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IC Markets Broker Review 2023

Update: August 2023

IC Markets Overview

IC Markets is a prominent forex brokerage with its headquarters situated in Sydney, Australia. The company has been operating since 2007, serving traders globally with its diverse range of trading services. IC Markets holds multiple regulatory licenses, ensuring compliance with different jurisdictions and standards.

On main FX pairs, IC Markets provides its clients with variable spreads that begin at zero pip spreads.

The order matching engine located in the New York Equinix NY4 data center processes over 500,000 trades per day.

IC Markets offers raw spreads from 0.0 pips, no requotes, no price manipulation, and no restrictions.

The broker’s ultra-fast order execution, which typically conducts trades in less than 40 milliseconds, makes it an ideal ecosystem for high-frequency trading, algorithmic strategies, and institutional investors.

IC Markets Regulated by CySEC, ASIC and (FSA) for all clients, except Australians, and other securities features like segregated accounts for their clients.

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Type of Broker: Non-Advisory/Execution Broker (ECN/STP)
Regulation & Licensing: Cysec: Cyprus Securities and Exchange, ASIC: Commission Australian Securities and Investments Commission, FSA: Financial Services Authority (St Vincent & the Grenadines)
Acceptable Clients: from 140 countries.
Assets Offered: Forex, Commodities, Indices, Shares, Bonds, Futures, Cryptocurrencies
Trading Platforms Available: MetaTrader 4, MetaTrader 5, cTrader, AutoTrade (Myfxbook), ZuluTrade
Mobile Apps: Android and iOS
Payment Types: Credit Card, Debit Card, Bank Transfer, Broker-To-Broker Transfer, PayPal, Skrill, Union Pay, Neteller, FasaPay, Poli, Rapid Pay, Klarna, Thai Internet Banking, Vietnamese Internet

IC Markets main highlights

🗺 Country of regulationAustralia, Cyprus, Seychelles
Trading fees classZero & Low
Inactivity fee chargedNo
Withdrawal fee amount$0
Minimum deposit$200
Time to open an account1 day
Deposit with bank cardAvailable
With electronic walletAvailable
Number of base currencies10
Demo accountYes
Products offeredForex, CFD, Crypto

Sign up with a trading account with IC Markets

Get the best Low Spread Forex Brokers to trade Forex, Stocks, Indices, and Commodities
– Instant ECN Execution With IC Markets

Awards & Accolades:

Over the years, IC Markets has received numerous awards and accolades for its excellence in the forex trading industry. These awards recognize the broker’s exceptional trading conditions, technological innovation, and commitment to customer satisfaction. The accolades stand as a testament to IC Markets’ dedication to providing a top-notch trading experience.

Brokerage Specialization:
IC Markets specializes in providing forex trading services to both retail and institutional traders. The broker is renowned for offering tight spreads, high liquidity, and fast execution through their advanced trading platforms. This specialization allows traders to access a wide range of currency pairs and trading tools to suit their trading strategies.

Additional Services:
In addition to forex trading, IC Markets offers a variety of supplementary services to enhance the trading experience. These include:

Commodities Trading: IC Markets provides traders with the opportunity to trade a selection of commodities such as gold, silver, and oil, diversifying their trading portfolios.

Indices Trading: Traders can also access popular stock indices, allowing them to speculate on the performance of global markets.

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Cryptocurrency Trading: IC Markets offers cryptocurrency trading, enabling traders to invest in digital assets like Bitcoin, Ethereum, and more.

Education and Analysis: The broker offers educational resources and market analysis to help traders make informed decisions. This includes webinars, tutorials, and research materials.

VPS Hosting: IC Markets offers Virtual Private Server (VPS) hosting services, ensuring stable and uninterrupted trading for algorithmic and automated traders.

Overall, IC Markets has established itself as a reputable forex brokerage with a global presence, a focus on innovation, and a dedication to providing traders with comprehensive trading services, specialized expertise, and valuable supplementary offerings.

IC Markets welcomes both novices and seasoned traders. The broker accepts a variety of deposit methods, including credit and debit cards, bank transfers, PayPal, Skrill, Union Pay, and Neteller. In addition, all customer funds are held in separate accounts and are fully insured for added security.

IC Markets is the online forex broker of choice for high volume traders, scalpers, and robots.

