Quick Verdict
| Overall Score | 8.8 / 10 |
| Regulation | ASIC 335692, CySEC 362/18, FSA Seychelles SD018, SCB Bahamas SIA-F214 |
| Best For | Active forex and CFD traders who want raw spreads, MT4, MT5, cTrader, TradingView, and strong execution infrastructure |
| Min. Deposit | $0 on the current IC Markets Global account overview, region dependent |
| Spreads From | 0.0 pips on Raw Spread accounts, with average EUR/USD spread listed at 0.1 pips |
| Max Leverage | Up to 1:1000 on some global accounts, lower under ASIC and CySEC retail rules |
| Platforms | MT4, MT5, cTrader, TradingView, WebTrader, mobile apps |
| Deposit Methods | Bank transfer, cards, PayPal, Skrill, Neteller, and other regional methods |
| Withdrawal Speed | Usually processed within 1 working day, with bank transfers often taking 3 to 5 working days |
| Verdict | IC Markets is one of the strongest brokers for raw-spread forex and CFD trading, especially for scalpers, day traders, and automated strategy users. The platform lineup is excellent and pricing is highly competitive. The main cautions are entity-level protection, past CySEC fines, and current Australian class-action allegations linked to CFD trading. |
IC Markets Review: Our Take
IC Markets is a regulated forex and CFD broker known for raw spreads, low-latency execution, MetaTrader, cTrader, and TradingView support. It is one of the better choices for active traders who care about pricing and platform flexibility more than a beginner-style app experience. The broker’s current global account overview lists Raw Spread, cTrader Raw Spread, and Standard accounts, with Raw Spread pricing from 0.0 pips and the average EUR/USD spread stated at 0.1 pips.
From a regulation perspective, IC Markets has a stronger structure than offshore-only brokers. The group includes an ASIC-regulated Australian entity, a CySEC-regulated EU entity, a Seychelles FSA-regulated global entity, and a Bahamas SCB-regulated entity. That said, the protection level depends on which entity holds the account. Global clients trading through the Seychelles entity do not receive the same protection as clients under the ASIC or CySEC entities.
Our view is that IC Markets is one of the strongest brokers for serious forex and CFD trading conditions, but not a perfect trust story. Its pricing and platform stack are hard to beat, yet its regulatory history includes CySEC fines in 2024, and there are Australian class-action allegations related to CFD trading risks. Those issues do not cancel out the broker’s strengths, but they keep the score below the very top tier.
What Is IC Markets?
IC Markets is an Australian-founded forex and CFD broker operating since 2007. The Australian site describes IC Markets as an online trading company operating since 2007, while global materials position the broker around bridging the gap between retail and institutional-style trading conditions.
The broker is best known for low-cost CFD trading. It offers access to forex, indices, commodities, stocks CFDs, bonds, futures CFDs, and cryptocurrency CFDs through a platform lineup that includes MT4, MT5, cTrader, TradingView, WebTrader, and mobile apps. IC Markets is especially popular among scalpers, algorithmic traders, and traders who want raw pricing rather than a wide-spread standard account only.
IC Markets is not mainly an investing app or long-term stock platform. It is a CFD-first broker built around leverage, execution speed, institutional-style pricing, and platform choice. That makes it more comparable to FP Markets, Pepperstone, Vantage, and Tickmill than brokers such as XTB or eToro.
Is IC Markets Regulated? Safety & Licences
Regulatory Licences
| Regulator | Jurisdiction | Licence Number | Verified |
|---|---|---|---|
| Australian Securities and Investments Commission | Australia | AFSL 335692 | Yes |
| Cyprus Securities and Exchange Commission | Cyprus / EU | 362/18 | Yes |
| Financial Services Authority Seychelles | Seychelles | SD018 | Yes |
| Securities Commission of The Bahamas | Bahamas | SIA-F214 | Yes |
IC Markets is regulated across several entities. The Australian entity, International Capital Markets Pty Ltd, holds AFSL 335692 issued by ASIC. The EU entity, IC Markets (EU) Ltd, is regulated by CySEC under licence 362/18. The global entity, Raw Trading Ltd, is regulated by the Seychelles FSA under licence SD018. The Bahamas entity, IC Markets Ltd, is regulated by the Securities Commission of The Bahamas under licence SIA-F214.
This is a strong regulatory footprint compared with brokers that only operate through one offshore entity. ASIC and CySEC are meaningful regulators, and the EU entity sits under a stricter retail CFD framework. The weaker part is that many international clients may be onboarded through Seychelles or Bahamas, where investor protection is not equal to the EU or Australian framework.
