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IC Markets is an Australian broker founded in 2007. Regulated by ASIC, this broker enables segregated client accounts protected by the National Bank of Australia. IC Markets is famous for its spreads starting from 0.0 pips, as well as for instant order execution through Equinix NY4 and LD5, and liquidity providers. This broker is highly recommended by professional traders who prefer exotic investment methods, such as ZuluTrade, and MyFxBook, as well as exotic tools (market depth analysis, closing trades by templates, etc).

News IC Markets

November 20, 2020 in 18:00

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ASIC’s product intervention

ASIC’s product intervention

ASIC made a recent announcement that will change the way we can offer our products and services to retail clients of our ASIC licensed entity. We’ve put together a summary of the main reforms below to help you understand these changes and how they may affect you. These changes are due to come into effect from 29 March 2021.

Changes to leverage caps

A key focus of the change is leverage restrictions, which will affect the amount of margin retail clients are required to deposit to trade CFDs or Forex. Here’s how the proposed changes look:
-30:1 leverage on major currency pairs
-20:1 leverage on major indices, gold and minor currency pairs
-10:1 leverage on commodities (excluding gold) and minor indices
-2:1 leverage on cryptocurrency assets
-5:1 leverage on shares or other underlying assets
-Compulsory margin close-outs

If the funds you hold in your account fall to less than 50% of the total initial margin required for all of your open trades, there is a requirement to close out your positions.