IC Markets Review 2023

4.8
/ 5
IC Markets is #5 in our CFD broker rankings.

IC Markets offers a top-class environment for traders of all experience levels and strategies. Industry-leading platforms, superior pricing and flexible accounts will meet the needs of both beginners and active day traders.

- DayTrading Review Team

IC Markets is a respected multi-asset broker offering premium trading technology, highly competitive pricing and 24/7 customer support. The broker provides various social trading features for beginners whilst experienced traders can enjoy advanced charting and analysis tools. Over 180,000 clients from more than 200 countries have signed up with the heavily regulated and trustworthy brand.


Trusted

Demo Account

Copy Trading

Beginner Friendly
$200
MT4, MT5, cTrader, DupliTrade
CFD, Forex, Crypto, Futures
-
USD, EUR, GBP, CAD, AUD, JPY, CHF
PayPal, Neteller, Wire Transfer, Credit Card, Skrill
and 9 more

Forex Trading

Trade currencies with 0.0 pip spreads at one of the world's leading forex brokers. IC Markets is a great choice for serious traders with superior execution and low fees.

Stocks Trading

IC Markets offer access to 2000+ stocks from Australian and US markets - NASDAQ, NYSE and ASX. Earn dividends and trade on the popular MT5 platform.

CFD Trading

Trade CFDs 24/5 on popular markets including forex, commodities, indices, stocks and bonds. IC Markets offers deep liquidity, raw spreads and high leverage.

Crypto Trading

IC Markets offer a diverse range of cryptos, with super small spreads. They also offer many cryptocurrencies not available elsewhere, without the need of a virtual wallet.

Copy Trading

The IC Social app is easy-to-use and allows traders to learn, share and mirror positions in a few clicks. The app also hosts risk management tools and facilitates direct messaging and dedicated trading groups. Alternatively, IC Markets provides access to popular third-party copy trading tools - ZuluTrade and Myfxbook.

Awards

  • Best MT4/MT5 Broker 2023 - DayTrading.com
  • Best Forex Broker 2022 - DayTrading.com
  • Best Overall Broker 2020 - DayTrading.com
  • Best Trading App 2020 - DayTrading.com

✓ Pros

  • Low fees with spreads from 0.0 pips and zero commissions
  • Premium educational resources and trading tools including podcasts, forex calculators and tick charts
  • Beginner-friendly social trading features including IC Social, Myfxbook and Zulutrade
  • 15+ payment methods in 10 base currencies including PayPal and Skrill
  • Responsive 24/7 customer support plus an extensive help centre
  • Reliable MT4 and cTrader platforms and mobile apps
  • Fast order execution speed of under 40ms
  • High leverage up to 1:500

✗ Cons

  • No bonus deals for new traders
  • Traders from the US not accepted
  • Two-factor authentication not available for extra account security

IC Markets is a reputable and established online trading brokerage based out of Sydney Australia (Regulated by ASIC). The company was founded in 2007 and is owned and operated by International Capital Markets PTY, with their headquarters locates at L4, 50 Carrington Street, Sydney, NSW.

The online broker is well known in Australia and is considered to be the best online brokerage available in the Country as it offers the highest available leverage in Australia, low spreads and fees, and much more.

Read why you can trust DayTrading.com reviews. Last Updated: May 25 2023

The trading brokerage strives to bridge the gap between retail clients and big institutional investors by offering investment solutions that were once only offered by investment banks and high net worth individuals.

IC Markets primarily offers their traders forex trading, but also delves into some choices of futures, indices and commodities.

TR at Day Trading
Our experts found that IC Markets offer a flexible all-round package. From a choice of platforms, to the range of accounts, traders can find the setup that suits them and still benefit from quick execution and an established, reliable trading partner.

Regulation & Reputation

The IC Markets brokerage became licensed and regulated by the Australian Securities & Investments Commission (ASIC) in 2009 under licence number 335692.

The brand is known as one of the most reputable online trading brokers on the market. ASIC is a trustworthy and strict regulatory agency which imposes stringent guidelines and procedures for the platform to follow.

Also, in addition to ASIC regulation, the brokerage is a member of the Financial Ombudsman Service (FOS). This service allows clients of IC Markets to resolve any complaints they have in a prompt and professional fashion.

This gives traders an additional layer of protection and customer satisfaction by knowing they will be protected if any issues were to arise.

IC Markets also operates via two other regulated brands:

These brands offer traders to ability to seamlessly move between each, allowing them to choose the level of regulatory oversight and protection they are comfortable with

Trading Platforms

IC Markets offers their traders not one, but three high quality trading platforms to choose from. By offering three different trading platforms, traders are blessed with having a myriad of tools and analysis methods to execute their trades.

See the available platforms below.

MetaTrader4

The most popular trading platform with IC Markets is MetaTrader 4. The MetaTrader 4 platform provides traders with 1-click trading solutions and includes customisations for market depth analysis.

The platform features a number of technical indicators, advanced charting tools, a wide range of Expert Advisers and extensive back-testing options.

In addition, traders can trade on the go with MetaTrader4’s mobile apps for both Android and Apple, and also from any desktop via the web-based MetaTrader platform.