IC Markets Global states that it holds client money in segregated client money accounts in Tier 1 banks. Its global help-center content also says there is no minimum deposit requirement and that client funds are held separately. This is a useful protection, but it should not be confused with a government compensation scheme under every entity.
Regulatory history is the main trust concern. IC Markets (EU) Ltd received a €200,000 CySEC fine in 2024 related to leverage-rule breaches and a separate €50,000 CySEC fine for regulatory violations. There is also an Australian class action alleging IC Markets engaged in misleading, deceptive, and unconscionable conduct in the supply of CFDs to retail investors between December 2017 and August 2024. These are allegations and enforcement history, not proof that every current client will face problems, but they matter in a safety review.
IC Markets Account Types
| Account | Min. Deposit | Spreads | Commission | Platforms | Islamic Available |
|---|---|---|---|---|---|
| Standard | $0 on current global account overview | From around 1.0 pip on Standard page | $0 | MT4, MT5 | Yes |
| Raw Spread | $0 on current global account overview | From 0.0 pips | $3.50 per lot per side | MT4, MT5 | Yes |
| cTrader Raw Spread | $0 on current global account overview | From 0.0 pips | $3 per USD 100,000 traded | cTrader, TradingView | Yes |
| Demo | Free | Demo environment | None | MT4, MT5, cTrader | N/A |
| Raw Pro | Early access, $5,000 listed | From 0.0 pips | $1.50 per lot per side | MetaTrader | Not the main public account yet |
| Raw Pro+ | Early access, $100,000 listed | From 0.0 pips | $1.00 per lot per side | MetaTrader | Not the main public account yet |
IC Markets’ core account structure is simple: Standard for commission-free trading, Raw Spread for MetaTrader users who want lower spreads, and cTrader Raw Spread for traders who prefer cTrader or TradingView. The current global account overview lists $0 minimum deposit across Standard, Raw Spread, and cTrader Raw Spread accounts, though some older IC Markets materials and promotional terms still reference $200 as a starting deposit.
The Raw Spread account is the standout option for active traders. It offers spreads from 0.0 pips, an average EUR/USD spread of 0.1 pips, and a commission of $3.50 per lot per side on MetaTrader. The cTrader and TradingView commission is listed as $3 per USD 100,000 traded.
The Standard account is easier for newer traders because there is no separate commission, but the all-in spread is wider. Active traders, scalpers, and EA users will usually get better pricing transparency from Raw Spread or cTrader Raw Spread.
IC Markets also supports swap-free accounts and demo accounts. The global forex account page says demo accounts are free, available across all platforms, include all account types and products, and allow traders to test Expert Advisors before switching to live trading.
IC Markets Spreads, Fees & Commissions
IC Markets is strongest on trading costs. The Raw Spread account offers spreads from 0.0 pips, with average EUR/USD spread listed at 0.1 pips and a MetaTrader commission of $3.50 per lot per side. The cTrader and TradingView commission is listed as $3 per USD 100,000 traded.
Spreads Comparison
| Instrument | IC Markets Spread | Industry Average | Verdict |
|---|---|---|---|
| EUR/USD | Average 0.1 pips on Raw Spread | ~0.8 to 1.2 pips on standard pricing | Very strong |
| GBP/USD | Live homepage snapshot showed 0.7 pips | ~1.0 to 1.5 pips | Competitive |
| XAU/USD | Live homepage snapshot showed 0.7 spread | Broker dependent | Competitive |
| Indices | From 0.4 points on 25 indices | Broker dependent | Competitive |
The broker’s pricing is especially strong for forex majors. IC Markets says its forex offering covers more than 61 currency pairs, with raw spreads from 0.0 pips, average EUR/USD spread of 0.1 pips, and deep liquidity.
For non-trading fees, IC Markets’ withdrawal pages state that the broker charges no extra fees for deposits or withdrawals. The EU deposit and withdrawal policy says withdrawal requests are processed within one working day, though bank transfers can take around 3 to 5 working days to reach the client’s account.
Overall, IC Markets is one of the more cost-efficient brokers in this review set. The main caution is that spreads are variable, final execution can differ during fast markets, and some external banks or payment providers may still charge their own fees.
IC Markets Trading Platforms
IC Markets has one of the strongest platform lineups in retail CFD trading. Traders can use MetaTrader 4, MetaTrader 5, cTrader, TradingView, WebTrader, and mobile apps. The live account page confirms that clients can trade through MT4, cTrader, and MT5, while the global site menus and platform pages list MetaTrader, cTrader, TradingView, and WebTrader access.
