IC Markets Review
IC Markets is an Australian CFD broker. The company has been operational since 2007, and is one of the premier choices for high-frequency traders, as well as those who prefer automated trading solutions. The IC Markets Raw Spread Connectivity bridge offers retail traders access to an institutional pricing and liquidity environment. Over 500,000 trades are executed daily, with 60% of those from automated trading solutions. With an average execution time of 40 milliseconds, maximum leverage of 1:500 for all clients, and spreads as low as 0.0 pips, IC Markets has carved out a prominent place in today’s ultra-competitive brokerage industry.
|⚖️ Regulations||CySEC, FSA, ASIC|
|💰 Type of broker||ECN/STP, No Dealing Desk|
|💰 Minimum Deposit||$200|
|💰 Maximum Leverage||1:500|
|📊 Type of platform||MetaTrader 4, MetaTrader 5, cTrader, Web-based|
|💳 Deposit with credit card||Yes|
|👛 Depositing with wire transfer||Yes|
|🎮 Demo account provided||Yes|
|🛍️ Instruments traded||CFDs, Commodities, Metals, Stocks, Oil, Gold, Indices|
Regulation and Security
The Australian Securities and Investment Commission (ASIC) and the Seychelles Financial Services Authority (FSA) provide an excellent regulatory framework for IC Markets clients. IC Markets also operates a subsidiary under the authorization of Cyprus Securities and Exchange Commission (CySEC), but trading conditions are significantly less favorable, as is common with European regulatory requirements. Professional Indemnity Insurance is maintained with Lloyd’s of London and H Savy Insurance in Seychelles. Client deposits are segregated and held at National Australia Bank and Westpac Banking Corporation. IC Markets is a member of the Australian Financial Complaints Authority (AFCA), contracts two independent auditors, and deploys policies according to the Australian Anti-Money Laundering and Counter-Terrorism Financial Act 2006.
IC Markets' Regulatory Framework
Is IC Markets a Safe Broker?
Yes, IC Markets is a safe broker. International Capital Markets Pty Ltd is the owner of IC Markets and holds an Australian Financial Services Licence (AFSL No. 335692) from the Australian Securities and Investments Commission (ASIC), operational since 2007. ASIC remains one of the most trusted global financial regulators, trailing only the UK Financial Conduct Authority (FCA). It maintains a business-friendly regulatory environment, and all AFSL holders must meet strict capital requirements, deploy internal risk management protocols, and ensure adequate staff training. IC Markets expands its security approach via external audits and has professional indemnity insurance. It is additionally a member of the Australian Financial Complaints Authority (AFCA), which is an approved Australian external dispute resolution body responsible for disputes between customers and financial services providers who maintain membership. It is similar to the Hong Kong-based Financial Commission. IC Markets remains in full compliance with ASIC and has a spotless record.
Per regulatory stipulations, IC Markets executes KYC protocols and adheres to anti-money laundering practices outlined in the Australian Anti-Money Laundering and Counter-Terrorism Financial Act 2006. Therefore, account verification is mandatory, which includes submitting a copy of the trader's ID and one proof of residency document. Client deposits remain segregated from corporate funds. The custodian banks of IC Markets are the National Australia Bank (NAB) and Westpac Banking Corporation (Westpac), two top-tier Australian banks. Negative balance protection exists, ensuring traders can never lose more money than their deposit, despite the competitive leverage of 1:500. Traders may obtain more information from the legal documents published on the website or by contacting customer support. IC Markets EU, regulated by the Cyprus Securities and Exchange Commission (CySEC), serves the European Economic Area (EEA) traders, but from a less competitive trading environment. All international clients will manage portfolios at Raw Trading Ltd, the Seychelles entity authorized by the Financial Services Authority of Seychelles (FSA). Overall, IC Markets is one of the safest brokers operational today.Back to Top
IC Markets Fees
IC Markets traders have access to a fair pricing environment. The EUR/USD averages just 0.1 pips for a commission of $7 per round lot in the Raw Spread Account. A commission-free account is available, where the lowest spread is listed at 1.0 pips, and the EUR/USD averages 1.1 pips. Short-sellers are levied a stock borrow fee only if the hedge counter-party charges IC Markets. Swap charges on leveraged overnight positions apply while corporate actions impact equity positions. Bank wires fees or additional payment processor charges from third-party vendors may exist. Overall, the broker's pricing structure remains sufficiently competitive.
