IC Markets Review 2026

The basic trading model

IC Markets operates as an ECN/STP, no-dealing-desk broker. Its accounts provide access to leveraged forex and derivatives across indices, commodities, shares, bonds and cryptocurrencies. The product mix is not the same as buying the underlying asset: share exposure is mainly through CFDs, which do not confer share ownership or voting rights; crypto exposure is generally through leveraged derivatives rather than wallet ownership. Index and bond exposure is also through derivatives rather than direct ownership.

Account choice determines how trading costs are presented. The Standard account builds the broker's charge into a wider spread and has no trading commission. Raw Spread accounts use spreads from 0.0 pips and charge commission; the MT4/MT5 and cTrader commission rates differ. The available account and platform combination therefore matters when comparing headline spreads.

IC Markets also supports copy trading through cTrader Copy, IC Social, ZuluTrade, MetaTrader Signals and Myfxbook AutoTrade. Algorithmic traders can use MetaTrader Expert Advisors, cTrader automation, cTrader Open API and FIX API access on request for professional and high-volume traders.

Important regional differences

The entity holding the account affects leverage and client protections. Maximum forex leverage reaches 1:1000 under the global entity, while retail clients under the EU, UK and Australian entities are generally limited to 1:30. The global entity's leverage limits also vary by instrument: cryptocurrency CFDs and indices can reach 1:200, while shares can reach 1:20. Professional status can change the limits where available; professional clients in the EU, UK or Australia may qualify for leverage up to 1:500, depending on the regulator.

Retail protections also depend on the entity. Eligible retail clients of IC Markets (EU) Ltd can access Cyprus ICF protection up to €20,000. Segregation applies across entities, but statutory compensation protection does not apply to accounts under the Australian or offshore jurisdictions described by IC Markets.

Trading costs

The Standard account uses spread-only pricing, with spreads starting from 0.8 pips. Raw Spread accounts advertise spreads from 0.0 pips but charge commission: $3.50 per standard lot per side on MetaTrader, or $3.00 per standard lot per side on cTrader. These starting spreads are not the same measure as the average spreads below.

Share CFDs carry commissions regardless of account type. US stock CFDs generally cost $0.02 per share, while UK share CFDs are charged at 0.10% of trade value.

Non-trading costs

IC Markets does not charge broker fees for deposits or withdrawals and does not charge an inactivity fee. Banks, card issuers and other payment providers may still apply their own charges. Currency conversion fees can apply when an instrument is denominated in a currency different from the account's base currency; transfers between wallets with different base currencies can incur conversion fees of approximately 1%–1.5% on top of the prevailing spot FX rate.

Positions held overnight may incur a swap charge or receive a credit, depending on the instrument. Triple swaps apply on Wednesdays for forex and metals, and on Fridays for most other CFDs. Swap-free accounts do not accrue standard interest, but fixed daily holding fees apply to some positions and instruments.

Cost takeaway

Raw Spread pricing makes the commission visible and may suit traders who prioritize narrow spreads, but the commission must be included when comparing total costs. Standard pricing is simpler to read because it has no trading commission, although its spreads start wider. Share CFD commissions and overnight charges add costs that are separate from the displayed forex spread.

Account options

IC Markets has Standard, Raw Spread and cTrader Raw Spread accounts, as well as Raw Pro and Raw Pro+ account labels. The last two are legacy or region-specific professional tiers rather than a standardized current global offering.

Choose between Standard and Raw Spread based on how you prefer to pay: a wider spread without trading commission, or a raw spread with a separate commission. The cTrader Raw Spread account has a different per-side commission from the MetaTrader Raw Spread account. IC Markets says the $200 initial funding threshold applies across its Standard and Raw Spread/Pro accounts, although opening an account can technically begin with less.

Platform choices

Base currency and account configuration

Account base currencies include AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD and CHF. Trading an instrument in a different currency from the account base can trigger a conversion fee, so matching the base currency to the currencies used for funding and trading can help limit conversion events.

Demo accounts are available. Islamic swap-free accounts are offered on Standard and Raw Spread accounts across MT4, MT5 and cTrader, but not through the EU branch. Fixed daily administrative fees apply to overnight positions in exotic currency pairs, Brent crude, WTI crude and natural gas. IC Markets may request proof of religious belief when reviewing an application for swap-free status.

IC Markets offers leveraged forex and derivatives across several asset classes. Share and cryptocurrency exposure is generally through CFDs or other leveraged derivatives, not ownership of shares or coins.

Order execution

IC Markets operates a no-dealing-desk model and routes orders to liquidity providers. The broker says its execution speeds average under 40 milliseconds, with servers in Equinix data centres in New York and London. Execution speed does not remove market risk: the final fill can differ from the requested price if the market moves between order submission and execution, particularly during volatile periods.

IC Markets permits news trading and says it does not impose minimum order-distance limits or freeze levels on the relevant trading setup. Spreads can widen around major announcements as liquidity changes, and slippage can occur during fast markets.

