“IC Markets (International Capital Markets) is a regulated Forex ECN and CFD broker headquartered in Australia, offering to trade on more than 236+ financial instruments across Forex, Commodities, Indices, Bonds, Cryptocurrency, Stocks and Futures on the MetaTrader 4, MetaTrader 5 and cTrader platforms for desktop, web and mobile.”
IC Markets was founded in Sydney, Australia, in 2007 and is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), as well as the Seychelles Financial Services Authority (FSA).
The broker offers three core trading accounts called Raw Spread (cTrader), Raw Spread (MetaTrader) and a Standard Account (MetaTrader). Spreads start from zero pips on the Raw Spread accounts with commission-payable. The Standard Account offers commission-free trading with spreads from just one pip. The broker also offers demo trading accounts and Islamic swap-free accounts.
While the broker offers services and features designed for both beginner and professional traders, the company promotes themselves as the ‘go-to’ choice for high volume traders, scalpers and trading algos due to their New York Equinix NY4 data centre – processing over 500,000 trades per day. The broker also offers additional trading features such as social trading integration with ZuluTrade and MyFXbook.
Pros: | Cons: |
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☑️ Regulations | VFS (Gibraltar), FSA(SC) (Seychelles) |
🗺 Supported Languages | Arabic, Chinese, English, Indonesian, Italian, Portuguese, Russian, Spanish, Thai, Vietnamese |
💰 Products | Crypto, Futures, Options, Bonds, Currencies, Indices, Commodities, Stocks |
💵 Min Deposit | $4 |
💹 Max Leverage | 1:4 (VFS), 1:100 (VFS), 1:500 (FSA(SC)) |
🖥 Trading Desk Type | ECN, No dealing desk |
📊 Trading Platforms | cTrader, MT4, MT5 |
💳 Deposit Options | Credit Card, Neteller, PayPal, Skrill, Western Union, Wire Transfer |
💳 Withdrawal Options | Credit Card, Neteller, PayPal, Skrill, Western Union, Wire Transfer |
🤴 Demo Account | Yes |
🗓 Foundation Year | 2007 |
🌎 Headquarters Country | Australia |
“IC Markets offers regulatory oversight from the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA), as well as transparency on their auditing, insurance and banking relationships.”
IC Markets is registered with the globally recognised Australian Securities and Investments Commission (ASIC) under International Capital Markets PTY Ltd (trading as IC Markets), as confirmed on the ASIC register below:
The company also holds an Australian Financial Services Licence, as confirmed below:
IC Markets is also registered and regulated by the Financial Services Authority of Seychelles (FSA), under the business name Raw Trading Ltd, as confirmed on the FSA’s regulated entity section of their website:
The company’s additional regulation by the FSA of Seychelles came into effect in July 2019 due to changing global regulations for CFD providers. Through this regulatory scheme, some IC Markets clients outside of Australia can continue to trade with conditions available to Australian clients, such as higher leverage.
According to the broker’s website, IC Markets also offers further protection to clients by:
However, under the current regulations of ASIC and the FSA, there is no investor-compensation scheme in the event the company becomes insolvent but this could change in the future.
IC Markets is also registered and regulated by the Cyprus Securities and Exchange Commission (CySEC), as shown below:
“At IC Markets, clients can trade more than 236+ financial instruments covering Forex ECN, CFDs and Futures with 60 Forex pairs, 120 Stocks, 17 Indices, 19 Commodities, 5 Bonds and 10 Cryptocurrencies.”
A wide range of markets and products are available to trade on with IC Markets. Below is a list of just some of the markets available:
Forex | Indices | Commodities |
EURUSD | Germany 30 | XAUAUD |
AUDNZD | France 40 | XAGUSD |
CHFJPY | US Small Cap 2000 | Brent Oil Futures |
USDTHB | Australia S&P ASX 200 | Coffee Futures |
Bonds | Cryptos | Stocks |
Euro Bobl | BTCUSD | Commonwealth Bank |
Euro Bund | ETHUSD | |
Japanese 10 YR | XRPUSD | Rio Tinto Ltd |
US 10 YR T-Note | EMCUSD | National Australia Bank |
* Details regarding the available assets are taken from the IC Markets website and trading platform and are correct at the time of this review.
