Open Your IC Markets Account Today

ic markets review Broker IC Markets Review  
  • Regulated: ASIC
  • Platforms: MT4, MT5, cTrader
  • Min Deposit: $200

IC Markets Review 2019 and Technical Opinions

by | Feb 6, 2019

If you are searching for a new forex broker, be it as a new trader, or someone with experience in the industry, the choice can be time consuming and difficult. Luckily, we have taken a lot of the laborious hard work and research out of the equation. In this instance, we have focused our attention on IC Markets.

Through the course of this IC Markets review, you will learn more about the company, how they came into the industry, and the wide range of forex trading services they offer to users. This will include further analysis of the IC Markets true ECN concept and how the broker can ideally fit your trading style. This in-depth IC Markets review is all aimed at arming you with the best possible knowledge to make an informed decision on your future trading broker.

PART 1 – IC Markets Legal Review – Company and Legal Information

A vital consideration for many traders to address from the very beginning is based on the issue of trust. Many without experience may worry about an IC Markets scam or similar lack of transparency with any broker. This is simply not the case, and many of the reports which traders may hear pertaining to brokers being scams are simply misinformation or clouded by poor experience.

Is IC Markets a scam? Is IC Markets reliable? IC Markets review and legal opinions

IC Markets broker is certainly not a scam of any sort. The company has over a decade of experience at the top of the industry and is regulated by one of the most trusted financial bodies in the industry, the Australian Securities and Investment Commission (ASIC).

When I make a deposit to IC Markets, where does my money go?

When making an IC Markets deposit, it is important to note that the funds are directed into segregated accounts. These are accounts to which company personnel have no direct access, and these accounts are accordingly entrusted to the security of top-tier banking institutions. In this case, because IC Markets is founded was regulated in Australia, those banking institutions are the top national banks of Westpac and National Australia Bank (NAB).

Is IC Markets regulated? IC Markets Regulations – IC Markets license opinions

Yes. IC Markets regulation is applied in full by ASIC. They are a well-respected regulatory body within the forex sector, and, given that IC Markets is an Australia based broker, regulation by ASIC is both expected and welcomed. This should add a certain degree of confidence for traders who choose to open an account. 

How to check the IC Markets licenses

IC Markets licenses can be checked directly through the ASIC Connect website. Here you will find information on the broker’s ASIC registration as well as their Australian Business Number and further company details.

What type of broker is IC Markets? IC Markets technical opinions

IC Markets heavily promote the fact that they are one of the world’s only and truest ECN brokers. This is the case, and they do offer several account types starting from zero pips and direct access to the best intermarket trading rates. They also offer a standard account which does build in commission to their offered spread, however, IC Markets stays true to their genuine ECN model and is a completely No Dealing Desk Broker.

These are all largely positive for points for traders. This effectively means they can always gain access to the very best markets rates at the lowest cost. Furthermore, with no dealing desk, they can be certain that IC Markets will never trade against them. This style of forex broker where objectives between traders and brokers are more closely aligned, almost always result in more positive all-round experiences.

How does IC Markets profit?

The predominant source of profits for IC Markets comes from commission on trades. Since they offer mostly true ECN trading accounts, traders can benefit from the best possible spreads, but with that, IC Markets does charge a small commission on trades.

Where is the legal office of IC Markets?

IC Markets are an Australian broker, with their HQ based in Sydney at the following location:

Level 6
309 Kent Street
Sydney, NSW 2000

IC Markets
  • Regulated: ASIC
  • Platforms: MT4, MT5, cTrader
  • Min. Deposit: $200
(74-89 % of retail CFD accounts lose money)
  • Regulations: International Capital Markets Pty Ltd. licensed by ASIC (AFSL no. 335692)
  • Type: Market Maker, ECN, STP
  • Leverage: 1:500
  • Min Deposit: $ 200
  • Platforms: MT4, MT5, MT WebTrader, MT iPhone/iPad, MT Android, MT Mac, cTrader, cTrader Web, cTrader Android, cTrader iPhone/iPad, cTrader cAlgo
  • Headquarters: International Capital Markets Pty Ltd. is headquartered in Sydney, Australia
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, stocks, futures, bonds, cryptocurrency

PART 2 – IC Markets Account Opening

What can you do with IC Markets? IC Markets features opinions

IC Markets accounts are easy to open and feature a diverse range of trading markets from which traders can choose. These include more than 60 forex currency pairs, major, minor, and exotic, trading within commodities, indices, bonds, stocks, and futures, combined with the availability of CFDs trading on 10 major cryptocurrencies. These markets are available with the best possible spreads and lowest IC Markets ECN Commission.

