IC Markets
Disclaimer:The information provided on this site should not be distributed or used by any individual in any country or jurisdiction where such distribution would violate local laws or regulations.
Pros and Cons
- Extremely low spreads
- High leverage available
- Excellent customer service
- Wide range of trading assets
- Multiple platforms supported (MT4, MT5, cTrader)
- Higher minimum deposit requirement
- ZuluTrade not supported
- Limited promotions and bonuses
- No U.S. clients accepted
- Withdrawal process can take time
Comprehensive Review of IC Markets: A Detailed Overview
IC Markets is one of the most recognized names in the online trading industry, especially popular among forex and CFD traders.
Established in 2007, the broker has quickly gained a reputation for offering low-cost trading, high-speed execution, and a range of trading instruments.
Headquartered in Sydney, Australia, the company operates globally, providing services to a diverse client base that includes retail traders, institutional investors, and professionals.
With a strong emphasis on technology and customer service, it has positioned itself as a leader in the industry, offering top-class trading platforms, robust educational resources, and comprehensive customer support.
This review aims to provide a thorough analysis of IC Markets, covering its trading platforms, fees, regulation, customer service, and overall trading experience.
Create a Free AccountRegulation and Security
Regulatory Bodies
IC Markets is regulated by some of the most reputable regulatory authorities in the world, ensuring that it adheres to strict financial and operational standards.
The company is regulated by:
- Australian Securities and Investments Commission (ASIC): IC Markets operates under license number 335692 issued by ASIC, one of the most respected financial regulators globally. ASIC regulation ensures that it maintains high standards in terms of capital requirements, client fund segregation, and overall financial transparency.
- Cyprus Securities and Exchange Commission (CySEC): In Europe, the company is regulated by CySEC under license number 362/18. CySEC provides a framework that aligns with the European Markets in Financial Instruments Directive (MiFID II), offering additional layers of protection for European clients.
- Financial Services Authority (FSA) of Seychelles: IC Markets is also licensed by the FSA in Seychelles under license number SD018. While this regulator is not as stringent as ASIC or CySEC, it allows them to offer more flexible services in certain regions.
Client Fund Security
IC Markets prioritizes the security of client funds by adhering to strict regulatory requirements.
The broker segregates client funds from its operational funds, ensuring that in the unlikely event of insolvency, client funds are protected and can be returned to them.
Client funds are held in Tier-1 banks, further enhancing the security of these funds.
Moreover, IC Markets offers Negative Balance Protection, which ensures that clients cannot lose more than their deposited funds.
This feature is particularly important for those who use high leverage, as it mitigates the risk of incurring substantial losses beyond their account balance.
Trading Platforms
IC Markets provides access to three of the most popular and advanced trading platforms in the industry: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.
Each platform caters to different types of traders, from beginners to advanced professionals, offering a range of tools, features, and functionalities.
MetaTrader 4 (MT4)
Overview
MetaTrader 4 is perhaps the most widely used trading platform globally, known for its user-friendly interface and powerful features.
It is particularly popular among forex traders and those who prefer algorithmic trading through Expert Advisors (EA).
Features
- Advanced Charting: MT4 offers a wide range of charting tools, including various timeframes, indicators, and drawing tools, allowing users to analyze market trends with precision.
- Automated Trading: One of MT4’s standout features is its support for automated trading through Expert Advisors (EA). Traders can create or import EA to execute trades automatically based on predefined criteria.
- Customizable Interface: The platform allows users to customize their workspace, enabling anybody to set up charts, tools, and windows according to their preferences.
- Multiple Order Types: MT4 supports various order types, including market orders, pending orders, stop orders, and trailing stops, offering flexibility in trade execution.
- Back testing Capabilities: Traders can back test their strategies using historical data, allowing them to optimize their trading systems before deploying them in live markets.
MetaTrader 5 (MT5)
Overview
MetaTrader 5 is the successor to MT4, offering more advanced features and tools.
