IC Markets Review 2025: A Comprehensive Analysis of the Popular Forex Broker

Introduction to IC Markets

Founded in 2007, IC Markets has grown into one of the world’s leading forex and CFD brokers. The Australian-based company has built its reputation on providing traders with institutional-grade liquidity, ultra-fast execution speeds, and some of the tightest spreads in the industry.

Let’s be honest—choosing a forex broker can feel overwhelming. With thousands of options out there, each claiming to be the best, how do you know which one actually delivers? That’s exactly why I’ve put together this review of IC Markets, diving deep into what they really offer in 2025.

Whether you’re just starting out or you’ve been trading for years, this review will break down everything from regulation and account types to platforms and fees—all in easy-to-understand language. I’ll share the good and the bad based on hands-on testing and analysis, so you can decide if IC Markets is the right broker for your trading journey.

Regulation and Trustworthiness

IC Markets’ Regulatory Framework

IC Markets operates through multiple entities, each regulated by different authorities. This multi-jurisdictional approach allows them to serve clients globally while complying with local regulations. As of 2025, IC Markets is regulated by:

With an overall Trust Score of 84/99 according to ForexBrokers.com, IC Markets is considered a trusted broker in the industry. However, it’s worth noting that they are not regulated in key markets like the US, UK, and Canada, which means residents of these countries may not be able to access their services.

Fund Security and Client Protection

IC Markets maintains segregated client accounts, ensuring your funds are kept separate from company operational accounts. This is a critical safety feature that protects traders’ money in case the company faces financial difficulties. Clients under the CySEC-regulated entity also benefit from the Investor Compensation Fund, which provides protection up to €20,000 per client.

The broker also implements industry-standard security measures including:

• Two-factor authentication (2FA) for account login
• SSL encryption for data protection
• Regular security audits and monitoring

Account Types and Features

Standard Account

The Standard Account is IC Markets’ commission-free offering, suitable for beginners and those who prefer simpler fee structures. Key features include:

• No commission charges
• Spreads from 0.8 pips on EUR/USD (average 1.0 pips)
• Minimum deposit of $200
• Available on MT4, MT5, and TradingView
• Maximum leverage of 1:30 for EU/AU clients and up to 1:500 for clients under the FSA-regulated entity

Raw Spread Account

The Raw Spread Account is designed for active traders and scalpers who prioritize tight spreads and are willing to pay a small commission. Features include:

• Spreads from 0.0 pips on major pairs (average 0.1 pips on EUR/USD)
• Commission of $3.50 per lot per side ($7.00 round turn) for MT4/MT5
• Minimum deposit of $200
• Available on MT4 and MT5
• Ideal for algorithmic trading and high-frequency strategies

cTrader Raw Spread Account

The cTrader Raw Spread Account offers the same tight spreads as the MT4/MT5 Raw Spread Account but is specifically for traders using the cTrader platform. Notable features include:

• Spreads from 0.0 pips
• Lower commission of $3.00 per lot per side ($6.00 round turn)
• Minimum deposit of $200
• Exclusive to the cTrader platform
• Includes Level II pricing for increased market depth visibility

Islamic (Swap-Free) Account

IC Markets offers swap-free accounts for traders who follow Islamic principles, which prohibit paying or receiving interest. These accounts are available on all platforms and account types, with no overnight swap fees charged.

Demo Account

IC Markets provides unlimited demo accounts with virtual funds, allowing traders to practice strategies without risking real money. The demo environment replicates live market conditions, with access to all platforms and tools available in live accounts.

Trading Platforms and Tools

MetaTrader 4 (MT4)

Despite being the older platform, MT4 remains the most popular choice for forex traders worldwide due to its simplicity and reliability. IC Markets offers a fully featured MT4 experience with:

• 30+ built-in technical indicators
• Custom indicator support
• Expert Advisors (EAs) for automated trading
• One-click trading
• Advanced charting tools

IC Markets enhances the standard MT4 experience with 20 exclusive advanced trading tools, providing traders with institutional-grade capabilities. According to IC Markets, these tools include sophisticated alarms, trade management utilities, market data analyzers, and decision-making assistants.

