IC Markets Broker Review

Written by Richard Perry

Richard Perry

Richard Perry is a recognised expert in technical analysis and market strategy, with significant experience in currency and equity markets. He has set up his own shingle called Perry Market Analysis, providing consultancy analysis of major markets, including research via webinars, videos and written analysis.

, | Updated: August 29, 2025

IC Markets is a leading ECN brokerage with a global footprint, which offers solutions for traders of all skill levels and employing various strategies and trading styles – from scalping to swing and position trading.

In the current broker review, we will pay attention to the key aspects of IC Markets, which you may consider before deciding whether to trade with this brokerage. IC Markets’ page on Trustpilot’s website enjoys a high number of positive reviews, with the broker’s aggregated score being 4.8/5. Of the 46,810 customer reviews submitted by IC Markets clients in August 2025, 91% gave the broker a 5-star rating, while only 3% gave the brand 1 star.

Key Pros and Cons

Let us first provide a quick snapshot of IC Markets’ advantages and disadvantages.

Company Information

IC Markets was established in 2007 by a team of experts with over 20 years of experience in derivative markets. Headquartered in Sydney, Australia, the brokerage was founded with the vision of ensuring fair and transparent access to the Forex market for active traders, while bringing solutions that were previously available only to professionals and institutional investors to retail traders across the globe.

IC Markets Group is comprised of the following entities with their respective regulated offices:

1. International Capital Markets Pty Ltd, regulated by the ASIC; office address: Suite 2, Level 6, 50 Carrington Street, Sydney, NSW 2000, Australia;
2. IC Markets (EU) Ltd, regulated by the CySEC; office address: 86 Franklinou Roosvelt, 4th floor, Office 401, 3011 Omonoia, Limassol, Cyprus
3. Raw Trading Ltd, regulated by the Seychelles Financial Services Authority; office address: Eden House, Floor 1, Eden Island, Mahe, Seychelles;
4. IC Markets Ltd, regulated by the Securities Commission of The Bahamas; office address: Unit 3B, Western Business Centre, Western Road, New Providence, Bahamas.
5. IC Markets (KE) Ltd, regulated by the Capital Markets Authority (CMA) in Kenya; office address: No. 6, 5th Floor, Top Plazza, Kindaruma Road Nairobi, Kenya.

With over 200,000 active clients worldwide, IC Markets is one of the largest Forex and CFD providers by trading volume globally, according to Finance Magnates Q2 2020 Intelligence Report. As of April 2024, the broker reported $1.64 trillion in global trading volume.

Still, we should note that the Australian brokerage does not accept clients from particular countries, including the United States, Canada, Brazil, Japan, New Zealand, Israel, North Korea, and Iran.

Why Trade with IC Markets?

Now, let us provide a quick list of the key features that we like about IC Markets.

Regulation

IC Markets is a multi-regulated forex and CFD provider. In Australia, its home market, it complies with strict regulatory standards of the Australian Securities and Investments Commission (ASIC), which is a top-tier industry regulator.

In the EU, it is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), which is a Tier 2 regulator, or less stringent, for example, than the ASIC, the FCA or FINMA.

Additionally, IC Markets’ operations in other parts of the globe are handled by a corporate entity that is licensed and regulated by the Securities Commission of The Bahamas, which can be considered as rather loose.

A breakdown of the various regulation regimes is presented below.

We can say that the broker’s regulation is good, holding licenses from some tier-1 regulators like the CySEC and ASIC. That ensures a negative balance protection, investor compensation, and riks-assessment through leverage caps for traders registered under the CySEC and ASIC entities.

The lack of FCA regulation, however, means that UK clients will not be able to receive compensation of up to GBP 85,000 from the Financial Services Compensation Scheme (FSCS) in an event of broker insolvency. However, under the CySEC regulation, EU clients will be compensated by the Cyprus Investor Compensation Fund (ICF) for an amount of up to EUR 20,000, if IC Markets’ EU arm fails to meet its financial obligations.

Meanwhile, the lack of a CFTC regulation means that IC Markets cannot provide online trading services to clients based in the United States.

We should also note that the broker does not accept clients from several other countries, including Canada, Israel, New Zealand, Japan and Iran.

