IC Markets Review

IC Markets

IC Markets


  • Leverage: 1:30 | 1:500

  • Regulation: ASIC, CySEC, FSA

  • Min. Deposit: 200 US$

  • HQ: Australia

  • Platforms: cTrader, MT4, MT5

  • Found in: 2007

IC Markets Licenses

  • International Capital Markets Pty Ltd - authorized by ASIC (Australia) registration no. ACN 123 289 109. AFSL 335692
  • IC Markets (EU) Ltd - authorized by CySEC (Cyprus) registration No 362/18
  • Raw Trading Ltd - authorized by FSA (Seychelles) registration no 8419879-2

Top 3 Forex Brokers

  1. What is IC Markets?
  2. ICMarkets Pros and Cons
  3. Is IC Markets safe or a scam?
  4. Leverage
  5. Accounts
  6. Market Instruments
  7. Fees
  8. Spreads
  9. Deposits and Withdrawals
  10. Trading Platform
  11. Customer Support
  12. Education
  13. Conclusion

Our Review Method

  • 55Brokers Financial Experts with 10+ years of experience in Forex Trading check trading offering, with fees, platforms, trading licenses, contact customer service and placed traders to see conditions and give expert opinion about IC Markets

What is IC Markets?

IC Markets is a large Forex Trading Company incorporated in Sydney, Australia in 2007 by a team of financial professionals who aimed to bridge the gap between retail and institutional clients offering trading solutions. IC Markets provides an ECN trading environment with spreads from 0.0 pips from the liquidity suppliers from over 50 different banks and dark pool liquidity sources across 60 forex pairs.

Where is IC Markets based?

Recently, as we see with our data and research the broker grows to one of the leading trading providers in Australia with its headquarter and also expand beyond as serves international and European entity, also establish a Chinese Support centre and proposes truly competitive trading conditions.

Is IC Markets a CFD broker?

Even though, IC Markets is CFD broker too, so the execution brings speeds and low latency through fiber optic connects traders’ orders to the market by servers in the NY4 & LD5 IBX Equinix Data Center New York and London. Yet, instrument and execution might be different based on the instrument you trade.

IC Markets Pros and Cons

IC Markets is a broker with good reputation, a great selection between platform including MT4, MT5 and cTrader platforms, also with good quality education provided for free and 24/7 customer support. There is a selection between spread basis and raw spread accounts also various instruments are available, which makes it a favorable choice for various traders with our opinion.

On the flip, the proposal vary according to the entity and is larger via offshore entity, also we found some spreads higher than average for other instruments.

Fully regulated broker Trading proposal and conditions vary according to regulation
Advanced range of trading products, CFD tradingOffshore entity for international clients
Raw spread and standard accounts
MT4, MT5 and cTrader platforms
Good fees for Forex
Education on Free basis
24/7 Support

IC Markets - official website

IC Markets Review Summary in 10 Points
🏢 HeadquartersAustralia
🗺️ RegulationASIC, CySEC, FSA
🖥 PlatformscTrader, MT4, MT5
📉 InstrumentsFX, Equities, Commodities, Futures CFDS, Stocks and Bonds, Crypto trade
🎮 Demo AccountAvailable
💳 Minimum deposit200 US$
💰 EUR/USD Spread1 pip
💰 Base currencies10 currencies offered
📚 EducationIncluded on a free basis
☎ Customer Support24/7

Overall IC Markets Ranking

With our Expert finds and review we consider proposal quiate good one, with quite favorable trading conditions and low fees for Forex trading. IC Markets is a choice for high-volume traders, scalpers, EA traders and robots that can enjoy no dealing desk with no manipulation at the prices.

  • IC Markets Overall Ranking is 8.5 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
RankingIC MarketsBlackBull MarketsPepperstone
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐

IC Markets Alternative Brokers

Yes, we found IC Markets instrument offering mainly offering Forex and CFDs, also in its international entity trading conditions are different. Even though, spreads, platforms and education are good in IC Markets it good to consider other brokers too, see our selection of Alternative Brokers below:

  • eToro – Good for CopyTrading and Cryptocurrency Trading
  • Dukascopy – Excellent for Shares, Futures Trading
  • BlackBull Markets – Good for High Leverage Trading

Is IC Markets safe or a scam?