MetaTrader 5 (MT5)

MT5 is the next-generation platform from MetaQuotes, offering all the features of MT4 plus additional capabilities. IC Markets’ MT5 implementation includes:

• 38+ technical indicators and 44 analytical objects
• Multi-asset trading (forex, stocks, commodities, indices, cryptocurrencies)
• Enhanced backtesting capabilities
• Economic calendar integration
• More timeframes (21 vs. 9 in MT4)

MT5’s more advanced algorithmic trading features make it particularly suitable for quantitative traders who rely on complex strategies and need access to multiple asset classes.

cTrader

cTrader is a modern, user-friendly platform that’s gaining popularity, especially among traders who value transparency and advanced order types. IC Markets’ cTrader offering includes:

• Level II pricing (depth of market)
• Advanced charting with 70+ indicators
• C# based cAlgo for automated trading
• Detachable charts and customizable layouts
• cTrader Copy for social trading

cTrader’s intuitive interface makes it accessible for beginners while offering enough advanced features to satisfy professional traders. It’s particularly popular among traders who prioritize execution quality and transparency.

TradingView

In 2024, IC Markets integrated with TradingView, allowing traders to execute trades directly from TradingView’s advanced charting platform. Key benefits include:

• Access to TradingView’s extensive technical analysis tools
• Social trading community and idea sharing
• Cloud-based platform accessible from any device
• Pine Script for custom indicator development

Mobile Trading Apps

IC Markets provides mobile apps for all four of its supported platforms, allowing traders to monitor markets and execute trades on the go. Features include:

• Real-time quotes and charts
• Full trading functionality
• Technical analysis tools
• Push notifications for market events
• Account management tools

In addition to platform-specific apps, IC Markets also offers its proprietary “IC Markets” app, which allows users to open accounts, manage funds, and access a feature-packed trading environment.

Spreads, Fees, and Trading Costs

Spread Comparison

IC Markets is renowned for its competitive spreads, which are among the lowest in the industry. Here’s a breakdown of the typical spreads on major currency pairs:

As shown in the table, IC Markets’ Raw Spread accounts offer significantly lower spreads than the industry average, making them particularly attractive for high-frequency traders and scalpers.

Commission Structure

While Standard accounts are commission-free, Raw Spread accounts include the following commission fees:

• MetaTrader Raw Spread Account: $3.50 per lot per side ($7.00 round turn) for USD accounts
• cTrader Raw Spread Account: $3.00 per lot per side ($6.00 round turn)

For currency accounts other than USD, equivalent rates apply:

• AUD Account: AUD 0.045 per side (AUD 0.09 round turn)
• EUR Account: EUR 0.0325 per side (EUR 0.07 round turn)
• GBP Account: GBP 0.0275 per side (GBP 0.06 round turn)

Other Fees

IC Markets keeps additional fees to a minimum:

• Deposit Fees: IC Markets does not charge deposit fees, though third-party payment providers may apply their own fees
• Withdrawal Fees: Most withdrawal methods are free, with the exception of international bank transfers, which may incur a $20 fee
• Inactivity Fees: None
• Overnight Swap Rates: Standard swap fees apply to positions held overnight (except for Islamic accounts)

Execution Speed and Technology

ECN Connectivity

IC Markets operates as an Electronic Communication Network (ECN) broker, connecting traders directly with liquidity providers. This model eliminates conflicts of interest and ensures faster execution and tighter spreads.

According to FX Empire, IC Markets achieves an average execution speed of around 40 milliseconds, which is faster than the industry average. This ultra-fast execution is particularly beneficial for scalpers, news traders, and algorithmic systems where even minor delays can impact profitability.

Server Infrastructure

IC Markets has invested significantly in its technological infrastructure:

• Servers located in the Equinix NY4 data center in New York
• Cross-connected to top-tier liquidity providers
• Latency less than 1 millisecond to major VPS providers
• Dedicated fiber optic connections

This robust infrastructure ensures reliable connections and minimal downtime, even during periods of high market volatility.

Virtual Private Server (VPS)

For traders using Expert Advisors or algorithmic strategies, IC Markets offers VPS hosting solutions. This service provides:

• 24/7 operation of trading algorithms
• Reduced latency due to proximity to IC Markets’ servers
• Elimination of connectivity issues related to personal internet connections
• Free VPS service for accounts meeting minimum deposit or trading volume requirements

Available Markets and Instruments

IC Markets offers more than 3,500 tradable instruments across multiple asset classes, providing traders with diverse opportunities for portfolio diversification.

