IC Markets Broker Review
IC Markets is an Australian Forex broker established in 2007. Since its creation, the company has managed to win the hearts of Forex and CFD traders globally. The broker executes around 500,000 orders daily, and out of the total trades, 60% is made by algorithms.
IC Markets is known as a trustworthy financial partner as top-tier financial institutions highly regulate the company. They are regulated by the Australian Securities and Investment Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Authority of Seychelles (FSA Seychelles), and the Securities Commission Bahamas (SCB).
What’s more, the Forex broker offers raw spreads starting from 0 pips and market-leading trading software such as MetaTrader 4 and 5 as well as cTrader. These reasons make the broker ideal for algorithmic trading.
In today’s review of IC Markets, we are going to discuss all the important aspects traders need to take into consideration when choosing a broker and we’ll guide you through the process of account opening.
| Main features | |
| Regulations | Australia, Bahamas, Cyprus, Seychelles |
| Fees on deposits | $0 |
| Fees on withdrawal | – |
| Inactivity fees | $0 |
| Minimum deposit | $200 |
| Minimum account activation | $200 |
| Number of available assets | 2,000+ |
| Leverage up to | 1:500. For clients from UK, AU and EU maximum leverage is 30:1 |
| Available trading markets | Bonds, CFDs on Stocks, Commodities, Cryptocurrencies, Forex, Futures, Indices |
| Account currencies | AUD, USD, EUR, GBP, CHF, NZD, JPY, SGD, CAD, HKD |
| Demo account | Yes |
| Live account types | cTrader, Raw Spread, Standard |
| Islamic account | Yes |
| Security | |
| Negative balance protection | Yes |
| Part of compensation fund | Yes |
| Keeps funds on segregated bank account | Yes |
| Assets | |
| Forex | 61 |
| Shares | 0 |
| Cryptocurrencies | 18 |
| Indices | 23 |
| Commodities | 22 |
| Total | 2,000+ |
| Fees & spread | |
| Forex | From 0 pips. From 0.6 on Standard account |
| Shares | N/A |
| Cryptocurrencies | From 0 pips5.84 Avg spread on BTC/USD |
| Indices | From 0. 0.5 Avg spread on US500 |
| Commodities | From 0 |
| Software | |
| Platforms | MetaTrader 4, MetaTrader 5, cTrader |
| Mobile trading support | Yes |
| Mac device support | Yes |
| Commodities | Yes |
| Payment systems | |
| Payment methods | Bank Transfer, Broker to Broker, Credit/Debit Card, Fasapay, Neteller, POLi, PayPal, Skrill, UnionPay |
| Minimum deposit | Bank Transfer, Broker to Broker, Credit/Debit Card, Fasapay, Neteller, POLi, PayPal, Skrill, UnionPay |
| Minimum withdrawal | Bank Transfer, Broker to Broker, Credit/Debit Card, Fasapay, Neteller, POLi, PayPal, Skrill, UnionPay Credit/Debit card options are free of charge and processed in 3-5 working days. |
| Withdrawal processing time | Instant. Broker to Broker and Bank Wire take 2-5 working days. Bpay takes up to 2 working days |
Safety & Security of IC Markets
IC Markets places strong emphasis on safety, transparency, and regulatory compliance to provide traders with a secure trading environment. Established in 2007 in Sydney, Australia, the broker operates under multiple financial regulators and follows strict financial standards designed to protect client funds and ensure fair trading practices.
Regulation and Licensing
IC Markets is regulated by several reputable financial authorities worldwide, including:
Australian Securities and Investments Commission (ASIC)
Cyprus Securities and Exchange Commission (CySEC)
Financial Services Authority (FSA) – Seychelles
These regulators require brokers to follow strict rules regarding capital adequacy, operational transparency, and client fund protection, which helps maintain a trustworthy trading environment.
Segregation of Client Funds
To safeguard traders’ deposits, IC Markets keeps client funds in segregated accounts with top-tier banking institutions. This means client money is stored separately from the company’s operational funds and cannot be used for business expenses.
