IC Markets Review

IC Markets (International Capital Markets Pty Ltd) is an Australian-based, globally regulated online broker that offers retail and institutional traders access to over 2,200 tradable instruments across forex, commodities, indices, stocks, bonds, futures, and cryptocurrencies — all via industry-leading platforms.

Founded in 2007 and headquartered in Sydney, IC Markets has spent nearly two decades building a reputation as a go-to broker for traders who demand the very best in pricing and execution. The broker is especially popular among scalpers, day traders, and algorithmic/automated traders who benefit from spreads as tight as 0.0 pips and execution speeds measured in milliseconds.

In Q4 2025, IC Markets recorded an average monthly trading volume of USD 1.76 trillion and an average daily trading volume of USD 81.3 billion — figures that cement its status as a true global heavyweight. The broker has also expanded its brand partnerships in recent years, including a multi-year deal with the MoneyGram Haas F1 Team, reinforcing its position at the top tier of global financial service providers.

IC Markets operates through multiple legal entities to serve traders across different regions, each regulated by a relevant financial authority:

• IC Markets Pty Ltd — regulated by ASIC (Australia), serving Australian clients
• IC Markets (EU) Ltd — regulated by CySEC (Cyprus), serving European clients
• Raw Trading Ltd (IC Markets Global) — regulated by FSA (Seychelles), serving international clients
• IC Markets Ltd — regulated by SCB (Bahamas)

The broker does not accept clients from the United States due to regulatory restrictions.

When evaluating any forex or CFD broker, regulation and fund safety are the most important factors to consider. IC Markets scores well here, holding licences from multiple respected financial authorities worldwide.

Regulatory Bodies

ASIC (Australian Securities and Investments Commission)
IC Markets Pty Ltd is regulated by ASIC under licence number 335692. ASIC is one of the world's most respected Tier-1 regulators, known for strict enforcement of financial conduct rules and strong consumer protections. Australian clients benefit from the full scope of ASIC oversight.

CySEC (Cyprus Securities and Exchange Commission)
IC Markets (EU) Ltd holds a CySEC licence, bringing the broker under the scope of European Union financial regulation. EU clients benefit from negative balance protection and access to the Investor Compensation Fund (ICF), which covers up to €20,000 per eligible client in the event of broker insolvency.

FSA (Financial Services Authority, Seychelles)
Raw Trading Ltd (trading as IC Markets Global) is regulated by the FSA Seychelles with licence number SD018. This entity serves international clients and offers higher leverage (up to 1:1000 on some instruments). It is considered a Tier-3 regulatory licence.

SCB (Securities Commission of the Bahamas)
IC Markets Ltd is also regulated by the SCB, providing another layer of regulatory oversight for global operations.

FSCA (Financial Sector Conduct Authority, South Africa)
IC Markets holds an FSCA licence, allowing it to serve clients in South Africa with regulatory protections in place.

Segregated Client Funds

A critical safety measure: IC Markets holds all client funds in segregated accounts at top-tier banks, completely separate from the company's own operational funds. Client money is never used for hedging trades or other internal purposes, significantly reducing counterparty risk.

Negative Balance Protection

Clients under ASIC and CySEC regulation benefit from negative balance protection, ensuring that traders can never lose more than the funds in their account.

No Requotes Policy

IC Markets operates a strict no-requotes policy, meaning all orders are filled at the price requested (or at the next best available price in rapidly moving markets), which is especially important for scalpers and news traders.

Overall Safety Rating: High — IC Markets is a well-regulated, transparent broker with strong financial stability and robust client protection measures.

IC Markets offers three main live account types, catering to traders with different preferences for pricing models and platforms.

1. Standard Account

The Standard Account operates on a spread-only pricing model — no commissions are charged on any trades. Instead, the broker's cost is built into slightly wider spreads.

• Spreads: From 0.8 pips on EUR/USD
• Commission: None
• Minimum Deposit: $200
• Platforms: MT4, MT5
• Leverage: Up to 1:500 (varies by jurisdiction)
• Best For: Beginners, casual traders, and those who prefer simplicity

2. Raw Spread Account (MT4/MT5)

The Raw Spread Account delivers institutional-grade pricing with spreads as tight as 0.0 pips, plus a fixed commission per lot traded.

