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IC Markets Review 2026

Written By

Christian Harris

Written By

Christian Harris

Broker Analyst and Editor

Christian is an active trader with over 7 years of experience across stocks, futures, forex, and crypto. A former tech journalist, he shifted to finance to pursue his passion for investing, eventually becoming an eToro Popular Investor. With real-world trading knowledge across multiple asset classes, he brings valuable, hands-on insights to the table. Christian has spent over 2,000 hours testing dozens of online trading brokers.

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Edited By

James Barra

Edited By

James Barra

Head of Content

James is Head of Content and a brokerage expert with a background in financial services. A former management consultant, he's worked on major operational transformation programmes at top European banks. A trusted industry name, James's work at DayTrading.com has been cited in publications like Business Insider.

» James Barra Profile Page

Fact Checked By

Tobias Robinson

Fact Checked By

Tobias Robinson

CEO and Head of Broker Testing Panel

Tobias is the CEO of DayTrading.com, an active investor, and a brokerage expert. He has over 30 years of experience in financial services, including supervising the reviews of more than 500 trading brokers, and contributing via CySEC to the regulatory response to digital options and CFD trading in Europe. Tobias' expertise make him a trusted voice in the industry, where he's been quoted in various financial organizations and outlets, including the Nasdaq.

» Tobias Robinson Profile Page

Updated

Apr 16, 2026

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IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders.

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Customer Reviews

Minimum Deposit $200

Trading Platforms MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower

Instruments CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto

Regulators ASIC, CySEC, CMA, FSA, SCB

Account Currencies USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

Payment Options PayPal, Skrill, Neteller, Visa, UnionPay, Wire Transfer, Rapid Transfer, Mastercard, POLi, BPAY, Credit Card, Klarna, Swift, SafeCharge

Awards

• Best MT4/MT5 Broker 2025 - DayTrading.com
• 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

• You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
• IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.
• IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
• As a tightly regulated and widely respected broker, IC Markets prioritizes client security and transparency, helping to ensure a reliable trading experience globally.
• IC Markets secured DayTrading.com's 'Best MT4/MT5 Broker' in 2025 for its seamless, industry-leading MetaTrader integration, refined over years to maximize the platform experience.

Cons

• The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
• Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
• Interest isn't paid on unused cash, an increasingly popular feature found at alternatives like Interactive Brokers.
• There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
• While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.

IC Markets aims to narrow the divide between retail clients and institutional investors by providing trading solutions previously exclusive to investment banks and high-net-worth individuals. In this review, we’ll see if it succeeds, drawing on our own experience trading at IC Markets over several years.

Regulation & Trust

Across multiple rounds of tests, IC Markets stands out as a credible broker because of its:

Weighing the negatives, IC Markets:

Most warnings connected to IC Markets concern clone websites, impersonation attempts, or offshore entities being marketed into jurisdictions where they are not licensed, rather than fraud by the broker’s main operating companies. A notable historic regulatory event is the 2019 Ontario Securities Commission settlement over CFDs being offered to Ontario investors without the required registration, while the more recent notable legal issue is the Australian class action filed in 2024, which IC Markets has denied.

More details on IC Markets’ different global entities, safeguards, and any warnings can be found further down in this review.

Accounts & Banking

Trading Accounts

IC Markets offers two distinct account types tailored to suit the particular needs of your trading style: Standard and Raw Spread (MetaTrader or cTrader/TradingView), alongside its Starter option. It also introduced Raw Pro and Raw Pro+ accounts in 2025, catering to advanced traders with even more competitive pricing.

While each account has its unique features, they essentially provide the same functionalities. The Raw Spread account boasts slightly lower spreads best suited to scalpers, although spreads are very competitive across all account types.

You can also hone your skills with IC Markets’ demo account, allowing you to practice trading with virtual funds in a real market environment for 30 days.

Importantly, opening an account is a snap and the fully-digital process can be done within a few minutes, ensuring a hassle-free sign-up process. The only delay is waiting for approval, which can take up to 24 hours due to time zones.

We’ve compiled a detailed review of IC Markets’ ECN-type account options, given their appeal to active day traders.

Deposits & Withdrawals

IC Markets continues to excel with its fast, convenient and low-cost account funding.

The broker offers a diverse range of deposit options across 10 different currencies (depending on your account jurisdiction), including AUD, USD and EUR. This far surpasses most brokers, such as eToro, which only offers a USD base currency.

The major benefit of opening an account using your preferred base currency is that you won’t incur a conversion fee if you fund your trading account in the same currency as your bank account, or if you trade assets in the same currency as your trading account’s base currency.

Deposit options are also flexible (depending on your account jurisdiction) and encompass debit cards, bank wire transfers, broker-to-broker transfers, branch cash deposits, and a huge range of digital wallets, notably PayPal, Skrill, Klarna, and BPay Deposits (AUD only).

