Introduction
IC Markets is a prominent global forex and CFD broker, established in 2007 and headquartered in Sydney, Australia. Known for its robust trading platforms and competitive pricing, IC Markets has cemented its reputation as a preferred choice for traders worldwide. With a focus on providing a seamless trading experience, IC Markets offers a wide array of financial instruments and is committed to transparency and high regulatory standards.
Expert Analysis
IC Markets distinguishes itself in the competitive landscape of online brokerage through its advanced trading infrastructure and commitment to providing low-cost trading solutions. Our thorough analysis of IC Markets evaluates its offerings across various parameters to deliver an informed verdict.
With over a decade of industry experience, IC Markets has built a solid reputation, regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). This regulatory oversight ensures a secure trading environment and adherence to high compliance standards.
One of IC Markets’ standout features is its provision of tight spreads and low commissions, appealing to both retail and institutional traders. The broker offers a comprehensive range of trading instruments, including forex, stocks, cryptocurrencies, indices, and commodities, enabling traders to diversify their portfolios effectively.
Moreover, IC Markets excels in its technological offerings, providing access to popular trading platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These platforms are known for their advanced charting tools, automated trading capabilities, and user-friendly interfaces, catering to the needs of traders at all experience levels.
IC Markets also prioritizes client education and support, offering a wealth of resources including tutorials, webinars, and market analysis to enhance traders' knowledge and skills.
However, some areas for improvement remain, such as the lack of certain social trading features and limited options for beginners seeking more guided trading experiences.
Our expert analysis reaffirms IC Markets as a reliable and efficient brokerage, delivering a superior trading experience backed by stringent regulation, diverse trading instruments, advanced platforms, and comprehensive educational resources.
The Pros and Cons
PROS
✓Regulated by top-tier authorities
✓Tight spreads and low commissions
✓Wide range of trading instruments
✓Advanced trading platforms
✓Excellent customer support
CONS
−Limited social trading features
−May be overwhelming for complete beginners
Is IC Markets Right for You?
IC Markets caters to a diverse client base, from novice traders to seasoned professionals and institutional investors. Its low-cost trading solutions and advanced tools make it particularly appealing to high-frequency and algorithmic traders. At the same time, its extensive educational resources and demo accounts support beginners in their trading journey.
What Sets IC Markets Apart?
Several factors distinguish IC Markets from other brokers:
01Regulatory Oversight
Regulated by ASIC and CySEC, ensuring high standards of client protection.
02Low-Cost Trading
Offers some of the lowest spreads and commissions in the industry.
03Advanced Platforms
Provides access to MT4, MT5, and cTrader, catering to all types of traders.
0424/7 Customer Support
Available around the clock in multiple languages.
Main Features
Regulations
Australian Securities and Investments Commission (ASIC) Cyprus Securities and Exchange Commission (CySEC) Financial Services Authority (FSA), Seychelles
Supported Languages
English Chinese Arabic Thai Spanish Vietnamese Korean Russian Malay Indonesian Portuguese German Italian French Filipino Urdu
Products
Currencies Stocks Crypto Indices Commodities
Deposit Options
Credit/Debit Card Bank Transfer PayPal Skrill Neteller UnionPay
Withdrawal Options
Credit/Debit Card Bank Transfer PayPal Skrill Neteller
Headquarters Country
Australia
Trust and Safety
IC Markets has a strong reputation built on transparency and reliability. The broker is regulated by ASIC (Australia) and CySEC (Cyprus), ensuring adherence to strict regulatory standards and providing traders with a secure trading environment. IC Markets maintains segregated client funds and offers negative balance protection, enhancing the safety and trust of its services.
Regulation
IC Markets operates multiple entities, each regulated by a recognized financial authority, ensuring robust client protection and compliance with international standards:
IC Markets (AU)
Regulated by the Australian Securities and Investments Commission (ASIC), license number 335692.
IC Markets (EU)
Regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 362/18.
