IC Markets Review 2026

Headquartered in Australia and founded in 2007, IC Markets offers multi-asset trading services and operates under the oversight of regulators including ASIC, CySEC, the FSA, and the SCB. The brokerage uses an ECN/STP execution model and states that orders are routed to external liquidity providers through trading servers located in Equinix data centers.

IC Markets offers Standard accounts without a separate commission and Raw Spread accounts with spreads starting from 0 pips, subject to applicable conditions. Supported platforms include MetaTrader 4, MetaTrader 5, cTrader, and TradingView, with a stated minimum deposit of $200. The broker permits strategies such as scalping, hedging, and automated trading without stated strategy restrictions. Client funds are held in segregated accounts, and the broker states that it does not charge fees for deposits, withdrawals, or account inactivity.

Pros and Cons

Who Regulates IC Markets?

IC Markets serves clients through multiple legal entities overseen by different supervisory authorities. In Australia, operations are regulated by the Australian Securities and Investments Commission (ASIC). European activities fall under the Cyprus Securities and Exchange Commission (CySEC), where the broker holds license numbers 76823 C and HE 356877. International traders are registered under Raw Trading Ltd, authorized by the Financial Services Authority (FSA) of Seychelles, or an entity licensed by the Securities Commission of The Bahamas (SCB). These regulatory jurisdictions dictate local leverage limits and statutory investor protections.

How Your Money Is Protected

Client money is placed in segregated trust accounts with international and European banks, remaining separate from corporate operational funds to protect assets in the event of insolvency. European retail clients registered under CySEC are protected by the Investor Compensation Fund (ICF), offering coverage up to €20,000 per person should the firm fail. Retail accounts also include negative balance protection to prevent deficits beyond deposited funds, supported by an automatic 50% margin stop-out level. Client accounts held under ASIC and offshore authorizations do not carry statutory compensation scheme coverage.

Company Background and Track Record

Established in Sydney, Australia in 2007, IC Markets is a privately held brokerage with its head office located at Suite 2, Level 6, 50 Carrington Street, Sydney NSW 2000. It also operates offices across Australia, Cyprus, Seychelles, and the Bahamas. To support its no-dealing-desk execution model, the brokerage maintains trading infrastructure within the Equinix NY4 and LD5 data center facilities to link retail orders directly to institutional liquidity providers.

Trading Costs

Trading costs at IC Markets depend on whether a trader uses a spread-only or commission-based account. Standard accounts package costs entirely within floating spreads that begin at 0.8 pips, without separate transaction fees. Raw Spread accounts pass through core interbank pricing starting from 0 pips, adding a fixed commission of $3.50 per side ($7.00 round turn) per standard lot on MetaTrader, or $3.00 per side ($6.00 round turn) on cTrader. Equity CFDs carry individual commissions, such as $0.02 per share for US equities and 0.10% of trade value for UK stocks.

Non-Trading Fees

Deposit Fees

IC Markets assesses a $0 internal fee on all incoming deposits across supported payment methods.

Withdrawal Fees

The broker charges a $0 internal processing fee for client withdrawals, although third-party financial institutions may levy separate processing or intermediary charges.

Inactivity Fees

No inactivity fees are assessed on dormant accounts, allowing balances to remain intact without ongoing maintenance deductions.

Overnight Financing

Positions maintained past daily market rollover (24:00 server time, GMT+2 or GMT+3) incur overnight swap charges or credits. Triple swap rates are applied on Wednesdays for forex and spot metals, and on Fridays for cash CFDs. Swap-free Islamic accounts do not incur regular rollover interest, but daily administrative fees apply to select exotic pairs and energy contracts held overnight.

Currency Conversion Charges

Transactions in instruments denominated in a currency different from the account base currency incur a conversion fee reflecting market exchange rates plus a broker markup. Transfers between internal accounts with different base currencies carry a conversion fee ranging from 1% to 1.5%.

Standard Account

The Standard Account uses a straight-through-processing (STP) setup that avoids separate ticket commissions. Instead, all trading fees are built into floating spreads starting at 0.8 pips. Opening an account requires a $200 deposit. Available on MetaTrader 4 and MetaTrader 5 across ten base currencies, this option is designed for traders who want all costs calculated directly inside the bid-ask spread.

