IC Markets Review 2025

Why Trade with IC Markets?

Execution speed and cost efficiency are at the top of most traders’ wish list and this is exactly where IC Markets seeks to dominate their competition. Their Raw Spread Account offers spreads from 0.0 pips and commissions as low as $3.00 per lot, undercutting rivals like Pepperstone and FP Markets by 20-30%, which is no minor feat. During volatile market hours, our Dynamic Spread Tracker recorded EUR/USD spreads averaging 0.1 pips—60% tighter than the industry average. Combine this with 24/7 support, 500:1 leverage (for international clients not limited by ASIC regulation), and execution speeds well under 100ms, and you’ve got a broker built for scalpers, algo traders, and anyone despising slippage.

Regulation: Is IC Markets Legit?

(CLEAR™ Score: 4.7)

The safety and regulation of IC Markets is rock solid. They are regulated by not one but two Tier 1 authorities–The Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), both renowned for stringent oversight. ASIC enforces negative balance protection for Australian clients, while CySEC offers EU traders €20,000 investor compensation. However, traders that are not Australian or from the EU, must rely on FSA regulation (Seychelles) which is considered a tier 3 regulatory body and lacks robust safeguards. Should global traders be concerned? No, our findings revealed that IC Markets has an 18 year squeaky clean track record and runs all its operations ethically per institutional-grade regulation either way.

IC Markets CLEAR™ Safety Score: Overall 4.7

We drill down the Safety score for IC Markets using the CLEAR™ methodology after a thorough investigation:

Our overall safety tests firmly established that IC Markets is a legitimate broker and financial institution, scoring near the top in all safety benchmarks.

Regulatory Snapshot

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Commissions, Spreads and Fees: Low Cost Broker

(CLEAR™ Score: 4.5)

IC Markets prides itself on institutional-grade pricing, so we started our testing by checking how their spreads hold up under pressure? Using our proprietary Dynamic Spread Tracking tool, we monitored IC Markets’ costs 24/7 over 30 days—including high-impact news events like NFP and ECB rate decisions. When most brokers widened spreads during volatility, IC Markets’ raw accounts proved to be relatively resilient and with minor changes. However our testing also revealed that their standard accounts performed less well.

Raw Account Spreads: Competitive, But Not Always the Cheapest

Our real-time tracking confirmed IC Markets’ Raw Spread accounts offer 0.0–0.1 pips on EUR/USD, beating Pepperstone (0.0–0.2 pips) but falling short of industry leading Fusion Markets’ 0.01 pips. However, during volatile sessions, IC Markets’ spreads spiked to 0.3 pips, while Fusion held steady at 0.05 pips.

ECN Forex Spread Comparison (Tracked in Real-Time)

Raw Account Commissions: Mid-Tier Pricing

IC Markets charges $3.50 per lot on MT4/MT5 and $3.00 per lot on cTrader. While this is cheaper than Pepperstone’s $3.70, Fusion Markets undercuts both by a country mile at $2.25 per lot. To put that into perspective for you, we executed 100 lots monthly during testing and IC Markets cost us $75 more than Fusion Markets.That’s not life-changing, but you’re still paying more and for high-volume traders the costs will add up quickly.

Standard Account Fees: Better Than Average

Our dynamic spread testing revealed that IC Markets’ Standard Account spreads start at 1.0 pips for EUR/USD—below the 1.2 pips industry average but behind Fusion’s 0.89 pips. It’s not the best in the business, but at this account level it’s still a solid offering. How much of an impact does this have in reality? Not much, as high volume traders will pick the more cost efficient Raw Account in any case. 

EUR/USD Spread Comparison (Standard Accounts)

No Hidden Fees

IC Markets earns full marks for transparency: no deposit/withdrawal fees, inactivity charges, or sneaky account maintenance costs. This is pretty much standard for a broker of this caliber and is fundamental in establishing trust with traders.

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Funding: Fast and Free

(CLEAR™ Score: 4.6)

The funding process of IC Markets is streamlined as you’d expect with our 15 deposit methods across 10 base currencies, all processed instantly and free of charge. During our testing period, deposits arrived in seconds, and withdrawals were completed in under 24 hours for e-wallets. That’s lightning fast processing and inline with industry leaders. However, some traders may feel the inconvenience of strict AML policies and occasional third-party fees although we didn’t encounter any unusual issues during testing with multiple live accounts.

