IC Markets has built a reputation as one of the most competitive low-cost brokers in the forex and CFD industry. Founded in 2007 in Sydney, Australia, the broker has grown to serve hundreds of thousands of traders worldwide, processing billions of dollars in daily trading volume. In this comprehensive IC Markets review for 2026, we examine the broker’s regulation, trading conditions, platforms, and overall value proposition to help you decide if it’s the right fit for your trading needs.

IC Markets Overview

IC Markets was established in 2007 and is headquartered in Sydney, Australia. The broker has expanded its global footprint significantly, now operating under multiple regulatory jurisdictions to serve clients across different regions.

Key Facts:

  • Founded: 2007
  • Headquarters: Sydney, Australia
  • Regulators: ASIC (Australia), CySEC (Cyprus), FSA (Seychelles), SCB (Bahamas)
  • Trading Instruments: 2,100+ including forex, stocks, commodities, indices, and cryptocurrencies
  • Platforms: MetaTrader 4, MetaTrader 5, cTrader

IC Markets is widely regarded as a broker that caters to active traders and scalpers, thanks to its institutional-grade liquidity and razor-thin spreads. The broker’s execution model is based on Electronic Communication Network (ECN) technology, connecting traders directly to liquidity providers for faster fills and transparent pricing.

Regulation and Safety

When evaluating any broker, regulation should be your first consideration. IC Markets holds licenses from several respected regulatory bodies:

  • ASIC (Australian Securities and Investments Commission): AFSL 335692 — This is IC Markets’ primary regulator and one of the most respected financial authorities globally. ASIC-regulated entities must maintain strict capital adequacy requirements and adhere to rigorous reporting standards.

  • CySEC (Cyprus Securities and Exchange Commission): License 362/18 — Allows IC Markets to operate within the European Economic Area under MiFID II regulations, providing negative balance protection and investor compensation coverage.

  • FSA Seychelles (SD018) and SCB Bahamas: These offshore registrations allow IC Markets to offer higher leverage and more flexible trading conditions to international clients outside of Australia and Europe.

The multi-jurisdictional regulatory framework means that traders are assigned to the entity appropriate for their region. European clients are covered by CySEC’s investor protection schemes, while international clients can access higher leverage through the FSA or SCB entities.

Account Types

IC Markets offers three distinct account types, each designed to suit different trading preferences and experience levels:

Standard Account (mt4/mt5)

The Standard Account is ideal for beginners or traders who prefer a simple, commission-free pricing structure. Spreads start from 0.6 pips on major pairs like EUR/USD, with no per-lot commission charged. This makes it straightforward to calculate trading costs.

  • Commission: None
  • Typical EUR/USD Spread: 0.6–0.8 pips
  • Minimum deposit: $200
  • Platforms: MetaTrader 4, MetaTrader 5

Raw Spread Account (MT4/MT5)

The Raw Spread Account on MetaTrader platforms is IC Markets’ most popular offering among active traders. It provides direct market access with spreads starting from 0.0 pips, offset by a transparent commission structure.

  • Commission: $3.50 per lot per side ($7 round turn)
  • Typical EUR/USD Spread: 0.0–0.1 pips
  • Minimum Deposit: $200
  • Platforms: MetaTrader 4, MetaTrader 5

Raw Spread Account (cTrader)

For traders who prefer the cTrader platform, IC Markets offers a slightly lower commission structure. The cTrader Raw Spread account provides the same institutional-grade liquidity with an even more competitive fee schedule.

  • Commission: $3.00 per lot per side ($6 round turn)
  • Typical EUR/USD Spread: 0.0–0.1 pips
  • Minimum Deposit: $200
  • Platform: cTrader

All account types offer access to the full range of 2,100+ trading instruments, negative balance protection, and no deposit or withdrawal fees.