Negative Balance Protection
IC Markets provides negative balance protection for retail traders under certain regulatory frameworks. This feature ensures that traders cannot lose more money than the amount deposited in their trading accounts, even during extreme market volatility.
Available Assets on IC Markets
IC Markets offers traders access to a broad range of financial instruments, making it a multi-asset broker suitable for diversified trading strategies. Through its platforms, traders can access 2,000+ tradable instruments across several global markets including forex, indices, commodities, stocks, cryptocurrencies, bonds, and futures.
Forex (Currency Pairs)
Forex trading is the core offering at IC Markets. The broker provides access to around 61 currency pairs, including major, minor, and exotic pairs such as EUR/USD, GBP/USD, USD/JPY, and AUD/USD. The forex market operates 24 hours a day during weekdays, providing continuous trading opportunities.
Global Indices
IC Markets allows traders to speculate on major stock market indices from around the world. The broker offers about 25 indices, including popular benchmarks like the S&P 500, NASDAQ, Dow Jones, FTSE 100, and DAX.
Commodities
The platform also supports trading in over 20 commodity CFDs, including energy products, precious metals, and agricultural goods. Examples include Gold, Silver, Brent Crude Oil, Natural Gas, Coffee, and Wheat.
Stocks (Share CFDs)
IC Markets provides access to 2,100+ stock CFDs from major global exchanges such as the NYSE, NASDAQ, and ASX. Traders can speculate on the price movements of well-known companies like Apple, Microsoft, Nvidia, and Meta without owning the underlying shares.
Cryptocurrencies
The broker also offers cryptocurrency CFD trading, allowing traders to speculate on digital assets such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). Crypto markets on IC Markets can be traded with leverage depending on the instrument.
Bonds and Futures
IC Markets additionally offers bond CFDs and futures instruments, giving traders exposure to global government bonds and other derivative markets. These instruments help diversify trading strategies beyond traditional forex and equities
Account Types
IC Markets offers several live trading account types designed to suit different trading styles, from beginners to professional traders. These accounts mainly differ in spreads, commissions, and trading platforms, while all provide access to the same markets and trading tools.
Most IC Markets accounts require a minimum deposit of around $200, which gives traders full access to the broker’s trading platforms and instruments.
Standard Account
The Standard Account is designed for beginner traders who prefer a simple spread-only pricing model without paying additional commissions.
Key features:
No commission on trades
Spreads starting from around 0.8–1.0 pips
Supports MetaTrader 4 and MetaTrader 5
Minimum deposit around $200
Suitable for beginners and casual traders
This account is ideal for traders who want straightforward pricing and easy cost calculation.
Raw Spread Account (MT4/MT5)
The Raw Spread Account offers institutional-grade pricing with extremely tight spreads and a small commission per trade. It is one of the most popular accounts among active traders.
Key features:
Spreads starting from 0.0 pips
Commission around $3.50 per lot per side ($7 per round turn)
Available on MT4 and MT5 platforms
Fast execution with deep liquidity
Best for scalpers, day traders, and algorithmic traders
This account provides very low spreads and professional trading conditions.
cTrader Raw Spread Account
The cTrader Account is similar to the Raw Spread account but runs on the cTrader trading platform, which is popular for its advanced order execution and professional trading tools.
Key features:
Raw spreads from 0.0 pips
Commission around $3 per lot per side
Advanced cTrader trading platform
Fast order execution and deep liquidity
Ideal for professional traders and high-frequency strategies
The cTrader account is particularly favored by traders who want ECN-style trading and advanced order management tools.
Demo Account
IC Markets also provides a free demo account that allows traders to practice trading using virtual funds.
Key features:
Simulated trading environment
Access to MT4, MT5, and cTrader
Ideal for beginners learning how to trade
Helps traders test strategies without financial risk
IC Markets Fees & Commissions
IC Markets is known for its competitive and transparent pricing structure, offering both spread-only accounts and raw-spread accounts with commissions. Trading costs mainly depend on the account type, trading instrument, and platform used. Overall, IC Markets is considered a low-cost broker compared with many competitors in the forex and CFD industry.
