How is customer service at IC Markets?
When using an online broker, you may sometimes need assistance to locate a feature or sort out a problem. In such situations, it's good to have prompt and helpful customer service on hand.
IC Markets offers OK customer support across multiple channels, but occasionally you can run into long waits or less-than-helpful responses. Read on for details and comparisons.
I've tested dozens of brokers over the years, which often included contacting their help desks over various issues. IC Markets has decent customer service but I saw room for improvement:
- You can reach IC Markets customer service via several channels.
- IC Markets's help desk responds quickly to nearly all queries.
- IC Markets customer support is sometimes helpful, sometimes less so.
- Looking for better treatment? See how IC Markets compares to its rivals.
Disclaimer: 70.64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Before we begin, let's see if IC Markets is available in your country
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70.64% of retail CFD accounts lose money
| Broker | Customer service score |
|---|---|
| IC Markets | 3.7 /5 |
| Pepperstone | 4.0 /5 |
| Vantage | 3.5 /5 |
70.64% of retail CFD accounts lose money
Reach customer service via several channels
Like most companies, online brokers typically offer customer service via several channels. Phone support is usually best if you need to quickly sort out a complicated problem or emergency, while more and more users prefer live chat for simple queries. Meanwhile, email support remains your best friend if you're an introvert, or for more complex questions that aren't so time sensitive.
You will likely face many types of issues during trading, so choose a broker where you can reach all three modes of support. Here's how you can get in touch with IC Markets:
- Live chat
- Phone
The good news is that IC Markets offers round-the-clock customer support, so you can reach out to them even if you're a night owl or if you live half a world away.
Our first-hand customer service experience at IC Markets
IC Markets has great phone support. We were connected to the customer service representative within a minute and we received relevant answers.
The email support works very well. We got relevant answers within a day.
The live chat service, however, could be much better. It starts with a chatbot, which does not provide relevant answers at all. We had to wait a relatively long time to connect with a live agent, and were not always satsifed with the relevancy of the answers.
We appreciated the 24/7 availability of customer support.
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70.64% of retail CFD accounts lose money
User forums as an alternative to customer service
Whatever your question or problem is, you're probably not alone. This makes online forums of traders a great source of info about brokers in addition to (or even instead of) official customer service. RandomUser1234 won't be able to help you restore your account, but they can probably offer good tips on platform usage or tell you whether a certain stock is available at a broker.
Some brokers have their own community forums on their trading platforms or websites; alternatively, you can always turn to well-known forum aggregators such as Reddit. Many popular brokers have their own dedicated subreddits. Just post your question, or browse previous threads to see if it's been already answered.
Always exercise caution when taking advice from other forum users. Some information may be incorrect, outdated, or reflect the subjective judgment of a user. Also, do not share sensitive data or other material, such as screenshots that reveal your personal or financial information.
IC Markets help desk responds quickly
When testing the overall quality of customer support at IC Markets and its competitors, we paid special attention to response speed. Because let's face it, we're all very busy; so when faced with a ten-minute wait to get connected to an operator, most of us would rather jump on a Reddit forum for answers or figure out a solution to our problems on our own. So this is how we rated brokers:
- In the case of phone and live chat support, we considered waiting times of less than one minute as great, and waiting times exceeding five minutes as poor. We scored anything in between as mid-range; including brokers where responses were sometimes swift but sometimes too slow.
- When it comes to email support, a response within 24 hours is considered great in our book; while we believe it is poor service to keep you waiting for more than two or three days for a reply.
| Broker | Live chat speed | Phone speed |
|---|---|---|
| IC Markets | Mid-range | Great |
| Pepperstone | Poor | Great |
| Vantage | Poor | Great |
So why all the hurry? A little hold music won't hurt anyone, right? Perhaps not, but there may be situations where customer service speed can make a huge difference. Imagine you noticed that someone has broken into your account and started to withdraw your money from it. Or maybe you want to sell a free-falling stock but the order panel won't display properly. In such cases, swift customer support can potentially save you hundreds or thousands of dollars.
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70.64% of retail CFD accounts lose money
Customer support quality at IC Markets is average
Promptly picking up the phone is one thing, but it's just as important to give answers that are clear, comprehensible, sufficiently detailed and relevant to your problem. In addition to response speed, we also rated brokers based on the quality of replies and assistance we received.
- Brokers we rated as 'great' here gave us all the necessary information and assistance.
- Those we rated 'poor' left us scratching our heads and looking for alternative sources of information.
- We gave a 'mid-range' score to brokers where the quality of support was inconsistent or where assistance was often less than useful.
Here's how IC Markets compares to its main competitors when it comes to the helpfulness of live chat, phone and email support.
| Broker | Live chat | Phone |
|---|---|---|
| IC Markets | Mid-range | Mid-range |
| Pepperstone | Great | Great |
| Vantage | Mid-range | Great |
Compare IC Markets with its rivals
Do you fancy using IC Markets's services but not sure you'd get the level of customer service you deserve? Try our broker comparison tool, where you can size up 100+ brokers side by side and filter for many criteria including high-quality customer support.
Want to see how IC Markets fares in other respects such as trading fees, funding options or platform quality? Read our full review of IC Markets for 2024.
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70.64% of retail CFD accounts lose money
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