IC Markets Advantages & Disadvantages

Pros

Incredible Order Execution Rates Support For All Trading Methods & Strategies
User-Friendly Trading Platforms With Additional Tools
Extremely Narrow Variable Spreads and Low Commissions
Customer Service Availability 24/7
No deposit or withdrawal fees.

Cons

Increased Minimum Deposit
Minimum deposit of $200
Not Accepting US Customers

Regulatory Licenses:

Cyprus Securities and Exchange Commission (CySEC) for clients in EEA clients, excluding Belgium, Switzerland, Latvia

Australia – Australian Securities and Investments Commission (ASIC)
for Australian clients.

Seychelles Financial Supervisory Authority (FSA) for All clients, except Australians.

These regulatory licenses provide traders with confidence in the broker’s commitment to following industry regulations.

Segregation of Client Funds. When funding your trading account your funds are held in client segregated accounts with top tier banking institutions

Trading Accounts

IC Markets offers a variety of trading accounts tailored to meet the diverse needs of traders. Each account type comes with specific features and conditions, providing traders with options to choose based on their trading strategies and preferences.

  1. Standard Account:
    • Spreads: Variable, starting from [spread value] pips on major pairs
    • Leverage: Up to [leverage ratio]
    • Minimum Deposit: [Minimum deposit amount]
    • Trading Instruments: Forex, commodities, indices, cryptocurrencies, and more
  2. Raw Spread Account:
    • Spreads: Raw spreads starting from [spread value] pips with a small commission per lot
    • Leverage: Up to [leverage ratio]
    • Minimum Deposit: [Minimum deposit amount]
    • Trading Instruments: Forex, commodities, indices, cryptocurrencies, and more
  3. cTrader Account:
    • Spreads: Raw spreads with a small commission per lot
    • Leverage: Up to [leverage ratio]
    • Minimum Deposit: [Minimum deposit amount]
    • Trading Instruments: Forex, commodities, indices, cryptocurrencies, and more
  4. Islamic Account (Swap-Free):
    • Spreads: Similar to the chosen account type, swap-free
    • Leverage: Up to [leverage ratio]
    • Minimum Deposit: [Minimum deposit amount]
    • Trading Instruments: Forex, commodities, indices, cryptocurrencies, and more
  5. True ECN Account:
    • Spreads: Raw spreads starting from [spread value] pips with a small commission per lot
    • Leverage: Up to [leverage ratio]
    • Minimum Deposit: [Minimum deposit amount]
    • Trading Instruments: Forex, commodities, indices, cryptocurrencies, and more

Sign up with a trading account with IC Markets

Get the best Low Spread Forex Brokers to trade Forex, Stocks, Indices, and Commodities
– Instant ECN Execution With IC Markets

Trading Instruments Overview

Forex Pairs:
61 currency pairs | Tight spreads from 0.0 pips | Up to 1:30 leverage | Deep liquidity

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IC Markets Trading forex

CFDs

IC Markets Trading stocks

CFD Stocks: Access to a range of global stock CFDs,
Spot Metals: Trade precious metals like gold and silver in the spot market
Energies: Trade energy CFDs including natural gas and other energy resources

IC Markets Trading indices

Indices: Opportunity to trade popular stock indices from around the world

IC Markets Trading commodities

Commodities: Trade commodity CFDs including gold, silver, oil, and more

IC Markets Trading crypto

Cryptocurrencies: Trade a variety of cryptocurrency CFDs such as Bitcoin, Ethereum, and others

Other Instruments:

IC Markets Trading bonds

Bonds: Access to bond CFDs for diversification

IC Markets  Trading futures

Futures: Trade futures contracts across different markets

Execution and Spreads Overview

IC Markets places a strong emphasis on providing traders with reliable and fast execution, accompanied by competitive spreads. The broker employs advanced technology to ensure efficient trade execution, catering to traders’ diverse strategies and preferences.

Execution

IC Markets offers traders access to various execution models, including:
Market Execution: Trades are executed at the best available market prices.
True ECN (Electronic Communication Network): Utilizes ECN technology to offer direct access to liquidity providers, resulting in potentially tighter spreads.

Spreads

Spreads vary based on the chosen account type and market conditions.

Standard Account: Variable spreads starting from [spread value] pips on major pairs.
Raw Spread Account and True ECN Account: Raw spreads starting from [spread value] pips with a small commission per lot.
cTrader Account: Raw spreads with a small commission per lot.

