Quick Summary
| Headquarters | Sydney, Australia |
| Established | 2007 |
| Regulation | ASIC (Australia), CySEC (Cyprus) |
| Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView |
| Instruments | 2,250+ (Forex, Indices, Commodities, Crypto, Stocks, Bonds) |
| Min Deposit | $200 |
| Deposit Methods | Visa, Mastercard, PayPal, Skrill, Neteller, Bank Wire, UnionPay, POLi, BPAY, Crypto |
| Withdrawal Methods | Visa, Mastercard, PayPal, Skrill, Neteller, Bank Wire, UnionPay, Crypto |
| Min Trade Size | 0.01 lots |
| Max Leverage | 1:500 |
| ECN | Yes (Raw Spread & cTrader accounts) |
| EA / Robots | Yes |
| Scalping | Yes |
| Support | 24/7 live chat, email, phone |
Our Rating
Raw ECN spreads from 0.0 pips with execution under 40 ms make IC Markets one of the fastest brokers available.
No requotes and no dealing desk interference — all orders route directly to liquidity providers.
Four major platforms supported: MT4, MT5, cTrader, and TradingView — a lineup matched by very few competitors.
All platforms available on desktop, web, and mobile with full EA and algorithmic trading support.
2,250+ instruments across forex, indices, commodities, crypto, stocks, and bonds — one of the widest ranges in the industry.
60+ forex pairs and 2,100+ stock CFDs give traders access to virtually every major market.
Dual regulation by ASIC ( Licence 335694) and CySEC (Licence 362/18) provides top-tier oversight.
Segregated client funds at top-tier banks and negative balance protection for all retail accounts.
Raw Spread account charges $3.50/lot/side with spreads from 0.0 pips — among the lowest total costs for ECN trading.
Standard account has no commission and spreads from 0.8 pips, competitive for a no-commission account.
24/7 live chat, email, and phone support — one of the few brokers offering true round-the-clock service.
Response times can exceed 10 minutes during peak hours, which is the main area for improvement.
Regulation & Security
Regulatory Entities & License Numbers
| Entity / Regulator | Country | License Number | Status |
|---|---|---|---|
| ASIC | Australia | 335694 | Active |
| CySEC | Cyprus | 362/18 | Active |
Client Fund Protection
Client funds are held in segregated trust accounts at top-tier Australian and European banks, completely separate from IC Markets' operating capital. If the broker were to experience financial difficulties, your deposits would remain protected and recoverable. The broker undergoes regular external audits to verify compliance with fund segregation requirements. SSL encryption protects all data transfers, and two-factor authentication is available for account login.
Negative Balance Protection
Yes — IC Markets provides negative balance protection for all retail clients. This means you can never lose more than your total deposit, even during extreme market volatility or gap events. Under ASIC and CySEC regulations, negative balance protection is mandatory for retail accounts.
Bonuses & Promotions
IC Markets does not offer welcome bonuses, deposit bonuses, or cashback programs. This is a deliberate choice: the broker believes that consistently low trading costs (raw spreads, low commissions, no hidden fees) provide more sustainable value to serious traders than one-time promotional offers. The philosophy is that bonuses often come with restrictive volume requirements that lock your funds, whereas IC Markets lets you withdraw at any time without conditions. The broker does occasionally run trading competitions with cash prizes and offers a reduced commission rate for high-volume clients trading 30+ round lots per month.
