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.


Demo Account

Copy Trading

Beginner Friendly
MT4, MT5, cTrader, DupliTrade
CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
PayPal, Neteller, Wire Transfer, Credit Card, Skrill
and 10 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.

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 Signal Start, plus popular third-party copy trading tools - ZuluTrade and Myfxbook.


  • 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, Zulutrade and Signal Start
  • 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: November 7 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.


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.


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


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.


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


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 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:


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.

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 & Windows
Margin Trading Yes
Volatility Index Yes
Spot Trading Yes
Perpetual Swaps No
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 Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade
Social Trading No
Trade Signals Signal Start
Inactivity Fee $0
Guaranteed Stop Loss No
  • Gold
  • Oil
  • Orange Juice
  • Precious Metals
  • Silver

CFD Trading Details

FTSE Spread 1
GBPUSD Spread 0.5
Oil Spread 0.03
Stocks Spread 0.02
Leverage 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)

Forex Trading Details

GBPUSD Spread 0.5
EURUSD Spread 0.1
EURGBP Spread 0.5
Assets 55+

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

Top 3 Alternatives to IC Markets

Compare IC Markets with the top 3 similar brokers that accept traders from your location.

  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. Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
    Go to Just2Trade
  3. Kwakol Markets – Kwakol Markets is a Nigerian headquartered broker with strong regulatory oversight in Australia and Canada. A great selection of asset classes are available, including synthetic products that simulate realistic market activity. Clients can trade on the MT4, MT5 and cTrader platforms, as well as a copy trading solution whereby a fee is only paid on profitable trades.
    Go to Kwakol Markets

IC Markets Comparison Table

Compare IC Markets With Similar Brokers
IC Markets IG Group Just2Trade Kwakol Markets
Rating 4.8 4.4 3.5 4.5
Markets CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds CFDs, Forex, Stocks, Indices, Commodities, Crypto
Demo Account Yes Yes Yes Yes
Minimum Deposit $200 $0 $100 $1
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Bonus Up to $2,000 for professional accounts
Education Yes Yes No No
Platforms MT4, MT5, cTrader, DupliTrade MT4, AutoChartist, TradingCentral MT4, MT5, TradingCentral MT4, MT5, AutoChartist
Leverage 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) 1:30 (Retail), 1:250 (Pro) 1:20 1:1000
Payment Methods 15 6 20 4
Visit Visit Visit Visit
Review IG Group
Kwakol Markets

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 Just2Trade Kwakol Markets
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 Yes
Silver Yes Yes Yes Yes
Corn No No No No
Crypto Yes Yes Yes Yes
Futures Yes Yes Yes No
Options No Yes Yes No
ETFs No Yes Yes No
Bonds No Yes Yes No
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.


Customer Reviews

  4 / 5

This average customer rating is based on 2 IC Markets customer reviews submitted by our visitors.

If you have traded with IC Markets we would really like to know about your experience - please submit your own review. Thank you.


This is one of the better day trading brokers I’ve used. The MetaTrader package is fast and reliable with excellent charting tools. I did try IC Social though and thought it wasn’t as good as eToro’s app.

✍ Juan | 🌐 Spain | November 27, 2023

IC Markets is great for day traders. I’ve been impressed with the fast and reliable execution, plus the ECN pricing with really low spreads. Market research could be better but it’s not a dealbreaker for me.

✍ Rhys L | 🌐 Wales | November 16, 2023

Submit Your Own Review of IC Markets

If you have experience trading with IC Markets please share your personal review of the broker and what you think are strong and weak points. Thank you.

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.