Margin Calls:

IC Markets provides a margin call policy to help traders manage their accounts and exposure.
When account equity drops to a certain level, a margin call is triggered, prompting the trader to add funds to maintain open positions.

Negative Balance Protection:
IC Markets offers Negative Balance Protection to ensure that traders’ account balances cannot go below zero. This protects traders from potential losses exceeding their initial deposits.

Free VPS Hosting:

The broker offers free Virtual Private Server (VPS) hosting for eligible traders.
VPS hosting ensures uninterrupted trading for algorithmic and automated strategies by minimizing latency and downtime.

Deposit & withdrawal methods

IC Markets offers its customers several ways of depositing funds into their trading account. Common deposit methods include bank / wire transfer, Paypal, credit card, Skrill, Neteller, UnionPay, Bpay, FasaPay and Poli.

Customer Support:

IC Markets is committed to providing robust customer support services to assist traders at every step of their trading journey. The broker offers multiple channels of communication to cater to traders’ inquiries and needs.

Email Support:

Traders can reach out to IC Markets’ customer support team via email for assistance with various inquiries and concerns.
Live Chat:

IC Markets provides a live chat feature on its website, allowing traders to engage in real-time conversations with support representatives.
Phone Support:

The broker offers phone support through dedicated call centers, enabling traders to receive assistance via phone.
Account Managers:

IC Markets assigns dedicated account managers to certain account types or traders, offering personalized assistance and guidance based on individual trading preferences.
Knowledge Base and FAQs:

The broker maintains a comprehensive knowledge base and frequently asked questions section on its website, providing traders with instant access to valuable information.
Supported Languages:

IC Markets caters to a global clientele by offering customer support in a wide range of languages. This enables traders from different regions to receive assistance in their preferred language.

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Supported Site Languages:

English
Filipino
French
German
Greek
Hungarian
Indonesian
Italian

Supported Customer Support Languages:

English
Filipino
French
German
Greek
Hungarian
Indonesian
Italian
By offering customer support in a multitude of languages, IC Markets ensures that traders can communicate effectively, receive prompt assistance, and have their questions addressed without language barriers.

The variety of support channels and supported languages underscores IC Markets’ commitment to enhancing the trading experience and providing comprehensive assistance to traders worldwide.

Education and Training Overview

IC Markets is dedicated to supporting traders in their quest to enhance their trading skills and knowledge. The broker offers a variety of educational resources and webinars to empower traders with the insights they need to make informed trading decisions.

Educational Material:

IC Markets provides traders with a range of educational materials, including articles, guides, tutorials, and e-books.
Topics cover various aspects of trading, from beginner to advanced levels, encompassing technical and fundamental analysis, risk management, trading strategies, and more.

Webinars:

The broker conducts regular webinars hosted by industry experts and experienced traders.
Webinars cover diverse topics, offering traders the opportunity to learn about market trends, trading techniques, and strategies.
Trading Tools and Resources Overview:

IC Markets equips traders with a suite of trading tools and resources designed to enhance their trading experience and capabilities.

Trading Signals:

IC Markets offers trading signals to assist traders in making trading decisions.
These signals provide insights into potential market opportunities and are based on technical and fundamental analysis.
PAMM (Percentage Allocation Management Module):

The PAMM system allows experienced traders (managers) to manage multiple trading accounts simultaneously.
Investors can allocate funds to these managers, benefiting from their trading expertise while diversifying risk.

VPS Hosting:

IC Markets offers free Virtual Private Server (VPS) hosting to eligible traders.
VPS hosting ensures smooth and uninterrupted automated trading by minimizing latency and downtime.

VPN (Virtual Private Network):

The broker may offer VPN services to ensure secure and private online activities, enhancing traders’ cybersecurity.
IC Markets’ commitment to education and providing trading tools and resources demonstrates its dedication to supporting traders in achieving their trading goals. By offering a wide array of educational content, webinars, and useful trading tools, IC Markets empowers traders to make well-informed decisions and enhance their trading strategies.

Sign up with a trading account with IC Markets

Get the best Low Spread Forex Brokers to trade Forex, Stocks, Indices, and Commodities
– Instant ECN Execution With IC Markets

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Cory has been a professional trader since 2005, and holds a Chartered Market Technician (CMT) designation. He has been widely published, writing for Technical Analysis of Stock & Commodities magazine, Investopedia, Forbes, Benzinga, and others.