IC Markets Review
IC Markets is a forex and CFD broker founded in 2007 in Australia, running its international operations through the entity Raw Trading Ltd. The broker is known for an ECN/Raw-style trading environment with very low spreads and fast execution, making it popular among active traders, automated trading (EA) users, and scalpers. In this updated 2026 review we cover the current licenses, account types, spreads, leverage, and the Islamic account in an educational and neutral manner. For how it compares with other brokers, see our forex broker comparison guide.
Notice: The content provided is for educational purposes only and is not investment advice. Trading CFDs carries a high level of risk, and you could lose your entire capital due to leverage.
Review Contents
IC Markets Company Overview
IC Markets runs its international operations through the entity Raw Trading Ltd, registered in Seychelles, and focuses on a low-cost trading environment with fast execution and good market depth. The broker targets active and professional traders, and offers an Islamic account and Arabic-language support.
| Item | Details |
|---|---|
| Year founded | 2007 (Australia) |
| International entity | Raw Trading Ltd |
| Current license (international) | Seychelles FSA — Securities Dealer SD018, registration 8419879-1 |
| Minimum deposit | None on the Standard, Raw Spread and cTrader Raw accounts; 5,000 USD on Raw Pro and 100,000 USD on Raw Pro + |
| Account types | Standard, Raw Spread (MetaTrader), Raw Spread (cTrader), Raw Pro and Raw Pro + |
| Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView and WebTrader |
| Islamic account | Available on the Raw Spread and Standard accounts |
Is IC Markets Trustworthy? An Objective Look at Licenses and Security
Many traders look into how trustworthy IC Markets is before opening an account. The objective answer: IC Markets is a licensed broker with an operating record since 2007, working through several regulatory entities across different regions. The table below shows the licenses as published by the company on its official website.
| Regulator | Entity | License |
|---|---|---|
| FSA (Seychelles) | Raw Trading Ltd (international entity) | Securities Dealer — SD018 · registration 8419879-1 |
| CySEC (Cyprus) | IC Markets (EU) Ltd | 362/18 · registration HE 356877 |
An important objective note: most international and Arab clients are registered under the Raw Trading Ltd entity, licensed by the Seychelles FSA, an offshore authority considered less strict than Tier-1 regulators such as Australia’s ASIC or Cyprus’s CySEC, which regulate IC Markets’ entities in Australia and Europe. The company holds client funds in segregated accounts. Being regulated in Seychelles does not mean the broker is “untrustworthy” — the group has a long track record and strictly regulated entities elsewhere — but traders should verify which entity they are registered under and the level of protection before depositing. The company also does not accept clients from the United States, Canada, and New Zealand.
IC Markets Pros and Cons
Below is an objective summary of the main strengths and weaknesses of IC Markets to help you form a balanced picture:
Pros
- Raw/ECN environment with very low spreads and fast execution
- Suitable for active traders, scalpers, and automated (EA) trading
- Three platforms: MT4, MT5, and cTrader
- An additional entity, IC Markets (EU) Ltd, is regulated by CySEC under 362/18, alongside the international entity (Seychelles FSA)
- Islamic account (Swap-Free) and Arabic support
- Good market depth and diverse trading tools
Cons
- The international entity is regulated by the Seychelles FSA (offshore, less strict than Tier-1)
- Spread figures are not published consistently across the official pages
- Raw accounts require a commission (in exchange for the low spread)
- Does not accept clients from the United States, Canada, and New Zealand
- High leverage can be risky for beginners
Account Types at IC Markets
IC Markets offers accounts focused on a low-cost trading environment. The table shows the main differences (details remain approximate and vary by instrument and market conditions):
| Account Type | Spread From | Commission | Suitable For |
|---|---|---|---|
| Standard | Not disclosed — two conflicting official figures | No commission | Beginners and general traders |
| Raw Spread (MT4/MT5) | Not disclosed — two conflicting official figures | 3.50 USD per lot per side (7 USD round turn) | Active traders, scalpers, and automated trading |
| Raw Spread (cTrader) | Not disclosed | 3 USD per 100,000 USD traded | Fans of the cTrader platform and ECN execution |
| Raw Pro | Not disclosed | 1.50 USD per lot per side | Professional traders |
| Raw Pro + | Not disclosed | 1 USD per lot per side | High-volume traders |
The Standard account suits those who prefer simplicity without a commission, while the Raw Spread and cTrader accounts offer a lower overall cost for active traders. It is best to review the updated terms on the official platform before choosing.