The Raw Spread Account provides exceptional spreads, while the Standard Account carries fair ones.
IC Markets Spreads
The cost structure at IC Markets remains highly competitive in the commission-based raw spread accounts, while the commission-free standard alternative ranks in the middle of the scale compared to competitors. Low-frequency and casual traders have access to an average EUR/USD mark-up of 1.1 pips without additional costs. Other brokers are offering it as low as 0.4 pips, making the offer less attractive. It could be intentional to direct traders to the two accounts where high-frequency benefit from an outstanding average raw spread on the same currency pair of just 0.1 pips. The commission is $7 per round lot in the MT4 account and $6 per $100,000 of nominal trading volume in cTrader. The MT4 options, per IC Markets, is most in demand, due to its full support of over 15,000 electronic advisors (EAs) available, with more being developed on the MT4 infrastructure. Forex traders will benefit from the beneficial cost structure provided by IC Markets spreads.
Commodities also feature attractive spreads, with Brent crude oil futures at an average cost of 0.05 pips in all three accounts. Gold has an average mark-up of 1 pip in the two commission-based account options versus 2 pips in the commission-free one. Index traders will find an attractively priced environment with the S&P 500 starting from 0.6 pips, the FTSE 100 at 1 pip, and the DAX 30 also at 1 pip. Bonds are available from 0.015 pips, and cryptocurrencies across all account options follow the low IC Markets spreads structure. Bitcoin carries an average mark-up of 10 pips, Ethereum commences at 4.5 pips, and Ripple from 0.016 pips. Islamic accounts face a fixed financing cost per lot per day, compensating for the absence of swap rates. The tight IC Markets spreads enable all trading strategies, including scalping and high-frequency trading, and there are no restrictions.
Commission charges will depend on the base currency of the account.
cTrader fees apply per transaction, unlike the fixed approach in MT4.
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What Can I Trade
IC Markets focuses on the most liquid assets across seven asset classes, in line with its appeal to scalpers and automated trading solutions. The result is outstanding, and suitable for the majority of traders. Given the overall exceptional trading environment, any future enhancements will simply add to this broker's value. Enhancing the appeal of this broker is the deep liquidity, making it a top choice for asset management firms and high-frequency traders.
Pure Forex traders will find the 60 currency pairs with a maximum leverage of 1:500 an outstanding offer.
The 17 indices is an ample introduction to this asset class, though it could be widened.
With 19 commodities, adequate coverage and trading opportunities are available.
Over 120 equity CFDs cover the most traded companies across multiple exchanges.
More than six bonds make another asset class available to clients.
IC Markets provides ten cryptocurrency pairs, but trading is only available 24/5.
Completing the asset selection are four futures CFDs.
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During our IC Markets review we found that three different accounts are available. The commission-free Standard Account carries the highest spreads. The Raw Spread Account is available on the MT4 and proprietary cTrader platforms. Traders have access to spreads as low as 0.0 pips, but realistic ones are 0.1 pips and higher. While the MT4 carries a fixed commission of $7.00 per lot, cTrader has a flexible one with a minimum of $6 per lot. The minimum deposit, regardless of account type, is $200. Islamic accounts are available.
The Raw Spread Account for the MT4 trading platform offers the most superior trading environment.
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IC Markets offers the full suite of MT4/MT5 and cTrader platforms; they include desktop versions, web traders, and mobile applications. The MT4 platform is supported through 20 plug-ins available exclusively for live account holders as part of the Advanced Trading Tools suite. cTrader, the market leader for the ECN execution model, offers another excellent choice. cAlgo allows for the addition of automated trading solutions using the C# language, while MT4 applications are coded in MQ4. All platforms fully support algorithmic trading, but the MT5 is by far the least suited option. Islamic accounts are equally supported.