IC Markets (SC)
Regulated by the Seychelles Financial Services Authority (FSA), license number SD018.
IC Markets (Global)
Additional oversight from other jurisdictions.
We rate ASIC and CySEC as Tier-1 regulators, providing a high level of client protection. The FSA is considered a Tier-3 regulator, offering a lower level of regulatory scrutiny.
ENTITY & REGULATORLICENSE / REGISTRATIONRATING
International Capital Markets Pty Ltd
Australian Securities and Investments Commission (ASIC)
AFSL 335692
AFSL 335692
TIER 1
IC Markets (EU) Ltd
Cyprus Securities and Exchange Commission (CySEC)
362/18
362/18
TIER 1
Raw Trading Ltd
Financial Services Authority (FSA), Seychelles
SD018
SD018
TIER 3
TIER RATINGS ARE FXCOINZ'S ASSESSMENT OF EACH REGULATOR. TIER 1 IS THE STRICTEST.
Is IC Markets Safe to Trade With?
IC Markets operates under stringent regulatory frameworks, providing a secure trading environment. The broker segregates client funds from operational funds and offers negative balance protection, ensuring that traders cannot lose more than their account balance.
IC Markets operates multiple entities, each regulated by reputable financial authorities, ensuring a varying degree of account security depending on the regulatory body.
For example, clients trading with the Australian entity enjoy a high level of regulatory scrutiny under the Australian Securities and Investments Commission (ASIC), providing robust protections including a compensation scheme for broker insolvency. Similarly, clients under the European entity are regulated by the Cyprus Securities and Exchange Commission (CySEC), which also offers comprehensive oversight and protection mechanisms. In contrast, the offshore entity regulated by the Seychelles Financial Services Authority (FSA) is subject to less stringent regulatory requirements.
IC Markets is also a member of several industry bodies that enhance its credibility and offer additional dispute resolution mechanisms.
SUMMARY
To summarize, IC Markets is considered moderately trustworthy and stable due to the following factors:
✓15-year operating history
✓Multi-asset broker
✓All entities segregate client funds
✓All entities offer negative balance protection
✓Regulation by top-tier authorities (ASIC and CySEC)
✓Membership in industry bodies and adherence to high standards of client protection
Overall, IC Markets provides a secure trading environment with varying levels of regulatory protection based on the entity with which clients choose to trade.
Commission and Fees
IC Markets is renowned for its competitive commission and fee structure, making it a cost-effective choice for traders. The broker primarily operates on a spread-based model, with commissions charged on specific account types.
Commission and Fees Overview
IC Markets offers competitive commission and fees, tailored to suit various trading preferences. Below, we break down key components of their pricing model.
Spread-based Trading
Tight spreads starting from 0.0 pips on major currency pairs.
Commission Fees
Low commissions on Raw Spread accounts, typically $3.5 per lot per side.
Swap Rates
Applicable on overnight positions, varying by currency pair and trade direction.
Transparency
Clear and detailed information on all trading costs.
Deposit & Withdrawal Options
IC Markets offers a diverse range of deposit and withdrawal options to cater to its global clientele. Traders can fund their accounts and withdraw profits using various methods, including bank transfers, credit/debit cards, and electronic payment systems. These options provide flexibility and convenience, allowing traders to choose the method that best suits their preferences and location.
METHODDEPOSITWITHDRAWAL
Credit/Debit Card✓✓
Bank Transfer✓✓
PayPal✓✓
Skrill✓✓
Neteller✓✓
UnionPay✓—
Bank Transfers
IC Markets supports both local and international bank transfers, enabling traders to deposit and withdraw funds directly from their bank accounts. While bank transfers may take longer to process compared to other methods, they are a reliable option for larger transactions and international transfers.
Credit/Debit Cards
Traders can use major credit and debit cards, such as Visa and Mastercard, to fund their IC Markets accounts instantly. This option is convenient for smaller deposits and provides quick access to trading funds.
