IC Markets Global

Quick Verdict

Overall Score	8.9 / 10
Regulation	FSA Seychelles; separately regulated group entities under ASIC and CySEC
Best For	Active forex traders, scalpers, algorithmic traders and multi-platform users
Minimum Deposit	$0 on Standard and Raw Spread accounts
Spreads From	0.0 pips on Raw accounts; 0.8 pips on Standard
Maximum Leverage	Up to 1:5000 on eligible MetaTrader accounts with Raw Trading Ltd
Platforms	MT4, MT5, cTrader, TradingView, WebTrader and mobile apps
Deposit Methods	Cards, bank transfer, PayPal, Skrill, Neteller, UnionPay, local banking and supported cryptocurrencies
Withdrawal Speed	Same or next business-day broker processing before the cut-off; payment-provider transit varies
Verdict	Excellent pricing and platform choice for experienced traders, but the international account has offshore protections and exceptionally high leverage

IC, formerly known primarily as IC Markets, is a highly competitive forex and CFD broker established in Australia in 2007. The international website is operated by Raw Trading Ltd, a Seychelles company regulated by the Financial Services Authority under licence SD018.

The broker stands out for raw pricing, strong automation support, four major platform families and more than 2,850 tradable instruments. Its weakest point is not the trading environment but the protection attached to the international account: Seychelles regulation is lighter than ASIC or CySEC oversight, there is no statutory investor compensation scheme, and leverage can reach levels that leave very little room for error.

IC Review: Our Take

IC is one of the strongest brokers available to active forex and CFD traders. The combination of Raw Spread pricing, low commissions, Equinix-hosted MetaTrader infrastructure and unrestricted support for scalping and Expert Advisors makes it particularly compelling for systematic and high-frequency strategies.

Platform choice is another major advantage. Clients can use MT4 or MT5 for Expert Advisors, cTrader for a modern order-entry environment, or TradingView for chart-driven execution. Few brokers combine all four with such a broad CFD range.

The international account is less convincing from a safety perspective. Raw Trading Ltd is a regulated company and segregates client money, but Seychelles does not provide protections equivalent to those attached to an EU or Australian retail account. IC’s private insolvency insurance is useful, but its stated limit of US$1 million applies across all claimants rather than functioning as a statutory per-client compensation scheme.

We also give weight to the regulatory history of the wider group. In 2024, CySEC fined the separate IC Markets (EU) Ltd entity €200,000 over conduct intended to circumvent retail leverage restrictions through a third-country group entity. It imposed another €50,000 fine concerning best execution arrangements and cost disclosures. Those decisions do not invalidate Raw Trading Ltd’s licence, but they are material when assessing group-level compliance.

Overall, IC is best suited to experienced, cost-sensitive traders who understand margin and counterparty risk. Beginners can use the Standard account and demo environment, but the availability of 1:5000 leverage makes disciplined position sizing essential.

What Is IC?

IC is the evolved brand of IC Markets, a broker founded in Sydney in 2007. Its original positioning was to make institutional-style pricing, deep liquidity and low-latency execution available to retail traders.

The supplied international website is operated by Raw Trading Ltd, registered in Seychelles under company number 8419879-1. IC and IC Markets Global are trading names of that entity. Other companies within the wider group serve clients under separate Australian and European regulatory frameworks.

IC acts as the issuer and principal for its forex and CFD products. It sources prices from external banks, non-bank liquidity providers and market-data sources, then offers trading through variable-spread Standard and commission-based Raw accounts. Although its pricing model has ECN-like characteristics, clients ultimately trade with IC rather than directly on an exchange.

The product range covers forex, stocks, indices, commodities, bonds, cryptocurrencies and futures CFDs. These are leveraged derivatives: clients generally do not own the underlying shares, cryptocurrencies or commodities.

