IC Markets Review 2026
IC Markets is one of the world's leading ECN brokers, built specifically for active traders, scalpers, and algorithmic traders who demand the tightest possible spreads. With raw spreads starting from 0.0 pips on EUR/USD, no minimum deposit, and access to four trading platforms including the newly upgraded cTrader 5.0, IC Markets delivers institutional-grade conditions to retail traders.
- Active day traders and scalpers who need the tightest spreads
- Algorithmic traders using Expert Advisors on MT4/MT5
- cTrader users who want cloud algo trading (cTrader 5.0)
- Traders wanting $0 minimum deposit to start
- Copy traders via the IC Social app
- Islamic traders needing swap-free accounts
- US, Canadian, New Zealand, Iranian, or North Korean residents (not accepted)
- Traders seeking extensive educational resources
1. Company Overview
2. Regulation & Licences
IC Markets Global operates under Raw Trading Ltd, regulated by the Financial Services Authority (FSA) of Seychelles. This is the global entity accessible to most retail traders worldwide. IC Markets also holds licences from ASIC (Australia) and CySEC (Europe) for clients in those regions, though this review focuses on the Global entity.
| Entity | Regulator | Licence No. | Tier | Notes |
|---|---|---|---|---|
| Raw Trading Ltd (IC Markets Global) | FSA Seychelles | SD018 | Tier 2 | Global entity. Leverage up to 1:1000. Registration number 8419879-1. |
| International Capital Markets Pty Ltd | ASIC | 335692 | Tier 1 | Australian clients. Leverage capped at 1:30 retail. Segregated funds. |
| IC Markets (EU) Ltd | CySEC | 362/18 | Tier 1 | European clients. MiFID II. Leverage capped at 1:30 retail. |
| IC Markets (KE) Limited | CMA Kenya | 199 | Tier 2 | Licensed May 2024 as a non-dealing online forex broker. Nairobi, Kenya. |
3. Account Types
IC Markets offers five account tiers. All accounts have no minimum deposit except Raw Pro ($5,000) and Raw Pro+ ($100,000). Raw spread accounts charge a commission but deliver the tightest possible spreads straight from the interbank market.
| Standard | Raw Spread (MT4/MT5) | Raw Spread (cTrader) | Raw Pro | Raw Pro+ | |
|---|---|---|---|---|---|
| Min. Deposit | $0 | $0 | $0 | $5,000 | $100,000 |
| Spread from | 0.08 pip | 0.0 pip | 0.0 pip | 0.0 pip | 0.0 pip |
| Commission | None | $3.50/lot/side | $3 per $100k/side | $1.50/lot/side | $1.00/lot/side |
| Platforms | MT4, MT5 | MT4, MT5 | cTrader | MT4, MT5 | MT4, MT5 |
| Leverage | Up to 1:1000 | Up to 1:1000 | Up to 1:1000 | Up to 1:1000 | Up to 1:1000 |
| Open Account | Open Account | Open Account | Open Account | Open Account |
All Raw Spread accounts give access to true interbank spreads. The Standard account has no commission but wider spreads — better suited to lower-frequency traders. Raw Pro and Raw Pro+ are for high-volume traders and offer the lowest commission tiers.
4. Spreads & Fees
IC Markets is best known for its raw interbank spreads — among the tightest available to retail traders. EUR/USD on Raw Spread accounts averages just 0.01 pips and is often at 0.0 pips during European and North American trading sessions.
For a scalper trading EUR/USD on a Raw Spread MT4 account: total round-turn cost on a 1-lot trade = $7 commission + $1 spread cost = ~$8. This compares favourably to most retail brokers where the spread alone can cost $10–$20 per round turn on a standard account.
5. Trading Platforms
IC Markets offers four platforms, covering every type of trader from manual discretionary to fully automated algorithmic trading.
6. Markets & Instruments
7. Deposits & Withdrawals
IC Markets charges no fees on deposits or withdrawals. A wide range of payment methods is supported including crypto and local banking options. All deposits and withdrawals must be in the account holder's own name — third-party payments are not accepted. Available methods may vary by country and jurisdiction.
* Intermediary bank fees may apply on wire transfers — these are charged by the receiving bank, not IC Markets. Available payment methods vary by jurisdiction.
8. Copy Trading — IC Social
IC Markets offers copy trading through IC Social, powered by Pelican Trading (FCA regulated). Available on iOS and Android, it allows traders to replicate the strategies of signal providers directly from their MT4 or MT5 account.
9. Islamic (Swap-Free) Account
IC Markets offers swap-free accounts for traders who require accounts compliant with Islamic finance principles. Instead of overnight swap charges, a flat holding fee applies per lot for positions held overnight.
10. Education & Research
IC Markets provides a basic educational suite. While not as comprehensive as some brokers, it covers the essentials for getting started.
11. Awards & Recognition
| Year | Award | Awarding Body |
|---|---|---|
| 2025 | Best Lowest Spread Forex Broker | FXEmpire |
12. Pros & Cons
- Raw spreads from 0.0 pips — among the tightest available to retail traders
- No minimum deposit on Standard and Raw Spread accounts
- Four platforms: MT4, MT5, cTrader 5.0 (with cloud algo trading), and TradingView
- 2,500+ tradable instruments including 61 forex pairs and 2,100+ stock CFDs
- Zero deposit and withdrawal fees charged by IC Markets
- Copy trading via IC Social (FCA-regulated technology partner)
- Islamic swap-free accounts available with 5-day grace period
- Leverage up to 1:1000 on global entity
- No restrictions on trading strategies — EAs, scalping, hedging all allowed
- FXEmpire Best Lowest Spread Forex Broker 2025
- Not available to US, Canadian, New Zealand, Iranian or North Korean residents
- Educational resources are limited compared to some competitors
- Raw Pro and Raw Pro+ accounts require high minimum deposits ($5,000 / $100,000)
Raw spreads from 0.0 pips · $0 Min. Deposit · 2,500+ Instruments
Open Account with IC Markets13. Frequently Asked Questions
Yes. IC Markets operates under multiple regulatory licences including the FSA (Seychelles), ASIC (Australia), CySEC (Cyprus), and CMA (Kenya). The global entity accessible to most retail traders worldwide is regulated by the FSA Seychelles under Raw Trading Ltd (SD018).
IC Markets holds licences from reputable regulators including ASIC and CySEC. Client funds are held in segregated accounts at tier-1 banking institutions, and independent external auditors provide compliance oversight. Negative balance protection is available depending on your entity.
There is no minimum deposit on Standard, Raw Spread (MT4/MT5), and Raw Spread (cTrader) accounts. Raw Pro requires $5,000 and Raw Pro+ requires $100,000.
The Standard account has no commission — spreads start from 0.08 pip. Raw Spread accounts charge $3.50 per lot per side on MT4/MT5, and $3 per $100,000 traded per side on cTrader. Raw Pro is $1.50 per lot per side and Raw Pro+ is $1.00 per lot per side.
IC Markets offers four platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader 5.0 (with cloud algo trading), and TradingView.
Yes. IC Markets offers copy trading through IC Social, powered by Pelican Trading (FCA regulated), available on iOS and Android. It connects to MT4 and MT5 accounts with multiple copy sizing options.
No. IC Markets does not accept clients from the United States, Canada, New Zealand, Iran, or North Korea.
Yes. IC Markets offers swap-free accounts available on Standard and Raw Spread accounts across MT4, MT5, and cTrader. A flat holding fee applies per lot for positions held overnight, with a 5-day grace period on new positions.