Leverage, margin and stop-out

Maximum leverage reaches 1:1000 under the global entity, but the amount available depends on the entity, product and account. Retail clients under the EU, UK and Australian entities are capped at 1:30. Maximum leverage also differs by market: cryptocurrency CFDs and indices can reach 1:200, spot metals up to 1:1000, soft commodities up to 1:100 and shares up to 1:20 under the global entity. Some high-volatility instruments can have dynamic margin requirements as position size increases.

The margin-call level is 100%, and the stop-out level is 50%. IC Markets uses the 50% stop-out level to close positions automatically as margin falls. Retail clients generally receive negative balance protection, but eligibility depends on the entity and client classification; professional clients may not qualify.

Trading restrictions

Scalping, hedging, news trading and automated strategies are allowed. Hedging is supported on MT4, MT5 and cTrader, and simultaneous long and short positions can be held on the same instrument. Expert Advisors are supported on MetaTrader; cTrader automation, cTrader Open API and FIX API access are also available, with FIX API offered on request to professional and high-volume traders.

IC Markets describes its setup as having no minimum order distance and zero freeze levels. Those features allow orders and related levels to be placed close to the current market price, but do not prevent slippage or spread widening during volatile conditions.

Day-to-day usability

There is no proprietary IC Markets retail platform; traders use third-party software. Desktop platforms provide the fullest automation workflows: MetaTrader EA development and testing are desktop/VPS-centric, while cTrader cBot creation, backtesting and optimisation are centered on Windows and Mac. TradingView supports Pine strategies, alerts and webhooks, but unattended live execution requires a compatible broker, API or bridge.

IC Markets offers VPS hosting through partners including ForexVPS, Beeks FX VPS, CNS and New York City Servers. Sponsored VPS access is available when an account maintains at least $2,000 or trades at least 15 standard lots in forex and metals per month.

1. Eligibility

IC Markets does not accept clients from a range of jurisdictions. Restrictions include the United States, New Zealand, Russia, Belarus, Cuba, Iran, North Korea, Syria, Yemen and Zimbabwe, as well as other countries and territories. The entity available to you also affects account terms and protections.

2. Registration

Choose an account type and trading platform, then complete registration through IC Markets. Standard, Raw Spread and cTrader Raw Spread have different pricing and platform combinations. A demo account is also available.

3. Verification

IC Markets requires identity and anti-money-laundering verification for live accounts before deposits, trading or withdrawals. Applicants typically submit a government-issued photo ID and recent proof of residence, such as a utility bill, bank statement or tax statement issued within the last three to six months. Corporate accounts and some jurisdictions may require additional documents.

4. Initial funding

Most live accounts require an initial deposit of $200 or the equivalent in another currency. IC Markets says account opening can technically begin with less, but the $200 threshold applies across its Standard and Raw Spread/Pro accounts. The listed funding options in the deposit section each have a $200 minimum.

5. Getting ready to trade

Once verification is complete, fund the account and connect through the selected platform. Check the account's legal entity, leverage and product access before placing trades, since these can vary by jurisdiction and asset class. A demo account can be used before trading with live funds.

Deposits

IC Markets does not charge an additional broker fee for the deposit methods below. Payment-provider or bank charges may still apply. Deposit processing and expected settlement times are shown separately.

Method	Minimum	Broker Fee	Broker Processing	Expected Settlement
Mastercard	$200	No additional IC broker fee	Instant	Instant
Visa	$200	No additional IC broker fee	Instant	Instant
PayPal	$200	No additional IC broker fee	Instant	Instant
Skrill	$200	No additional IC broker fee	Instant	Instant
Union Pay	$200	No additional IC broker fee	Instant	Instant
Wire Transfer	$200	No additional IC broker fee	2–5 business days	2–5 business days
POLi	$200	No additional IC broker fee	Instant	Instant
Klarna	$200	No additional IC broker fee	Instant	Instant
Bitcoin	$200	No additional IC broker fee	Instant	Instant
Ethereum	$200	No additional IC broker fee	Instant	Instant
Tether	$200	No additional IC broker fee	Instant	Instant
Neteller	$200	No additional IC broker fee	Instant	Instant
Fasapay	$200	No additional IC broker fee	Instant	Instant
USD Coin	$200	No additional IC broker fee	Instant	Instant

Withdrawals

IC Markets does not charge an additional broker fee for the withdrawal methods below, though intermediary or beneficiary bank charges may apply. Processing time refers to the broker's handling; settlement can take longer, particularly for card and bank-wire payments.