IC Markets demo: how to open a free virtual account

Opening an IC Markets demo account could not be easier. Simply click on the related link, fill in the most basic of personal information, choose your account and platform type from the options of MT4, MT5, or cTrader and a standard or true ECN account, and you are ready to begin trading in your virtual balance.

IC Markets Live: how to open a Live IC Markets account

Opening an IC Markets live account follows the same clear pattern as the demo account opening, the only difference being that you should proceed through online verification of your ID and address proof documents in order to fully operate the account on a live trading basis. This process too can be completed virtually through a secure upload feature.

IC Markets Deposits and Withdrawals – All the options

IC Markets deposits can be facilitated in a variety of ways. These include the following deposit options:

  • Visa/MasterCard
  • Paypal
  • Bank Wire Transfer
  • Neteller
  • Qiwi
  • Skrill
  • Union Pay
  • B-Pay

These are the most popular deposit options, with the full tange including, FasaPay, POLI, RapidPay, Klarna, and Bitcoin.

IC Markets minimum deposit

The minimum deposit required in order to open an IC Markets live account, is $200. To deposit, your live account will also need to be activated and verified.

IC Markets Bonus and Offers

There are currently no bonuses on offer from IC Markets beyond the usual leverage which is offered by the broker. This is due in part to regulatory requirements which restrict the ability of many major brokers to offer bonuses to traders.

IC Markets
  • Regulated: ASIC
  • Platforms: MT4, MT5, cTrader
  • Min. Deposit: $200
(74-89 % of retail CFD accounts lose money)

PART 3- IC Markets Review – Accounts, Conditions, and Fees

IC Markets Account Types

The broker offers three distinct account types, these are cTrader account, which offers ECN services through the use of cTrader, IC Markets True ECN, which utilizes the same ECN trading capabilities with low spreads and the use of MT4, and a standard account option which offers variable spreads, and utilizes MT4 as a trading platform.

Commissions, Fees, Spread and Market Trading Hours on IC Markets

In the cases of the cTrader and MT4 True ECN account types, spreads from 0.0 pips are offered to traders. This is thanks to the direct access provided to competitive intermarket rates. These accounts do feature trade based commissions however.

In the case of cTrader accounts, the commission is $3.50 per lot of 100,000 currency units, on a per turn basis. This commission is slightly lower, at $3.00 per lot, per turn, through the MT4 True ECN account.

Standard account types through MT4 operate on a commission free basis, though everything Is incorporated into the slightly higher spread on markets through this account. These spreads start at a minimum of 1.0 pips, and an average of approximately 1.1.

IC Markets Islamic Account

Yes, IC Markets Islamic account is offered to traders. This allows for swap-fee trading for users in order to correspond with their legal and belief systems.

IC Markets Leverage – What it the highest leverage IC Markets offers?

IC Markets leverage is offered at up to 500:1 on major currency pairs through all of their accounts. This is the maximum leverage which the broker facilitates.

IC Markets Cryptocurrencies

IC Markets offers trading in 10 cryptocurrency markets. IC Markets cryptocurrencies are traded as CFDs on a 24/5 basis, and are commission free with a variable but highly competitive spread. Markets include Bitcoin, Ethereum, Litecoin, Dash, Bitcoin Cash, Ripple, EOS, Emercoin, NameCoin, and PeerCoin CFDs. This is comparative more selection than many other major brokers.

IC Markets CFD

CFDs trading is widely available through IC Markets. This includes hundreds of products and pairings, not limited to only forex, through commodities, indices, bonds, futures, cryptocurrency, and over 100 stocks. 

