IC Markets Overall rating
| Rating | Weight | |
| User Rating |
4.8 (712 reviews)
 |
3 |
| Popularity |
5.0
|
3 |
| Regulation |
5.0
|
2 |
| Pricing rating |
5.0
|
1 |
| Features |
5.0
|
1 |
| Customer Support |
5.0
|
1 |
Pros
- Highly rated by users.
- Ranked 1 in our forex brokers database by both users and experts.
- Offers low average spreads across multiple asset classes.
- Well-established broker founded in 2007.
- Regulated by multiple reputable authorities including AU ASIC and CY CYSEC.
- Offers high leverage options, up to 500:1 under SC FSA regulation.
Cons
- Does not provide its financials publicly.
- Not licensed as a bank.
- May have higher spreads on less popular instruments.
- Does not offer investor compensation scheme under AU ASIC and SC FSA regulations.
We tested IC Markets using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. Read our About Us page to read our editorial guidelines and how we make money.
Trustworthiness & Regulation
IC Markets, founded in 2007, is a well-established broker with a strong reputation. It boasts an impressive average rating of 4.8 out of 5, based on the reviews from verified users with real trading accounts. According to user feedback and expert analysis, IC Markets holds the top position in our forex broker rankings.
IC Markets has a strong online presence with 3,059,000 organic monthly visits, making it highly popular among traders. It is privately owned, not licensed as a bank, and does not provide its financials publicly, which is a consideration for transparency.
IC Markets is regulated by several reputable authorities:
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
| International Capital Markets Pty Ltd |
|
 |
|
|
30 : 1 | |
| IC Markets (EU) Ltd |
|
up to €20,000
|
|
|
30 : 1 | |
| Raw Trading Ltd |
|
|
|
|
500 : 1 |
It’s important to note that even highly regulated and successful financial firms can fail. Investors should remain vigilant and consider the security of their funds at all times.
Deposit Insurance
IC Markets offers deposit insurance under the CY CYSEC regulation, providing compensation up to €20,000 in case the broker fails. This ensures that client funds are protected to a certain extent, giving traders added peace of mind.
However, there is no investor compensation scheme under AU ASIC and SC FSA regulations, which means clients trading under these entities do not have the same level of protection. It's crucial to understand the regulatory framework under which your account is registered to know the extent of protection available.
Spreads and Costs
IC Markets offers competitive spreads and costs across various asset classes. When compared to other industry-leading brokers, IC Markets generally provides low average spreads, particularly in forex and indices.
Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers
| Broker - Account Type | Crypto Average | Forex Average | Indices Average | Commodities Average |
|---|---|---|---|---|
| IC Markets - Raw Spread | 9.97 | 1.22 | 1.02 | 0.07 |
| IC Markets - Standard | 10.09 | 1.49 | 1.05 | 0.09 |
| Axi - PRO | 13.67 | 1.22 | 1.55 | 0.07 |
| Tickmill - ECN PRO | 9.25 | 1.44 | 1.74 | 0.11 |
| Pepperstone - Standard | 9.85 | 1.65 | 2.14 | 0.08 |
| Tickmill - Classic | 8.33 | 2.07 | 1.65 | 0.15 |
| Axi - Standard | 14.78 | 2.23 | 1.54 | 0.13 |
| FxPro/FxPro UK | - | 2.37 | 3.30 | - |
| XM Group - Standard | 39.34 | 2.49 | 3.80 | - |
Note: Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD). Data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads include both spread and commission calculated in.
Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.
Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost.
Please note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments. Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.
Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers
| Broker - Account Type | BTCUSD | ETHUSD | EURUSD | USDJPY | GBPJPY | EURGBP | AUDNZD | CADCHF | US30 | AUS200 | XAUUSD | XAGUSD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| IC Markets - Raw Spread | 16.95 | 3.00 | 0.70 | 1.16 | 1.56 | 0.82 | 1.71 | 1.38 | 0.92 | 1.12 | 0.12 | 0.02 |
| IC Markets - Standard | 17.19 | 3.00 | 0.88 | 1.14 | 2.12 | 1.35 | 1.84 | 1.60 | 0.92 | 1.18 | 0.16 | 0.02 |
| Axi - PRO | 25.03 | 2.30 | 0.54 | 1.31 | 1.84 | 0.72 | 1.44 | 1.46 | 2.00 | 1.10 | 0.13 | 0.02 |
| Tickmill - ECN PRO | 17.19 | 1.31 | 0.55 | 1.32 | 2.63 | 0.64 | 1.85 | 1.68 | 2.26 | 1.22 | 0.21 | 0.01 |
| Pepperstone - Standard | 16.71 | 3.00 | 1.05 | 1.30 | 2.31 | 1.31 | 2.20 | 1.73 | 2.73 | 1.56 | 0.15 | 0.02 |
| Tickmill - Classic | 15.43 | 1.24 | 1.63 | 1.92 | 2.38 | 1.69 | 2.51 | 2.32 | 2.09 | 1.20 | 0.28 | 0.02 |
| Axi - Standard | 27.22 | 2.33 | 1.41 | 2.16 | 3.15 | 1.56 | 2.56 | 2.52 | 1.98 | 1.09 | 0.22 | 0.03 |
| FxPro/FxPro UK | - | - | 1.27 | 1.49 | 3.22 | 1.46 | 3.59 | 3.22 | 2.51 | 4.10 | - | - |
| XM Group - Standard | 73.74 | 4.94 | 1.29 | 2.06 | 4.02 | 2.37 | 2.91 | 2.31 | 4.18 | 3.42 | - | - |
Swap Rates/Financing Fees
Swap rates, also known as financing fees, are charged by brokers for holding positions overnight. These fees can either be positive or negative. Positive swap rates pay out to the trader, while negative swap rates incur a cost. In comparison to the average of industry-leading brokers, IC Markets offers competitive swap rates, especially considering the 'Average' column values.
| Broker | Best | Average | USDJPY Swap Short | USDJPY Swap Long | NZDUSD Swap Short | NZDUSD Swap Long | XAUUSD Swap Short | XAUUSD Swap Long |
|---|---|---|---|---|---|---|---|---|
| IC Markets | Best | -2.27 | -2.59 | 1.25 | -0.10 | -0.14 | 20.78 | -32.84 |
| FXTM | -- | -8.13 | -30.31 | 3.21 | -1.29 | -1.60 | 20.52 | -39.30 |
| Axi | -- | -3.19 | -2.65 | 1.40 | -0.04 | -0.13 | 15.30 | -33.00 |
| Pepperstone | -- | -3.03 | -2.61 | 1.22 | -0.14 | -0.13 | 23.75 | -40.25 |
| XM | -- | -5.04 | -3.66 | 1.09 | -0.16 | -0.20 | 19.67 | -46.99 |
| FxPro | -- | -4.60 | -2.99 | 0.94 | -0.14 | -0.15 | 18.50 | -43.75 |
Does IC Markets Offer Islamic/Swap-free Accounts?
Islamic accounts, also known as swap-free accounts, are designed for traders who cannot receive or pay interest due to religious beliefs. These accounts do not incur swap or rollover charges for holding positions overnight, adhering to Islamic finance principles.
IC Markets offers Islamic accounts for clients who follow the Islamic faith. To open an Islamic account, traders need to apply for it and provide documentation that proves their faith. Once approved, the account will not be subject to swap rates, and traders can hold positions without incurring overnight fees. For more details and to apply for an Islamic account, visit the IC Markets website.
Other Fees
In addition to spreads and swap rates, IC Markets charges other fees that traders should be aware of. These include:
| Fee Type | Details |
|---|---|
| Withdrawal Fee | No withdrawal fees for most methods, but bank wire transfers may incur a fee depending on the bank. |
| Inactivity Fee | No inactivity fees. |
| Deposit Fee | No deposit fees for most methods, but bank wire transfers may incur a fee depending on the bank. |
Comparison to other Brokers
IC Markets stands out among industry-leading brokers due to its high user ratings, competitive spreads, and robust regulatory framework. When compared to other brokers such as Axi, XM Group, FxPro, Pepperstone, and Tickmill, IC Markets offers lower average spreads, particularly in forex and indices. Additionally, its user ratings and popularity are top-notch, with a high number of organic monthly visits.
