According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $200
- MT4
- MT5
- cTrader
- TradingView
- ASIC
- CySEC
- and FSA
- 2007
Our Evaluation of IC Markets
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
IC Markets is a reliable broker with the TU Overall Score of 7.21 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by IC Markets clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews showed that the broker’s clients are mostly satisfied with the company.
IC Markets Trading Company is a great broker for scalping enthusiasts, automated trading lovers, and beginner traders.
Brief Look at IC Markets
IC Markets stands out as a highly reputable broker offering trading with 2,250+ instruments across Forex, stocks, commodities, cryptocurrencies, and more.
The broker provides ultra-fast execution with order speeds up to 40 milliseconds facilitated by its top-tier liquidity partners and processes over $29 billion in Forex trades daily. With a strong focus on active traders, it offers ECN accounts with raw spreads from 0 pips and leverage up to 1:500 (based on which regulator's rules apply to a trader's account). Copy trading is also well-supported through integration with ZuluTrade, cTrader Copy, and other platforms.
IC Markets clients benefit from robust security and regulatory licenses from ASIC, CySEC, and others.
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- Availability of three licenses;
- Wide range of assets;
- Standard and ECN account types for trading on different platforms;
- Mobile apps for Android and iOS-based devices;
- Scalping, hedging, and algorithmic trading are allowed;
- Minimum delay when executing orders and ultra-fast market execution;
- Competitive trading fees;
- Wide choice of social trading and copy trading platforms;
- 24/7 support via live chat;
- Demo accounts on MT4, MT5, and cTrader;
- Swap-free accounts are available for Muslim traders.
- Education materials available on the website are not very informative or diverse;
- Rebates are available outside Australia and the European Economic Area;
- Not all clients are equally protected since compensation for investment is subject to the trader's country of residence.
TU Expert Advice
Author and expert at Traders Union
IC Markets provides access to over 2,250 trading instruments, including Forex, stocks, commodities, and cryptocurrencies. It utilizes MT4, MT5, cTrader, and TradingView platforms, catering to various trading styles with Standard, Raw Spread, and Islamic accounts. The broker features low spreads, fast execution speeds, and leverage up to 1:500, supported by regulatory oversight from ASIC, CySEC, and FSA. With robust security, diverse social and copy trading options, and extensive client support, IC Markets is well-suited for active and algorithmic traders.
Despite its advantages, IC Markets has some drawbacks, such as limited educational resources and a complex fee structure. The broker primarily focuses on CFDs, which may not suit those interested in trading actual assets. Furthermore, various trading conditions depend on the client’s country of residence and the applicable regulatory authority. Overall, IC Markets is a versatile option for experienced traders and those engaged in high-frequency strategies, though beginners may find its educational offerings less comprehensive.
- Speed of execution is critical to you, and you operate round the clock. IC Markets uses the Equinix NY4 server and a fiber-optic network, ensuring order execution as fast as 40 milliseconds. All company clients can obtain a free VPS for 24/7 trading.
- High trading volume and liquidity are important to you. IC Markets has consistently ranked in the top 5 global Forex brokers in terms of trading volume.
- You prefer to work with the actual assets rather than CFDs. The broker primarily offers contracts for difference (CFDs).
We checked the office of the IC Markets brokerage company in Cyprus, which is located at the following address according to the information on the company’s website:
86 Franklinou Roosvelt,4th floor, Office 401, 3011 Omonoia, Limassol, Cyprus
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The company is located at the stated address
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We were able to speak to a company representative
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We were able to visit the office as clients
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Video of the company’s office
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IC Markets Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | MetaTrader 4, MetaTrader 5, TradingView and cTrader |
|---|---|
| 📊 Accounts: | Demo, Standard, Raw Spread and Islamic (Swap Free) |
| 💰 Account currency: | EUR, USD, GBP, CAD, AUD, HKD, NZD, CHF, SGD, and JPY |
| 💵 Deposit / Withdrawal: |
All countries: Wire transfers, Visa, Mastercard, Skrill, PayPal, Neteller, RapidPay, and Klarna; Restricted methods: UnionPay, POLI, Fasapay, BPAY, internet banking (Thailand and Vietnam), WebMoney, and Broker to Broker |
| 🚀 Minimum deposit: | $200 |
| ⚖️ Leverage: |
1:500 (FSA); 1:30 (ASIC and CySEC) |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 EUR/USD spread: | 0,1 pips |
| 🔧 Instruments: | Cryptos and Forex CFDs on indices, commodities, stocks, bonds, and futures |
| 💹 Margin Call / Stop Out: | 50%/100% |
| 🏛 Liquidity provider: | Westpac and National Australia Bank |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Market |
| ⭐ Trading features: |
Scalping and expert advisors; Maximum number of orders is 200 for MT4/MT5; and 2,000 for cTrader. |
| 🎁 Contests and bonuses: |
Rebates for the Global division; Free VPS. |
IC Markets offers high execution speeds due to servers located in New York and London. Trading conditions differ subject to the regulator that supervises the activities of a certain division. For example, clients of IC Markets regulated by CySEC can trade 13 cryptocurrencies 24/5, while clients of ASIC- and FSA-regulated divisions can trade 24/7.