IC Markets is known as a safe broker, as the licensed and regulated trading companies are constantly overseen and audited by an external reputable authority.

See our conclusion on IC Markets Reliability:

  • Our Ranked IC Markets Trust Score is 8 out 0f 10 for good service along the years it operates and reliable license from ASIC and European license making proposal available for European clients. Yet, the only gap is International trading available via the offshore entity so we advise to check conditions well
IC Markets Strong PointsIC Markets Weak Points
CySEC and ASIC regulated international brokerInternational proposal runs through offshore entity
Global coverage and years of operation
Professional Indemnity Insurance

Is IC Markets legal?

In the case of IC Markets, the broker is incorporated in Australia it does its service regarded by the Australian Securities and Investments Commission (ASIC) license (read more why trade with ASIC Brokers). Also, IC Markets runs a regulated entity in Cyprus, therefore officially and legally operating trading service for European clients.

  • With a license and regulation from ASIC, which one of the strictest and most demanding financial regulators, IC Market traders can feel completely confident. The money protection provided through multiple regulated ways and includes the client money segregation while accounts accessed by the client only and used for the purpose of facilitating their own trading.
  • In addition, IC Markets is a member of the Financial Ombudsman Service (FOS), an approved Australian external dispute resolution scheme that fairly and independently resolves disputes between consumers and member financial services providers.

IC Markets Regulation


IC Markets offers leverage based on the entity you trade. While initially leverage opens the path to the forex market for Retail traders with a quite low or small initial deposit to cover margins. The use of leverage can magnify gains but you should always remember that losses can also exceed your initial deposit.

  • Maximum of 1:30 available for Australian clients
  • 1:30 allowed for European traders
  • 1:500 for an international proposal

Leverage is known as a loan given by the broker to the trader to enable trading with a bigger capital and increase potential gains. However, we would recommend to any trader use tool smartly and read carefully how to set up correct leverage to a particular instrument or trading strategy, as also leverage defined by the IC Markets entity and particular jurisdiction regulations. 

Account types

There are three main account types offered by IC Markets as we found, all featuring the same compatibility and power provided by the company, yet are designed to meet the expectations and needs of different trading styles. Two first account offering raw spread condition and commission charge per trade also offering either MT4 platform of cTrader for your selection.See our find of good and negative points forr IC Markets accounts.

Fast Account Opening, fully DigitalNone
3 Account types
Good options for a various trading style
Spread only or raw spread accounts
Micro Account and Islamic Account offered
10 Account Base Currencies

IC Markets demo account

Risk-free demo account is available on both MT4 and cTrader that allows the practice of the trading strategy, which is great to start with the broker. Also, the accounts are available in multiple currencies, up to 10, are fully segregated from the company’s funds, and supported by a multi-lingual customer team. Additionally, traders that follow Sharia rules can sign for Swap free or Islamic account as an option at IC Markets too.

IC Markets accounts

Trading Instruments

The market’s offer includes a range that suits demands of any trader and include the major instruments to trade, along with new additions alike Cryptocurrencies. The asset classes consist of FX, Equities, Commodities, Futures CFDS, Stocks, and Bonds. The IC Markets Crypto trade offers trading pairs with Bitcoin, Ethereum, Dash, Litecoin, Bitcoin Cash, and Ripple, and allows go long or short with a leverage 1:5 margin of 20% and a minimum lot of 0.01.

  • IC Markets Instrument Score is 7 out 0f 10 for good trading instrument proposal mainly for Forex and CFDs, also the range is different based on entity

IC Markets instruments


IC Markets offers different pricing defining trading fees on applicable accounts, as the fees are slightly diverse based on the account type and platform you choose. Also, beware that various IC Markets entities in different jurisdictions may apply its own trading conditions, so be sure to check it out as well.

