IC Markets Review

This IC Markets review covers one of the best-known raw-spread brokers in retail forex, which in 2026 shortened its name to simply “IC” and moved its websites to the ic.com domain. Founded in Sydney in 2007, IC Markets built its reputation on tight interbank-style pricing, low commissions and a platform menu that suits algorithmic traders. Its main weakness is that clients outside Australia and the EU are usually served by offshore companies with lighter oversight.

At a glance, as of November 2026: Raw accounts cost about 0.7 pips all-in on EUR/USD, there is a choice of MT4, MT5, cTrader and TradingView, ten base currencies are available, and support runs 24/7.

Company background and the switch to “IC”

IC Markets was set up in Sydney in 2007 and grew into one of the largest retail FX brokers by volume, largely by courting scalpers, expert-advisor users and high-frequency traders. The company is privately owned and is not listed.

In 2026 the group adopted IC as a single masterbrand. The new identity was tested through its Haas Formula 1 sponsorship and then rolled out across entities, with regional websites consolidated onto ic.com. The legal companies behind the brand have not changed, so existing licences and client agreements carry over.

Is IC Markets safe? Regulation by entity

IC Markets operates through five main companies. Which one holds your account depends on where you live, and the differences in protection are real:

• International Capital Markets Pty Ltd – Australian Financial Services Licence 335692 from ASIC. Retail leverage is capped at 1:30, with negative balance protection and access to Australia’s Compensation Scheme of Last Resort.
• IC Markets (EU) Ltd – CySEC licence 362/18. EU retail clients get 1:30 leverage, negative balance protection and Investor Compensation Fund cover of up to €20,000.
• IC Markets (KE) Limited – licensed by Kenya’s Capital Markets Authority (licence 199), with leverage up to 1:400.
• IC Markets Ltd – Securities Commission of the Bahamas, licence SIA-F214, leverage up to 1:200.
• Raw Trading Ltd – Seychelles FSA securities dealer licence SD018, the company that serves most of the rest of the world, with leverage up to 1:1000 and in some cases higher.

You can confirm the Australian licence on ASIC’s professional register search. The Seychelles company says it carries an excess-of-loss insurance policy of up to $1 million per client, which is helpful but not a statutory compensation scheme.

In practice, IC Markets has a long, clean record with no major enforcement actions against its main entities. Still, a client of Raw Trading Ltd relies on a Tier-3 regulator, which is a meaningful step down from ASIC or CySEC.

IC Markets account types

The account structure is simple and built around one choice: commission or no commission. Higher-volume tiers were added for professional-sized traders.

Swap-free Islamic versions exist for Standard and Raw, but not for Raw Pro or Raw Pro+. Every account trades from 0.01 lot, and free demo accounts are available on all platforms. Raw Pro tiers are offered under the international IC brand, so EU and Australian clients should check availability.

Trading costs in practice

Pricing is where IC Markets genuinely leads the market. In tests carried out in mid-2026, the Raw account’s EUR/USD spread averaged about 0.1 pips and the Standard account about 0.8 pips, in both the London and New York sessions.

Worked example (one standard lot of EUR/USD, open and close):

• Raw Spread on MT5: roughly 0.1 pips ($1) plus $7 commission = about $8, or 0.8 pips all-in. At very tight moments it falls to around $7.20.
• Raw Spread on cTrader: about $1 plus $6 = about $7.
• Standard: 0.8 pips with no commission = about $8.
• Raw Pro+: about $1 plus $2 = about $3, which is institutional-level pricing.

Overnight swaps apply unless you use an Islamic account. IC Markets charges no deposit or withdrawal fees of its own, though international wires can attract bank charges and currency conversion applies if you fund in a different currency. Sources disagree on inactivity charges: some 2026 reviews report none, while others mention a small monthly fee after six months without trading, so check your client agreement. Active traders can also apply for a volume rebate programme.

Platforms, copy trading and tools

The platform choice is excellent for a broker without its own software:

• MetaTrader 4 and MetaTrader 5, with an advanced trading tools pack and no restrictions on expert advisors.
• cTrader, with Level II depth, cTrader Copy and cTrader Automate for C# algorithms.
• TradingView, which lets you trade straight from TradingView charts on a Raw account.

For copy trading, IC Markets connects to ZuluTrade, Signal Start, cTrader Copy and its own IC Social app. Free VPS hosting in Equinix data centres is available for clients trading about 15 lots per month, and research comes from Trading Central and Autochartist.

What is missing is a home-grown platform and a native Mac desktop application, and the research and education offer is plainer than at the big multi-asset brokers.

Which IC Markets platform should you pick?

