria related to capitalization, membership in a dispute resolution scheme to protect both the platform and its clients from unnecessary risks, and a commitment to resolving conflicts and providing reasonable compensation in case of disputes.
  4. Membership in the Australian Financial Complaints Authority (AFCA): The platform must be a member of AFCA, a specialized agency for resolving disputes between consumers and service providers.

By fulfilling these criteria, ICMarkets and other ASIC-licensed forex trading platforms ensure compliance with regulatory standards and offer a higher level of protection and transparency for their clients.

ICMarkets, being regulated by ASIC, ensures that the forex trading platform complies with all the mentioned criteria. These factors indicate the following:

  1. With a minimum capital requirement of 1 million USD, ICMarkets demonstrates sufficient financial strength and good liquidity to facilitate payments to its customers. This is crucial because traders enter the forex market with the ultimate goal of making profits. Without adequate liquidity, it would be difficult for customers to conduct transactions efficiently, such as deposits and withdrawals, making forex trading less meaningful.
  2. The requirement for a Segregated account means that ICMarkets must have two types of accounts: one exclusively for holding customer funds, which is completely separate from the company’s own funds. This measure helps mitigate risks in case the company faces bankruptcy, as traders can still receive compensation according to the regulations. Moreover, having two separate accounts indicates a substantial capital base for the company (ICMarkets’ capital is four times larger than its clients’ funds at Exness). This is one of the essential criteria for traders in choosing a reputable forex trading platform.
  3. Currently, ICMarkets’ segregated accounts are held at two top-rated AA Australian banks: Westpac and National Australia Bank (NAB) for ASIC licensing, and Barclays Bank for FSA licensing. ICMarkets employs this approach to minimize risks for customers and avoids depositing all funds in a single bank.
  4. Being a member of the Australian Financial Complaints Authority (AFCA), an independent dispute resolution organization, means that if there is a dispute between traders and ICMarkets, they cannot reach a dead-end. Traders can directly contact AFCA for arbitration and protection of their rights. More information about AFCA can be found here.

With these mentioned criteria, it is evident that ASIC and ICMarkets prioritize safeguarding investors’ interests when disputes and issues arise. If the platform and traders cannot resolve the matter, these regulatory bodies will step in to ensure fairness.

Furthermore, ICMarkets is also regulated by CySEC, a financial regulatory agency responsible for protecting traders. In the event of insolvency or broker default, ICMarkets commits to compensating traders up to 20,000 EUR through the Investor Compensation Fund (ICF).

Moreover, being under the regulation of both ASIC and CySEC, ICMarkets is subject to certain requirements, such as employing independent auditors for transparency in financial records and refraining from any actions that may deceive or harm customers. Failure to meet these requirements could result in the revocation of the operating license by these regulatory bodies, an outcome that no forex broker desires. With all these measures in place, traders can be assured and trade on ICMarkets with confidence.

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Types of trading accounts at ICMarkets:

ICMarkets is primarily an ECN forex broker that targets professional traders with large trading volumes. As a result, the platform does not offer a wide variety of account types for customers to choose from. The account divisions at ICMarkets are somewhat similar to Exness and are based on the trading software provided by the broker. In essence, ICMarkets offers three main types of accounts:

  1. Standard Account:
    • Minimum deposit: 200 USD
    • Maximum leverage: 1:500
    • Commission: None
    • Spread from: 1 pip
    • Forex currency pairs: 64 pairs
  2. Raw Spread Account (compatible with MT4 and MT5):
    • Minimum deposit: 200 USD
    • Maximum leverage: 1:500
    • Commission: Fixed at 7 USD per lot (round trip)
    • Spread from: 0.0 pip
    • Forex currency pairs: 64 pairs
    • Suitable for: Traders using Expert Advisors (EA) and scalpers
  3. Raw Spread Account (compatible with cTrader):
    • Minimum deposit: 200 USD
    • Maximum leverage: 1:500
    • Commission: Starting from 6 USD per lot (round trip)
    • Spread from: 0.0 pip
    • Forex currency pairs: 64 pairs
    • Suitable for: Scalpers and day traders

Looking at the above information, you may notice that the three account types offered by ICMarkets do not differ significantly in terms of leverage, minimum deposit, and trading products. However, they do vary significantly in the nature of the accounts. While the Standard Account is generally considered an STP/ECN account, the other two Raw Spread accounts (compatible with MT4/MT5 and cTrader) are regarded as True ECN accounts.

