Is IC Markets An ECN Broker?
IC Markets operates in a similar way to an ECN broker but is not an ECN broker in the strictest sense. IC Markets offers the same pricing and core benefits as an ECN broker and, for most traders, they may as well be considered an ECN broker. This is because they use an ECN pricing model and source their prices from unrelated liquidity providers, but they do not actually send the trades through to those providers.
- IC Markets offer pricing and benefits comparable to those of an ECN broker.
- IC Marker is not a true ECN broker because they do not send the trades through to independent liquidity providers.
IC Markets‘ ‘Raw Spread’, ‘Raw Spread cTrader’, and newer ‘Raw Spread Pro’ and ‘Raw Spread Pro+’ accounts are ECN-style accounts that offer the same main benefits as true ECN accounts and can be considered ECN accounts for most practical purposes.
However, if you want a broker that operates a strict, pass-through ECN model and offsets all positions directly with external liquidity providers, IC Markets is not the right choice. If that is the case, you should look for a broker that explicitly offers true ECN accounts.
IC Markets themselve say: “We consider ourselves to be a forex provider offering the ECN pricing model as we source our pricing from external unrelated liquidity providers, these prices are passed onto you with no dealing desk intervention. In order to provide you with better price certainty and to ensure fast execution speed we do not offset each and every position with our liquidity providers.”
ECN-Style Account Options
Here’s a comparison of the ECN style trading accounts available at IC Markets in 2026:
| Account | Platform(s) | Spread model | Commission (typical) | Day Trader Considerations |
|---|---|---|---|---|
| Raw Spread | MT4 / MT5 | Raw spreads from 0.0 | $3.5 per lot per side (~$7 round turn) | Established ECN-style default for MetaTrader day traders and EAs |
| cTrader Raw Spread | cTrader / TradingView | Raw spreads from 0.0 | $3 per $100,000 per side | Great for fast manual trading and depth-of-market style execution |
| Raw Pro | MetaTrader (MT4/MT5) | Raw spreads from 0.0 | $3.0 per lot per side | Lower commission than classic Raw Spread; strong option for frequent scalpers (early access) |
| Raw Pro+ | MetaTrader (MT4/MT5) | Raw spreads from 0.0 | $2.0 per lot per side | Lowest MetaTrader commission; best for high-volume intraday traders if available (early access) |
Account options may vary based on your region.
Should I Use An IC Markets ECN Account?
If you’re a day trader, an ECN account is the one you’ll probably be looking for because it’s designed around tight spreads with transparent commissions and fast execution – all of which can impact the profitability of short-term trading strategies.
You’ll probably want to avoid the IC Markets’ ‘Starter’ or ‘Standard’ accounts, as these opt for an all-inclusive spread with no commission. This is effectively a markup-on-spread model rather than raw/ECN pricing.
Execution and latency are key parts of the appeal with IC Markets’ ECN trading solutions: MetaTrader infrastructure is tied to Equinix NY4, while cTrader is hosted in Equinix LD5 (London). Both are aimed at low-latency strategies like scalping and automation.
However, ECN accounts can still be risky. This is because raw pricing and fast execution don’t reduce the dangers of trading leveraged CFDs and forex, while tight spreads can encourage overtrading and come with higher commissions.