Business

Expert IC Markets Review: What kind of broker is IC Markets?

The affordable cost and scalable execution of IC Markets make it an excellent choice for algorithmic traders. Although it supports various third-party plugins and applications, IC Markets’ research and educational offerings fall short of those provided by leaders in the field. The IC Markets MetaTrader offering is improved with plugins for third-party research and trading tools. Top-ranked MetaTrader broker for 2022 is IC Markets.

Review of IC Markets by an expert

The Traders Union has partnered with IC Markets Trading Company for many years, during which time it has established its dependability. Because of the low spreads it offers to traders, the availability of micro-lots (0.01), and the high standard of customer care, the broker, is well-liked among Forex market participants. The business is among the fastest in the world in executing orders quickly.

All traders, regardless of expertise or experience level, are catered to by this broker. Any level of trader can use IC Markets’ services. We have examined IC market reviews by clients concerning the broker’s work over our partnership; none of these reviews had substantial complaints about the company’s performance. The business offers clients prompt assistance settling claims and employment-related and financial concerns.

Customers have no trouble accessing their accounts because of the fast connection of the IC Markets Trading Website. The user has access to additional resources, including training and analytical materials. These elements add to the strong foundation that gives IC Markets review its reputation as a trusted trading platform.

What kind of broker is IC Markets?

The IC Markets, an ECN trading environment supplier, offers real spreads starting as 0.0 pip for 60 forex pairs from liquidity providers drawn from more than 50 different banks and dark pool liquidity sources. The lack of a dealing desk and the absence of price manipulation at IC Markets are advantages for high-volume traders, scalpers, automated trading programs (EAs), and robots.

How Forex Trading Taxation Works in the UK

You will be subject to one of four taxation regimes as a forex trading tax UK on any gains. The volume of your trade or employment status may automatically qualify you for one or the other, but knowing the fundamentals can help you organize your business to maximize your earnings while reducing your tax liabilities.

  • Income tax – private persons pay tax on their total income
  • Capital gains tax – tax owed on earnings made from the sale of assets (shares)
  • Corporation tax – Limited liability firms pay income tax.
  • Stamp Duty Reserve tax – when you purchase shares, you pay tax

Since the bulk of persons who trade forex do so as professional traders rather than speculators, we’ll concentrate primarily on the income tax and capital gains tax regimes for this essay. But how do you determine which category applies?

Forex Taxes and Your Trading Instrument

Once you’ve identified which tax regime applies to your particular circumstance, you should consider the sort of trading instrument used in each transaction. This will affect the other two tax regimes we discussed, capital gains and the Stamp Duty Reserve Tax.

For instance, if your primary activity is spread betting, you won’t be subject to capital gains tax or Stamp Duty Reserve tax on any profits as you don’t own the underlying assets. You must record this money as gambling winnings since HMRC views this kind of trading activity as a kind of betting.

The same regulations that apply to traders of bitcoin, binary options, and other commodities also apply to those who trade contracts for difference (CFDs). As a result, any earnings will be subject to the Stamp Duty Reserve tax and capital gains.

Conclusion

I’ve compiled an IC markets review in this post. In summary, IC Markets introduced a truly sophisticated trading offering that allows you to select from a variety of options to tailor solutions to nearly any trading parameter, including which instrument to trade, a platform to use, an account to open, the choice to use social or auto trading, or even the chance to become a partner. The execution, platform optimization, tools available, quality of support provided, and range of tools IC Market’s review of technical optimization is undoubtedly among the best.

Related Articles

Leave a Reply

Back to top button