One noteworthy aspect is that ICMarkets is a rare forex broker that genuinely provides True ECN accounts to traders, rather than the “dealing desk” or market maker model used by many other forex brokers.

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So what are the characteristics of the ECN accounts provided by ICMarkets?


ECN stands for Electronic Communication Network, which is a technical term used to describe how banks and liquidity providers connect to each other to provide BID and ASK prices.

In this setup, the broker seeks liquidity from Tier 1 liquidity providers (a task that traders would typically have to do themselves, but it can be time-consuming, so the broker handles it on behalf of traders).

When a trader places an order, it is directly pushed into the market without going through a Dealing Desk. The broker does not take the opposite side of the trade or interfere with client orders. This allows traders to enjoy better prices, faster order execution, and no requotes. Most importantly, there is no conflict of interest between the broker and the trader, so the broker doesn’t engage in tricks, interventions, or spread manipulation to the detriment of its clients. As the orders are directly pushed into the market, the broker mainly earns revenue from commissions charged to traders. This commission structure is a common feature of ECN brokers, including ICMarkets.

Currently, ICMarkets’ two types of Raw Spread accounts are built using a pricing system called Raw Pricing, which aggregates prices from over 25 banks, investment funds, insurance funds, and various other liquidity sources. The system uses the Execution Speed Priority (ESP) to send prices from liquidity providers to ICMarkets’ trading system, where customers can trade without the need for a Dealing Desk, price manipulation, or requotes.

Additionally, being an ECN account, trading orders executed at ICMarkets do not suffer from requotes (when an order is not executed at the desired price due to sudden market volatility, resulting in a different execution price). To achieve this, ICMarkets employs data processing systems hosted at Equinix IBX NY4 and LD5 data centers in New York and London, respectively. These data centers are considered some of the largest financial hubs in the world, serving major financial institutions such as the Chicago Board Options Exchange, Bats, ICAP, Nasdaq, New York Stock Exchange, Bloomberg LP, and of course, ICMarkets.

By storing MetaTrader 4 and 5 servers at NY4, ICMarkets can establish cross-connections between its MetaTrader servers and all its liquidity providers, ensuring the lowest possible latency and fastest order execution for customers. According to ICMarkets, the average time for order execution, from the moment a trade is received and processed to the order confirmation and execution, is only 36.5 milliseconds.

So, if you want to enjoy the best pricing conditions and deep liquidity at ICMarkets, we recommend choosing one of the two Raw Spread account types (for MetaTrader and cTrader) they offer.

However, the Raw Spread account compatible with the cTrader platform might still be relatively new to many traders, so you can research and choose the Raw Spread account for MT4 and MT5. This account type is also popular and widely traded at ICMarkets. In addition to the advantages related to the account nature, the Raw Spread account types also offer appealing benefits in terms of spread cost, which we will delve deeper into in the following section.

Nền tảng giao dịch sàn ICMarkets

Một trong những điểm được đánh giá cao tại ICMarkets chính là sàn cung cấp cả 3 nền tảng từ phổ biến cho đến tiên tiến nhất hiện nay gồm: phần mềm MT4, phần mềm MT5 và cTrader.

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The MT4 and MT5 software provided by ICMarkets:

Advantages of the MT4 and MT5 software offered by ICMarkets:

    1. User-friendly and easy to use.
    2. Low spread fees.
    3. Extremely fast order execution.

    In essence, almost every forex broker provides the MT4 trading platform, and premium brokers often offer the MT5 platform as well, which is commonly used for trading in other financial instruments like stocks. At ICMarkets, the MT5 platform is also primarily utilized for this purpose.

    However, many people may not notice the differences in the MT4 software across different brokers and tend to view it merely as a tool for placing orders, setting stop-loss and take-profit levels, without fully exploring its other features.

    Both MT4 and MT5 are customizable software, and as such, each broker may offer various tools to help traders achieve the highest trading efficiency. Therefore, it’s essential to explore the specific features provided by each broker when using MT4 and MT5.

    ICMarkets also integrates many useful tools and software to support traders for added convenience in their trading activities.