  • IC Markets Fees are ranked low with overall rating 8 out of 10 based on our testing and compared to over 500 other brokers. Overal fees are at good level, some deposits and withdrawals are free of charge but it worth to check conditions fully
FeesIC Markets FeesAvaTrade FeeseToro Fees
Deposit FeeNoNoNo
Withdrawal FeeNoNoNo
Inactivity FeeNoYesYes
Fee rankingLowAverageHigh

IC Markets Spreads

Here are some of our finds on Spreads and trading costs: The Standard Account enabled through MetaTrader4 with CNS VPS Cross-Connect and spread only basis from 1.0 pips. While the True ECN account or Raw Account allows micro lot trading from 0.01 size, deep institutional grade liquidity, ECN spreads from 0 pips and a commission of 3.50$ per 100k traded available at MT4 also.

cTrader ECN account offering approximately the same feature as MT4, but with the difference of the platform that is used by mainly professional traders of a bigger size. The applicable spread also starts at 0.0 pips and a commission of 3.00$ per 100k traded that serves execution through Equinix LD5.

  • IC Makets Spreads are ranked low with overall rating 8 out of 10 based on our testing comparison to other brokers. We rank it very good proposal for Currency trading considering spreads are among lowest in industry. Yet, fees might be different based on entity offering and for some instruments are slightly higer than average. See our findings of fees and pricing in the table below.

Trading Fees of IC Markets
Asset/ PairIC Markets SpreadAvaTrade SpreadeToro Spread
EUR USD Spread1 pip1.3 pip3 pip
Crude Oil WTI Spread5 pip3 pip5 pip
Gold Spread1 point4045

Overnight Fee

IC Markets overnight fee or a swap rate determined by the overnight interest rate differential between the two currencies involved in the pair and whether the position is a buy ‘long’ or sell ‘short’. The fee originally varies from one currency to another, but you should always bear in mind its existence that may bring you either a negative or a plus to your account.

Here is a snapshot of IC Markets Spreads

IC Markets spread

Deposits and Withdrawals

IC Markets offers 10 flexible funding options in 10 major base currencies AUD, GBP, JPY, HKD, SGD, NZD, CHF, CAD, EUR, USD. Which is great, since you may choose the suitable one for you and avoid extra conversion fees.

  • IC Markets Funding Methods we ranked Good with overall rating 8 out of 10. The Miniimum deposit is among average, yet Fees are small also allowing to benefit from account based currencies and avoid conversions, which is good overall

Here are some good and negative points for IC Makrtes funding methods found:

IC markets AdvantageIC markets Disadvantage
No deposit feesConditions may vary according to regulations
Withdrawals free of charge
Wide range of payment methods supported by an international entity
Numerous base currencies

Deposit Options

From the client secure area, there is an ability to deposit or withdraw funds throughout

  • Cards,
  • PayPal,
  • Bank Transfer including local ones,
  • Neteller, Skrill, WebMoney, Qiwi,
  • China UnionPay, FasaPay and more.

IC Markets minimum deposit

Minimum deposit for IC Markets is 200$ for Standard Account on MetaTrader4, along with other two account types available at IC Markets. See our snapshot on fees below

IC Markets minimum deposit vs other brokers

IC Markets Most Other Brokers
Minimum Deposit $200 $500


IC Markets withdrawals allowing to use popular Bank Transfer, WebMoney, Cards and e-wallets, IC markets does not charge additional fees for deposits and apply 0$ fee for withdrawals. Yet, for International Bank Wire withdrawals, IC Markets pass the transfer fees charged by the company banking institution, which is approximately AUD20 that is deducted from the amount of your withdrawal.

How long does it take to withdraw money from IC Markets?

Various payment methods will process withdraw money in its defined time, while IC Markets accounting team confirms transactions quite quickly within 1-2 business days.

IC Markets deposit

Trading Platforms

Apart from the sophisticated technical optimization of the execution provided by leading technologies, we see IC Markets Platform offers advanced software proposals inclduing – MetaTrader 4 and cTrader are two of the best trading platforms available in the market today, hence IC Markets have both options in their direct access to provided ECN trading environment.

