Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

IC Markets Review

25 reviews

IC Markets general information

Founded in: 2007 year
Website: www.icmarkets.com
Regulated by: ASIC
Affiliate program: 1

IC Markets Forex broker description

IC Markets was established in 2007 in Sydney, Australia, as an International Capital Markets PTY. Its current headquarters are in Australia and Seychelles. 

The broker was founded to close the gap between institutional and retail trading, hence its popularity as IC Market Forex. The broker also offers unique trading service catering to the needs of retail and low-profile investors.

Supported Countries

Except for countries where forex and CFDs trading activities are illegal, the broker offers its services worldwide. This explains why IC Markets platforms are available in 18 languages. 

However, a few countries are excluded from the list of countries supporting IC Markets trading activities. These countries are Belgium, Canada, Côte D'Ivoire, Cuba, Ghana, Iran, Iraq, Israel, Latvia, Liberia, Niger, Togo, the United States, and Zimbabwe.

Customer Service Rating

IC Markets has an excellent 4.8 rating on Trustpilot. This rating is based on 27,380 reviews. This suggests that the majority of its clientele is impressed by the quality of IC broker service. 

Many IC Market reviews praised the broker for its swift customer service response and commissions-free policy on deposits and withdrawals. The negative reviews are based mostly on withdrawal difficulties. However, this can be resolved by consulting the specific customer care email for inquiries and complaints.

IC Markets Trading Platforms

IC Markets offers its clientele the desktop and mobile versions of its MetaTrader 4, MetaTrader 5, and cTrader platforms. These platforms are available on Android and iOs (iPhone and iPad) for demo and live trading options. The details of each platform are described below:

  • MetaTrader 4: This platform is ideal for scalping trading tactics for new and experienced traders. This interface is simple to use, with rapid order management functionality and risk management tools. Traders can also use Expert Advisors (EAs) on this algorithmic trading platform.

  • MetaTrader 5: Trading CFDs on shares is allowed via this multi-asset trading platform. Its built-in market trading robots allow for simple algorithmic trading and automation. On this platform, CFDs and forex trading may be automated utilizing EAs and the MQL5 programming language. 

  • cTrader Platform: This platform affords traders detachable charting options, an individualized user interface, and iOS and Android apps. This institutional-style trading platform allows traders direct setup access to liquidity pools made for cBot-based algorithmic FX trading.

Type of Trading Accounts

From our ICMarket review, the broker has four trading accounts. They are:

  • Standard Account: It is accessible on the MetaTrader 4 forex trading platform and was designed for inexperienced forex traders. Trading on this platform is commission free but with greater spreads.

  • Raw Spread Account: Via this account, traders can trade at ECN brokers' low spreads, which start at 0 pip for EUR/USD and $3.50 per lot. This account is available on the MetaTrader 4 with the MLQ4 programming language. This account is ideal for traders who need daily trading strategies and Expert Advisors.

  • cTrader Raw Account: This account is built on C# programming language to provide an institutionally suitable trading condition. The account is available on the cTrader trading platform. The commission for each lot on this platform is $3.00.

  • Islamic Account Option: This is a Sharia-compliant account where Raw or Standard pricing does not subject traders to interest-based swap rates. With this account, traders are subject to the Islamic financial principles of paying flat-rate admin fees rather than swap rates when necessary.

Trading Denominations

Despite the IC Market minimum deposit of $200, the broker has only ten base currencies. They include AUD, CAD, CHF, EUR, GBP, HKD, NZD, SDG, USD, and JPY.

Company Structure

IC Markets is a leading Forex and CFD broker based in Sydney, Australia. The company is the first in Australia to provide forex ECN on the MetaTrader 4 platform. 

Aside from its headquarters in Sydney, the broker also has offices in the Bahamas, Cyprus, and Seychelles. IC brokers take pride in their advanced technology, open pricing system, and minimal trading expenses.

IC Markets Licenses and Regulatory Compliance

Four primary regulators license IC Markets. They include:

  • The Australian Securities and Investments Commission (ASIC): Under the business name International Capital Markets Pty., IC Markets is supervised in Australia by the ASIC with the Australian Financial Services License (AFSL) no. 335692. ASIC protects forex traders by several measures, which include the demand that brokers retain client funds in segregated bank accounts, negative balance protection, and closeout margins. The watchdog also applies leverage limits to every asset class and CFD category. 

  • Cyprus Securities and Exchange Commission (CySEC): The Cyprus watchdog regulates IC Markets' European division. Brokers in this region abide by the European Securities and Markets Authority's (ESMA) standards for forex trading. Some rules brokers must abide by include reduced leverage, bonuses, promotion restrictions, and negative balance protection.

