Here's a brief overview of the three online trading platforms - IC Markets, Tickmill, and RoboForex - with their advantages and disadvantages. I'm still researching RoboForex and will provide more details soon.
IC Markets is a well-regulated online broker that offers a total of 3,583 tradeable instruments across its Australian, Cyprus, and Seychelles-based entities. It specializes in forex trading and CFDs, including cryptocurrency CFDs.
- IC Markets maintains regulatory status in one tier-1 jurisdiction and one tier-2 jurisdiction, which makes it a safe broker for forex and CFD trading.
- It offers competitive pricing across all account types with low average spreads, and its trading costs are considered to rival the best low-cost forex brokers.
- The third-party research and trading tool plugins enhance the IC Markets MetaTrader offering, and it has been rated as the top-ranked MetaTrader broker in 2023.
- The available range of markets has expanded significantly, from 204 symbols to over 3,500.
- IC Markets is an excellent choice for algorithmic traders due to its low-cost, scalable execution.
- The broker’s research and educational offerings have improved recently, with the addition of new video series and blog articles.
- The newly added IC Social mobile app complements IC Markets' variety of social copy trading apps.
Tickmill is a low-cost forex and CFD broker regulated in several jurisdictions including the UK, Cyprus, Seychelles, South Africa, and Malaysia. It is known for its low forex and non-trading fees and digital account opening process.
- Tickmill has top-tier regulation in the UK and offers compensation in case of broker bankruptcy.
- Account opening is fast, easy, and fully digital, with a minimum deposit of $100.
- Many options are available for deposit and withdrawal, and all are free of charge.
- Tickmill has low forex fees and average CFD fees, with no fee for deposit, withdrawal, or inactivity.
- It has received a high rating for customer service and education from BrokerChooser.
RoboForex is a rapidly expanding multi-asset broker with a global presence. It was established in 2009 and has its headquarters in Belize. The broker offers an excellent selection of more than 12,000 assets spanning eight classes and competitive trading costs, making it a popular choice among traders.
- RoboForex is regulated by the Financial Services Commission in Belize, providing a secure environment for trading with an industry-leading protection program. It is also a member of the Hong Kong-based Financial Commission, a trusted independent self-regulatory organization and external dispute resolution body globally. RoboForex has received the Verify My Trade certificate, confirming its compliance with strict requirements, and it offers a compensation fund coverage up to €20,000 per claim and a Civil Liability insurance program with a limit of €5,000,000.
- It offers one of the most competitive trading environments in the industry, with high leverage and tight spreads. The commission-free Pro account features an average spread of 1.4 pips or $14.00 per standard lot. The broker also offers a positive swap on EUR/USD short positions, meaning traders get paid money1.
- RoboForex provides an intuitive proprietary web-based trading platform with full support for algorithmic trading, in addition to MetaTrader 4 and MetaTrader 5.
- The broker offers a generous bonus program, affiliate offers, and instant withdrawals. They also offer a sign-up bonus of $30 USD on the Pro and ProCent accounts with a minimum deposit of $10 USD.
The world of online trading can be overwhelming, but platforms like IC Markets, Tickmill and Roboforex make the process more manageable. These brokers offer a range of features that cater to both novice and experienced traders. So, whether you're just starting out or looking to try a new platform, consider opening an account with IC Markets or Tickmill or Roboforex. They have their strengths and weaknesses, but they are committed to providing a top-notch trading experience.