Nevertheless, you can still trade through MetaTrader5 an updated and improved version that is packed with brand new features if you prefer so.

  • IC Markets Platform are ranked Excellent with overall rating 9 out of 10 compared to over 500 other brokers. We mark it for good offering of market leaders MT4, MT5, also included powerful cTrader. Besides we mark good research and excellent tools provided for all platforms
Trading Platform Comparison to Other Brokers:
PlatformsIC Markets PlatformsBlackBull Markets PlatformsPlus500 Platforms
Own PlatformNoNoYes

Desktop Platform

Each of the platforms is available in different versions suitable for use either via Web Platform or directly from your browser or you can install Desktop version and enjoy full customization MetaTrader or cTrader offers. See platform look below:

  • Overall, there are good comprehensive tools, where IC Markets brings trading to the next level. There are a lot of additions and extensions to the platforms such as a one-click trade module, market depth, spread monitor, trade risk calculator, and advanced order types previously not available on MetaTrader 4.

IC Markets platform

Mobile Platform

Mobile Apps are also available and are very useful for modern traders stay updated with market conditions on the go. Likewise, MT4, MT5 and cTrader are available via Android or iOS devices, also permitting account management and control over the positions.

Auto Trading

In addition, Auto trading compatible with all broker’s platforms, EAs at MT4 or MT5 myfxbook at cTrader platform and as an addition, ZuluTrade is available too. ZuluTrade is one of the best social trading platforms that allow to choose among thousands of talented traders and to follow their trading signals for free.

  • Moreover, if you are willing to go into the partnership with the broker there is an offer by MAM and PAMM multi-account management systems that are flexible and easy to use tools. FIX API delivers a great opportunity for high-volume traders, while VPS (Virtual Private Server) allows running a variety of automated trading strategies with the possibility to get free VPS use (if a required minimum volume of 15 round turn (FX) lots per calendar month is reached).

Customer Support

IC Markets strives to offer not only the best technological solutions but understanding the necessity of good quality customer service and support. The broker support is available 24/7 and runs customer offices in various regions, so that all global is covered with IC Markets available to answer or assist teams.

  • Customer Support in IC Makrets we rank Good with overall rating 9 out of 10 based on our testing. We got fast and knowledgeable respond,  also availability of multilanguage and 24/7 is definitely great.

See our find and Ranking on Customer Service Quality:

Quality customer support with live chatNone
Multilingual support with free Lines
24/7 Customer Service

IC Markets Education

Since, IC Markets team has a significant amount of experience within the forex industry, hence understands what traders want and need exactly. Educational materials provided on a free basis and allows to obtain a clear vision of the topic through regular technical analysis reports, video tutorials, informational tools, webinars and more.

Research tools are available as well, including inbuilt numerous analysis tools inside platforms, as well as offering IC Markets designed Market Analysis Blog, Economic Calendar and trading ideas available through platforms, allowing beginning of professionnal traders to get bgood tools.

  • IC Education ranked with overall rating 8 out of 10 based on our research. We found good quality Education Materials and advanced research tools, yet some Broker might ruun education more professionally alike Trading 212

IC Markets support

IC Markets Review Conclusion

In conclusion, the IC Markets offers quite advanced trading offering, while you are able to choose from a wide range to tailor solutions to almost any trading parameter, which instrument to trade, a platform to use, account to open, to use auto trading or social trading, or even become a partner.

Indeed we mark, IC Markets technical optimization is among the strongest in terms of execution, platform optimization, the range of tools and provided support.