Spreads and Fees at IC Markets
IC Markets is known for very low spreads thanks to its Raw/ECN model, where the spread on Raw accounts starts from 0.0 pips in exchange for a commission, while it is slightly higher on the Standard account with no commission. Figures remain approximate and vary by instrument, market conditions, and market liquidity.
| Item | Details |
|---|---|
| Spread | Not disclosed — the official figures conflict between the live pricing table and the account pages |
| Commission | 3.50 USD per lot per side on Raw Spread (MetaTrader), 3 USD per 100,000 USD traded on cTrader, 1.50 USD on Raw Pro, 1 USD on Raw Pro +, and none on Standard |
| Deposit fees | No additional fees from the company, though intermediary banks may charge |
| Withdrawal fees | No fees from the company; international bank transfers may take up to 14 days and carry intermediary or beneficiary bank charges |
| Inactivity fees | None |
Overall, IC Markets is considered a low-cost broker, especially for those trading large volumes or using fast strategies, but the commission must be factored into the total cost on Raw accounts.
Leverage at IC Markets and How to Manage It
Leverage allows opening positions larger than the actual capital. The maximum leverage at IC Markets varies by regulatory entity and instrument type; it is higher under the international entity and more restricted in strictly regulated regions. High leverage multiplies potential profits just as it multiplies losses.
| Element | Details |
|---|---|
| Maximum leverage | Up to 1:5000 on major and minor forex pairs for position sizes from 0 to 25 lots, and 1:3000 from 25 to 50 lots; the cTrader Raw Spread account goes up to 1:1000 |
| By asset class | Metals 1:2000 · Energy 1:500 · Cryptocurrencies 1:500 · Indices 1:200 · Bonds 1:200 |
| Influencing factors | Account type, asset class and position size |
| Risk management | Using stop-loss orders and not risking a large share of capital on a single trade |
⚠️ Notice: High leverage significantly increases the level of risk and may lead to the loss of all capital within a short time. This content is educational and is not investment advice.
The Islamic Account at IC Markets (Swap-Free)
IC Markets offers an Islamic account (Swap-Free) that allows positions to be held open for more than a day without overnight swap interest being charged, suiting traders seeking Sharia-compliant terms. This option is available on specific account types and is usually activated after account verification or upon request to support.
| Item | Details |
|---|---|
| Overnight swap interest | Not charged on eligible trades |
| Availability | Available on the Raw Spread and Standard accounts, on MetaTrader 4, MetaTrader 5 and cTrader, across more than 90 instruments |
| Note | Holding fees apply to positions kept open overnight after a grace period |
It is best to review the updated Islamic account terms on the official platform before relying on it, as eligible instruments and fees may change from time to time.
Trading Platforms Available at IC Markets
IC Markets offers three professional platforms suited to different trading styles:
| Platform | Best For | Feature |
|---|---|---|
| MetaTrader 4 (MT4) | Forex traders and EA (expert advisor) users | Lightweight, fast, and a huge EA library |
| MetaTrader 5 (MT5) | Multi-asset traders | Broader analysis tools and more timeframes |
| cTrader | Fans of ECN, advanced execution, and market depth | Advanced interface, market depth, and fast execution |
This variety makes IC Markets a strong choice for professional traders and automated-strategy users.
Deposit and Withdrawal Methods at IC Markets
IC Markets offers various payment methods that vary by region, with fast processing in most cases. It is always recommended to complete identity verification (KYC) before any deposit to speed up later withdrawals.
| Method | Deposit Speed | Withdrawal Speed | Fees |
|---|---|---|---|
| Published deposit methods | Credit and debit cards, PayPal, Neteller, Skrill, UnionPay, bank transfer, Bpay, broker-to-broker transfer, POLi and Klarna | ||
| Deposit fees | No additional fees from the company, though intermediary banks may charge | ||
| Withdrawal fees and timing | No fees from the company; international bank transfers may take up to 14 days and carry intermediary or beneficiary bank charges |
Methods, fees, and limits vary by country; check the options available in your region on the official platform.
