International Capital Markets

Last updated
International Capital Markets
IndustryFinance
Forex trading
Founded2007
FounderAndrew Budzinski
Headquarters
Sydney
,
Australia
Website www.icmarkets.com

International Capital Markets is an Australian forex and CFD broker [1] launched in 2007. [2] It is currently headquartered in Sydney, Australia. [3] [4] It currently sponsors several football clubs such as Bayer Leverkusen and other teams from Bundesliga and La Liga.

Contents

History

Andrew Budzinksi formed International Capital Markets (also known as IC Markets) in 2007. [5]

After the Swiss Central Bank dropped the Swiss franc's peg against the euro in 2015, the company announced it would cover 90% of client negative balances after receiving complaints from clients about losses caused by fluctuations in pricing. [6]

IC Markets appointed Denys Denisov as the company's general manager in 2017. [7] He was replaced by former Rakuten Securities Australia chief operating officer Nick Twidale in 2019. [8]

IC Markets launched operations in Cyprus in 2019 after securing a CySEC regulation in 2018. [9] [10] [11]

IC Markets announced it was sponsoring German Bundesliga football clubs Bayer Leverkusen, Hertha BSC, FC Augsburg, Arminia Bielefeld, SpVgg Greuther Fürth, and VfL Bochum in 2021. [1] It also announced sponsorships for La Liga football clubs Real Sociedad, Athletic Club Bilbao, Getafe CF, Granada CF, RCD Mallorca, and Cádiz CF. [12]

IC Markets had initially also signed on as a sponsor for Inter Milan after the club's deal with Pirelli expired, [13] [14] but the club canceled the contract shortly after it was signed. [15] Inter Milan accused IC Markets of failing to comply with contractual payment obligations, while IC Markets denied the accusations. Since IC Markets had made an initial deposit on the agreement, the company sued Inter Milan for reimbursement of the initial payment of €2.5 million. [16]

IC Markets also joined the self-regulatory organization Financial Commission in 2021. [17]

In 2022, the UK's Financial Conduct Authority warned against a clone firm investment scam involving an unauthorized organization known as ICMarketsPro impersonating IC Markets. [18]

Services

IC Markets operates in regions such as Latin America, [19] Africa, [20] Europe, [21] and its native Australia. [22] The organization runs its European operations with its regulated entity in Cyprus.

IC Markets announced support for PayPal fund transfers in 2017. [23]

In 2021, IC Markets announced support for digital currency CFDs on Binance Coin, Cardano, Dogecoin, Tezos, and Uniswap. [24]

IC Markets also offers the Metatrader 4 and 5 and cTrader electronic trading platforms. [25] [26] [27]

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References

  1. 1 2 "IC Markets Signs Sponsorship Deals with Six German Football Clubs". Financial and Business News | Finance Magnates. 26 October 2021.
  2. ↑ "IC Markets Review 2021". www.publicfinanceinternational.org. March 20, 2022.
  3. ↑ "IC Markets unveils a sponsorship deal with six German Bundesliga clubs - FinanceFeeds".
  4. ↑ Shapiro, Jonathan (January 26, 2015). "'Fake margin calls': Forex traders furious after losses". The Sydney Morning Herald.
  5. ↑ "Trading risks reap reward". January 8, 2022 – via PressReader.
  6. ↑ "IC Markets Covering 90% of Client Negative Losses from Swiss Franc Volatility". Financial and Business News | Finance Magnates. 5 February 2015.
  7. ↑ "IC Markets (EU) Secures Denys Denisov as General Manager". Financial and Business News | Finance Magnates. 18 July 2019.
  8. ↑ "IC Markets Appoints Nick Twidale as General Manager | Finance Magnates". Financial and Business News | Finance Magnates. 11 December 2019.
  9. ↑ "IC Markets Obtains CySEC License, Opens Cyprus Office | Finance Magnates". Financial and Business News | Finance Magnates. 19 October 2018.
  10. ↑ "IC Markets sees trading volume above $1 trillion mark in November - FinanceFeeds".
  11. ↑ "Inter Milan secure first sleeve sponsor with €10m IC Markets deal". July 13, 2020.
  12. ↑ "Sportfive negotiates six LaLiga club deals with forex broker IC Markets". SportBusiness. November 3, 2021.
  13. ↑ "IC Markets To Become Inter's First Shirt Sleeve Sponsor From Next Season". SempreInter.com. July 9, 2020.
  14. ↑ Spaziante, Matteo (October 21, 2020). "Consob oscura IC Markets: doveva essere sponsor Inter".
  15. ↑ "Inter secure DigitalBits sleeve sponsorship in €85m "product partnership deal"". September 6, 2021.
  16. ↑ Segal, Gerald (October 28, 2020). "Exclusive: IC Markets suing Inter Milan after sponsorship deal cancelled". FX News Group.
  17. ↑ "IC Markets joins Financial Commission as a member - FinanceFeeds".
  18. ↑ "FCA alerts public to ICMarketPro as crackdown on clone scams continues - FinanceFeeds".
  19. ↑ "5 Best Forex Brokers in Latin America | Latin Post - Latin news, immigration, politics, culture".
  20. ↑ "The Best 5 Forex Broker For Africa In 2021". February 11, 2021.
  21. ↑ "Best Forex Brokers in Europe". February 2, 2022.
  22. ↑ "Le broker forex IC Markets publie un volume record de 447 milliards". June 19, 2018.
  23. ↑ "IC Markets accepts PayPal fund transfers". 11 April 2017.
  24. ↑ "IC Markets boosts cryptocurrency offering with 5 new products". www.fxempire.com. 21 June 2023.
  25. ↑ "IC Markets MT4: Trader Union Expert Review". February 10, 2022.
  26. ↑ "IC Markets Review: Key Findings for 2022". ForexBrokers.com.
  27. ↑ Kirilova, Valentina (October 11, 2017). "IC Markets launches Autochartist to their clients through MT4, MT5 and cTrader".
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