IC Markets Review

Overview

IC Markets is a strong choice for active forex and CFD traders who want tight raw pricing, MetaTrader, cTrader or TradingView, and support for strategies such as scalping and automated trading. The biggest caveat is regulation: IC Markets operates through different legal entities, and the investor protections, leverage limits, fees and available products depend on which entity actually holds your account.

For most traders, the sensible approach is to choose the strongest locally regulated IC Markets entity available to them rather than selecting an offshore entity purely to obtain higher leverage.

IC Markets is also going through a branding transition. The global business is now branded IC, formerly IC Markets, and moved its main global website from icmarkets.com to ic.com in July 2026. IC Markets Australia and IC Markets EU continue to operate through their regional websites and legal entities.

Last updated: 10 September 2026

Pricing and account availability vary by jurisdiction.

Is IC Markets legit?

Yes. IC Markets is a legitimate broker group with regulated legal entities in several jurisdictions, including Australia, Cyprus, Seychelles and Kenya. However, "IC Markets is regulated" is not enough information on its own because each licence applies to a specific company.

The legal entity named in your account agreement determines the regulator and the protections available to you.

ASIC confirms that International Capital Markets Pty Ltd operates under licence 335692. CySEC's register lists IC Markets (EU) Ltd under licence 362/18, while Kenya's Capital Markets Authority lists IC Markets (KE) Limited under licence 199.

The difference matters in practice. An EU retail client can receive negative balance protection and may qualify for Investor Compensation Fund protection of up to €20,000. The EU entity also limits retail leverage to 1:30.

Those protections should not automatically be assumed to apply to an account opened with Raw Trading Ltd in Seychelles.

Does IC Markets keep client money separate?

Yes. IC Markets states that client funds are kept separate from company operating funds across its Australian, EU and global entities.

In Australia, client money is held in segregated trust accounts at National Australia Bank. IC Markets EU says that client funds are held separately under MiFID client-money requirements. Raw Trading Ltd says global client money is held in segregated accounts with banking institutions.

Segregation is a useful protection, but it does not remove broker, bank or market risk.

Has IC Markets had regulatory problems?

Yes. IC Markets has a regulatory history, and it includes enforcement action.

CySEC imposed a €200,000 administrative fine on IC Markets (EU) Ltd in July 2024. The fine concerned activities that CySEC said circumvented retail CFD initial-margin protections through a third-country group entity.

CySEC said leverage of up to 1:1000 had been facilitated despite the 1:30 retail limit. A judicial review was later filed.

CySEC also announced a separate €50,000 fine in September 2024 concerning requirements that included best-execution procedures. Its public record shows a judicial review filing for that decision as well.

That does not make IC Markets an illegitimate broker. It does mean a serious review should not reduce the safety question to "regulated by ASIC and CySEC, therefore safe".

Our view is that regulation remains a net positive, especially for traders who can use the Australian or EU entity. The 2024 CySEC action still belongs in the decision.

How competitive are IC Markets' spreads and fees?

IC Markets is competitively priced for active forex trading, particularly through its Raw Spread accounts, but traders should compare the total cost rather than focusing on the "0.0 pip" headline.

The current global MetaTrader Raw Spread account lists the following pricing:

IC states that the average EUR/USD spread on its MetaTrader Raw Spread account is around 0.1 pips. Spreads are variable and can widen.

What does that actually cost?

A standard EUR/USD lot represents 100,000 units and has an approximate US$10 pip value when the USD is the quote currency.

At a 0.1-pip average spread:

• 0.1 pip spread ≈ US$1
• Add the Raw Spread commission:

US$3.50 opening + US$3.50 closing = US$7

That produces an indicative all-in round-trip cost of about: US$1 spread + US$7 commission = US$8 per standard EUR/USD lot

That calculation excludes slippage and overnight financing and assumes the stated 0.1-pip average spread.

This exposes an important point that gets missed in a lot of IC Markets reviews. A Raw account is not automatically cheaper just because the advertised minimum spread is 0.0 pips.

The Standard account begins at 0.8 pips with no commission, which would also represent roughly US$8 on a standard EUR/USD lot at that exact spread.

The better comparison is therefore: live spread + commission + slippage + overnight financing

That is more useful than comparing minimum spread claims in isolation.

Does IC Markets have a minimum deposit?

It depends on the entity. Several older reviews are now out of date.

IC's current global account information lists a US$0 minimum deposit for both the Standard and MetaTrader Raw Spread accounts.

IC Markets EU gives different information. Its help centre states that EU clients need a €200 minimum deposit or equivalent.

So a blanket statement such as "IC Markets has a $200 minimum deposit" is no longer accurate globally.

Which trading platforms does IC Markets offer?

IC Markets offers one of the stronger platform selections among forex-focused CFD brokers: MetaTrader 4, MetaTrader 5, cTrader and TradingView are all currently supported by the global business.

MetaTrader 4 remains useful for traders relying on the large MT4 Expert Advisor and indicator ecosystem.