Outstanding features provided by ICMarkets for MT4 and MT5:


    1. Autochartist: This feature helps traders identify potential trading opportunities by automatically analyzing the markets and providing chart pattern recognition and technical analysis.
    2. Trading Central Signals: Traders receive signals and analysis from Trading Central, a renowned financial research provider, which assists them in making informed trading decisions.
    3. MultiTerminal: This tool allows traders to manage multiple trading accounts simultaneously, making it convenient for those who handle various accounts or strategies.
    4. Correlation Matrix: It provides traders with market information across different timeframes, enabling them to make better-informed decisions.
    5. Alarm Manager: A software that assists individual traders by sending notifications about trading events or signals, even to their social media followers.
    6. Sentiment Trader: This feature displays market sentiment based on real open positions, indicating the number of traders currently buying or selling.
    7. Stealth Orders: This application allows traders to hide their pending orders from other market participants, offering enhanced privacy and control over their trading strategies. You can find more details about it here.
    8. Tick Chart Trader: Displays multiple tick charts, including traditional line charts, timed tick charts, and candle/tick combination charts.

    These exceptional features enhance the trading experience and provide valuable tools for traders to make more informed decisions and execute their strategies effectively.


Here are some other exciting advanced features that ICMarkets provides, which you can explore here.

Within the scope of this article, we will introduce three ICMarkets features that many traders tend to overlook, despite their extreme usefulness: Autochartist, Trading Central Signals, and MultiTerminal.

Autochartist Feature

This has to be mentioned as an excellent tool that helps you quickly detect price patterns. At ICMarkets, Autochartist supports both MT4 and MT5 platforms. Besides pattern recognition, Autochartist also assists in swiftly identifying Fibonacci levels, critical support and resistance levels, and even various technical indicators.

In the past, users had to pay a fee to use Autochartist. However, at ICMarkets, this tool is provided for free. Upon registering an account, you can access this feature by selecting the “Market Predictions” section in the trading area. Simply enter your registration email and choose the trading sessions for which you wish to receive notifications, or you can select all three sessions. After that, click “Subscribe.” Whenever the specified trading sessions come up and a price pattern forms for the currency pairs you selected, you will receive an email notification.


Furthermore, if you wish to view more patterns, you can access the bottom section of the image on the Autochartist Web App. ICMarkets will provide a link to the Autochartist website, where users can examine the patterns in more detail.

Trading Central is undoubtedly a familiar name to many traders, as it is considered a valuable technical resource providing investment research to numerous banks worldwide. It is certified by three independent research service providers: Investoride Research, Euro IRP, and Asia IRP.

Particularly, Trading Central’s approach is based on chart analysis to evaluate trends. This will be an incredibly useful reference for novice traders to enhance their analytical skills.

In addition to various technical strategies, Trading Central also offers professional data analysis reports on forex currency pairs, commodities, and indices through market data terminal devices like Bloomberg, Thomson Reuters, Dow Jones, and others. Each trading product’s strategy is updated 10 times per day, providing you with plenty of opportunities to consider.

As mentioned, instead of tirelessly searching for signals on Telegram, Facebook groups, or Tradingview, you can directly refer to Trading Central, a highly reputable analysis source that usually requires a subscription fee to access. However, ICMarkets has supported their clients by providing all these services for free.

To continue using Trading Central at ICMarkets, you first need to have a successfully activated account.

Once your account is ready, simply log in and navigate to the “Trading Tools” section, followed by the “Ideas from Trading Central” segment:

Clicking here, ICMarkets will also directly lead you to the homepage of Trading Central with the interface as shown below:


The main interface will provide data reports on 4 main product types, including Indices, Equities, Forex, and Commodities, with data frames divided into 30 minutes, 1 day, or 1 week. If you want to view a specific product, you can click on that product and choose the desired time frame for analysis.

As shown here, coinvn98 has clicked on the Forex category, and all real-time updated analyses will be displayed for your reference:

And if you click on a currency pair, a trend analysis chart will be displayed with support and resistance points, trends for each time frame, candlestick reversal patterns, applied indicators, and comments explaining why this currency pair is being analyzed in such a way.

More thorough, organized, and logical than many “tips” you spend money to buy on Telegram or Facebook. At ICMarkets, everything is free, so why not try adding a reliable technical analysis source for your reference?

MultiTerminal Feature

This feature allows you to manage multiple accounts simultaneously, especially useful when forex trading involves more than one account. Using MultiTerminal makes it easier to manage all executed orders, open positions, or market prices at the same time.

Note: The Trading Central and MultiTerminal features provided by ICMarkets are available only on the MT4 platform and cannot be used on MT5. However, Autochartist is integrated for both MT4 and MT5.

