General Information
IC Markets is an Australian-based forex broker established in 2007. The broker offers a wide range of CFD products including forex, indices, energy, and stocks. With leverage up to 1:1000 and support for multiple trading platforms, IC Markets is positioned for traders seeking diversified options. However, it applies swap fees to all account types except Islamic accounts.
The review notes that, although the broker provides various funding options, users have experienced high minimum deposit requirements and slow withdrawal processing times.
IC Markets Overview
IC Markets Overview
IC Markets
- Minimum Deposit$200
- SpreadLow
- Trading FeeFree
- Deposit FeeFree
- Withdrawal FeeFree
- Account OpeningWithin 24 hours
Pros and Cons
Pros and Cons
Pros
- Extremely low spreads in all market conditions
- High-speed trade execution via top-tier data centers
- Wide variety of trading platforms
- Advanced trading infrastructure
- Tailored accounts for scalping, algorithmic, and manual trading
- Large asset selection across 7 instrument types
- Transparent operational model
- Professional-grade analysis tools
Cons
- No 24/7 Thai live chat
- Complex withdrawal procedures
- Long waiting time for support
- No bonuses or client promotions
- User dashboard/navigation not intuitive
Account Types
Account Types
IC Markets offers three main account types with a minimum deposit of $200 and leverage up to 1:1000:
Raw Spread Account (cTrader)
- Platforms: cTrader, TradingView
- Spread: from 0.0 pips
- Commission: $3.00 per USD 100,000
Raw Spread Account (MetaTrader)
- Platforms: MT4, MT5
- Spread: from 0.0 pips
- Commission: $3.50 per lot
Standard Account (MetaTrader)
- Platforms: MT4, MT5
- Spread: from 0.8 pips
- Commission: $0
Each account type supports different styles of trading, offering choices between commission-based or spread-only models.
IC Markets Fees, Spreads, and Commissions
IC Markets Fees, Spreads, and Commissions
Trading Fees
IC Markets offers competitive pricing on its Raw Spread accounts, featuring spreads as low as 0.0 pips and low commissions. The Standard account has wider spreads, ranging from 0.8 pips, but does not charge any trading commissions.
Deposit, Withdrawal, and Other Account Fees
Deposits and withdrawals on IC Markets are free of charge. Accounts are denominated in USD, and currency conversion fees may apply when funding with a different base currency. There are no inactivity or maintenance fees.
Trading Platforms Available on IC Markets
Trading Platforms Available on IC Markets
IC Markets supports most of the popular third-party trading platforms, except for NinjaTrader. Although the platform support is extensive, it does not offer its proprietary trading platform. IC Markets Global cTrader is available for mobile users.
| Trading Platforms | Availability |
|---|---|
| MetaTrader 4 | |
| MetaTrader 5 | |
| cTrader | |
| TradingView | |
| NinjaTrader | |
| Proprietary Platform | |
| Mobile App |
Assets You Can Trade on IC Markets
Assets You Can Trade on IC Markets
IC Markets is a CFD broker with over 2,250 financial instruments. Traders can gain exposure to a wide array of underlying assets, such as stocks, forex, futures, cryptocurrencies, and bonds, with these CFDs.
Its broad asset coverage places it among the top compared to competing CFD brokers such as XM and Pepperstone. Here’s how it compares:
*Comparison between CFD brokers only
Looking for something else? Compare tradable assets, features, and more at a glance with our powerful broker comparison tool.
COMPARE BROKERSDeposit and Withdrawal
Deposit and Withdrawal
Funding Methods
Funding Methods
IC Markets supports funding through:
- Debit / Credit Card
- PayPal
- Wise
- Revolut
Funding Methods
IC Markets supports various funding methods, including:
Bank transfers
Debit/credit cards
E-wallets such as Neteller and Skrill
Online payment systems such as PayPal
The minimum deposit required is $200, which is considered a high barrier for small account traders.
Deposits are typically slow, with the funds generally reflected in the trading account after 1–2 business days, although some sources suggest faster processing times. Withdrawal processing times are also slow, typically taking 1–5 business days.
User reviews mentioned complaints about slow processing and complex procedures. This is a significant drawback for traders needing quick access to their funds.
No internal fees are charged by IC Markets for deposits or withdrawals, but external payment providers may apply charges.
Educational Resources & Research Tools on IC Markets
Educational Resources & Research Tools on IC Markets
Research Tools
IC Markets offers a robust suite of research tools, including proprietary market data and analysis via IC Insights, as well as technical analysis and trade ideas from Trading Central. The MetaTrader platforms also provide advanced analytics, Expert Advisor support, and strategy testing capabilities.
Educational Resources
IC Markets provides a learning centre that includes videos, articles, and webinars suitable for various skill levels. However, the education available is mostly in-house and limited, lacking in advanced strategies and analytics for savvy traders.
IC Markets Customer Support
IC Markets Customer Support
Support Channels
Customer support at IC Markets is available 24/7 through live chat and email. The service is fast, reliable, and the staff are well-trained to deal with a variety of issues. Despite frequent platform issues and lengthy withdrawal processing, the customer service team is transparent and takes accountability when clarifying information.
Language Support
Support is available in a variety of languages, including:
English
Spanish
Arabic
Malay
Chinese
Portuguese
German
Live chat response times are generally quick, while email replies can be slow. However, the team is diligent in following up on issues and resolving them.
Safety and Regulations
Safety and Regulations
IC Markets operates under the regulation of several financial authorities, including:
- ASIC
- Cyprus Securities and Exchange Commission (CySEC)
- Seychelles Financial Services Authority (FSA)
To enhance client safety, IC Markets holds client funds in segregated accounts, offers negative balance protection, employs advanced encryption, and implements fraud prevention measures.
User Experience and Interface
User Experience and Interface
Desktop Navigation and Performance
IC Markets supports a variety of third-party platforms such as cTrader, TradingView, and MetaTrader. The platforms themselves offer advanced charting, algorithmic trading support, and real-time alerts. Although IC Markets lacks a proprietary platform, its support for third-party trading platforms is commendable.
Mobile Navigation and Performance
The IC Markets Global cTrader mobile app is simple and visually clean. It supports:
- Biometric login
- Two-factor authentication
- Custom watchlists
- Visual P&L tracking
- Price alerts
- Economic calendars
- Integrated news feed
However, the app can be laggy and disrupt traders’ experience.
Final Verdict
Final Verdict
IC Markets is a strong choice for traders who prioritise access to a wide range of markets and high-speed execution. Its diverse support for various trading platforms appeals to a broad audience. Its Raw Spread accounts offer very tight spreads, and it operates under the regulation of reputable authorities, such as ASIC.
However, the broker may not be ideal for those seeking low minimum deposits, as its $200 requirement is higher than some competitors. Furthermore, concerns regarding slow and complex withdrawal processes may deter traders requiring quick access to funds, such as day traders or scalpers.
While its research tools are comprehensive, the educational resources are limited for advanced traders, and the absence of a proprietary platform means users must rely on third-party software.
Is IC Markets the Right Broker for You?
If you value powerful research tools, a wide selection of CFDs across asset classes, and competitive spreads with a Raw Spread account, IC Markets may be suited for you. Access to high leverage also provides traders with flexibility in their trading.
Who Should Trade with IC Markets?
Overall, IC Markets is best suited for experienced traders who demand institutional-level tools and technology, are comfortable with third-party platforms, and seek depth and speed in their trading environment.