Every time I’ve made a deposit to IC Markets over the years, my deposits have been near instantaneous – even using different currencies and payment methods.

Christian Harris

Author

As with other brokers, things slow down when it comes to withdrawals. You can only withdraw money to accounts in your name, and you have to use the same methods as deposits until you have withdrawn more than your initial deposit.

From my experience, debit card and e-wallet withdrawals are typically processed within the same business day, are free of charge, and take up to 3-5 business days. Bank transfers are a little slower and can incur a $20 charge, which is why I avoid them wherever possible.

Assets & Markets

IC Markets specializes in forex and CFDs, making it excellent for short-term traders. However, it does mean that some popular asset classes like real stocks, real ETFs, or options, aren’t offered, deterring longer-term investors.

With over 2,250 instruments available, including currency pairs (75), CFDs on indices (25), stocks (2,100), commodities (28), ETFs (4), bonds (9) and popular cryptocurrencies (13), the brokerage offers ample trading opportunities.

Lot sizes start from just 0.01, catering to beginner traders, while the maximum lot size is 100.

High leverage up to 1:1000 is available, providing significant purchasing power for experienced traders, although it’s capped at 1:30 in Europe and Australia in line with regulatory requirements.

Fees & Costs

Year after year IC Markets excels as one of the best brokers for tight spreads and low trading fees.

The spread for major currency pairs like EUR/USD can start from as low as 0.0 pips in the Raw Spread account, with an associated commission of $3.50 per standard lot traded. Average spreads, which are a more reliable cost indicator, are also exceptionally low, such as 0.1 pips for EUR/USD, which can significantly impact day trading profitability.

The Raw Pro and  Raw Pro+ accounts also slash commissions to just $3.00 and $2.00 per lot per side respectively – some of the lowest we’ve seen.

IC Markets also delivers excellent pricing across stocks, indices and commodities. We’ve recorded spreads on a range of instruments and compared them with alternatives, and as you can see from the analysis below, IC Markets matches or beats most brokers.

Overnight fees are also low and there is no monthly inactivity fee penalizing casual traders.

Looking at the negatives, IC Markets doesn’t offer interest payments on cash balances, unlike eToro or Interactive Brokers, which allow idle funds to generate returns.

Also, while the broker doesn’t typically charge deposit fees, withdrawal fees can vary depending on the method used. Bank wire withdrawals, for example, can incur a steep fee of $20 per transaction.

Platforms & Tools

The biggest barrier to entry for beginner traders using IC Markets is the absence of its own trading platform to help simplify the trading experience. Fortunately, it makes up for this limitation by supporting four of the best third-party trading platforms: MetaTrader 4, MetaTrader 5, cTrader and TradingView.

MetaTrader is probably the most popular choice among traders, even if its interface is outdated and unintuitive in my opinion. It offers extensive customizations for market depth analysis, a wide range of technical indicators, advanced charting tools, Expert Advisors, and extensive back-testing options.

The charting capabilities of cTrader are equally impressive and it’s my personal go-to platform of choice due to its slick interface that makes trading quick and easy.

MetaTrader and cTrader both feature a wide range of default indicators and additional algorithmic plugins. cTrader further adds copy trading features if you’d like to replicate the trades of more experienced traders.

IC Markets recently elevated its offering by adding support for trading directly within TradingView, the market-leading charting platform. TradingView distinguishes itself with its intuitive design, providing a customizable interface that allows for effortless adjustments to layouts, color themes, and technical indicators.

Its advanced charting features offer a diverse array of user-friendly tools and indicators suitable for traders of all experience levels, from beginners to seasoned professionals.

TradingView is also renowned for its vibrant social community, which enables traders to connect globally. You can share market insights, educational content, and video ideas, while also following peers to exchange strategies.

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.

Christian Harris

Author

You can access MetaTrader, cTrader and TradingView platforms via their own independent mobile apps for Android and Apple devices, as well as through their web-based platforms on any desktop.

Research

IC Markets has some great research tools, providing trading ideas grounded in technical analysis, news updates, and effective charting tools, but its research offerings still lag behind those of category leaders like IG.

The broker publishes several articles daily on its blog, covering technical and fundamental forecasts. While the quality of this content is good, it doesn’t quite match the depth offered by industry leaders, which helps aspiring traders discover opportunities and provide a more complete user experience.

The most valuable addition based on my countless hours using IC Markets is the technical analysis and trading ideas from third-party providers Autochartist and Trading Central. Accessed from your account page or from within a supported charting tool such as cTrader, you can view trade setups and even make trades based on automated setups with just a few clicks (take profit and stop loss included).

