Overview
Founded in Australia in 2007, IC Markets has built a strong reputation among active traders for competitive pricing, fast order execution, and flexible trading technology. Its choice of MetaTrader, cTrader, TradingView, copy trading services, and automation tools makes it especially suitable for scalpers, algorithmic traders, and experienced forex traders.
However, trading conditions are not identical for every client. IC Markets operates through several regulated entities, and the company listed in the client agreement determines important details such as maximum leverage, investor protection, product availability, and access to promotions. Traders should therefore check the legal entity assigned to their account before comparing features or opening a live account.
Pros
- Tight raw-account pricing suits active trading
- A strong mix of platforms, automation, copy trading, VPS, and APIs
- No internal funding or inactivity fees
- Scalping, hedging, and automated strategies are allowed
Cons
- Rules change by legal entity
- No proprietary trading platform
- Promotions depend on region and entity
IC Markets Rating
- Trust and Safety
- Fees and Commissions
- Deposits and Withdrawals
- Tradable Instruments
- Trading Platforms and Tools
- Account Opening
- Customer Support
- Market Research
- Learn
- Bonuses and Promotions
- 1 Star
- 2 Star
- 3 Star
- 4 Star
- 5 Star
How we test Brokers ?
Trust and Safety
IC Markets operates through regulated entities in Australia, Cyprus, Seychelles, and the Bahamas, so the level of protection depends on the company named in the client agreement. Client money is kept separately from the broker's operating funds, while eligible retail clients may also receive negative balance protection. European clients can qualify for compensation through the Investor Compensation Fund, subject to its rules and limits. These safeguards add credibility, but traders should still check the regulator, legal entity, and protection terms attached to their specific account.
Fees and Commissions
Spreads
Raw pricing starts at 0.0 pips, with a published EUR/USD average close to 0.1 pips. Standard spreads start at 0.8 pips. These are floating rates, not fixed quotes, so costs can widen around major news, rollover, or quieter trading hours.
MetaTrader commission
Commission falls on the Raw Pro tiers as the required balance rises. The difference matters most to traders who place many standard lots each month.
cTrader and TradingView commission
cTrader and TradingView calculate commission by trade value rather than by a flat lot charge. The rate is $3 per $100,000 in USD notional value on each side.
Swap fees
An overnight position may receive a swap credit or incur a swap charge, depending on the market, trade direction, and financing rate. Forex and metals normally receive a triple swap on Wednesday, while many other CFDs use Friday. Eligible swap-free accounts use fixed holding charges instead.
Non-trading fees
IC Markets does not charge an inactivity fee, and most deposits and withdrawals are processed without an internal fee. However, banks, card providers, and payment services may apply their own charges. A currency conversion cost can also arise when the payment currency or trading instrument differs from the account's base currency. Traders should check these external costs before transferring funds.
Deposits and Withdrawals
Deposit methods
IC Markets accepts several funding options, including Visa, Mastercard, PayPal, Skrill, Neteller, UnionPay, bank wire transfer, POLi, Klarna, FasaPay, and selected cryptocurrencies such as Bitcoin, Ethereum, Tether, and USD Coin. The methods available to each client depend on the account's currency, country, and legal entity. Most deposits are credited quickly, although bank transfers and some regional payment services can take longer.
Withdrawal methods
Withdrawals follow the same ownership rules as deposits. Mastercard, Visa, PayPal, Skrill, wire transfer, and Neteller are the main options. Where possible, the original deposit is returned through the same route, while profits go to an approved account in the trader's name.
Deposit processing time
Most approved deposits are credited quickly once IC Markets completes its processing. Any extra waiting time usually comes from the bank, payment provider, or blockchain network.
Withdrawal processing time
Withdrawal requests received before 12:00 AEST or AEDT are handled the same day. Later requests move to the next business day, and the chosen payment method then controls the delivery time.
Deposit Methods:
Withdrawal Methods:
Tradable Instruments
Forex
Major, minor, and exotic pairs are available, with scalping, hedging, and automated trading allowed.
Indices
Cash and selected futures-based index CFDs provide exposure to major equity markets through a single contract.
Commodities
The list spans metals, energy, and agriculture. Trading hours and margin rules vary by contract.
Shares
Share CFDs focus on major exchanges and are mainly traded through MetaTrader 5. Costs vary by market.
Bonds
Government bond CFDs suit rate-driven trade ideas and use spread-based pricing on eligible contracts.
Cryptocurrencies
Crypto CFDs trade 7 days a week. Weekend volatility and rapid margin changes make careful position sizing important.
Futures
These CFDs follow contract schedules, so traders should check trading hours and expiry details before entering.
Leverage restrictions
The headline leverage is not available on every position. Account eligibility, exposure tiers, and instrument rules can all lower it.
Trading Platforms and Tools
5/5
MetaTrader 4
A familiar choice for Expert Advisors, custom indicators, scalping, and hedging.