Forex

With 61 forex pairs available, IC Markets covers all major, minor, and many exotic currency combinations. Major pairs like EUR/USD, GBP/USD, and USD/JPY benefit from the tightest spreads and highest liquidity.

CFDs

IC Markets offers Contract for Difference (CFD) trading on multiple asset types:

• Indices: 21 major global indices including S&P 500, NASDAQ, FTSE 100, and DAX 30
• Commodities: 25 products including gold, silver, oil, natural gas, and agricultural products
• Stocks: Over 2,100 shares from global markets
• Bonds: Government and corporate bond CFDs

Cryptocurrencies

IC Markets provides access to 21 cryptocurrency CFDs, including major coins like Bitcoin, Ethereum, and Litecoin, as well as emerging altcoins. It’s worth noting that these are CFD products, meaning traders can speculate on price movements without owning the underlying cryptocurrencies.

Deposit and Withdrawal Methods

Deposit Options

IC Markets offers a wide range of deposit methods to accommodate traders globally:

• Credit/Debit Cards: Visa, Mastercard, UnionPay
• Electronic Payment Processors: PayPal, Skrill, Neteller, FasaPay, POLi
• Bank Transfers: International and domestic wire transfers
• Local Payment Methods: BPAY (Australia), China UnionPay, Thai Internet Banking
• Cryptocurrencies: Bitcoin, Ethereum, USDT

Deposits are typically processed instantly for card payments and e-wallets, while bank transfers may take 1-3 business days.

Withdrawal Process

Withdrawals at IC Markets are straightforward and processed quickly:

• Requests submitted before noon AEST/AEDT are processed the same day
• Most withdrawal methods are free of charge
• Funds are returned to the same source used for deposits (anti-money laundering requirement)
• Identity verification required for first-time withdrawals

According to Trustpilot reviews, users consistently praise IC Markets for its fast and reliable withdrawal process, which is often a pain point with other brokers.

Copy and Social Trading

IC Social Mobile App

In recent years, IC Markets has launched its own social trading platform called IC Social, available as a mobile app for both iOS and Android. Key features include:

• Copy successful traders’ strategies automatically
• Connect directly with your MT4 live account
• Real-time communication with other traders
• Performance tracking and analytics
• Option to become a signal provider

IC Social represents IC Markets’ push into the increasingly popular social trading space, allowing traders to learn from each other and potentially benefit from more experienced traders’ strategies.

cTrader Copy

For cTrader users, IC Markets offers cTrader Copy, an integrated copy trading solution that allows investors to:

• Browse and follow successful strategies
• Adjust risk and investment parameters
• Monitor performance in real-time
• Add or remove funds automatically

ZuluTrade Integration

IC Markets also integrates with ZuluTrade, a third-party copy trading platform that features thousands of signal providers from around the world. This gives traders access to a broader range of strategies and performance histories.

Educational Resources and Research Tools

Educational Content

IC Markets provides a variety of educational materials for traders at different skill levels:

• Video Tutorials: Step-by-step guides on using trading platforms and implementing strategies
• Trading Guides: Articles covering basic and advanced trading concepts
• Webinars: Live and recorded sessions on various trading topics
• Blog: Regular updates on market trends and trading strategies

While IC Markets’ educational content is solid, reviewers note that it’s not as comprehensive as what some competitors offer, particularly for beginners. As ForexBrokers.com points out, IC Markets “trails top forex brokers in scope of market research and quality of educational content.”

Market Analysis and Research

IC Markets has improved its research offerings in recent years, now providing:

• Daily Market Analysis: Technical and fundamental analysis on major markets
• Economic Calendar: Upcoming economic events and their potential market impact
• Trading Central: Professional technical analysis and trading signals
• IC Insights: A comprehensive investment research and analysis platform powered by TipRanks
• Autochartist: Automated pattern recognition and market scanning

The integration with TipRanks through IC Insights represents a significant enhancement to IC Markets’ research capabilities, providing traders with news sentiment analysis, investor sentiment tools, analyst ratings, and trending stocks information.