Account Types Comparison
| Account | Min Deposit | Spread | Commission | Leverage | Platform | Best For |
|---|---|---|---|---|---|---|
| Standard | $200 | From 0.8 pips | None | 1:500 | MT4, MT5 | Beginners and casual traders who prefer all costs in the spread |
| Raw Spread (MT4/MT5) | $200 | From 0.0 pips | $3.50/lot/side | 1:500 | MT4, MT5 | Scalpers and EA traders who need the tightest spreads |
| cTrader Raw | $200 | From 0.0 pips | $3.50/lot/side | 1:500 | cTrader | ECN traders who prefer cTrader's Level II pricing and interface |
| Islamic (Swap-Free) | $200 | From 0.0 pips | $3.50/lot/side | 1:500 | MT4, MT5, cTrader | Traders requiring Sharia-compliant accounts with no overnight swap |
| Demo | Free | Real-time | Simulated | Up to 1:500 | MT4, MT5, cTrader | Practising strategies risk-free with no time limit |
Trading Conditions
IC Markets offers two pricing models. The Standard account has no commission and spreads from 0.8 pips on EUR/USD, suitable for beginners and swing traders. The Raw Spread account charges $3.50 per lot per side but delivers true ECN spreads from 0.0 pips, making it one of the cheapest options for high-volume traders — the total round-turn cost on EUR/USD averages $7-9 including commission. Maximum leverage is 1:500 for retail clients under ASIC, and up to 1:1000 for professional clients under the FSA Seychelles entity. Scalping, hedging, and Expert Advisors are all fully supported with no restrictions. Execution is market-order only with no requotes — orders fill at the best available price from the liquidity pool. Spreads are variable and can widen during major news events such as NFP or central bank rate decisions, which is standard for ECN pricing.
Overnight Swap (Rollover) Fees
Overnight swap (rollover) fees apply on all accounts except Islamic (swap-free) accounts. Swap rates are published daily on the IC Markets website and vary by instrument. Triple swap is charged on Wednesdays for forex pairs to account for weekend rollover. Islamic accounts are available on all account types and charge no swap on overnight positions, making them suitable for traders who hold positions long-term and want to comply with Sharia finance principles.
Deposits & Withdrawals
IC Markets supports one of the widest ranges of payment methods in the industry. Deposits via Visa, Mastercard, PayPal, Skrill, Neteller, POLi, and BPAY are typically instant with no deposit fees from the broker. UnionPay is available for Asian clients. Bank wire deposits take 1-3 business days. Cryptocurrency deposits (Bitcoin, USDT) are also supported and usually process within minutes. There is no maximum deposit limit, but individual payment methods may have their own caps.
Withdrawals return via your original deposit method for security and anti-money-laundering compliance. E-wallet withdrawals (PayPal, Skrill, Neteller) are the fastest — often processed within hours. Card withdrawals take 3-5 business days. Bank wires take 2-5 business days depending on your location. Crypto withdrawals are typically processed within hours. IC Markets charges no withdrawal fees, though your bank or payment provider may apply their own charges. Withdrawal requests submitted on weekends or public holidays are processed on the next business day.
Deposit Methods
Withdrawal Methods
KYC (Know Your Customer) Requirements
KYC (Know Your Customer) verification is required before your first withdrawal. You must submit a government-issued photo ID (passport, driver's licence, or national ID) and a proof of address (utility bill or bank statement dated within the last 6 months). Verification typically takes 1-2 business days. IC Markets uses an automated document verification system that can approve many submissions within hours.
Trading Platforms
MetaTrader 4 (MT4)
Features
Full support for Expert Advisors (EAs), custom indicators via MQL4, 30+ built-in indicators, 9 timeframes, strategy backtester, one-click trading. Available on Windows, Mac, Web, iOS, and Android.
Limitations
MT4 is forex-focused and does not support multi-asset trading (no stocks or bonds). The interface is dated compared to newer platforms. MQL4 EAs are not compatible with MT5.
MetaTrader 5 (MT5)
Features
Multi-asset support (forex, stocks, indices, commodities, crypto), 21 timeframes, 80+ built-in indicators, Depth of Market (DOM), economic calendar, MQL5 programming, advanced strategy tester with multi-currency support. Available on Windows, Mac, Web, iOS, and Android.
Limitations
MQL5 EAs are not backward-compatible with MT4. Some advanced charting features require third-party plugins that IC Markets does not include by default.
cTrader
Features
Level II pricing (depth of market), cAlgo for algorithmic trading using C#, cCopy for copy trading, advanced charting with 50+ indicators, multiple order types (market, limit, stop, stop-limit), one-click trading, detached charts. Available on Windows, Mac, Web, iOS, and Android.
