IC Markets Review

Overview

IC Markets is a Sydney-founded forex and CFD broker that launched in 2007 and grew into one of the best-known names among scalpers, algorithmic traders and anyone who wants raw interbank-style pricing on MetaTrader or cTrader. In 2026 the group began presenting itself under a shorter, unified brand, simply "IC", and its global website now lives at ic.com. The legal entities behind the brand did not change, so clients still contract with a specific regulated company depending on where they live.

The broker's identity has always been built around low trading costs and execution. Its trade servers are located in the NY4 and LD5 data centres in New York and London, and it says it aggregates prices from more than 25 liquidity providers.

Regulation and safety

IC Markets operates through several companies, each with its own licence:

• International Capital Markets Pty Ltd – regulated by ASIC in Australia, AFSL 335692. Client trust accounts are held with National Australia Bank, and the firm is a member of AFCA.
• IC Markets (EU) Ltd – authorised by CySEC in Cyprus, licence 362/18, serving European clients under MiFID II, with Investor Compensation Fund cover up to €20,000.
• Raw Trading Ltd – trading as IC and IC Markets Global, licensed by the Financial Services Authority of Seychelles, securities dealer licence SD018. Most clients outside Australia and the EU are served here.

The record is not spotless. In July 2024 CySEC fined IC Markets (EU) Ltd €200,000, saying the company had taken part in activities that circumvented the EU's retail CFD margin rules, and noted a similar breach in 2021. Later in 2024 CySEC imposed a further €50,000 fine over best-execution and cost-disclosure failings. IC Markets disputed both decisions. In October 2024 the UK FCA also added IC Markets Global to its warning list, stating that the offshore entity was not authorised to target UK residents. US residents are not accepted.

Fees and costs

Pricing is where IC Markets stands out. On the commission-free Standard account, independent testing puts the average EUR/USD spread around 0.8 pips. The Raw Spread account quotes EUR/USD from 0.0 pips, with published averages near 0.1 pips or lower, plus a commission:

• MetaTrader Raw Spread: $3.50 per standard lot per side ($7 round turn)
• cTrader and TradingView Raw Spread: $3 per $100,000 traded per side

Commissions apply only to forex and metals; other CFDs are priced through the spread. Bank wire withdrawals carry a fee of around 20 AUD, while e-wallet withdrawals such as PayPal, Skrill and Neteller are free. Independent reviewers also report an inactivity fee after six months without trading.

Accounts and products

The core line-up is simple: Standard (spread-only), Raw Spread on MetaTrader, Raw Spread on cTrader and TradingView, and swap-free Islamic versions. Reviewers report that the IC brand has also added lower-commission tiers such as Raw Pro for high-volume traders. Trade sizes start from a micro lot of 1,000 units and go up to 200 lots per order.

Leverage depends heavily on the entity. Retail clients of the ASIC and CySEC companies face the usual 1:30 cap on major currency pairs. The Seychelles entity advertises flexible leverage from 1:1 up to 1:5000, adjusted dynamically and subject to change, which is extraordinarily high and suitable only for traders who fully understand margin risk.

The range covers forex, commodities, indices, bonds, crypto CFDs, share CFDs and futures CFDs. The EU entity lists thousands of symbols in total, including more than 60 currency pairs, although everything is offered as a derivative rather than as an underlying asset.

Platforms and tools

IC Markets does not build its own trading platform. Instead it supports MetaTrader 4, MetaTrader 5, cTrader and TradingView, plus a WebTrader and mobile apps. This makes it a natural home for Expert Advisor users and cTrader Automate developers, and its server locations favour latency-sensitive strategies.

Copy and social trading are available through several third-party services: IC Social, cTrader Copy, ZuluTrade and Signal Start. Research is spread across a blog, a market-analysis portal and video content; there are no structured courses, and order types such as guaranteed stops are not offered.

Deposits and withdrawals

Funding options vary by entity but include bank wire, credit and debit cards, PayPal, Skrill, Neteller, UnionPay, BPAY, POLi and FasaPay, with reviewers also noting Apple Pay, Google Pay and crypto on some entities. Accounts can be held in nine major base currencies, which helps avoid conversion charges. No minimum deposit is enforced to open an account, though IC suggests starting with around $200.

Who it suits

IC Markets suits cost-conscious, active traders: scalpers, EA and cBot users, and anyone who wants raw spreads on MetaTrader, cTrader or TradingView. Australians and Europeans benefit from tier-one supervision. It is less suitable for beginners who want a proprietary all-in-one app or structured education, investors seeking real shares, and residents of the UK or US.

Verdict

IC Markets offers some of the lowest all-in forex costs in the industry, broad platform choice and solid funding flexibility, backed by ASIC and CySEC licences. The CySEC fines of 2024 and the very high leverage on the Seychelles entity are reminders to check which company holds your account. For details, see the official IC website.