Spreads
Spreads are the main trading cost for many traders at IC Markets. The spread represents the difference between the buy (ask) and sell (bid) price of a trading instrument.
Standard Account: Spreads typically start from around 0.8 pips on major currency pairs.
Raw Spread Account: Spreads start from 0.0 pips, with an average around 0.1 pips on EUR/USD during normal market conditions.
Raw accounts generally offer tighter spreads, which makes them popular among scalpers, day traders, and algorithmic traders.
Commission Fees
Commission charges depend on the trading platform and account type.
MT4 / MT5 Raw Spread Account:
About $3.50 per lot per side (approximately $7 per round-turn trade).
cTrader Raw Spread Account:
Around $3 per lot per side (about $6 per round-turn trade).
Standard Account:
No commission, but spreads are slightly wider.
Swap (Overnight) Fees
If a trader holds a position overnight, swap or rollover fees may apply. These charges depend on:
The trading instrument
The direction of the trade (buy or sell)
Interest rate differences between currencies
Some instruments may also offer positive swaps, meaning traders could receive a small credit instead of paying a fee.
Deposit and Withdrawal Fees
IC Markets generally does not charge internal fees for deposits or withdrawals, making it convenient for traders to fund and withdraw from their accounts. However, payment providers or banks may charge processing or currency conversion fees.
Inactivity Fees
Unlike many brokers, IC Markets does not charge inactivity fees, even if an account remains unused for a long period.
IC Markets Trading Platforms
IC Markets provides a range of professional trading platforms designed to meet the needs of both beginner and advanced traders. The broker supports industry-leading platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, which offer advanced charting tools, fast execution, and support for automated trading strategies.
These platforms allow traders to access global financial markets including forex, commodities, indices, stocks, and cryptocurrencies, with institutional-grade liquidity and fast order execution.
MetaTrader 4 (MT4)
MetaTrader 4 (MT4) is one of the most widely used trading platforms in the forex industry. It is known for its reliability, simple interface, and powerful technical analysis tools.
Key features include:
50+ built-in technical indicators and charting tools
Automated trading through Expert Advisors (EAs)
One-click trading and multiple order types
Fast execution with low-latency servers
IC Markets hosts MT4 servers in the Equinix NY4 data center, which helps deliver ultra-fast trade execution and low latency for active traders and scalpers.
MetaTrader 5 (MT5)
MetaTrader 5 (MT5) is the upgraded version of MT4 and provides more advanced analytical tools and multi-asset trading capabilities.
Key features include:
More timeframes and technical indicators
Depth of Market (DOM) and advanced order management
Built-in economic calendar
Enhanced strategy tester for algorithmic trading
MT5 allows traders to trade multiple asset classes such as forex, stocks, indices, bonds, and commodities from a single platform.
cTrader Platform
cTrader is another advanced trading platform offered by IC Markets. It is particularly popular among professional traders because of its advanced order execution and ECN-style trading environment.
Key features include:
Level II pricing and Depth of Market (DOM)
Advanced order types and trade management tools
Built-in algorithmic trading through cTrader Algo
Customizable charting and indicators
The platform also supports copy trading and algorithmic strategies, making it suitable for experienced traders and high-frequency trading strategies.
WebTrader and Mobile Trading
IC Markets also provides WebTrader and mobile trading apps so traders can access their accounts from anywhere.
WebTrader: Trade directly from any web browser without installing software.
Mobile Apps: MT4, MT5, and cTrader apps are available for Android and iOS devices, allowing traders to monitor markets and manage positions on the go.
MetaTrader 5 is a newer version of MT4 and shares a lot of commonalities. What makes MT5 different is that the software enables traders to access different asset markets such as Forex, commodities, indices, crypto, and stock CFDs. Whereas MT4 is mainly designed for trading Forex. cTrader was developed by Spotware systems in 2011. The platform is more modern looking than the MetaTrader platforms and offers level 2 market depth as well as advanced charting features. On the downside, cTrader does not offer stock CFDs. cTrader uses the cAlgo programming language to develop cBots for automation.