Trading costs such as spreads, commissions and overnight funding (swap) rates vary depending on the instrument being traded and account type opened and are covered further down this review.
“IC Markets offers three main types of live trading accounts called Raw Spread (cTrader), Raw Spread (MetaTrader) and the Standard Account (MetaTrader). They also offer Islamic swap-free accounts and the use of a free demo trading account.”
IC Markets offers some unique features for each of their account types. Some of the features are listed below:
The features listed above are useful for both the beginner and the advanced trader. The IC Markets Raw Spread account offers liquidity from over 50 different banks and dark pool liquidity sources.
Opening a live account, or a demo trading account, seems quick and easy by clicking one of the options on the top banner of their website, as shown below:
After clicking ‘Start Trading’ or ‘Try a Free Demo’, this will then open up an account registration page involving four steps to create a live trading account or just one step for a demo trading account, as shown below:
Once registered, users have access to the IC Markets Client Portal area. To gain full access to services, users will need to upload proof of address and proof of identity documents, as shown below:
IC Markets also offer swap-free (Islamic) accounts but do not accept applications from residents of the United States, Canada, Israel or the Republic of Iran.
“IC Markets offers a variety of funding options in 10 different base currencies using credit and debit cards, wire transfer, PayPal, Neteller, Skrill, Union Pay, Bpay, FasaPay and many more.”
Clients of IC Markets have a range of options available to them when depositing funds in their trading account. This includes credit and debit cards, PayPal, Neteller, Neteller VIP, Skrill, UnionPay, Wire Transfer, Bpay, FasaPay, Broker to Broker, POLI, Thai Internet Banking, Rapidpay, Klarna, Bitcoin Wallet (for BTC deposits) and Vietnamese Internet Banking. Each of these options has different processing times and account currency options which are detailed clearly on their website, as the example screenshot below shows:
Traders can deposit funds in a wide range of accepted currencies including AUD, NZD, USD, JPY, EUR, HKD, CAD, CHF, GBP and SGD.
Through the ‘Secure Client Area,’ traders can fund their accounts in real-time using a credit card or Skrill, as well as discover the options available for fund withdrawals, as shown below:
Withdrawal times vary depending on the method with instant withdrawals using PayPal, Neteller or Skrill, and the usual 3 – 5 business days when withdrawing to credit or debit cards.
IC Markets does not charge any additional fees for deposits or withdrawals.
“IC Markets offers an impressive suite of trading platforms for Web and Desktop including cTrader, cTrader Web, cTrader Algo, MetaTrader 4, MetaTrader 5, MetaTrader Web and MetaTrader 4 and 5 for Mac.”
Through the IC Markets ‘Secure Client Area’ clients can download and use the wide range of trading software available. The following trading platforms are available:
MetaTrader 4 and MetaTrader 5 Downloads:
The MetaTrader 4 and MetaTrader 5 trading platforms offer a variety of features including:
cTrader Downloads:
The cTrader trading platform offers a variety of features including:
Customer support is offered in multiple languages including English, Chinese, Indonesian, Italian, Spanish, Portuguese, Thai and Vietnamese. All the trading platforms on offer provide unique advantages to both beginner and professional traders due to their worldwide popularity. The use of a demo trading account is useful for traders to test out any one of the platforms offered by IC Markets.
“IC Markets offers browser-based mobile trading as well as iOS and Android trading apps for both the MetaTrader and cTrader platforms.”
Traders can download MetaTrader 4 and MetaTrader 5 for both the iOS and Android operating systems, through the respective app stores, as the screenshot below from the Trading Tools->Downloads section in the ‘Secure Client Area’ shows:
The IC Markets MetaTrader mobile trading app for Android and iOS users offer the following features:
Android users can also download the cTrader mobile trading platform app and iPhone users can use the cTrader mobile web browser to trade on the move.
IC Markets offers an impressive suite of mobile trading solutions for both Android and iOS users.
“IC Markets offers additional trading products such as social trading integration with ZuluTrade and MyFXbook, as well as an Advanced Trading Tools package for MetaTrader 4 and access to Trading Central.”