• Spreads: From 0.0 pips
• Commission: $3.50 per side ($7.00 round turn) per standard lot
• Minimum Deposit: $200
• Platforms: MT4, MT5
• Leverage: Up to 1:500 (varies by jurisdiction)
• Best For: Active traders, scalpers, algorithmic traders, and high-volume traders

3. Raw Spread Account (cTrader)

Similar to the MT4/MT5 Raw account but hosted on the cTrader platform with a slightly lower commission structure.

• Spreads: From 0.0 pips
• Commission: $3.00 per side ($6.00 round turn) per standard lot
• Minimum Deposit: $200
• Platforms: cTrader
• Leverage: Up to 1:500 (varies by jurisdiction)
• Best For: cTrader users, level 2 pricing fans, and EA/cBot traders

4. Demo Account

IC Markets offers a free demo account with virtual funds, allowing traders to practise strategies and explore the platforms without any financial risk. Demo accounts are available on all supported platforms.

5. Islamic Account (Swap-Free)

A swap-free Islamic account is available for Muslim traders who require Sharia-compliant trading conditions. See the dedicated Islamic Account section below for full details.

Base Currencies Available

IC Markets supports 10 base currencies for account funding: AUD, USD, EUR, SGD, GBP, JPY, CHF, CAD, HKD, and NZD — helping traders avoid unnecessary currency conversion fees.

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Trading costs are where IC Markets truly shines, consistently offering some of the most competitive pricing structures in the retail forex and CFD industry.

Spreads

IC Markets' spreads beat the industry average across all major instrument categories tested. Here's a snapshot of typical spreads:

| Instrument | Standard Account | Raw Account |
|---|---|---|
| EUR/USD | ~0.8 pips | ~0.1 pips |
| GBP/USD | ~1.0 pips | ~0.2 pips |
| Gold (XAUUSD) | ~0.2 | ~0.07 |
| Crude Oil (WTI) | Highly competitive | Highly competitive |
| BTC/USD | Competitive | Competitive |
| S&P 500 (US500) | Competitive | Competitive |

Crude oil and BTC/USD spreads at IC Markets are especially competitive versus industry benchmarks.

Commissions

• Standard Account: $0 commission (spread-only)
• Raw Spread MT4/MT5: $3.50 per side per standard lot
• Raw Spread cTrader: $3.00 per side per standard lot

Non-Trading Fees

• Account Maintenance Fee: None
• Inactivity Fee: None
• Deposit Fee: None (broker side)
• Withdrawal Fee: None (broker side; intermediary bank fees may apply for international wire transfers)
• Currency Conversion Fee: May apply when depositing or withdrawing in a currency different from your base account currency

Overnight Swap Rates

Traders holding positions overnight are subject to swap/rollover charges (or credits, depending on position direction). IC Markets' swap rates can be on the higher side compared to some competitors — it's worth factoring this into your strategy if you regularly hold positions overnight or over weekends.

Swap charges are not uniform:

• FX, Metals, Bonds, Commodity CFDs: Triple swaps applied on Wednesdays


• Energies, Indices, Cryptocurrencies: Triple charges on Fridays

MetaTrader 4 remains the world's most popular retail forex trading platform, and IC Markets offers a well-optimised MT4 experience. MT4 at IC Markets features access to 30 built-in indicators, 9 timeframes, one-click trading, and full support for Expert Advisors (EAs) — making it the go-to choice for automated trading enthusiasts.

MetaTrader 5 (MT5)

MT5 is the natural evolution of MT4, offering expanded functionality including more timeframes (21), additional order types, a built-in economic calendar, improved backtesting, and access to additional markets. For traders who want more analytical depth, MT5 is the stronger option.

cTrader

cTrader is a sophisticated, ECN-focused platform known for its clean interface, depth-of-market (DOM) visibility, Level II pricing, and powerful automation tools via cBots. It is particularly popular among professional and institutional traders. Notably, the cTrader Raw account at IC Markets has a slightly lower commission ($3.00/side) than the MT4/MT5 Raw account ($3.50/side).