Traders have the best trading environment in the MT4 trading platform, upgraded with the IC Markets Advanced Trading Tools suite.
The MT5 trading platform is available; however, the MT5 represents the least favorable trading environment.
cTrader offers traders a genuine and viable alternative to MT4.
cAlgo allows for the development of automated trading solutions.
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MAM/PAMM solutions support portfolio managers since 2012, and VPS servers are available with three providers. Myfxbook Autotrade and market-leader ZuluTrade cater to the needs of social traders. The Advanced Trading Tools suite upgrades the sub-standard basic version of the MT4 and turns it into a competitive trading platform.
IC Market's excellent trading conditions offer portfolio managers a competitive advantage.
VPS servers may be obtained free of charge if the trader's monthly trading volume exceeds 15 lots.
Myfxbook Autotrade allows traders to follow strategies.
ZuluTrade further enhances social trading opportunities.
The Advanced Trading Tools suite features 20 exclusive trading tools for the MT4 trading platform.
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Research and Education
Enhancing the core trading environment are auxiliary services provided on the IC Markets blog. Research is divided into fundamental and technical analyses. New traders have access to a broad educational suite, where a combination of written content and video tutorials mirror the overall quality of services provided by this broker.
The IC Markets blog features quality content and research.
A well-presented educational suite is also maintained.
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Traders have access to multilingual support 24/7. Live chat provides the most convenient form of communication. Additional options include e-mail and toll-free numbers. The Help Center attempts to answer the most common questions.
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IC Markets Bonuses and Promotions
Bonuses are essential to many brokers, and some exclusively rely on them to attract new traders. There are numerous Forex brokers with attractive offers for traders with a long-term focus. They can offer traders a necessary boost during the portfolio growth stage until it can sustain desired annualized returns. Regardless of the deposit amount, some bonuses exist, which provide a genuine advantage. Presently, there is no IC Markets bonus available. Rather than using incentives to attract new traders or poach existing ones from competitors with bonuses, IC Markets deploys a highly attractive all-around trading environment. While bonus campaigns can represent a superb trading tool, similar to leverage, the majority do not know how to use them properly or do not understand their purpose. Therefore, many traders misuse them and often deploy counter-productive or destructive trading methods. Those traders chasing bonuses from broker to broker tend to be unsuccessful traders, make one deposit, and trade until they face a total loss before moving on to the next one.
While IC Markets does not offer bonuses or other incentives, it more than covers the shortfall with its core trading environment. Instead of focusing on short-term marketing tactics to boost revenues once, IC Markets deploys a long-term approach to attract loyal traders seeking to deploy strategies for sustainable profitability. New traders may feel disadvantaged as they start to build their portfolio, but the competitive trading costs and ECN account with raw spreads deliver more profits per trade. In most cases, the low-cost structure is more of a bonus than any other incentive, especially when viewed over a longer time horizon, where the savings add up to a significant boost in profitability. IC Markets maintains an affiliate program, and while it is not a bonus, traders with smaller initial deposits may use it to attract new clients. The passive revenue stream can deliver a boost to the portfolio and expand trading operations.Back to Top
Opening an Account
A four-step online application form processes new account applications. Alternatively, this task can be completed through PayPal. Verification of new accounts, as required by regulators, is accomplished by sending a copy of the trader's ID, together with one proof of residency document.
IC Markets Demo
Unlike many Forex brokers, IC Markets grants everyone an unlimited demo account. All account types, trading platforms, and products are available in demo versions, as this broker tries to create identical conditions for traders to assess the excellent trading environment without any pressure to open a live account. Some brokers try to maintain more favorable conditions in a demo account to grant new traders a false sense of accomplishment, which often leads to deposits. IC Markets does an excellent job of offering demo accounts without expiry, which is rare among today's leading Forex brokers. The topic of using demo accounts for learning purposes is highly controversial, but the majority focuses only on new retail traders needing a demo account. They miss the fastest growing sector of the global financial system, which is automated trading and autonomous trading solutions, which is where IC Markets enjoys a distinct leadership position.
