IC Markets Review 2025

Trust

IC Markets Regulations

When we review brokers, we look at the licenses held by each of their entities to understand how well they protect clients. We use a simple three-tier system to rank regulatory bodies, with Tier 1 being the most trusted and offering the highest level of protection.

This is what I discovered about the five entities operating under the IC Markets trade name:

• IC Markets (EU) Ltd is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 362/18. We rate CySEC as a Tier-1 regulator.
• International Capital Markets Pty Ltd is licensed and regulated by the Australian Securities and Investments Commission (ASIC) under license number 335692. We rate ASIC as a Tier-1 regulator.
• Raw Trading Ltd is licensed and regulated by the Financial Services Authority (FSA) of the Seychelles under license number SD018. We rate the FSA as a Tier-3 regulator.
• IC Markets (KE) Limited is licensed and regulated by the Capital Markets Authority (CMA) of Kenya under license number 199. We rate CMA as a Tier-3 regulator.
• IC Markets Ltd is licensed and regulated by the Securities Commission of the Bahamas (SCB) under license number SIA-F214. We rate the SCB as a Tier-3 regulator.

How IC Markets Protects You

Brokers operate multiple entities globally, but regulatory protections vary. Some regulators enforce stricter financial standards than others, so traders should understand the safety measures of the entity with which they choose to open an account.

Here is how IC Markets protects you:

• Segregated client accounts.
• Insurance coverage up to $1,000,000.
• Guarantees negative balance protection across all entities, except for Raw Trading Ltd.

To learn more about the most important safety mechanisms and how they apply to you, click here.

Stability and Transparency

In our Trust category, we assess how stable and transparent a broker is. This includes how long they’ve been in business, the size of the company, and how openly they share important information.

IC Markets has been in business for 18 years and has built a strong reputation as a reliable broker. The company appears stable and well-established, employing over 930 professionals globally.

Its legal documents, including the Client Agreement, are easy to access and clearly written—I reviewed them and found everything in order.

My only minor complaint is that IC Markets doesn’t publish live spread data on its website.

Is IC Markets Safe?

I concluded that IC Markets is very safe due to the following factors:

• Regulated by several authorities
• Keeps client funds segregated
• Has transparent legal docs
• Has issued an indemnity insurance

Fees

IC Markets Trading Fees

IC Markets Spreads

I tested IC Markets’ spreads on 2 July 2025 during the London and New York opens. The results are shown in the table below:

Broken down by asset class and compared to the industry average, IC Markets offers low spreads on currency pairs, commodities, share CFDs, indices, and cryptocurrencies. Its crude oil and BTCUSD spreads are especially competitive.

IC Markets Swaps

A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

The values listed below are for one full base currency contract (100,000 units).

Live testing revealed that IC Markets’ swaps exceed the industry benchmark. This is not particularly suited for overnight trading. However, swaps change over time.

IC Markets Non-Trading Fees

IC Markets does not impose a handling fee for deposits or withdrawals, though third-party processing fees may apply. The broker also does not charge an inactivity fee.

Are IC Markets’ Fees Competitive?

I found IC Markets’ fees to be highly competitive. While swap rates were on the higher side during my test, the broker offers some of the lowest spreads in the industry. The absence of non-trading fees is another big plus, making its overall pricing model even more attractive.

Platforms and Tools

MetaTrader 5 Desktop

I tested the desktop version of MetaTrader 5. The charts, orders, and various instruments are located in easy-to-find places, and even first-time traders can quickly learn their way around. My only gripe with the platform is that its charts feel rugged and outdated compared to newer and sleeker trading stations.

IC Markets’ MT5 platform is available on Windows and Mac and supports 52 languages, including English, French, Spanish, German, Arabic, Chinese, and more.

MT5 features include:

• Alerts-Setting Option: Traders can set alerts for when the price of a given instrument falls/rises to a predetermined level, which could potentially signal a viable entry opportunity.
• Watchlist Customization: Traders can populate watchlists with their favorite instruments and track market changes more easily.
• One-click Trading: This feature enables instant market entries at the spot price and is invaluable for high-precision traders, such as scalpers.
• Trading from the Chart: Traders can place conventional trading orders directly from the chart, specifying the entry price, volume level, stop and take-profit levels, and more.