IC Markets Privacy Policy

The broker has a detailed privacy policy which is fully adherent to the rules of its financial regulator ASIC, and does the most comprehensive job possible in protecting the privacy of traders. More detailed information on the IC Markets privacy policy can be found here.

IC Markets
  • Regulated: ASIC
  • Platforms: MT4, MT5, cTrader
  • Min. Deposit: $200
(74-89 % of retail CFD accounts lose money)

PART 4 – IC Markets Trading Platforms Review

IC Markets trading platforms are well known and established throughout the sector. This is because the broker utilizes other major third party trading platforms. These are offered in the form of MT4, and MT5 from MetaQuotes, as well as cTrader from Spotware. These are dominant platforms well known to traders throughout the industry and encompass the IC Markets offering through desktop, and mobile trading platforms. IC Markets also partners with Myfxbook and Zulutrade for those who wish to access social and copy-trading through major reputable providers.

IC Markets Trading Platform Review

MT4 is well-known and respected throughout the forex industry for its comprehensive offering to traders. One of the key points which traders admire about the platform is its minimalist appearance which make it easy to engage with, and the vast range of technical indicators and professional charting tools which have been made available.

As mentioned, both the desktop and web-based versions of MT4 are highly intuitive and often perform in the same uniform manner across all brokers who offer the platform. There may be slight differences in screen layout, but these will always include a central console with a window to display multiple charts, a narrow window to the bottom of the screen which allows easy, tabulated navigation through open positions, economic calendar, messages, and alerts, and a handy chart watch window to the left side which allows for all of the current market movements to be monitored with ease. This can also be changed based upon your preferences.

One of the most utilized features by more experienced traders in terms of Metatader is the EAs function. This, similar to cAlgo and cBots from cTrader, allow users to design and implement their own trading strategies. IC Markets add more depth to this feature by also incorporating EA Labs which allows the trader more flexibility in customizing their automated trading strategies before easily implementing them in the platform.

Moving to cTrader, this too poses a great choice for new and experienced traders to IC Markets. Here you can benefit from a vast number of the same professional tools, though in what some users would define as a more visually attractive setting. This may be more suited to newer traders who want a more modern appearing set-up with clearing visualizations and assistance. This platform, having been around the sector for years also, provides excellent solutions in automated trading through cBots and cAlgo for those who wish to program their own trading strategies to a more advanced level.

Finally, IC Markets have also forged partnerships with both Zulutrade and Myfxbook to allow traders greater flexibility to work between these platforms and their IC Markets accounts.

Mobile Platforms

When it comes to mobile trading functionality, IC Markets mobile trading platform offerings are extensive and corresponding with their desktop counterparts. This means offerings from both Metatrader, and cTrader. Both perform smoothly and in a highly intuitive fashion, as would be expected of any top-trading platform in the industry for over a decade, as these have been.

They both offer the user a visually appealing and transparent experience, with many professional charting indicators and tools still available to a high degree of functionality. The ordering function is also very concise and ensures little time is wasted in the placing of orders on the move. They also offer more detailed ordering strategies such as the placing of stop losses and other options. Both are very clearly laid out and suitable to both new and experienced traders alike.

All of the IC Markets mobile trading platforms are readily available for download on both Android and iOS devices.

Overall, the trading platforms employed by IC Broker are excellent for those who may have developed a history trading with these major third-party platforms, or those new to the industry who wish to experience the most popular and commonly used trading platforms in the industry. The only slight difference in the IC Markets Metatrader variant is that a high level news source does not appear to be provided for.

IC Markets tutorial: Where to find the best IC Markets Guides

IC markets educational material is fantastic in its scope and quality of content, this ranges from professionally written blog content hosted by the broker, to their video lessons and live news partnership with Trading Central. If you feel there is something more you wish to learn however, feel free to peruse our own extensive catalogue of educational material which is ever-increasing and helping you strive to become a more successful trader.