Clients trading with IC Markets have access to some unique additional features, such as:
“IC Markets offers commission-free trading on some accounts, as well as commission-based trading with spreads as low as 0.0 pips depending on the type of trading account opened.”
IC Markets trading costs depend on the type of account opened: Raw Spreads (cTrader), Raw Spreads (MetaTrader) or the Standard Account (MetaTrader). As the broker offers institutional grade liquidity the spreads are variable as prices are derived from multiple liquidity providers.
Some examples are provided below and more can be found on their website:
Forex Spreads
MetaTrader Commissions
Trading commissions for MetaTrader 4 Raw Spread accounts are shown below:
cTrader Commissions
Commission for cTrader accounts are shown below:
Spreads for Commodities
Spreads for Indices
Commissions
IC Markets offers commission-free trading on Indices, Bonds, Futures and Cryptocurrencies across all account types, as well as on the Standard Account for ECN Forex trading.
Swap Rates
Swap rates for holding positions overnight vary and can be found in both the MetaTrader and cTrader trading platforms.
“Currently, IC Markets do not have any bonus or promotional offers.”
Currently, IC Markets do not have any bonus or promotional offers but this could change over time.
“IC Markets offers 24 hours a day, 7 days a week multilingual Live Chat support as well as through email and phone.”
IC Markets offers multilingual customer support in a wide variety of languages including IC Markets offers customer support in multiple languages including English, Chinese, Indonesian, Italian, Spanish, Portuguese, Thai and Vietnamese.
Clients can get in touch with IC Markets in several ways, including via Live Chat. However, clients are first asked to type in their question in the Help Centre to get an instant answer as shown below:
The broker also offers a live chat facility, as shown below:
Contact Information:
There are also separate contact details for IC Markets Chinese Support Center with its own Live Chat option found on the website. Or by phone at +86 400 609 6783, or by using the email address support.cn@icmarkets.com.
“IC Markets offers detailed market analysis and commentary through their blog page called Information Hub for Serious Traders.”
Traders can stay up to date with market developments through the IC Markets blog page, called the Information Hub for Serious Traders, which offers several categories including Company News, Fundamental Analysis, Technical Analysis, Education and Trading Data, as the screenshot below shows:
Within the IC Markets blog, traders can enjoy regular market updates, as well as a Weekly Technical Outlook and Review post. On their homepage, there is also access to an economic calendar and a Forex calculator page. The IC Markets market analysis section can also be accessed through their trading platforms.
“IC Markets offers a wide range of educational resources such as a Forex Trading 101 and Technical Analysis 101 section, as well as videos and much more.”
The trader education offered from IC Markets can be found on their blog page and covers different aspects of the trading process, including:
These come in the form of blog posts and videos covering different topics within each category. An example of their Forex Trading 101 Education page is shown below:
For beginner traders, a wide range of MetaTrader and cTrader video tutorials can be found on the IC Markets YouTube page, as shown below:
“IC Markets offers a suite of trading platforms, accounts and services that offer unique advantages to both beginner and advanced traders.”
From our observations, the services offered by IC Markets are suitable for both beginner and advanced traders. Having access to a wide range of trading platforms with video tutorials, a free demo trading account, a large educational library and 24/7 Live Chat support can help beginner traders to get started on their journey.
Advanced traders will enjoy the multi-platform offering across desktop, web and mobile, from MetaTrader 4, MetaTrader 5, cTrader and additional trading features such as social trading with ZuluTrade and MyFXbook. Users can also access commission-free or commission-based trading accounts.
Scalpers and algo traders will particularly appreciate the ‘no restriction and no re-quote’ environment offered by the IC Markets ECN account providing an average 0.1 pip spread on EUR/USD. The server location will also help high-frequency automated traders receive the best possible execution.
Is IC Markets regulated?
Yes, IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission and the Seychelles Financial Services Authority (FSA).
Where is IC Markets based?
IC Markets is based at Level 4 50 Carrington Street, Sydney NSW, 2000 AUSTRALIA.
How does IC Markets make money?
IC Markets makes money through spreads, swaps and commissions on certain trading accounts and instruments.
How do I deposit in IC Markets account?
