At a Glance · Who Should Use IC Markets? · Pros & Cons · How We Tested · Is IC Markets Safe? · Account Types · Spreads, Fees & Commissions · Hidden Fees · Platforms & Tools · Mobile App · Instruments & Leverage · For ICT Traders · vs Competitors · User Reviews · Final Verdict · FAQs
IC Markets is the broker that serious traders gravitate toward when execution quality matters more than fancy features. Founded in 2007 in Sydney, Australia, IC Markets processes over $29 billion in daily forex volume through a True ECN model with 25+ liquidity providers, delivering raw spreads from 0.0 pips on major pairs. Regulated by ASIC (Tier 1) and CySEC (Tier 1), IC Markets offers MT4, MT5, cTrader, and TradingView with zero restrictions on scalping, hedging, or Expert Advisors. I tested their Raw Spread account using ICT methodology on Gold and EUR/USD, evaluated execution speed via their Equinix NY4 servers, and compared pricing against Pepperstone, Exness, and XM. My verdict: IC Markets earns a strong 8.8/10 as the premier choice for traders who prioritise low-cost, institutional-grade execution.
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IC Markets at a Glance
| Detail | IC Markets |
|---|---|
| Founded | 2007 (Sydney, Australia) |
| Regulation | ASIC (Tier 1), CySEC (Tier 1), FSA Seychelles |
| Execution Model | True ECN / STP (No Dealing Desk) |
| Daily Volume | $29B+ in forex trades |
| Liquidity Providers | 25+ tier-1 banks and non-bank LPs |
| Spreads | From 0.0 pips (Raw), from 0.6 pips (Standard) |
| Commission (Raw) | $7/lot RT (MT4/MT5), $6/lot RT (cTrader) |
| Min Deposit | $200 |
| Instruments | 2,250+ (Forex, Stocks, Indices, Crypto, Commodities, Bonds) |
| Platforms | MT4, MT5, cTrader, TradingView |
| Max Leverage | Up to 1:500 (FSA), 1:30 (ASIC/CySEC retail) |
| Server Infrastructure | Equinix NY4 and LD5 data centres |
| Our Rating | 8.8 / 10 |
Last updated and verified: April 6, 2026
Who Should Use IC Markets?
| Trader Type | Verdict | Why |
|---|---|---|
| Scalpers | ✅ Ideal | 0.0 pip raw spreads, Equinix servers, zero requotes |
| Algo / EA Traders | ✅ Ideal | No restrictions on EAs, VPS hosting, API access |
| ICT / SMC Traders | ✅ Excellent | Precise fills on OB/FVG entries, TradingView integration |
| High-Volume Traders | ✅ Excellent | Deep liquidity from 25+ LPs, minimal slippage |
| Beginners | ⚠️ Suitable | $200 min deposit, limited education, raw spreads can confuse new traders |
| Long-Term Investors | ❌ Not Ideal | No stocks (only CFDs), no ETFs, high overnight swap costs |
IC Markets Pros and Cons
| ✅ Pros | ❌ Cons |
|---|---|
| True ECN with raw spreads from 0.0 pips | $200 minimum deposit (higher than some competitors) |
| ASIC + CySEC dual Tier-1 regulation | Limited educational content |
| 2,250+ instruments including 2,100 stock CFDs | No real stocks, ETFs, or bonds (CFDs only) |
| MT4, MT5, cTrader, and TradingView | No proprietary platform or mobile app |
| Zero restrictions on scalping, hedging, and EAs | Offshore entity (FSA Seychelles) for non-AU/EU clients |
| No inactivity fees, no deposit fees, free withdrawals | $20 fee for international bank wire withdrawals |
| Equinix NY4/LD5 co-located servers (sub-1ms latency) | Customer support can be slow during peak hours |
| $29B+ daily volume; deep, stable liquidity | Leverage capped at 1:30 for AU/EU retail clients |
| Copy trading via IC Social, ZuluTrade, Myfxbook | High CFD overnight financing rates |
How We Tested IC Markets
I opened a Raw Spread account with $500, traded EUR/USD and Gold on MT5 during London and New York sessions, measured spread widths at market open and during NFP, tested limit order fill quality on precise ICT levels (Order Block entries and FVG fills), evaluated cTrader execution vs MT5, and timed customer support response via live chat and email. I also compared their pricing against Pepperstone’s Razor account and Exness across 9 major pairs. This review is based on live trading, not demo data.