TradingView

IC Markets also supports TradingView, the world's most popular charting platform, which is excellent for traders who want to use TradingView's powerful charting tools alongside IC Markets' execution quality. Note: TradingView is only available on Raw Spread accounts, not the Standard account.

All four platforms are accessible via desktop (Windows/Mac), web browser, and mobile (iOS/Android).

IC Markets gives traders access to an extensive catalogue of 2,200+ tradable instruments across all major asset classes:

Forex (Currency Pairs)

IC Markets offers a comprehensive range of 60+ currency pairs, including all major, minor, and exotic pairs. The forex offering is the core of IC Markets' business, and it shows — pricing and execution on FX are second to none.

Commodities

Trade popular hard and soft commodities including gold, silver, crude oil (WTI and Brent), natural gas, coffee, sugar, cotton, and more — all as CFDs.

Indices

Access major global stock indices including the S&P 500, NASDAQ 100, Dow Jones, FTSE 100, DAX 40, ASX 200, Nikkei 225, and many more via competitive spread CFDs.

Stocks / Share CFDs

IC Markets offers a wide selection of share CFDs on leading global companies, including US, UK, European, and Australian stocks — without the need to own the underlying shares.

Cryptocurrencies

Trade popular cryptocurrency CFDs including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and others. Crypto CFDs are commission-free on all IC Markets account types — costs come only from spreads and overnight swaps.

Bonds & Futures

IC Markets also offers access to government bond CFDs and futures contracts, broadening the portfolio options for more sophisticated traders.

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IC Markets makes funding your account straightforward, with a broad range of payment methods and no broker-side fees.

Minimum Deposit

$200 across all live account types (Standard, Raw MT4/MT5, Raw cTrader).

Deposit Methods

• Credit/Debit Cards: Visa and Mastercard
• eWallets: PayPal, Skrill, Neteller, Neteller VIP, FasaPay, Rapidpay, Klarna, POLi, BPay
• Bank/Wire Transfer
• UnionPay
• Thai Internet Banking
• Vietnamese Internet Banking
• Broker to Broker Transfer

Processing Times

• Cards and eWallets: Instant or near-instant
• Bank Wire: 2–5 business days

Fees

IC Markets does not charge deposit or withdrawal fees on its side. However, intermediary bank fees may apply to international wire transfers, and currency conversion fees may apply if your payment currency differs from your account base currency.

In line with Anti-Money Laundering (AML) regulations, IC Markets does not process payments to third-party accounts — all withdrawals must go to a source in the trader's own name.

Withdrawal Processing

Most eWallet and card withdrawals are processed within 1–2 business days. Bank wire transfers may take 3–5 business days depending on your bank and country.

IC Markets offers 24/7 customer support — a significant advantage over many brokers that only operate during business hours. Support channels include:

• Live Chat: Available directly on the website and in the client portal — fastest response times
• Email: Support tickets handled promptly, typically within a few hours
• Phone: Telephone support available for urgent queries

The IC Markets support team is consistently rated positively by traders for responsiveness, professionalism, and product knowledge. Support is available in multiple languages to serve its global client base.

IC Markets is fully equipped for traders who prefer to manage positions on the go. All four supported platforms — MT4, MT5, cTrader, and TradingView — have dedicated iOS and Android mobile apps, offering most of the functionality found on desktop versions including:

• Real-time price feeds and charts
• Full order management (market, limit, stop, trailing stop orders)
• Account management and deposit/withdrawal access
• Push notifications for price alerts
• Technical indicators and drawing tools

The mobile experience across all platforms is polished and reliable, making IC Markets a strong choice for mobile-first traders.

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Islamic Account (Swap-Free)

IC Markets offers a swap-free Islamic account for Muslim traders who are required to trade in compliance with Sharia law, which prohibits the earning or payment of riba (interest).

Key Features

• Available across MT4, MT5, and cTrader platforms
• No overnight swap charges on eligible instruments
• Available on both Standard and Raw Spread account types
• The broker may apply an administration fee in lieu of swap charges on some instruments — check current terms directly with IC Markets

The Islamic account is a genuine and well-implemented offering at IC Markets, not an afterthought — making the broker a competitive choice for traders in the Middle East, Southeast Asia, and other regions with large Muslim trading populations.