In terms of regulatory licensing, IC Markets is regulated by multiple reputable authorities, providing a higher level of trust and security for its clients. However, it does not offer investor compensation schemes under all regulations, which is a factor to consider. Despite this, its overall trustworthiness and popularity make it a strong competitor in the forex industry.
While some brokers may offer slightly lower swap rates or additional financial transparency, IC Markets' competitive spreads, high user ratings, and extensive regulatory oversight make it a preferred choice for many traders. Its well-established presence in the market since 2007 further adds to its credibility and reliability.
Trading Platforms - Mobile, Desktop, Automated
| Platform | Type | Automated Trading |
|---|---|---|
| MetaTrader 4 | Desktop, Mobile, Web | Yes, supports MQL4 programming language |
| MetaTrader 5 | Desktop, Mobile, Web | Yes, supports MQL5 programming language |
| cTrader | Desktop, Mobile, Web | Yes, supports C# programming language |
| TradingView | Desktop, Mobile, Web | Yes, supports Pine Script programming language |
IC Markets offers a variety of trading platforms, each with unique features and capabilities. MetaTrader 4 and MetaTrader 5 are popular for their comprehensive charting tools, automated trading capabilities, and support for a wide range of indicators and expert advisors. cTrader is known for its user-friendly interface and advanced order capabilities, while TradingView is highly regarded for its powerful charting tools and social trading features.
All these platforms support automated trading, allowing traders to implement and execute trading strategies using programming languages such as MQL4, MQL5, C#, and Pine Script. The ease of use varies, with MQL4 and MQL5 being relatively easy to learn for those familiar with C-style programming, while C# and Pine Script offer more flexibility for advanced users.
What Can you Trade?
| Asset Class | Number of Instruments |
|---|---|
| Forex CFD | 61 |
| Crypto CFD | 13 |
| Stock CFD | 2100 |
| Stock Index CFD | 25 |
| Commodities CFD | 28 |
| Bond CFD | 9 |
| Futures CFD | 4 |
IC Markets offers a wide range of instruments across various asset classes. Traders can choose from 61 forex CFDs, 13 crypto CFDs, 2100 stock CFDs, 25 stock index CFDs, 28 commodities CFDs, 9 bond CFDs, and 4 futures CFDs. This extensive selection allows for diversified trading opportunities.
It is important to note that IC Markets primarily offers trading in CFDs (Contracts for Difference). CFDs allow traders to speculate on the price movements of various assets without owning the underlying asset. This can provide leverage and flexibility but also comes with higher risks, including the possibility of losses exceeding the initial investment. For more details on the instruments available and the specific symbols offered, visit the IC Markets website.
Available Leverage
IC Markets offers varying leverage levels depending on the regulatory entity under which the account is opened. Under the AU ASIC regulation, the maximum leverage is 30:1 for retail clients. Under the CY CYSEC regulation, the leverage is also capped at 30:1 for retail clients.
However, under the SC FSA regulation, IC Markets offers leverage up to 500:1, providing more flexibility for traders seeking higher leverage. It's crucial to understand the risks associated with high leverage, as it can amplify both gains and losses.
Prohibited Countries
IC Markets does not accept clients from certain countries due to regulatory restrictions. These prohibited countries include the United States, Canada, Israel, Iran, Iraq, and Zimbabwe. This list may change, and it is advisable to check the IC Markets website or contact their support team for the most up-to-date information on country restrictions.
