IC Markets Review

Overall Rating


Top 5 Forex Brokers

 IC Markets Review

📅 Year founded


📈 Multiple top-tier regulation


📍 Headquarters

Sydney, Australia

🌍 Country of regulation

Seychelles / Cyprus / Australia

✅ Regulators

FSA / CySec / ASIC

📈 Execution Type

Market Execution

💰 Minimum Deposit

$200 USD

🛡️ Negative Balance Protection


📉 Trading Platforms

MetaTrader4 / MetaTrader5 / cTrader

 ☪  Islamic account


📉 Trading Instruments

Forex / Indices / Commodities / Stocks / Bonds / Cryptocurrencies / Futures

📱 Mobile trading

iOS / Android / Windows

💳 Payment Types Accepted

Credit and Debit Cards / Bank Wire Transfer / PayPal / Neteller / Skrill / UnionPay / Bpay / POLI / RapidPay / Klarna

🎮 Demo Account


 ⓒ Copy Trading


🎁 Bonus Offer


💰 Account Currencies


📈 Minimum Trade

0.01 Lots

📈 Account Types


📈 Margin Trading


📈 Trading fees


📈 Inactivity fee


💰 Withdrawal fee


☎ Customer Support


💰 Max. Leverage

1 000:1

✔️ Hedging Allowed


✔️ Scalping Allowed


💰 Commission

$3.5 USD on Raw Spread Account / $0.0 USD on Standard Account

💰 Spreads

From 0.0 pips

💰 Leverage


💰 Currency Pairs (Total Forex pairs)


🔢 Number of clients

200 000 +

🥇 Instruments Offered

2 250 +

📙 Education

Webinars / Web TV / Podcast / Getting Started Video Tutorials

Click here ✅ Open a Trading Account




Found in 2007, IC Markets is a respectable forex and CFD brokerage firm with its headquarters located in Sydney, Australia. This online broker is regulated by FSA (Seychelles), CySEC and ASIC.

At IC Markets, clients can trade a range of trading instruments such as forex, indices, commodities, stocks, bonds, cryptocurrencies and futures.

The broker also offers 3 of the best trading platforms in the world to its traders namely the MetaTrader4 (MT4), MetaTrader5 (MT5) and cTrader platforms.




The broker is transforming online forex trading and is considered as one of the most well-known forex and CFD providers in the industry. IC Markets also provides superior spreads, service and execution.

IC Markets offers a transparent trading experience for its institutional and retail traders with advanced trading platforms, superior liquidity and low latency connectivity.

Traders can expect the following core values of this online broker, outlined on their website:

  • Integrity and Trust.
  • Honesty.
  • Fairness.
  • Transparency.
  • Commitments and Responsibility.
  • Reliability.
  • Flexibility.
  • Constant Innovation.
  • Regulatory Compliance.


IC Markets complies with all the necessary trading regulations, laws and policies. Client money is held in segregated trust accounts with the main Australian banks, while your funds will not be used for any operational purposes.

With IC Markets, you can expect customer support that is more than willing to assist its customers. The broker also strives to provide traders with a great mobile trading experience through its optimised Android and iPhone trading apps.

The broker’s mission is to offer its client with the lowest spreads throughout all market conditions.





  • Forex fees are low.
  • Broker account opening process is easy and fast.
  • No fees charged on deposits and withdrawals.
  • Great choice of sophisticated trading platforms available.
  • Safe and secure trading available.
  • Well-regulated broker.
  • Range of educational resources available.
  • Competitive pricing on commission-based trading accounts.
  • CFDs offered on a number of major cryptocurrency pairs.
  • Social copy-trading platform on offer.



  • No negative account balance protection.
  • Research tools are lacking.
  • No proprietary trading platform available.




Forex CFDs

On the world’s most liquid financial market (otherwise known as the forex market), traders can trade 24 hours a day and 5 days a week. With forex, traders can take advantage of the following:

  • Access to 61 currency pairs.
  • Tight spreads starting from 0.0 pips.
  • Leverage of up to 1 000:1.
  • Deep liquidity.