The news feed, ‘Market Buzz’, is another useful feature that provides analytics and sentiment indicators from Trading Central. Entering an individual symbol or name into the search box lets you isolate news for that specific asset, which is really useful if you are tracking an index or currency pair, for example.

Education

IC Markets provides a decent range of trading tutorials, webinars, and other educational resources aimed at helping beginner traders understand the basics of trading, risk management, and market analysis.

But the variety and presentation of the materials just isn’t up to scratch compared to other major brokers, notably CMC Markets and XTB.

Another disappointment is that these resources are inconveniently accessed from IC Markets’ blog rather than your account page, so many traders probably won’t even know they exist.

Ultimately, IC Markets has room for improvement in its educational resources. I would like to see it enrich its offerings by introducing courses with progress tracking, quizzes, and the option to filter content based on your experience level. And making all this content accessible from a trader’s own account page would also be more intuitive.

Customer Support

IC Markets stands out for its robust customer support that helps create a dependable trading environment. It provides multilingual assistance 24/5 through live chat, email, and a global telephone support hotline.

Over the years of trading at IC Markets, I’ve found its support to be reliable and efficient, especially when it comes to accounts and banking issues. In fact, I’ve found its customer service to be one of the best of all the brokers I have used.

Any minor issues I’ve encountered were promptly addressed by helpful live chat staff almost instantaneously, or within a couple of hours by e-mail support for more technical issues. I’ve never had the need to phone the company.

The only issue I have found is that the technical knowledge of live chat agents is fairly limited, often requiring a follow-up email to be sent to technical support. But just knowing there is a human contact to chat to while the markets are open helps to enforce confidence in the broker.

Entities, Safeguards & Warnings

List Of IC Markets Entities

IC Markets operates through several licensed companies, however it’s important to confirm exactly which one will hold your account because the level of oversight and investor protection changes between branches. Check this:

International Capital Markets Pty Ltd (ASIC)

• Entity URL: https://www.icmarkets.com/au/en/
• Verify License: 335692
• Regulator Classification (Green to Red): ASIC Australia (green tier – strong safeguards)
• Protections: Segregated client money, retail negative balance protection, leverage caps from 1:30 to 1:2, margin close-out protections, inducement ban, AFCA dispute resolution, but no compensation scheme.
• Who Gets Signed Up Under This Entity: Australian traders and some eligible clients in tightly regulated regions where the ASIC entity is used.

IC Markets (EU) Ltd (CySEC)

• Entity URL: https://www.icmarkets.eu/en/
• Verify License: 362/18
• Regulator Classification (Green to Red): CySEC Cyprus (green tier – strong safeguards)
• Protections: Leverage caps from 1:30 to 1:2, negative balance protection, 50% margin close-out rule, ban on promotions, Investor Compensation Fund cover up to €20,000.
• Who Gets Signed Up Under This Entity: EEA and broader European retail traders who are onboarded through the Cyprus arm.

IC Markets (KE) Limited (CMA)

• Entity URL: https://www.icmarkets.com/global/en/
• Verify License: 199
• Regulator Classification (Green to Red): CMA Kenya (yellow tier – moderate safeguards)
• Protections: Local regulatory oversight and client money rules apply, but protections are generally lighter than under ASIC or CySEC and leverage can be higher.
• Who Gets Signed Up Under This Entity: Kenyan traders and some clients across Africa where the local CMA-regulated entity is offered.

Raw Trading Ltd (FSA)

• Entity URL: https://www.icmarkets.com/global/en/
• Verify License: SD018
• Regulator Classification (Green to Red): FSA Seychelles (red tier – weak safeguards)
• Protections: Segregated client money and high leverage availability up to 1:1000, but no statutory compensation fund and fewer formal retail protections than top-tier regulators.
• Who Gets Signed Up Under This Entity: Many international traders outside the broker’s more tightly regulated jurisdictions.

IC Markets Ltd (SCB)

• Entity URL: https://www.icmarkets.com/global/en/
• Verify License: SIA-F214
• Regulator Classification (Green to Red): SCB Bahamas (red tier – weak safeguards)
• Protections: Segregated client money and higher leverage up to 1:500, but legal safeguards are lighter than under ASIC and CySEC and there is no investor compensation scheme.
• Who Gets Signed Up Under This Entity: Global clients who are not placed under the Australian, Cyprus or Kenya entities.

Important: Verify Your Entity & URL

Make sure you are signing up with the correct legal entity for your region and using the right URL. Brokers’ websites can redirect users automatically based on their IP address, device location, or language settings. If you are travelling or using a VPN, you may be shown a version of the site tied to a different subsidiary than the one that should apply to you.

