IC Markets Forex Broker Review
FXMARE editorial rating, not user reviews.
Reviewed by the FXMARE Research Desk under our review methodology · licences last verified 2026-06-25
IC Markets is a Sydney-founded ECN/STP broker renowned for ultra-tight raw spreads and deep liquidity across MT4, MT5, and cTrader.
Spread from: 0.01 pips (raw/ECN) · Min deposit: $0 (global/Seychelles entity); $200 suggested for institutional-grade pricing · Max leverage: 1:30 (ASIC AU / CySEC EU, major FX); up to 1:500 (FSA Seychelles); up to 1:500 (SCB Bahamas) · Instruments: 61 forex pairs, 25 indices, 2,100+ stocks, 21 crypto, 20+ commodities, 9+ bonds, 5 futures
Spreads, minimum deposit and leverage are indicative and vary by account type and jurisdiction — confirm current terms on the broker’s site.
Between 74% and 89% of retail investor accounts lose money when trading CFDs.
You should consider whether you understand how CFDs and leveraged products work and whether you can afford to take the high risk of losing your money. FXMARE is not a broker and does not offer these products; figures are indicative of those disclosed by regulated providers. This page is information, not financial advice. See our full risk disclosure.
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IC Markets Overview
IC Markets is a Sydney-founded ECN/STP broker renowned for ultra-tight raw spreads and deep liquidity across MT4, MT5, and cTrader.
IC Markets is regulated by ASIC (Australia), CySEC (Cyprus / EU), FSA (Seychelles), SCB (Bahamas). Independently verifiable licences include ASIC AFSL 335692 — International Capital Markets Pty Ltd; CySEC 362/18 — IC Markets (EU) Ltd. It ranks among the most trusted, tier-1-regulated brokers in this comparison.
EUR/USD spreads start around 0.01 pips on the raw/ECN account (about 0.1 pips on the standard, commission-free account), with $7 (Raw MT4/MT5); ~$6 (cTrader Raw) commission. The minimum deposit is $0 (global/Seychelles entity); $200 suggested for institutional-grade pricing and maximum retail leverage is 1:30 (ASIC AU / CySEC EU, major FX); up to 1:500 (FSA Seychelles); up to 1:500 (SCB Bahamas). Swap-free (Islamic) trading is offered conditionally — Available on request for clients who demonstrate religious beliefs preventing interest. Holding fees replace swaps and are charged every calendar day including weekends. Most instruments have a 5-day grace period (no fee if position closed before Day 5). Exceptions: energy CFDs (XTIUSD, XBRUSD, XNGUSD) have no grace period — fees apply from Day 1. JPY pairs (USDJPY, GBPJPY) have a 2-day grace period. Rates vary by instrument (e.g. EURUSD ~$9/lot/day, USDTRY ~$101/lot/day) and are subject to change. Covers 90+ instruments including forex, indices, metals, energy, and crypto..
Platforms include MT4, MT5, cTrader, TradingView. IC Markets provides ~2,250+ (61 forex pairs, 25 indices, 2,100+ stocks, 21 crypto, 20+ commodities, 9+ bonds, 5 futures) across Forex, Indices, Stocks, Commodities, Crypto, Bonds, funded via Credit/Debit Card, PayPal, Neteller, Skrill, Wire Transfer, UnionPay.
IC Markets is one of the most credible raw-spread brokers globally, with ASIC and CySEC regulation providing solid tier-1 oversight for Australian and EU clients respectively. Its raw spread accounts consistently rank among the tightest in the industry, making it a top choice for active scalpers and algo traders. The offshore Seychelles and Bahamas entities extend access to higher leverage but at the cost of weaker investor protections, and a pending Australian class action warrants monitoring.
Headquarters: Sydney, Australia · Funding: Credit/Debit Card, PayPal, Neteller, Skrill, Wire Transfer, UnionPay, BPAY (AU), POLi (AU)
Pros
- Institutional-grade ECN/STP execution with some of the lowest raw spreads in the industry (avg EUR/USD 0.01 pips on raw)
- Four strong regulated entities including ASIC (Tier-1) and CySEC (Tier-1 EU)
- Broad platform choice: MT4, MT5, cTrader, and TradingView all offered
- Very wide instrument range — 2,250+ assets covering stocks, forex, crypto, and more
- No deposit fee, 14 funding methods, fast processing on most methods
Cons
- ASIC and CySEC retail leverage capped at 1:30 (major FX) — offshore entities required for high leverage, reducing protections
- Swap-free holding fees can be expensive on exotic or energy pairs (no grace on energy from Day 1)
- Ongoing Australian class action (filed 2024) alleging misleading conduct in CFD supply to retail clients — reputational risk
- Proprietary research tools limited — relies on third-party platforms; no in-house social/copy trading network
IC Markets Ratings Breakdown
IC Markets Fees, Spreads & Leverage
IC Markets Regulation & Entities
Licence numbers link to each regulator’s public register so you can verify them yourself. Last checked 2026-06-25.