MetaTrader 5 adds broader market support and a more modern MetaTrader environment.

cTrader is the stronger fit for traders who prefer its interface, depth-of-market tools and C# automation ecosystem.

TradingView is particularly useful for charting and browser-based technical analysis, but there is an important limitation: IC's TradingView integration currently operates through a cTrader Raw account.

You cannot assume every IC Markets account type can simply be connected to TradingView.

For algorithmic forex traders, MetaTrader's EA support and IC Markets' Raw Spread account are likely to be the most relevant combination.

What can you trade with IC Markets?

IC Markets is mainly a forex and derivatives broker. The product list varies by entity and platform.

The global MetaTrader Raw Spread account currently lists up to 2,250 tradable instruments. IC also offers CFDs across forex, shares, indices, commodities, cryptocurrencies, futures and other markets.

Availability differs by platform.

Australian customers have another distinction to consider: IC Markets Australia also offers separate share-trading services for Australian-listed securities.

That service should not be confused with share CFDs on the international CFD platform. Buying an underlying share and trading a share CFD are different products.

For long-term investors, that distinction matters.

Is IC Markets good for scalping and algorithmic trading?

Yes. Active trading is one of IC Markets' clearest use cases.

The global Raw Spread account is aimed at scalpers and Expert Advisor users.

The MetaTrader servers are located in the Equinix NY4 data centre. IC says its average execution speed is below 40 milliseconds once an order reaches its systems.

That speed figure comes from IC Markets and is not an independently guaranteed latency level. Actual results depend on your location, connection, order type, liquidity and market conditions.

IC Markets makes more sense for an active trader than for someone looking for a simple place to make an occasional long-term investment.

How do IC Markets deposits and withdrawals work?

IC Markets does not generally charge its own deposit or withdrawal fees under the global entity, but banks and payment providers can still impose charges.

For the global business, withdrawal requests received before the stated 12:00 AEST/AEDT cut-off can be processed on the day they are received.

Card withdrawals may take around three to five business days after processing, while international bank transfers can take longer and may incur intermediary fees.

The key distinction is between broker fees and third-party banking fees.

"Free withdrawal" does not necessarily mean every withdrawal reaches your account without any cost.

Does IC Markets charge an inactivity fee?

It depends on the entity.

The current global IC information says there is no inactivity fee.

IC Markets EU reserves the right to charge 10 units of the account currency per month after six consecutive months without trading activity.

Australian customers should check the latest applicable Account Terms because fee provisions can change.

Do not copy fee information from an old global IC Markets review and assume it applies to every account.

What are the main advantages and disadvantages of IC Markets?

What do IC Markets customers say?

Public customer sentiment is positive overall, especially around customer support.

Review-platform ratings can tell you something about customer service, but they cannot show whether trading will be profitable, every withdrawal will be trouble-free or the broker is free from financial risk.

Regulatory records and contractual protections carry more weight than a review-site star rating when assessing broker safety.

How risky is trading with IC Markets?

The largest risk for most customers is not IC Markets itself. It is leveraged CFD trading.

IC Markets' regulated entities publish risk warnings showing that a substantial majority of retail CFD accounts lose money.

Leverage magnifies both profits and losses.

Global IC accounts can offer dramatically higher leverage than EU retail accounts, including very high leverage on certain MetaTrader configurations.

That is not inherently an advantage.

A trader who needs extreme leverage to make a strategy economically interesting should probably question the strategy before questioning the broker.

Who is IC Markets best for?

IC Markets is best suited to active forex and CFD traders who understand leverage and care about execution costs, raw spreads and platform choice.

It may suit:

• MetaTrader EA users
• scalpers
• day traders
• active forex traders
• traders who prefer cTrader
• traders who want TradingView integration
• experienced CFD traders comparing execution costs

It is less suitable for:

• complete beginners attracted primarily by extreme leverage
• passive investors wanting to build a conventional portfolio of underlying shares and funds
• traders who do not understand CFD or leverage risk
• residents of jurisdictions that IC Markets does not accept
• anyone choosing a broker purely because its advertised minimum spread is 0.0 pips

IC Markets review verdict

IC Markets is a good broker for the job it is actually built to do: active forex and CFD trading at competitive transaction costs.

The platform choice is excellent. Raw Spread pricing is competitive. MetaTrader, cTrader and TradingView give active traders plenty of flexibility, and multiple regulated entities give IC Markets considerably more substance than an anonymous offshore CFD operation.

But the legal entity is the part we would check before the spread.

An Australian ASIC account, an EU CySEC account and a Seychelles Raw Trading Ltd account do not provide identical leverage, fees or investor protections.

IC Markets' 2024 CySEC enforcement history also deserves to be visible rather than buried beneath affiliate copy.

If IC Markets fits your trading style, the sensible next step is to open a demo account first, confirm the exact legal entity shown in the account documents, check the live all-in cost on the instruments you actually trade, and only then decide whether to fund the account.

That is a much better basis for choosing IC Markets than a 0.0-pip headline.