Is IC Markets Safe? Is IC Markets Legit?
IC Markets holds Tier-1 regulation from both ASIC (Australia, AFSL No. 335692) and CySEC (Cyprus, No. 362/18). Client funds are held in segregated accounts at top-tier banks. CySEC clients receive ICF protection up to €20,000. The broker has operated since 2007 with a clean regulatory record, no major fines, and no history of fund mishandling.
| Regulatory Entity | Tier | Protection |
|---|---|---|
| ASIC (Australia) | Tier 1 | Segregated funds, negative balance protection |
| CySEC (Cyprus/EU) | Tier 1 | ICF up to €20,000, MiFID II compliant |
| FSA (Seychelles) | Tier 3 | Higher leverage (500:1), weaker protection |
ForexBrokers.com gives IC Markets a Trust Score of 84/99. The dual Tier-1 regulation from ASIC and CySEC places IC Markets in the same safety bracket as Pepperstone and other top-tier brokers. If you are outside Australia/EU and assigned to the Seychelles entity, be aware that regulatory protections are significantly weaker.
Account Types
| Feature | Standard | Raw Spread (MT4/MT5) | Raw Spread (cTrader) |
|---|---|---|---|
| Spreads | From 0.6 pips | From 0.0 pips | From 0.0 pips |
| Commission | None (built into spread) | $7 round turn per lot | $6 round turn per lot |
| All-In Cost (EUR/USD) | ~$8.20/lot | ~$7.00/lot | ~$6.00/lot |
| Best For | Beginners | Active traders | Scalpers / lowest cost |
The cTrader Raw Spread account offers the lowest all-in cost at approximately $6 per standard lot round turn on EUR/USD. For ICT traders who need precise fills on specific price levels, the Raw Spread account is the obvious choice.
Spreads, Fees, and Commissions
| Instrument | IC Markets Raw | Pepperstone Razor | Industry Average |
|---|---|---|---|
| EUR/USD | 0.02 pips | 0.0 pips | 1.0-1.2 pips |
| GBP/USD | 0.3 pips | 0.4 pips | 1.2-1.5 pips |
| Gold (XAU/USD) | 0.5 pips | 0.7 pips | 2.0-3.0 pips |
| US30 | 1.0 point | 1.2 points | 2.0-4.0 points |
Hidden Fees and Costs
IC Markets has one of the cleanest fee structures in the industry. No deposit fees. No inactivity fees. No account maintenance fees. Free withdrawals for most methods. The only additional costs are the $20 international bank wire withdrawal fee and overnight swap charges on leveraged positions held past the daily rollover.
Trading Platforms and Tools
IC Markets supports four platforms: MetaTrader 4, MetaTrader 5, cTrader, and TradingView. All four support automated trading with no restrictions. The cTrader platform stands out for its Level II market depth, advanced order types, and the lowest commission structure ($6 round turn vs $7 on MT4/MT5). TradingView integration provides institutional-grade charting with direct trade execution through IC Markets’ ECN infrastructure.
IC Markets offers VPS hosting for low-latency trading, with execution speeds around 1 millisecond. For algorithmic traders, this infrastructure is difficult to match at the retail level.