IC Markets
  • Regulated: ASIC
  • Platforms: MT4, MT5, cTrader
  • Min. Deposit: $200
(74-89 % of retail CFD accounts lose money)

PART 5 – Support, Research and Educational Material

IC Markets Customer Support

IC Markets customer support network is extensive. They offer several primary methods of contact. The fastest among these is the website live chat service which appear to always be answered promptly and with helpful information pursuant to the questions asked.

Phone support is operational in several countries, namely, Australia, Thailand, and the U.K which all provide toll-free numbers to call. Chinese phone support is also available. Office hours typically run from 10am – 10pm GMT, Sunday through Friday. In the case of the Chinese office, this is 9am – 11pm Beijing time, Monday through Friday.

Finally, email support is available and performed well under testing, with responses arriving quickly within under 2 hours of submission. 


In terms of research, IC Markets offers it economic calendar in conjunction with MQL5, and has recently started to offer EA Lab to traders. This facilitates traders in creating their own automated strategies to carry out through MetaTrader and the Expert Advisor function.

Besides that, the company runs its own market analysis blog which is regularly updated with useful information, and as previously mentioned, in partnership with Trading Central, offers a live video service streaming the latest headline news from the industry.

Educational Material

IC Markets forex educational offering is comprehensive. The IC Markets website provide for a range of resources in this area. This includes access to trader written blogs, video lessons on trading, a step-by-step 10 lesson guidance program, and web-based TV which allows traders to constantly remain in the know about the industry, without having to leave the site.

IC Markets Trading Academy

The ICMarket broker and their educational offering, whilst not being a rigid trading academy in the style offered by some brokers, could be considered such, due to the structure of their content. This is particularly their 10-lesson, beginners guide to trading. Either way, the broker offers good quality, insightful trading education which can be of value to both new and existing traders. 

IC Markets
  • Regulated: ASIC
  • Platforms: MT4, MT5, cTrader
  • Min. Deposit: $200
(74-89 % of retail CFD accounts lose money)

PART 6 – Final Thoughts and Opinions on IC Markets

Now that we have conducted an exhaustive review of IC Markets and everything they have to offer, we will offer our own opinion based on what we have found. Given our past experiences in the industry with many types of similar full-broker reviews, hopefully this opinion is one you can find useful or informative in some way to helping you make a future decision on your trading broker.

IC Markets review, IC Markets opinions and final comments

With over a decade in the industry, it is fair to say that IC Markets represents a top-broker in every category. This is exemplified not only through its solid offering throughout every category, and its top-level regulation from ASIC, but also through the respect it has garnered within the industry and its customer base.

IC Markets broker represents many of the aspects which are positive and good about brokers within the industry. They are well-regulated, provide a top quality service, and charge a very competitive commission whilst offering flexible trading and the best spreads. They also facilitate new traders through their education program, and above all, a positive environment which promotes continued learning. This is something which can be beneficial to all traders who choose to do business with IC Markets.

Why You Should Choose IC Markets

There are several reasons why you may choose to open an account with IC Markets broker. As a new trader, you may be enticed by the free-flowing and easy to navigate website which makes for a great user experience. More likely though, you will be encouraged to stay through the extensive potential to learn which the broker provides.

As an experienced trader, you should value the highly-respected regulation and compliance of the broker. This, in tandem with the true ECN nature they promote, backed up by some of the best spreads and most competitive commissions in the market, provide several excellent reasons to choose IC Markets.

IC Markets Reviews – PROS

  • IC Markets spreads are some of the most competitive in the industry with the IC Markets True ECN account.
  • Well-regulated by a highly respected financial body, and operating for more than a decade with an excellent record of transparency.
  • More extensive offerings in terms of cryptocurrency CFDs than competitors of a similar stature.
  • Strong educational offerings which are ideal in assisting new traders to learn about forex trading and the industry.

IC Markets Reviews – CONS

  • IC markets mt4 and cTrader platforms are great, but some users may like the choice of a proprietary trading platform.
  • Some traders may feel quite confined due to the brokers focus on Australia and a $200 deposit is quite sizable in comparison to some rival brokers.
IC Markets
  • Regulated: ASIC
  • Platforms: MT4, MT5, cTrader
  • Min. Deposit: $200
(74-89 % of retail CFD accounts lose money)