KYC Procedure for Account Creation and Depositing

Signing up with IC Markets turned out to be quite fast and effortless process. The entire procedure took us less than 10 minutes, while our live account was verified within 24 hours. We can say that it was a rather standard procedure, the steps of which can be presented as follows:

1. Contact Details – country of residence, first and last name, email address and telephone number;

2. Some Personal Details – date of birth and address;

3. Choosing an account type – individual, joint or corporate;

4. Configuring the trading account – choosing a trading platform, an account type (Standard or Raw Spread) and a base account currency;

5. Trading suitability and security settings – Providing information about your trading experience and selecting a security question. The secret answer to that question will be used by the brokerage to verify your identity when contacting it via phone, email or live chat;

6. Accepting broker’s terms and policies – Declaration that you have read and agree with all the legal documentation of IC Markets, including Terms and Conditions, Order Execution Policy, Privacy Policy and Risk Disclosure Notice;
7. Account verification – Providing proof of ID (Passport, or National ID card, or Driver’s License) and proof of residency (utility bill, or bank account statement), which IC Markets will have to verify.

Once you have filled the profile form and uploaded your identifying documentation, you will have to wait until the brokerage verifies your account. The procedure takes one business day. Once the review is complete, you can fund your account and begin trading.

We should note that IC Markets will also conduct a suitability test, where you will be asked to provide info about your employment and income as well as trading knowledge and experience.

Account Types

In an attempt to satisfy trading needs and financial objectives of clients of all skill levels, IC Markets has designed several types of live trading accounts, including:

• Standard Account
• Raw Spread Account
• cTrader Raw Spread Account

cTrader Raw Spread Account

This is another account type, which allows trading with the lowest possible Forex spreads, starting from 0.0 pips, on IC Markets’ cTrader platform. In exchange for ECN trading conditions, you will be charged a small commission of $6.0 per round turn, per 1 Standard Lot. Similar to the Raw Spread account type, the cTrader Raw Spread Account will be very suitable for both scalpers and day traders.

This type of account is available on the cTrader and TradingView platforms. The maximum number of position orders per account is 2,000, which is ten times higher than the limit available on Raw Spread and Standard accounts.

There are also several additional account types offered by the broker.

1. Multi Accounts Manager – MAM/PAMM
   This is a good solution for money managers and other professionals who can take advantage of flexible allocation methods and real-time reporting of performance and commissions. It is also a suitable solution for money managers who use expert advisors.
2. Islamic Account (Swap-Free)
   IC Markets also offers a swap-free account type suitable for clients of Muslim faith, as there will be no interest fees credited or debited. Trades in major and minor currency pairs, Metals (gold, silver, platinum or palladium) and Stock Indices will be associated with no swap or interest being earned or paid.

   The only exceptions are instruments such as Brent Crude Oil, Natural Gas, WTI Crude Oil and exotic currency pairs, which will incur a small overnight financing charge. Any trades in those instruments that remain active for over 24 hours will incur a flat financing fee ($10 per Lot in GBP/SEK, $30 per Lot in USD/RUB, $50 per Lot in EUR/TRY). The Islamic account option is available on all three main account types.

3. Demo Account
   With IC Markets, you can also open a free Demo Account, which is configured to support all account types, all trading platforms and all trading instruments available with the broker. Since it mimics real-time trading conditions, the demo is very appropriate for testing a variety of trading strategies in a risk-free environment (with virtual money), while also getting acquainted with platform features and tools.

Trading fees and other costs

Selecting a brokerage with low trading fees is a key moment to consider. As with any other CFD and Forex broker, with IC Markets you will need to be aware of two types of fees:

• Trading fees – spreads, commissions and overnight financing rates;
• Non-trading fees – account management fees, deposit and withdrawal fees, non-activity fees.

Let us provide a breakdown of those two categories and see if IC Markets has managed to remain competitive on this front.

Spreads

There are two different pricing models on IC Markets’ main account types:

• Standard Account – all-inclusive spread only;
• Raw Spread Account – extremely tight spreads (starting from 0.0 pips) + a small commission (USD 7.0 per round turn, per lot for USD-based account; EUR 5.5 per round turn, per lot for EUR-based account).

Let us take a look at the average spreads on both account types:

There is a mark-up (of 0.8 pips) to the average spread on IC Markets’ Standard Account to cover the costs of trading.