Demo accounts fulfill an essential role in the automated trading scene, where they serve a defining role in the development process of new trading solutions. FinTech companies and independent developers require adequate testing capabilities to test autonomous trading solutions, identify bugs, and adjust. For this purpose, an unlimited demo account remains a necessity, which IC Markets provides. Since this broker offers the MT4 trading platform, the leader in automated trading solutions with over 15,000 electronic advisors (EAs) operating on its infrastructure, the demo account as provided by IC Markets complements the needs of development teams. The MT5 trading platform and cTrader also fully support automated trading, and demo accounts are equally available. Together with the superb technology at IC Markets, together with the competitive cost structure, IC Markets remains one of the most sought-after multi-asset brokers with a distinct advantage for developers and users of automated trading solutions. VPS hosting and the IC Markets demo accounts are paramount to the success of the business model of this broker.Back to Top
Deposits and Withdrawals
IC Markets supports fourteen withdrawal methods. They consist of bank wires, credit/debit cards, PayPal, Neteller, Neteller VIP, Skrill, UnionPay, Bpay, FasaPay, POLI, Thai Internet Banking, Rapidpay, Klarna, and Vietnamese Internet Banking. The withdrawal process at IC Markets is simple, and most processing times are instant, except for bank wires, which can take between two and five business days, Bpay, noted between twelve to forty-eight hours, and Thai Internet Banking between fifteen and thirty minutes. IC Markets does not levy internal withdrawal costs, but third-party processing fees may apply. International Bank wires incur a charge of A$20 or a currency equivalent, which this broker deducts from the withdrawal balance. Domestic ones remain free of charge. So, if you decide to wire $1,000 out of IC Markets as an international client, the amount sent will total $980 minus any costs levied by your bank. Traders can avoid this fee by using any of the other available withdrawal options, and many third-party processors grant debit cards so traders can use their funds without the need to pay outdated bank costs. Traders should check which payment processors allow only bank withdrawals, which generally face additional fees.
Traders must make all withdrawal requests from inside the Secure Client Area. Contacting customer support via e-mail, phone, or live chat to request a withdrawal will result in a failure to execute. The cut-off time for withdrawal requests is noon AEST/AEDT, and IC Markets will process all received ones the same day. This broker will process any withdrawal requests received after that time during the following business day. The name on the payment processor must match that of the IC Markets trading account, as stipulated by AML requirements. Some payment processors do not allow the withdrawal amount to exceed the deposit amount, and traders must withdraw excess capital via bank wire or another supporting method. IC Markets, at its discretion, may ask traders to supply additional documentation like deposit receipts or credit/debit card statements.
IC Markets Minimum Deposit
Traders may choose between three account types, the commission-free Standard Account, and two commission-based alternatives, the Raw Spread Account and the cTrader Account. All three require a minimum deposit of $200 or a currency equivalent. An Islamic version is available for qualifying traders, where the same minimum amount applies. The IC Markets' minimum deposit remains higher than many of its competitors, where it can be as little as $0, granting traders the freedom to deposit as much or as little as they wish. Some brokers ask between $500 and $2,000 for an initial deposit. While IC Markets does not offer the most flexible approach, it remains far away from the most expensive one. There are two other essential facts to keep in mind. Primarily, the initial deposit at IC Markets is $200, but follow-on transactions should be lower and only be restricted based on the requirements from the payment processor. Traders can contact customer support to enquire about the minimum deposit amount following the initial one, as the information is not available on the website or in the help section. Secondly, it requires capital to trade Forex or any other financial market. The Forex market has the lowest entry requirements, which adds to its rapid growth. Many traders from emerging and frontier markets may view $200 as excessive and often arrived at a website due to misleading marketing campaigns from affiliates or signal providers. While it depends on your expectations from your Forex trading portfolio, a minimum deposit of $200 will not suffice to achieve a large income stream. Therefore, it remains essential to focus on portfolio building via subsequent deposits and take advantage of compounding deposits. It is best to create a strategy and commit to a monthly deposit plan. There are an overwhelming amount of false marketing and doctored account statements showing tremendous profits with small portfolios. Avoid the hype and keep in mind that the average successful professional portfolio manager will deliver returns between 8% to 15% per year. Do the math with those figures when you determine the size of your portfolio. The IC Markets' minimum deposit requirement of $200 will not yield ground-breaking income, $30 if you achieve 15% annualized, and portfolio building is part of any successful trading strategy.
