Last updated: September 30, 2025
Overall Rating
4.5
out of 5.0
Score Breakdown
Who Is This Broker For?
Best for: Serious forex and CFD traders who prioritize tight spreads, fast execution, and professional trading platforms.
Pros & Cons
Pros
- True ECN/STP execution with no dealing desk
- Ultra-low spreads from 0.0 pips on major pairs
- High-speed execution (average 40ms)
- MetaTrader 4, MT5, and cTrader platforms
- Deep liquidity from tier-1 banks
- Excellent scalping and algorithmic trading environment
Cons
- Not suitable for stock or ETF investors
- Limited educational content compared to full-service brokers
- Minimum deposit of $200
- Primarily focused on forex and CFDs only
- Less comprehensive research tools
Fees & Costs
Spreads
From 0.0 pips (Raw Spread account); 1.0+ pips (Standard account)
Commission
$7 per lot round turn (Raw Spread); $0 (Standard account)
Overnight/Swap
Market-based swap rates vary by instrument
Deposit Fee
$0 for most methods
Withdrawal Fee
$0 for most methods
Trading Platforms
MetaTrader 4
MetaTrader 5
cTrader
Web
Mobile
Safety & Regulation
Regulated by:
ASIC (Australia)
CySEC (Cyprus)
FSA (Seychelles)
Available in: Global (180+ countries); not available in USA, Canada, Japan, New Zealand
Availability
Countries: Global (180+ countries); not available in USA, Canada, Japan, New Zealand
Languages: 20+ languages including en, es, pt, ru, zh, ar, th, vi
Payment Methods
-
Credit/Debit Card
$0 • Instant
-
Bank Transfer
$0 from IC Markets • 1-3 business days
-
PayPal
$0 • Instant
-
Skrill/Neteller
$0 • Instant
-
Cryptocurrency
Network fees apply • Instant-1 hour
Frequently Asked Questions
What does ECN mean?
ECN (Electronic Communication Network) means IC Markets uses a true market execution model where your orders are matched directly with other traders and liquidity providers without a dealing desk intervention. This creates a transparent trading environment where prices reflect actual market conditions from tier-1 banks and other liquidity sources. Unlike market makers who can take the opposite side of your trades, an ECN broker like IC Markets simply facilitates connections between buyers and sellers. This results in faster execution, tighter spreads (often starting from 0.0 pips on Raw Spread accounts), and no conflict of interest between you and the broker. The ECN model is preferred by professional traders and scalpers who need the best possible pricing and execution speed.
Which account type should I choose?
IC Markets offers two main account types with different cost structures. The Raw Spread account offers spreads starting from 0.0 pips with a commission of $7 per round turn lot ($3.50 each way), making it ideal for high-volume traders, scalpers, and those who want the tightest possible spreads. Total cost on a typical EUR/USD trade might be 0.1 pips spread plus $7 commission. The Standard account has wider spreads (typically 1.0+ pips on major pairs) but charges zero commission, which simplifies cost calculations and is better for beginners or lower-volume traders. Both account types offer the same platform access, leverage, and instruments. If you trade more than 10 lots per month, the Raw Spread account usually offers lower overall costs. You can open both account types and test which works better for your strategy.
Can I use automated trading strategies?
Yes, IC Markets fully supports automated trading and is actually one of the best brokers for algorithmic traders and Expert Advisors (EAs). You can run EAs on MetaTrader 4 and MT5, or use automated strategies on cTrader with cBots. IC Markets has no restrictions on trading styles including scalping, hedging, and news trading, which some brokers prohibit. They offer Virtual Private Server (VPS) services free for active traders (or around $30/month for others), ensuring your EAs run 24/7 with ultra-low latency connections to their servers. The VPS is hosted in Equinix data centers close to IC Markets' servers in NY4 and LD5, providing execution speeds averaging 40 milliseconds. This makes IC Markets particularly attractive for high-frequency traders and those running complex automated strategies that require fast, reliable execution.
Is IC Markets regulated?