Is IC Regulated? Safety & Licences

Regulatory Licences

Regulator	Jurisdiction	Licence Number	Verified
Financial Services Authority (FSA)	Seychelles	SD018	Yes
Australian Securities and Investments Commission (ASIC)	Australia	335692	Yes
Cyprus Securities and Exchange Commission (CySEC)	European Union	362/18	Yes

The account available through ic.com/en is provided by Raw Trading Ltd under the Seychelles FSA licence. The ASIC and CySEC licences belong to separate group companies and do not automatically protect clients registered in Seychelles.

Raw Trading Ltd states that client money is held in segregated accounts with international banks and is not used for operating expenses. Segregation is an important safeguard, but it does not eliminate bank, broker or administration risk.

The Seychelles entity is not covered by a statutory investor compensation scheme comparable to the Cyprus Investor Compensation Fund. IC provides private insolvency insurance for Raw Trading Ltd clients, covering available balances and open CFD positions, with stated coverage of up to US$1 million across all claimants. This should be treated as supplementary protection rather than the equivalent of a government-backed guarantee.

Negative balance protection is not presented as an unconditional contractual protection for every international client. IC’s own global risk disclosure warns that losses may, in some circumstances, exceed deposited funds. This is a significant distinction from EU retail accounts, where negative balance protection is mandatory.

Eligible EU retail clients under IC Markets (EU) Ltd may benefit from segregated funds, negative balance protection, leverage limits and Investor Compensation Fund coverage of up to €20,000. Australian retail protections include ASIC leverage restrictions and client-money rules, but Australia does not operate an EU-style investor compensation fund.

The two 2024 CySEC fines involving IC Markets (EU) Ltd remain relevant. The larger €200,000 penalty concerned the circumvention of retail margin requirements through a third-country group company, while the €50,000 decision concerned best execution and clarity of cost information.

IC Account Types

Account	Minimum Deposit	Spreads	Commission	Platforms	Islamic Available
Standard	$0	From 0.8 pips	$0 on forex	MT4, MT5	Yes, subject to eligibility
Raw Spread	$0	From 0.0 pips	$3.50 per lot per side	MT4, MT5	Yes, subject to eligibility
Raw Spread cTrader	$0	From 0.0 pips	$3 per US$100,000 per side	cTrader, TradingView	Yes, subject to eligibility
Raw Pro	$5,000	From 0.0 pips	$1.50 per lot per side	MT4, MT5	Varies
Raw Pro+	$100,000	From 0.0 pips	$1 per lot per side	MT4, MT5	Varies

The Standard account incorporates the broker’s charge into the spread. It is the simplest option for newer traders and those who prefer not to calculate a separate commission.

The Raw Spread account displays tighter underlying pricing and adds a commission. For USD-denominated MetaTrader accounts, the standard charge is $3.50 per lot per side, or $7 for a complete opening-and-closing transaction. This account is better suited to scalpers, Expert Advisors and higher-volume traders.

The cTrader and TradingView version uses a commission of $3 per US$100,000 traded per side. Because this calculation is based on notional volume, costs can differ slightly from a fixed per-lot MetaTrader commission.

Raw Pro and Raw Pro+ are high-balance accounts offered on an early-access or eligibility basis. Their lower commissions can benefit very active traders, but the deposit thresholds make them irrelevant to most retail clients.

Demo accounts are available. Swap-free accounts can be requested by eligible clients of the Islamic faith. Instead of conventional overnight swaps, administration charges may apply to certain instruments or positions held beyond an initial period.

IC Spreads, Fees & Commissions

IC’s pricing is among its strongest features. Raw spreads can reach 0.0 pips, although they are variable and will widen when liquidity falls or volatility rises. The broker’s published typical EUR/USD Raw spread is around 0.1 pips, before commission.

Standard accounts have no separate forex commission and start from 0.8 pips. Raw MetaTrader accounts charge $7 per standard lot round trip in USD, while cTrader and TradingView charge $3 per US$100,000 per side.