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- Headquarters : Australia
- Regulation : CySEC, FSA, ASIC
- Type of Broker : 35,139
- U.S. Clients Allowed :
- Minimum Deposit : $200
- Maximum Leverage : 1:500
- Commissions / Spreads : Both
- Account 1 : Standard
- Account 2 : Raw Spread
- Demo Account :
- Islamic Account :
- Segregated Account :
- Managed Accounts :
- Deposit Options :
- Withdrawal Options :
- ETFs :
- CFDs :
- Commodities :
- Metals :
- Stocks :
- Oil :
- Gold :
- Binary Options :
- Indices :
- Type of Platform : MetaTrader 4, MetaTrader 5, cTrader, Web-based
- Platform Languages :
- OS Compatibility :
- Trading Signals :
- Charting Package :
- Market Analysis :
- Chart Trading :
- Automated Trading :
- Scalping :
- Hedging :
- Mobile Alerts :
- E-mail Alerts :
- Trailing Stops :
- Guaranteed Stop Loss :
- Guaranteed Limit Orders :
- Guaranteed Execution :
- One-click Execution :
- OCO Orders :
- Interest on Margin :
- Web-based Trading :
- Mobile Trading :
- Website Languages :
- Support Hours : 24/7
- E-mail Support :
- SMS Support :
- Chat :
Is IC Markets Reliable?
This broker is one of the most reliable Forex brokers in operation. It remains fully compliant with its regulators, processes trades without a dealing desk, and provides a competitive trading environment.
How long does a withdrawal take?
Withdrawals are processed instantly but may take several days to arrive in the trader account; that is dependent on the selected payment option and the location of the trader. In the majority of cases, it will take only a few hours to be credited.
What is the minimum deposit?
All account types have a minimum deposit of $200 or an account currency equivalent.
Is IC Markets regulated?
The Australian Securities and Investment Commission (ASIC) and the Seychelles Financial Services Authority (FSA) are the primary regulators. IC Markets also operates a subsidiary under the authorization of the Cyprus Securities and Exchange Commission (CySEC).
Does IC Markets have NASDAQ listed equities?
Yes. This broker's offering of more than 120 of the world's most liquid equities available for trade include several listed on the NASDAQ exchange.
Is IC Markets a True ECN?
Yes, IC Markets is a genuine ECN provider. This broker sources prices from external unrelated liquidity providers and passes them on to clients without a dealing desk. Retail traders receive raw interbank pricing for which IC Markets charges a commission to offset the costs. Therefore, spreads can be as low as 0.0 pips, and traders have access to the cTrader platform, the market leader in ECN trading.
How long does IC Markets withdrawal take?
The withdrawal time is dependent on the processing method. The withdrawal request cut-off time is noon AEST/AEDT. Any request received after that is processed the following business day. International bank wires may take up to fourteen business days. Credit/debit cards average between three to five days but can take as long as ten days. Any unforeseen IC Markets withdrawal issue will prolong the time-period, and traders may have to submit additional documents. E-Wallet requests are instantly processed if received before noon AEST/AEDT.
What is IC Markets Leverage?
The maximum leverage at IC Markets is 1:500. It means that for every $1, traders can control an investment worth $500. It magnifies profits and losses alike and remains one of the most effective trading tools if used in conjunction with adequate risk management protocols.
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IC Markets is a great choice for all types of traders, from retail traders through high-frequency operations to asset management firms. It established itself as the top choice for automated trading solutions, which accounts for over 60% of all processed orders. A competitive pricing environment combined with a sound asset selection allows for proper cross-asset diversification, all from an enhanced MT4 trading platform. In-house research is published on the broker’s blog, an outstanding educational section is maintained, and popular social trading options are additionally available. Simply put, IC Markets ticks all the boxes and deserves a prime portfolio from dedicated traders.Back to Top
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