Petko Aleksandrov
7/9/2026
If you are researching brokers and want a detailed, up-to-date IC Markets review, you are in the right place. Known for raw spreads, fast execution, and powerful platforms, IC Markets has become a top choice for both beginner and advanced traders.
In this IC Markets review, we break down everything you need to know, from trading conditions and account types to regulation, tools, and customer support, so you can decide if this broker fits your trading goals.
IC Markets Quick Facts
| Feature | Details |
| Founded | 2007 |
| Regulation | ASIC (Tier 1), CySEC (Tier 2), FSA Seychelles (Offshore) |
| Licence Numbers | ASIC 335692, CySEC 362/18, FSA SD018 |
| Platforms | MT4, MT5, cTrader |
| Min. Deposit | $200 |
| Spreads From | 0.0 pips (Raw Spread accounts) |
| Execution Speed | Under 40ms |
| Instruments | 2,250+ |
| Trustpilot Score | 4.5/5 (approx. 40,000+ reviews) |
| Best For | Scalpers, algo traders, high-frequency strategies |
What Is IC Markets?
IC Markets is a global forex and CFD broker founded in 2007 and built around one core proposition: giving retail traders access to institutional-grade conditions. Tight spreads, deep liquidity, fast execution, and no dealing desk intervention are the pillars the broker has operated on since launch.
Today IC Markets handles over $1.6 trillion in monthly trading volume and serves more than 200,000 clients worldwide. Its infrastructure runs from the Equinix NY4 data centre, connecting traders to over 25 liquidity providers with execution speeds averaging under 40 milliseconds.
IC Markets operates a true ECN model, meaning spreads can reach 0.0 pips during peak trading hours on Raw Spread accounts. It is one of the most popular choices among scalpers, algo traders, and anyone who prioritises precision, low cost, and execution reliability.
Is IC Markets Safe or a Scam?
IC Markets is not a scam. It is a legitimate, multi-regulated broker with a long operating history and a well-documented track record. Here is the structured safety assessment:
- Regulatory standing: IC Markets operates through three regulated entities covering three distinct jurisdictions, ranging from Tier 1 through to offshore. The primary entity for most international traders is Raw Trading Ltd, regulated by the Seychelles FSA (SD018). Australian clients operate under IC Markets (AU) Pty Ltd, regulated by ASIC (335692), and European clients under IC Markets (EU) Ltd, regulated by CySEC (362/18). ASIC is one of the most respected financial regulators globally; its authorisation is a strong credibility signal.
- Segregated funds: Client funds are held in segregated bank accounts, completely separate from the broker’s operational capital. In the event of financial difficulty at the broker level, client funds are ringfenced and cannot be used to cover company liabilities.
- No dealing desk: IC Markets operates a no-dealing desk (NDD) execution model. The broker profits from commissions and spreads, not from client losses, which eliminates the conflict of interest that exists with market maker brokers.
- Negative balance protection: Negative balance protection is available under the CySEC-regulated entity, ensuring EU clients cannot lose more than their deposited capital. For clients under other entities, this protection is not guaranteed and leverage risk should be managed accordingly.
- Trustpilot reputation: IC Markets holds a strong Trustpilot rating of approximately 4.5 out of 5, based on tens of thousands of verified reviews. The most common positive themes are fast execution, low spreads, and responsive support. Negative reviews, where they exist, typically relate to account verification delays rather than withdrawal issues or fraud.
- Verdict: IC Markets is a safe, legitimate broker for forex and CFD trading. Traders should be aware of which entity they are onboarded under and the level of regulatory protection that applies.
IC Markets Regulation
IC Markets operates through three regulated entities, each covering a different jurisdiction and offering different levels of client protection.
| Entity | Regulator | Tier | Licence |
| IC Markets (AU) Pty Ltd | ASIC (Australia) | Tier 1 | 335692 |
| IC Markets (EU) Ltd | CySEC (Cyprus) | Tier 2 | 362/18 |
| Raw Trading Ltd | FSA (Seychelles) | Offshore | SD018 |
Most international traders accessing IC Markets through the globally available platform are onboarded under the Seychelles FSA entity (Raw Trading Ltd). This entity provides adequate operational standards including segregated client funds and SSL-encrypted transactions, but it does not carry the same investor protections as the ASIC or CySEC entities, such as guaranteed negative balance protection or participation in investor compensation schemes.
Australian clients benefit from full ASIC oversight, including negative balance protection and strict financial reporting requirements. European clients under CySEC regulation are covered by the ICF (Investor Compensation Fund) up to €20,000 in the event of broker insolvency.