IC Markets clients from all jurisdictions can trade on STP and ECN account types with floating spreads, leverage, and various deposit/withdrawal methods. The company doesn’t have proprietary trading platforms. It offers classic MT4, MT5 and TradingView, as well as a more complicated cTrader. These platforms are available in desktop, web, and mobile versions to ensure the most comfortable trading conditions.
IC Markets Key Parameters Evaluation
Video Review of IC Markets
Trading Account Opening
To reduce expenses on spreads for trading with IC Markets, open a trading account with the broker through the Traders Union website. Registration using the TU referral code allows traders to receive rebates. Below is a detailed description of the procedure.
IC Markets - How to open, deposit and verify a trading account | Firsthand experience of TU
To start registration with the broker, click the “Start Trading Now” button on its website. If the representative office that owns this website doesn’t work with residents of your country, you will receive a warning and will be redirected to the appropriate website.
When opening an account: log in, provide your personal information, choose the account configuration, and upload scans of your documents. Agree to the broker’s terms and conditions. Activate your user account following the instructions from the email sent to you.
The user account offers all the necessary tools to start trading:
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Deposit menu;
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Links to install desktop and mobile trading platforms;
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Section with detailed statistics on trades and monetary transactions.
Regulation and safety
IC Markets has a safety score of 9.9/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Track record over 18 years
- Strict requirements and extensive documentation to open an account
IC Markets Regulators and Investor Protection
| Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
|---|---|---|---|---|
 CySec |
Cyprus Securities and Exchange Commission | Cyprus | Up to €20,000 | Tier-1 |
 ASIC |
Australian Securities and Investments Commission | Australia | No specific fund but has stringent consumer protection | Tier-1 |
 FSA (Seychelles) |
Financial Services Authority of Seychelles | Seychelles | No specific fund | Tier-3 |
 The Financial Commission |
The Financial Commission | International | Up to €20,000 | Tier-3 |
IC Markets Security Factors
| Foundation date | 2007 |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker IC Markets have been analyzed and rated as Low with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, Eightcap and XM Group, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of IC Markets with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, IC Markets’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
IC Markets Standard spreads
| IC Markets | Eightcap | XM Group | |
| EUR/USD min, pips | 0,8 | 0,4 | 0,7 |
| EUR/USD max, pips | 1,0 | 1,5 | 1,2 |
| GPB/USD min, pips | 0,8 | 0,8 | 0,6 |
| GPB/USD max, pips | 1,1 | 1,5 | 1,2 |
RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
IC Markets RAW/ECN spreads
| IC Markets | Eightcap | XM Group | |
| Commission ($ per lot) | 3,5 | 3,5 | 3,5 |
| EUR/USD avg spread | 0,1 | 0,1 | 0,2 |
| GBP/USD avg spread | 0,2 | 0,3 | 0,2 |
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with IC Markets. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
IC Markets Non-Trading Fees
| IC Markets | Eightcap | XM Group | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0 | 0 | 0 |
| Withdrawal fee, USD | 0 | 0 | 0 |
| Inactivity fee ($, per month) | 0 | 0 | 10 |
Account types
The broker offers STP and ECN account types. STP types are the Standard account for MT4, MT5. ECN types is the raw spread account for TradingView and cTrader. All account types are swap-free, which means that they can be transferred into Islamic accounts.
The first step to start trading is to open a trading account.
Spreads are charged.
High execution speeds and tier-1 liquidity.
Spreads are near zero.
Fees per full lot are $7, for MetaTrader platform and $6 for cTrader and TradingView.
No swaps for trading currencies, indices, and metals.
Additional fees of $5-$80 per lot are charged for other instruments.
Before opening a live account, traders can test the broker’s trading conditions on a demo account available on all platforms. Broker’s accounts are also available as a mobile app to make your trading available whenever and wherever you are. If you want to learn how to make money on IC Markets, read the Traders Union article.