Based on Our findings and Financial Expert Opinion IC Markets is Good for:

  • Beginning Traders
  • Professional Traders
  • Traders who prefer MT4 or MT5 platform or cTrader
  • EAs running
  • Algorithmic or API Traders
  • Currency Trading
  • Suitable for a Variety of Trading Strategies
Juan A Luna From Spain | | Wednesday, September 27, 2023

It is a Broker that works well for intraday operations, but for longer-term operations, the commissions are too high. Combined with MetaTrader 4, trading is done quickly. Even "Market" purchases/sales have sufficient liquidity and are executed without slippage effects. However, keep your money away from this Broker. If you have an account, close it as soon as possible. If you haven't opened it yet, forget about this Broker. The problem with this Broker is withdrawals. If you have deposited an amount X with your credit card, you have to withdraw that same amount X to the same card. If you don't do it before the card expires, they will retain that money in your account for as long as they want with the excuse that it cannot be returned to an expired card. If you add a new card to withdraw the funds deposited with the first one, it will not work either because the balance pending withdrawal from the old expired card will not be transferred to the new one.

Alina From United Kingdom | | Thursday, July 6, 2023

Balance disappearence Deducted my profit after 3 month of trading, more than 40 000. As they said error occurred and implemented swap adjustment after 3 month, when the different swap was applied at least 3 times. Moreover, previously they applied negative swaps with the same volume and when I asked CS why? The answer was, you need to check product specs before placing any order. So this company finds the way not to pay profit. More interesting, ic markets returned funds to some traders who had the deduction due to their swap adjustment, but they asked them to sign a nondisclosure letter. As the result they cannot tell you anything. Where is you philosophy to treat clients equally and fairly???

Andrei From United Kingdom | | Thursday, July 6, 2023

client’s trading manipulation and take all your funds I have been trading with this broker many years but now they scam people. Over the last couple months I traded US index at the bottom of its market price, sell position and IC markets added swaps in the volume they add the last 2 years, expecting me to lose but its market and you never know So I profited and after one month they deducted all my profit saying it was an error and we deduct your funds. I asked their customer service and compliance department, what is going on? 1. They are not client oriented. 2. Rude communication; 3. Unprofessional behaviour My advice for traders, avoid their offshore regulation as you hardly get your money back

No news available.

36 responses to “IC Markets”

  1. got restricted after moving them to seychelles. they have changed the trading rules and do not allow the money to be withdrawn to a European bank account. They want it to be open for withdrawal outside of European and American directives and rules. I recently found out that since 5 years, an American citizen cannot register in an IcMarkets.

  2. “IC Markets is an online forex and CFD broker based in Sydney, Australia. The company offers traders access to a wide range of financial markets, including foreign exchange (FX), indices, commodities and cryptocurrencies. IC Markets is probably the best Forex broker. TradeEU also refers to a good broker because It allows companies to connect with each other, negotiate prices and arrange international delivery. The platform also provides detailed information about local regulations and taxes for importing and exporting within the EU.

  3. AVOID this Broker

    AVOID – Unfortunately I see some false reviews here. From experience if you are succeeding they will definately use some dirty tactics to blow your account. Like the excuse of AML to freeze your withdrawals, prevent deposits even though your bank is OK, excessive spread manipulation, trading against you, not putting your trades through to market and much more. You can also check with the UK FCA they are cancelling being regulated by them. I don’t trust them. Alot of unregulated behaviour. Seychelles Regulator is just a dodgy shopkeeper. Hopefully this review will save your hard earned money.

    • Yes, I agree 100% with you, they try to appear OK but SCAM client whenever they can.
      They give thin excuses or just ignore. No Money back.

  4. They don’t accept traders anymore because they are a total scam! I had to hire a solution professional to get my funds back from them. I’ve gotten so many complaints from victims all over concerning this broker.

    • you are right. Less than a month ago I started trading and a week ago I am trying to withdraw profits, but unfortunately all my attempts failed and I do not know what to do to withdraw my money

  5. I placed a withdrawal request from Ic market for over two weeks now which they aoproved and deducted from my trading account and up till now they have not accounted for my missing money.The worst of it all is that they no longer respond to my mails.So,becareful with IC market.

  6. Broker declares very attractive spreads, but on a real account there is a huge slippage for all pairs, which can exceed the spread by 3-5 times.
    EA sees minimum profit on order, gives command to broker to close order with this profit, and broker executes trade at a loss, in those support they say sorry there was no liquidity to close your order with a profit, that’s where the fraud of this broker lies.