While it shares many similarities with MT4, MT5 is designed to cater to more sophisticated trading strategies, including those involving multiple asset classes.
Features
- Enhanced Trading Tools: MT5 offers more timeframes, order types, and technical indicators than MT4, providing with greater flexibility and more detailed market analysis.
- Economic Calendar: Unlike MT4, MT5 has an integrated economic calendar, which is crucial for those who base their strategies on economic news and events.
- Depth of Market (DOM): MT5 includes a Depth of Market feature, showing real-time bid and ask prices, which is particularly useful for traders who need to see market liquidity.
- Multi-Asset Trading: While MT4 is primarily focused on forex, MT5 supports a broader range of asset classes, including stocks, commodities, and futures.
- Advanced Order Management: MT5 offers a more sophisticated order management system, allowing investors to manage multiple positions with ease.
cTrader
Overview
cTrader is another powerful platform, particularly favored by traders who seek transparency and advanced trading tools.
cTrader is known for its intuitive interface, fast execution speeds, and sophisticated trading features.
Features
- Advanced Charting and Technical Analysis: cTrader provides over 70 indicators, 26 timeframes, and various chart types, making it ideal for technical analysis.
- Level II Pricing: cTrader offers Level II pricing, displaying the full range of executable prices coming directly from liquidity providers, giving traders insight into market depth.
- Automated Trading with cAlgo: cTrader integrates with cAlgo, allowing traders to develop, backtest, and deploy algorithmic trading systems.
- Fast Execution: cTrader is known for its lightning-fast execution speeds, with trades being executed in milliseconds, which is crucial for high-frequency trading strategies.
- Customizable Layouts: Traders can customize the platform’s layout to suit their trading style, creating a more personalized trading environment.
Trading Instruments
IC Markets offers a wide range of trading instruments, providing market participants with numerous opportunities to diversify their portfolios.
Its offerings include:
Forex
Forex trading is at the core of its services.
The broker provides access to over 60 currency pairs, including major, minor, and exotic pairs.
Traders benefit from extremely low spreads, starting from 0.0 pips on major pairs like EUR/USD, and high liquidity, which is essential for executing large orders with minimal slippage.
Commodities
IC Markets offers trading on more than 50 commodities, including precious metals like gold and silver, energy products like oil and natural gas, and agricultural products like wheat and coffee.
These instruments allow people to hedge against inflation, diversify their portfolios, and take advantage of global economic trends.
Indices
It also provides access to major global indices, including the S&P 500, NASDAQ 100, FTSE 100, and DAX 30.
Trading indices allow traders to speculate on the overall performance of a basket of stocks, providing exposure to broader market movements rather than individual stocks.
Stocks
IC Markets offers CFDs on a wide range of stocks from major global exchanges, including the NYSE, NASDAQ, and London Stock Exchange.
This allows you to take advantage of price movements in individual companies without owning the underlying shares.
Cryptocurrencies
Cryptocurrency trading has become increasingly popular, and IC Markets offers trading of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple.
Cryptocurrency trading is available 24/7, providing opportunities for traders around the clock.
Bonds and Futures
It also offers trading on bonds and futures, allowing users to diversify their portfolios further.
These instruments are ideal for those looking to trade interest rates or hedge against other market positions.
Comparative Table of Trading Instruments
| Asset Class | Examples | Trading Hours | Spreads |
|---|---|---|---|
| Forex | EUR/USD, GBP/JPY, AUD/CAD | 24/5 | From 0.0 pips |
| Commodities | Gold, Silver, WTI Oil | Varies by commodity | Low spreads |
| Indices | S&P 500, NASDAQ 100, FTSE 100 | 24/5 | From 0.5 points |
| Stocks | Apple, Tesla, Amazon | Exchange hours | Variable spreads |
| Cryptocurrencies | Bitcoin, Ethereum, Ripple | 24/7 | Variable spreads |
| Bonds | US 10-Year Treasury Note, German Bund | 24/5 | Variable spreads |
| Futures | Various futures contracts | Varies by contract | Variable spreads |
Account Types
IC Markets offers 4 account types to cater to different trading styles and preferences.