Method	Minimum	Broker Fee	Broker Processing	Expected Settlement
Mastercard	No broker-set minimum	No additional broker fee, intermediary/beneficiary bank charges may apply	Typically 3–5 working days	Typically 3–5 working days
Visa	No broker-set minimum	No additional broker fee, intermediary/beneficiary bank charges may apply	Typically 3–5 working days	Typically 3–5 working days
PayPal	No broker-set minimum	No additional broker fee, intermediary/beneficiary bank charges may apply	Usually within 1 working day	Usually within 1 working day
Skrill	No broker-set minimum	No additional broker fee, intermediary/beneficiary bank charges may apply	Usually within 1 working day	Usually within 1 working day
Wire Transfer	No broker-set minimum	No additional broker fee, intermediary/beneficiary bank charges may apply	Typically 3–5 working days	Usually several business days
Neteller	No broker-set minimum	No additional broker fee, intermediary/beneficiary bank charges may apply	Usually within 1 working day	Usually within 1 working day

Card withdrawals can take three to five working days and may take up to 10 working days. International bank wires can take longer, with some routes taking up to 14 days. The processing and settlement estimates are not guarantees of immediate receipt.

Availability

IC Markets offers support 24/7 by email, phone and live chat. The broker's support languages include English, Simplified and Traditional Chinese, Thai, Indonesian, Korean, German, French, Spanish, Vietnamese, Russian, Arabic, Italian, Bulgarian, Croatian and Japanese.

How traders can get help

Traders can contact support through live chat, email at [email protected] or the phone number +248 467 19 76. The Help Center is also part of the broker's educational and support resources.

Support limitations

Customer feedback describes support as generally dependable, with frequent praise for quick responses and practical guidance. Some traders report difficulty getting useful help through direct support channels, although those reports are less common than positive experiences.

IC Markets operates through entities associated with Australia, Cyprus, Seychelles and the Bahamas. The legal entity holding an account determines the applicable regulator and protections; the Cyprus compensation scheme does not apply globally.

Legal entities and regulators

Client money protections

IC Markets says client money is held in separate trust and client-money accounts, apart from operational funds. Segregation is not the same as compensation protection: eligible retail clients of IC Markets (EU) Ltd may receive Cyprus ICF coverage up to €20,000, while Australian and offshore accounts do not carry a statutory compensation scheme in the terms described by the broker.

Negative balance protection is generally available to retail clients, particularly under regulated entities such as the EU entity. Eligibility depends on the account's legal entity and client classification; professional clients may not qualify. IC Markets also uses a 50% margin stop-out level, but that risk-control measure does not guarantee against losses.

Company transparency

IC Markets was founded in 2007, is headquartered in Australia and is not publicly traded.

Important distinction

Segregated accounts and eligible ICF coverage relate to broker failure and client-money protection. They do not protect against losses from market movements, leverage or trading decisions.

What the headline claim suggests

Raw spreads from 0.0 pips and maximum leverage up to 1:1000 can appear to define the same offer for every trader. They do not: Raw Spread pricing includes commission, and the leverage ceiling depends on the legal entity, instrument and client classification.

What happens in practice

Standard accounts avoid trading commission but start from wider spreads, while MetaTrader and cTrader Raw Spread accounts charge different per-side commissions. Retail clients under the EU, UK and Australian entities are generally capped at 1:30 rather than 1:1000. The EU entity also has an ICF protection scheme for eligible retail clients, while Australian and offshore accounts do not have a statutory compensation scheme in the protections described by IC Markets.

Who should care most

Traders comparing advertised leverage or spreads across brokers should first identify the entity that would hold their account and calculate costs using their intended platform and trading style. The distinction is especially relevant to retail clients in the EU, UK and Australia, where leverage is materially lower than the global maximum.

Practical example

A retail client under the Australian entity is generally limited to 1:30, even though the global entity offers forex leverage up to 1:1000. A trader choosing a Raw Spread account also pays commission in addition to the spread, unlike a Standard account with no trading commission.

Consider IC Markets if you...

• Scalp or trade around news and want a broker that permits those strategies.
• Use Expert Advisors, cTrader automation, APIs or VPS hosting for algorithmic strategies.
• Want to choose between commission-free Standard pricing and raw-spread accounts with separate commissions.
• Trade across forex, indices, commodities, share CFDs, bonds or cryptocurrency derivatives.

You may want to look elsewhere if you...

• Need a low initial funding threshold: most live accounts require $200.
• Want a proprietary retail platform rather than third-party software.
• Expect the global 1:1000 maximum to apply to a retail account under the EU, UK or Australian entity, where the general retail cap is 1:30.
• Require a statutory compensation scheme for an account outside the eligible Cyprus ICF coverage.

IC Markets' strongest proposition is its choice of raw-spread accounts, established third-party platforms and permission for scalping and algorithmic trading. Its main compromise is that pricing, leverage and protections depend on the account type and legal entity, while most live accounts require $200 to fund. Traders who value platform and execution flexibility and are prepared to check their entity-specific terms are the likeliest to accept that trade-off.

This review assesses account pricing, average spreads, instrument coverage, platform functionality, funding terms, leverage rules, legal entities and client protections. Broker-reported execution details and client-feedback summaries are distinguished from regulatory records and account specifications; no personal trading test is claimed here. For more detail on how brokers are assessed, see our review methodology.