IC Markets Mobile App
IC Markets does not have a proprietary mobile app. Mobile trading is handled through the MT4, MT5, and cTrader mobile applications, as well as the IC Social copy trading app. The cTrader mobile app offers the best mobile experience, with full order management, Level II pricing, and charting tools. For ICT traders who primarily use desktop, this is a minor limitation. For traders who need a polished proprietary mobile experience, Pepperstone’s recently launched app has the edge.
Instruments and Leverage
IC Markets offers 2,250+ instruments: 60+ forex pairs, 2,100+ stock CFDs, indices, commodities, bonds, and cryptocurrencies. The stock CFD coverage is exceptional. Leverage ranges from 1:30 (ASIC/CySEC retail) to 1:500 (FSA Seychelles), depending on your entity.
IC Markets for ICT and Smart Money Traders
IC Markets is an excellent broker for ICT methodology. Here is why.
Precision fills on ICT levels. When your entry is based on a specific tick within a Fair Value Gap or Order Block, execution quality matters. IC Markets’ ECN model with 25+ liquidity providers delivers fills at or near your requested price with near-zero requotes. During London and New York Kill Zones, spreads on EUR/USD regularly sit at 0.0-0.1 pips.
TradingView integration. Most ICT traders chart on TradingView. IC Markets’ integration means you can mark up your HTF market structure, draw your OB/FVG zones, and execute directly from the same chart without switching platforms.
No strategy restrictions. Scalping, hedging, news trading, overnight holds, and EAs are all permitted. There are no trading style restrictions whatsoever.
cTrader for depth. If you want to see the order book depth around your ICT levels, cTrader’s Level II pricing shows you where liquidity is sitting, which can confirm or invalidate your institutional order flow thesis.
The limitation for ICT traders is leverage. Under ASIC/CySEC, retail leverage is capped at 1:30 for forex. If you trade Gold with ICT methodology and need more leverage, you would need to onboard under the Seychelles entity (1:500), accepting weaker regulatory protection. For a complete guide on trading with ICT concepts, see our market structure guide and trading psychology guide.
IC Markets vs Competitors
| Feature | IC Markets | Pepperstone | Exness | XM |
|---|---|---|---|---|
| Regulation | ASIC, CySEC | FCA, ASIC, CySEC, BaFin | FCA, CySEC, FSA | ASIC, CySEC, DFSA |
| EUR/USD Spread | 0.02 pips | 0.0 pips | 0.0 pips | 0.8 pips |
| Commission (Raw) | $7/lot RT | $7/lot RT | $7/lot RT | N/A |
| Min Deposit | $200 | $0 | $10 | $5 |
| Instruments | 2,250+ | 1,726+ | 300+ | 1,400+ |
| Platforms | MT4, MT5, cTrader, TV | MT4, MT5, cTrader, TV, Own | MT4, MT5, Own | MT4, MT5, Own |
| Best For | ECN execution | All-rounder | Low deposit + leverage | Beginners |
IC Markets vs Pepperstone
The closest competitor comparison. Both offer raw spreads near zero, similar commission structures, Tier-1 regulation, and four platform options. IC Markets has a slight edge on cTrader commission ($6 vs $7 round turn) and instrument count (2,250+ vs 1,726+). Pepperstone has the advantage of FCA regulation, a $0 minimum deposit, a proprietary mobile app, and broader educational content. For pure execution quality, IC Markets edges ahead. For overall experience, Pepperstone is more polished. See our Trading Tools page for both recommendations.
IC Markets vs XM
Different tiers entirely. XM targets beginners with a $5 minimum deposit, generous bonuses, and extensive education. IC Markets targets serious traders with ECN execution and raw spreads. XM’s Standard spread on EUR/USD averages 0.8 pips; IC Markets’ Raw account sits at 0.02 pips plus commission. Choose XM if you are starting out. Choose IC Markets when execution quality becomes your priority.
User Reviews
IC Markets has strong community trust. BrokerChooser rates it highly for fees. FXEmpire gives it a strong score for trading conditions and execution. Independent forum reviews consistently praise the tight spreads and reliable fills. Criticisms tend to focus on customer support response times and the limited educational content. For traders who know what they need, these are minor concerns.