Electronic Payment Systems
IC Markets supports various electronic payment systems, including Skrill, Neteller, and WebMoney, among others. These e-payment options offer instant deposits and withdrawals, making them ideal for traders who prioritize speed and efficiency.
Cryptocurrency Deposits
Additionally, IC Markets accepts cryptocurrency deposits, allowing traders to fund their accounts using popular cryptocurrencies like Bitcoin and Ethereum. This option appeals to traders who prefer the security and anonymity of blockchain transactions.
Low Fees and Fast Processing
IC Markets aims to provide cost-effective deposit and withdrawal solutions, with minimal fees and fast processing times. However, traders should review the specific fees and processing times associated with each payment method, as they may vary depending on the chosen option and the trader’s location.
In summary, IC Markets' wide range of deposit and withdrawal options, coupled with its commitment to low fees and fast processing times, ensures a seamless and convenient experience for traders worldwide.
Tradable Instruments
IC Markets offers a diverse range of tradable instruments across multiple asset classes to meet the needs of traders with varying strategies and preferences. These include:
Forex (FX) Pairs
Traders can access a wide range of major, minor, and exotic currency pairs, allowing participation in the global forex market with competitive spreads and fast execution.
Commodities
A selection of popular commodities such as gold, silver, crude oil, natural gas, and other metals and energies is available for trading, providing opportunities to diversify portfolios and hedge against inflation or geopolitical risks.
Indices
Trading is offered on major stock indices from around the world, including the S&P 500, NASDAQ, FTSE 100, DAX 30, and Nikkei 225, enabling speculation on the performance of global equity markets.
Shares (Stocks)
Traders can access a broad range of individual stocks from leading companies listed on major stock exchanges, enabling them to trade shares of companies they are familiar with or believe have growth potential.
Cryptocurrencies
Popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and more are available for trading, providing exposure to the emerging asset class of digital currencies.
Bonds
Trading in government and corporate bonds is offered, allowing traders to invest in fixed-income securities and diversify their portfolios with relatively low-risk assets.
Futures
Traders can access futures contracts on various underlying assets, including commodities, indices, and currencies, providing opportunities for speculative trading and hedging against future price movements.
Contracts for Difference (CFDs)
IC Markets also offers CFDs across all the aforementioned asset classes, enabling traders to speculate on price movements without owning the underlying assets.
Overall, IC Markets provides a comprehensive selection of tradable instruments, catering to the diverse needs and preferences of traders across different markets and asset classes.
WHAT ARE CFDS?
A Contract for Difference (CFD) is a financial derivative product that allows traders to speculate on the price movements of various underlying assets, such as stocks, indices, commodities, or currencies, without owning the underlying asset itself. When trading CFDs, traders enter into a contract with the broker to exchange the difference in the price of the asset from the time the contract is opened to when it is closed. CFDs provide traders with the opportunity to profit from both rising and falling markets, as they can take long (buy) or short (sell) positions.
What Can You Trade with IC Markets?
ASSET CLASSEXAMPLE INSTRUMENTS
Forex Major
EUR/USD GBP/USD USD/JPY
Forex Minor
EUR/CHF CAD/JPY GBP/AUD
Indices
DAX 30 Hong Kong 50 US Tech 100
Cryptocurrencies
Bitcoin Litecoin Ethereum
Commodities
Palladium WTI Crude Oil Silver
Account Types
IC Markets offers several account types to suit different trading needs:
01
Standard Account
No commission, suitable for beginners.
02
Raw Spread Account
Low spreads with a commission per lot, ideal for experienced traders.
03
Islamic Account
Swap-free accounts compliant with Islamic finance principles.
Registration and Account Opening
Opening an account with IC Markets is straightforward:
1Visit the IC Markets website and click “Open Account.”
2Complete the registration form with your personal details.
3Verify your email address and phone number.
4Submit identification documents for KYC verification.
5Fund your account using your preferred method.
