Over the last three years trading with IC Markets, many people have not had many issues and dealing with IC Markets continues to be a delight. Among the list of enormous benefits of dealing with such markets is that they accept deposits in 8 different foreign currencies AUD, USD, CHF, JPY, EUR, HKD, NZD, and GBP.
Being able to fund my primary account and secondary accounts in numerous currencies other than USD which the majority of forex brokers provide means that you don’t have to deal with foreign exchange risk on my cash.
The only risks that you have got to deal with are those bought through your fx trading, and this can be easily be managed with stop loss orders. Therefore you need to understand how to handle IC markets without any loss of cash.
Tips on trading with the IC markets?
1. Asses brokers first
You should first examine the brokers and foremost by looking at the spreads that they display. Spreads are naturally substantially more important if you are scalping and day trading, however, for those forex traders who hold open long positions, spreads are not something that you ought to be worried about. You should consider the spreads of the brokers in the IC Markets to trade with the best ones who won’t exploit you.
2. Consider slippage
This is also an important aspect to consider if you plan on scalping the market or using high-frequency expert advisors. Slippage at IC Markets does exist though it is negligible and to their credit, they also pass on positive slippage in their client’s favor. If you’re dealing with a True ECN forex provider you need to think about this, however, do not be discouraged as it works both ways, this is particularly the case when trading with IC Markets.
3. Understand the funding methods
IC Markets also offer some different funding methods like credit card, wire transfer, and Moneybookers. Having a range of funding methods enables you to fund your account at any time without much hassle. Be sure, you will not any problems depositing money or withdrawing it. It is, therefore, crucial to understanding the funding process when you want to trade with the IC markets.
4. Consider ordering latency
Having trades reach the market quickly and receiving deal confirmations rapidly is critical. Remember that the trade speeds at IC Markets every day and the typical execution time is 130 milliseconds, the quickest speed that I have experienced is 40 milliseconds.