Limitations
Fewer custom indicators available compared to MT4/MT5 ecosystem. cAlgo requires C# knowledge, which is less common than MQL among forex traders.
TradingView
Features
Web-based charting with no download required, Pine Script custom indicators, social trading community, 100+ pre-built indicators, multi-chart layouts, real-time alerts, integration with IC Markets for direct trading from charts.
Limitations
TradingView integration does not support EA/algorithmic trading. Some advanced order types available on MT4/MT5 are not available through the TradingView integration.
Mobile App
Features
Full-featured mobile trading on iOS and Android for MT4, MT5, and cTrader. Real-time quotes, charting, order management, push notifications, and account management. One-tap switching between accounts.
Limitations
Mobile charting is more limited than desktop. Complex EA management is not practical on mobile. cTrader mobile does not support cAlgo.
Instruments & Markets
| Asset Class | Count | Examples |
|---|---|---|
| Forex | 60+ pairs | EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CAD, USD/CHF, NZD/USD (majors); EUR/GBP, EUR/JPY, GBP/JPY, AUD/JPY (minors); USD/ZAR, USD/TRY, USD/MXN (exotics) |
| Indices | 20+ indices | US30 (Dow Jones), NAS100 (Nasdaq), SPX500 (S&P 500), GER40 (DAX), UK100 (FTSE), AUS200 (ASX 200), JPN225 (Nikkei), HK50 (Hang Seng) |
| Commodities | 20+ instruments | Gold (XAU/USD), Silver (XAG/USD), WTI Crude Oil, Brent Crude Oil, Natural Gas, Copper, Platinum, Palladium, Wheat, Corn, Coffee, Sugar |
| Crypto | 21 cryptocurrencies | Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD), Litecoin (LTC/USD), Bitcoin Cash (BCH/USD), Cardano (ADA/USD), Solana (SOL/USD) |
| Stocks | 2,100+ stock CFDs | Apple (AAPL), Microsoft (MSFT), Tesla (TSLA), Amazon (AMZN), Google (GOOGL), Meta (META), JPMorgan (JPM) — US; BHP, CBA, CSL — ASX; HSBC, BP — LSE |
| Bonds | 9+ bond instruments | US 10-Year Treasury Note, US 30-Year Treasury Bond, UK 10-Year Gilt, German 10-Year Bund, Japanese 10-Year JGB, Australian 10-Year Bond |
Trading Tools
VPS Hosting
Free VPS available for accounts maintaining $5,000+ balance and trading 30+ round lots per month. VPS ensures 24/7 EA uptime with sub-1ms latency to IC Markets servers. Paid VPS options available for smaller accounts.
Expert Advisors (EAs)
Full EA support on MT4, MT5, and cTrader (via cAlgo). No restrictions on EA trading styles, strategies, or frequency. EAs can run on VPS for 24/7 operation.
API Access
cTrader Open API allows developers to build custom trading applications, access market data, and automate trading via REST and FIX protocols. MT4/MT5 also support API access via MQL.
Analysis Tools
TradingView integration provides access to 100+ technical indicators and drawing tools. cTrader includes built-in sentiment indicators and depth-of-market analysis. MT4/MT5 offer standard charting tools.
Depth of Market (DOM)
Available on cTrader and MT5. Shows Level II pricing with available liquidity at different price levels, allowing traders to see the order book and gauge market depth.
Education & Research
IC Markets provides a basic educational section on its website, including trading guides, video tutorials, and a glossary of forex terms. However, the educational offering is relatively limited compared to brokers that specialise in beginner education like XM or AvaTrade. There are no regular live webinars or structured trading courses. The broker does offer a comprehensive demo account with no time limit, which is the primary way new clients familiarise themselves with the platforms. For experienced traders who already know how to trade, the lack of educational content is not a drawback — but beginners may need to supplement with external resources.