Now, let us compare the trading costs for the two account types. Let us have a 1 Lot trade on EUR/USD (where 1 pip movement equals $10). Let us assume that the trade is opened and closed at the same price. By using the average spreads, the trading costs for the two accounts will be:

1. Standard Account
   • Spread – 0.82 pips
   • TOTAL COST – 0.82 x $10 = $8.20 per side and $16.40 per round-trip trade.

   .

2. Raw Spread Account
   • Spread – 0.02 pips
   • Spread cost – 0.02 x $10 = $0.20 per side
   • Commission – $7.00 per round turn
   • TOTAL COST – ($0.20 x 2) + $7.00 = $7.40 per round-trip trade.

Finally, let us compare IC Markets Standard Account average spreads with those offered by other brokerages on the three most actively traded Forex pairs.

Clearly, IC Markets outpaces its competitors in terms of average spreads offered on major pairs on a Standard Account.

Commissions

IC Markets will charge a commission of $7.0 for 1 Lot, per round turn (open and close of trade) on its Raw Spread Account.

This means:

• for a 1 Standard Lot trade (100,000 units) you will pay a $7.0 commission to open and close the position;
• for a 1 Micro Lot trade (1,000 units) you will pay a $0.07 commission to open and close the position.

A $7.0 commission for a 1 Lot trade is reasonable, as many other leading brokerages will charge similar commissions. However, an equivalent trade on a zero spread account with brokers such as Fusion Markets will incur a $4.50 commission per round turn, which is among the most competitive offers within the industry right now.

Financing charges

If you hold a currency position overnight, you will incur an overnight financing charge, or swap rate. This charge is determined by the overnight interest rate differential between the two currencies included in the particular pair and whether you are holding a long position or a short position. All swap rates are presented in points, while the MT4 and MT5 platforms will automatically convert them into your base account currency. IC Markets’ MT4 swap rates for some major pairs are presented as follows:

*Swap rates in the table above are from June 11, 2025 and will change over time to reflect constantly evolving market conditions

Deposit fees

IC Markets will not charge any deposit fees, which is a fairly standard practice among major brokerages – for more details see Deposit Methods

Withdrawal fees

IC Markets will also not charge any withdrawal fees on all payment options available. The broker, however, cannot control any fees that may be charged by international banks for wire transfers – for more details see Withdrawal Methods

Inactivity fees

IC Markets will not charge an inactivity fee, in case there has been a period of no trading activity on your account. This is not that frequent circumstance, because many of the large brokerages will charge such a fee. Consequently, IC Markets deserves the top mark on this front.

Overall on Fees

IC Markets offers extremely tight spreads, reasonable commissions and there are no extra fees on top of overnight financing charges. Additionally, you will incur no non-trading costs, which is another huge plus.

We do not give IC Markets the top mark overall on fees, because its commissions are a bit higher compared to those of other industry competitors (such as Fusion Markets, for instance).

Desktop Trading Platforms

Currently, IC Markets does not offer any in-house desktop trading platforms. Still, it offers a decent range of third-party platforms, including MetaTrader 4, MetaTrader 5, cTrader, and TradingView.

MetaTrader4

Already a standard for Forex trading, with IC Markets, MetaTrader 4 is available for both Windows PCs and Mac. Along with the default trading features (one-click trading, chart types, built-in technical indicators and drawing objects, timeframes etc.), IC Markets offers over 20 exclusive trading tools, which were not previously available on MT4. Those include 11 advanced trading applications (such as Correlation Matrix, Alarm Manager, Sentiment Trader, Mini Terminal, Stealth Orders and so on) as well as 17 additional indicators (such as Renko indicator, Keltner indicator, Magnifier indicator, Chart – in – Chart indicator, Donchian indicator, Gravity indicator and so on). This extra package will certainly be praised by traders who seek institutional quality tools on top of the ones provided in the underlying platform.

There are also other key benefits that you can take advantage of:

1. Fast execution of trade orders (which we will discuss in more detail later in the current review);
2. Raw pricing across the broker’s entire Forex and CFD product list, as average spreads remain ultra-tight during the business week due to IC Markets’ deep and diverse liquidity mix;
3. You can hedge your positions, as there is no “first in first out” rule with IC Markets;
4. You have no restrictions on trade sizes – micro lots are available to trade, allowing for a better risk management;
5. You have no restrictions on trade orders – Stop Loss and Take Profit orders can be placed at the closest pip distance possible from the current market price. This feature is not available with some of the other major online brokerages;
6. Flexible options to deposit and withdraw funds (which we will discuss in more detail later);
7. MT4 WebTrader that can be accessed through all popular web browsers, including Chrome, Firefox, Safari, IE 10+. It delivers most of the features available on the desktop version of the platform.