Restricted Countries
IC Markets does not accept clients from the United States, Canada, Japan, North Korea, Iran, and some other regions due to regulatory restrictions.
FULL LIST40 COUNTRIES & TERRITORIES
AbkhaziaAfghanistanAmerican SamoaBelarusCentral African RepublicChatham Island (New Zealand)CongoCongo - BrazzavilleCongo - KinshasaCubaCuba (Guantanamo Bay)GuamIranNorth KoreaLibyaMaliMartiniqueMayotteMyanmarNew CaledoniaNew ZealandNorthern Mariana IslandsPuerto RicoReunionRussiaSaint BarthélemySaint MartinSaint Pierre and MiquelonSomaliaSouth SudanSudanSyriaTokelauU.S. Virgin IslandsUnited States of AmericaWake IslandWallis and FutunaYemenZanzibarZimbabwe
IC Markets offers access to industry-leading trading platforms:
MetaTrader 4 (MT4)
Popular for its advanced charting and automated trading capabilities.
MetaTrader 5 (MT5)
Enhanced version of MT4 with additional features.
cTrader
Known for its user-friendly interface and advanced trading tools.
Advanced Charting Tools
Comprehensive technical analysis tools.
Automated Trading
Supports Expert Advisors (EAs) and algorithmic trading.
Mobile Trading
Platforms available on mobile devices for trading on the go.
User-Friendly Interface
Intuitive and easy to navigate.
Research and Education
IC Markets provides a robust suite of research and educational resources:
Research
Market Analysis
Daily updates and insights from expert analysts.
Technical and Fundamental Reports
Detailed analysis to guide trading decisions.
Economic Calendars
Keep track of important economic events.
Education
Tutorials and Webinars
Extensive resources covering various trading topics.
Educational Articles
In-depth articles on trading strategies and market analysis.
Demo Accounts
Practice trading in a risk-free environment.
FAQs
15 QUESTIONSWhat is IC Markets?
IC Markets is a global forex and CFD broker offering a wide range of financial instruments and advanced trading platforms.
Is IC Markets regulated?
Yes, IC Markets is regulated by ASIC (Australia) and CySEC (Cyprus).
What trading instruments are available on IC Markets?
IC Markets offers forex, commodities, indices, cryptocurrencies, stocks, and bonds.
What trading platforms does IC Markets offer?
IC Markets provides access to MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.
What are the deposit and withdrawal options on IC Markets?
IC Markets supports bank transfers, credit/debit cards, electronic payments, and cryptocurrency deposits.
Does IC Markets offer educational resources for traders?
Yes, IC Markets offers a comprehensive range of educational materials, including tutorials, webinars, and market analysis.
How can I contact IC Markets customer support?
IC Markets offers 24/7 customer support via live chat, email, and phone.
Is there a minimum deposit requirement to open an account with IC Markets?
IC Markets offers different account types with varying minimum deposit requirements.
Does IC Markets offer demo accounts?
Yes, IC Markets offers demo accounts for practice trading.
Is trading with IC Markets safe?
Yes, IC Markets is regulated by reputable authorities and employs advanced security measures.
Does IC Markets offer bonuses or promotions?
IC Markets occasionally offers bonuses and promotions. Check their website for current offers.
Can I trade on IC Markets using mobile devices?
Yes, IC Markets provides mobile trading applications for iOS and Android.
Does IC Markets offer Islamic trading accounts?
Yes, IC Markets offers swap-free accounts that comply with Islamic finance principles.
How can I open an account with IC Markets?
Open an account online through the IC Markets website, complete registration, verify your identity, and fund your account.
Can I trade with IC Markets if I am a resident of the United States?
No, IC Markets does not accept clients from the United States.
Customer Support
IC Markets offers comprehensive customer support services to assist traders with their inquiries, technical issues, and account-related queries. The broker provides various channels of communication to ensure that traders can reach out for assistance in their preferred method.