Volumes in excess of $6 trillion USD are being traded each day on the forex market.

To trade forex, means to trade a particular currency pair against another. Traders are in fact predicting the rise or fall of one currency against another.


Index CFDs

At IC Markets, you will have a range of different Indices to choose from such as the US E-mini, S&P 500, Australian S&P 200 Index, UK FTSE 100 Index and US DJIA Index amongst others. With the broker’s offering of worldwide index CFDs, you will have access to the globe’s largest equity markets.

  • 25 indices available to trade.
  • 24/5 trading across major markets.
  • Leverage of up to 200:1.
  • No commissions.
  • Spreads starting from 0.4 points on 25 indices.
  • MT4, MT5 and cTrader trading platforms available.

The advantage of trading indices is that it allows traders to trade a basket of different stocks instead of trading on merely an individual stock. Online CFD and futures-based indices are provided on the broker’s MT4, MT5 and cTrader platforms.

Other than equity indices, the IC Markets also provide futures indices such as ICE Dollar Index and VIX Index.


Commodities CFDs

  • Trade over 20 commodities.
  • Energy, agriculture and metals.
  • Spot and futures CFDs.
  • Leverage of up to 1 000:1.



At IC Markets, you can trade energies on your MT4 and MT5 trading platforms against the US Dollar. You can trade spot energy contracts on natural gas, crude oil and brent.

Precious Metals

The broker allows trading the spot price for metals (silver or gold) against the Euro or US Dollar. IC Markets also allows for trading the spot price for other metals (platinum or palladium) against the US Dollar.

Soft Commodities

IC Markets also provides a variety of soft commodity products to trade. You can trade products such as cocoa, soybeans, sugar, coffee and wheat as CFDs. Traders can trade all of these soft commodities with low spreads and leverage up to 1 000:1.


Stocks CFDs

With IC Markets, you will have access to more than 100 large-cap stocks CFDs across major stock exchanges, such as the NASDAQ, ASX and NYSE. With the intention of providing you with the best possible trading opportunities, IC Markets offers a wide selection of the globe’s most popular companies.

  • More than 120 stocks from Nasdaq, ASX and NYSE.
  • You can earn dividends.
  • Available on MT5 platform.


With the broker’s single stock CFDs, traders have the ability to trade some of the globe’s most popular companies. Among others, these companies include Apple, BHP Billiton and Meta.

Stocks are only available to trade on the broker’s MT5 platform. The MT5 platform provides cutting-edge functionalities for all types of traders who need world-class execution and superior charting tools.


Bonds CFDs

With bonds, you can take a risk and trade on interest rates and global risk on / off sentiment. At IC Markets, traders can decide between ranges of global government issued bonds including European governments’, the USA, Japan and the UK.

  • The broker has more than 9 types of bonds available to trade.
  • Zero commissions.
  • Leverage of up to 200:1.
  • Deep liquidity.


IC Markets provides bonds products as a CFD with flexible lot sizing. This means that traders can take a risk on the price of the Bond by going short or long.


Cryptocurrency CFDs

At IC Markets, you can go long or short with some of the world’s biggest and most popular cryptocurrencies on offer. The cryptocurrency market is dominated by retail speculators and there is no interbank dealers controlling order flow or giant pension funds moving prices.

  • You can trade the market 24/7.
  • You can go long or short.
  • Trade with leverage up to 200:1 on the MT 4 and 5 platforms.
  • You can trade over 21 cryptocurrencies including Bitcoin, Ethereum and Cardano.


Futures CFDs

The broker provides a variety of futures, such as the CBOE VIX Index and ICE Dollar Index. IC Markets also provides competitive spreads on all of their futures CFDs.

  • No commissions.
  • Leverage of up to 200:1.
  • Deep liquidity.


IC Markets has the following range of global Futures CFDs:

  • ICE Dollar Index Futures.
  • CBOE VIX Index Futures.
  • Brent Crude Oil Futures.
  • WTI Crude Oil Futures.





At IC Markets you will have a chance to trade on the well-known MT4 trading platform. The MT4 platform is considered as the world’s most popular trading platform for forex traders. This platform is easy to use and meets the demands of traders through its advanced technology offering.