Spreads Comparison

Instrument	IC Spread	Industry Average	Verdict
EUR/USD - Raw	From 0.0 pips; approximately 0.1 typical, plus commission	0.1-0.3 pips, plus commission	Excellent
EUR/USD - Standard	From 0.8 pips	0.9-1.3 pips	Very competitive
US500 cash index	Approximately 0.5 points average	0.4-0.8 points	Competitive
UK100 cash index	From 1.0 point	1.0-1.5 points	Competitive

Overnight financing applies to most cash CFDs held beyond the daily rollover. Rates differ by instrument, position direction and market interest rates, and triple financing can apply on the designated weekly rollover day. Current rates are shown inside the trading platform.

IC does not list a general account-opening or inactivity fee for its international accounts. It also does not impose a routine broker fee on deposits or withdrawals. Intermediary banks, card issuers, e-wallets and currency conversions can still generate external costs.

A processing fee may be applied when deposited funds are withdrawn without having been used for trading. Swap-free accounts can also incur administration fees on eligible instruments after the applicable grace period.

IC Trading Platforms

Platform	Desktop	Web	Mobile	EAs/Bots	Notes
MetaTrader 4	Yes	Yes	Yes	Yes	Mature forex platform with MQL4 automation
MetaTrader 5	Yes	Yes	Yes	Yes	Wider market coverage, MQL5 and improved testing
cTrader	Yes	Yes	Yes	Yes	Modern interface, depth of market and C# automation
TradingView	No native IC desktop terminal	Yes	Yes	Limited compared with MT/cTrader	Advanced charting and broker-connected execution
IC Mobile App	No	No	Yes	No	Account management, funding, support and market monitoring

MT4 remains a practical choice for traders with established Expert Advisors and indicators. IC supplements it with tools such as one-click trading, market-depth features, spread monitoring and risk calculators.

MT5 is the more capable MetaTrader option for traders who want broader CFD access, additional order types, more timeframes and an improved strategy tester. Some products, particularly the larger share-CFD range, are concentrated on MT5.

cTrader provides a cleaner modern interface, detachable charts, depth of market, advanced order controls and cTrader Algo automation using C#. It also supports cTrader Copy. TradingView is attractive for traders who prioritise browser-based charting, alerts and social analysis.

IC also supports copy and social-trading services, including IC Social and selected third-party integrations. Copy trading adds strategy-provider and execution risk; it should not be treated as managed portfolio protection.

The main platform limitation is fragmentation. Instruments, leverage and account credentials are not interchangeable across all terminals, so traders should choose their preferred platform before opening the corresponding live account.

IC Assets & Markets

Asset Coverage

Asset Class	Number of Instruments	Examples
Forex CFDs	61 pairs	EUR/USD, GBP/USD, USD/JPY, exotic pairs
Stock CFDs	More than 2,500	US, Australian, Japanese and European shares
Index CFDs	25	US500, USTEC, UK100, DE40, AUS200
Commodity CFDs	More than 20	Gold, silver, oil, natural gas and agricultural markets
Cryptocurrency CFDs	94	Bitcoin, Ethereum, XRP, Litecoin and altcoins
Bond CFDs	More than 9	US, UK, European and Japanese government bonds
Futures CFDs	5	VIX, US Dollar Index and selected commodity futures

IC offers more than 2,850 instruments overall, making its product range broader than that of a forex-only broker. Its strongest areas are shares, forex and cryptocurrency CFDs.

The selection remains CFD-focused. Traders do not receive ownership or voting rights in the underlying company when trading a stock CFD, and cryptocurrency CFDs cannot be transferred to a personal wallet.

Availability varies by platform and residence. For example, most share CFDs are accessed through MT5, while selected futures CFDs are restricted to particular MetaTrader terminals. Raw Trading Ltd does not accept residents of the United States, Canada, New Zealand, Iran or North Korea, and further legal restrictions can apply.