IC Markets Account types
| Standard | Raw Spread | cTrader | |
| Commission | - | 7.00 USD\7.00 AUD\5.00 GBP\5.50 EUR\9.00 SGD\54.25 HKD | $3.00 Per Side Per 100K USD Traded |
| Maximum leverage | 1000:1 | ||
| Mobile Platform | MT4 Mobile, MT5 Mobile | cTrader Mobile, TradingView Mobile | |
| Trading platform | MT4, MT5, WebTrader | cTrader, WebTrader, TradingView | |
| Spread Type | Variable Spread | ||
| Minimum Deposit | 200 | ||
| Minimum Trade Size | 0.01 | ||
| Trailing Stops | | ||
| Scalping Allowed | | ||
| Hedging Allowed | | ||
| Islamic Accounts | | ||
| Standard | |
| Maximum leverage | 1000:1 |
| Typical Spread | 1.0-1.1 |
| Trading platform | MT4MT5WebTrader |
| Mobile platform | MT4 MobileMT5 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 200 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| Raw Spread | |
| Commission | 7.00 USD\7.00 AUD\5.00 GBP\5.50 EUR\9.00 SGD\54.25 HKD |
| Maximum leverage | 1000:1 |
| Typical Spread | 0.0-0.1 |
| Trading platform | MT4MT5WebTrader |
| Mobile platform | MT4 MobileMT5 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 200 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| cTrader | |
| Commission | $3.00 Per Side Per 100K USD Traded |
| Maximum leverage | 1000:1 |
| Typical Spread | 0.1 |
| Trading platform | cTraderWebTraderTradingView |
| Mobile platform | cTrader MobileTradingView Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 200 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
IC Markets Web traffic
Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.
| Websites |
icmarkets.com
|
| Organic monthly visits | 2,242,363 (99%) |
| Organic traffic rank | 15 out of 827 (Forex Brokers) |
| Paid monthly visits | 33,697 (1%) |
| Total monthly visits | 2,276,060 |
| Bounce rate | 39% |
| Pages per visit | 4.20 |
| Average visit duration | 00:03:28.8780000 |
IC Markets Profile
| Company Name | International Capital Markets Pty Ltd |
| Categories | Forex Brokers, Cryptocurrency Brokers, Forex Rebates, Cryptocurrency Rebates |
| Primary Category | Forex Brokers |
| Year Founded | 2007 |
| Headquarters | Australia |
| Office Locations | Australia, China |
| Account Currency | AUD, CAD, CHF, EUR, GBP, JPY, NZD, SGD, USD, HKD |
| Client funds bank | National Australian Bank (NAB), Westpac Banking Corporation |
| Support Languages | Arabic, Bulgarian, Chinese, English, French, German, Indonesian, Italian, Korean, Malay, Portuguese, Russian, Spanish, Thai, Vietnamese, Czech, Croatian |
| Funding Methods | Bank Wire, BPAY, Broker to Broker, China Union Pay, Credit Card, FasaPay, Neteller, PayPal, POLi, Skrill, Klarna, RapidPay |
| Financial Instruments | Futures, Forex, Shares, Indices, Bonds, Oil/Energies, Cryptocurrencies, Metals, Soft Commodities (coffee, sugar...) |
| Prohibited Countries | Afghanistan, Angola, American Samoa, Australia, Central African Republic, Congo, Ivory Coast, Cook Islands, Cuba, Gambia, Guinea, Guam, Guinea Bissau, Israel, Iraq, Iran, Kyrgyzstan, Cambodia, North Korea, Lebanon, Libya, Mali, Myanmar, Northern Mariana Islands, Martinique, New Caledonia, Niue, New Zealand, Saint Pierre and Miquelon, Puerto Rico, Reunion, Russia, Sudan, Sierra Leone, Senegal, Somalia, Syria, Tokelau, United States, Virgin Islands, U.s., Wallis and Futuna, Yemen, Mayotte, Zimbabwe, Saint Pierre and Miquelon, Republic Of The Congo, Saint Barthelemy, Sint Maarten, South Sudan |
24 hour support
Segregated Accounts
Islamic Accounts
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo
Trading API
Cent accounts
Negative balance protection
Social trading
Regulatory deposit insurance
Trailing stops
Bonuses
Interest on margin
Fixed spread
Variable spread
IC Markets User reviews
)
Newer user ratings have greater impact than older ratings and user ratings have no impact after 5+ years old. The more reviews a company receives, the higher the maximum possible aggregate user rating. After 100 reviews a company can receive the highest rating, which is an average of their user ratings.
We display the reviews we reject as spam or vote fraud. Not all rejected reviews are displayed, for example reviews advertising a website or service.