In my opinion, MT5 is best suited for automated trading via Expert Advisors (EAs). The platform also has an intuitive strategy tester, allowing experienced algo traders to tweak the parameters of their strategies so that they can be used under different market conditions.

Charts

I have broken down the available analytical tools and chart configurations below:

• 38 technical indicators: Including trend-based and volume-based indicators, and oscillators to analyze price action and assess market sentiment, helping predict market movements.
• 24 drawing tools: Tools like Fibonacci retracement levels and Elliott waves help identify price patterns, support/resistance levels, and breakout points. However, MT5’s design can make price action harder to interpret.
• 21 timeframes: For multi-timeframe analysis, enabling detailed price action analysis. MetaTrader 5 has one of the largest such offerings in the industry.
• 3 chart types: Price action can be displayed as line, bars, or candlesticks, offering diverse perspectives on trading opportunities.

As shown above, MetaTrader’s charts can quickly become cluttered, even with just two indicators. This can obscure price action examination and make it harder to perform detailed technical analysis.

Orders

MetaTrader 5 features three types of order execution: market, pending, and one-click trading, which supports immediate entries at the spot price.

I have broken down the available order types on the MetaTrader 5 platform below:

• Market Orders: Used for immediate entry at the best available price. They guarantee volume filling, though the entry price may differ from the requested price.
• Limit Orders: Guarantee exact price entries, but won’t be filled if the price doesn’t reach the trigger level.
• Stop Orders: They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

MT5 Desktop: My Key Takeaways

MetaTrader 5 is a decent option for fast and simple order execution. However, its dated and rugged design is inferior to newer and sleeker platforms. As a trader who prioritizes flexible charts that are easily scalable, I find MT5’s charting capabilities too rigid and less effective.

MT5 App

I tested the MT5 mobile app, which is available on iOS and Android and enables quick and easy access to the market on the go. It is very useful for opening, terminating, and adjusting open positions.

You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades.

MT5 App: My Key Takeaways

The MetaTrader app stands out for its convenience, making it an essential tool for adjusting trades, especially during periods of heightened volatility. However, I consider it cumbersome and not the best choice for analyzing price action.

IC Markets Execution Model

IC Markets operates as an Electronic-Communication-Networks (ECN) broker. This allows it to facilitate fast order execution speeds and competitive spreads.

TradingView Desktop

IC Markets supports the seamless TradingView platform for those interested in high-definition charting and streamlined trading signals. I consider its charting capabilities the best in the industry.

Price action is represented clearly and can be easily scaled up and down. TradingView features a massive assortment of more than 150 analytical tools and chart configurations, as well as simplified order execution.

The TradingView hub also hosts one of the biggest social trading communities, where traders from different backgrounds meet and exchange trading knowledge and ideas.

VPS Hosting

IC Markets provides Virtual Private Server (VPS) hosting for low-latency trading and order execution speeds of around 1 millisecond. The service is free to accounts with a monthly traded volume of at least 15 lots.

Tradable Instruments

Compared to the industry average, IC Markets offers a high number of commodities, share CFDs, indices, and cryptocurrencies and an average number of currency pairs.

What Are CFDs?

CFDs (Contracts for Difference) let you trade on the price movements of assets—like gold—without actually owning them.

For example, if you go long on gold and the price rises, you profit; if it falls, you lose—without ever buying real gold.

The biggest perk? You can jump in or out of the market quickly to take advantage of even the smallest price changes.

What CFDs Can You Trade With IC Markets?

IC Markets Instruments: My Key Takeaways

IC Markets’ range of instruments is impressive, offering broad market access and plenty of room to apply different strategies. I particularly liked the wide selection of high-risk/high-reward assets like share CFDs and cryptocurrencies. Still, adding some low-risk options like ETFs would make the lineup even stronger.

Customer Support

Customer Support Channels

Customer Support Test

When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

I performed my test on 3 July at around 09.45 CET via live chat. Initially, I had to provide my name and email address before being connected to an agent.

IC Markets’ agents had a broad understanding of the broker’s services and provided me with comprehensive answers to the series of questions I asked. Although it took some time to answer my question regarding IC Markets’ share CFDs leverage, I appreciated the agent’s commitment to finding the correct answer.

