IC Markets is an Australian CFD broker. It has been operational since 2007. It is one of the better choices for high-frequency traders and those who prefer automated trading solutions.

If you want to open an account with IC Markets, you might want to go through this review first. We have got you covered.

You can find our transparent IC Markets review below. Broker reviews are updated frequently!

IC Markets Review by TradeFX Homepage Screenshot

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  • Low Spreads

  • Low Minimum Deposit

  • MetaTrader 4

  • MetaTrader 5

  • cTrader

  • Broker Verified


  • No FSCA Regulated

  • No ZAR Account Currency Option

  • No Welcome Bonus

IC Markets Regulation

The organization, Australian Securities and Investment Commission (ASIC) and the Seychelles Financial Services Authority (FSA) provide a regulatory framework for IC Markets clients.

IC Markets also operates a subsidiary under the Cyprus Securities and Exchange Commission (CySEC). Still, trading conditions are significantly less favourable, as is common with European regulatory requirements.

3.5 stars from 102 ratings


IC Markets is an Australian CFD broker. It has been operational since 2007. It is one of the better choices for high-frequ...

Sign upSign up
CFD service. Your capital is at risk.
Remember that CFDs are a leveraged product and can result in the loss of your entire capital. Please ensure you fully understand the risks involved.


The IC Markets expand their security approach through external audits and also have professional indemnity insurance. The IC Markets are also a member of the Australian Financial Complaints Authority (AFCA), an approved Australian external dispute resolution body. It is responsible for disputes between customers and financial services providers who maintain membership.

The IC Markets operates worldwide under a few different entities. Despite this, each of these operations makes sure to prioritize trader security and protect the client’s funds.

On that end, the broker holds your funds in segregated accounts with top-of-the-line institutions so that maximum protection is ensured in the case of bankruptcy or insolvency. In which case, your funds would remain untouched.

IC Markets Tradeable products

The IC Markets focus on the most liquid assets and the range of seven asset classes, aligning with its appeal to scalpers and automated trading solutions. The result is great and also appropriate for the majority of traders.

The broker offers more than 60 forex pairs, 120 stocks, 19 commodities, 17 indices, ten cryptocurrencies, eight bonds, and four futures market.

IC Markets Account types

IC Markets offers four account types; cTrader raw spread, raw spread, standard, and an Islamic account.

The cTrader raw spread account type uses the proprietary cTrader software to facilitate high volume forex CFD trades. The account spreads start at 0 pips, and you can get leverage of up to 1:500.

The IC Markets Standard Account is another excellent account choice if you are a new or experienced trader. Here you can get started with $200. Users can trade through the available Metatrader platforms, and the standard account also allows you to trade more than 200 CFDs, including more than 60 forex currency pairs. This all starts with a very competitive trading cost, where spreads start from just one pip.

The RAW Spread Account is an ECN execution-style account. Users can select between trading with MT4, MT5, or cTrader with this account type, so it is a considerably flexible choice. Many of the traders favour this account type for the lightning-fast execution speeds. The spreads of this type are outstanding. It starts from 0 pips, and you have got a competitive commission. It stands at $3.50 per lot traded if you are using MetaTrader, and if you are using cTrader, then $3 per lot.

There’s also an option of an Islamic account, which is a swap-free account. Both the types, standard and raw spread accounts, can be converted to the IC Markets Islamic account on request.

Users can set up the IC Markets demo account for free and use it. It takes just 30 seconds to set up, and you do not have to give any confidential financial information.

The demo account supports all products, including trading platforms and strategies. You can get an overview of everything the IC Markets offers without the risk or financial commitment.

Average Standard Account Spreads on Majors

  • EUR/USD: 0.6
  • GBP/USD: 0.6
  • USD/JPY: 0.6
  • AUD/USD: 0.6

Opening an account

IC Markets’ account opening is completely digital, quick, and simple. In 10 minutes, you can complete the online application form.

To open an account, here’s what you need to do:

  • Provide some contact information, like your email address.
  • Fill out your personal information, like your date of birth and place of residence.
  • Choose your account type and the base currency.
  • Complete a survey about your trading experience.
  • Verify your identity and residency by uploading a copy of your passport or ID and a bank statement or utility bill.

Account currency

There are ten base currencies for opening an account with IC Markets. They are:


Unfortunately, as a South African, you can open an account in ZAR.

Trading platform

The IC Markets offer three platforms: MT4, MT5, and cTrader.

One of the main reasons why some traders prefer cTrader is because it has expanded charting capabilities and straight-through processing (STP) functionality more than other platforms. You can also trade 64 forex pairs, ten major equity indices with cTrader. You can create your own indicators if you use the cAlgo plugin. This is a reason why it is so popular among traders.

On the other hand, MT4 is the most famous trading platform. If you want to develop your own EA, you can use the MQL4 language to develop auto-trading algorithms that work for you and assist you in the trading process.

One major difference with the Meta Trader 5 upgrade is that traders can now trade in single stock entities. Along with this, the opportunity to code and save custom indicators using MQL5 is a brand-new addition.

The IC Markets do not currently have their own integrated application for mobile traders. Instead, it makes use of integrated apps for the trading platforms. For example, you can download the cTrader, MT4, and MT5 app from the broker’s website.

IC Markets Commissions and fees

The IC Markets trading fees are comparatively low because there are different cost structures for different account types. In the Raw Spread Account, the EUR/USD averages about 0.1 pips for a cost of $7 per round lot. A commission-free account is accessible, with the lowest spread mentioned at 1.0 pips and the EUR/USD average spread at 1.1 pips.