Education and Research Tools
Extensive educational material is extremely valuable for novice traders. Webinars, seminars, trader gatherings, and educational events help traders socialize and increase their knowledge. IC Markets offers an economic calendar and video tutorials explaining how to use their platforms. Overall the educational material covers only the basics.
IC Markets Customer Support
IC Markets provides professional and responsive customer support to assist traders with account issues, trading platform guidance, deposits and withdrawals, and general trading inquiries. The broker aims to deliver fast and reliable assistance so traders can resolve problems quickly and continue trading without interruptions.
Support Availability
IC Markets offers 24/7 customer support, meaning traders can contact the support team at any time during the week. Assistance is available through several communication channels to ensure traders receive help whenever needed.
Contact Methods
Traders can reach IC Markets customer support through multiple options:
Live Chat: Instant support directly through the website.
Email Support: Traders can contact the support team at [email protected].
Phone Support: International phone support is available at +248 467 19 76.
Help Center: A detailed help center and FAQ section where traders can find answers to common questions and platform guides.
Multilingual Support
IC Markets provides multilingual assistance, allowing traders from different countries to communicate with support representatives in several languages. This helps make the platform accessible to traders worldwide.
Response Time
Customer support response times are generally quick:
Live Chat: Immediate assistance for urgent issues
Email: Replies can arrive within a short period depending on the query
Phone: Direct communication with a support representative for complex issues
Additional Support Resources
IC Markets also provides an online help center, tutorials, and trading guides that help traders resolve common issues without contacting support directly.
IC Markets Pros and Cons
Pros
Ultra-Low Spreads and Competitive Pricing – IC Markets offers some of the lowest spreads in the industry, with raw spreads starting from 0.0 pips on major pairs like EUR/USD.
Fast Order Execution – The broker provides institutional-grade liquidity and fast execution speeds, making it popular among scalpers and algorithmic traders.
Multiple Professional Trading Platforms – Traders can choose between MetaTrader 4, MetaTrader 5, and cTrader, which support advanced charting and automated trading strategies.
Low Non-Trading Fees – IC Markets generally does not charge inactivity, deposit, or withdrawal fees, which helps reduce overall trading costs.
Wide Range of Trading Instruments – The broker offers access to thousands of tradable assets including forex, commodities, indices, stocks, and cryptocurrencies.
Strong Reputation and Regulation – IC Markets operates under several financial regulators and has built a strong reputation since its launch in 2007.
Cons
Higher Minimum Deposit Than Some Competitors – The typical minimum deposit of around $200 may be higher compared to brokers that allow micro deposits.
Limited Real Asset Trading – IC Markets mainly focuses on forex and CFD trading, meaning investors cannot buy real stocks, ETFs, or funds.
Learning Curve for Beginners – Advanced platforms such as cTrader or MT5 may be more complex for traders who are completely new to online trading.
Higher Overnight Financing Costs – Some reviews note that CFD financing or swap rates can be relatively high for positions held long term.
IC Markets Conclusion
Overall, IC Markets is widely regarded as a reliable and competitive forex and CFD broker that caters to both retail and professional traders. Founded in 2007, the broker has built a strong reputation in the trading industry by offering institutional-grade trading conditions, ultra-low spreads, and fast order execution through platforms such as MetaTrader 4, MetaTrader 5, and cTrader.
One of the broker’s key strengths is its regulatory oversight and security measures. IC Markets operates under several respected financial authorities, including ASIC, CySEC, and the FSA, which helps ensure transparency and client fund protection.
The broker is also known for its low trading costs and deep liquidity, making it a popular choice among scalpers, day traders, and algorithmic traders who require tight spreads and fast execution speeds. Raw spread accounts can offer spreads close to 0.0 pips, combined with competitive commission structures.