  7. I started using IC Markets this year October, so far I haven’t encountered any problems regarding deposits and withdrawals. I made a few losses as a beginner, learned from my mistakes and I now see the light

  8. Ic market i suspect scam broker now..

    When i using other broker i keep winning..
    When i use ic market all my entry will negative..

    Market mover…

    All your setup will fail.. trust me..

  9. yes they scam me of 400 dollars I started with 50 dollars it got to 400 dollars then as I was watching the pairs from 400 it went to 0 wipes out the whole lot

  10. Hi Everyone,

    I am an investment banker for over 24 years UK and internationally and I have also worked for top tier banks within there legal space in regards to regulations.

    I have personally traded with IC Markets for over 18 months and have had no such issues as I can categorically tell you that I have withdrawn moneys from my trading account between £1-100k with no hesitation by IC Market AU And IC markets EU / Raw trading. The reason they have only setup a raw trading since Feb 2020 is the fact that IC AU regulation had stated can only be used for AU citizens, hence IC EU / Seychelles were setup to facilitate EU citizens. They are all regulated heavily which means they run secreted account which means client money can never ever be touched the the firm and if they ever folded IC would still have the client money for you to recover. It may not be common sense for most out there and I can see why some are posting negative comments about IC but I can only read through the lines and this people seem to have only posted negative comments due to them losing in the markets. They serve me well and they follow AML regulations diligently as I closed one of my bank accounts down that I had deposited funds to IC markets from and IC requested for me to provide them proof it has closed down ao they would then allow me to withdraw to my new bank account. I did that and they complied and where very swift in doing so. Not sure what people are panicking about they have been around for years and because they setup new entities in other jurisdictions since Feb 2020 makes them not genuine lol. It clearly shows how uneducated people think and struggle in life. Wish you all the best everyone.

  11. Thanks guys I want to open an account but with all this testimony I can thanks for sharing your own experience the good and the bad if people in the world that is open they would make this place a better place people that were of the scammers and legit One Love

  12. i warn everybody to carefully read the account terms of ic markets.if you are not an australian resident,your account will be held with a company called Raw Trading Ltd.this company was only registered february 2020.check it out on the internet and decide for yourself whether you want to join ic markets or not.

  13. Hi, I’m in Mexico and I’d really appreciate if you help me with this questions:
    1) It is possible to open an account and trade from here?
    2) Do you have a Demo account?
    3) In case the first answer was affirmative: What would be the usual protocol and requests on funds withdrawals because the majority of brokers don’t ask you for anything when need you to make a your first deposit for a real account but, when it’s time to withdraw your funds or part of them, the is the moment they ask you for several documents and requests in order to supposedly verify your account and personal info.

    Best wishes.

  14. Their server halt made my balance negative
    stop-loss in ICMarkets is actually nothing

    During the Corona volatility, one Monday morning, on the Asia session, I realized my balanced turned to -600 (was 1,100+) in about 5 minutes.

    I was online and my terminal was connected, but there were no movements on the charts (frozen), their servers were not responding to any command and my 1,100+ turned to -600.

    When I contacted their customer support they offered me to deposit the same amount of $600 and of course internal transfer is not accepted, in return they promised that they add this amount to my account so it will show balance = 600.
    So not only I lose 1000+ I have to deposit 600 more, from my pocket, just to become 0 !!!

  15. They are a scam house. Close my position when I am winning more than 500k usd and took away all the money in my account.

  16. Don’t create a account with this broker it’s really market maker and stolen only your money because hi trade against you really

    • They are a scam. They had an IT glitch took all my 12k gpb and refused to reimburse it stating it’s a risk you take in trading. AVOID ICMARKETS AT ALL COSTS!!!!

  17. Be careful with icmarket they not more ECN broker really market maker
    They trade against you to pick your money

  18. Do you offer 1:500 leverage on retail accounts? I am experienced investor and a HNWI. I would open the account with €50000 in January rising to €100000 in February. I live in Spain and have professional advisers

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