IC Leverage

Trader Type	Maximum Leverage (Forex)	Maximum Leverage (Crypto)	Maximum Leverage (Indices)
Raw Trading Ltd - MetaTrader	1:5000	1:500	1:200
Raw Trading Ltd - cTrader/TradingView	1:1000	1:300	1:200
EU retail client	1:30	1:2	1:20
Australian retail client	1:30	1:2	1:20
Professional client	Entity and eligibility dependent	Entity dependent	Entity dependent

The maximum 1:5000 forex leverage applies only to smaller exposure tiers on eligible MetaTrader accounts with Raw Trading Ltd. IC uses dynamic leverage: larger positions move into progressively lower leverage tiers. For major and minor forex pairs, leverage can fall from 1:5000 to 1:3000, 1:1000 and eventually 1:500 as exposure increases.

Higher Margin Requirements can apply around major news, the daily market rollover and weekends. Under those conditions, the highest forex tier for new positions may be reduced to 1:500, with larger tiers capped at 1:200.

Crypto leverage is also tiered. Bitcoin and Ethereum can reach 1:500 on smaller eligible MetaTrader positions, with reduced leverage at higher exposure. Stocks are generally capped at 1:20 and may carry higher margin requirements during pre-market, after-hours or auction sessions.

Leverage of 1:5000 is exceptionally risky. A movement of only a few hundredths of one percent can have a substantial effect on the margin supporting a fully leveraged position. The maximum available setting should not be interpreted as an appropriate trading level.

IC Deposits & Withdrawals

Deposit Methods

Method	Minimum Deposit/Withdrawal	Fee	Processing Time
Credit/debit card	No account minimum	No IC fee	Usually instant
PayPal	No account minimum	No IC fee	Usually instant
Skrill/Neteller	No account minimum	No IC fee	Usually instant
Bank wire	No account minimum	No IC fee; bank charges may apply	2-5 business days
UnionPay	No account minimum	No IC fee	Usually instant
Local internet banking	Varies by country	No IC fee	Instant to 2 business days
Supported cryptocurrency	No account minimum	Network costs may apply	Usually instant after confirmation

Withdrawal Methods

Method	Minimum Deposit/Withdrawal	Fee	Processing Time
Credit/debit card refund	Varies	No IC fee	3-5 business days after processing; occasionally longer
PayPal/Skrill/Neteller	Varies	No IC fee; provider fees may apply	Provider dependent
Bank wire	Varies	No IC fee; intermediary fees may apply	Up to 14 days internationally
Local bank transfer	Varies by country	Usually no IC fee	Commonly 1-3 business days after processing
Cryptocurrency	Varies by asset and network	Network costs may apply	Network and review dependent

Withdrawal requests submitted before 12:00 AEST/AEDT are generally processed by IC on the day of receipt. Later requests are normally processed on the following business day. This is the broker’s internal processing time; receiving banks and payment providers can take longer.

IC follows return-to-source and anti-money-laundering rules. Card deposits are generally refunded to the same card, while e-wallet withdrawals must return to the originating account. Profits or amounts exceeding the original card deposit may need to be paid through another previously used method or by bank transfer.

Third-party payments are not accepted. Clients may need to provide a bank statement or other ownership evidence for a first withdrawal, and additional checks can delay unusually large or changed payment instructions.

IC Customer Support

Channel	Available	Hours	Response Time
Live chat	Yes	24/7	Varies; generally the fastest channel
Email	Yes	24/7 service	Varies
Telephone	Yes	24/7 service	Varies
Online contact form	Yes	24/7 submission	Varies
In-app support	Yes	24/7	Varies

IC provides round-the-clock support through live chat, telephone, email and its mobile app. Dedicated addresses are available for general support, account-opening questions and client-relations matters.

International and regional telephone numbers are provided, including numbers for Indonesia, Thailand, Vietnam and Colombia. The range of regional contact options is stronger than at many offshore brokers.

Live chat is the most practical route for platform, verification and funding questions. Formal complaints or payment disputes should be submitted in writing so the client retains a complete record.

IC Education & Research

IC provides a useful mix of beginner education and active-trader research. Its educational library includes introductory forex and CFD material, tutorial videos, webinars, a glossary, podcasts and platform guidance.

Research resources include an economic calendar, forex calculators, market commentary, IC Insights, Web TV and Trading Central. These tools are particularly useful for traders who need event schedules, technical levels and structured daily analysis.