Yes, IC Markets operates licensed entities regulated by multiple authorities, though the level of protection varies by jurisdiction. IC Markets Global is regulated by ASIC (Australian Securities and Investments Commission), one of the world's strictest regulators, providing strong client protection including segregated funds and participation in compensation schemes. IC Markets (EU) Ltd is regulated by CySEC (Cyprus), offering EU investor protections. IC Markets (SC) Seychelles Ltd is regulated by FSA Seychelles, which has lighter regulations but allows higher leverage. Depending on your location, you'll be served by the entity appropriate for your region. Client funds are held in segregated accounts at major banks like NAB and Westpac, separate from company operational funds. IC Markets has operated since 2007 with a strong track record and no major client fund issues.
What is the leverage available?
Leverage at IC Markets varies significantly based on your location, account entity, and classification. Clients under ASIC (Australia) regulation are limited to 1:30 leverage for retail traders under recent regulatory changes. EU/CySEC clients face ESMA restrictions: 1:30 for major forex pairs, 1:20 for minor pairs, 1:10 for commodities, 1:5 for stocks, and 1:2 for crypto. However, clients served by the Seychelles entity can access up to 1:500 leverage on forex, though this comes with substantially higher risk. Professional traders who meet specific criteria (experience, portfolio size, trading frequency) can apply for professional classification and access higher leverage even in restricted jurisdictions. IC Markets clearly displays available leverage for your account type before trading. Remember that while high leverage allows larger positions with less capital, it equally amplifies both profits and losses.
How do I open an IC Markets account?
Opening an IC Markets account is straightforward and takes about 10-15 minutes. Visit ICMarkets.com and click 'Open Live Account,' then select your account type (Raw Spread or Standard) and trading platform (MT4, MT5, or cTrader). Provide your personal details including name, email, phone number, date of birth, and address. Complete the regulatory questionnaire about your trading experience, employment, and financial situation. Upload verification documents: government-issued ID (passport or driver's license) and proof of address (utility bill, bank statement, or government document dated within 3 months). Verification typically completes within 24 hours, though it can be instant during business hours. Once verified, deposit funds using your preferred payment method – cards and crypto are instant, while bank transfers take 1-3 days. The minimum deposit is $200. You'll receive login credentials for your chosen platform and can begin trading immediately.
Does IC Markets charge withdrawal fees?
No, IC Markets does not charge withdrawal fees for most payment methods, making it very cost-effective for managing your trading capital. Bank wire transfers, credit/debit card withdrawals, e-wallet withdrawals (Skrill, Neteller, PayPal), and cryptocurrency withdrawals are all processed free of charge by IC Markets. However, intermediary banks may charge fees for international wire transfers, payment processors may have their own fees, and cryptocurrency networks charge blockchain fees, all of which are beyond IC Markets' control. Withdrawals must be made to the same payment method used to deposit (anti-money laundering requirement). E-wallet and crypto withdrawals typically process within 24 hours. Card withdrawals take 3-5 business days. Bank transfers take 2-5 business days. There's no minimum withdrawal amount for most methods, and you can withdraw available funds anytime – funds in open positions or required for margin cannot be withdrawn.
What platforms does IC Markets offer?
IC Markets offers three professional trading platforms, giving you flexibility based on your preferences. MetaTrader 4 (MT4) is the most popular globally, offering extensive Expert Advisor support, thousands of custom indicators, and a massive user community. MetaTrader 5 (MT5) is MT4's successor with more timeframes, additional order types, an economic calendar, depth of market, and access to stocks and futures beyond forex. cTrader is preferred by many professional traders for its superior interface, better depth of market view, more advanced order types, cAlgo for algorithmic trading, and cleaner charting than MT4/MT5. All platforms are available on web, desktop (Windows/Mac), and mobile (iOS/Android). You can run multiple platforms on the same account simultaneously. Each platform accesses IC Markets' same deep liquidity pool and pricing, so your choice depends on interface preference and needed features.
Can I scalp on IC Markets?