There are no fees for withdrawing funds using credit/debit cards or electronic wallets. However, international bank withdrawals are charged an AUD 20 fee.

In comparison to other leading forex brokers, IC Markets does not impose an activity fee. So if you want to keep your account active but take a break from trading, this is a good way to save money.


The level of leverage you can access may also differ depending on the regulation under which you are registered and the IC Markets entity you are affiliated with.

Due to ESMA restrictions, traders based in Europe and registered with IC Markets (EU) Ltd. have a maximum leverage of 30:1 growing to 500:1 as a professional trader.

Outside of Europe, the International Capital Markets Pty entity of IC Markets still provides a maximum leverage of up to 30:1 due to ASIC rules. However, the Raw Trading Ltd entity of IC Markets provides a maximum leverage of 500:1.

Deposits and Withdrawals

IC Markets supports thirteen different withdrawal methods. These consist of bank transfers, credit/debit cards, PayPal, Neteller, UnionPay, BPay, Skrill, FasaPay, Thai Internet Banking, Rapidpay, POLI, Klarna, and Vietnamese Internet Banking.

Withdrawing funds from IC Markets is free for credit/debit cards, bank transfers to Australian bank accounts, and electronic wallets. Withdrawal by international bank transfer, however, has a quite high, AUD 20 fee.

Besides bank transfers, the withdrawal process is straightforward.

Education and Research

IC Markets provides relevant content on its website’s education section as well as the IC Markets blog. These include well-structured and useful topics like technical analysis and risk management, an integral part of the trading world.

The general educational videos are high-quality, but they can only be found on IC Markets’ Vimeo channel and not directly from the website or the trading platform.

The broker also has a small research section on their website that allows clients to keep up with the latest market news released by the broker team and from the wider industry, as well as a full economic calendar.

Customer Service

The IC Markets provide an excellent range of customer service options to ease the lives of their users. They are available in many languages, and your questions can be answered through live chat through the website. You can also contact the support team through email or direct phone call.

Not only this, the website is fully equipped with an excellent range of FAQs to help out the customers as much as possible.

Bonuses and Promotions

While IC Markets do not offer bonuses or other incentives, it practically covers the shortfall with its core trading environment, which is a bonus. Rather than focusing on short-term marketing tactics to boost revenues just once, IC Markets deploy a long-term solution to attract loyal traders looking to deploy strategies for sustainable profitability.

Special features

IC Markets offers ZuluTrade and Myfxbook.

Zulutrade works with the IC Markets to offer copy and social trading if you have registered with them. This is available to EU traders only.

Myfxbook offers a trade copy (account mirroring) solution, and you can open an account and connect it to Myfxbook. After this, select the system you want to mirror and begin trading. There are no volume-based fees, and you do not have to install or learn how to operate the software. This is a particularly useful tool for new traders who want to learn with some inbuilt risk mitigation.

IC Markets South Africa

As a South African, you will be pleased to hear that IC Markets accepts South Africans. Unfortunately, however, it does not allow you to open an account in ZAR.

3.5 stars from 102 ratings


IC Markets is an Australian CFD broker. It has been operational since 2007. It is one of the better choices for high-frequ...

Sign upSign up
CFD service. Your capital is at risk.
Remember that CFDs are a leveraged product and can result in the loss of your entire capital. Please ensure you fully understand the risks involved.

Affiliate program

IC Markets has an affiliate program, where you can earn for every qualified client you refer.

Our verdict

IC Markets is a prominent broker in the industry with a great trading environment. It delivers lightning-fast execution and one of the lowest spreads accessible, beginning at 0 pip.

The IC Market is a good broker for investors who want to run automated trading strategies on MetaTrader and cTrader platforms.

Catering to high-frequency traders helps the broker company achieve comparatively higher trading volumes than its peers since automated trading strategies can typically do a higher turnover than manual traders can, which is an added benefit.

On the broker’s blog, in-house research is published, an excellent educational part is maintained, and popular social trading features are also offered. Simply put, IC Markets checks all the boxes and deserves a spot in any serious trader’s portfolio.

Bottom line

With over 60,000 active traders and a daily turnover of AUD 600 billion, there is no doubt that this is a serious global broker with serious worldwide reach.

It has low forex fees, and creating an account is quick and simple. Deposits and withdrawals are both free, and the process is simple. The website’s education part is also a plus.

Feel free to give IC Markets a try because you can open an account in a day, and there is no inactivity fee.

We value your feedback: Rate this broker by leaving a comment and rating below this review.

Broker FAQ

Thinking of Trading with IC Markets?

IC Markets FAQ

What is IC Markets’s minimum deposit?

The minimum deposit for all account types is $200.

How do I deposit/withdraw from my IC Markets account?

You can deposit/withdraw funds through bank transfers, credit/debit cards, PayPal, Skrill, Neteller, RapidPay, Bitcoin, Litcoin, and UnionPay.

Is IC Markets spreads high?

IC Markets offers tighter spreads on all forex pairs.

What is the maximum leverage at IC Markets?

IC Markets offers maximum leverage of 1:500 depending on its regulatory body.

Does IC Markets use MetaTrader?

Yes, IC Markets uses MT4 and MT5.

Is IC Markets available in South Africa?

Yes, IC Markets is available for South African traders.

IC Markets Logo


IC Markets is an Australian CFD broker. It has been operational since 2007. It is one of the better choices for high-frequency traders.

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