Platform Comparison
| Platform | Desktop | Web | Mobile | EAs/Bots | Notes |
|---|---|---|---|---|---|
| MT4 | Yes | Yes | Yes | Yes | Best for classic forex trading and Expert Advisors |
| MT5 | Yes | Yes | Yes | Yes | Better for broader CFD access and newer MetaTrader tools |
| cTrader | Yes | Yes | Yes | Yes, through cTrader Automate | Strong for raw pricing, depth of market, and active traders |
| TradingView | Web based | Yes | Yes | Script ecosystem | Strong charting and browser-based analysis |
| WebTrader | Browser based | Yes | Mobile browser | Limited | Useful for quick access without downloads |
| Mobile Apps | No | No | Yes | Limited | Account monitoring and trading on the go |
MT4 and MT5 are the best fit for EA users and prop-trader crossover traffic. cTrader is excellent for traders who want a cleaner ECN-style interface, depth of market, and cTrader Automate. TradingView is useful for traders who want advanced browser-based charting and the TradingView ecosystem.
For prop traders, IC Markets is one of the better retail-broker fits. MT4, MT5, cTrader, Raw Spread pricing, low-latency servers, VPS access, and EA support all match the workflow many prop traders already use.
IC Markets Assets & Markets
IC Markets offers a broad CFD product range. The global range-of-markets page lists 61 forex pairs, 25 indices, over 20 commodities CFDs, 2,100+ stock CFDs, 9+ bonds, cryptocurrency CFDs, and futures CFDs. The current homepage also promotes 2,850+ tradable instruments on the global site.
Asset Coverage
| Asset Class | Number of Instruments | Examples |
|---|---|---|
| Forex | 61 currency pairs | EUR/USD, GBP/USD, USD/JPY |
| Indices | 25 indices | Major global index CFDs |
| Commodities | 20+ CFDs | Energy, agriculture, metals |
| Stocks CFDs | 2,100+ stocks | ASX, NASDAQ, NYSE and other major exchanges |
| Bonds | 9+ bonds | Government bond CFDs |
| Crypto CFDs | Over 50 CFDs mentioned on crypto page | BTC, ETH, LTC and others |
| Futures CFDs | Available | Selected futures-style CFD products |
IC Markets is clearly a CFD broker rather than a direct investing platform. Traders do not own the underlying assets when trading CFDs. The strength is market coverage, especially for forex, stock CFDs, indices, commodities, and crypto CFDs.
IC Markets does not accept US clients through its global offering. The global site states that Raw Trading Ltd does not provide services to residents of countries including the United States, Canada, New Zealand, Iran, and North Korea.
IC Markets Leverage
IC Markets leverage depends on the entity. The global account overview lists leverage up to 1:1000 on Standard, Raw Spread, cTrader Raw Spread, and the early-access Raw Pro account types. The global forex page also references up to 1:1000 leverage on forex CFDs.
Leverage Table
| Trader Type | Max Leverage |
|---|---|
| IC Markets Global / Seychelles | Up to 1:1000 on some accounts |
| CySEC / EU retail clients | Typically capped at 1:30 on major forex pairs under EU retail rules |
| ASIC retail clients | Lower retail leverage than global offshore accounts |
| Professional or eligible clients | Higher leverage may apply depending on entity and classification |
High leverage is useful for experienced traders, but it increases loss risk fast. IC Markets’ global leverage is attractive for aggressive CFD traders, but safety-first users should prefer lower leverage and stronger regulatory protection over maximum margin flexibility.
IC Markets Deposits & Withdrawals
IC Markets supports a wide range of payment methods, including bank transfer, cards, PayPal, Skrill, Neteller, and other regional methods depending on entity and location. The broker promotes instant deposits, fast withdrawals, and no extra broker fees for deposits or withdrawals.