Final Verdict and Rating
| Category | Score | Notes |
|---|---|---|
| Safety & Regulation | 9.0/10 | Dual Tier-1 (ASIC + CySEC), 18 year track record |
| Trading Costs | 9.5/10 | Industry-leading raw spreads, low commission |
| Execution | 9.5/10 | True ECN, Equinix servers, near-zero requotes |
| Platforms | 9.0/10 | MT4, MT5, cTrader, TradingView |
| Instruments | 8.5/10 | 2,250+ but CFDs only (no real stocks) |
| Education | 6.0/10 | Limited; better options at Pepperstone and XM |
| Overall | 8.8 / 10 | Best ECN broker for serious active traders |
IC Markets delivers exactly what its reputation promises: the tightest spreads, fastest execution, and deepest liquidity available at the retail level. From our Mind, Method, Money framework: the Mind benefits from IC Markets’ restriction-free environment that never interrupts your flow. Your Method gets precision execution on every ICT level. And your Money is protected by the lowest all-in trading costs in the industry.
Read The Complete Trader’s Edge for the complete framework. Visit our Trading Tools page for all recommendations.
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Frequently Asked Questions — IC Markets 2026
Is IC Markets safe in 2026?
Yes. IC Markets is regulated by ASIC (Tier 1) and CySEC (Tier 1), with client funds held in segregated accounts. The broker has operated since 2007 with a clean regulatory record.
What are IC Markets’ spreads?
Raw Spread accounts offer spreads from 0.0 pips plus commission ($7/lot RT on MT4/MT5, $6/lot RT on cTrader). Standard accounts offer spreads from 0.6 pips with no commission.
What is the IC Markets minimum deposit?
$200 USD or equivalent. This is higher than XM ($5) and Pepperstone ($0) but lower than many institutional-grade alternatives.
Does IC Markets allow scalping?
Yes. IC Markets has zero restrictions on trading strategies. Scalping, hedging, news trading, and Expert Advisors are all fully permitted.
Is IC Markets good for ICT traders?
Excellent. Raw spreads, precision fills, TradingView integration, and no strategy restrictions make IC Markets one of the best brokers for ICT methodology.
What platforms does IC Markets support?
MetaTrader 4, MetaTrader 5, cTrader, and TradingView. All support automated trading and EAs.
Does IC Markets charge inactivity fees?
No. IC Markets does not charge inactivity, dormancy, or account maintenance fees.
IC Markets vs Pepperstone: which is better?
IC Markets wins on execution and cTrader commission ($6 vs $7). Pepperstone wins on regulation (FCA), zero minimum deposit, and proprietary mobile app. Both are excellent for active traders.
What leverage does IC Markets offer?
Up to 1:500 for FSA Seychelles clients. ASIC and CySEC retail clients are limited to 1:30 on forex.
Does IC Markets offer TradingView?
Yes. IC Markets integrates with TradingView, allowing traders to use TradingView’s charting tools while executing through IC Markets’ ECN infrastructure.
Does IC Markets offer copy trading?
Yes, via IC Social (proprietary app), Myfxbook AutoTrade, ZuluTrade, and MetaTrader Signals.
Is IC Markets an ECN broker?
Yes. IC Markets operates a True ECN (Electronic Communication Network) execution model on Raw Spread accounts, routing orders directly to 25+ liquidity providers without dealer intervention.
How many instruments does IC Markets offer?
2,250+ instruments including 60+ forex pairs, 2,100+ stock CFDs, indices, commodities, bonds, and cryptocurrencies.
Does IC Markets offer real stocks?
No. IC Markets offers stock CFDs only. If you need real stock ownership, consider a dedicated stock broker.
Is IC Markets available in the US?
No. IC Markets does not accept US clients. US traders should consider Interactive Brokers or TD Ameritrade.