You can use the MT4 trading platform on both of the broker’s trading accounts, namely the Standard and Raw Spread accounts.

  • No trading restrictions.
  • Spreads starting from 0.0 pips.
  • Flexible deposit and withdrawal options.
  • Flexible lot sizing.



MT5 is an all-inclusive trading platform for forex, cryptocurrencies, stocks, indices, bonds and commodities. For active traders, the MT5 platform is the most powerful trading platform due to the broker’s Raw Pricing. MT5 is developed to provide all the necessary tools to trade the markets.

You can use this trading platform on both of the broker’s trading accounts, namely the Standard and Raw Spread accounts.

  • Raw pricing connectivity.
  • Quick order execution.
  • No trading restrictions.
  • Spreads starting from 0.0 pips.
  • Flexible deposit and withdrawal options.
  • Flexible lot sizing.



The cTrader trading platform is specially developed for high speed of execution and to trade the global markets. The platform’s unique design, well-designed user interface and cutting-edge features make it a preferred platform for discretionary Forex traders.

  • Actual-time forex and CFD quotes.
  • Low commissions.
  • Servers located in the LD5 IBX Equinix Data Center.
  • Micro lot trading – minimum lot size of 0.01 with no maximum.
  • Flexible deposit and withdrawing options.
  • Level 2 pricing with full market depth.
  • No restrictions on limit orders.
  • Multiple order types.
  • Detachable charts.
  • Expanded symbol display.
  • Actual-time reports.
  • One-click trading.


The cTrader platform makes use of proven tools that allow traders to take their trading to the next level. This platform also provides traders with access to a deep liquidity pool in 61 currency pairs as well as over 16 major equity indices.

cTrader Benefits

  • You can trade against the market with no dealing desk involvement.
  • You can save money with its low costs.
  • You can enjoy fast and ultra-low latency execution.
  • You can choose leverage that will suit your strategy and trading style.
  • With micro-lots, you will have greater risk control.
  • You can move your funds in and out of your trading account with ease.




IC Markets has two account types available to its traders, namely the Standard Account and Raw Spread Account. The Raw Spread Account is available on both MT4 and cTrader. The broker’s Raw Pricing offering as well as its large product range are available on all account types.


Raw Spread Account (on cTrader)

The cTrader Account was developed by IC Markets for demanding performances and unrivalled execution speeds. This trading account can be a valuable addition to your trading arsenal and assist you to become a more advanced trader. It also has lower commissions charged on trades than the Raw account on MT4 / MT5 ($3.00 USD per side).


Raw Spread Account

The Raw Spread account provides some of the lowest spreads available. At IC Markets, the average EUR / USD spread is 0.1 pips, with a low commission of $3.50 USD per lot charged per standard lot round turn.

This account was developed for scalpers, day traders and expert advisors. The Raw Spread Account shows the raw inter-bank spread, received from the broker’s liquidity providers.


Standard Account

IC Markets’ Standard Account is very simple and easy to use. With this account, you can experience all the advantages of the broker’s raw pricing with a comprehensive spread (starting from 1 pip) and no commissions.

This account offers speed of execution with no rivals. IC Markets does not charge a commission on this account; instead, the broker marks up the spread received from its liquidity providers.


Islamic Accounts

The broker provides Islamic accounts (swap-free accounts) for its clients who are of the Islamic faith. These clients cannot receive or pay interest by reason of Sharia Law. This option is available on both IC Market’s Raw Spread and Standard account types on the MT4, MT5 and cTrader platforms.

More information on the broker’s different trading account types can be found on IC Markets’ website under their ‘Account Overview’ page.




IC Markets’ account opening process is very user-friendly, quick and fully digital. A trading account can be approved within a day. It takes roughly 10-15 minutes to complete the online registration process. 

In order to open a trading account with IC Markets, you can follow these steps below:

  1. Provide the broker with your contact information, such as your email address and phone number.
  2. Complete a registration form by providing some personal information, such as your date of birth and address.
  3. Choose your preferred trading account and decide on the base currency.
  4. Complete a survey on your trading experience.
  5. Verify your residency and identity by providing the broker with both a passport / ID and a bank statement / utility bill.
  6. The IC Market login option will now appear.