Deposit Methods
| Method | Min. Deposit | Fee | Processing Time |
|---|---|---|---|
| Bank Transfer | Region dependent | No extra IC Markets fee, bank fees may apply | Bank dependent |
| Credit / Debit Card | Region dependent | No extra IC Markets fee | Usually fast |
| PayPal | Region dependent | No extra IC Markets fee | Usually fast |
| Skrill / Neteller | Region dependent | No extra IC Markets fee | Usually fast |
| Regional payment methods | Region dependent | Method dependent | Method dependent |
Withdrawal Methods
| Method | Min. Withdrawal | Fee | Processing Time |
|---|---|---|---|
| Bank Transfer | Region dependent | No extra IC Markets fee, bank fees may apply | Often 3 to 5 working days after processing |
| Credit / Debit Card | Region dependent | No extra IC Markets fee | Method dependent |
| PayPal | Region dependent | No extra IC Markets fee | Method dependent |
| Skrill / Neteller | Region dependent | No extra IC Markets fee | Often faster than bank transfer |
| Regional payment methods | Region dependent | Method dependent | Method dependent |
The EU withdrawal policy says IC Markets processes withdrawal requests within one working day, though final receipt depends on the payment method. Bank transfers are typically processed by the broker within one working day, then can take about 3 to 5 working days to reach the account.
Withdrawals must generally return to an account or funding source in the client’s own name. IC Markets states that it does not process payments to third parties.
IC Markets Customer Support
IC Markets promotes 24/7 support on its global site and lists phone, email, and live chat contact routes. The global crypto page shows support by phone, email, and live chat, with multilingual support available 24/7.
| Channel | Available | Hours | Notes |
|---|---|---|---|
| Live chat | Yes | 24/7 positioning | Main fast support route |
| Yes | 24/7 positioning | support@icmarketsgroup.com shown on Trustpilot | |
| Phone | Yes | 24/7 positioning | International phone support listed |
| Help centre | Yes | Always available | Covers accounts, funding, platforms, and trading |
Public feedback is strong. Trustpilot currently shows 4.8 / 5 from 53,339 reviews, with 92% of reviews rated 5-star and 3% rated 1-star. Trustpilot also states that IC Markets Global replies to 95% of negative reviews, usually within 1 week.
The review summary is not perfect. Trustpilot notes a few complaints around slow responses, generic information, delayed withdrawals, account termination, and operational decisions. Still, the overall public profile is much stronger than most brokers in this category.
IC Markets Education & Research
IC Markets has a solid research and education layer. Its public menus include education overview, forex and CFD learning content, Web TV, webinars, podcasts, tutorial videos, forex calculators, an economic calendar, a glossary, IC Insights, and Trading Central.
This is a useful setup for active traders rather than a beginner-only academy. The broker’s strongest tools are more practical: raw pricing, platform choice, VPS access, Trading Central, cTrader tools, TradingView access, and market calendars.
Compared with AvaTrade or XM, IC Markets feels less education-first and more execution-first. That is not a weakness for its target audience. Active traders usually choose IC Markets for pricing, platforms, and low-latency execution rather than long beginner courses.
IC Markets Pros and Cons
| PROS | CONS |
|---|---|
| Strong platform lineup with MT4, MT5, cTrader, TradingView, WebTrader, and mobile apps | Protection depends on the entity holding the account |
| Raw spreads from 0.0 pips, with average EUR/USD spread listed at 0.1 pips | Global clients may trade under Seychelles or Bahamas entities, not ASIC or CySEC |
| Competitive commissions on Raw Spread and cTrader accounts | CySEC fined IC Markets EU in 2024 |
| Broad CFD range across forex, indices, commodities, stocks, bonds, crypto, and futures | Australian class-action allegations remain a trust concern |
| 24/7 support and strong Trustpilot rating | Not available to US clients |
| Good fit for scalpers, EAs, algorithmic traders, and prop-style workflows | High leverage under global accounts can increase risk quickly |
Is IC Markets Legit? Our Verdict
Is IC Markets legit? Yes. IC Markets is a legitimate broker group with regulated entities in Australia, Cyprus, Seychelles, and The Bahamas. It has been operating since 2007 and has a large public footprint across forex and CFD trading.
The strongest reason to choose IC Markets is trading quality. Raw spreads from 0.0 pips, average EUR/USD spread of 0.1 pips, MT4, MT5, cTrader, TradingView, VPS support, and low-latency infrastructure make it one of the best retail CFD brokers for active traders.
The main reason to be cautious is trust complexity. ASIC and CySEC add credibility, but international users may not receive the same protection. The CySEC fines and Australian class-action allegations should be part of any balanced review.
Trustpilot is a positive point. IC Markets Global currently has a 4.8 / 5 Excellent rating from over 53,000 reviews, and the company replies to most negative reviews. That supports the broker’s reputation for support and service, though it should not replace regulation and entity checks.