Customer Support
IC Markets offers 24/7 customer support via live chat, email ([email protected]), and phone. The 24/7 availability is a significant advantage over most competitors who only offer 24/5 support. Support is available in English, Chinese, and several other languages. Live chat response times are typically under 5 minutes during off-peak hours but can extend to 10+ minutes during peak trading hours (London/NY overlap). Email responses are usually received within 4-8 hours. Phone support is available via Australian and international numbers. The support team is generally knowledgeable about technical platform issues and account queries, though complex regulatory or compliance questions may be escalated.
Awards & Recognition
IC Markets has received numerous industry awards over the years, though we have not independently verified every award. The following awards are based on publicly available information from the broker's website and industry publications. Some awards may be from sponsored or less rigorous awarding bodies — readers should interpret them accordingly.
Pros
- True ECN pricing with raw spreads from 0.0 pips on the Raw Spread account
- Execution speeds consistently under 40 ms with no requotes
- Four major platforms: MT4, MT5, cTrader, and TradingView
- 2,250+ instruments across 6 asset classes including 2,100+ stock CFDs
- Dual tier-1 regulation: ASIC (Licence 335694) and CySEC (Licence 362/18)
- 24/7 customer support via live chat, email, and phone — rare in the industry
- Free VPS for accounts maintaining $5,000+ balance and 30+ round lots/month
- No withdrawal fees and no hidden charges
- All trading styles allowed: scalping, hedging, and EAs fully supported
- Islamic (swap-free) accounts available on all account types
Cons
- No welcome or deposit bonuses — may deter bonus-focused traders
- $200 minimum deposit is higher than beginner-friendly brokers like XM ($5) or Exness ($1)
- Customer support response times can exceed 10 minutes during peak hours
- Limited educational resources compared to competitors like XM or AvaTrade
- Inactivity fee of $15/month applied after 12 months of no trading activity
- Standard account spreads (from 0.8 pips) are wider than some competitors
IC Markets vs Pepperstone & FP Markets
| Feature | IC Markets | Pepperstone | FP Markets |
|---|---|---|---|
| Trust Score | 93 | 91 | 91 |
| Overall Rating | 4.0/5 | 4.3/5 | 4.3/5 |
| Min Deposit | $200 | $200 | $100 |
| Spread From | 0.0 pips | 0.0 pips | 0.0 pips |
| Commission | $3.50/lot/side | $3.50/lot/side | $3/lot/side |
| Max Leverage | 1:500 | 1:500 | 1:500 |
| Platforms | MT4, MT5, cTrader, TradingView | MT4, MT5, cTrader, TradingView | MT4, MT5, Iress, TradingView |
| Instruments | 2,250+ | 1,200+ | 10,000+ |
| Regulation | ASIC, CySEC | ASIC, FCA, CySEC, DFSA | ASIC, CySEC, FSCA |
| Support | 24/7 | 24/5 | 24/5 |
Frequently Asked Questions
Final Verdict
IC Markets is a top-tier ECN broker that excels at what it set out to do: provide serious traders with the tightest spreads, fastest execution, and most transparent pricing in the industry. With ASIC and CySEC regulation, 2,250+ instruments, four major platforms, and 24/7 support, it is a comprehensive solution for active traders. The $200 minimum deposit and lack of bonuses may not appeal to absolute beginners, but for scalpers, day traders, and algorithmic traders who prioritise execution quality and low costs, IC Markets is one of the best choices available. Our overall score of 92/100 reflects its position as an industry leader.
Risk Warning: Trading forex and CFDs involves significant risk and may not be suitable for all investors. Leverage magnifies both gains and losses. Never trade with funds you cannot afford to lose. Past performance is not indicative of future results. The information on this page is for educational purposes only and does not constitute financial advice.
User Reviews & Ratings
Rating Summary
Based on 9 reviews
Write a Review
Trader Reviews (9)
Professional trader perspective after 3 years
I have been with IC Markets for 3 years running a systematic strategy on MT5. The cTrader Raw account is my primary — Level II pricing is essential for my order management. Execution averages 25-35ms which is industry-leading. My only complaint is the lack of a proper API for custom integrations outside of cTrader Open API. The MT4/MT5 API is limited compared to what I had at my previous institutional broker.