IC Markets MetaTrader4 platform

We tested all the available platforms on IC Markets. MT4 remains the most popular platform among active traders.

MetaTrader5

This platform is the most recent of the MetaTrader series, and basically is an upgraded and expanded version of the MetaTrader4 platform.

CTrader

This trading platform is custom made for a raw spread trading environment. This includes automated trading software and is available on mobile desktop and the web.

Traders who want to use auto-trading have three options to choose from; ZuluTrade, Myfxbook’s AutoTrade and Signal Trader’s mirroring technology.

IC Markets cTrader Platform

IC Social

IC Markets also offers a social trading app, IC Social. The Android and iOS-compatible application connects traders with instant messaging, interactive profiles, and trading groups. Users can also start copy trading – mirroring the positions and strategies of professional traders.

The app connects seamlessly with live MT4 accounts and is a good option for beginners looking to learn from established traders.

The USP:

What sets IC Market apart from other brokers, is their attention to the core function of executing trades and providing excellent service to traders. They deliver across a range of platforms, and all of them put the trader first.

Trading Accounts Offered

IC Markets provides their traders with 3 different account types tailored made to accommodate each trader’s needs. Traders can choose from a “Standard”, “Raw Spread”, or a “cTrader” account. The accounts have their differences, but basically all offer the same features.

The Raw spread account offers slightly lower spreads – but they are very low across all the accounts. Traders can also practice trading on with IC Markets via their live demo account. This account allows the trader to practice using virtual money in a live market environment.

In addition to these accounts, IC Markets offers the Raw Trader Plus solution for high-volume traders. This provides rebates on commissions as well as perks like VPS hosting and dedicated support.

Bonus & Promotion

Unfortunately, IC Markets do not offer their traders any sort of bonuses. However, this should not be viewed as a bad thing. The brokerage has built a strong reputation and are rightly proud of their offering.

They do not want to encourage overtrading, or misrepresent their products via incentives.

Assets

The IC Markets trading brokerage does not fall short in offering their clients a wide range of trading instruments and assets.

The brokerage offers over 80 instruments including currency pairs, CFDs on indices, stocks, commodities and futures, precious metals, and even the most popular cryptocurrencies, such as Bitcoin and Ethereum.

Forex is a huge part of the IC Markets offering.

The majority of the 90+ assets available to trade are currency pairs. This is backed up with leverage of up to 500:1 (leverage varies based on regulator, it is capped at 1:30 in Europe), lot sizes from just 0.01 (maximum lot size is 1, but traders can trade multiple lots).

On the cTrader platform, spreads can be reduced to 0.0, minimising commission and spread costs for frequent traders. Average spreads are extremely low, just 0.1 pips for EUR/USD for example. This can have a huge effect on day trading profits.

Customer Support

IC Markets excels in the area of customer support. They offering their clients multilingual support 24 hrs a day, 5 days a week via live chat, email, or through their global telephone support hotline.

In addition to this, there is an informative support centre where user can find the answers to most of their questions.

Deposit & Withdrawal

Deposits

IC Markets offers their traders a wide variety of deposit options in 10 different currencies. These include AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, and CHF. As for deposit options, they include Credit and Debit Cards, Bank Wire Transfers, Broker to Broker transfer, Branch Cash Deposit, BPay Deposit, PayPal, Skrill, Neteller, WebMoney, QIWI, China Union Pay, and FasaPay.

Most of these deposit methods are instant and can be done with multiple currencies.

Withdrawals

Withdrawals can be made via many of the same methods as deposits. Domestic bank transfers and e-wallet withdrawals can be processed within the same business day and are free of charge. As for international withdrawals, they can take up to 3-5 business days and cost $25 AUD.

IC Markets iPhone app platform

 

Are IC Markets Best for Day Trading?

IC Markets is a great brokerage for day trading due to several factors:

Accepted Countries

IC Markets accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use IC Markets from United States, Canada, Zimbabwe, Iran, Iraq, Ghana, Cote D’Ivoire, Cuba, Liberia, Niger, Togo.

Payment Methods

IC Markets Details

Minimum Trade 0.01 Lots
Regulated By ASIC, CySec, FSA
Account Types
  • DMA
  • MAM
  • PAMM
  • LAMM
Islamic Account Yes
Mobile Apps iOS, Android and Windows
Margin Trading No
Volatility Index Yes
Spot Trading Yes
Perpetual Swaps No
ELWs No
REITs Yes
AI / Machine Learning No
Robo Advisor No
P2P Trading No
Negative Balance Protection No
VPS Hosting Yes
Tournaments No
Demo Competitions No
Managed Accounts No
Market Maker No
Auto Trading Yes, via EQUINIX NY 4
Social Trading No
Trade Signals Yes (Via Robot Feature)
Inactivity Fee 0
Guaranteed Stop Loss No
Stock Exchanges
  • Deutsche Boerse
  • London Stock Exchange
  • SIX Swiss Exchange
Commodities
  • Gold
  • Oil
  • Orange Juice
  • Precious Metals
  • Silver

