IC Markets Review 2026: Fees, Regulation & Trading Conditions

IC Markets is a forex and CFD broker established in 2007, offering spread-only and spread-plus-commission pricing through third-party platforms. The contracting entity matters: leverage, client protections and compensation arrangements can differ by jurisdiction and account type.

Best For: Traders who value raw-spread pricing, automated trading tools or a choice of established platforms.

Key Strength: MT4, MT5, cTrader and TradingView are supported, alongside tools for algorithmic and copy trading.

Main Limitation: Costs and protections are not uniform across accounts or entities, and some published minimum-funding and leverage terms differ.

Verdict: IC Markets offers flexible trading tools and pricing structures, but prospective clients should confirm the specific terms attached to their account and contracting entity before depositing.

How We Rate Brokers: View our review methodology.

IC Markets operates through separate entities, and the applicable protections depend on which one holds the account. IC Markets says client money is held separately from its operating funds; this does not make the protections identical across jurisdictions.

Regulatory Licences

International Capital Markets Pty Ltd — ASIC, licence/reference 335692 (Australia).

IC Markets (EU) Ltd — CySEC, licence/reference 362/18 (EEA / Cyprus).

IC Markets Ltd — SCB (Bahamas), licence/reference SIA-F214 (International / Bahamas entity (subject to exclusions)).

Client Protection Measures

Qualifying retail clients of IC Markets (EU) Ltd may be eligible for Cyprus’s Investor Compensation Fund, with protection of up to €20,000. Segregated client accounts are also described for other jurisdictions, but the available terms do not identify a statutory compensation scheme for Australian or offshore clients.

Negative balance protection is generally associated with retail accounts, but eligibility varies by entity and client status; professional clients may not qualify. Clients should check the protections in their account agreement rather than assume that EU safeguards apply to an offshore or Australian account.

Spreads and Commissions

The Standard account uses spread-inclusive pricing, with spreads starting from 0.8 pips in the account terms. Raw Spread pricing starts from 0.0 pips and adds commission: MT4/MT5 Raw Spread is $3.50 per standard lot per side, while cTrader Raw Spread is $3.00 per side. The quoted average spreads are 0.82 pips for EUR/USD and 1.15 pips for GBP/USD; gold is quoted at 0.09 points and the S&P 500 CFD at 0.492 points. These figures use different units across markets and do not establish the total cost of a particular trade.

Stock CFDs can incur commissions regardless of account type. US stock CFDs are described at $0.02 per share, and UK shares at 0.10% of trade value.

Other Trading and Non-Trading Charges

Positions held overnight may incur or receive swap charges, depending on the instrument and direction. Triple swaps are described for Wednesdays on forex and metals, and Fridays for most other CFDs. Swap-free accounts avoid standard overnight interest but may have daily administrative fees on specified instruments, including exotic pairs, some energy products and natural gas.

Currency conversion charges may apply when an instrument or account transfer involves a different currency from the account base currency; the exact charge depends on the transaction. The broker charges no deposit, withdrawal or inactivity fee.

Pricing depends on the account selected. Standard incorporates its trading cost into the spread, while Raw Spread accounts combine narrower spreads with commission; cTrader and MetaTrader commission rates differ. Raw Pro and Raw Pro+ are also offered, with higher funding thresholds described for those account types. Minimum-funding terms are not consistent across the account descriptions: general account information gives $200 for most live accounts, while account-specific terms give no minimum for Standard and Raw Spread. Confirm the applicable requirement for the intended entity and account before funding.

How to Open an Account with IC Markets

Live-account applicants must complete identity and address verification. The usual documents are a government-issued photo ID and a recent proof-of-residence document; additional paperwork may apply to corporate accounts or particular jurisdictions. Verification is required before depositing, trading or withdrawing.

Leverage depends on the contracting entity, client classification, account and instrument. Retail forex leverage is capped at 1:30 under the EU and Australian limits described in the account terms, while the Seychelles entity is described with a general maximum of 1:1000. Other international account terms give maximum leverage up to 1:5000, so that higher ceiling should be treated as account-specific rather than as a universal limit. Instrument limits can be lower, and margin requirements may change with position size or market conditions.

Professional-client treatment can allow higher leverage in some jurisdictions, but eligibility and protections differ. Published margin terms give a 100% margin-call level and a 50% stop-out level; clients should confirm which terms apply to their entity and account. High leverage magnifies both gains and losses and can lead to rapid position closure when margin falls.