IC Markets vs Exness: An Objective Comparison
To help you compare, we put IC Markets side by side with Exness — one of the most prominent brokers in the Arab region. The goal is to present the key differences objectively, not to favor one broker over another.
| Criterion | IC Markets | Exness |
|---|---|---|
| Pricing model | Raw/ECN with a very low spread plus commission, and a Standard account with no commission | Multiple accounts, with and without commission |
| Minimum deposit | None on Standard, Raw Spread and cTrader Raw; 5,000 USD on Raw Pro and 100,000 USD on Raw Pro + | Not disclosed as a fixed figure for Standard and Standard Cent; from 200 USD on the professional accounts |
| Maximum leverage | Up to 1:5000 on forex for position sizes up to 25 lots | Unlimited under specific conditions; 1:400 for clients of the Kenyan entity |
| Platforms | MT4 / MT5 / cTrader / TradingView / WebTrader | MT4 / MT5 / Exness Terminal / Exness Trade app / MetaTrader WebTerminal |
| Islamic account | Available on Raw Spread and Standard | Available automatically for accounts registered from Islamic countries |
For full details, see the complete Exness review, the XM review, the FXTM review, and the RoboForex review, and our guide to the best forex brokers.
Steps to Open an Account at IC Markets
The account opening process is entirely online: register with your basic details and choose your country of residence, then choose the account type and platform, then verify your identity (KYC), and finally deposit and start. Beginners are advised to try a demo account first before risking real capital.
Ready to try trading with IC Markets?
Start with a demo account to test the Raw environment, or open a live account after reading the terms of service for your region. Remember that trading involves risk.
Frequently Asked Questions
Is IC Markets licensed and safe?
IC Markets is a licensed broker. The entity serving international clients is Raw Trading Ltd, licensed by the Seychelles Financial Services Authority as a Securities Dealer under SD018 (registration 8419879-1), alongside IC Markets (EU) Ltd licensed by CySEC under 362/18. The level of regulatory protection depends on which entity holds your account.
Is IC Markets a scam?
There is no evidence that IC Markets is a “scam”; it is a licensed group with a long operating record and strictly regulated entities (ASIC, CySEC) alongside its international entity. That said, the level of protection varies by entity, so it is recommended to read the terms and verify before depositing.
Why is IC Markets known for low spreads?
The Raw account model passes through the raw spread in exchange for an explicit commission: 3.50 USD per lot per side on MetaTrader and 3 USD per 100,000 USD traded on cTrader. The company does not publish a consistent spread figure, as the live pricing table and the account pages carry conflicting values.
What is the minimum deposit at IC Markets?
There is no minimum deposit to open an account with the international entity: it is zero on the Standard, Raw Spread and cTrader Raw accounts, rising to 5,000 USD on Raw Pro and 100,000 USD on Raw Pro +.
What account types does IC Markets offer, and which is best for beginners?
The officially published account types are Standard, Raw Spread on MetaTrader, Raw Spread on cTrader, Raw Pro and Raw Pro +. There is no minimum deposit on the first three, while Raw Pro requires 5,000 USD and Raw Pro + requires 100,000 USD. Standard is a reasonable starting point for beginners because it carries no commission.
Does IC Markets offer an Islamic account?
Yes. The Islamic account is available on the Raw Spread and Standard accounts, across MetaTrader 4, MetaTrader 5 and cTrader, covering more than 90 instruments. No overnight swap interest is charged on eligible trades, though holding fees apply to positions kept open overnight after a grace period.
What platforms are available at IC Markets?
The officially published platforms are MetaTrader 4, MetaTrader 5, cTrader, TradingView and WebTrader.
What is the leverage at IC Markets?
Leverage reaches 1:5000 on major and minor forex pairs for position sizes from 0 to 25 lots, dropping to 1:3000 from 25 to 50 lots. It varies by asset class: metals 1:2000, energy and cryptocurrencies 1:500, indices and bonds 1:200. The cTrader Raw Spread account goes up to 1:1000.
Is IC Markets suitable for scalping and automated trading?
Yes, IC Markets is a popular choice among scalpers and EA (expert advisor) users thanks to low spreads, fast execution, and few notable restrictions on these strategies. That said, risk management remains the trader’s responsibility.
How do I withdraw my profits from IC Markets?
Withdrawals are made through the member area by selecting a withdrawal method and specifying the amount. Processing time varies by method, and completed account verification (KYC) speeds up the process.
Share Your Experience or Question
Do you have experience with IC Markets, or a question about licenses, spreads, platforms, or withdrawal methods? Share it in the comments below. We read every comment and answer questions to help other traders make an informed decision. Note: comments are for educational discussion purposes only and do not constitute financial advice.
Disclaimer: All information in this review is for educational purposes only and does not constitute investment advice or a recommendation to open an account or invest. Trading CFDs carries a high level of risk due to leverage and may result in the loss of all capital. A significant percentage of retail investor accounts lose money when trading CFDs. It is recommended to consult a licensed financial advisor before making any decision. This content contains affiliate links through which we may earn a commission at no additional cost to you.
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