IC Markets is also a member of the Australian Financial Complaints Authority (AFCA), providing an independent dispute resolution channel for Australian clients.
Who Can Trade with IC Markets?
IC Markets accepts traders from most global jurisdictions, including India, South Africa, Malaysia, Thailand, and the majority of Europe and Asia-Pacific. Account registration is completed online, with verification typically processed within 24 hours.
Multiple base currencies are supported, including USD, EUR, AUD, GBP, JPY, and SGD, reducing currency conversion costs when funding with a matched currency.
IC Markets does not accept clients from the United States, Canada, Brazil, Israel, or New Zealand, due to regulatory compliance requirements in those jurisdictions.
Traders get access to unlimited demo accounts, multilingual support, and 24/7 customer service from the point of registration.
IC Markets Trading Platforms
IC Markets provides three trading platforms: MetaTrader 4, MetaTrader 5, and cTrader. All three platforms connect to the same raw ECN pricing and Equinix NY4 infrastructure, but each serves a different type of trader.
MetaTrader 4 (MT4)
MT4 remains the most widely used retail trading platform in the industry and IC Markets’ most popular option for automated trading. It supports Expert Advisors natively, works reliably under high-frequency conditions, and connects to a vast ecosystem of third-party indicators and scripts. IC Markets provides raw pricing without dealing desk intervention across all MT4 account types.
MetaTrader 5 (MT5)
MT5 expands on MT4 with additional timeframes, a built-in economic calendar, depth of market data, and multi-asset access. Stock and futures CFDs are available exclusively through MT5, making it the required platform for traders who want equity exposure alongside forex. The backtesting environment is also more advanced, with multi-currency and multi-asset testing supported.
cTrader
cTrader is IC Markets’ platform for traders who want faster execution interfaces and more granular order management. It includes Level II pricing, detachable charts, and cTrader Automate for algorithmic strategy deployment. The platform runs efficiently in ECN environments and is well-suited to discretionary traders who execute many orders per session. The cTrader Raw Spread account carries a slightly lower commission ($3.00 per side vs $3.50 on MetaTrader).
Platform Performance and Infrastructure
All platforms connect to the Equinix NY4 data centre on Wall Street, one of the most significant financial infrastructure hubs in the world. Execution speeds average under 40 milliseconds. Order routing is direct with no dealing desk involvement, maintaining stability for high-frequency strategies and institutional-sized orders.
IC Markets’ infrastructure is built around automated trading. Expert Advisors and algorithmic systems account for over 60% of trades placed daily, and the broker processes more than 500,000 trades per day through these systems.
IC Markets Account Types
IC Markets offers three live trading accounts, each suited to a different cost preference and trading style. All accounts share the same ECN execution, no-dealing-desk model, and access to 2,250+ instruments.
| Feature | Standard | Raw Spread (MT4/MT5) | Raw Spread (cTrader) |
| Spreads From | 0.6 pips | 0.0 pips | 0.0 pips |
| Commission | None | $3.50/side ($7 round turn) | $3.00/side ($6 round turn) |
| Min. Deposit | $200 | $200 | $200 |
| Platforms | MT4, MT5 | MT4, MT5 | cTrader |
| Best For | Beginners, swing traders | Scalpers, algo traders | Discretionary, ECN traders |
- Standard Account: No commissions. Costs are built into the spread, starting from 0.6 pips on major pairs. Straightforward cost structure, well-suited to beginners and swing traders who prefer simplicity over the tightest possible spreads.
- Raw Spread Account (MetaTrader): Spreads from 0.0 pips with a $3.50 commission per side per standard lot ($7 round turn). This is the preferred account for scalpers, high-frequency traders, and algorithmic strategies that benefit from the tightest possible raw interbank pricing.
- Raw Spread Account (cTrader): Identical execution to the MetaTrader Raw Spread account with a slightly lower commission at $3.00 per side ($6 round turn). Suited to traders who prefer cTrader’s interface, Level II pricing, and detachable charting tools.
A free, non-expiring demo account is available across all platforms and account types, replicating real market conditions including live spreads and execution speeds.
What Can You Trade?
IC Markets provides access to over 2,250 tradeable instruments across forex, commodities, indices, stocks, crypto, bonds, and futures through a single account.
- Forex: More than 60 currency pairs, including majors, minors, and exotics. Spreads start at 0.0 pips, and trading operates 24/5 with deep liquidity and fast execution.