Therefore, it can be seen that ICMarkets favors MT4 much more, right? However, if you want to trade stocks, choosing the MT5 platform is mandatory.

cTrader Platform

While the MT4 and MT5 trading platforms are developed by a Russian company, cTrader is owned by Spotware, based in the United Kingdom. This platform is specifically designed for ECN (Electronic Communication Network) forex brokers. So, if a broker integrates cTrader, you can be assured that it is not a dealing desk or market maker that may manipulate spreads to take advantage of clients.

However, cTrader is relatively newer compared to MT4, so it doesn’t have as many indicators or integrated types of Expert Advisors (EAs) for traders. Thus, cTrader is not recommended for novice traders.

But if you are an experienced trader, you should consider using cTrader due to its various improvements and updates, such as:

  • You don’t need to keep your computer running 24/24 if you set up a trailing stop like MT4.
  • You can take partial profits and set stop-loss levels, which MT4 currently cannot do.
  • Additionally, cTrader, being dedicated to ECN brokers, provides some specialized features like VWAP (Volume-Weighted Average Price) and market depth analysis.

ICMarkets hosts its servers in the LD5 IBX Equinix Data Center in London, known as the financial ecosystem, where over 600 companies buy, sell, exchange, trade locations, market data, and service providers. These servers are connected to ICMarkets’ trading system to ensure ultra-low latency and super-fast order execution, with a delay as short as a few microseconds for order matching.

Apart from ICMarkets, many other reputable forex brokers also offer cTrader to their clients. To find out which brokers use cTrader, you can check here.

Key Features of cTrader Provided by ICMarkets:

  • Real-time forex and CFD quotes
  • Tight market spreads and low commissions
  • Servers in the LD5 IBX Equinix Data Center
  • Minimum lot size of 0.01 lots
  • Flexible deposit and withdrawal options
  • Level II pricing with full market depth
  • No restrictions on limit orders
  • Multiple order types
  • Detachable charts
  • Expanded symbol display
  • Real-time reporting
  • One-click trading
  • cAlgo feature provided by ICMarkets

Currently, although cTrader is a relatively new platform, it is continuously developing various features like cAlgo, cBroker, cMirror, and cXchange. At present, ICMarkets’ cTrader supports only the cAlgo feature, and other features may be developed in the near future.

cAlgo allows you to create custom indicators, automatic trading strategies (cBots), and specific trend analysis tools using the C# programming language. In essence, cAlgo is an automated trading platform for traders.

With the use of C#, traders can easily create their own EAs. Moreover, this could be an option for traders


MAM/PAMM Software provided by ICMarkets:

IC Markets’ Multi-Account Manager (MAM) software allows you to manage client funds with flexible allocation methods and real-time reporting of performance and commissions.

While MAM accounts connect all allocation settings directly to IC Markets’ MetaTrader 4 server using percentage-based allocation methods, PAMM accounts provide allocation of trades and risk adjustments for each sub-account based on the client’s risk profile in a more flexible manner. ICMarkets offers two types of allocation methods: Balance-based Allocation and Equity-based Allocation.

It’s important to note that MAM and PAMM services might be confused with copy trading services. ICMarkets collaborates with MyFXBook to provide AutoTrade services to customers, which is owned and operated by Myfxbook. However, ICMarkets does not offer this service directly.

Trading products, leverage, commissions, and spreads at ICMarkets:

Trading Products and Leverage offered by ICMarkets:

ICMarkets is one of the most diverse brokers, offering a wide range of products, including even bonds, a product often overlooked by other forex brokers.

Basic information about the products offered by ICMarkets:

Forex Pairs: 65 currency pairs with a maximum leverage of 1:500. Commodities: 19 products, including metals, agricultural, and energy commodities, with a maximum leverage of 1:500 for precious metals like gold and silver, and 1:100 for other products like corn, soybeans, sugar, coffee, and wheat. Stocks: 120 products with a maximum leverage of 1:20, available only on MT5. Indices: 17 products with a maximum leverage of 1:200. Bonds: 6 products with a maximum leverage of 1:200. Cryptocurrencies: 10 products with a maximum leverage of 1:5.

With 60 forex pairs, ICMarkets offers a wide selection for forex traders. Additionally, some highlights of the products offered by ICMarkets are as follows:


Compared to XTB, ICMarkets offers only 1/14th of the number of different stocks (XTB provides 1700 different stock symbols from 15 countries worldwide).

However, the stocks offered by ICMarkets are all listed on the two largest U.S. stock exchanges, NASDAQ and NYSE. Therefore, even though the number is smaller, they are high-quality, highly liquid stocks.


Additionally, similar to XTB, when trading stocks at ICMarkets, you can also enjoy dividends, which is one of the most attractive features for many traders.

In essence, forex brokers typically trade stocks through CFDs (Contracts for Difference), meaning they are based on the difference in the index. At this point, the stock products are not much different from other products like gold or metals.

However, currently, some brokers like ICMarkets and XTB have made CFD stock trading more similar to trading physical stocks on traditional stock exchanges, and one of the significant features they offer is the ability to receive dividends.

ICMarkets uses dividend data estimated by Bloomberg (E & OE), rounded to the volume ICMarkets uses for that index (3 digits). According to this, if you Buy, you will receive dividends into your trading account, and if you Sell, you will incur costs, just like with real stocks.

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The dividend schedule provided by ICMarkets:

While at XTB, you can check the dividend schedule directly on the xStation platform, at ICMarkets, you cannot access this information on MT5. Instead, you need to visit ICMarkets’ website at this link to check the dividend schedule.


Furthermore, similar to XTB, when trading stocks at ICMarkets, you can also benefit from dividends, which is one of the most attractive features for many traders.

In essence, forex brokers usually offer stock trading through CFDs, which means they are based on the difference in the stock price, and at this point, stock CFDs are not much different from other products like gold or metals.

However, currently, some brokers like ICMarkets and XTB have made stock CFD trading more similar to traditional stock trading on stock exchanges, and one of the advantages is the opportunity to receive dividends.

ICMarkets uses dividend data estimated by Bloomberg (E & OE), rounded to the volume ICMarkets uses for that index (3 digits). Accordingly, if you Buy, you will receive dividends in your trading account, and if you Sell, the cost will be deducted, just like with real stocks.

Next, let’s talk about the available products at ICMarkets and their unique features.

Forex Products:

These are traditional and common products offered by most forex brokers. However, ICMarkets stands out by providing a wide range of exotic currency pairs with reasonably low overnight fees. For example, the overnight fee for buying USDTRY is -150 USD/lot, and for selling it is +79 USD/lot. Additionally, ICMarkets offers very attractive spreads for forex pairs, which will be discussed further in the following section.

Cryptocurrency Products:

This might be a disappointing aspect for many traders when trading with ICMarkets. Firstly, ICMarkets provides a relatively low leverage of only 1:5 (at Exness, it’s 1:100 for BTC and 1:20 for other products). Secondly, the overnight fee for cryptocurrency trading is quite high, costing 20 USD/lot for both buy and sell orders (at Exness, traders do not incur this fee). Furthermore, cryptocurrency trading is suspended and not allowed on weekends, just like with other products.

Commission and Spread:

As an ECN broker, ICMarkets primarily earns its revenue from commissions rather than spreads like many other forex brokers. Among the three account types offered by ICMarkets, only the Standard account does not charge any commission. The True ECN and cTrader accounts, on the other hand, do have commissions.

For the Raw Spread account (compatible with MT4 and MT5), the commission is a fixed 7 USD per lot. This means that regardless of the traded product, the commission remains at 7 USD per lot.

For the Raw Spread account using the cTrader platform, the commission is calculated at 3 USD per standard lot. However, this price is subject to conversion based on the value at the opening and closing times of the trade. Therefore, the commission might be higher than the mentioned 3 USD per lot per side.

For example, when trading the EURUSD pair, if the opening price is 1.3, the commission for opening the trade will be: €100,000 x 1.3000 = USD $130,000 x (3 / 100,000) = $3.90.

If at the closing time, the EURUSD price changes to 1.31, the commission will be: €100,000 x 1.3100 = USD $131,000 x (3 / 100,000) = $3.93.

You can find more information about the spreads offered by ICMarkets here.

Once again, based on the aforementioned commission fees, we strongly advise you to trade with the Raw Spread account on the MT4 and MT5 platforms as it is very reasonable.

Besides its user-friendly and easy-to-use interface, the commission fee remains fixed at 7 USD per standard lot for both buy and sell orders, unlike the cTrader account where the commission may vary.

We can say that this is a very favorable commission rate provided by ICMarkets. Many brokers nowadays, in order to offer spreads as low as 0, equivalent to ICMarkets, typically impose non-fixed commission fees, especially for precious metals like gold, where the commission can be as high as 10 USD per lot.

