Are Ideal Security's products considered ULC approved alarm systems?

Short answer: No.

Ideal Security's monitoring systems are not ULC approved alarm systems

Ideal Security's monitoring products are referred to as MIY ("Monitor-It-Yourself"), and do not meet ULC alarm system standards. If applicable regulations or your insurance company require you to have a ULC-approved alarm system, you should not use Ideal Security's monitoring products except as an add-on for additional notifications if you like. 

Who is the ULC?

ULC  (Underwriters Laboratories of Canada) publishes guidelines, sets standards and provides certification for a wide range of products and services. Their standards and certifications include guidelines for alarm system installation, alarm monitoring services, and alarm system features.