  • Financial Services Authority (FSC): IC Markets has a subsidiary named Raw Trading Ltd, registered in Seychelles. This watchdog oversees the activities of traders outside of Australia and the European Union. Under the FSC, IC Markets has the license number SD018 and company number 8419879-2. Unlike the ASIC and CySEC, brokers licensed by the FSC are not under strict trading rules and restrictions.

  • Securities Commission of The Bahamas (SCB): To maintain its capital requirements, ICMarket broker complies with SCB's regulations and has internal risk management measures. Per the dictates of the watchdog, IC Markets conducts external audits of its operational and financial procedures.

IC Markets Customer Support

IC Markets' customer service is available around-the-clock. From its Sydney head office located at Level 6 309 Kent Street Sydney, NSW 2000, local customers can get assistance from the broker's technicians and experts. 

Clients can also contact the broker via its customer care lines, social media pages and handles, and website. ICMarket reviews reveal that the broker is one of the popular brokers to have adopted the chatbot response across its trading platforms.

IC Markets Customer Protection

IC Markets regulations offer up to US$1,000,000 in insurance coverage for each client to secure their investments. The insurance plan also covers the client's open CFD positions and available balance. All clients of IC Markets subsidiary, Raw Trading Ltd, are covered by the insurance plan, which will only kick in if Raw Trading Ltd files for bankruptcy.

Trading Information

IC Markets regulated trading solutions meet the experience levels and expectations of both new and active day traders. Customers can also access enhanced liquidity and low latency through any IC Markets platform.

Tradable Instruments

At the time of writing, there are only seven categories of tradable instruments on IC Markets' trading platforms. They are:

  • Forex CFD: Traders can transfer IC Market Forex CFDs five days a week, as trading forex is closed on weekends across IC Markets' platforms. Across 61 currency pairings, traders can access some of the narrowest spreads, excellent execution, and substantial liquidity on the IC Markets platform.

  • Indices CFD: For all 25 Indices available across its platforms, IC Markets offers spreads starting at 0.4 points. Traders can enjoy commission-free, round-the-clock trading services on all major markets while gaining a broader perspective on the equity markets.

  • CFDs on Commodities CFD: IC Markets allows traders to trade commodities like food, energy, and metals as easily as a currency pair against the USD or as a futures CFD. The broker offers viable commodities by fusing tight pricing with versatile lot sizes starting at $0.10 per point.

  • Stocks CFD: On the NASDAQ, NYSE, and ASX stock exchanges, traders on IC Markets platforms have access to more than 2100 large-cap stocks CFDs. To offer its clientele the best trading opportunities, the broker chose a variety of popular businesses to trade its stock.

  • Bonds CFD: IC Markets provide bonds that allow traders to diversify their strategies, hedge their exposure to stocks, and speculate on interest rates. Various Bonds issued by governments worldwide are available to traders on all IC Markets platforms.

  • Crypto CFD: The broker offers a variety of well-known cryptocurrencies that may be exchanged every day of the week across its platforms. Trading on the IC Markets platform allows traders to minimize cryptocurrency exchange risk with a leverage of up to 1:200.

  • Futures CFD: Futures from many countries are available via IC Markets, including the ICE Dollar Index and CBOE VIX Index. These products are, however, only available on the MetaTrader 4 platform.

Leverage on IC Markets

With its offshore FSA regulatory branch in Seychelles, IC Markets provides a high leverage level of up to 500:1. The broker's 65 currency pairs and other CFDs have different leverage levels. The broker's offshore branch offers the following leverage:

  • Forex, gold, and commodities - 500:1

  • Indices, futures, and bonds -  200:1

  • Shares - 20:1

  • Cryptocurrency - 5:1

Please note that the maximum leverage is considerably lower with the Australian branch of IC Markets, regulated by ASIC and the CySEC. The leverage here is:

  • Major forex pairs - 30:1

  • Minor forex pairs - 20:1

  • Gold and major indices - 20:1

  • Futures, and minor indices - 10:1

  • Shares and bonds - 5:1

  • Cryptocurrencies - 2:1

Deposits and Withdrawals

The IC Markets minimum deposit requirement is $200. However, there is no minimum withdrawal amount. 

It is also essential to be aware of bank charges which may be added to their deposits or withdrawals. IC Markets itself does not charge any deposit or withdrawal fees. These fees may vary depending on the trader's preferred deposit or withdrawal method and the amount to be transacted.


Deposit Method

Processing Time

Bank cards


Wire transfer

2-5 Business Days


Payment services

(PayPal, Neteller, Skrill, UnionPay, Klarna, Vietnamese Internet Banking, Rapidpay, Thai Internet Banking, POLI.)



