I’m helping a friend set up their first live account and we’re looking at IC Markets. The goal is to keep things simple and cheap while they learn. Plan is RAW account, tiny size, and track real costs. Rebates look like a small win, but I don’t want them fixating on cents and forgetting risk and execution.
If you learned on IC Markets, which beginner resources actually helped you get started (platform guides, webinars, or third‑party tools)? And when you added rebates, did that change your breakeven, minimum TP, or strategy choices in a useful way?
What should a beginner track in the first month to decide if it’s a good fit?
Start with demo then micro lots and simple logs
Keep it simple in month one. RAW account, MT5, small positions. Link the account for rebates before funding so tracking is clean. Track three items daily: all in cost per trade, average slippage, and mistake count. For learning, platform basics and order types matter more than indicators. Rebates will shift breakeven by a few tenths of a pip, which helps scalps. Do not chase extra trades to earn more cashback. Focus on execution windows and spread behavior by session. Review weekly and decide if conditions fit the strategy.
Set base currency to match your deposit to avoid conversion noise. Use a spreadsheet that calculates spread plus commission minus rebate per lot. Record a minimum of 50 trades before drawing conclusions. If they hold overnight, log swaps separately. A small rebate can make a difference for tight targets, but poor entries or late exits erase it. Use a max two indicators and watch price around session opens. Keep risk fixed while you test.
Their platform guides are fine, but I learned more by exporting trades and reviewing entries.
Rebates nudged my breakeven a bit, which helped small targets.
Do not scale size until you have a month of clean logs.
Use MT5 RAW, tiny lots, and a trade journal. Rebates help a bit on tight targets. Execution timing and spreads matter more.
What helped me:
– Basic MT5 tutorials and a simple risk plan.
– A daily log of spread, commission, and slippage by session.
Rebates lowered my breakeven by a fraction, enough for short targets in London. It did not fix bad entries, so I focused on timing first.
For the first month:
– Trade one pair, same hours, small size.
– Track true cost per trade and slippage.
– Note any platform hiccups during news.
If the numbers stay steady and you feel in control, it is a decent fit.