MetaTrader 5

MetaTrader 5 is an updated and improved version of MT4, which grants access to more order types, more timeframes, more technical indicators and drawing objects as well as to a more comprehensive environment for development and backtesting of expert advisors. Additionally, you can trade more asset classes compared to MT4, including Shares CFDs and Futures CFDs.

MetaTrader 5 also allows you to access Level II Pricing. This means the software will disclose the entire range of available prices for each currency directly from IC Markets’ liquidity providers, ensuring full transparency of liquidity and tighter spreads.

1. Raw pricing connectivity offering institutional-grade prices with spreads from 0.0 pips and no dealing desk interference;
2. Fast execution with server latency less than 1 ms from the Equinix NY4 data center;
3. No trading restrictions including scalping and high frequency trading;
4. Supports both hedging and netting trading systems, unlike MT4 which only allows hedging;
5. Automated trading capability with extensive built-in technical indicators and ability to develop Expert Advisors in MQL5;
6. Flexible lot sizing starting from micro lots (0.01) to accommodate different risk management strategies;

This combination makes MT5 on IC Markets a powerful, versatile trading platform for traders who want greater control, more instruments, and superior trading conditions.

cTrader

This trading platform offers user-friendly interface, high-speed performance and deep interbank liquidity in 64 Forex pairs and 16 major Stock Indices. You can take advantage of flexible layout customization options, including detachable charts, expanded symbol display, no restrictions on limit orders, while being able to trade micro lots. There will also be no maximum limit for trade sizes. IC Markets members will be able to trade with cTrader only if they open a Raw Spread account. While raw spreads are also available to MT4 and MT5 users, the cTrader Raw Spread account offers lower round-trip commission, further reducing the trading cost.

In our view, the most important advantages of IC Markets’ cTrader platform include:

1. Access to full Depth of Market – for every single Forex pair, you will be able to see the available volumes for each price level, at any time;
2. Smart Stop Out for maximum account protection – if your margin level falls below the Smart Stop Out level, your active positions will be closed partially, until the margin level is brought back above the Smart Stop Out level;
3. Access to cTrader Algo – automated trading software used along with cTrader. You can develop algorithmic trading systems and customized technical indicators with the use of the source code editor and C# programming language. FIX API access is also ensured.

TradingView

IC Markets’ integration with TradingView brings a premier charting and trading experience to traders worldwide, combining IC Markets’ robust execution and liquidity with TradingView’s advanced analytical tools. TradingView is globally recognized for its best-in-class charts, extensive technical indicators, and a vast social community of over 100 million traders. Through this integration, IC Markets clients gain seamless access to TradingView’s powerful platform, enabling enhanced technical analysis, real-time market data, and full trading execution directly from TradingView charts. This collaboration empowers traders with comprehensive tools designed to maximize market opportunities and streamline trading strategies across multiple devices. Whether trading CFDs on cryptocurrencies, futures, indices, or forex, the integration offers a smooth, efficient, and insightful trading experience.

1. Access to 15+ interactive chart types and 110+ drawing tools for superior technical analysis;
2. Over 400 built-in indicators and thousands of custom community-created indicators;
3. Real-time market data feeds and alerts across multiple asset classes including CFDs on cryptocurrencies, futures, indices, and forex;
4. Ability to execute trades directly from TradingView, combining charting and trading in one platform;
5. Support for demo and live account trading, allowing seamless transition and testing strategies;
6. Social trading features including community chat, strategy sharing, and copy trading capabilities;
7. Multi-device accessibility via desktop and mobile TradingView applications for trading on-the-go;

Copy trading with IC Markets

There are two third-party copy trading services and one in-house social trading platform available with IC Markets:

1. Signal Start – you can replicate the trades of any trading system selected directly into your MT4 account with the broker;
2. ZuluTrade – you can access trading signals from 100,000 top-ranking traders from 192 countries for free directly into your MT4 account with the broker.
3. IC Social – this innovative tool, available to both desktop and mobile users, allows any IC Markets member to connect their MT4 or MT5 account to IC Social and follow popular signal providers, interact with other traders, and share trading ideas with other IC Social members. Copy trading is also a seamless process available through IC Social.