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VPS Hosting

IC Markets offers Virtual Private Server (VPS) hosting, which is an essential tool for traders who run automated strategies (Expert Advisors on MT4/MT5 or cBots on cTrader) and need uninterrupted 24/7 connectivity to the broker's servers.

Key VPS Features

• Hosted at Equinix NY4 (New York) and Equinix LD5 (London) data centres — the same locations as IC Markets' own servers, ensuring ultra-low latency
• VPS is offered free of charge to traders who meet minimum monthly trading volume requirements
• Traders who do not meet the volume threshold can subscribe to VPS for a monthly fee
• Reduces slippage and ensures EAs run without interruption, even if your personal computer is turned off

For algorithmic and high-frequency traders, IC Markets' VPS offering is one of the most compelling in the industry thanks to its server co-location setup.

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Copy Trading

IC Markets caters to traders who want to replicate the strategies of experienced investors through its copy trading integrations:

ZuluTrade

ZuluTrade is one of the world's largest social and copy trading platforms, connecting over 100,000 signal providers from 192 countries. IC Markets clients can link their accounts to ZuluTrade and automatically copy the trades of vetted, top-performing traders in real time.

Myfxbook AutoTrade

Myfxbook is a widely trusted forex analytics and copy trading platform. IC Markets' integration with Myfxbook AutoTrade allows clients to browse verified trader performance histories and automatically mirror their trades.

Both services are fully integrated with IC Markets' MT4 and MT5 platforms, and there are no additional platform fees charged by IC Markets for using these services (though ZuluTrade and Myfxbook may apply their own service fees or spreads).

Copy trading is an excellent option for beginner traders who want market exposure while they learn, or for experienced traders who wish to diversify across multiple strategies.

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Educational Resources

IC Markets provides a range of educational materials suitable for beginner to intermediate traders:

• Trading guides and articles covering forex fundamentals, platform tutorials, and strategy basics
• Video tutorials for platform walkthroughs (MT4, MT5, cTrader)
• Economic calendar integrated into the trading environment
• Glossary of trading terms
• Demo account — arguably the most effective educational tool, allowing risk-free practice

While the educational content is more detailed than many competitors, absolute beginners may find themselves needing to supplement IC Markets' resources with third-party materials, as the broker's primary focus is on experienced traders.

Market Research & Analysis

IC Markets integrates Trading Central — a professional-grade market intelligence tool that provides technical analysis signals, economic event analysis, and trading ideas across forex, commodities, indices, and stocks.

Market analysis available at IC Markets includes:

• Trading Central signals embedded directly in the platform
• Autochartist pattern recognition and volatility analysis
• Economic calendar with real-time data
• Market news feeds

The research offering is solid and functional, though it leans more toward technical analysis tools than in-depth macroeconomic commentary.

Based on our in-depth analysis, IC Markets is an outstanding choice for the following trader profiles:

Scalpers & Day Traders — Ultra-tight spreads (especially on Raw accounts from 0.0 pips) and sub-millisecond execution speeds make IC Markets one of the best environments for short-term, high-frequency trading strategies.

Algorithmic & Automated Traders — Full support for Expert Advisors (MT4/MT5) and cBots (cTrader), VPS hosting co-located with IC Markets' servers, and a no-requotes environment make IC Markets ideal for algo traders.

Experienced & Professional Traders — Deep liquidity, multiple platform options, access to 2,200+ instruments, and institutional-grade pricing cater to seasoned professionals.

High-Volume Traders — The more you trade, the more you benefit from IC Markets' tight spread and low commission structure.

Copy Traders — ZuluTrade and Myfxbook AutoTrade integrations make it easy to follow top-performing traders.

Muslim Traders — A genuine, well-implemented Islamic (swap-free) account available across all platforms.

IC Markets may not be the best fit for:

• Complete beginners who need extensive hand-holding and education


• US-based traders (not accepted)


• Traders who prefer a proprietary platform or social-first trading experience


• Traders who want the absolute minimum deposit (some brokers start at $1–$10)

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