Deposit and Withdrawal

IC Markets Deposits

IC Markets Withdrawals

Account Types and Terms

How to Open an Account with IC Markets

To create an account with IC Markets, follow these simple steps:

1. Click ‘Start Trading’ from the menu.
2. State your name and country of residence.
3. Fill in your email and phone number.
4. Fill in your DOB and address.
5. Choose a trading platform, account type, and base currency.
6. Review your personal details.
7. Select a security question and an answer.
8. Agree to IC Markets’ T&Cs.
9. Click the link sent to your email address.
10. Choose a new password.
11. Provide the rest of your personal details.
12. Upload proof of ID and proof of address.

IC Markets Account Types

*Round-turn per one full contract

The Standard IC Markets account type features competitive spreads, zero commissions, and a low deposit requirement. A 100% margin call and 50% stop-out are also implemented to reduce the risk of complete account wipeouts. My only gripe with the Standard account is that it doesn’t support TradingView or cTrader—two of IC Markets’ most powerful platforms.

In contrast, the Raw and cTrader Raw accounts feature spreads from 0.0 pips and volume-based commissions. I deem the Raw cTrader the better option because of the lower round-turn commission of $6 per traded lot, which is aligned with the industry average.

Demo Accounts

IC Markets offers a demo account that lets traders explore the broker’s available platforms and test their strategies in a risk-free environment. Since markets are always changing, it’s important to keep your skills sharp without risking real money. You can open a demo account before or alongside your live CFD account.

Swap-Free (Islamic) Accounts

IC Markets provides Islamic accounts for swap-free trading under Shariah Law. Please contact the broker for additional information.

What is CFD Leverage?

Leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of leverage. Essentially, the broker lends the trader money so that they can open bigger positions. Leverage multiplies the profits a trader generates from winning positions, but also the losses incurred from failed trades.

What Leverage Does IC Markets Offer?

In the table below, I have listed the maximum retail leverage available with IC Markets for instruments from different asset classes:

IC Markets Restricted Countries

IC Markets does not accept as clients residents of the United States of America, Canada, Brazil, Israel, New Zealand, Iran, North Korea, or any other jurisdiction where trading with leveraged products is prohibited by law.

Research

Research Tools

The Trading Central and Autochartist packages include featured trading ideas, comprehensive technical analyses comprising elements of fundamental analysis, and an advanced market sentiment gauge. This content provides a 360-degree coverage of current market developments and emerging trading setups, catering to the needs of day traders and swing traders.

IC Markets also tracks the same developments via its in-house market reviews. The analyses are well-researched and a nice complement to the third-party materials.

IC Markets Research: My Key Takeaways

I appreciated the IC Markets research content for its scope and diversity. The broker provides truly comprehensive and nuanced research that delves deep into the latest market developments. The real-time data helps traders stay on top of the news and make informed trading decisions. The content is written in an easy-to-grasp way and is equally suited for the inexperienced newbie and the seasoned vet.

Education

IC Markets offers an impressive library of over 600 educational webinars on its YouTube channel, available in English, Arabic, Thai, and Chinese. The content is concise yet insightful, covering key areas like technical and fundamental analysis, trading psychology, and risk management.

Traders can also access dozens of written articles and videos that reinforce these topics. For those who want to dive deeper, IC Markets provides a comprehensive ebook titled “The Modern Guide to Trading.”

The Bottom Line

IC Markets is an Australian broker that has been operating globally since 2007. With over 2,200 CFD instruments and some of the lowest fees in the industry, it is one of the most well-rounded brokers I’ve tested.

You’ll find a strong lineup of platforms here—MT4, MT5, cTrader, and TradingView—each tailored for different trading styles. The broker also offers free VPS hosting for low-latency trades and supports both social and copy trading via ZuluTrade and its own app – IC Social.

For traders who value insights, IC Markets delivers rich educational and research content, including tools from Autochartist and Trading Central.

That said, swaps can be on the high side, and the Standard account is limited to MetaTrader 4 and 5.

Overall, IC Markets is a powerful, low-cost broker that caters to traders of all levels and preferences.

FAQ