Mobile Trading Platforms

With IC Markets, you can access all trading platforms on a range of mobile devices through a mobile trading app. All MT4, MT5, cTrader, and TradingView mobile apps translate very well from the desktop platform versions.

IC Markets’ MetaTrader mobile app for Android-based devices offers a user-friendly interface, access to real-time Forex and CFD quotes, all trade orders (including pending orders), real-time interactive charts with zoom and scroll, 3 chart types (Bars, Candlesticks, Line) and over 30 popular technical indicators. The app requires Android 5.0 or later. Similar features can be seen on IC Markets’ MetaTrader mobile app for iOS devices (iPhone, iPad, iPod touch). The app requires iOS 12.0 or later.

Meanwhile, the cTrader native app for Android devices will give you access to the same core functionality that cTrader Web offers. You can use effective technical analysis tools (such as common trend indicators, oscillators, volatility measures) and drawing objects (such as lines) directly from within the chart. The app also allows for single-tap order execution, saving you precious time, and visualizes the full balance, margin, profit and loss information. In addition, the cTrader app, which requires Android 7.0 or higher, has a special split-screen interface for devices such as Tablets.

These functionalities and features are very much accessible on the cTrader mobile app for iOS devices as well. It requires iOS 15.0 or later.

Still, we should note that, unlike other leading brokerages such as ThinkMarkets for instance, IC Markets currently does not offer a proprietary mobile trading app.

Trading Instruments

Though IC Markets’ focus is mostly on Forex trading, the broker has expanded its CFD product list over the years and, currently, you will find over 2,250 financial instruments available for trade, spread across diverse markets.

Let us now take a closer look at the product list.

Forex

Currently, IC Markets offers over 61 major, minor and exotic currency pairs to trade, which is a bit above the average among major peers. But what truly makes the broker stand out is its deep liquidity, raw pricing (spreads starting from 0.0 pips on the Raw Spread accounts) and cutting-edge ECN execution technology. The average spread on EUR/USD is 0.02 pips on the Raw Spread Account – one of the most competitive in the entire industry, while the average spreads offered on other majors and on all minor pairs remain ultra-tight 24/5 due to IC Markets’ deep pool of top-tier liquidity providers.

The maximum Forex leverage that can be accessed is 1:1000, but in some jurisdictions such as Australia and the EU there will be leverage caps for retail traders (1:30 on major pairs, 1:20 on minor and exotic pairs). Overall, Forex trading with IC Markets brings numerous key advantages for clients to enjoy.

Stock Index CFDs

With IC Markets, traders will be able to access CFDs on 25 Cash Equity Indices such as Australia S&P ASX 200 Index, Nikkei 225, FTSE 100, DJIA 30, S&P 500 or DE40. The maximum leverage allowed is 1:200, but depends on the entity traders register under.

Minimum spreads start from 0.0 index points (on ASX 200 and US30) and there will be no trading commissions charged. The minimum contract size on the MT5 is 0.1 lot and the maximum reaches 250 lots. Overall, the broker’s selection of Stock Index CFDs is above the average among other industry competitors.

Stock CFDs

With IC Markets, you are able to trade CFDs on over 2,100 large-cap US and Australian Stocks across the ASX, NYSE and NASDAQ exchanges. CFDs on individual company shares are exclusively available on the MetaTrader 5 platform, offering advanced charting tools and world-class execution. The maximum leverage allowed is 1:20, but in certain jurisdictions such as the EU, there will be lower leverage caps of 1:5 for retail traders.

Commission rates for trading stocks vary by exchange. For NASDAQ and NYSE stocks, the commission is $0.02 USD per side per lot, while for the ASX, it is 0.10% per side per lot. Other exchanges such as ETR, AMS, PAR, MAD, and LSE also have a commission of 0.10% per side per lot. The size of one lot equals one share across all exchanges. Volume limits and step sizes vary, with a typical minimum volume of 0.1 or 1 share and maximum volume typically up to 1000 shares.