IC Markets is authorised by ASIC (Australia), CySEC (Cyprus / EU), FSA (Seychelles), SCB (Bahamas). Brokers regulated in tier-1 jurisdictions are generally required to hold client money separately from company funds and may offer protections such as negative-balance protection or an investor-compensation scheme — the exact safeguards depend on the entity you sign up with. As with all trading, your capital is at risk. Confirm which entity, licence and protections apply to your country on the regulator’s register before funding an account.
Want a deeper, sourced safety check? See our broker safety checks — regulator registers, review-platform sentiment and unresolved questions, in one place.
IC Markets Platforms & Execution
Available on desktop, web and mobile. Tradable across Forex, Indices, Stocks, Commodities, Crypto, Bonds. Track every position you take with IC Markets in the FXMARE trading journal.
IC Markets Verdict — Is It Safe & Legitimate?
IC Markets is one of the most credible raw-spread brokers globally, with ASIC and CySEC regulation providing solid tier-1 oversight for Australian and EU clients respectively. Its raw spread accounts consistently rank among the tightest in the industry, making it a top choice for active scalpers and algo traders. The offshore Seychelles and Bahamas entities extend access to higher leverage but at the cost of weaker investor protections, and a pending Australian class action warrants monitoring.
Affiliate link · $0 (global/Seychelles entity); $200 suggested for institutional-grade pricing min deposit · Trading CFDs is high-risk
IC Markets — frequently asked questions
Is IC Markets regulated?
IC Markets states it is authorised by ASIC (Australia), CySEC (Cyprus / EU), FSA (Seychelles), SCB (Bahamas). We last checked those licence details against the regulators' own public registers on 2026-06-25. Licences are entity-specific: the group company that onboards you depends on your country, so confirm which entity your client agreement names before depositing.
What is the minimum deposit at IC Markets?
IC Markets lists $0 (global/Seychelles entity); $200 suggested for institutional-grade pricing min deposit. Minimums vary by account type, funding method and regional entity, so treat this as indicative and confirm the figure on the broker's own site for the account you intend to open.
What spreads does IC Markets offer on EUR/USD?
IC Markets advertises spreads from 0.01 pips (raw/ECN), with EUR/USD quoted around 0.1 pips (standard) · 0.01 pips + commission (raw). Commission: $7 (Raw MT4/MT5); ~$6 (cTrader Raw). Advertised "from" figures are floors seen in ideal conditions rather than averages — compare total cost per round turn (spread plus commission) at the volume you actually trade.
What is the maximum leverage at IC Markets?
IC Markets advertises up to 1:30 (ASIC AU / CySEC EU, major FX); up to 1:500 (FSA Seychelles); up to 1:500 (SCB Bahamas). Leverage caps are set by the regulator of the entity you trade with, so retail clients in the UK, EU and Australia receive materially lower caps than the headline figure. Higher leverage magnifies losses as much as gains.
Does IC Markets offer swap-free (Islamic) accounts?
Partly. IC Markets offers swap-free trading with conditions. Available on request for clients who demonstrate religious beliefs preventing interest. Holding fees replace swaps and are charged every calendar day including weekends. Most instruments have a 5-day grace period (no fee if position closed before Day 5). Exceptions: energy CFDs (XTIUSD, XBRUSD, XNGUSD) have no grace period — fees apply from Day 1. JPY pairs (USDJPY, GBPJPY) have a 2-day grace period. Rates vary by instrument (e.g. EURUSD ~$9/lot/day, USDTRY ~$101/lot/day) and are subject to change. Covers 90+ instruments including forex, indices, metals, energy, and crypto.
Which platforms does IC Markets support?
IC Markets supports MT4, MT5, cTrader, TradingView. Platform availability can differ by entity and account type — a platform offered in one region is not guaranteed in another, so verify it is available on the specific account you plan to open.
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FXMARE may earn a commission if you open an account through links on this page, including any placement marked Sponsored. This does not affect our independent rating of IC Markets. Trading forex and CFDs carries a high level of risk and most retail accounts lose money. This review is information, not financial advice — verify all terms with the broker directly.
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