IC Markets Reviews


IC Markets Reviews, One of the great advantages of the digital world is the possibility of knowing the Reviews of other users about any product or service. The world of trading is no stranger to this fact and online brokers are not free to suffer all kinds of comments and opinions, for better or for worse.

As we have previously done with other brokers, in this article we will analyze the opinions, comments, and positive and negative experiences that we have collected about the IC Markets broker. In order to carry out this analysis, we have linked our own opinion, based on the experience we have working with this broker, to the opinions of the most relevant real clients that we have found in forums, blogs, and web pages where users comment on their impressions and the advantages and disadvantages of operating with this company. This will allow us to better understand the quality of service and reliability of IC Markets.

What is IC Markets?

IC Markets is an online Forex and CFD broker. In other words, a company that acts as a financial intermediary so that any user can carry out a trading activity in the foreign exchange market or other financial instruments through CFDs (contracts for differences).

It is an Australian broker, which means that its regulation is outside the European Union (we will expose everything related to this matter later). One positive aspect is that IC Markets has more than a decade of experience in brokerage services.

The characteristic of IC Markets is that it focuses its services on very short-term traders (scalpers and day traders). This in itself implies that this broker allows trading strategies such as scalping, hedging, automatic trading systems,…. To achieve its commercial objectives, it offers adapted trading platforms and adequate connectivity (low latency) to achieve maximum speed in the execution of its clients’ trading orders.

The high speed of execution and the ability to offer low spreads are one of its main strengths. The rest is completed by its service and its reliability.

The evaluation made by users, in general terms, is positive (76% excellent), as we can see in the general table taken from the Trustpilot portal.

Its way of working is purely reduced to intermediation, it is an ECN (Electronic Communication Network) broker, which means that it does not act as a counterpart to the trader, it simply puts buyers and sellers in contact, offering the best price according to liquidity providers and existing market conditions.

In no case is IC Markets the one on the other side of our purchase or sale, with which, no conflict of interest of any kind can be generated, something that can happen in the case of brokers market maker (market makers ).

Let’s continue analyzing the opinions of IC Markets now grouped by categories:

IC Markets Reviews trading platforms:

The platforms that this online broker makes available to the user can be summarized in three:

  • MetaTrader 4.
  • MetaTrader 5.
  • cTrader.

Now, all of them have the downloadable version, the web version and the corresponding application for mobile devices (both for those with the Android operating system and those who use iOS).

MetaTrader 4

Thanks to its simplicity, versatility, depth for analysis and the possibility of algorithmic trading using Expert Advisors, this trading platform has been recognized as the most popular on the market .

IC Markets incorporates an enhancement based on 20 advanced trading tools for users who trade MetaTrader 4.

When operating with IC Markets, we will have the option of using the downloadable version or the WebTrader version (the one that does not require a download on the computer, is operated entirely online).

As for the version for mobile devices , it will be necessary to obtain and download it for free on Google Play or the Apple App Store.

This trading platform is available in the Standard account and the Raw Spread account .

MetaTrader 5

It is the most advanced version of MetaTrader 4 (MT4). However, despite also having a very good assessment by the trading community, it does not succeed in unseating MetaTrader 4 as the undisputed leader in the world of online trading.

MetaTrader 5 has a series of improvements and additional tools, however, the programming of the Expert Advisors is different from that used in MT4; Furthermore, they are not compatible. This is one of the main reasons why it has not achieved the success garnered by its predecessor and many people continue to use MT4 EAs.

Both MT4 and MT5 allow efficient trading, allowing to monitor, control, and manage all positions. MetaTrader 5 is still a powerful trading tool.

Like the other platforms offered by IC Markets, we can operate with MT5 through its downloadable version, the WebTrader version and the app designed for Smartphones and Tablets .

MetaTrader 5 is available for Standard and Raw Spread accounts.


cTrader is a platform that stands out for its power. Like MetaTrader (both MT4 and MT5), it is possible to customize it , it is simple to use and has a large number of functions that make it a complete and effective trading tool.