Withdrawal Method

Processing Time

Bank cards


Wire transfer

2 - 5 Business Days


Payment services

(PayPal, Neteller, Skrill, UnionPay, Klarna, Vietnamese Internet, Banking, Rapidpay, Thai Internet Banking, POLI) 


IC Markets Trading Education and Training

IC Markets broker is committed to offering a top-notch learning environment with video journals and articles. The broker creates an opportunity for individuals who have never traded forex or CFDs to pick up the basics. 

With more than 100 articles and videos, the broker offers an excellent content selection for novice and experienced traders. Nevertheless, there is no progress tracking or assessment, and the content is not arranged by expertise level. Therefore, it may take a while for novice traders to navigate the available materials.

In addition to educating its clientele and other potential traders, IC Markets has produced the "IC Your Trade" podcast series. The broker also maintains a YouTube channel that features a library of its previously recorded webinars.


Are Americans allowed to sign up for IC Markets?

Residents of the US are currently not allowed to sign up with IC Markets. This is because the broker is not licensed by any American regulatory authority. American citizens can only become IC Markets clients if they gain access to the platform as residents in licensed regions.

Can I sign up for a demo account?

Both current and potential IC Markets traders can sign up for a demo account. All you need to do is provide basic details about your country of residence, first and last name, email address, and phone number. Users can test out the functionality of all three IC Markets accounts via their demo accounts.

Is IC Markets regulated and safe?

Yes, IC Markets is a safe trading platform regulated by strict regulatory bodies; hence, its credibility. The broker protects investors' funds in segregated accounts which are also covered by insurance. Investors can, thus, rest assured knowing their funds are secured on IC Markets.


IC Markets leads the financial market in terms of order execution and volume of foreign exchange trading. Its ecosystem is conducive for investors, especially professionals who seek top-tier trading environments. On IC Markets, investors enjoy trading benefits such as quick order execution, tight spreads, deep liquidity, and value-added tools.

In addition to offering dependable and secure trading conditions, the broker is fully regulated in four jurisdictions by credible regulatory bodies. Though there are no ICMarkets US clients, its license in other regions depicts the broker's dedication to transparency. IC Markets brokers equally prioritize the needs of its clients with its uninterrupted 24/7 customer service. Overall, this IC Markets review concludes that the broker's unique value proposition is worth every trader's time.

For more top brokers, make sure to check out our IG review and Alpari review.

Trading accounts of IC Markets

  • Standard
  • True ECN
  • cTrader ECN
Trading platforms: MetaTrader 4, Meta Trader 4 Mobile
Trading instruments:
Trading platforms: MetaTrader 4, Meta Trader 4 Mobile
Trading instruments:
Trading platforms: cTrader
Trading instruments:

Contacts of IC Markets

Австралия , СиднейKent Street, 309
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+61 (0)2 8014 4280Телефон штаб-квартиры
Китай , Шанхай
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+86 21 58951182Локальный телефон

Recent customer reviews of IC Markets

Howard Freeman 03 January 2023

Advantages: Variety of payment options

Disadvantages: High minimum deposit

Comment: Well, there are many payment options, and I'd say that's the only advantage. I've been working with this broker for four months, and I can't say that choosing this broker was the best option for me. There's a high deposit, especially for novice traders, and to be honest, it's not worth it. I didn't manage to profit while working with this broker, even though I'm not a beginner in trading, and the platform there is not the most convenient, that's why I'll rate this broker only three stars. But maybe someone will find this broker pretty good to work with, Idk, it just wasn't really for me.

Zach Phillips 12 December 2022

Advantages: Increased order processing speed Low spreads

Disadvantages: No

Comment: I have been trading in two companies all year, and I opened an account in the company for testing a broker and the amount on the account was only $ 200. The account type was chosen by the master. I studied the positive aspects that traders wrote about the broker and decided to check. But in practice, the attitude of employees to the client turned out to be much better than I had met before, now I transfer the balance of all funds only to this broker. The quality of service in all aspects is much higher! I want to start in the new year with this broker as my main broker and, most importantly, reliable.

Marcel Lawrence 07 November 2022

Advantages: Funds are stored safely and securely in isolated bank accounts Support works around the clock

Disadvantages: The broker charges a commission on each order

Comment: They have enough advantages, starting with trading conditions and ending with a convenient and fairly fast withdrawal. Personally, my longest withdrawal took 7 days and it was only once. They have been on the market for a very long time, and this speaks volumes. Most companies that have been working for 5 years or more value their reputation very much. In addition, the broker offers very interesting investment opportunities, in fact, even the most novice can invest and you can start with just $ 100

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IC Markets is often compared with

Vantage FX
FP Markets

Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.