If you already run expert advisors or use custom MetaTrader indicators, stay with MT4 or MT5; MT5 has more timeframes, a built-in economic calendar and access to more symbols. Traders who want cleaner charts, transparent depth of market and copy trading without third-party plug-ins usually prefer cTrader, which also carries a slightly lower commission. TradingView suits chart-first traders who already pay for a TradingView plan and want to place orders without switching windows.

Whichever you choose, execution goes through the same IC Markets liquidity pool, with servers in Equinix NY4 and LD5. The broker reports average execution speeds measured in milliseconds, which matters mainly for scalpers and news traders.

Markets available

IC Markets lists more than 2,800 CFDs under the global brand and over 7,000 on the EU entity, mostly because of a much larger share CFD list in Europe. The core categories are:

• About 60 forex pairs, including exotics
• Around 26 indices and about 30 commodities, including metals, energies and softs
• Thousands of share CFDs from US, European and Australian exchanges
• Crypto CFDs (around 20) and a small set of bond CFDs

Everything is traded as a CFD: there are no real shares, options or exchange-traded futures. Leverage is lower on non-FX assets, for example about 1:20 on stocks at the offshore entity.

Funding and withdrawals

IC Markets offers one of the widest payment menus among raw-spread brokers. Depending on your entity, you can use bank wire, Visa and Mastercard, PayPal, Skrill, Neteller, Apple Pay, Google Pay, UnionPay, BPAY, POLi, Klarna, Rapid Transfer, Thai and Vietnamese internet banking, broker-to-broker transfers and crypto (BTC, ETH, USDT and USDC).

Withdrawals are processed back to the original funding source where possible, and requests submitted before the daily cut-off are normally handled the same business day. Card refunds can take a few days to appear on your statement because of bank processing, not broker delays.

Cards and e-wallets are usually instant, while wires take two to five business days to arrive and up to a week to withdraw. There are ten base currencies: AUD, USD, EUR, GBP, SGD, NZD, JPY, CHF, HKD and CAD, which helps many traders avoid conversion costs.

Promotions

IC Markets does not offer deposit bonuses, no-deposit bonuses or trading contests. The only incentive is a volume-based rebate for active traders. That is typical for a broker whose pitch is low pricing, and EU and Australian rules would not allow retail bonuses anyway.

Education, research and support

Education consists of articles, webinars and video tutorials, with no structured course path or quizzes. Research is spread across several sources, including Trading Central and blog analysis, which works but feels scattered.

Customer service is a clear strength: live chat, email and phone are open 24/7, and the website and support cover many languages, including English, Chinese, Spanish, Portuguese, Thai, Arabic and Vietnamese.

Is IC Markets right for you?

A good match for: scalpers, day traders and algorithmic traders who want very low costs, deep liquidity and a choice between MetaTrader, cTrader and TradingView; and anyone who values 24/7 support.

Less suitable for: beginners who want a guided learning path, investors who want real shares, and anyone outside Australia and the EU who wants a Tier-1 regulator holding their account. US, Canadian and New Zealand residents cannot open an account.

IC Markets review scores explained

IC Markets FAQ

Has IC Markets changed its name?

Yes. In 2026 the group rebranded to IC and moved to the ic.com domain. The regulated entities and licences stayed the same.

What is the minimum deposit at IC Markets?

Recent reviews list no fixed minimum for Standard and Raw accounts, though IC has long recommended starting with about $200. Raw Pro needs $5,000 and Raw Pro+ $100,000.

How much commission does IC Markets charge?

$3.50 per side per lot on MetaTrader Raw accounts, about $3 on cTrader and TradingView, $1.50 on Raw Pro and $1 on Raw Pro+. The Standard account has no commission.

Which IC Markets entity will I join?

Australians join the ASIC entity and EU residents the CySEC entity. Most other countries are served by Raw Trading Ltd in the Seychelles, with Kenya and the Bahamas covered by local companies.

Does IC Markets allow scalping and expert advisors?

Yes, scalping, hedging, news trading and automated trading are all permitted, and free VPS hosting is available to active traders.

Final verdict

IC Markets remains one of the cheapest and most technically capable brokers for active forex traders, with genuine raw pricing, three major platform families plus TradingView, and round-the-clock support. The rebrand to IC changes the logo, not the offer. The main thing to weigh is which entity you will join: under ASIC or CySEC the package is hard to beat, while under the Seychelles company you trade off regulatory protection for higher leverage.

Risk warning: CFDs are complex leveraged products, and most retail investor accounts lose money when trading them.

See how IC Markets compares in our top 50 forex brokers ranking, forex brokers by country, regulator and platform and all broker reviews.

Risk warning: Trading forex and CFDs on margin carries a high level of risk. Bonus terms are set by each broker and may change; always check the broker's official terms before claiming.