Customer Support

IC Markets provides 24/7 customer support through multiple channels:

• Live Chat: Available directly from the website and trading platforms
• Email Support: Typically responds within 24 hours
• Phone Support: International numbers available for different regions
• Help Center: Comprehensive FAQ and troubleshooting guides

According to Trustpilot reviews, IC Markets’ customer support is highly rated (4.8/5), with users praising the responsiveness and helpfulness of support agents. The multilingual support team can assist traders in multiple languages, though some users report occasional delays during peak periods.

IC Markets vs. Competitors

IC Markets vs. Pepperstone

While Pepperstone has the edge in regulatory coverage and educational resources, IC Markets offers lower spreads, more instruments, and slightly better platform options for algorithmic traders.

IC Markets vs. XM

XM offers stronger regulatory coverage and a much lower minimum deposit, making it more accessible to beginners. However, IC Markets provides significantly lower spreads, more instruments, and additional platforms like cTrader and TradingView.

IC Markets vs. Exness

Exness stands out with its ultra-high leverage options and minimal deposit requirements, but IC Markets offers a more consistent ECN execution model and better platform selection for serious traders.

Pros and Cons

Pros

• Ultra-low spreads: Starting from 0.0 pips on Raw Spread accounts
• Fast execution: Average speeds of under 40ms with minimal slippage
• Platform selection: Four major platforms including MT4, MT5, cTrader, and TradingView
• Extensive instrument range: Over 3,500 tradable instruments
• Advanced tools: 20+ proprietary trading tools for MetaTrader
• No dealing desk intervention: True ECN model with direct market access
• Global regulatory framework: Overseen by major financial authorities
• Free deposits and withdrawals: No fees for most payment methods
• Social trading options: IC Social, cTrader Copy, and ZuluTrade integration

Cons

• $200 minimum deposit: Higher than some competitors
• Limited regulatory coverage: Not regulated in US, UK, and Canada
• No proprietary trading platform: Relies on third-party platforms
• Educational content: Not as comprehensive as top competitors
• No US stock trading: Limited to CFDs for international clients
• Research capabilities: Still developing compared to industry leaders

Is IC Markets the Right Broker for You?

Ideal for:

• Scalpers and day traders: The ultra-low spreads and fast execution make IC Markets perfect for short-term trading strategies
• Algorithmic traders: Robust platform support, low latency, and VPS options create an ideal environment for automated systems
• Professional traders: Advanced tools, competitive pricing, and institutional-grade liquidity appeal to experienced traders
• ECN purists: True ECN connectivity with no dealing desk intervention ensures transparent execution

Less suitable for:

• Complete beginners: While usable for novices, other brokers offer more comprehensive educational resources
• Micro-budget traders: The $200 minimum deposit may be prohibitive for some
• US, UK, and Canadian residents: Due to regulatory restrictions
• Stock-focused traders: Those primarily interested in share trading have better options

If you’re an active trader who values tight spreads, fast execution, and advanced platform options, IC Markets offers an excellent trading environment. The broker’s focus on institutional-grade liquidity and technology makes it particularly well-suited to serious traders who prioritize execution quality and cost efficiency.

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Frequently Asked Questions (FAQs)

Conclusion

IC Markets has built its reputation as a top-tier forex and CFD broker by focusing on what matters most to active traders: tight spreads, fast execution, and reliable technology. In 2025, the broker continues to maintain its position as one of the industry leaders, particularly for those who prioritize trading costs and execution quality.

With an extensive range of platforms including MT4, MT5, cTrader, and TradingView, IC Markets caters to various trading styles and preferences. The broker’s true ECN model ensures transparent pricing and direct market access, while advanced tools and VPS options create an ideal environment for algorithmic traders.

Although IC Markets could improve in areas like educational content and proprietary technology, its core offering remains extremely competitive. The recent addition of IC Social for copy trading and IC Insights for market research shows the broker’s commitment to expanding its services beyond pure execution.

For intermediate to advanced traders, especially those focused on forex and CFD trading, IC Markets represents an excellent choice. Beginners with sufficient starting capital can also benefit from IC Markets’ offering, though they may need to supplement the broker’s educational resources with external learning materials.

Ultimately, if you’re looking for institutional-grade trading conditions at retail prices, IC Markets deserves a spot on your shortlist of potential brokers in 2025.

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