MTR Rating Breakdown
| Category | Score | Notes |
|---|---|---|
| Regulation & Safety | 8.2 / 10 | Strong group regulation, but entity-level protection varies and past fines matter |
| Spreads & Fees | 9.3 / 10 | Excellent Raw Spread pricing and clear commission structure |
| Platform Quality | 9.1 / 10 | MT4, MT5, cTrader, TradingView, WebTrader, mobile |
| Asset Coverage | 8.6 / 10 | Broad CFD range across forex, stocks, crypto, indices, commodities, bonds, and futures |
| Deposit & Withdrawal | 8.0 / 10 | No extra broker fees and solid withdrawal processing, with payment-method caveats |
| Customer Support | 8.0 / 10 | 24/7 support and strong Trustpilot profile |
| Overall | 8.8 / 10 | Strong active-trading broker with important trust caveats |
Final verdict: IC Markets is best for active traders, scalpers, EA users, cTrader users, and prop traders who want low spreads and broad platform choice. Safety-first traders should check the exact entity shown during onboarding and understand the difference between ASIC, CySEC, Seychelles, and Bahamas protection before funding an account.
IC Markets Alternatives
| Alternative | Best For | Min. Deposit | Regulation | Spreads From |
|---|---|---|---|---|
| FP Markets | Raw spreads plus MT4, MT5, cTrader, TradingView, and Iress | $100 on many account pages | ASIC, CySEC, FSCA, FSA Seychelles, FSC Mauritius | From 0.0 pips on Raw |
| Pepperstone | Low-cost trading and strong regulation | No fixed minimum in many regions | FCA, ASIC, CySEC and more | Raw-style pricing available |
| Vantage | MT4, MT5, TradingView, copy trading, and ECN-style pricing | $50 | ASIC, FCA, FSCA, CIMA, VFSC by entity | From 0.0 pips on RAW ECN |
FP Markets is the closest alternative for traders who want similar raw-spread pricing and even broader platform choice. Pepperstone is a strong option for traders who want low-cost execution with deeper top-tier regulation. Vantage is useful for traders who want MT4, MT5, TradingView, copy trading, and a lower listed entry deposit.
Frequently Asked Questions
Is IC Markets a scam?
No. IC Markets is a legitimate broker group with regulated entities under ASIC, CySEC, FSA Seychelles, and the Securities Commission of The Bahamas. The main caution is that protection depends on which entity holds the account.
Is IC Markets regulated?
Yes. IC Markets group entities include ASIC AFSL 335692, CySEC 362/18, FSA Seychelles SD018, and SCB Bahamas SIA-F214.
What is the minimum deposit for IC Markets?
The current IC Markets Global account overview lists $0 minimum deposit on Standard, Raw Spread, and cTrader Raw Spread accounts. Some older regional materials and promotions still reference $200, so traders should confirm the amount inside the client portal for their entity.
What spreads does IC Markets offer?
IC Markets offers Raw Spread pricing from 0.0 pips. Its Raw Spread page lists the average EUR/USD spread at 0.1 pips, with a MetaTrader commission of $3.50 per lot per side.
What platforms does IC Markets support?
IC Markets supports MT4, MT5, cTrader, TradingView, WebTrader, and mobile apps. MT4 and MT5 support Expert Advisors, while cTrader supports cTrader Automate.
Does IC Markets accept US clients?
No. IC Markets Global states that Raw Trading Ltd does not provide services to residents of the United States and several other restricted countries.
How long do IC Markets withdrawals take?
IC Markets’ EU withdrawal policy says withdrawal requests are processed within one working day, while bank transfers can take about 3 to 5 working days to be credited after processing.
What leverage does IC Markets offer?
IC Markets Global lists leverage up to 1:1000 on some accounts. Retail clients under stricter ASIC or CySEC rules receive lower leverage limits.
Is IC Markets good for beginners?
IC Markets can work for beginners because it offers demo accounts, Standard accounts, education content, and a wide platform choice. It is still better suited to active traders because the strongest value is Raw Spread pricing, cTrader, MetaTrader, and execution infrastructure.
Is IC Markets suitable for prop traders?
Yes. IC Markets is one of the better retail brokers for prop-trader crossover traffic because it supports MT4, MT5, cTrader, EAs, low spreads, VPS-style workflows, and fast execution infrastructure.
Review Methodology
This review was prepared by MyTradingReviews using publicly available information from IC Markets’ official websites, account pages, platform pages, regulation pages, legal disclosures, Trustpilot profile, and public regulatory or legal reporting. Regulation was verified on April 28, 2026 against IC Markets’ public entity disclosures and regulator-linked documents where available.