IC Markets minimum deposit amount is $200 USD. After verification of your trading account, you will be required to deposit a minimum of $200 USD, whereafter you can start trading.




IC Markets’ demo account is available on all account types and trading platforms. The demo and live accounts offer traders with similar trading experiences. However, demo accounts are mainly used by traders for familiarising themselves with a particular trading platform as well as for educational purposes.

Clients must note that IC Markets does not provide any assurance that the demo account performs exactly the same as a live account since the demo account is not linked to the broker’s live trading environment.

With a demo account, you will receive virtual money in order to trade risk-free. A demo account is developed with the purpose of serving as an educational tool in order for a trader to learn how a broker’s trading platform works without the risk of losing real money.

In order to add more funds to your demo account, you will need to go to ‘Account Summary’ at the ‘Accounts’ section of your secure Client Area on the website. Then you will need to go to your ‘Demo Accounts’ section where you can add virtual funds by selecting ‘Add Funds’. It must be noted that a demo account will be terminated after 30 days of inactivity.




IC Markets offers social copy trading through Myfxbook and on the ZuluTrade platform. Clients of IC Markets can choose between many great Zulu traders from approximately 192 countries around the world. Traders can also follow their trading signals for free.

Here are a few main reasons for choosing Zulu Trader

  • Zulu Rank – A sophisticated algorithm ranks Signal Providers by analysing their overall performance, exposure, maturity, stability and minimum equity required.
  • Zulu Guard – A highly advanced account protection feature that monitors the performance of your traders 24/7 and stepping in to protect your invested capital whenever needed.
  • Simulation – A powerful tool that allows you to test the potential profits or losses on your account, check your strategies and potential performance, before even going live.


Myfxbook AutoTrade

IC Markets has AutoTrade on offer for its clients. This is a copy trading (mirroring) account service which is held and ran by Myfxbook. With Myfxbook AutoTrade, you can copy the trades of any chosen system straight into your MT4 trading account.

When you want to use AutoTrade, there is no volume based fees payable. You also do not have to install any complex software. In order to use Myfxbook AutoTrade, you only need to link your trading account to Myfxbook and choose the system that you wish to copy.


What makes Myfxbook AutoTrade special?

  • You do not have to search for the best systems, since only selected systems are presented.
  • Since demo account holders cannot be signal providers, you can be rest assured that somebody also has their own money at risk.
  • Volume based incentives are not provided. This means that the system manager will be trading with the intent to be successful.
  • Accurate statistics are offered.
  • There are no hidden fees and you can expect transparent fees and services.
  • You have full control of your account and you can add or remove a system whenever you like.




The broker’s trading fees are low and there are no withdrawal or inactivity fees applicable. However, financing rates are fairly high for CFDs.

IC Markets has different cost structures for its different account types. The Raw Spread Account (True ECN account) charges a commission of $3.5 USD (on MT4 / MT5) per lot but offers tight spreads. The Standard Account has no commission fees.

IC Markets’ fee on deposits and withdrawals is $0 USD.




At IC Markets, traders can trade with a maximum leverage of 1:500. A leverage of 1:500 is one of the highest leverages that can be offered by a broker.

A maximum leverage of 1:500 allows retail traders to trade with a low opening deposit which covers margins. A trader must note that a high leverage can result in magnified profits, but a trader can also risk of losing funds which exceed his/her initial deposit.




IC Markets has great withdrawal and depositing services available to its clients. There are also no fees applicable for either depositing or withdrawing funds.

At IC Markets, you can choose between a number of currencies when making deposits and withdrawals, including USD, EUR, JPY, GBP, AUD, CHF, NZD, HKD, SGD and CAD.

It is important for clients to know that they may incur charges to and from certain international banking charges. IC Markets’ banking institution charges a fee of $20 AUD or equivalent to the currency through conversion when making a transaction via Bank Wire Transfer.