Each account type is designed to meet the needs of a specific type of trader, whether they are a beginner, a professional, or an institutional investor.
Standard Account
Overview
The Standard Account is designed for investors who prefer a straightforward trading experience with no commissions.
Instead, their fees are included in the spread.
Features
- Spreads: Spreads on the Standard Account start from 1.0 pips, which is relatively low compared to industry standards.
- Minimum Deposit: The minimum deposit required to open a Standard Account is $200.
- Leverage: Leverage of up to 1:500 is available, depending on the regulatory jurisdiction.
- Platforms: Available on MT4, MT5, and cTrader.
- Trading Instruments: Access to all trading instruments.
- Execution: No dealing desk (NDD) execution, ensuring fast and reliable trade execution.
Raw Spread Account
Overview
The Raw Spread Account is the most popular account type, particularly among experienced traders and scalpers.
This account offers the tightest spreads with a small commission per trade.
Features
- Spreads: Spreads start from 0.0 pips on major currency pairs, making it ideal for high-frequency traders.
- Commission: A commission of $3.50 per lot per side is charged on forex trades.
- Minimum Deposit: The minimum deposit is $200, similar to the Standard Account.
- Leverage: Up to 1:500 leverage is available.
- Platforms: Available on MT4, MT5, and cTrader.
- Trading Instruments: Access to the full range of trading instruments.
- Execution: ECN (Electronic Communication Network) execution with deep liquidity and minimal slippage.
Islamic Account
Overview
The Islamic Account is designed for people who require a swap-free account due to their religious beliefs.
This account adheres to Sharia law, ensuring that no interest is charged on overnight positions.
Features
- Spreads: Similar to the Standard or Raw Spread Accounts, depending on the chosen setup.
- Swap-Free: No swaps or rollover interest is charged on overnight positions.
- Minimum Deposit: The minimum deposit is $200.
- Leverage: Up to 1:500 leverage is available.
- Platforms: Available on MT4 and MT5.
- Trading Instruments: Access to all trading instruments except cryptocurrencies.
- Execution: Same as other account types, with NDD or ECN execution.
Comparison of Account Types
| Feature | Standard Account | Raw Spread Account | Islamic Account |
|---|---|---|---|
| Spreads | From 1.0 pips | From 0.0 pips | From 1.0 pips |
| Commission | None | $3.50 per lot per side | None |
| Leverage | Up to 1:500 | Up to 1:500 | Up to 1:500 |
| Minimum Deposit | $200 | $200 | $200 |
| Platforms | MT4, MT5, cTrader | MT4, MT5, cTrader | MT4, MT5 |
| Swap-Free | No | No | Yes |
| Execution | NDD | ECN | NDD or ECN |
Fees and Costs
Understanding the fee structure is crucial for any trader, as it directly impacts the overall profitability of trading activities.
IC Markets is known for its competitive fee structure, especially in terms of spreads and commissions.
Spreads
As previously mentioned, it offers two primary types of accounts: the Standard Account and the Raw Spread Account.
The spreads differ significantly between these two accounts.
- Standard Account: Spreads start from 1.0 pips, with no additional commission. This account is more suited for beginners who prefer an all-inclusive spread.
- Raw Spread Account: Spreads start from 0.0 pips, but a commission of $3.50 per lot per side is charged. This account is ideal for traders who require the tightest possible spreads, especially for scalping and high-frequency trading.
Commission
The commission at IC Markets is only applicable to the Raw Spread Account and is one of the lowest in the industry.
The commission is $3.50 per lot per side, which translates to $7 per round turn per lot.
For traders who trade large volumes, this low commission structure can result in significant cost savings.
Overnight Fees (Swaps)
For those who hold positions overnight, the firm charges swap fees (interest on leveraged positions).