- Commodities: Gold, silver, crude oil, and agricultural products. Gold (XAU/USD) remains one of the most actively traded instruments at IC Markets, with competitive spreads during standard market hours.
- Indices: S&P 500, NASDAQ 100, DAX 40, Nikkei 225, and others, available nearly 24/5 for broad market exposure.
- Stock CFDs: Over 2,100 global companies from the US, European, and Asian markets, available exclusively on MetaTrader 5. Both long and short positions are supported with leverage.
- Crypto CFDs: Bitcoin, Ethereum, Ripple, and others, available 24/7. No wallets or exchange accounts required, though regional restrictions may apply.
- Bond and Futures CFDs: Interest-rate assets and global futures contracts, accessible without a separate futures account.
IC Markets Mobile App
IC Markets provides a mobile trading app for iOS and Android. The app includes real-time price feeds, interactive charts, order history, open position management, and one-click trading. Account funding, withdrawal requests, and support access are all available through the app. All standard order types are supported. Traders who need constant market access get a secure mobile interface that retains core trading functionality without compromise.
IC Markets Trading Conditions
IC Markets is widely regarded among discerning traders as one of the most competitive ECN brokers for raw pricing, execution quality, and transparency.
Raw Spread accounts offer institutional-grade pricing sourced from over 25 liquidity providers, with spreads reaching 0.0 pips on major pairs like EUR/USD during active sessions. Standard accounts start from 0.6 pips with no commission, a simpler cost structure for lower-volume traders.
Commission on Raw Spread accounts is $3.50 per side on MetaTrader platforms and $3.00 per side on cTrader. There are no platform fees, no inactivity fees, and no withdrawal fees charged by IC Markets.
All trades execute from the Equinix NY4 data centre in under 40 milliseconds. This low latency reduces slippage significantly and ensures accurate fills even for fast-moving markets and automated strategies.
IC Markets operates a no-dealing-desk (NDD) model. Orders are not routed through or interfered with by a dealing desk. Re-quotes are absent and slippage, where it occurs, can be positive as well as negative. Scalping, hedging, and running Expert Advisors are all fully permitted and supported at the infrastructure level.
IC Markets VPS Hosting and Automated Trading
For algorithmic traders, system uptime and execution speed are essential. IC Markets offers Virtual Private Server (VPS) hosting so strategies can run continuously, even when a local computer is offline.
A VPS hosts the trading platform in a secure, always-on environment located close to IC Markets’ NY4 data centre, minimising latency and improving execution precision. This is particularly valuable for scalpers and high-frequency strategies where milliseconds matter.
IC Markets partners with top-tier VPS providers, including NYC Servers, Beeks FX, and ForexVPS. Active traders may qualify for free VPS access by trading approximately 15 lots per month on a Raw Spread account. Contact the support team with evidence of trading volume to apply.
IC Markets is one of the most automation-friendly brokers available to retail traders. There are no restrictions on Expert Advisors, no limitations on high-frequency trading, and no trade rejections related to automation. Whether running a commercially available EA or a custom-coded strategy, the broker’s infrastructure is designed to support it. Algorithmic systems currently account for over 60% of all trades executed at IC Markets daily.
IC Markets Deposits and Withdrawals
IC Markets offers fast, flexible funding with no deposit or withdrawal fees on the broker’s side.
- Deposit methods: Visa and Mastercard, bank wire transfer, Skrill, Neteller, PayPal, and cryptocurrencies (BTC, ETH, USDC, USDT). Regional options including FasaPay, UnionPay, and POLi are also available depending on location. Card and wallet deposits are typically processed instantly. Bank wire transfers take 2 to 5 business days depending on the sending institution.
- Withdrawal processing: Most withdrawals are processed within 24 hours on business days. Card and eWallet withdrawals are generally faster; bank transfers may take several additional days depending on the receiving bank.
- Fees: IC Markets charges no deposit or withdrawal fees. Third-party payment processors or banks may apply their own fees, particularly on international wire transfers. Traders should check with their payment provider before initiating large transfers.
- Supported currencies: USD, EUR, GBP, AUD, SGD, NZD, JPY, and others. Using a base currency that matches the funding currency reduces conversion costs.
- Security: All funding operations run through encrypted payment gateways with SSL protocol protection. Client funds are held in segregated accounts separate from the broker’s operational capital.
- No inactivity fees: IC Markets charges no inactivity fees regardless of how long an account remains dormant. Funds remain fully accessible and unaffected during periods of no trading activity.