CFD Trading Details

FTSE Spread 1 pt
GBPUSD Spread 0.5 pips
Oil Spread 1 pt
Leverage ASIC and CySEC -1:30, FSA – 1:500, 1:1000 Elsewhere

Forex Trading Details

GBPUSD Spread 0.5 pips
EURUSD Spread 0.1 pips
EURGBP Spread 0.5 pips
Assets 56+

Cryptocurrency Trading Details

Crypto Spread BTC 0.4%, ETH 1%
Crypto Lending No
Crypto Staking No
Crypto Mining No
Crypto Auto Market Maker No
Crypto Coins
  • BCH
  • BTC
  • DASH
  • EMC
  • EOS
  • ETH
  • LTC
  • NMC
  • PPC
  • XRP

Compare IC Markets

Compare IC Markets with similar brokers that accept traders from your location. Among available brokers these are the most similar to IC Markets:

  1. IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
    Go to IG Group
  2. Forex.com – Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they offer a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
    Go to Forex.com
  3. Just2Trade – Just2Trade offer high-tech trading on stocks and options with some of the lowest prices in the industry.
    Go to Just2Trade

IC Markets Comparison Table

Compare IC Markets With Similar Brokers
IC Markets IG Group Forex.com Just2Trade
Rating 4.8 4.4 4.5 3.5
Markets Forex, Commodities, Crypto Forex, ETFs, CFDs, indices, shares, commodities, cryptocurrencies, options, futures, spread betting Forex, CFDs, Stocks, Indices, Commodities, Cryptos, Futures, Options Stocks, ADRs, ETFs, futures, options, commodities, bonds
Demo Account Yes Yes Yes Yes
Minimum Deposit $200 £250 $100 $100
Minimum Trade 0.01 Lots 0.1 lots $1 0.01
Regulators ASIC, CySec, FSA FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin CySEC, IIROC, NFA, CFTC, FCA, CIMA, CIRO CySEC, NFA, FINRA, Bank of Russia
Bonus Up to $2,000 for professional accounts
Education Yes Yes Yes No
Platforms MT4, MT5, cTrader, DupliTrade MT4, AutoChartist, TradingCentral MT4, MT5, TradingView, AutoChartist, TradingCentral MT4, MT5, TradingCentral
Leverage ASIC and CySEC -1:30, FSA – 1:500, 1:1000 Elsewhere 1:30 1:200 1:5 to 1:20
Payment Methods 14 6 8 20
Visit Visit Visit Visit
Review IC Markets
Review
IG Group
Review
Forex.com
Review
Just2Trade
Review

Compare Trading Instruments

Compare the markets and instruments offered by IC Markets and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare IC Markets Trading Instruments
IC Markets IG Group Forex.com Just2Trade
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks No Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No Yes No No
Silver Yes Yes Yes Yes
Corn No No No No
Crypto Yes Yes Yes Yes
Futures Yes Yes Yes Yes
Options No Yes Yes Yes
ETFs No Yes No Yes
Bonds No Yes No Yes
Warrants No Yes No No
Spreadbetting No Yes No No
Volatility Index Yes Yes No No

IC Markets vs Other Brokers

Compare IC Markets with any other broker by selecting the other broker below.

IC Markets vs

FAQ

Are IC Markets regulated?

Yes, they are licensed and regulated by the Australian Securities & Investments Commission (ASIC).

What methods can I use to deposit funds at IC Markets?

Credit and Debit Cards, Bank Wire Transfers, Broker to Broker transfer, Branch Cash Deposit, BPay Deposit, PayPal, Skrill, Neteller, WebMoney, QIWI, China Union Pay, and FasaPay.

In addition IC Markets now offer deposits and withdrawals via USD-T in certain regions, including Hong Kong and Thailand

Does IC Markets accept international traders?

Yes, but they do not accept traders from the United States and Canada.

Is there a fee for making a withdrawal?

There are no fees for domestic withdrawals and with e-wallets. International withdrawals do have a $20 AUD fee.

What is the minimum initial deposit requirement at IC Markets?

Traders are required to deposit an initial amount of $200.

IC Markets Trading Hours?

IC Markets operate alongside global markets. So trading will be available as an when markets around the world are open, so trading hours reflect markets hours. In terms of opening hours, the IC Support desk is open 24 hours a day, for 5 days a week.

Problems or Complaints

IC Markets do not generate many complaints. As a regulated brand, their policies are transparent and trader funds are separated from company funds.

One complaint often made against brokers is that of trader being “stopped out”. Stop outs occur when an asset price hits a trader’s stop out level – only to move favourably again after the trade is closed. This is a criticism of almost every broker, and is more a problem of setting stop loss levels too close to the market.

Other problems of the website being unavailable (“no connection” error for example) are largely more a questions of the trader connectivity rather than the broker. Server ‘up time’ is monitored and recorded. In our experience, it is very rare for the platform to be not working, but can happen.

Visit
IC Markets is a respected multi-asset broker offering premium trading technology, highly competitive pricing and 24/7 customer support. The broker provides various social trading features for beginners whilst experienced traders can enjoy advanced charting and analysis tools. Over 180,000 clients from more than 200 countries have signed up with the heavily regulated and trustworthy brand.