The swap rates vary depending on the currency pair or asset being traded and the direction of the position (long or short).
Islamic Accounts, however, are exempt from these fees, as they are swap-free.
Deposit and Withdrawal Fees
IC Markets does not charge any fees for deposits or withdrawals, which is a significant advantage over many other brokers.
However, customers should be aware that their payment provider or bank may charge fees for processing these transactions.
The available payment methods include bank transfers, credit/debit cards, PayPal, Skrill, Neteller, and UnionPay.
Inactivity Fee
Unlike some brokers, IC Markets does not charge an inactivity fee.
This means that traders can leave their accounts dormant without worrying about any penalties or fees being deducted from their balance.
Summary of Fees
| Fee Type | Standard Account | Raw Spread Account | Islamic Account |
|---|---|---|---|
| Spreads | From 1.0 pips | From 0.0 pips | From 1.0 pips |
| Commission | None | $3.50 per lot per side | None |
| Overnight Fees (Swaps) | Yes | Yes | No |
| Deposit/Withdrawal Fees | None | None | None |
| Inactivity Fee | None | None | None |
Trading Experience
Execution Speed
One of its strongest selling points is its execution speed.
The broker uses No Dealing Desk (NDD) execution, ensuring that trades are executed without any dealing desk intervention.
This model eliminates potential conflicts of interest and provides a more transparent trading environment.
IC Markets also offers ultra-fast execution speeds, with trades being executed in under 40 milliseconds on average.
This speed is crucial for those involved in high-frequency trading or scalping, where every millisecond can impact profitability.
Liquidity and Slippage
IC Markets sources its liquidity from a pool of top-tier liquidity providers, ensuring deep liquidity and tight spreads even during volatile market conditions.
The broker’s ECN (Electronic Communication Network) model means that orders are matched with liquidity providers directly, minimizing the risk of slippage.
In terms of slippage, it has a reputation for offering minimal slippage, which is a significant advantage for traders who execute large orders or trade during news events.
However, it is important to note that slippage can occur during periods of extreme market volatility, but this is an industry-wide issue rather than something specific to IC Markets.
Leverage
Leverage is available up to 1:500, which is among the highest in the industry.
This level of leverage allows investors to control large positions with a relatively small amount of capital.
However, it also increases the risk, as leverage can amplify both profits and losses.
The available leverage may vary depending on the regulatory jurisdiction under which the trader’s account is registered.
For instance, European clients under CySEC regulation may have access to lower leverage due to regulatory restrictions imposed by ESMA.
Risk Management Tools
IC Markets provides a range of risk management tools to help traders manage their exposure and protect their capital.
These tools include:
- Stop Loss and Take Profit Orders: These orders allow people to automatically close their positions at predetermined levels, helping to lock in profits or limit losses.
- Trailing Stops: A trailing stop moves with the market price, locking in profits as the market moves in the trader’s favor while protecting against adverse movements.
- Margin Call and Stop Out Levels: IC Markets has set margin call and stop out levels to ensure that traders do not incur losses beyond their deposited funds. These levels vary depending on the account type and regulatory jurisdiction.
Mobile Trading Experience
IC Markets offers mobile trading apps for all three platforms (MT4, MT5, and cTrader), allowing traders to manage their accounts and execute trades from anywhere at any time.
The mobile apps are well-designed, with intuitive interfaces that provide access to all the essential features found on the desktop versions.
The mobile apps support advanced charting, technical analysis, and one-click trading, making them suitable for both casual and professionals.
Push notifications and alerts are also available, ensuring that traders can stay updated on market movements even when they are away from their desks.
Customer Support and Educational Resources
Customer Support
IC Markets places a strong emphasis on customer support, offering 24/7 support via multiple channels, including live chat, email, and phone.
The support team is known for being responsive, knowledgeable, and professional, addressing queries and resolving issues promptly.
- Live Chat: Available 24/7, live chat is the most convenient way to get immediate assistance. The response time is typically under a minute, and the support staff are well-trained to handle a wide range of inquiries.
