IC Markets Review (Is It Worth It?)

IC Markets is one of the largest forex brokers in the world by trading volume. Founded in 2007 in Sydney, Australia, it has grown into a global operation serving traders in over 200 countries. It is known for tight spreads, fast execution, and the widest platform selection among retail brokers.

Regulation

• ASIC (Australian Securities and Investments Commission) — tier-1, strong protection for Australian clients.
• CySEC (Cyprus Securities and Exchange Commission) — EU regulation under MiFID II. Gives access to European traders with negative balance protection and leverage caps.
• SCB (Securities Commission of the Bahamas) — offshore entity for clients outside Australia and EU.
• IC Markets operates three separate entities depending on your region. Check which entity you are signing up with and verify the regulation.
• Note for EU traders: you will be onboarded under the CySEC entity with 30:1 leverage and ESMA protections. Read our Europe broker guide for more details.

Trading costs

• Raw spread account: spreads from 0.0 pips + $3.50 commission per side ($7.00 round turn per lot).
• Standard account: no commission, spreads from ~1.0 pips on EUR/USD.
• Swap fees: standard industry rates. Islamic (swap-free) accounts available on request.
• No deposit or withdrawal fees from IC Markets' side (your bank may charge).
• No inactivity fees.
• Total cost on EUR/USD (raw account): typically 0.6-0.8 pips all-in including commission.

IC Markets platforms

• MetaTrader 4: the classic. Stable, huge community, thousands of EAs and indicators.
• MetaTrader 5: the upgrade. More timeframes, better backtesting, economic calendar.
• cTrader: modern interface, fastest execution, Level II pricing. IC Markets is one of the best brokers for cTrader access.
• No TradingView integration. If TradingView matters to you, look at Fusion Markets or Blueberry Markets.

Minimum deposit

• $200 for all account types. Higher than Fusion ($0) and Blueberry ($100), but still reasonable.

Pros

• Three platforms including cTrader — more choice than most brokers.
• CySEC regulation for EU traders — proper MiFID II protection.
• Very fast execution — popular with scalpers and high-frequency traders.
• Deep liquidity from multiple providers.
• No dealing desk — ECN/STP execution.
• Large, established broker — operating since 2007 with high daily trading volume.

Cons

• $200 minimum deposit — higher than Fusion ($0) or Blueberry ($100).
• $3.50 per side commission — more expensive than Fusion's $2.25.
• No TradingView integration — if you want TradingView, consider Fusion Markets.
• IC Markets Global vs IC Markets EU — different entities with different conditions. Make sure you know which one you are signing up with.
• Support can be slow during peak times due to the large client base.

Who IC Markets is for

• Traders who want cTrader — IC Markets is the top choice for this platform.
• EU-based traders who need CySEC/MiFID II regulation with proper consumer protection.
• Scalpers who need the fastest possible execution.
• Traders who value platform variety and may want to try different platforms without switching brokers.

Who should look elsewhere

• Traders who want the absolute lowest cost — Fusion Markets is cheaper per trade.
• Traders who want TradingView integration — Fusion offers this, IC Markets does not.
• Beginners who want to start with very small deposits — the $200 minimum is a barrier for some.

Open an account with IC Markets (partner link)