MetaTrader 5
The stronger option for broader market access, deeper analysis, and share CFDs.
cTrader
A modern platform with Level II pricing, advanced orders, C# automation, and built-in copy trading.
TradingView
Best suited to browser-based charting, alerts, community ideas, and strategy testing.
WebTrader and mobile apps
Useful for routine chart checks and trade management, while complex analysis remains easier on desktop.
Copy and social trading
Several copy services are available, but position size and margin still need direct oversight.
Algorithmic and API trading
Automation is available through MQL, C#, FIX API, and cTrader Open API, subject to account approval.
VPS hosting
VPS support helps automated systems stay online. Sponsorship begins at 15 standard lots per month.
Account Opening and Fees
Standard account
A straightforward beginner option because forex costs are built into the spread.
Raw Spread account
Better suited to frequent MetaTrader traders who prefer tighter spreads and separate commission.
cTrader and TradingView Raw account
Choose this version when platform tools matter more than MetaTrader compatibility.
Raw Pro and Raw Pro+
Higher entry balances bring lower per-lot commission for large-volume trading.
Swap-free account
Eligible clients can replace interest-based swaps with fixed holding charges.
Opening process
- Complete the online application with personal, tax, employment, and trading experience details.
- Select the legal entity available for the country of residence.
- Upload a valid photo identity document and proof of address issued within the previous 180 days.
- Choose the platform, account type, leverage level, and one of the 10 supported base currencies.
- Wait for verification and complete any requested suitability checks.
- Fund the account from a payment source held in the same name.
- Download or connect the selected platform and confirm contract specifications before trading.
Customer Support
Support is available 24 hours a day, 7 days a week through live chat, [email protected], and +248 467 19 76. Several Asian, European, and Middle Eastern languages are covered.
Live chat suits quick questions. Email is the better route for verification requests, payment issues, or complaints that need a written record.
Market Research
IC Markets brings its research tools together through IC Insights, Trading Central, an economic calendar, forex calculators, daily market forecasts, and regular blog content. These resources help traders follow market events, review technical ideas, and calculate key figures before placing a trade. The selection covers the essentials well, although beginners may need time to learn how to turn the analysis into a clear trading plan.
Learn
IC Markets has a useful mix of educational content, including webinars, tutorial videos, Web TV, podcasts, a trading glossary, and beginner guides covering forex and CFD basics. The material is practical and easy to explore, although it feels more like a reference library than a structured trading course. New traders will get the most value by combining these resources with demo account practice, clear risk rules, and a trading journal.
Bonuses and Promotions
Deposit bonus
Eligible new or unfunded Raw Trading Ltd clients can receive deposit credit under these terms:
- 100% on the first qualifying deposit, up to $1,000
- 50% on later qualifying deposits, up to $25,000 in total credit
- $50 minimum deposit
- 60-day credit period
- Withdrawals reduce the credit proportionally
No-deposit bonus
No permanent no-deposit bonus applies across the group.
Welcome bonus
No separate welcome bonus is offered; the first-deposit credit fills that role for eligible Raw Trading Ltd clients.
Affiliate program
The affiliate program follows a cost-per-acquisition model. A referral qualifies after the client:
- passes verification
- deposits at least $200
- trades 5 standard lots within 90 days
Raw Trader Plus rebates
High-volume forex and metals traders can receive daily rebates based on rolling 3-month volume:
- $1.50 per standard lot
- $2.25 per standard lot
- $2.50 per standard lot
Final Verdict
IC Markets makes the most sense for traders who care about tight pricing, quick execution, platform choice, and automation. The Standard account keeps costs simple for less active clients, while the Raw options are better suited to scalpers, algorithmic traders, and higher trading volumes.
The legal entity is the detail that deserves the most attention before registration, because it determines leverage limits and client protections. New traders are better served by starting on a demo account, using modest leverage, keeping positions small, and setting a stop-loss before entering the market.
FAQ
What is the maximum leverage at IC Markets?
Eligible global MetaTrader accounts can use leverage up to 1:5000. Other platforms, legal entities, instruments, and retail categories have lower limits.
Which IC Markets account is best for beginners?
The Standard account is usually the clearest choice for beginners because its forex charge is included in the spread rather than shown as a separate commission.
How long does an IC Markets withdrawal take?
Requests received before 12:00 AEST or AEDT are processed by the broker on the same day. The money commonly arrives within 2 to 5 business days, depending on the withdrawal method.
Does IC Markets accept clients from the United States?
No. The listed IC Markets entities do not accept residents of the United States.
Amelia Benedetti
Amelia Benedetti is a forex broker reviewer focused on clear, practical evaluations of online trading platforms. She analyzes broker fees, regulation, account types, trading tools, execution quality, and user experience to help traders compare providers more confidently. Her reviews emphasize transparency, platform reliability, usability, and trader protection, offering balanced insights for both beginners and experienced traders.