Margin requirements range from 5% for US and Australian stocks to 20% for stocks on other exchanges. Hedging and scalping are allowed, with zero margin required for hedged positions. Dividends adjustments for long and short positions are handled automatically by the platform.

IC Markets also offers a limited selection of ETF CFDs, which is the case with many leading brokers. We should note that there will now be a fixed market data fee of AUD 22 per month for trading stock CFDs and, additionally, you will be charged a minimum commission of AUD7.00 on every trade (per round turn).

Commodity CFDs

There are over 22 CFDs on commodities available to trade across energies, metals, and soft commodities. Traders can gain exposure to these markets through the MetaTrader 4, 5, cTrader, and TradingView platforms. Leverage varies across the different instruments and entitties, but the maximum can reach 1:1000.

Examples for spot metals available for trading include gold, silver, platinum, and palladium. Spot Energies at IC Markets refer to trading contracts on Crude Oil (XTI), Brent Oil (XBR), and Natural Gas (XNG) as spot instruments against the US Dollar.

IC Markets offers a range of soft commodity CFDs for trading, including popular agricultural products such as wheat, corn, soybeans, coffee, sugar, cocoa, and cotton. These soft commodities are traded as CFDs, providing traders the flexibility to speculate on price movements without owning the physical commodities.

Gold can be traded against several currencies including USD, EUR, AUD, JPY, GBP, and CHF, while silver, platinum, and palladium are primarily traded against USD and sometimes EUR.

Cryptocurrency CFDs

IC Markets offers a robust cryptocurrency CFD trading platform where traders can gain exposure to 21 of the most popular digital currencies traded in pairs against the US Dollar in the form of CFDs. This enables investors to speculate on price movements without owning the underlying coins, eliminating the need to manage wallets or exchanges.

Crypto CFDs at IC Markets can be traded both long and short with leverage up to 1:200 for eligible clients, but in certain jurisdictions, such as the EU, it will be limited to 1:2 for retail traders. The market operates 7 days a week, providing continuous opportunities for day trading. The Bitcoin broker offers popular cryptocurrencies such as Bitcoin, Ethereum and Ripple, along with some altcoins such as Emercoin, PeerCoin, Polkadot or Chainlink.

Bond CFDs

IC Markets’ customers can access 9 bonds issued by governments across the globe, including Europe, Japan, the UK and the US. Notable examples include BTP Italian Bonds, Euro Bond, US 10 Yr Treasury Note, and Japanese 10 Yr. Traders will be able to access these instruments on both the MT4 and the MT5 platforms. The maximum leverage allowed for Bond CFD trading is 1:200. There will be no trading commissions charged. Overall, it is a good selection of CFDs, given that not many online brokerages offer Bonds as tradable instruments.

Futures CFDs

There are five Global Futures available to trade as CFDs at IC Markets, including ICE Dollar Index Futures (DXY), CBOE VIX Index Futures (VIX), Brent Crude Oil Futures (Brent), WTI Crude Oil Futures (WTI), and Gold Futures (GC). Spreads for these five futures CFDs inctruments vary between 0.23 and 3.00. The maximum leverage allowed for Futures CFD trading is 1:200 and there will be no trading commissions charged. Trade sizes for Gold Futures vary between 0.01 and 100 lots, and for all others – between 1 and 250 lots.

On the other hand, what you cannot trade at IC Markets are Options CFDs, Interest Rate CFDs, and other more complex instruments that may lure the attention of professional traders.

Trade Execution

IC Markets is a no dealing desk model brokerage, which utilizes the advantages of an Electronic Communications Network (ECN) in order to execute its clients’ trades. Not only does such a model of operation boost the trust of clients, but it also allows for exceptionally fast execution speeds.

IC Markets sources its pricing from a deep pool of 25 top-tier liquidity providers and those prices are then passed onto its clients without any dealing desk intervention. This diverse liquidity mix allows for ultra-tight spreads across the CFD broker’s product list.

IC Markets utilizes a market execution model. This means all client trades and pending orders are filled at the price streamed on the broker’s trading platform at the moment an order is submitted. It also means there will be no requotes.

The broker claims that its platforms are capable of executing trade orders at an exceptional average speed of 36.5 ms.

IC Markets’ MetaTrader server is located in the Equinix NY4 data centre in New York, which is considered as one of the most secure and reliable financial ecosystems worldwide. The server is cross connected to the broker and its liquidity providers, with the aim being to ensure very low latency and ultra-fast order execution.

