Trading fees are one of the most important aspects when evaluating a broker. They directly impact profitability and can inadvertently reveal which strategies a broker supports, and which are discouraged due to the way fees are charged.
Our IC Markets fees review breaks down all trading and non-trading costs. Read on to learn why IC Markets ranks among the most competitive brokers.
Overview of IC Markets Fees and Charges
Traders get a competitive cost structure with IC Markets, where commission-free Forex fees start from 0.6 pips on the major currency pairs or $6.00 per 1.0 standard round lot. There is also a commission-based cTrader option but with raw spreads. MT4/MT5 traders pay $7.00 per round lot. The same applies to equity CFD commissions.
High-frequency traders can further reduce their trading fees via a three-tier volume-based rebate program by $1.50, $2.25, and $2.50 per 1.0 standard round lot, making IC Markets one of the cheapest brokers industry-wide.
Here is a snapshot of IC Markets fees:
Fee | Type of Fee | Applicable at IC Markets |
|---|---|---|
Spreads | Trading fee | Yes (0.0 pips raw spreads, 0.6 pips commission-free) |
Commission | Trading fee | Yes (account dependent) |
Swap rates on leveraged overnight positions | Trading fee | Yes (including positive swap rates) |
Live Price Feed / Stamp Duty/ Settlement Fee | Trading fee | Yes (asset dependent) |
Deposit Fee | Non-trading fee | No |
Withdrawal Fee | Non-trading fee | No |
Inactivity Fee | Non-trading fee | No |
Account Fee | Non-trading fee | No |
Currency Conversion Fee | Trading fee and non-trading fee | No |
IC Markets Fees, Spreads, and Commission Explained
Trading costs at brokers fall into two categories: trading and non-trading fees. Traders should know the IC Markets fees to help them understand what they have to pay for and why and how those costs compare against competitors.
Trading fees are:
- Spreads (the difference between the bid and the ask price of an asset, here IC Markets ranks amongst the most competitive brokers especially for high-volume traders)
- Commissions (account dependent but competitive)
- Swap rates (financing charge or credit on leveraged overnight positions, where again IC Markets compares well)
- Currency conversion fees (not applicable, IC Markets makes conversions at the available market prices with no markup)
Non-trading fees are:
- Deposit fee (not applicable at IC Markets)
- Withdrawal fee (not applicable at IC Markets)
- Inactivity fee (not applicable at IC Markets)
- Currency conversion fee (not applicable at IC Markets)
IC Markets Trading Fees
IC Markets trading fees apply to each transaction and are asset and account type dependent.
Here is an overview of the minimum trading fees at IC Markets:
Asset | Minimum Markup over Raw Spreads | Minimum Commission | Total IC Markets Fees |
|---|---|---|---|
Forex (Standard account) | 0.6 pips | Commission-free | $6.00 per 1.0 standard round lot |
Forex (MT4/MT5 Raw account) | 0.0 pips | $7.00 per 1.0 standard round lot | $7.00 per 1.0 round lot |
Forex (cTrader Raw account) | 0.0 pips | $6.00 per 1.0 standard round lot | $6.00 per 1.0 round lot |
Equities | 0 (only raw market spreads apply) | $7.00 per $100,000 in nominal value | $7.00 per $100,000 |
Indices | 0.2 pips to 9.0 pips | Commission-free | $2.00 to $90.00 per contract |
Commodities | $0.02 to $3.00 | Commission-free | $0.02 to $3.00 per contract |
IC Markets Overnight Fees (Swap Rates)
One of the most overlooked trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become a significant cost in holding a trade position over longer timeframes.
Swap rates, or overnight financing, apply on leveraged overnight positions, which many brokers triple on Wednesday to account for trades settling t+2 (time of trade plus 2 days) for example a trade closed on a Thursday will not settle until 2 working days, so Monday will be the next available value date therefore swap rates apply over the weekend. Closing positions before 5 p.m. EST allows traders to avoid swap rates. Periods of extended market holidays will also affect settlement and thus swap rates for trades as the market must be open for trades to settle.
MT4/MT5 traders can easily access swap rates from their platform by following these steps:
1. Right-click on the desired symbol in the Market Watch window and select Specification.
2. Scroll down until you see Swap Long and Swap Short.
cTrader traders can easily access swap rates from their platform by following these steps:
1. Click on the desired symbol in the left-hand section of the trading platform.
2. Swap rates are available on the right-hand section under “Symbol info.”
Noteworthy:
- IC Markets ranks amongst the cheapest brokers for leveraged overnight trading due to small markups on swap rates
Currency Conversion Fees
IC Markets does not levy internal currency conversion fees. Customer support confirmed that it would conduct currency conversions at the first available market rates, which of course fluctuate continuously.
IC Markets Non-Trading Fees
Non-trading fees refer to account transactions other than trading, like deposits, withdrawals, and inactivity. While they are notably less frequent, traders should know about them to avoid confusion and unpleasant surprises.
IC Markets Deposit Fee
There is no internal deposit fee at IC Markets. This means a trader making a $1,000 deposit will receive $1,000. IC Markets supports USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD as account base currencies, and there are no internal currency conversion fees.
IC Markets Withdrawal Fee
IC Markets does not charge a withdrawal fee, but traders should know some third-party processing fees and potential currency conversion fees by payment processors may apply.
IC Markets Inactivity Fee
Unlike many other brokers, IC Markets does not levy an account inactivity fee.
IC Markets Safety and Security
IC Markets was founded back in 2007, and it is regulated in four major jurisdictions and has an excellent track record. It is regarded as one of the leading brokers supporting algorithmic trading, it also offers negative balance protection to its clients, and segregates client deposits from corporate funds. It has established itself amongst the most trusted and secure multi-asset CFD brokers with 500,000+ daily trades, $29+ billion in daily Forex trading volume, and $1.1 trillion total monthly trading volume.
IC Markets Fees Bottom Line
IC Markets fees are ultra-competitive, especially for high-volume traders who can achieve a cost structure as low as $3.50 per 1.0 standard round lot via volume rebates. The pricing advantage extends to swap rates too, where IC Markets keeps its markups comparatively small on financing rates, including crediting positions subject to positive swaps points. There are no non-trading fees at IC Markets, and the absence of any currency conversion fees makes it a leading Forex broker, as evident by its excellent order execution and trading volume statistics. Yes, IC Markets charges raw spreads account commission. MT4/MT5 traders pay $7.00 per 1.0 standard round lot, and cTrader traders $6.00. A three-tier volume-based rebate program lowers trading fees by $1.50, $2.25, and $2.50 per 1.0 standard round lot. No, IC Markets does not charge inactivity fees. Spreads apply the instant a trader opens a position, commissions, if applicable are displayed on the deal ticket when traders open and close trades, and swap rates/financing on leveraged positions after the New York market close 5pm EST. Withdrawals are free of charge at IC Markets. IC Markets charges spreads, trade ticket commissions based on a volume fee, and swap rates/financing (where applicable) on leveraged overnight positions. Yes, IC Markets has two commission-based trading accounts alongside its commission-free alternative.FAQs
Does IC Markets charge raw spreads account commission?
Does IC Markets charge inactivity fees?
When do IC Markets charge fees?
How much does IC Markets charge for withdrawal?
What trading fees do IC Markets charge?
Does IC Markets charge commissions?