IC Markets Education and Tools
IC Markets offers a range of educational resources and professional trading tools that have improved considerably in recent years.
The Education Hub covers order types, risk management, leverage, technical analysis, and platform tutorials for both MetaTrader and cTrader. Video guides and beginner-friendly articles are well organised by topic and experience level. IC Markets also hosts webinars led by market professionals covering trading techniques and current market conditions, and publishes daily market analysis with key levels, chart setups, and fundamental context.
Tools for Advanced Traders
Autochartist: Integrated directly into MetaTrader, Autochartist scans markets in real time and identifies chart patterns, key support and resistance levels, and potential breakout zones. It can be used to validate existing setups or generate new trade ideas passively.
DupliTrade: A copy trading platform that allows traders to mirror the strategies of verified professional traders in real time. Suitable for traders who want market exposure without managing every entry and exit manually.
Custom indicators and algorithmic tools: MT4, MT5, and cTrader all support custom indicators, scripts, and algorithmic bots. The MetaTrader platforms use MQL4/MQL5 for EA development, while cTrader uses cAlgo (C#-based), offering full development flexibility for strategy builders.
IC Markets Customer Support
IC Markets provides 24/7 customer support through live chat, email, and phone. This around-the-clock availability is particularly useful for traders operating across different time zones or running automated strategies that may require urgent assistance outside standard business hours.
Live chat is the fastest route to support. Most users connect to a real agent within a few minutes. The team handles technical queries, platform issues, funding questions, and account setup. Email support responds within 24 hours, with escalation available for complex issues. Phone support is handled by trained agents, not outsourced call centres.
IC Markets offers multilingual support in English, Spanish, Chinese, Vietnamese, and Portuguese. The Help Centre is well organised with step-by-step articles and FAQs covering verification, funding, and platform configuration.
Support quality is consistent regardless of account size. A $200 account receives the same assistance as a high-volume institutional account.
How to Open an Account On IC Markets
Account opening is completed online and verification is typically processed within 24 hours.
Step 1: Register.
Visit the IC Markets website and click “Start Trading.” Enter your email address and create a password.
Step 2: Complete your profile.
Provide your personal details including full name, residential address, date of birth, and phone number.
Step 3: Suitability assessment.
Answer questions about your employment, income, trading experience, and risk tolerance. This is a standard regulatory requirement.
Step 4: Select your account type and platform.
Choose between Standard, Raw Spread (MT4/MT5), or Raw Spread (cTrader). Select your preferred base currency.
Step 5: Verify your identity.
Upload a government-issued photo ID (passport or driver’s licence) and proof of address (a utility bill or bank statement dated within three months).
Step 6: Fund your account.
Once verified, log in to the client portal and deposit using your preferred method. The minimum deposit across all accounts is $200.
Step 7: Download your platform and start trading.
Download MT4, MT5, or cTrader, or access them via web browser. Log in using the credentials emailed after account approval. A demo account is available at any stage.
IC Markets vs Competitors
| Feature | IC Markets | Pepperstone | Eightcap | FP Markets |
| Regulation | ASIC, CySEC, FSA | ASIC, FCA, CySEC, DFSA | ASIC, FCA, CySEC | ASIC, CySEC |
| Min. Deposit | $200 | $0 | $100 | $100 |
| Raw Spread (EUR/USD) | 0.0 pips | 0.0 pips | 0.0 pips | 0.0 pips |
| Commission (Raw) | $3.50/side MT, $3.00 cTrader | $3.50/side | $3.50/side | $3.00/side |
| Platforms | MT4, MT5, cTrader | MT4, MT5, cTrader, TradingView | MT4, MT5, TradingView | MT4, MT5, cTrader |
| Instruments | 2,250+ | 1,200+ | 800+ | 10,000+ |
| Execution | Under 40ms | Under 30ms | Standard ECN | Standard ECN |
| Copy Trading | DupliTrade, ZuluTrade | DupliTrade, Myfxbook | Capitalise.ai | Myfxbook |
IC Markets’ primary advantage over Pepperstone is its instrument count and cTrader commission edge. Pepperstone offers TradingView integration that IC Markets does not, and its minimum deposit is $0 versus IC Markets’ $200.
FP Markets offers a broader instrument range (10,000+) and a lower cTrader commission ($3.00) but fewer copy trading integrations. Eightcap suits traders who prioritize TradingView but offer a narrower instrument selection.