IC Markets Cashback rebates
| Standard | Raw Spread | cTrader | |
| Forex | Monthly Cash Back 0.272 Pips - FX Majors0.409 Pips - FX Others --OR-- Spread Reduction 0.20 Pips - FX Majors 0.30 Pips - FX Others + Monthly Cash Back 0.072 Pips - FX Majors 0.109 Pips - FX Others | Monthly Cash Back 37.50% Of Commissions Paid--OR-- Direct Commission Reduction 21.50% Of Commissions Paid + Monthly Cash Back 16.00% Of Commissions Paid | Monthly Cash Back $1.0227 Per 100K USD Traded--OR-- Direct Commission Reduction $0.60 Per 100K USD Traded + Monthly Cash Back $0.4227 Per 100K USD Traded |
| Metals | Monthly Cash Back 0.340 Pips--OR-- Spread Reduction 0.30 Pips + Monthly Cash Back 0.040 Pips | Monthly Cash Back 37.50% Of Commissions Paid--OR-- Direct Commission Reduction 21.50% Of Commissions Paid + Monthly Cash Back 16.00% Of Commissions Paid | Monthly Cash Back $1.0227 Per 100K USD Traded--OR-- Direct Commission Reduction $0.60 Per 100K USD Traded + Monthly Cash Back $0.4227 Per 100K USD Traded |
| Indices | Up to $1.704 Per Lot | $1.00 Per 100K USD Traded | |
| Cryptocurrencies | Up to $0.64 Per Lot | $1.00 Per 100K USD Traded | |
| Payment Options |
Spread Reduction
Monthly Cash Back - Real Time Reports
|
Commission reduction
Monthly Cash Back - Real Time Reports
| |
| Standard | |
| Forex |
Monthly Cash Back 0.272 Pips - FX Majors0.409 Pips - FX Others --OR-- Spread Reduction 0.20 Pips - FX Majors 0.30 Pips - FX Others + Monthly Cash Back 0.072 Pips - FX Majors 0.109 Pips - FX Others |
| Metals |
Monthly Cash Back 0.340 Pips--OR-- Spread Reduction 0.30 Pips + Monthly Cash Back 0.040 Pips |
| Indices | Up to $1.704 Per Lot |
| Cryptocurrencies | Up to $0.64 Per Lot |
| Payment Options |
Spread Reduction
Monthly Cash Back - Real Time Reports
|
| Raw Spread | |
| Forex |
Monthly Cash Back 37.50% Of Commissions Paid--OR-- Direct Commission Reduction 21.50% Of Commissions Paid + Monthly Cash Back 16.00% Of Commissions Paid |
| Metals |
Monthly Cash Back 37.50% Of Commissions Paid--OR-- Direct Commission Reduction 21.50% Of Commissions Paid + Monthly Cash Back 16.00% Of Commissions Paid |
| Indices | Up to $1.704 Per Lot |
| Cryptocurrencies | Up to $0.64 Per Lot |
| Payment Options |
Commission reduction
Monthly Cash Back - Real Time Reports
|
| cTrader | |
| Forex |
Monthly Cash Back $1.0227 Per 100K USD Traded--OR-- Direct Commission Reduction $0.60 Per 100K USD Traded + Monthly Cash Back $0.4227 Per 100K USD Traded |
| Metals |
Monthly Cash Back $1.0227 Per 100K USD Traded--OR-- Direct Commission Reduction $0.60 Per 100K USD Traded + Monthly Cash Back $0.4227 Per 100K USD Traded |
| Indices | $1.00 Per 100K USD Traded |
| Cryptocurrencies | $1.00 Per 100K USD Traded |
| Payment Options |
Commission reduction
Monthly Cash Back - Real Time Reports
|
Notes
Rebates are not paid for:
- accounts registered with CySEC, Bahamas SCB and ASIC entities
- Australian residents
What are IC Markets rebates?
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
How do IC Markets rebates work?
When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.
How much IC Markets rebates can I earn?
IC Markets Regulation / Money Protection
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
| International Capital Markets Pty Ltd |
|
|
|
|
30 : 1 | |
| IC Markets (EU) Ltd |
|
up to €20,000
|
|
|
30 : 1 | |
| Raw Trading Ltd |
|
|
|
|
500 : 1 |
IC Markets Promotions
IC Markets Symbols
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