Want to see if IC Markets is a legit broker? Is it safe to trade? It spread is high or low? How long to deposit or withdraw funds?

We provide answers to all the questions in this IC Markets Review.

We checked all IC Markets licenses and regulations to see if IC Markets scam or safe. We compared IC Markets fees like spread & commission from its live account to over 150 brokers, required time for deposit & withdrawal and many more findings all in this review.

What is IC Markets

IC Markets is a global Forex and CFD broker, established in 2007 in Sydney.

The company operates under the license issued by the top-tier ASIC in Australia and additional entity in Cyprus.

IC Markets highlights

πŸ—ΊοΈ Regulated inAustralia, Cyprus, Seychelles
πŸ›‘οΈ Is IC Markets safe to tradeYes
πŸ’΅ EUR/USD spread1.1 pips
🏦 DepositBank Wire, Cards, Skrill, PayPal, WebMoney, Neteller
πŸ’° Minimum depositUS$200
🏦 WithdrawalBank Wire, Cards, Skrill, PayPal, WebMoney, Neteller
πŸ’» Trading platformMT4, MT5, cTrader
πŸ’³ Trading marketsForex, CFDs on Commodity, Indices, Bonds, Cryptocurrency, Futures, Stocks
πŸ“ˆ Number of product242+
πŸ“‰ Live chat responseInstant and relevant answers

Regulation

License and regulation are the keys to traders’ fund security. We check two facts, a license that broker carry also its background, and how you are protected if something goes wrong.

Is IC Markets legit

IC Markets is regulated by several financial authorities, it is established under the Australia Securities and Investment Commission (ASIC) regulation, and expand EU offering via the Cyprus Securities and Exchange Commission (CySEC).

IC Markets licenses and status

EntityRegistered inRegulatorLicense no.Status
International Capital Markets Pty LtdAustraliaAustralia Securities and Investment Commission (ASIC)ACN 123 289 109. AFSL 335692Currently Regulated
IC Markets EU LtdCyprusCyprus Securities and Exchange Commission (CySEC)362/18Currently Regulated
Raw Trading LtdSeychellesSeychelles Financial Supervisory Authority (FSA)SD018Registered
IC Markets Review – ASIC License
IC Markets Review – ASIC License

Is IC Markets safe

Yes, IC Markets is considered safe because it is regulated by the top-tier regulators.

IC Markets operates three legal entities, while recently introduced entity under Seychelles.

IC Markets compensation scheme

EntityCompensation AmountNegative Balance Protection
International Capital Markets Pty LtdNo compensationYes
IC Markets EU Ltd€20,000Yes
Raw Trading LtdNo compensationYes

We recommend you register your account with the EU or Australia entity

IC Markets provides negative balance protection, so your balance will retrieve to 0, in case your trades go negative.

Markets and Products

At IC Markets you can trade Forex Currency Pairs and CFDs on Commodities, Indices, Futures, Stocks, Bonds and Cryptocurrencies.

MarketsInstruments
Forex60
Indices23
Commodities19
Bonds6
Cryptocurrencies10
Shares120+

Account types

IC Markets has three account types with different pricing models and the trading platform. Islamic Accounts available on request.

Login

Login Account available on the website, where you access online account area with full account management.

Live Accounts



Raw Spread cTraderRaw SpreadStandard
Minimum Deposit200 USD200 USD200 USD
Minimum Balance––50,000 USD/EUR/GBP
Spreads From0.0 pips0.0 pips1 pips
Commissions3$ per side3.5$ per sideZero Commissions
IC Markets Review – Account
IC Markets Review – Account

Fees and commissions

We ranked IC Markets fee levels as average based as we recall its Live Account Spread and compare to 150 brokers in our database.

The spread we collected for popular instruments from 6 markets and over 150 brokers

MarketsInstrumentsLowAverageHigh
ForexEUR/USD0.1-0.91-1.51.6 or higher
IndicesUS 5000.1-0.40.5-1.41.5 or higher
CommoditiesGold0.1-0.40.5-22.1 or higher
StocksTesla0.1-0.50.6-11.1 or higher
ETFsUS Russell 20000.1-0.40.5-1.41.5 or higher
CryptocurrenciesBitcoin0.1-0.5%0.6-0.9%1% or higher

Spreads

IC Markets fee structure is different in each account type.  

Comparing the spreads charged for our test trades Raw account spreads average on 0.1 pip for EURUSD, and Standard account to industry benchmarks, we find the spreads for all instruments to be average.