IC Markets does not charge any deposits fees and there are many deposit options to choose from. Some deposit options, however, do not support all account base currencies.

The following deposit options and supported currencies are offered by the broker:

  • Credit and Debit Cards: AUD, USD, JPY, EUR, NZD, SGD, GBP and CAD.
  • PayPal: AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD and CHF.
  • Neteller: USD, AUD, GBP, EUR, CAD, SGD and JPY.
  • Neteller VIP: AUD, GBP, EUR, CAD, SGD and JPY.
  • Skrill: AUD, USD, JPY, EUR, SGD and GBP.
  • UnionPay: RMB.
  • Wire Transfer: AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD and CHF.
  • Bpay: AUD.
  • FasaPay: USD.
  • Broker to Broker: AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, CHF and HKD.
  • POLI: AUD.
  • Thai Internet Banking: USD.
  • Rapidpay: EUR and GBP.
  • Klarna: EUR and GBP.
  • Bitcoin Wallet: BTC.
  • Vietnamese Internet Banking: USD.



Free IC Markets withdrawals can be expected for the following:

  • Credit or debit cards.
  • Bank transfers to Australian bank accounts.
  • Electronic wallets.


A fee of 20 AUD is charged by IC Markets’ banking institution when making a withdrawal via an international bank transfer. Withdrawals can only be made into accounts that are in your name.


How to withdraw funds from your IC Markets trading account?

  1. Log into your IC Markets Account.
  2. Go to ‘Transfers’ in the menu.
  3. Go to the drop-down menu and choose ‘Withdraw Funds’.
  4. Provide your bank account details.
  5. Type in the amount you wish to withdraw.
  6. Select the ‘Submit’ option.




The broker’s phone and email support are great; however, IC Market’s live chat option can do with some improvement. Overall, their customer support is very good.

IC Markets offers its customers multilingual support 24/7 through live chat, email and phone support. Furthermore, informative support centre is available where clients can be assisted with most of their questions.



  • Good phone support.
  • Quick response time.
  • Email support is great.
  • Great 24/7 availability.



  • The live chat option is slightly slow and could be better.


The broker provides multilingual customer support in a range of languages. These languages include English, Portuguese, Chinese, Italian, Indonesian, Spanish, Thai and Vietnamese.




Unfortunately, the brokerage does not offer its clients any kind of cashback or bonuses according to its website. However it must be noted that just because Brokersuggest.com could not find evidence of this, it does not mean that IC Markets does not offer promotions or won’t offer them in the future.




IC Markets offers a wide range of the research tools to its clients, namely the following:

  • Trading ideas – IC Markets provides great trading ideas.
  • Fundamental data – IC Markets does not offer fundamental data.
  • Charting – IC Markets has average charting tools.
  • News feed – IC Markets provides news feeds on the desktop trading platform.




IC Markets provides the following learning opportunities:

  • Demo account.
  • Platform tutorial videos.
  • General educational videos.
  • Webinars.
  • Quality educational articles.




  • Best FX Broker Customer Support (2023) – FxScouts.
  • Best Algo Trading (2023) – ForexBrokers.com.
  • Best MetaTrader (2023) – ForexBrokers.com.
  • Best Forex Broker Award (2020) – DayTrading.com.




IC Markets is regulated by Cyprus Securities and Exchange Commission (CySec) and the Seychelles Financial Supervisory Authority (FSA). Unfortunately, the broker does not provide negative balance protection. 

IC Markets is considered a safe broker as it is regulated and authorised by the ASIC and is also a member of the Financial Ombudsman Service (FOS).




IC Markets is a great CFD and forex broker. The broker’s forex fees are low and its account opening process is fast and stress-free. Free deposits and withdrawals are available which is also user-friendly.

The education section of the broker’s website is a benefit. On the negative side, IC Markets does not provide any investor or negative balance protection.

IC Markets is an innovative ECN broker that uses a combination of technology to search a network of equity providers to offer the best trading conditions for clients and fast execution technology.

With this IC Markets review, Brokersuggest.com can say with confidence that IC Markets is a top quality broker and should be highly considered by any potential traders.


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