Funds can be deposited into a trading account through a variety of mediums, including credit and debit cards, PayPal, Neteller, Neteller VIP, Skrill, UnionPay, Wire Transfer, Bpay, FasaPay, Broker to Broker, POLI, Thai Internet Banking, Rapidpay, Klarna, Bitcoin Wallet (for BTC deposits) and Vietnamese Internet Banking.
What is the min. deposit for IC Markets?
The minimum deposit to open a trading account is $200.
How do I withdraw money from IC Markets?
Withdrawals can be made from IC Markets through the ‘Secure Client Area’ found on their homepage and can be withdrawn to credit and debit cards, as well as PayPal, Neteller and Skrill for instant processing.
What is the max leverage in IC Markets?
The maximum leverage offered by IC Markets is 500:1 across all three account types.
How do I open an account with IC Markets?
An account can be opened at the click of a button on the IC Markets website and can be done in just four steps.
Does IC Markets use MetaTrader?
Yes, IC Markets does offer MetaTrader 4 and MetaTrader 5.
“IC Markets (International Capital Markets) is a regulated Forex ECN and CFD broker headquartered in Australia, offering to trade on more than 236+ financial instruments across Forex, Commodities, Indices, Bonds, Cryptocurrency, Stocks and Futures on the MetaTrader 4, MetaTrader 5 and cTrader platforms for desktop, web and mobile.”
IC Markets was founded in Sydney, Australia, in 2007 and is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), as well as the Seychelles Financial Services Authority (FSA).
The broker offers three core trading accounts called Raw Spread (cTrader), Raw Spread (MetaTrader) and a Standard Account (MetaTrader). Spreads start from zero pips on the Raw Spread accounts with commissions-payable. The Standard Account offers commission-free trading with spreads from just one pip. The broker also offers demo trading accounts and Islamic swap-free accounts.
While the broker offers services and features designed for both beginner and professional traders, the company promotes themselves as the ‘go to’ choice for high volume traders, scalpers and trading algos due to their New York Equinix NY4 data centre – processing over 500,000 trades per day. The broker also offers additional trading features such as social trading integration with ZuluTrade and MyFXbook.
Headquarters Country | Australia |
Foundation Year | 2007 |
Regulations | VFS (Gibraltar), FSA(SC) (Seychelles) |
Publicly Traded | Yes |
Number Of Employees | 200+ |
Trading Desk Type | ECN, No dealing desk |
Trading Platforms | cTrader, MT4, MT5 |
Restricted Countries | Afghanistan, Angola, Antigua and Barbuda, Bolivia, Botswana, Cambodia, Congo, Cote dIvoire, Cuba, Gambia, Guinea, Guinea-Bissau, Iran, Iraq, Kyrgyzstan, Lesotho, Liberia, Libya, Mali, Myanmar, Namibia, Niger, North Korea, Senegal, Sierra Leone, Syria, Tanzania, Togo, United States, Yemen, Zimbabwe+20 |
Supported Languages | Arabic, Chinese, English, Indonesian, Italian, Portuguese, Russian, Spanish, Thai, Vietnamese |
Min Deposit | $4 |
Max Leverage | 1:4 (VFS), 1:100 (VFS), 1:500 (FSA(SC)) |
Deposit Options | Credit Card, Neteller, PayPal, Skrill, Western Union, Wire Transfer |
Withdrawal Options | Credit Card, Neteller, PayPal, Skrill, Western Union, Wire Transfer |
Crypto | Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Dash, EOS, peercoin |
Products | Crypto, Futures, Options, Bonds, Currencies, Indices, Commodities, Stocks |
Demo Account | Yes |
OCO Orders | No |
Offers Hedging | Yes |
Automated Trading | Yes |
API Trading | Yes |
Guaranteed Stop Loss | Yes |
Guaranteed Limit Orders | Yes |
Guaranteed Fills / Liquidity | No |
Economic calendar | Yes |
Trading From Chart | No |
One-Click Trading | Yes |
Expert Advisor | Yes |
Social Trading | Yes |
Autochartist | Yes |
Trading Signals | No |
Platform Languages | Arabic, Chinese, English, French, Hindi, Indonesian, Italian, Portuguese, Russian, Spanish, