IC Markets review

IC Markets Review

Overall, IC Markets is considered low-risk, with an overall Trust Score of 86 out of 100. IC Markets is licensed by one Tier-1 Regulators (high trust), one Tier-2 Regulator (average trust), and two Tier-3 Regulators (low trust). IC Markets offers three different retail trading accounts namely a cTrader Account, Raw Spread Account, and Standard Account. IC Markets is currently not regulated by the CMA of Uganda

Updated : July 7, 2022

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Trading Platforms

Range of Markets

Fees

Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

USD 200 / 718,000 UGX

Regulators

ASIC 

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

65

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

IC Markets Overview

IC Markets Review Overview Uganda

 

👉 IC Markets accepts Ugandan clients and has an average spread from 0.0 pips with $6 or $7 commission round turn. IC Markets has a maximum leverage ratio up to 1:500 and there is a demo and Islamic account available. MT4, MT5, and cTrader platforms are supported. IC Markets is headquartered in Australia and is regulated by ASIC, CySEC, FSA, and SCB.

 

👉 Comprehensive trading solutions are provided by IC Markets, which is recognized as one of the most prominent providers of forex and CFDs. These solutions are geared toward novice traders, active day traders, and scalpers.

 

👉 IC Markets offers its customers innovative trading platforms, higher liquidity, and low-latency connection to better serve their needs. When you work with IC Markets, you will have access to the superior type of pricing that was previously reserved for high-net-worth individuals and investment banks alone.

 

👉 This IC Markets review for Uganda will provide local retail traders with the details that they need to consider whether IC Markets is suited to their unique trading objectives and needs.

 

IC Markets Distribution of Traders

IC Markets Review Distribution of Traders Uganda

 

👉 IC Markets currently has the largest market share in these countries:

➡️️ Vietnam – 11.7%

➡️️ Brazil – 8.9%

➡️️ United Kingdom – 6.5%

➡️️ Poland – 5.6%

➡️️ Australia – 3.9%

 

Popularity among traders who choose IC Markets

🥇 IC Markets is an Australian-based broker that offers global trading solutions to traders and while IC Markets does not have a large market share in Uganda, the broker is still part of the Top 50 brokers for Ugandan traders today.

 

IC Markets At a Glance

🏛 HeadquarteredSydney, Australia
🏙 Local office in Kampala?No
✅ Accepts Uganda traders?Yes
🗓 Year Founded2007
📞 Uganda Office Contact NumberNone
🤳 Social Media Platforms• Facebook
• Twitter
• Instagram
• LinkedIn
⚖️ RegulationASIC, CySEC, FSA, SCB
🪪 Regulatory Licenses• Seychelles – SD018
• Australia – AFSL 335692
• Cyprus – 362/18
• Bahamas – SIA-F214
⚖️ CMA Uganda RegulationNo
🚫 Regional RestrictionsUnited States, Canada, Iran, Yemen, and OFAC countries
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts3
📊 PAMM AccountsMAM Accounts
🤝 Liquidity Providers25
💸 Affiliate ProgramYes
📲 Order ExecutionMarket
📊 Average spreadFrom 0.0 pips
📞 Margin Call100%
🛑 Stop-Out50%
✅ Crypto trading offered?Yes
💰 Offers a UGX Account?No
👨‍💻 Dedicated Uganda Account Manager?No
📊 Maximum Leverage1:500
🚫 Leverage Restrictions for Uganda?No
💰 Minimum Deposit 718,000 UGX or an equivalent to $200
✅ Uganda Shilling Deposits Allowed?No
📊 Active Uganda Trader Stats100,000+
👥 Active Uganda-based IC Markets customersUnknown
💳 Uganda Daily Forex TurnoverUnknown, overall Forex Daily Trading Volume is over $6.6 Trillion
💵 Deposit and Withdrawal Options• Credit Card
• Debit Card
• PayPal
• Neteller
• Neteller VIP
• Skrill
• UnionPay
• Bank Wire Transfer
• Bpay
• FasaPay
• Broker to Broker
• POLi
• Thai Internet Banking
• Vietnamese Internet • Banking
• Rapidpay
• Klarna
🏦 Segregated Accounts with Uganda Banks?No
📊 Trading Platforms• MetaTrader 4
• MetaTrader 5
• cTrader
✔️ Tradable Assets• Forex
• Commodities
• Indices
• Bonds
• Cryptocurrencies
• Stocks
• Futures
💸 Offers USD/UGX currency pair?No
📈 USD/UGX Average SpreadN/A
📉 Offers Uganda Stocks and CFDsNone
🗣 Languages supported on WebsiteEnglish, Spanish, Russian, Thai, Malay, Vietnamese, Italian, Portuguese, and several others
📞 Customer Support LanguagesMultilingual
⏰ Customer Service Hours24/7
👥 Uganda-based customer support?No
✅ Bonuses and Promotions for Uganda tradersNo
📚 Education for Uganda beginner tradersYes
📱 Proprietary trading softwareNo
💰 Most Successful Ugandan TraderUnknown
✅ Is IC Markets a safe broker for Ugandan traders?Yes
📊 Rating for IC Markets Uganda9/10
🤝 Trust score for IC Markets Uganda85%
👉 Open an account👉 Open Account

IC Markets Regulation and Safety of Funds

IC Markets Review Regulation And Safety Uganda

 

IC Markets Regulation in Uganda

👉 IC Markets is not locally regulated in Uganda by the Bank of Uganda.

 

IC Markets Global Regulations

👉 Since its inception, IC Markets has seen tremendous expansion and has developed into one of the most reputable brands in the CFD trading industry. The company currently processes over 500,000 transactions per day with a total daily volume of 15 billion USD.

 

IC Markets Client Fund Security and Safety Features

👉 IC Markets, being an ASIC-regulated company, is subject to stringent financial restrictions, which include capital adequacy and audit criteria that must be adhered to.

 

👉 With IC Markets AU, all funds are kept in separate client accounts with Australian banks whenever money is placed into a trading account that is registered by ASIC.

 

👉 IC Markets is a reliable organization that satisfies the requirements of the Australian Client Money Handling Rules. In addition, IC Markets adheres to these regulations via the implementation of severe rules and procedures for the management and operation of these accounts.

 

👉 In terms of global clients, IC Markets Global ensures the security of all client funds. If a trader uses IC Markets Global to deposit money into their trading account, those monies are kept in separate customer accounts at reputable financial institutions.

 

👉 Traders in Uganda are obligated to take notice of the fact that IC Markets Global fully complies with the requirements of the Securities (Conduct of Business) Regulations 2018. In addition, when it comes to the management and administration of these accounts, IC Markets adheres to high standards and regulations.

 

👉 Lastly, in terms of IC Markets EU, as per the requirements of the CySEC law, IC Markets EU places client monies in separate trust accounts with leading European financial institutions.

 

👉 The management of customer money adheres to the requirements of MiFID II, and these funds are kept separate from IC Markets’ EU corporate funds. IC Markets keeps the money its customers pay it separate from its own operational funds and does not use either of them for company expenses or objectives.

 

IC Markets Awards and Recognition

👉 IC Markets is a reputable broker that has won a few awards during the years that it has been in operation, including the award for “Best Forex MT5 Broker”, issued by FX Scouts in 2020 to IC Markets.

Account Types and Features

IC Markets Review Account Types Uganda

 

👉 IC Markets offers three distinct retail investor accounts, each with its own collection of features and trading conditions that are customized to meet the requirements of a certain kind of trader. The following is a list of the several kinds of accounts from which Ugandans can choose:

➡️ cTrader Account

➡️ Raw Spread Account

➡️ Standard Account

 

IC Markets Live Trading Accounts

cTrader Account

👉 cTrader has created a wide range of innovative and powerful trading tools and charting options, all of which can be accessible via the user’s cTrader account, to cater to the requirements of CFD traders.

Account FeatureValue
💻 Trading PlatformcTrader
💸 Commission$3 per side and $6 per round turn
📊 Typical Average Spreads0.0 pips
💵 Minimum Deposit Requirement718,000 UGX or an equivalent to $200
📈 Leverage1:500
📱 Maximum positions per account2,000
📍 Server LocationLondon
💳 Micro trading allowed?Yes
📉 Currency Pairs64
📊 Index CFD TradingYes
📞 Margin Call100%
🛑 Stop-out50%
👆 One-Click Trading offered?Yes
☪️ Islamic AccountsYes
✔️ Trading Styles acceptedScalping, hedging, expert advisors, algorithmic strategies, etc.
👥 Programming LanguageC#
✔️ Suitable forDay traders, scalpers, active traders
💵 Demo Account offered?Yes

 

Raw Spread Account

👉 Trading using a Raw Spread Account offers the lowest spreads, but it also comes with a little commission expense. This account type is recommended for experienced traders. In addition, this account is well-known for the significant liquidity it offers and the speed with which trades are executed.

 

👉 Day traders and other sorts of high-frequency investors, such as expert advisors and scalpers, are the types of investors who would benefit most from having an account in this category.

Account FeatureValue
💻 Trading PlatformMetaTrader 4 and 5
💸 Commission$3.5 per side and $7 per round turn
📊 Typical Average Spreads0.0 pips
💵 Minimum Deposit Requirement718,000 UGX or an equivalent to $200
📈 Leverage1:500
📱 Maximum positions per account200
📍 Server LocationNew York
💳 Micro trading allowed?Yes
📉 Currency Pairs64
📊 Index CFD TradingYes
📞 Margin Call100%
🛑 Stop-out50%
👆 One-Click Trading offered?Yes
☪️ Islamic AccountsYes
✔️ Trading Styles acceptedScalping, hedging, expert advisors, algorithmic trading, etc.
👥 Programming LanguageMQL4
✔️ Suitable forExpert advisers, scalpers
💵 Demo Account offered?Yes

 

Standard Account

👉 The Standard Account offered by IC Markets does not charge fees and provides satisfactory execution times. This is the finest account for traders in Uganda who want a more traditional trading experience.

Account FeatureValue
💻 Trading PlatformMetaTrader 4 and 5
💸 CommissionNone
📊 Typical Average Spreads0.6 pips
💵 Minimum Deposit Requirement718,000 UGX or an equivalent to $200
📈 Leverage1:500
📱 Maximum positions per account200
📍 Server LocationNew York
💳 Micro trading allowed?Yes
📉 Currency Pairs64
📊 Index CFD TradingYes
📞 Margin Call100%
🛑 Stop-out50%
👆 One-Click Trading offered?Yes
☪️ Islamic AccountsYes
✔️ Trading Styles acceptedScalping, hedging, expert advisors, algorithmic trading, etc.
👥 Programming LanguageMQL4
✔️ Suitable forDiscretionary Traders

💵 Demo Account offered?Yes

 

IC Markets Base Account Currencies

👉 When dealing with IC Markets, Ugandans can register a live trading account in the following currencies:

➡️ EUR

➡️ USD

➡️ GBP

➡️ AUD

➡️ SGD

➡️ NZD

➡️ JPY

➡️ CHF

➡️ HKD

➡️ CAD

 

IC Markets Demo Account

IC Markets Review Demo Account Uganda

 

👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital. 

 

👉 There is a certain degree of risk involved when trading financial markets and IC Markets offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.

 

👉 Demo accounts with IC Markets do not get deactivated until they have been dormant for thirty days. Ugandan traders are provided with some virtual funds in the demo account, which can always be increased later.

 

👉 Demos are offered on all account options and trading platforms, and they provide traders with an opportunity to experience the real-time conditions of the market.

 

IC Markets Islamic Account

IC Markets Review Islamic Account Uganda

 

👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.

 

👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.

 

👉 Customers who, owing to their religious views, are unable to either earn or pay interest may take advantage of IC Markets’ Islamic accounts, which are also known as swap-free accounts. On the MT4, MT5, and cTrader platforms, the swap-free option is accessible to traders with whichever kind of account they want.

 

👉 Traders will be subject to a fixed commission price that ranges from 5 to 80 USD per lot every night, depending on the financial instrument they choose to trade, thus offsetting the absence of overnight fees.

How to open an Account with IC Markets

👉 To register an account with IC Markets, Ugandan traders can follow these steps:

 

👉 Step 1 – Go to The Official IC Markets Website

➡️ Go to the official IC Markets website (https://www.icmarkets.com/global/en/) and click on “Start Trading” 

IC Markets Review Account Registration Step 1

 

👉 Step 2 – Fill Out Your Details

➡️ Fill out your personal details such as your first and last name. Now proceed with the steps about yourself, your trading history, and click on “Next” to finish your registration.  

IC Markets Review Account Registration Step 2

Overall Rating

Min Deposit

USD 200 / 718,000 UGX

Regulators

ASIC 

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

65

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

IC Markets Vs NinjaTrader Vs eToro – Broker Comparison

IC MarketsNinjaTradereToro
⚖️ RegulationASIC, CySEC, FSA, SCBNFACySEC, FCA, ASIC, FinCEN, FINRA, SIPC, DNB, FSA
📱 Trading Platform• MetaTrader 4
• MetaTrader 5
• cTrader
• NinjaTrader Desktop
• NinjaTrader Mobile
• CQG Mobile
eToro proprietary platform
💰 Withdrawal FeeNoneYesYes
📊 Demo AccountYesYesYes
📈 Minimum Deposit718,000 UGX195,000 UGX

789,200 UGX
📈 Leverage1:500


1:501:400 (Professional)
📊 SpreadFrom 0.0 pips1.1 pipsFrom 1 pip
💰 CommissionsFrom $3 to $3.5From $0.09None
✴️ Margin Call/Stop-Out100%/50%NoneNone indicated
✴️ Order ExecutionMarketInstant, MarketInstant, Market
💳 No-Deposit BonusNoNoNo
📊 Cent AccountsNoNoNo
📈 Account Types• cTrader Account
• Raw Spread Account
• Standard Account
• Forex Account
• Futures Account
• Retail Account
• Professional Account
⚖️ CMA RegulationNoNoNo
💳 UGX DepositsNoNoNo
📊 Uganda Shilling AccountNoNoNo
👥 Customer Service Hours24/724/524/6
📊 Retail Investor Accounts321
☪️ Islamic AccountYesYesYes
📊 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade SizeUnlimited100 lots100 lots

IC Markets Trading Platforms

IC Markets Review Trading Platforms Uganda

 

👉 IC Markets offers Ugandan traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ cTrader

 

Desktop Platforms

IC Markets Review Desktop Platforms Uganda

 

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ cTrader

 

MetaTrader 4

👉 Customers of IC Markets have access to the MetaTrader 4 trading platform, which has won several industry awards. Because of its user-friendliness, feature-packed environment, and capacity for automated trading, MetaTrader 4 (MT4) is without a doubt the most widely used platform for foreign exchange trading in the whole globe.

 

👉 The MT4 trading platform has developed into a global community where technology suppliers may cater to the requirements of different types of traders.

 

👉 IC Markets aims to make available to traders in Uganda the most recent version of the MetaTrader 4 platform, which has been developed specifically to assist traders in Uganda in honing their trading methods.

 

MetaTrader 5

👉 IC Markets is certain that it provides Ugandan traders with all they want for effective market trading thanks to the newly released MetaTrader 5 trading platform.

 

👉 The better charting technology and order management features of MetaTrader 5 allow traders to monitor and manage their open positions more efficiently.

 

👉 This allows traders to make more informed trading decisions. It is a powerful trading platform that comes equipped with a plethora of brand-new capabilities that are designed to make the trading experience even more satisfying.

 

cTrader

👉 Customers are given access to a comprehensive trading platform in the form of cTrader, which is distinguished by its ability to combine the most advantageous aspects of both speed and liquidity. It makes use of proven technology that will make it possible for Ugandan traders to take their trading to an entirely new level.

 

👉 The cIAgo interface and platform are another one of cTrader’s many innovative features. Utilizing the source code editor together with the programming language C#, it is possible to create individualized technical indications that may be used for technical analysis.

 

👉 The built-in indicators of cTrader will be supplemented by any custom indicators that are developed by Ugandan users.

 

WebTrader Platforms

IC Markets Review WebTrader Platforms Uganda

 

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ cTrader

 

MetaTrader 4 and 5

👉 MetaTrader 4 and 5’s WebTrader is an order-placing platform that incorporates MetaTrader’s capabilities while maintaining the speed and accessibility of a web-based application. MetaTrader WebTrader is a web-based trading platform that enables traders to trade in the IC Markets environment without the need for a dealing desk.

 

👉 On the MetaTrader WebTrader platform, you may engage in trading with just one click, take advantage of small spreads and Level II pricing, and personalize your trader dashboard to keep an eye on open positions.

 

cTrader

👉 cTrader Web is a program that runs in a web browser and combines the speed and simplicity of web-based software with the order execution capabilities of cTrader. cTrader Web is a user-friendly web-based trading tool that makes trading with IC Markets more straightforward than it has ever been before.

 

Trading App

IC Markets Review Trading App Uganda

 

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ cTrader

 

MetaTrader 4 and 5

👉 Both MetaTrader 4 and MetaTrader 5 are offered as downloadable applications for mobile devices running the Android and iOS operating systems. Because of these applications, traders are thereafter able to access their accounts from any place in the world.

 

👉 IC Markets’ mobile MetaTrader application takes advantage of the landscape-to-portrait view switcher that is available on iOS and Android devices (a simple rotation of the device).

 

👉 The MetaTrader mobile application offers these extra capabilities in addition to providing trading with a single click, the ability to customize the interface, and extensive charting and analysis. Traders in Uganda do not need to make any sacrifices in terms of execution speed or quality to get the most out of the IC Markets mobile MetaTrader applications.

 

cTrader

👉 IC Markets cTrader for Android and iOS is a native piece of software that offers the highest level of Foreign Exchange trading possible. For effective technical analysis, all that is required of traders is to make use of the built-in trend indicators, oscillators, volatility measures, and line drawings inside the chart.

 

👉 IC Markets gives traders the ability to trade from anywhere in the world because of our low spreads and lightning-fast execution. Traders should anticipate reduced startup times and a more user-friendly interface, like what was available with cTrader Web for Mobile.

 

IC Markets Range of Markets

IC Markets Review Range of Markets Uganda

 

👉 Ugandan traders can expect the following range of markets from IC Markets:

➡️ Forex

➡️ Commodities

➡️ Indices

➡️ Bonds

➡️ Cryptocurrencies

➡️ Stocks

➡️ Futures

Broker Comparison for Range of Markets

IC MarketsNinjaTradereToro
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesNoYes
➡️️​ ETFsNoNoYes
➡️️​ CFDsYesNoYes
➡️️​ IndicesYesNoYes
➡️️​ StocksYesNoYes
➡️️​ CryptocurrencyYesNoYes
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesNoYes
➡️️​ BondsNoNoNo

Overall Rating

Min Deposit

USD 200 / 718,000 UGX

Regulators

ASIC 

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

65

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

IC Markets Trading and Non-Trading Fees

Spreads

IC Markets Review Spreads Uganda

 

👉 Ugandan traders may pick their own spreads with IC Markets, and the fees they pay will vary depending on the financial instrument being traded, the account type, and the current situation of the market. The following are the average spreads for trading the EUR/USD currency pair:

➡️ cTrader Account – 0.0 pips

➡️ Raw Spread Account – 0.0 pips

➡️ Standard Account – 0.6 pips

 

Commissions

IC Markets Review Commissions Uganda

 

👉 IC Markets charges fees to account holders with zero-price spread trading accounts to cover their broker’s expenses. Customers in Uganda who register a live trading account with IC Markets should be prepared to pay the following commissions:

➡️ cTrader Account – $3 per side and $6 per round turn

➡️ Raw Spread Account – $3.5 per side and $7 per round turn

 

👉 In addition, those who use the Islamic Account option that is offered by IC Markets can expect commission charges according to the instrument that they keep open. These charges are indicated in the table below. In addition to the additional commissions, Muslim traders must note that triple charges apply every Friday night to account for the weekend gap.

 

👉 In addition, Muslim traders who use the Islamic Account must note that IC Markets reserves the right to request additional documentation from traders before approving swap-free privileges.

 

Overnight Fees, Rollovers, or Swaps

IC Markets Review Overnight Fees Uganda

 

👉 The overnight interest added or removed to keep a trade open overnight is referred to as a swap rate or rollover. The overnight interest rate differentials between the two currencies are considered when determining swap rates for a currency pair.

 

👉 Traders must remember that if they keep their positions open until the next trading day, they will be charged a fee. Certain financial instruments may have negative swap rates on both sides of the transaction.

 

👉 Trading platforms employ a point system to calculate swaps, which are subsequently converted into the account base currency. Every financial instrument has its own swap rate, which is measured by the usual lot size of 100,000 units of the base currency. Some of the usual overnight costs charged by IC Markets are as follows:

➡️ EUR/USD – a long swap of 3.9 and a short swap of 0.75

➡️ GBP/USD – a long swap of -1.82 and a short swap of -3.91

➡️ USD/JPY – a long swap of 1.75 and a short swap of -4.6

➡️ XAU/USD – a long swap of -3.5 and a short swap of -0.8

➡️ XAG/USD – a long swap of -0.98 and a short swap of -0.2

➡️ USTEC – a long swap of -1.12 and a short swap of -1.06

➡️ XBR/USD – a long swap of 7.04 and a short swap of -10.9

➡️ XTI/USD – a long swap of 6.01 and a short swap of -8.82

 

Deposit and Withdrawal Fees

👉 IC Markets does not charge any fees on either deposits or withdrawals. However, Ugandan traders may face processing fees from their payment providers.

 

Inactivity Fees

👉 IC Markets does not charge any inactivity fees on dormant accounts that are not being used by Ugandan traders.

 

Currency Conversion Fees

👉 Non-trading fees are not charged by IC Markets, although Ugandan traders could be subject to currency conversion fees if they make deposits in currencies other than AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, or CHF.

 

👉 These are the primary account currencies that are accepted; if deposits or withdrawals are made in UGX, currency conversion fees may apply.

IC Markets Deposits and Withdrawals

IC Markets Review Deposits And Withdrawals Uganda

 

👉 IC Markets offers the following deposit and withdrawal methods:

➡️ Credit Card

➡️ Debit Card

➡️ PayPal

➡️ Neteller

➡️ Neteller VIP

➡️ Skrill

➡️ UnionPay

➡️ Bank Wire Transfer

➡️ Bpay

➡️ FasaPay

➡️ Broker to Broker

➡️ POLi

➡️ Thai Internet Banking

➡️ Vietnamese Internet Banking

➡️ Rapidpay

➡️ Klarna

 

How to Deposit Funds with IC Markets

IC Markets Review How To Deposit Funds Uganda

 

👉 To deposit funds to an account with IC Markets, Ugandan traders can follow these steps:

➡️ To deposit money into an IC Markets account, traders must first connect to their trading account and then choose a deposit method and currency.

➡️ Following that, traders can indicate the amount they want to deposit and carry out any additional steps required by their payment provider to finalize and complete the deposit.

 

IC Markets Fund Withdrawal Process

IC Markets Review How To Withdraw Funds Uganda

 

👉 To withdraw funds from an account with IC Markets, Ugandan traders can follow these steps:

➡️ Ugandans can log into their Client Area and access the option to withdraw funds from the dashboard.

➡️ Traders can complete the withdrawal request by selecting the account from where the withdrawal will be made, indicating the amount, and choosing the withdrawal method.

➡️ Traders must note that withdrawal requests that are submitted before noon AEST/AEDT will be processed the next business day.

IC Markets Education and Research

IC Markets Review Education And Research Uganda

 

Education

IC Markets offers the following Educational Materials:

➡️ Trading Knowledge

➡️ Advantages of Forex

➡️ Advantages of CFDs

➡️ Video Tutorials

➡️ Web TV

➡️ Webinars

➡️ Podcasts

➡️ Getting Started – which contains 10 lessons

 

👉 IC Markets offers Ugandan traders the following Research and Trading Tools:

➡️ Economic Calendar

➡️ Market Analysis Blog

➡️ Forex Calculators

➡️ Forex Glossary

IC Markets Bonuses and Promotions

👉 IC Markets does not currently offer any bonuses or promotions to Ugandan traders.

How to open an Affiliate Account with IC Markets

IC Markets Review Affiliate Program Uganda

 

👉 To register an Affiliate Account, Ugandans can follow these steps:

➡️ Ugandans can navigate to the IC Markets website and locate the “Partners” link at the top of the homepage.

➡️ A new page will load, and prospective affiliates can read through IC Markets’ offering.

➡️ Prospective affiliates can select the green “Join Now” banner to get started on their application.

➡️ Prospective affiliates can complete the application with the relevant and required information and submit it for review by IC Markets.

➡️ The turnaround time for feedback is typically one business day and once approved, an IC Markets team member will advise the new affiliate on how they can start referring clients.

 

IC Markets Affiliate Program Features

👉 IC Markets is a dynamic and appealing affiliate network that compensates partners in a competitive and rewarding way based on the trading volume of their referrals. The IC Markets affiliate program requires partners to recruit new active traders.

 

👉 Partners of IC Markets have access to tools, features, and specialist customer care. Working with IC Markets may benefit affiliates in several ways:

➡️ Access to the greatest trading results.

➡️ The capacity to grow a company while also helping clients.

➡️ Converting leads with IC Markets’ skilled assistance.

➡️ Gain access to the potential to grow your company.

➡️ Receive financial advice and support from a professional affiliate team.

➡️ Maintain a competitive advantage.

➡️ Receive comprehensive reports and insights.

➡️ Use IC Markets to have access to flexible finance choices.

 

IC Markets Customer Support

👉 IC Markets offers a dedicated support staff running 24/7 through live chat, email, and phone. Live chat and phone support may help with any general inquiries and issues.

 

👉 However, enquiries directed at specific departments such as the accounts department are only accessible by email. Additionally, IC Markets has a detailed FAQ section offering pertinent answers to the most asked issues.

 

IC Markets Corporate Social Responsibility

👉 There is currently no information on IC Markets’ CSR initiatives or projects.

Verdict on IC Markets

👉 IC Markets is one of the most reliable venues for carrying out online trading since it is subject to the regulation and authorization of ASIC, CySEC, FSA, and SCB. With IC Markets, you may trade a wide variety of financial products using three dynamic trading accounts.

 

👉 In addition, IC Markets provides account holders with a multitude of perks, such as the ability to make deposits and withdrawals free of charge, quick execution of trades, complete confidentiality of information, and many more.

 

👉 Derivatives trading is taken to a whole new level by IC Markets and the broker offers Ugandan traders the illustrious MetaTrader 4, MetaTrader 5, and cTrader trading platforms.

IC Markets Current Popularity Trends

👉 According to Google Trends, IC Markets has seen an increase in Google Searches in the past month. 

IC Markets Current Popularity Trends Uganda

Overall Rating

Min Deposit

USD 200 / 718,000 UGX

Regulators

ASIC 

Trading Desk

Metatrader 4

Crypto

Yes

Total Pairs

65

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

IC Markets Pros and Cons

✔️ Pros❌ Cons
IC Markets has a high trust score of 85 out of 100 with regulations through four market regulatorsThere is no UGX-denominated account and UGX is not an accepted deposit or withdrawal currency which means that currency conversion fees are charged
Ugandan traders can choose from three account types which are hosted on cTrader, MetaTrader 4, and MetaTrader 5There is no proprietary trading platform offered to Ugandans
There are free deposits and withdrawals offered through a plethora of payment methodsFixed spread accounts are not offered by IC Markets
There are instant deposits and withdrawals offered to Ugandans
IC Markets does not apply an inactivity fee on dormant accounts
There is a True ECN model that ensures that Ugandans can expect the best possible pricing
There is a demo account and an Islamic account provided
The account registration for a real account is quick and hassle-free

Frequently Asked Questions

Is IC Markets a true ECN?

Yes, IC Markets is one of few true ECN brokers that source some of the best liquidity sourced from 25 trusted liquidity providers.

 

Can I trade gold on IC Markets?

Yes, trading the spot price of metals such as gold or silver against the United States Dollar or the Euro is possible through IC Markets. Additionally, trading the spot price of platinum or palladium against the United States Dollar as a currency pair is possible through IC Markets.

 

Is IC Markets regulated?

Yes, IC Markets is well-regulated by these market regulators in Australia, Cyprus, Seychelles, and the Bahamas:

  • Australian Securities and Investments Commission (ASIC)
  • Cyprus Securities and Exchange Commission (CySEC)
  • Financial Services Authority (FSA)
  • Securities Commission of the Bahamas (SCB)

 

Is IC Markets halal?

Yes, IC Markets offers Islamic trading conditions.

 

Customers who, according to their religious views, are unable to either earn or pay interest can take advantage of the Islamic accounts offered by IC Markets.

 

These accounts are also known as swap-free accounts. On the cTrader, Raw Spread and Standard account types, as well as on the MT4, MT5, and cTrader trading platforms, you can trade without being charged swap fees.

 

What is the withdrawal time for IC Markets?

Withdrawals with IC Markets can either be instant or they can take up to 14 days as follows:

  • PayPal, Neteller, Neteller VIP, Skrill, UnionPay – Instant
  • Thai and Vietnamese Internet Banking – One business days
  • Bpay, POLi – 2 to 3 business days
  • Debit/Credit Cards, FasaPay, Broker to Broker, Rapidpay, Klarna – 3 to 5 business days
  • Bank Wire Transfer – up to 14 business days

 

Does IC Markets have Nasdaq?

Yes, Nasdaq is an available CFD with IC Markets.

 

Does IC Markets have a UGX Account?

No, IC Markets only offers trading accounts with base currencies in AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, or CHF.

 

Does IC Markets have Volatility 75?

Yes, VIX is an available financial instrument that can be traded as a Futures CFD.

 

Is IC Markets safe or a scam?

IC Markets is a safe broker. This conclusion is based on the verified regulatory status, the client fund segregation and anti-money laundering procedures, KYC requirements, and the overall trading environment provided by IC Markets.

Conclusion

👉 Now it is your turn to participate:

➡️ Do you have any prior experience with IC Markets?

➡️ What was the determining factor in your decision to engage with IC Markets?

➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?

➡️ Have you experienced any issues with IC Markets such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?

 

👉 Regardless, please share your thoughts in the comments below.

 

Addendum/Disclosure:

👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

10/10 - (1 vote)