Trading Conditions

Spreads and Commissions

IC Markets’ pricing is one of its strongest selling points. The broker connects to over 25 liquidity providers, enabling it to offer some of the tightest spreads in the industry. On the Raw Spread account, EUR/USD spreads average around 0.0–0.1 pips, making the all-in cost (including commission) highly competitive.

For the Standard account, spreads on EUR/USD typically range from 0.6 to 0.8 pips. While wider than the Raw Spread offering, this remains competitive compared to many commission-free brokers.

Leverage

Leverage varies depending on the regulatory entity your account falls under:

  • ASIC clients (Australia): Up to 1:30
  • CySEC clients (Europe): Up to 1:30
  • FSA Seychelles clients: Up to 1:1000
  • SCB Bahamas clients: Up to 1:500

The leverage offered on different instrument classes also varies. Forex majors can access the maximum leverage available under your entity, while indices typically go up to 1:200, commodities up to 1:500, and cryptocurrencies up to 1:200.

Minimum Deposit

IC Markets requires a minimum deposit of $200 across all account types. While not the lowest in the industry, this is reasonable and ensures traders have sufficient margin to manage positions effectively.

Execution Speed

IC Markets averages execution speeds under 40 milliseconds, which is impressive for a retail broker. The ECN model ensures that orders are filled at the best available prices from the liquidity provider pool, with minimal slippage even during volatile market conditions.

Trading Platforms

IC Markets supports three industry-leading platforms, giving traders flexibility in how they access the markets.

MetaTrader 4 (MT4)

MT4 remains the most widely used forex trading platform globally. IC Markets’ MT4 offering includes:

  • Advanced charting with 30+ built-in indicators
  • Expert Advisors (EAs) for automated trading
  • One-click trading
  • Customizable interface
  • Access to the MQL5 marketplace for additional tools and signals

MetaTrader 5 (MT5)

MT5 builds on MT4’s foundation with additional features:

  • 21 timeframes (compared to MT4’s 9)
  • Economic calendar integrated into the platform
  • Depth of Market (DOM) display
  • Additional order types
  • Hedging and netting capabilities
  • Access to more markets including stocks and futures CFDs

cTrader

cTrader is a modern platform favored by many professional traders and scalpers:

  • Clean, intuitive interface
  • Level II pricing with full market depth
  • cBots for algorithmic trading (similar to EAs)
  • Advanced charting with 70+ indicators
  • Detachable charts and multi-monitor support
  • Cloud-based watchlists and templates

All three platforms are available on desktop, web, and mobile (iOS and Android), ensuring traders can manage their positions from anywhere.

Product Range

IC Markets offers an extensive selection of trading instruments:

  • Forex: 61+ currency pairs including majors, minors, and exotic pairs
  • Stocks CFDs: 2,100+ stocks from major exchanges including NYSE, NASDAQ, London Stock Exchange, and more
  • Indices: 25+ global indices including S&P 500, NASDAQ 100, FTSE 100, and DAX 40
  • Commodities: 23+ commodities including gold, silver, crude oil, and agricultural products
  • Cryptocurrencies: 10+ cryptocurrency CFDs including Bitcoin, Ethereum, Litecoin, and Ripple
  • Bonds: Government bonds from major economies

The breadth of instruments makes IC Markets suitable for traders who want to diversify across multiple asset classes from a single account.

Deposits and Withdrawals

IC Markets supports a variety of funding methods:

  • Bank wire transfer
  • Credit/debit cards (Visa, Mastercard)
  • PayPal
  • Skrill
  • Neteller
  • UnionPay (for Chinese clients)
  • BPay (for Australian clients)

The broker does not charge fees on deposits or withdrawals. Processing times vary by method, with e-wallets typically processed within 24 hours and bank transfers taking 2–5 business days.

Customer Support

IC Markets provides 24/7 customer support through multiple channels:

  • Live Chat: Available directly on the website with fast response times
  • Email Support: [email protected]
  • Phone Support: Available in multiple languages
  • Help Center: Comprehensive FAQ and knowledge base

Customer support is available in English, Chinese, Spanish, and several other languages. The broker has generally received positive feedback for its support responsiveness, though some traders have noted that response times can increase during peak market hours.