The broker’s educational content is broad enough to help a beginner learn platform mechanics, but IC’s real strength remains execution rather than a guided learning journey. New traders may need an external structured course for deeper coverage of position sizing, probability, drawdown control and strategy testing.

Trading Central, copy-trading feeds and market commentary are research inputs, not personalized investment advice or guarantees of performance.

IC Pros and Cons

Pros	Cons
Raw spreads from 0.0 pips	International clients contract with a Seychelles entity
$0 minimum deposit on core accounts	No statutory compensation scheme for Raw Trading Ltd clients
MT4, MT5, cTrader and TradingView	Up to 1:5000 leverage creates extreme risk
Strong support for scalping, EAs and algorithmic trading	Negative balance protection is not an unconditional global guarantee
More than 2,850 CFD instruments	Products and credentials are fragmented across platforms
Competitive $7 MetaTrader round-turn commission	Overnight and swap-free administration costs vary by instrument
24/7 customer support	2024 CySEC fines weigh on the wider group’s compliance record
Broad regional funding options	International bank withdrawals can take considerably longer
Segregated client accounts	CFDs provide no ownership of the underlying asset
Supplementary insolvency insurance	Insurance limit is stated across all claimants, not per client

Is IC Legit? Our Verdict

IC is a legitimate, long-established CFD broker rather than an anonymous or unlicensed operation. The brand dates to 2007, Raw Trading Ltd appears on the Seychelles FSA’s regulated-entity records, and separate group companies hold ASIC and CySEC licences.

The international entity offers segregated client accounts and supplementary insolvency insurance. However, clients should not assume that ASIC or EU protections apply merely because those licences exist elsewhere in the group. The legal entity shown during registration determines the regulator, leverage limits, complaint route and compensation arrangements.

The 2024 CySEC enforcement decisions are a meaningful blemish. In particular, the €200,000 fine concerning the circumvention of retail leverage restrictions deserves attention because it involved a third-country group entity and repeated conduct. The separate €50,000 penalty highlighted best-execution and cost-disclosure deficiencies.

Those findings prevent us from treating IC as flawless, but they do not outweigh the broker’s established operating history, verified licences, transparent account pricing and high-quality trading infrastructure. IC earns an 8.9/10 overall rating, with the strongest recommendation going to experienced traders who understand the implications of using the Seychelles entity.

MTR Rating Breakdown

Category	Score	Notes
Regulation & Safety	8.2 / 10	Verified group licences and segregated funds, offset by offshore protections and CySEC enforcement history
Spreads & Fees	9.6 / 10	Excellent Raw pricing, competitive commissions and no core account minimum
Platform Quality	9.6 / 10	MT4, MT5, cTrader and TradingView with strong automation support
Asset Coverage	9.4 / 10	More than 2,850 CFDs across seven major asset groups
Deposit & Withdrawal	9.0 / 10	Wide regional choice and no routine broker fee, though transit times vary
Customer Support	8.8 / 10	Genuine 24/7 availability and useful regional contact options
Overall	8.9 / 10	A top-tier trading environment with material entity-specific safety tradeoffs

IC is best for active forex traders, scalpers and algorithmic users seeking low costs and broad platform choice. It is less suitable for investors seeking ownership of real assets, US residents, or beginners likely to misuse very high leverage.

IC Alternatives

Alternative	Best For	Minimum Deposit	Regulation	Spreads From
Pepperstone	Traders wanting similar platforms under a stronger onshore entity	$10 or local equivalent	ASIC, FCA, CySEC and others	0.0 pips
FP Markets	Traders prioritising a larger CFD catalogue	AU$100 or equivalent	ASIC, CySEC and others	0.0 pips
Tickmill	Cost-conscious forex traders who prefer a simpler account range	$100	FCA, CySEC and other group regulators	0.0 pips

Pepperstone is the closest platform alternative. It supports MT4, MT5, cTrader and TradingView, while providing Raw pricing through its Razor account. Its practical advantage is the availability of strongly regulated entities in several major jurisdictions, although product depth depends on region.