Spread do ICMarkets cung cấp


The image above is the most evident proof of ICMarkets’ ultra-low spread provided to traders. The picture was taken at 11:00 PM, a time when the market has calmed down and is not as active as at 7:00 PM. Spreads for currency pairs like EUR and USDJPY are close to zero, and even gold has an extremely low spread. Considering the total sum of both the spread and commission fees for the Raw Spread account, which amounts to only 17 USD, it is well worth your experience.

Deposits and withdrawals at ICMarkets:

ICMarkets offers traders a variety of payment gateways, including Internet Banking, VISA, Paypal, Neteller, and Skrill.

ICMarkets provides free withdrawals; however, if you choose to withdraw via International Bank Wire, there will be a fee of 20 AUD (more than 300,000 VND) charged by the bank.

During your first trading experience, if you deposit funds using a specific payment method, you must also withdraw using the same method. For example, if you deposit 500 USD into ICMarkets using a Visa Debit card, you will need to withdraw 500 USD back to the Visa Debit card. However, the profits earned can be withdrawn through different methods such as Neteller, Paypal, or Visa card.

In case of unfortunate losses, if your account balance reduces to 50 USD, this amount will be refunded to your Visa Debit card within 60 days. If the deposit is older than 60 days, the remaining 50 USD will be transferred to the card through an international bank transfer.


The most outstanding feature of ICMarkets’ support for deposits and withdrawals for Vietnamese traders is that they offer Paypal and support 24 domestic banks in Vietnam through Internet Banking.

These two channels are highly suitable for Vietnamese traders as you can leverage Paypal funds from individuals involved in MMO (Make Money Online) to benefit from favorable exchange rates. Additionally, the extensive support for numerous banks, unlike many other forex brokers that only support a maximum of 8 major banks, provides us with more convenient options for depositing and withdrawing funds at ICMarkets.

The most inconvenient aspect of ICMarkets is that withdrawals take longer, and you need to initiate a withdrawal before 8:00 AM (Vietnam time) for the funds to arrive on the same day.

Based on our experience, if you withdraw right at 8:00 AM, the funds will arrive around 3:00 PM on the same day. If you initiate the withdrawal earlier, such as placing the request the night before, you may receive the funds at around 1:00 PM or 2:00 PM. If you place a withdrawal request after 8:00 AM, the request will be processed on the following day. Please keep this in mind when conducting trading transactions at ICMarkets.

This withdrawal procedure may pose challenges for some individuals. However, ICMarkets follows manual approval and complies with ASIC regulations, and therefore, this aspect must be accepted and cannot be altered.

ICMarkets Customer Service:

ICMarkets currently does not have an office in Vietnam, and primarily, the support is provided by Introducing Brokers (IBs). However, they still offer 24/7 support for Vietnamese traders, even on weekends. Hence, when you encounter any issues requiring assistance, you can request support from a Vietnamese representative by simply stating, “Please connect me with a Vietnamese support agent.” The system will automatically understand and direct you accordingly. If your English proficiency is good, you can also contact the support staff at any time you wish. ICMarkets’ support team is highly professional and will promptly address any queries you have.

One point to note is that you can only get assistance from Vietnamese support staff on weekdays. On the weekends, only Sydney-based staff will provide support, which means you should be comfortable conversing in English for easier communication.

Summary of ICMarkets’ advantages and disadvantages:


  • True ECN broker.
  • Ultra-low spreads with many pairs at zero spread, such as USDCHF, EURUSD, USDJPY.
  • Free trading signals from Autochartist or Trading Central.
  • Professional and enthusiastic customer support.
  • Provides advanced trading platforms: MT5 and cTrader.


  • High minimum deposit requirement: 200 USD or more.
  • No cryptocurrency trading on Saturdays and Sundays.
  • No trader bonus programs.
  • Complex and time-consuming withdrawal procedures. Although ICMarkets strictly follows ASIC regulations, this could still be an inconvenience for some traders.

In conclusion, ICMarkets can be summarized with six words: Reliable, Quality, Professional. Indeed, ICMarkets is highly recommended for your trading experience. Especially, if you trade with large volumes, you not only enjoy attractive spreads and no requote orders but also benefit from the extremely reasonable commission fees as mentioned above. I hope you find the most reputable forex broker for yourself. Wishing you success!

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