This platform allows direct access to the market, which makes it a great ally to work with ECN-type brokers (as is the case with IC Markets). Its speed, combined with functionality, does not leave traders who use it indifferent either.

The fully online trading version of cTrader, also available with IC Markets, has the ability to execute ultra-fast trading orders.


IC Markets service Reviews:

Available instruments:

One of the characteristics that make an online broker notable is the ability to offer financial markets in which to operate. In this way, any trader can constantly find opportunities.

In this regard, IC Markets does not disappoint, although it is true that there are other brokers with a larger number of financial instruments available. The instruments available to trade with IC Markets are the following:

  • Forex (more than 60 currency pairs are available).
  • Raw materials (energy, precious metals, and agricultural products).
  • Indices (main world stock indices, including the Ibex 35).
  • Bonds (CFDs on different Public Debt securities issued by various States).
  • Cryptocurrencies (Main cryptocurrencies, according to their popularity and market capitalization).
  • Shares (a wide range of securities belonging to the most popular companies in the world).
  • Futures (Invest through CFDs in the futures market on different financial instruments).


Trading accounts “IC Markets”

The different trading accounts offered by IC Markets define the contractual conditions regarding commissions (in the form of spread or fixed commission). We could consider each account as a product offered by this online broker . According to their characteristics and preferences, the trader has the ability to choose the most suitable one .

The accounts that IC Markets makes available are the following:

  • Raw Spread Account
  • Raw cTrader account
  • Standard Account
  • Islamic Account
  • Demo account


Raw Spread Account:

This type of account is characterized by offering the lowest spreads available . On the contrary, a fixed commission of $ 3.50 has to be paid for each lot traded (it would be a total of $ 7 per operation, $ 3.50 to open a position and another 3.50 to close it).

This account allows the operation with the MetaTrader platform (either 4 or 5), in any of the versions previously seen (WebTrader or mobile app).

Raw cTrader account:

The cTrader Raw account is practically the same as the previous one , only, in this case, the trading platform is cTrader . In addition, the fixed commission varies slightly and stands at $ 3.0 per traded lot (it would be about $ 6 if we take into account the opening and closing fees for the position).

IC Markets is characterized by the speed it offers when executing trading orders , however, when working with the cTrader platform, you get a greater agility bonus .

Standard Account:

This account suppresses the fixed commission and starts to charge a slightly higher variable spread. However, the spreads that this online broker is able to offer are really low as it is a pure brokerage service (ECN).

Specifically, spreads can be from 1 pip, depending on the liquidity of the market in which it operates.

This account is available to be used through the MetaTrader 4 and 5 platform (in any version).

Islamic Account:

Islamic accounts differ from the rest by not having a swap commission (also called a night premium).

Islamic laws (Sharia Law) prohibit the collection of interest, for this reason, and since a swap commission is neither more nor less than the application of the daily interest rate for the money that the broker has lent as leverage ( it may even be in favor when operating in the foreign exchange market), it is replaced by other conditions.

In this case, the commissions applied for operating in the market are raised, in consideration for suppressing the night premium. Financial instruments to operate are also reduced in the Islamic account.

IC Markets Demo Account

Many financial intermediaries offer their clients the possibility to test their trading platforms and trading conditions in a trading simulator. In other words: by opening a trading account with a fictitious capital. These are the so-called demo accounts and IC Markets allows you to open one of them.

The IC Markets demo account is simple, free, and quick to open; for unlimited time and offers the operator a virtual capital of between 200 and 5,000,000 dollars (at the trader’s choice) to test the platforms, the conditions of the broker, and trading strategies.

The demo account represents is a great tool to test a broker and see if it fits the ones we are looking for without putting our money at risk .

Access requirements

Opening a trading account with IC Markets is quick and easy , perhaps the most complex part of the process is the sending of supporting documentation by the user (for legal reasons). This is common and mandatory when opening an account with any duly regulated broker.