Raw Spread Account

The Raw Spread Account connects directly to ECN liquidity, delivering variable spreads starting from 0 pips. Funding starts at $200. Trading expenses consist of raw market spreads plus a commission of $3.50 per side ($7.00 round turn) per standard lot on MetaTrader 4 and MetaTrader 5. Supported across ten base currencies, it is structured for scalpers, algorithmic systems, and active traders needing the narrowest pricing.

cTrader Raw Spread Account

The cTrader Raw Spread Account combines 0-pip raw pricing with the cTrader interface. Requiring an initial deposit of $200, it features a lower commission rate of $3.00 per side ($6.00 round turn) per 100,000 units. This structure is built for traders running automated cTrader strategies, manual scalpers, and those working with the cTrader Open API.

Account Comparison

MetaTrader 4 and MetaTrader 5

Clients can access both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) across desktop, browser, and mobile formats. MT4 includes core charting tools, technical indicators, and automated execution via Expert Advisors (EAs) in MQL4. MT5 builds on those fundamentals with additional order types, multi-asset handling, depth-of-market quotes, and an upgraded MQL5 development workspace.

cTrader

The cTrader platform emphasizes market depth and fast execution against raw pricing. It provides Level II market data, advanced order management, and native automated trading through cTrader Automate using C#, unified across desktop, web, and mobile versions.

TradingView

IC Markets accounts can be linked directly to TradingView, allowing trades to execute from within its charting interface. This setup integrates custom trading alerts, community indicators, and collaborative charting with the broker's underlying order execution.

Mobile Trading

Mobile access is supported via official iOS and Android apps for MetaTrader 4, MetaTrader 5, and cTrader. The broker also provides IC Social, a mobile copy-trading app developed with Pelican Trading that links with MetaTrader accounts to track and replicate other traders.

Execution and Trading Tools

Orders execute through a No Dealing Desk (NDD) framework with zero freeze levels and no minimum order distances. Trade servers are situated in the Equinix NY4 facility in New York and the LD5 facility in London, recording average execution speeds below 40ms. VPS hosting is available via ForexVPS, Beeks FX VPS, CNS, and New York City Servers, with sponsored hosting provided to traders holding a $2,000 balance or turning over 15 standard lots each month.

Algorithmic and Copy Trading

Algorithmic trading is supported through MQL Expert Advisors on MT4/MT5, C# coding on cTrader Automate, cTrader Open API integration, and FIX API connectivity for qualified high-volume clients. For copy trading, users can choose between cTrader Copy, the IC Social mobile app, or external third-party services including ZuluTrade, Myfxbook AutoTrade, and Signal Start.

IC Markets provides leveraged CFD trading across major financial asset classes, with pricing derived from underlying market instruments without physical delivery.

In addition to these markets, IC Markets offers CFD trading on government and corporate bonds with leverage up to 1:200.

Maximum Leverage

Leverage limits at IC Markets depend on the operating entity and asset class. Under Raw Trading Ltd (FSA Seychelles), retail leverage reaches up to 1:1000 on forex and spot metals, 1:200 on indices, bonds, and cryptocurrencies, and 1:20 on equities. Under ASIC in Australia and CySEC in Cyprus, retail leverage is restricted to 1:30 on major currency pairs to meet statutory requirements. Clients who qualify as elective professional traders in those jurisdictions can access leverage up to 1:500. Traders can change leverage settings directly in the client portal, while dynamic margins apply to larger positions during volatile conditions.

Margin Calls and Stop-Out Levels

A margin call is triggered at 100%, alerting traders when account equity equals the required margin. The automated stop-out occurs at 50%. Once account equity drops to or below 50% of margin requirements, the system liquidates open positions systematically, starting with the largest losing position, to curb further losses.

Risk Management Tools

Negative balance protection is applied to retail accounts, preventing equity from dropping below zero during severe market swings. Risk parameters inside the platforms include standard stop-loss, take-profit, and trailing stop orders. Both hedging and scalping are permitted without FIFO constraints. Orders run without dealing desk intervention, meaning execution during news releases remains subject to market slippage and spread widening.

How to Fund Your Account

Account funding requires an initial minimum deposit of $200. Supported deposit methods include credit and debit cards (Visa, Mastercard), e-wallets (PayPal, Skrill, Neteller, Fasapay), bank wire transfers, POLi, Klarna, UnionPay, and cryptocurrencies (Bitcoin, Ethereum, Tether, USD Coin). Client accounts support ten base currencies: AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, and CHF. IC Markets levies no deposit fees, and payments via cards, e-wallets, and crypto are processed instantly, while SEPA deposits require 1 to 2 business days.