IC Markets - How to open a trading account? | Firsthand experience of Alex Smith by Traders Union
Deposit and withdrawal
IC Markets received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
IC Markets provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Low minimum withdrawal requirement
- Supports 5+ base account currencies
- Minimum deposit below industry average
- Bank card deposits and withdrawals
- USDT payments not accepted
- Limited deposit and withdrawal flexibility, leading to higher costs
- BTC not available as a base account currency
What are IC Markets deposit and withdrawal options?
IC Markets provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, PayPal, Skrill, Neteller.
IC Markets Deposit and Withdrawal Methods vs Competitors
| IC Markets | Eightcap | XM Group | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | Yes | Yes | No |
| Wise | No | No | No |
| BTC | No | Yes | Yes |
What are IC Markets base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. IC Markets supports the following base account currencies:
What are IC Markets's minimum deposit and withdrawal amounts?
The minimum deposit on IC Markets is $200, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact IC Markets’s support team.
Markets and tradable assets
IC Markets offers a wider selection of trading assets than the market average, with over 2250 tradable assets available, including 61 currency pairs.
- Indices trading
- Commodity futures are available
- Copy trading platform
- No ETFs
IC Markets Supported markets vs top competitors
We have compared the range of assets and markets supported by IC Markets with its competitors, making it easier for you to find the perfect fit.
| IC Markets | Eightcap | XM Group | |
| Currency pairs | 61 | 40 | 57 |
| Total tradable assets | 2250 | 800 | 1400 |
| Stocks | Yes | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | Yes | Yes | No |
| Stock indices | Yes | Yes | Yes |
| Options | No | No | No |
Investment options
We also explored the trading assets and products IC Markets offers for beginner traders and investors who prefer not to engage in active trading.
| IC Markets | Eightcap | XM Group | |
| Bonds | Yes | No | No |
| ETFs | No | No | No |
| Copy trading | Yes | No | Yes |
| PAMM investing | No | No | No |
| Managed accounts | Yes | No | No |
Trading platforms & tools
IC Markets received a score of 9.9/10, indicating a strong offering in terms of trading platforms and tools. The broker provides broad access to popular platforms and supports a variety of features designed to enhance both manual and automated trading.
- cTrader with advanced tools and Level II pricing
- API access for automated trading
- Trading bots (EAs) allowed
- Trade directly from TradingView
- No access to a proprietary platform
Supported trading platforms
IC Markets supports the following trading platforms: MT4, MT5, cTrader, TradingView, WebTrader. This selection covers the basic needs of most retail traders. We also compared IC Markets’s platform availability with that of top competitors to assess its relative market position.
| IC Markets | Eightcap | XM Group | |
| MT4 | Yes | Yes | Yes |
| MT5 | Yes | Yes | Yes |
| cTrader | Yes | No | No |
| TradingView | Yes | Yes | No |
| Proprietary platform | No | No | No |
| NinjaTrader | No | No | No |
| WebTrader | Yes | Yes | Yes |
Key IC Markets’s trading platform features
We also evaluated whether IC Markets offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.
Supported features
| 2FA | Yes |
| Alerts | Yes |
| Trading bots (EAs) | Yes |
| One-click trading | Yes |
| Scalping | Yes |
| Supported indicators | 80 |
| Tradable assets | 2250 |
Additional trading tools
IC Markets offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.
IC Markets trading tools vs competitors
| IC Markets | Eightcap | XM Group | |
| Trading Central | Yes | No | Yes |
| API | Yes | Yes | Yes |
| Free VPS | Yes | No | No |
| Strategy (EA) builder | Yes | Yes | No |
| Autochartist | Yes | No | No |
Mobile apps
IC Markets supports mobile trading, offering dedicated apps for both iOS and Android. IC Markets received a score of 6.01/10 in this section, indicating a generally acceptable mobile trading experience.
- Strong Android user ratings, currently at 4.7/5
- Indicators supported
- Mobile 2FA not supported
- Weak user feedback on iOS
We compared IC Markets with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.
| IC Markets | XM Group | RoboForex | |
| Total downloads | 500,000 | 10,000,000 | 1,000,000 |
| App Store score | 3.0 | 5.0 | 4.7 |
| Google Play score | 4.7 | 4.8 | 4.7 |
| Mob. 2FA | No | No | Yes |
| Mob. Indicators | Yes | Yes | Yes |
| Mob. Alerts | No | Yes | Yes |
Education
The Education section on the broker’s official website contains the basics of over-the-counter (OTC) trading on the Forex market. Forex glossary is available in the Help & Resources block. The Australian office also has podcasts with their infographic text decoding.