Live Chat
IC Markets provides 24/5 live chat support, allowing traders to connect with customer support representatives in real-time. The live chat feature is easily accessible on the IC Markets website and trading platforms, providing quick responses to questions and concerns, thus enabling the resolution of urgent issues efficiently.
Email Support
Traders can also reach out to IC Markets customer support via email. The broker offers dedicated email addresses for different types of inquiries, such as technical support, account verification, and general inquiries. The email support team aims to respond promptly and provide detailed assistance and solutions to traders' concerns.
Phone Support
IC Markets offers phone support during business hours for traders who prefer direct communication. The phone numbers for IC Markets customer support are available on the broker's website, enabling traders to discuss their issues or questions in detail with knowledgeable support agents. This personalized approach enhances the overall customer experience.
FAQs and Knowledge Base
IC Markets maintains an extensive FAQ section and knowledge base on its website, covering various topics related to trading, account management, platform features, and more. Traders can find answers to common questions and solutions to common issues by browsing through the FAQs and articles. The knowledge base serves as a valuable resource for self-help and troubleshooting, enabling traders to find information quickly and independently.
Overall Impression
IC Markets demonstrates a commitment to providing excellent customer support services to its clients. The availability of multiple channels of communication, including live chat, email, and phone support, ensures that traders can seek assistance in their preferred method. The promptness and effectiveness of IC Markets customer support contribute to enhancing the overall trading experience for clients, fostering trust and confidence in the broker's services.
Conclusion
IC Markets stands out as a premier choice for forex and CFD traders, offering a robust combination of low-cost trading, advanced platforms, diverse instruments, and superior customer support. With strong regulatory oversight and a commitment to client education, IC Markets is well-positioned to meet the needs of both novice and experienced traders.
Trading Features
11 OF 14 SUPPORTEDOCO Orders✕ NO
Offers Hedging✓ YES
Automated Trading✓ YES
API Trading✕ NO
Guaranteed Stop Loss✓ YES
Guaranteed Limit Orders✓ YES
Guaranteed Fills / Liquidity✓ YES
Economic Calendar✓ YES
Trading From Chart✓ YES
One-Click Trading✓ YES
Expert Advisor✓ YES
Social Trading✓ YES
Autochartist✕ NO
Trading Signals✓ YES
Further Information
24 Hours Support✓ YES
Support During Weekends✓ YES
Live Chat✓ YES
Daily Market Commentary✓ YES
News (Top-Tier Sources)✓ YES
Webinars✕ NO
Deposit Fee✓ NONE
Withdrawal Fee✓ NONE
Inactivity Fee✓ NONE
Publicly Traded✕ NO
Platform Languages
Portuguese Chinese Arabic Hindi Thai Korean Vietnamese Ukrainian English French Spanish Japanese Bengali Indonesian
Crypto
Ethereum Bitcoin Litecoin Bitcoin Cash Ripple
Products
Currencies Stocks Crypto Indices Commodities
Customer Support Quality
Generally rated highly by users for responsiveness and helpfulness.
Educational Resources
Offers a range of educational materials including tutorials, articles, and webinars.
Research Tools
Provides comprehensive market analysis tools, including technical indicators and trading signals.
Mobile Trading
Offers mobile trading apps for iOS and Android with excellent performance and usability.
Security Measures
Implements strong security protocols including SSL encryption and two-factor authentication.
Trading Contests/Promotions
Occasionally runs trading contests and promotional offers for clients.
Community and Social Features
Provides a social trading platform and community forums for traders to interact and share insights.
Platform Stability and Uptime
Known for stable trading platforms with minimal downtime and interruptions.
PHONE · AUSTRALIA
+61 (0)2 8014 4280
CONTACT
+44 (0)20 3389 4269 (United Kingdom)
LIVE CHAT
Available on the IC Markets website
HEADQUARTERS
2/2 Endeavour House, 78 Stafford Road, Henderson, Auckland, 0612, New Zealand
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. This review includes partner links.