Platforms and Trading Features

Trading is available through MetaTrader 4, MetaTrader 5, cTrader, TradingView and WebTrader, with desktop and mobile access. MT4 and MT5 support Expert Advisors, while cTrader offers algorithmic tools and cTrader Open API access. Copy-trading options include cTrader Copy, IC Social and third-party services, subject to regional availability. VPS hosting is also offered, with sponsored access subject to balance or trading-volume conditions.

Order Execution and Trading Restrictions

IC Markets describes its execution as no-dealing-desk routing to liquidity providers. It permits scalping, news trading and hedging, and supports automated strategies. These permissions do not guarantee a particular fill: the broker warns that prices can change between order submission and execution, and that volatility can bring slippage and wider spreads. Execution speed or access to raw spreads should not be treated as protection against those risks.

When Can IC Markets Traders Receive a VPS Without a Separate Fee?

IC Markets Global offers VPS specifications tied to trading volume. Clients must trade at least 15 lots per month to qualify for Standard VPS or 30 lots for Pro VPS, which provides additional computing resources. For an automated strategy that already trades 20 lots a month, the Standard threshold may be a useful benefit. For a system placing two lots, increasing activity just to qualify would be an expensive way to acquire hosting. A VPS helps keep an expert adviser running when the local computer is off; it does not remove market slippage or make the algorithm profitable.

Markets Available at IC Markets

• Forex

  Maximum Leverage1:3.513888889

  • Major
  • Minor/Cross
  • Exotic/Emerging-market (pairs)
• Indices

  Maximum Leverage1:1.430555556

  • Global equity indices (CFDs)
• Cryptocurrencies

  Maximum Leverage1:500

  • Crypto CFDs (coins not specified)
• Commodities

  Maximum Leverage1:500

  • Metals
  • Energy
  • Agriculture
• Stocks

  Maximum Leverage1:20

  • US
  • UK
  • Europe
  • Australia stocks (CFDs)
• Bonds

  Maximum Leverage1:200

  • Government bonds — Japanese government bonds
  • European government bonds (CFDs)

Trading is offered in forex and CFDs across several asset classes. These products are derivatives, so they do not give the same ownership rights as buying the underlying asset.

Market Coverage and Accessibility

Product access and leverage depend on the contracting entity and instrument. Share and bond CFDs have their own leverage limits, while the highest leverage is not necessarily available to every client or on every market. Check the instrument specifications and account terms before trading.

Deposit and Withdrawal Conditions

Funding options vary by region and account. Cards, crypto and e-wallet deposits are usually credited without delay; SEPA deposits generally take one to two business days. Bank-wire withdrawals usually take two to five business days, card withdrawals around three to five business days, and crypto payouts about two hours. These are indicative processing times, not guaranteed settlement times. A bank or card issuer may impose its own conversion or transfer charges.

Customer Support

Customer support operates 24/7 through live chat, email and telephone. Support is offered in multiple languages, including English, Chinese, French, German, Spanish and Arabic.

Broker Comparison Table

Key Competitive Differences

Pepperstone and FP Markets are alternatives, but the available comparisons do not establish that either has lower overall trading costs or better execution than IC Markets. Their standard-account starting spreads are given as 1 pip, while IC Markets’ Standard account terms give a starting spread of 0.8 pips; starting spreads alone are not a like-for-like measure of realised costs.

Market coverage differs: Pepperstone includes ETPs, whereas IC Markets does not offer an ETP category. FP Markets includes bonds, as does IC Markets. Pepperstone’s £10 UK account minimum and FP Markets’ commonly required or recommended $100 minimum relate to their own account and jurisdiction terms; they should not be compared directly with IC Markets’ varying funding requirements without confirming the relevant entity and account.

Traders Who May Benefit

Raw-spread pricing, separate commission choices and support for several automation tools may suit active traders who want to build or run systematic strategies. The range of platforms can also appeal to traders who prefer to use established third-party software rather than a proprietary platform.

Traders Who May Prefer Alternatives

Clients who prioritise a single, clearly established funding threshold or who want to know their precise leverage and compensation arrangements before applying should first confirm those terms with the relevant entity. Traders seeking ETPs may also need to consider a broker whose product range includes them.