The access requirements and steps to follow to operate with IC Markets can be summarized as follows:

  • The entire process is online, so the first step is to access the website of this broker .
  • Once there, our intention will be expressed by clicking on the button to open account (“Start trading”).
  • We will have to fill out the perceptive forms and verify our email.
  • It will also be necessary to provide information about our experience in the markets (to qualify as a retail client or professional client).
  • The broker requests that the corresponding documentation be sent to prove our identity and the ownership of the means of payment to make cash operations.
  • IC Markets requests a minimum initial deposit of $ 200 to open a real account (the ones we have seen previously). This may be the only access requirement.

IC Markets Customer Support

One of the most valued points of an online broker is the support it offers clients to answer their questions and/or demands. Regarding IC Markets, the trading community is blunt in its views regarding this matter,

The opinions on this valuation factor are well-founded, IC Markets has customer service 24 hours a day, 7 days a week. It offers a live chat for agile communication.

In addition to this, it makes several emails available (depending on the topic to be discussed, the address of the headquarters, telephone number (for calls from the country where the operator is located, office hours, even the registration numbers in the regulatory bodies.

We have contacted them several times by email and they have a ticket system (a ticket is automatically created when an email is sent to them) in which the response has always been quick and professional.

In other words: multichannel support and permanently connected. Good customer service.

Reviews on IC Markets reliability

In addition to evaluating the services provided, the other pillar to get an idea of ​​the work that an online broker does is the security that inspires its clients. Determining factor, since we are dealing with financial services, in which funds belonging to people’s assets are moved. Let’s see how IC Markets behaves in this regard.

Company data

As discussed earlier in this review article on IC Markets, the company is of Australian origin . Your details are as follows:

International Capital Markets Pty Ltd

Level 6 309 Kent Street

Sidney NSW

2000 Australia

This fact is important because, as we will see shortly, the broker is regulated according to the regulations and the supervisory body of the country in which it is based . In this case, Australia.


In addition to the Australian headquarters, IC Markets has another headquarters in Seychelles . Your details are these:

IC Markets (SC)

HIS Buildings, Providence

Mahe, Seychelles

It has also recently opened a headquarters in Cyprus to serve European customers in compliance with European regulations:

IC Markets (EU) Ltd

141 Omonoias Avenue, The Maritime Center, Block B, 1st Floor, 3045

Limassol, Cyprus

IC Markets Regulations

When contracting with IC Markets through its headquarters, which is located in Australia , the regulation to which it is subject is that of the ASIC (Australian Securities and Investments Commission). Its registration number is 335692.

e other hand, if you contract expressly with the IC Markets (SC) company , based in Seychelles, the regulations and the regulatory body vary . Being in this case the Seychelles International Business Authority.

Opinions have been raised on this matter , because the Australian regulation is more rigorous and reliable .

As a general rule, a contract with the Sydney-based company. However, as we can see in this forum discussion on x-trader.net, IC Markets intended to transfer the accounts of its European clients to the Seychelles-based company, due to a regulatory matter.

The problem comes from the loss of the guarantees offered by the ASIC (having their funds domiciled in a tax haven). However, also as can be seen in the following comment, belonging to the same forum debate, IC Markets gave the option of not migrating its funds and keeping them in the Australian company . With which, the problem was solved.

But these regulatory issues are constantly evolving and lately the ASIC is lately restricting access to Australian brokers for European clients.. The reason is that many clients from countries in Europe were opening accounts in brokers based in Australia because the ASIC regulation is rigorous in transparency, security and investor protection (compared to other international regulations in countries such as Seychelles, Belize, …) and in turn does not have the leverage, margin, … limitations that European regulators have imposed in recent years. The ASIC has started to take measures to stop this practice and some Australian brokers have chosen to limit the trading conditions to European clients and others such as IC Markets are referring these clients to operate through their company based in the European Union (IC Markets (EU) Ltd) and regulated by CySEC.