Pros and Cons

Pros

  • Ultra-low spreads: Raw Spread accounts offer some of the tightest pricing in the industry, with EUR/USD averaging 0.0–0.1 pips
  • Multiple platforms: MT4, MT5, and cTrader provide options for every trading style
  • Strong regulation: ASIC and CySEC oversight provides a high level of trust and security
  • Fast execution: Average execution under 40 milliseconds with ECN model
  • Wide instrument range: 2,100+ instruments across forex, stocks, indices, commodities, and crypto
  • No deposit/withdrawal fees: Keeps overall trading costs down
  • Scalping and hedging allowed: No restrictions on trading strategies

Cons

  • Higher minimum deposit: $200 may be steep for absolute beginners
  • Leverage limits for regulated entities: ASIC and CySEC clients are capped at 1:30
  • No proprietary platform: Relies entirely on third-party platforms
  • Limited educational resources: Compared to some competitors, the educational offering is not as comprehensive
  • Offshore entity reliance for high leverage: Traders wanting leverage above 1:30 must use the FSA or SCB entities

IC Markets vs Competitors

When compared to other leading brokers, IC Markets consistently ranks among the best for raw spread pricing. While brokers like Pepperstone offer similar ECN-style execution, IC Markets’ larger liquidity pool often results in slightly tighter spreads during peak trading hours. Traders who prioritize platform variety and low costs will find IC Markets hard to beat.

For those exploring alternative low-cost brokers, [uzfx](/en/posts/uzfx-review-2026/) also offers competitive trading conditions with a focus on emerging market currencies and multi-asset trading, making it worth considering alongside IC Markets depending on your specific trading needs.

If you’re looking for a broader comparison, check out our Interactive Brokers review for a look at a broker that caters more to professional and institutional traders.

Who Is IC Markets Best For?

IC Markets is particularly well-suited for:

  • Scalpers and day traders who need ultra-tight spreads and fast execution
  • Algorithmic traders who want to run Expert Advisors or cBots on robust platforms
  • Intermediate to advanced traders comfortable with a $200 minimum deposit
  • Multi-asset traders who want access to forex, stocks, indices, and crypto from one account
  • Australian and international traders looking for a well-regulated broker with competitive pricing

Beginners may find the Standard Account a good starting point, though the $200 minimum deposit and somewhat limited educational resources might push complete newcomers toward brokers with more hand-holding and lower entry barriers.

Frequently Asked Questions

Is IC Markets a legitimate broker?

Yes, IC Markets is a legitimate broker regulated by ASIC (Australia), CySEC (Cyprus), FSA (Seychelles), and SCB (Bahamas). It has been operating since 2007 and is one of the largest retail forex brokers globally by trading volume.

What is the minimum deposit for IC Markets?

The minimum deposit for all IC Markets account types is $200. This applies to Standard, Raw Spread (MT4/MT5), and Raw Spread (cTrader) accounts.

Does IC Markets accept US clients?

No, IC Markets does not accept clients from the United States. US-based traders should consider brokers regulated by the CFTC and NFA.

What is the typical EUR/USD spread on IC Markets?

On the Raw Spread account, EUR/USD spreads average 0.0–0.1 pips (plus a $7 per lot round-turn commission on MT4/MT5 or $6 on cTrader). On the Standard account, EUR/USD spreads average 0.6–0.8 pips with no commission.

Does IC Markets offer negative balance protection?

Yes, IC Markets provides negative balance protection on all account types, ensuring that traders cannot lose more than their account balance.

Disclaimer: Trading forex and CFDs involves significant risk of loss and is not suitable for all investors. Past performance is not indicative of future results. Please ensure you fully understand the risks involved before trading.

Recommended Broker: Visit UZFX Official Website