The brokerage claims that its MetaTrader server “has latency on average of less than 1 millisecond to major VPS providers either collocated in the NY4 data centre or through dedicated lines to nearby data centres.” These conditions may suit perfectly scalpers, high frequency traders and those who use automated trading strategies.

Meanwhile, IC Markets’ cTrader server is situated in the LD5 IBX Equinix Data Centre in London, which also ensures low latency and outstanding order execution speeds for clients.

We should also note that the Australian brokerage offers high-quality Virtual Private Server (VPS) service, which enables clients to run Expert Advisors 24/7 with the fastest possible connectivity to its trading servers. The VPS subscription with all three providers (Forex VPS, Beeks FX VPS and New York City Servers) will be sponsored by IC Markets, in case clients achieve monthly trading volumes of at least 15 Lots (round turn). This requirement refers to trading volume of Foreign Exchange and Metals only.

Deposits

IC Markets requires a minimum deposit of $200 for all live account types and it will not charge any deposit fees. However, you should bear in mind that there may be charges on transfers to and from international banks, for which IC Markets will not have any responsibility.

The brokerage accepts deposits made in 10 different base account currencies, including Australian Dollar, United States Dollar, Euro, Canadian Dollar, British Pound, New Zealand Dollar, Hong Kong Dollar, Singapore Dollar, Japanese Yen and Swiss Franc. Keep in mind that different entities of IC Markets may support a limited number of account currencies that may differ from your local currency used for deposits. In that case, a standard currency conversion fee is charged.

The brokerage keeps customers’ funds in segregated client money accounts at top-tier international banks. SSL technology secures all payments, with customers’ payment information used solely for account-funding purposes. There is a diversity of account funding options available:

Currently, there are no deposit bonuses available with IC Markets.

Withdrawal Methods

IC Markets now requires of all clients to make withdrawal requests from inside their Secure Client Area. All withdrawals are usually processed within 1 business day (if before 12:00 AEDT). As per present money laundering compliance rules, withdrawals will be matched to the account funding method. IC Markets will not charge any additional fees on fund withdrawals, which we consider as a solid advantage.

Withdrawals made via Debit or Credit Cards may take between 3 and 5 business days to clear, while international bank wire transfers may take longer, depending on your jurisdiction and your receiving bank – up to 14 days. For withdrawals made via this payment method, there will be a processing fee of AUD 20 (or currency equivalent), charged by IC Markets’ banking institution. Meanwhile, bank transfers within Australia will usually clear within 2-3 business days.

Withdrawals via PayPal, Skrill or Neteller will usually clear within 1 business day.

Customer Support Contacts

IC Markets has a great customer support service 24 hours a day, 7 days in a week. Clients are able to contact the broker’s support team via several channels:

1. Live Chat – This is the most convenient and fastest way to contact a representative from the brokerage, as the option is available throughout the entire calendar week. The live chat box is located on the bottom right side on the website.

   We were quite impressed with our live chat experience, as we managed to contact IC Markets in less than half a minute and received swift and precise answers to all of our enquiries.

2. Telephone contact – The broker’s support team can be contacted over the phone only during local business hours, depending on the office location:
   • Seychelles – by dialing +248 467 19 76, Sunday 22:00 – Friday 22:00 (GMT)
   • Australia – by dialing +61 (0)2 8014 4280
   • Cyprus – by dialing +35725123504
   • Bahamas – by dialing +1 626 657 7688, Sunday 22:00 – Friday 22:00 (GMT).

   Telephone contact may incur international charges.

   The broker has also provided several toll free numbers, including:

   • Brazil: +558008783054
   • Thailand: +661800011956
   • Indonesia: +6280332160329
   • Colombia: +5718005190364
   • Vietnam: +8412032513

   We contacted the broker’s Australian office during local business hours and received a response in about 2-3 minutes. We were treated in a truly professional manner and obtained the information we were interested in. We asked about IC Markets’ liquidity providers and execution policy.

3. Email contact – You can send specific inquiries to several email addresses that the broker has provided:
   • Client Relations: rm@icmarkets.com
   • Support: support@icmarkets.com
   • Accounts: accounts@icmarkets.com
   • Marketing: marketing@icmarkets.com
   • General Enquiries: enquiries@icmarkets.com

   We received precise and timely (less than 3 hours) emailed answers to our queries, after contacting the support team during Australian business hours.