How Withdrawals Work

Withdrawals can be processed through Visa, Mastercard, PayPal, Skrill, Neteller, and bank wire transfers. IC Markets charges no internal withdrawal fees, though intermediary banks or payment processors may apply external charges. Withdrawal processing timelines vary by channel: cryptocurrency withdrawals process in approximately 2 hours, bank wire transfers require 2 to 5 business days, and credit/debit card payouts take approximately 3 to 5 business days.

Ways to Contact IC Markets

• Support Hours: 24/7 coverage
• Contact Channels: Live Chat, Email, and Telephone
• Contact Email: [email protected]
• Contact Phone: +248 467 19 76
• Supported Languages: English, Chinese Simplified, Chinese Traditional, Thai, Indonesian, Korean, German, French, Spanish, Vietnamese, Russian, Arabic, Italian, Bulgarian, Croatian, and Japanese

What Customers Say About IC Markets Support

Analysis of customer feedback shows frequent praise for rapid response times and practical resolution of account setup and technical inquiries via live chat. Multiple users highlight positive experiences with individual support representatives handling verification and demo accounts efficiently.

A recurring area of frustration reported by users involves limitations when creating multiple demo accounts, which requires contacting customer support directly for assistance.

"Good service they fixed the problem immediatly"

"Dionysis the customer service agent helped me with the setup of my demo accounts fast and professionally done."

"When creating a demo account When creating a demo account, it is limited to 20 accounts only, after that you have to chat privately, so it's a bit complicated."

Market Research

Market research tools at IC Markets include daily fundamental and technical analysis, Web TV video updates, and an economic calendar tracking global data releases. The analysis focuses primarily on high-volume currency pairs, major stock indices, and key commodities to help traders evaluate ongoing price action.

Trading Education

Educational content is hosted in the Education Overview section, supported by video tutorials, live webinars, an official podcast, an interactive Help Center, and a financial glossary. Topics range from basic platform navigation and order entry to technical indicators and risk management principles across asset types.

Beginners

IC Markets provides educational webinars, video tutorials, and demo accounts, but its $200 initial deposit and multi-platform ECN environment are more complex than platforms designed specifically for newcomers.

Active Traders

For active discretionary traders, the broker combines spreads starting from 0 pips with low commissions ($6.00 to $7.00 round turn), zero deposit or withdrawal fees, and broad asset coverage spanning forex, indices, and commodities.

Scalpers

Scalping strategies are fully supported, benefiting from zero minimum order distances, freeze levels set to zero, and sub-40ms trade execution enabled by collocated servers in London and New York.

Algorithmic Traders

Systematic traders have access to MQL Expert Advisors on MetaTrader, C# algorithms via cTrader Automate, the cTrader Open API, and FIX API connections for high volumes, backed by sponsored VPS hosting in Equinix data centers.

Experienced Traders

Advanced traders will value depth-of-market pricing, leverage up to 1:1000 under international regulation, elective professional status in tier-1 jurisdictions, and charting integration across TradingView, MT5, and cTrader.

We assess brokers using our methodology, which combines our own data, broker documentation, regulatory records, pricing information, platform analysis, account information, and third-party customer feedback where specifically required. We evaluate areas including safety, trading costs, platforms, market range, accounts, leverage, deposits and withdrawals, customer service, research, education, and suitability for different trading styles. Where possible, important factual claims are checked against primary sources and dated because broker conditions can change.

IC Markets offers raw-spread accounts with spreads starting from 0 pips and uses a no-dealing-desk (NDD) execution model. The broker states that its trading infrastructure is hosted in Equinix data centers. It operates under regulators including ASIC, CySEC, the FSA, and the SCB, with client funds held in segregated accounts.

Available platforms include MetaTrader 4, MetaTrader 5, cTrader, and TradingView. The broker permits strategies such as scalping, hedging, and automated trading. A minimum deposit of $200 applies to its accounts, while retail leverage limits vary by jurisdiction, including a maximum of 1:30 for regulated retail clients in Australia and parts of Europe. IC Markets does not provide a proprietary desktop trading terminal.

The suitability of these features varies according to the user's trading requirements, experience level, and jurisdiction. Factors to consider include account costs, leverage restrictions, available platforms, execution arrangements, and the broker's regulatory framework.