MarketsInstrumentsStandardOther brokers’ avg spread
ForexEUR/USD1.11-1.5
IndicesUS 5000.60.5-1.4
CommoditiesGold20.5-2
StocksTesla0.13%0.6-1
ETFsUS Russell 2000–0.5-1.4
CryptocurrenciesBitcoin100.6-0.9%

Other Fees

IC Markets has average non-trading fees. There is no fee for deposit, or withdrawals, there is no inactivity fee, but trading Stocks may add on data exchange fees.

Trading Conditions

The trading conditions at IC Markets are good. You can deploy mostly all types of strategies including scalping, daytrading, EAs and hedging.

Trading ConditionsYes/No
Hedging AllowedYes
Scalping AllowedYes
Change Leverage AllowedYes

For hedging, there are no time limitations for keeping hedging positions.

For scalping, Raw Spread account is good for scalpers, IC Markets working with ForexVPS.net, NYCServers and Beeks FX for VPS service and run Expert Advisors (EAs).

Deposit

IC Markes charges no deposit fees. You can use 10 account base currencies and deposit via bank transfer, credit cards, PayPal, and various e-payments. But, full range may not be available to EU and Australian clients.

A bank transfer can take several business days, while payment with credit/debit cards and PayPal are instant.

Deposit MethodFunding TimeFee
Bank Wire Transfer2-5 business days0$
Credit / Debit CardInstant0$
PayPalInstant0$
NetellerInstant0$
SkrillInstant0$
WebMoneyInstant0$
BPay12-48h0$
FasPayInstant0$
IC Markets Review – Deposit and withdrawal – Deposit
IC Markets Review – Deposit and withdrawal – Deposit

Minimum Deposit

The required IC Markets minimum deposit is $200 for all account types.

Withdrawal

Similar to deposits IC Markets charges no fees for withdrawal. Same payment options available for withdrawals, but with applied conditions.

IC markets process withdrawals within 1-2 business days, extra days to reach your account are defendant on the provider.

Withdrawal MethodWithdrawal TimeFee
Bank Wire TransferUp to 14 business days20$ for International transfers
Credit / Debit Card3-5 business daysFree
PayPalInstantFree
NetellerInstantFree
SkrillInstantFree
WebMoneyInstantFree
BPayInstantFree
FasPayInstantFree

Bonus

IC Markets does not offer any deposit bonuses.

Trading Platform

IC Markets uses various platforms MetaTrader4, MetaTrader5 and cTrader. 

MT4

IC Markets MetaTrader4 supporting international languages and is enhanced with extra tools. MT4 is available across all devices on Windows, Mac, Android and IOs.

cTrader

cTrader is a choice of daytraders, supporting cAlgos and raw pricing, likewise available on all devices including Mobile App.

IC-Markets-platform
IC Markets Review – MT4 platform

Research and Tools

IC Markets research tools are mainly the ones that are inbuilt into platforms.

Additionally, the broker enhanced MT4 with extra 20 tools like Correlation Matrix, Alarm Manager and Chart Trading. Plus to MAM and PAMM feature.

On the negative side there is no Fundamental data and Analysis or research from leading industry providers.  

IC Markets research tools are available in different places:

  • MetaTrader trading platforms
  • cTrader Platform
  • Trading tools section on the website
IC Markets Review – Research – MAM
IC Markets Review – Research – MAM

Education

IC Markets provides quality educational content. You can find videos, tutorials, Web TV and webinars in its education section.

We didn’t really find negative points, platform videos and all education section is well categorized.

Demo

Demo accounts are on free use and available for all offered platforms including MetaTrader and cTrader.

At IC Markets you can learn in the following ways:

  • Demo account
  • Trading videos and tutorial videos
  • Webinars
  • Educational articles
IC Markets Review – Education
IC Markets Review – Education

Customer Service

IC Markets customer service is good, FAQ section is very informative and we had fast and relevant answer via the Live Chat.

You can contact IC Markets 24/7 by:

  • Live chat
  • Telephone
  • Email
IC Markets Review – Customer Service
IC Markets Review – Customer Service

IC Markets live chat is a little slow speed via website, but agents provide relevant answers

Question AskedWe asked about account types.
Time of ReplyWe were connected to customer support Live Chat within 5 minutes
Quality of ReplyThe answer is informative.

Conclusion

IC Markets is a safe broker to trade. It is a well-established trading brand under supervision offering a good range of trading platforms suitable for any strategy. From the cons we would note limited research tools.

We recommend IC Markets for day traders, scalpers and traders who run EAs, and those who prefer flexibility between platforms and pricing models

Author of this review

By Jimmy O'Brien

Author of this review

Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.

Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.

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