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ic markets review
ic markets review Broker IC Markets Review  
  • Regulated: ASIC
  • Platforms: MT4, MT5, cTrader
  • Min Deposit: $200
Vote: 5 stars

IC Markets Review 2020 and Technical Opinions

by | Oct 23, 2019

Did you search IC Markets review to figure out IC Markets’s real value?

Would you like to fully understand if IC Markets is reliable or if it’s a scam?

Do you want to find out everything you can do with IC Markets, expert opinions, and user opinions?


In this IC Markets review, you’ll find everything you need to dispel any doubt, including our feedback on IC Markets, both practical and technical, after years of experience on the platform.

The best thing you could is to open a free demo account to try out first-hand the IC Markets platforms, to be able to fully follow this report.



IC Markets Review: Legal forex broker? Company 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 forex 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.

ic markets review

Is IC Markets a scam or reliable? 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 and 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 Check


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 verify 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.


IC Markets Technical Review: What type of broker is IC Markets?

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 is an Australian broker, with their HQ based in Sydney at the following location:

Level 6
309 Kent Street
Sydney, NSW 2000

IC Markets 5 stars
IC Markets logo
  • Regulated: ASIC
  • Platforms: MT4, MT5, cTrader
  • Min. Deposit: $200
IC Markets logo
  • Regulated: FCA, CySEC, DFSA, FSCA, SCB
  • Platforms: MT4, MT5, cTrader, Edge
  • 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

IC Markets Accounts Review

IC Markets accounts are easy to open and feature a diverse range of options.

IC Markets Account Opening: Deposits and Withdrawals

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

In order to open an IC Markets live account the minimum deposit required is $0, although a 200 USD deposit is recommended. 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.

Minimum Deposit$200
Minimum Withdraw$1
Credit Cardyes
Bank Transferyes
Other Methods Availableneteller VIP - UnionPay - Bpay - FasaPay - Broker to Broker - POLi - THAI Internet Banking - RapidPay - Klarna - Bitcoin Wallet - Vietnamese Internet Banking

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 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
  • Standard Account, which offers variable spreads, and utilizes MT4 as a trading platform.

ic markets account type

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.

What type of trader are you?

74-89% of retail CFD accounts lose money

IC Markets Trading Review: Markets, Costs and Features

On IC Markets there’s a 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 Cryptocurrencies

IC Markets offers trading in 10 cryptocurrency markets to invest in.

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 comparatively 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
  • over 100 stocks.

IC Markets Leverage, Spreads and Fees

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.

EUR/USD Average Spread (Variable)0.1
USD/JPY Average Spread (Variable)0.2
GBP/USD Average Spread (Variable)0.4
USD/CHF Average Spread (Variable)0.5
EUR/USD Spread (Fixed)no
USD/JPY Spread (Fixed)no
GBP/USD Spread (Fixed)no
USD/CHF Spread (Fixed)no


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 spread commissions

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 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.

Try the IC Markets Platform!

74-89 % of retail CFD accounts lose money

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 MT4

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.

ic markets mt4

IC Markets cTrader

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.

ic markets ctrader

IC Markets 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.

Try the IC Markets Platform!

74-89 % of retail CFD accounts lose money

IC Markets Support, Research and Educational Material

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 UK 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 its 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 users, customers and bad reviews

Before moving on to our final opinion on IC Markets, for completeness we want to give you the opportunity to read some comments and experiences written directly by other users. However, important prerequisites must be made:

WARNING: in the world of online trading, very often users who do not know how to operate professionally, and therefore lose money, vent their frustrations by giving bad reviews on the broker, opinions that have nothing to do with the quality of the broker in question.
WARNING 2: There have been many cases where non-professional rival brokers paid fake users to write false negative reviews on other brokers.

That said, it can still be useful to take a look at the direct feedback of other users, if for no other reason to understand what to pay more attention to when you start working with that broker.

You can read users and customers reviews on IC Markets on TrustPilot and ForexPeaceArmy.

IC Markets 5 stars
IC Markets logo
  • Regulated: ASIC
  • Platforms: MT4, MT5, cTrader
  • Min. Deposit: $200
IC Markets logo
  • Regulated: FCA, CySEC, DFSA, FSCA, SCB
  • Platforms: MT4, MT5, cTrader, Edge
  • Min. Deposit: $200
(74-89% of retail CFD accounts lose money)

Final Thoughts and Opinions on IC Markets

Now that we have conducted an exhaustive audit 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 2020 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 Pros and Cons


  • 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 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 5 stars
IC Markets logo
  • Regulated: ASIC
  • Platforms: MT4, MT5, cTrader
  • Min. Deposit: $200
IC Markets logo
  • Regulated: FCA, CySEC, DFSA, FSCA, SCB
  • Platforms: MT4, MT5, cTrader, Edge
  • Min. Deposit: $200
(74-89% of retail CFD accounts lose money)