Deposit Methods: Fast, Free, and Global

IC Markets supports credit/debit cards, e-wallets, cryptocurrencies, and regional options like POLI (Australia) and Thai Internet Banking. Most deposits were instant and arrived within seconds in our trading account during testing ,though bank wires took around 2–5 days to reflect on average.

Deposit Methods and Processing Times

Withdrawal Methods: Mostly Instant

Withdrawals mirror deposits, with e-wallets processed instantly and bank transfers taking 3–5 days. Nothing can frustrate a trader more than not having quick and easy access to their funds. We can verify that all our withdrawal requests were processed seamlessly during the testing phase.

Withdrawal Methods and Processing Times

*Note: Third-party bank fees may apply for international transfers and may take up to 14 days depending on your location and bank.

Heads up: IC Markets enforces same-account withdrawal policy as per standard AML laws—withdrawals must return to your original funding source (think PayPal to PayPal, no exceptions). Also if you need to cash out without placing a single trade, then you must be prepared to accept the potential processing fee. While IC Markets doesn’t charge for withdrawals, your bank might slap on third-party fees such as $15–$30 for USD/EUR transfers. Depositing in a currency that doesn’t match your account? Expect a sneaky 0.5–1.5% conversion fee nibbling at your funds. Keep these quirks in mind to avoid unwelcome surprises.

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Trading Platforms: Power Meets Precision

(CLEAR™ Score: 4.8)

When assessing the IC Markets platform lineup we were greeted with the heavyweights of the industry such as the fan-favorite MetaTrader 4 and MetaTrader 5, the institutional-grade cTrader, and the reliable ActTrader web platform. We were able to code EAs, scalp with Level II pricing, and trade on the go with this powerful toolkit. All platform testing ran smoothly as you’d expect from a prime brokerage but minus the prime fees. But here’s the kicker, TradingView integration via cTrader brings the world’s most popular charting suite—used by 50M+ traders—directly into IC Markets’ ecosystem. We geeked out over this because we use TradingView’s 400+ indicators judiciously. All-in-all IC Markets makes pro tools accessible to the average retail trader..

IC Markets CLEAR™ Trading Platforms Score: Overall 4.8

We break down our platform score using the CLEAR™ methodology after rigorous testing:

IC Social: Great Upgrade But Far Behind eToro

IC Markets significantly upped its game when it introduced the IC Social app, powered by Pelican Trading. This all-in-one platform combines copy trading, signal sharing, and real-time chat into a very sleek mobile experience that’s available on Android and iOS. During testing, we connected our MetaTrader 4 account, experimented with the different trading groups, and replicated strategies from top performers—all while chatting with fellow traders. We had great social trading experience overall, but it’s still a far cry from eToro’s ecosystem, who remain the social trading kings with its millions of users and advanced copy features.

Trade Execution: Ultra-fast

Using our proprietary Execution Tracker tool, we measured that IC Markets processed market orders in 72ms and limit orders in 75ms on average—among the fastest we’ve tested. During the Fed rate decision, spreads stayed stable, and slippage was minimal, a testament to their deep liquidity pools.

Customer Support: 24/7 with a Human Touch

(CLEAR™ Score: 4.4)

We stress-tested IC Markets’ support team across 20+ interactions via live chat, email, and phone at all hours. Their 24/7 live chat delivered responses in 90 seconds on average—Which is slightly faster than Pepperstone (2 minutes) and FP Markets (3 minutes). While most top brokers now offer round-the-clock support, IC Markets stands out with dedicated account managers for EU clients and a pragmatic approach to solving issues. What’s missing? A bespoke “White Glove” personal expert tier as offered by Fusion Markets, which can be a real confidence booster knowing there is another experienced trader to consult with. Nevertheless, IC’s efficiency still earns top marks.

IC Markets CLEAR™ Support Score: Overall 4.4

We break down their score using our CLEAR™ methodology:

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Tradable Assets: Forex Dominance, Crypto Shortfall

(CLEAR™ Score: 4.3)

The moment we started trading with IC Markets it was easily apparent that their dominance lies mainly in forex and CFDs assets. Their shortfall was also clear—lack of cryptocurrency diversity (missing many altcoins) and no direct asset access (no real stock ownership). 