- Email Support: Email support is also available, with response times typically within a few hours. This option is best for non-urgent inquiries or when detailed explanations are required.
- Phone Support: The company offers phone support for clients who prefer to speak directly with a representative. The phone lines are open 24/7, and the support staff are fluent in multiple languages.
Educational Resources
IC Markets provides a wealth of educational resources to help traders improve their skills and knowledge.
These resources are suitable for all experience levels, from beginners to advanced professionals.
- Webinars and Tutorials: IC Markets regularly hosts webinars covering various topics, including trading strategies, market analysis, and platform tutorials. These webinars are conducted by industry experts and are free for all clients.
- Trading Guides: The broker offers a range of trading guides, covering everything from basic trading concepts to advanced technical analysis. These guides are well-structured and easy to understand, making them ideal for self-study.
- Market Analysis: It also provides daily market analysis and commentary, helping traders stay informed about the latest market trends and news. This analysis is available on its website and is also sent to clients via email.
- Blog and News: Their blog is another valuable resource, offering articles on a wide range of trading-related topics. The blog covers everything from market updates to trading psychology, providing traders with insights and tips to improve their trading performance.
Conclusion
IC Markets stands out as a top-tier broker that offers a comprehensive trading experience for both retail and professionals.
With its robust regulatory framework, advanced trading platforms, and competitive fee structure, IC Markets is well-positioned to cater to a global clientele.
Its focus on providing fast execution, deep liquidity, and low trading costs makes it particularly attractive to high-frequency traders and scalpers.
Additionally, the wide range of trading instruments and account types ensures that it can meet the needs of traders with different strategies and preferences.
Customer support is another strong point, with 24/7 availability and multiple channels of communication.
The educational resources provided further enhance the overall trading experience, making it an excellent choice for traders of all experience levels.
Overall, IC Markets is a reliable and reputable broker that delivers on its promises, offering a safe, efficient, and user-friendly trading environment.
Whether you are a beginner looking to start your trading journey or a seasoned professional seeking a new broker, IC Markets is a solid choice that deserves serious consideration.
Visit official website: www.icmarkets.comFAQ
Is IC Markets a regulated broker?
Yes, the company is regulated by several top-tier regulatory bodies including ASIC (Australia), CySEC (Cyprus), and FSA (Seychelles). These regulations ensure that the company adheres to strict financial and operational standards.
What is the minimum deposit required to open an account?
The minimum deposit required to open an account is $200. This amount is higher than some brokers but aligns with the professional services they offer.
What trading platforms does it support?
IC Markets supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader platforms. These platforms are highly regarded in the trading community for their robust tools, advanced features, and user-friendly interface.
Are there any fees for deposits and withdrawals?
IC Markets does not charge any fees for deposits or withdrawals, although fees may be applied by your payment provider or bank. It's important to check with your financial institution for any potential charges.
Does IC Markets offer a demo account?
Yes, it offers a demo account that allows traders to practice their strategies with virtual funds before committing real money. The demo account is available on all the supported platforms.
Can I trade cryptocurrencies on IC Markets?
Yes, IC Markets offers trading on a variety of cryptocurrency pairs including Bitcoin, Ethereum, Litecoin, and Ripple. Cryptocurrency trading is available 24/7.
What leverage does IC Markets provide?
It provides leverage up to 1:500, depending on the asset class and the regulatory jurisdiction under which your account is registered. High leverage can amplify profits but also increases risk.
References and Sources
- Official Website: https://www.icmarkets.com/
- Instagram: https://www.instagram.com/icmarketsglobal/
- LinkedIn profile: https://au.linkedin.com/company/icmarkets
- Trustpilot: https://www.trustpilot.com/review/icmarkets.com
- YouTube: https://www.youtube.com/ICMarkets
Featured Video
User Reviews
Article written, edited and reviewed by
Last updated: September 5, 2025