To virtually trade without risking real money, open a demo account on MT4, MT5, or cTrader.
Customer support
Live chat on the broker’s website is available 24/7. Phone calls are available from Sunday 22:00 to Friday 22:00 (GMT) for CFD traders and Monday through Friday from 9:00 to 17:00 (AEDT) for real stock traders from Australia. If you need more information, contact technical support.
Advantages
- Support is available in over 10 languages
- 24/7 live chat
- A call-back option is available
- Many international phone numbers are provided
Disadvantages
- Communication with a bot when launching a live chat
- Chat operators don’t respond to all questions about trading conditions
The following communication channels are available:
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telephone — direct calls or call-back requests;
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live chat on the website or in the user account;
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email;
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Facebook, X, Instagram, and LinkedIn.
Contacts
| Foundation date | 2007 |
|---|---|
| Registration address |
Raw Trading Ltd: Eden Plaza, Office 222, Eden Island, Mahé, Seychelles; IC Markets (EU) Ltd: 86 Franklinou Roosvelt, 4th floor, Office 401, 3011 Omonoia, Limassol, Cyprus; International Capital Markets Pty Ltd: Level 4, 50 Carrington Street, Sydney, NSW 2000, Australia. |
| Regulation | ASIC, CySEC, and FSA |
| Official site | www.icmarkets.com, www.icmarkets.eu, and www.icmarkets.com.au |
| Contacts |
Global: +248 467 19 76, [email protected];
EU: +35725010480, [email protected]; Australia: +61 02 8014 4280, [email protected]. |
Comparison of IC Markets with other Brokers
| IC Markets | Eightcap | XM Group | RoboForex | VT Markets | LiteFinance | |
| Trading platform |
MT4, cTrader, MT5, TradingView | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MetaTrader4, MetaTrader5, VT Markets App, Web Trader+ | MT4, MT5, MultiTerminal, Sirix Webtrader |
| Min deposit | $200 | $100 | $5 | $10 | $50 | $10 |
| Leverage |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:1000 |
| Trust management | No | No | No | No | Yes | Yes |
| Accrual of % on the balance | No | No | No | 10.00% | No | 7.00% |
| Spread | From 0 points | From 0 points | From 0.8 points | From 0 points | From 0 points | From 0.5 points |
| Level of margin call / stop out |
100% / 50% | 80% / 50% | 100% / 50% | 60% / 40% | No / 50% | 50% / 20% |
| Execution of orders | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | Yes | No | Yes |
Detailed Review of IC Markets
IC Markets is a globally recognizable Forex brand. It has three regulatory licenses, it partners with major world banks, and provides tier-1 liquidity. The broker’s clients have access to popular trading platforms and the best analytics. IC Markets constantly expands its range of trading instruments and adds new services and solutions for passive investment in the Forex market.
IC Markets' parent company was registered in Australia in 2007. Since 2018, it’s been authorized to provide its services to traders from the European Economic Area. Currently, IC Markets is available worldwide through its regional offices.
IC Markets is a broker for many strategies and trading styles
IC Markets allows all trading styles that, combined with STP and ECN account types and low fees, enables traders with many strategies for beginners and experiences to close trades with a profit. The broker is suitable for both mid- and short-term strategies, including scalping.
IC Markets doesn’t prohibit the usage of expert advisors for algorithmic trading and ensures high order processing speeds in the ECN network for their efficient work. Liquidity provided by such reputable providers as National Australia Bank (NAB) provides for trading with the best market quotes. Servers located in London LD5 and New York NY4 allow traders to minimize execution delays.
IC Markets allows traders to choose trading platforms convenient for them. They range from the simplest MT4 mobile apps to desktop cTrader and MT5 with advanced analytical tools. The minimum deposit is $200 and the broker’s leverage allows traders to execute trades with larger amounts than they have.
Tools to improve trading efficiency:
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Forex calculators. These tools are used to calculate the exchange rate, pips, fees, and margins;
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Web TV. This tool offers daily updates from the New York Stock Exchange, current technical analysis, and data from Trading Central.
Advantages:
High execution speeds on all platforms provide for both intraday trading and scalping;
No deposit or maintenance fees;
Demo accounts are available on both MetaTrader and cTrader;
Trading fees are average as compared to other top brokers;
Copy trading, algorithmic trading, and investment in real stocks for Australian clients are available;
Webinars and free educational materials for novice traders are provided;
24/7 multilingual technical support;
Free VPS for clients with a monthly trading volume of 15 lots and more.
Latest IC Markets News
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