Snapshot of IC Markets’ Product Range

Forex Trading: Unmatched Breadth and Depth

We tested IC Markets’ forex offering and were quite impressed by its 61 currency pairs, including exotics like USD/TRY and USD/ZAR. We verified that Raw spreads indeed started at 0.0 pips and our Execution Tracker measured the average speeds to be under 40ms for the Raw Acount—this is perfect for scalpers and high-frequency traders.Their rapid execution is possible due to their servers located in the Equinix NY4 data center in New York. However, it’s important to note that during our testing phase the execution speeds varied based on factors such as market conditions, the trading platform used and the specific account type. For instance, the cTrader Raw Spread Account averaged under 1 millisecond, which is next level performance.Our research confirmed that this is facilitated by servers in the Equinix LD5 data center in London, delivering super-low latency to major VPS providers.

Non-EU clients can utilize leverage of up to 1:500, though EU and Australian traders are unfortunately capped at 1:30 due to regulatory restrictions. During the ECB rate announcement, spreads remained stable, and slippage was minimal, a testament to their deep liquidity pools.

Indices and Commodities: Competitive but Lacks Niche

IC Markets offers 25 global equity indices for trading, including the S&P 500 and Nikkei 225, with spreads from 0.4 points and zero commissions. We were also pleased with their commodity offering of more than 20 instruments, from crude oil and gold to agricultural products like wheat. While this will satisfy most traders and meet mainstream demand, niche offerings like lumber and carbon credits are missing compared to tier 1 brokers like IG. During testing, gold spreads averaged 0.25 pips, and oil spreads stayed under 0.03 pips during peak hours—those are more than decent stats.

Cryptocurrencies: 50% Less Than Leading Competition

IC Markets lists 21 crypto CFDs, including Bitcoin, Ethereum, and Litecoin, traded 24/7 with leverage up to 1:2 on MT4/MT5 or 1:5 on cTrader. However, this falls far short of platforms like eToro, which offers more than 50 coins, thus limiting altcoin trading which is exponentially growing in popularity. We stress-tested trading during Bitcoin volatility and also during sideways action, in all cases execution was seamless. However, the lack of smaller-cap coins left us wanting more, and we were left to ponder why a broker that’s competing with industry leaders does not offer this. Execution or liquidity issues? Technical implementation concerns? We will keep pressing IC Markets for an answer.

Stocks, ETFs, and Bonds: CFDs Only

IC Markets provides 2,100+ stock CFDs from exchanges like NYSE and NASDAQ, but these are just CFDs—you don’t really own the stock. What’s the implication? You’ll trade with no dividends, no shareholder rights, and exposure to overnight fees, whereas owning stocks gives you full ownership, voting rights, and long-term value appreciation. Bond CFDs include nine government bonds such as the U.S. Treasuries and German Bunds for those speculating on interest rates. However, real bonds and ETFs are notably absent. This is a big gap compared to brokers like Saxo Bank.

Automation and Tools: Institutional-Grade Infrastructure

We tested IC Markets’ automation tools and found them to be robust and cutting edge. MetaTrader EAs, cTrader’s cAlgo, and ZuluTrade for copy trading are fully supported with free VPS hosting to optimize execution. Their liquidity, processing $29B+ daily in FX trades ensured minimal slippage even during volatile markets. During the Fed announcement, our algo trades executed flawlessly, with no requotes or delays. The only room for significant improvement, would be their social copy if they want to compete with eToro—widely regarded as the kings of social trading.

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Account Opening: Fast-track Onboarding

(CLEAR™ Score: 4.9)

When it’s time to trade, waiting days for account approval feels like your flight is about to leave without you. IC Markets gets this—and delivers. In our test run, we signed up, submitted compliance docs, and were verified in an impressive 47 minutes. While times may vary, most users are approved within hours—not days. The process is seamless, intuitive, and fully digital, letting you trade the same day. Compared to competitors like Pepperstone (1–2 days) and FP Markets (24+ hours), IC Markets excels in fast-track onboarding.

How to Open an IC Markets Account

Opening an account with IC Markets took us just 15 minutes online. Here’s how:

Done! Your should be approved within a few hours. If you get stuck at any phase you can contact their 24/7 support and they’ll get you back on track in no time.

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IC Markets FAQ