Industry-leading 25-35ms execution and essential Level II pricing
MT4/MT5 API is limited for custom integrations
Switched from another broker and never looked back
I moved to IC Markets 6 months ago from a market maker broker that was constantly requoting my orders. The difference is incredible — zero requotes, raw spreads, and my EAs run perfectly on the free VPS. The $200 deposit was worth every cent. I only trade EUR/USD and GBP/USD during the London session and spreads are consistently 0.0-0.3 pips.
Zero requotes and perfect EA execution on free VPS
$200 minimum deposit is higher than some competitors
Inactivity fee caught me off guard
I was happy with IC Markets for about a year but then took a break from trading for 14 months due to personal reasons. When I came back, I found they had been charging $15/month inactivity fee which ate into my balance. There was no email notification about this. The broker itself is good for active trading but be aware of the inactivity policy.
Good broker for active trading with reliable execution
$15/month inactivity fee with no email notification
Good broker but crypto spreads could be tighter
IC Markets is solid for forex but I primarily trade crypto CFDs and the spreads on Bitcoin and Ethereum are wider than dedicated crypto exchanges. BTC/USD spread is often 20-30 dollars which is significant. That said, the platform is reliable, withdrawals are fast, and ASIC regulation gives me peace of mind. I just wish crypto pricing was more competitive.
Reliable platform, fast withdrawals, ASIC regulation gives peace of mind
Crypto CFD spreads are wider than dedicated crypto exchanges
Great for multi-asset trading
I use IC Markets for forex and stock CFDs. Having 2,100+ stocks and 60+ forex pairs in one account is very convenient. Spreads on EUR/USD are consistently 0.0-0.2 pips on the Raw account. The TradingView integration is nice but limited — no EA support through it. Withdrawals via PayPal are processed within a few hours. Would recommend for serious traders.
2,100+ stocks and 60+ forex pairs in one account, fast PayPal withdrawals
TradingView integration has no EA support
Best ECN broker for algorithmic trading
I run 12 EAs on IC Markets Raw Spread account via their free VPS. Execution is consistently under 40ms and I have never had a requote in 18 months. The cTrader platform is my favourite for manual trading — Level II pricing is incredibly useful. The $200 minimum deposit is reasonable for the quality you get. Only complaint is that support can be slow during the London/New York overlap.
Execution consistently under 40ms, never a requote, free VPS
Support slow during London/NY overlap
Great spreads but support could be better
IC Markets offers some of the tightest spreads I have seen, especially on the Raw Spread account. The range of instruments is impressive with over 2000 CFDs. My main gripe is customer support — live chat responses can take 10+ minutes during peak hours. Also, the lack of a welcome bonus is a downside for new traders just starting out. Overall a solid choice if you prioritize execution quality over customer service.
Tightest spreads I have seen, 2000+ CFDs available
Live chat responses can take 10+ minutes during peak hours
Best broker for scalping and EAs
I have been using IC Markets for over 2 years now, primarily for scalping on the Raw Spread account. The execution speed is consistently under 40ms and spreads on EURUSD during London hours are genuinely 0.0-0.2 pips. cTrader is my preferred platform and it runs flawlessly. Withdrawals via Skrill are processed within hours. The commission of $3.50 per side is fair for true ECN pricing. Highly recommend for active traders.
Spreads genuinely 0.0-0.2 pips on EURUSD during London hours
Commission of $3.50/side adds up for very high volume
Excellent ECN execution
Been trading with IC Markets for over a year. The raw spread account gives me true ECN pricing with spreads starting at 0.0 pips. Execution is lightning fast and withdrawals are processed same day. Highly recommended for serious traders.
True ECN pricing with 0.0 pip spreads and lightning-fast execution
No welcome bonus for new traders