Are you looking for a reputable and effective forex trading platform? Traders should not ignore ICMarkets MT4, a great forex trading platform, that brings traders many benefits and conveniences. In this article, Learn Forex Trading will guide you in detail about ICMarkets MT4. Overview of account types, advantages, and notes when trading with ICMarkets.
Overview of ICMarkets MT4
Before starting to trade ICMarkets MT4. Traders need to clearly understand the following basic information about the exchange and platform.
Introducing ICMarkets
ICMarkets is one of the top forex trading exchanges today. The exchange was established in 2007 in Australia. ICMarkets is licensed and supervised by ASIC (Australian Securities and Investments Commission) and FSA (Seychelles Financial Services Authority). Ensuring credibility and transparency for traders.
ICMarkets provides customers with a variety of trading products. Including forex, stocks, indices, commodities, cryptocurrencies, bonds and exchange-traded funds.
See more: How to register ICMarkets broker account
What is the MT4 forex trading platform?
MT4 stands for MetaTrader 4, the most popular forex trading platform today. MT4 was developed by MetaQuotes Software in 2005. It then became the choice of millions of traders worldwide. MT4 has many outstanding features, such as:
- The platform interface is friendly and easy to use for traders. Allows traders to customize and adjust according to needs.
- Supports multiple currencies, charts, technical indicators, analysis tools, and market news.
- Allows traders to use automated trading strategies. Or create your strategies using the MQL4 programming language.
- The platform is friendly to different devices. From computers, smartphones, and tablets.
- Connect with many liquidity providers, ensuring fast, accurate, and stable transactions.
Overview of ICMarkets MT4
ICMarkets MT4 is an upgraded version of the MT4 forex trading platform. Improved and optimized by ICMarkets to bring the best trading experience to customers. ICMarkets MT4 has the following advantages:
- Provides real market prices, no dealing desk intervention, no requotes, and no restrictions.
- Using the Equinix NY4 server system, a world-leading financial data center, to ensure fast order execution speed, within just 40 milliseconds.
- Allows traders to trade with leverage up to 1:500, minimum lot size is 0.01 and the distance between orders is 0 (zero freeze level).
- Has the lowest spreads on the market, from only 0 pips, and competitive commissions, from only 3.5 USD per trading lot.
- Supports many deposit and withdrawal methods, including credit card, debit card, bank transfer, Skrill, Neteller, FasaPay, PayPal, and Bitcoin.
ICMarkets MT4
Types of trading accounts with ICMarkets MT4
ICMarkets MT4 offers traders two main types of trading accounts, Standard and Raw Spread. Both account types have the following in common:
- Base currency: USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, CAD.
- Several trading products: 60 currency pairs, 4 precious metals, 11 indices, 5 cryptocurrencies, 19 stocks, 2 bonds, and 4 trading funds.
- Maximum leverage: 1:500.
- Minimum lot size: 0.01.
- Maximum lot size: 100.
- Maximum number of open orders: 200.
- Maximum number of pending orders: 200.
- Margin call: 100%.
- Stop out: 50%.
However, the two account types also have differences, mainly in spreads and commissions. As follows:
- Standard account: no commission, the average spread is 1.1 pip.
- Raw Spread account: charges a commission of 3.5 USD per trading lot, average spread is 0.1 pip.
Traders can choose the account type that suits their goals, style, and trading strategy. In addition, ICMarkets MT4 also offers a free demo account, allowing traders to test the trading platform and practice trading skills.
Advantages of trading with ICMarkets MT4
ICMarkets has many attractive advantages for traders when trading with the MT4 platform.
Modern forex trading platform
If traders want to trade forex effectively. Traders need a modern, powerful, and reliable forex trading platform. A modern forex trading platform is a software or web application. Allows you to connect to the forex market, view prices, analyze the market, place trades, manage risks, and much more. A modern forex trading platform also offers you many advanced features, such as
Policies and quick deposit and withdrawal times
ICMarkets MT4 has fast, convenient, and safe deposit and withdrawal policies and times for traders. Traders can fund their trading accounts using a variety of methods, including credit cards, debit cards, bank transfers, Skrill, Neteller, FasaPay, PayPal, and Bitcoin. Deposit processing times are usually instant, except for bank transfers which can take 2 to 5 business days. The minimum deposit amount is 200 USD, and there are no deposit fees.
Traders can also withdraw funds from their trading accounts using the same deposit methods. Withdrawal processing time is usually within 24 hours, except for bank transfers which can take 3 to 10 business days.
Trade forex with low spreads, fast transactions
One outstanding advantage when Icmarkets reviews is the lowest spread in the market. From just 0 pips, and competitive commissions, from only 3.5 USD per trading lot. Spread is the difference between the buying price and selling price of a currency pair, and commission is the service fee that the exchange collects from traders. Low spreads and commissions will help traders save trading costs, increase profitability, and improve trading performance.
In addition, ICMarkets MT4 also has fast order execution speed, within just 40 milliseconds. Thanks to using the Equinix NY4 server system. This is the world’s leading financial data center. Fast order execution speed will help traders trade accurately, stably, and effectively, especially when the market has strong fluctuations.
See more: Opening and verifying an ICMarkets account
Notes for traders when trading with ICMarkets
While ICMarkets MT4 is a reputable and effective forex trading platform. Traders also need to keep in mind a few things when trading with ICMarkets, such as:
- Traders need to comply with the regulations and terms of ICMarkets, such as not trading using fraudulent software, not trading using illegal information, and not trading using fraudulent software. Invalid payment method, and more. If violated, traders may be warned, fined, suspended, or have their trading accounts terminated by ICMarkets.
- Traders need basic forex trading knowledge and skills, such as how to analyze the market, how to create a trading plan, how to manage risk, how to use trading tools, and more.
- Comply with the regulations and terms of the exchange, have basic forex trading knowledge and skills, and have a forex trading strategy that suits you. If you can do these things, traders will have many opportunities to be successful and profitable when trading forex with ICMarkets MT4 or ICMarkets MT5.
Notes for traders when trading with ICMarkets MT5
summary
So in the above article, Learn Forex Trading has introduced information to you about ICMarkets MT4. This is a great forex trading platform, bringing traders many benefits. Traders can trade forex with low spreads, competitive commissions, fast order execution speed, many types of trading products, many deposit and withdrawal methods, and many other features.
FAQs:
When was ICMarkets established?
ICMarkets is one of the world’s leading forex trading exchanges, established in 2007 in Australia.
What is MT4?
MT4 stands for MetaTrader 4, the most popular forex trading platform today.
What account types does ICMarkets MT4 support?
ICMarkets MT4 offers traders two main account types, Standard and Raw Spread. Traders can choose the account type that suits their goals, style, and trading strategy.