Fund security

For the reasons discussed in the previous paragraph, the treatment of the funds will be different if the client of IC Markets contracts with the company in Australia (International Capital Markets Pty Ltd), with IC Markets (SC) in Seychelles or with IC Markets (EU ) Ltd based in Europe .

From more to less theoretical security would be Europe, Australia and Seychelles respectively. In Europe, the MiFID directive requires the segregation of client funds and there is an investor guarantee fund.

What guarantees do we have when contracting with a regulated broker in Australia (by ASIC)? It must be kept in mind that, outside of Europe, we will not have the limitation of the leverage that it imposes on ESMA (the European authority of markets and financial instruments). However, the security conditions for the funds provided by the MiFID Directive are also not enjoyed.

In any case, the Australian regulatory body is rigorous and tries to maintain security, transparency and anti-money laundering requirements similar to that of European regulators such as the FCA, CySEC, …

Therefore, we can not consider IC Markets as a fraud or a scam , it is a financial intermediation services company legally established and supervised by the relevant regulatory body .

Client funds are not directly held by the broker , in fact IC Markets can only use these funds to fulfill trading orders. Traders’ accounts are fully segregated from the intermediary’s assets by legal imperative. Specifically, the money is in the main Australian banks (National Australia Bank (NAB) and Westpac Banking Corporation (Westpac), both banks are AA rated).

Furthermore, despite the fact that the protection of the funds does not have the European levels (such as, for example, the protection against the negative balance), the assessment of users regarding the reliability of IC Markets have made it one of the 3 most reliable brokers outside this jurisdiction.

Keep in mind that beyond the regulation is the professionalism and quality of the broker’s service.

IC Markets Deposit and withdrawal policy

With regard to the movements of funds between the personal accounts of the operator and the trading account with IC Markets, speed, reliability and cost are largely determined by the chosen means of payment. IC Markets does not charge a commission for cash deposits or withdrawals (although there may be intermediary charges for example in international bank transfers, …).

In this regard, the intermediary must offer various alternatives , each with its own characteristics, terms and commissions. The trader must choose the most suitable according to his interests. The broker must also show agility in approving the withdrawal request.

IC Markets provides the following means to make deposits and withdrawals to the trading account:

  • Wire transfer.
  • Credit or debit cards.
  • Paypal.
  • Neteller.
  • Neteller VIP.
  • Skrill.
  • Union Pay (only for RMB currency).
  • Bpay (only for AUD currency).
  • FasaPay (only for USD currency).
  • Transfers between brokers.
  • POLI (only for AUD currency).
  • Thai Internet Banking (only for USD currency).
  • Rapidpay (only for EUR and GBP currencies).
  • Klarna (only for EUR and GBP currencies).
  • Bitcoin Wallet (only for Bitcoin).
  • Vietnamese Internet Banking (only for USD currency).

A fairly common aspect today, in the interest of fund security, is that all electronic payments are processed using Secure Socket Layer (SSL) technology. Requests are made through a secure client area.

Regarding the withdrawal of funds , the request is processed the same day of receipt (as long as it is before the established cut-off time). The rest depends on the payment method chosen (bank transfer is usually the slowest).

We have not found any relevant negative opinions about the deposit or withdrawal of funds with IC Markets, which in itself we can interpret as positive .


The comments that revolve around IC Markets , in general terms, show that users have a positive opinion about the services offered by this broker.

The main positive aspects of contracting with IC Markets could be summarized:

  • It offers low spreads.
  • It is regulated by ASIC and by CySEC.
  • It offers a high speed in the execution of orders (ideal for scalping).
  • It has first-class platforms.
  • It has good customer service (in English).
  • It has a good deposit and withdrawal policy (a lot of means, security and efficient execution).

You can find more information on the broker’s website:

This article compiles the IC Markets Reviews. If you have experience working with this online broker, you can send us your own opinions using the comment form below. Also, as always, you can freely share this article on social networks so that it can be useful to other traders who may be interested. Thank you.

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