For example, an Australian resident should normally make sure they are dealing with International Capital Markets Pty Ltd via https://www.icmarkets.com/au/en/ to receive ASIC retail protections. A European client should expect onboarding through IC Markets (EU) Ltd at https://www.icmarkets.eu/en/ if they want CySEC protections and access to the Investor Compensation Fund. Opening an account under the Seychelles or Bahamas branches can mean giving up these specific safeguards.

I recommend always using a broker’s local, regulated entity. Registering with an offshore branch puts your investment at risk by bypassing the legal protections that may be mandated in your country.

William Berg

Securities Law Expert

Watch for Clone Scams

Fraudsters have repeatedly tried to exploit the IC Markets name using copycat domains, fake support channels, and sites that borrow the broker’s real registration details. Examples of possible clone sites include:

• icmarketpro.com, icm-market.com, i-cmarketz.com, ic-forexmarket.com, or icmarketspartners.com
• internationalcapital-markets.com
• demiunox.com (used in an impersonation warning tied to the ASIC-regulated International Capital Markets Pty Ltd)

Such websites may try to obtain deposits, identity documents, or login credentials. Before sending money, inspect the URL carefully and check whether the entity and licence number shown in the footer actually match the official regulator register. If anything looks unusual, leave the site immediately.

A legitimate IC Markets website will normally identify the exact legal entity and licence in the footer or legal documents, for example ASIC AFSL 335692, CySEC CIF 362/18, FSA Seychelles SD018, or SCB Bahamas SIA-F214. But that alone is not enough to prove a site is genuine because scammers often copy footer disclosures too. The best approach is to verify that the domain in your browser matches the official IC Markets domain exactly before you log in, upload documents, or make a deposit.

Regulatory Alerts

IC Markets is generally well regarded in the industry, and the bulk of public warnings linked to the brand involve impersonators, clones, or offshore marketing into jurisdictions where the relevant entity is not licensed. We actively monitor global databases, including IOSCO’s Investor Alert Portal (I-SCAN), to follow and alert users to any threats.

Should You Trade With IC Markets?

IC Markets continues to be my go-to forex broker. The tight spreads, quick execution, and hassle-free banking options are hard to beat.

If you are an experienced trader seeking a cost-effective and regulated forex/CFD broker that lets you use your own favorite charting tools and trading algorithms, Australia-based IC Markets is one of the best choices.

FAQ

Is IC Markets Legit Or A Scam?

IC Markets is a legitimate and reputable online trading broker and I’ve traded with the company for over four years with no problems whatsoever.

Additionally, IC Markets has a track record of providing transparent services to its clients, backed by strong regulatory oversight and adherence to industry standards, making it a trustworthy option for forex and CFD traders.

Is IC Markets A Regulated Broker?

IC Markets is regulated by multiple regulatory authorities, including the Australian Securities & Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the Capital Markets Authority (CMA) in Kenya, the Securities Commission of The Bahamas (SCB), and the Financial Services Authority (FSA) in the Seychelles. However, only the ASIC and CySEC are considered ‘green tier’ in our regulator classification system.

Is IC Markets Suitable For Beginners?

IC Markets may not be the most suitable option for complete beginners due to the fact it doesn’t provide its own trading platform, nor does it provide much in the way of education. It’s catered more towards experienced traders who want low trading costs and support for their favorite third-party charting tools.

Complete beginners would be better off with Plus500 or eToro.

Does IC Markets Offer Low Fees?

IC Markets offers very competitive fees for forex and CFD trading. The broker typically charges low spreads, averaging near 0.1 pips on some major currency pairs, making it amongst the lowest in the industry.

IC Markets also provides commission-based pricing options, allowing you to choose the fee structure that best suits your trading preferences. Overall, it’s an excellent choice for cost-conscious traders.

Is IC Markets A Good Broker For Day Trading?

IC Markets is an excellent broker for day trading due to its competitive pricing, fast execution speeds, and wide range of tradable instruments. The broker offers low spreads, which is vital if you are looking to capitalize on small price movements.

Furthermore, IC Markets provides access to advanced trading platforms including MT4/MT5, cTrader and TradingView, which offer robust charting tools, technical indicators, and order types suitable for day trading strategies.

Does IC Markets Have A Mobile App?

IC Markets doesn’t offer its own proprietary trading platform, so you’ll have to use the mobile versions of one of the supported third-party charting tools: MT4/MT5, cTrader or TradingView.

It does, however, have a standalone copy trading app called IC Social (Powered by Pelican Trading), that lets you replicate the trades of other traders automatically.

It’s also worth noting that ZuluTrade is supported for copy trading in certain jurisdictions, which also has its own mobile app.

Best Alternatives to IC Markets

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

1. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to over 170 markets across 40 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
   Go to Interactive Brokers
2. FOREX.com – Founded in 2001, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
   Go to FOREX.com

IC Markets Comparison Table

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.

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