IC Markets: Pros and Cons
| Pros | Cons |
| ASIC Tier 1 regulation for Australian clients | $200 minimum deposit (higher than some competitors) |
| Raw spreads from 0.0 pips | US, Canada, New Zealand, Brazil, Israel not accepted |
| Sub-40ms execution from Equinix NY4 | Stock CFDs available on MT5 only |
| MT4, MT5, and cTrader all supported | No TradingView integration |
| 2,250+ tradeable instruments | Seychelles entity has lighter regulatory protection |
| No restrictions on EAs or HFT | Limited proprietary educational content |
| No deposit, withdrawal, or inactivity fees | No fixed-spread account option |
| 24/7 customer support | |
| DupliTrade and Autochartist included | |
| Free VPS for qualifying accounts |
Final Verdict: Should You Choose IC Markets?
IC Markets is one of the most consistently rated ECN brokers for active retail traders, and for good reason. The combination of raw spreads from 0.0 pips, sub-40ms execution from Equinix NY4, full EA and automation support, and three well-supported platforms gives it a strong edge for scalpers, day traders, and algorithmic strategies.
The broker’s regulatory structure spans Tier 1 (ASIC), Tier 2 (CySEC), and offshore (Seychelles FSA), meaning the level of protection a trader receives depends on which entity they are onboarded under. For most international traders, this will be the Seychelles entity, which provides segregated funds and solid operational standards but lacks the investor compensation protections of the ASIC or CySEC entities.
The $200 minimum deposit is higher than some competitors’, and the absence of TradingView integration is a notable gap for traders who rely on that platform. Stock CFDs being MT5-only may also require a platform switch for some users.
For forex trading, CFD trading, and especially automated or high-frequency strategies, IC Markets remains one of the best-positioned brokers in the retail market. Its execution infrastructure, transparent pricing, and automation-friendly environment are difficult to match at this cost level.
Frequently Asked Questions
Is IC Markets regulated?
Yes. IC Markets operates through three regulated entities. IC Markets (AU) Pty Ltd is regulated by ASIC in Australia (licence 335692), which is a Tier 1 regulator. IC Markets (EU) Ltd is regulated by CySEC in Cyprus (362/18), a Tier 2 regulator. Raw Trading Ltd is regulated by the FSA in Seychelles (SD018), an offshore jurisdiction with lighter protections. Most international traders are onboarded under the Seychelles entity.
What is the minimum deposit at IC Markets?
The minimum deposit is $200 across all three live account types: Standard, Raw Spread (MetaTrader), and Raw Spread (cTrader). This applies regardless of the base currency selected. A free demo account is available with no minimum deposit requirement.
Does IC Markets allow scalping?
Yes. Scalping is fully permitted and actively supported at IC Markets. The broker’s no-dealing-desk execution model, 0.0 pip raw spreads, and sub-40ms execution from the Equinix NY4 data centre make it one of the most suitable brokers for scalping strategies. There are no restrictions on trade frequency or minimum hold times.
Is IC Markets good for beginners?
IC Markets is accessible for beginners through its Standard account, which has no commissions and a straightforward spread-based cost structure. The Education Hub, demo account, and 24/7 support are all available from the point of registration. However, the $200 minimum deposit and the relatively technical platform options (MT4, MT5, cTrader) may require some initial learning compared to simpler beginner-focused brokers.
Does IC Markets accept US clients?
No. IC Markets does not accept clients from the United States. This is due to CFTC and NFA regulatory requirements that the broker does not currently hold. US residents will not be able to open an account through any IC Markets entity.
Is IC Markets an ECN or market maker broker?
IC Markets is a true ECN (Electronic Communication Network) broker operating a no-dealing-desk (NDD) model. Trades are routed directly to a pool of over 25 institutional liquidity providers, including major banks and financial institutions, with no dealing desk involvement. The broker profits from commissions and spread markups, not from client losses, eliminating the conflict of interest associated with market maker execution.
Does IC Markets offer a demo account?
Yes. A free, non-expiring demo account is available across all three platforms: MT4, MT5, and cTrader. The demo account replicates live market conditions including real-time spreads and execution speeds. It can be opened before completing full identity verification, making it available from the point of initial registration.
Can I use Expert Advisors (EAs) with IC Markets?
Yes. IC Markets fully supports Expert Advisors on both MT4 and MT5. There are no restrictions on EA usage, no limitations on trade frequency, and no rejections related to automated trading. Free VPS hosting is available for traders who maintain a Raw Spread account and trade approximately 15 or more standard lots per month, providing always-on EA execution with minimal latency.