   Another contact option includes filling the “Send us a message” form on IC Markets’ website where you can input some of your details and the support team will either send you an email or phone you back.

4. FAQs – You will also find a vast list of Frequently Asked Questions, which could help them resolve their inquiries. The IC Markets’ Help Centre includes FAQs about the broker itself, its trading conditions and accounts, its trading platforms, the Forex market as a whole, questions about CFD trading, issues related to the MetaTrader 4 software, as well as questions relating to the Client Area.

Research and Educational Materials

IC Markets has apparently invested a lot of effort in providing solid, diversified educational materials, including written content, video tutorials and live events (webinars) from both in-house and third-party sources. Here is what you will find:

• Extensive education content in written form on IC Markets’ Blog, which covers topics such as Forex trading basics, Technical Analysis, Fundamental Analysis, Trading Psychology, Trading Plan and Risk Management;
• Content in written form focused on advantages of Forex trading and of trading CFDs;
• Video tutorials focused on all aspects of operating the MetaTrader 4 platform. Very useful for both beginners and intermediate traders;
• Free webinars conducted regularly, where you can access live analysis from industry experts and acquire new skills in real-time. Appropriate for traders of all levels – from novice to advanced.

On the other hand, IC Markets has, at least for the time being, not included any E-books for a more in-depth look into concepts such as financial markets, trading strategies and styles of trading (scalping, day trading etc).

In terms of research, however, the brokerage offers a more limited selection of options. You will be granted access to:

• Fundamental Analysis section with daily publications that cover key factors driving a particular market;
• Technical Analysis section with daily posts focused on technical outlook for several major Forex pairs, Spot Gold and Dow Jones 30 Industrial Average;
• Web TV service, offered in association with Trading Central, which provides coverage on global equities, currencies and commodities;
• Podcast series “IC Your Trade” produced by Bloomberg Media Studios, the information on which is not intended to be used as an investment advice.

Security and Money Guarantees

Our team of experts at bestbrokers.com believes that your money is safe with a respected global brokerage such as IC Markets. Key findings include:

1. 15+ years of business history and expansion
2. Top-tier ASIC regulation
3. ICF compensation for EU clients
4. Negative balance protection (for EU and Australian clients only)

ASIC regulation is stringent and provides assurance that the broker operates in a transparent and ethical manner. All client funds are kept fully segregated from the broker’s own corporate accounts at AA-rated Australian financial institutions. This eliminates the risk of misuse (using client money as reserve capital, for marketing campaigns or other corporate purposes).

In addition, EU-based clients are covered by the Investor Compensation Fund (ICF) in Cyprus in an event of broker failure, as we already discussed. IC Markets Global also keeps its clients’ funds segregated, making sure its non-operational balance is of a substiantial amount that can cover any client compansations in case of insolvency. Additionally, the FSA-regulated entity Raw Trading Ltd. offers a client compensation fund that can cover up to US$1,000,000 per client in the unlikely event of the broker’s insolvency.

And finally, IC Markets offers a valuable risk management tool such as negative balance protection, but only to its clientele located in the EU and Australia. This means that clients from other parts of the globe are not protected against occurrences such as a negative balance, which, in most cases, are the result of abrupt market movement coupled with high leverage ratios. In other words, their losses can exceed their initial deposit and they will have to repay that amount to the broker. In the case with EU and Australian clients, if a negative balance occurs, IC Markets will absorb that loss and will automatically restore the clients’ account balance back to zero. Negative balance protection is an extremely useful risk management tool, particularly for novice traders.

Conclusion

Our team of experts at BestBrokers.com believes that IC Markets offers some of the best trading conditions for Forex trading among peers, due to its:

1. Deep interbank liquidity and competitive raw pricing;
2. Exceptional ECN order execution with no dealing desk intervention, no requotes and minimum risk of slippage (best for scalping, high frequency trading and automated trading);
3. No non-trading costs and flexible account funding options;
4. MetaTrader and cTrader platforms offering comprehensive analytical tools and a range of other benefits;
5. Varied educational content;
6. Professional 24/7 customer support (live chat);
7. Range of account types suiting traders of all skill levels.

Written by R. Perry