FP Markets is a good alternative for traders who want a larger share and CFD catalogue. It offers Raw pricing, multiple platforms and an established ASIC-regulated Australian entity, but its standard entry deposit is higher than IC’s.

Tickmill is well suited to forex traders who want a straightforward Raw account with a $3-per-lot-per-side commission. Its platform and product selection is narrower than IC’s, but the account structure is easier to understand.

Frequently Asked Questions

Is IC a scam?

No. IC is an established forex and CFD brand with regulated legal entities. The international website is operated by Raw Trading Ltd, which holds Seychelles FSA licence SD018. Regulation does not eliminate trading or counterparty risk.

Is IC the same broker as IC Markets?

Yes. IC is the evolved brand of IC Markets. The international site moved to the shorter ic.com domain as part of the brand transition, while IC Markets Global remains a trading name of Raw Trading Ltd.

Which regulator covers the international IC account?

International clients using ic.com/en generally contract with Raw Trading Ltd under the Seychelles FSA. Clients should confirm the legal entity in the application and account agreement before depositing.

What is the minimum deposit at IC?

The Standard, Raw Spread and cTrader Raw Spread accounts have no stated minimum deposit. Raw Pro requires $5,000 and Raw Pro+ requires $100,000, subject to availability and eligibility.

How low are IC’s spreads?

Raw account spreads start from 0.0 pips. The broker publishes a typical EUR/USD Raw spread of approximately 0.1 pips, before commission. Standard account spreads start from 0.8 pips with no separate forex commission.

What commission does IC charge?

The USD MetaTrader Raw Spread account costs $3.50 per standard lot per side, or $7 round trip. cTrader and TradingView pricing is $3 per US$100,000 traded per side. The Standard account has no separate forex commission.

Which platforms does IC offer?

IC offers MetaTrader 4, MetaTrader 5, cTrader, TradingView, web terminals and mobile apps. It supports Expert Advisors, cTrader algorithms, scalping and copy-trading tools.

Does IC accept US clients?

No. Raw Trading Ltd does not provide accounts to residents of the United States. Canada, New Zealand, Iran and North Korea are also among the specifically restricted jurisdictions.

How long do IC withdrawals take?

Requests made before the daily 12:00 AEST/AEDT cut-off are generally processed on the same business day. Card refunds commonly take three to five business days after processing, while international bank wires can take up to 14 days.

Does IC offer negative balance protection?

Clients should not assume universal negative balance protection under Raw Trading Ltd. The international risk disclosure states that losses can, in some circumstances, exceed the deposited amount. EU retail accounts have different mandatory protections.

What is IC’s maximum leverage?

Eligible Raw Trading Ltd MetaTrader accounts can offer forex leverage up to 1:5000 on the first exposure tier. cTrader and TradingView accounts are generally capped at 1:1000. Leverage declines as exposure increases and may be reduced during higher-margin periods.

Is IC suitable for beginners?

The Standard account, demo access and educational resources make IC usable for beginners. However, the international entity’s very high leverage means new traders should select a much lower setting and learn position sizing before trading live.

Is IC suitable for scalping and automated trading?

Yes. This is one of IC’s strongest use cases. Raw pricing, MetaTrader Expert Advisors, cTrader Algo, low-latency infrastructure and a lack of minimum order-distance restrictions make it attractive for scalpers and systematic traders.

Is IC suitable for prop traders?

IC can suit experienced traders using their own capital and prop-style strategies, particularly through MetaTrader or cTrader. It is still a retail CFD broker, not a funded-account challenge provider, and its account terms should be checked for any strategy involving third-party capital or account management.

Review Methodology

This review was prepared by MyTradingReviews using publicly available information from IC’s official website, account and pricing pages, legal and regulatory disclosures, platform and funding documentation, official regulator sources, enforcement records, and other credible public sources. Regulation and current trading conditions were reviewed on September 16, 2026 against IC’s public disclosures and available official regulator records.