Yes, IC Markets is one of the best brokers for scalping strategies, with infrastructure specifically designed to support high-frequency trading. Unlike many brokers that restrict or prohibit scalping, IC Markets welcomes it and provides the necessary conditions: ultra-low spreads from 0.0 pips on Raw Spread accounts, fast execution averaging 40ms, true ECN/STP execution with no requotes, deep liquidity from multiple tier-1 banks, and no restrictions on holding times or number of trades. The broker's servers are housed in Equinix data centers (NY4, LD5, TY3) close to major liquidity providers, minimizing latency. You can use the free VPS service for even faster execution if you're an active trader. IC Markets also allows all trading styles including hedging, news trading, and EA-based strategies. This makes it particularly popular among scalpers and day traders who need reliable, fast execution with minimal slippage.
What is the minimum deposit?
IC Markets requires a minimum deposit of $200 to open a live trading account, which is moderate compared to the industry. While higher than some brokers offering $50-$100 minimums, this $200 threshold ensures you have enough capital to trade with proper risk management and position sizing, especially important when trading forex and CFDs. You can fund your account using various methods: credit/debit cards (instant), bank wire transfer (1-3 days), e-wallets like Skrill/Neteller/PayPal (instant), or cryptocurrency (instant to 1 hour). There are no deposit fees from IC Markets, though your payment provider may charge processing fees. Before depositing, you can practice on IC Markets' free demo account with virtual funds to test the platform. Once you meet the $200 minimum, subsequent deposits have no minimum requirement.
Does IC Markets offer a demo account?
Yes, IC Markets offers a completely free demo account with unlimited duration, providing $100,000 in virtual funds to practice trading without risk. The demo account mirrors live trading conditions exactly, using real market prices, spreads, and execution speeds across all available instruments. You can test the demo on MT4, MT5, or cTrader platforms across web, desktop, and mobile. The demo account includes access to all Raw Spread and Standard account features, allowing you to understand the cost differences before choosing. Unlike some brokers, IC Markets' demo account never expires and can be reset if you run low on virtual funds. You can create a demo account instantly without providing verification documents – just register with your email. This is highly recommended for beginners to spend at least 2-4 weeks practicing, and even experienced traders use demos to test new strategies before risking real capital.
What markets can I trade on IC Markets?
IC Markets focuses primarily on forex and CFDs, offering trading on 232+ instruments across multiple asset classes. Forex includes 60+ currency pairs covering all majors, minors, and exotic pairs with ultra-low spreads. Commodities cover metals (gold, silver, copper, platinum), energies (crude oil, natural gas, brent), and soft commodities. You can trade CFDs on major stock indices from around the world including US, European, Asian, and Australian indices. Stock CFDs are available on select shares from major exchanges. Cryptocurrency CFDs include Bitcoin, Ethereum, Litecoin, Ripple, and other major digital assets trading 24/7. Bond CFDs provide exposure to government bonds. Futures CFDs track popular futures markets. All trading is via CFDs (except for some real stocks in certain jurisdictions), allowing you to go long or short with leverage. The focus is on forex and commodities where IC Markets excels with tight spreads and fast execution.
What customer support does IC Markets provide?
IC Markets provides multilingual customer support through multiple channels with generally positive reviews for responsiveness. Live chat is available 24/5 (Monday-Friday, 24 hours) in 20+ languages, providing the fastest response for most inquiries. Email support typically responds within 24 hours for non-urgent matters. Phone support is available in several regions including Australia, China, and other major markets with local numbers. The Help Center features comprehensive FAQs, video tutorials, and trading guides covering common questions about platforms, deposits, trading, and account management. IC Markets also maintains active social media presence for quick questions and updates. While support quality is generally rated well, response times can be longer during high-volatility periods when demand spikes. Technical support is particularly knowledgeable about trading platforms (MT4, MT5, cTrader) and can help with EA setup and VPS configuration. Weekend support is limited to email only.
Sources & Citations
- https://www.icmarkets.com/
- https://asic.gov.au/
- https://www.cysec.gov.cy/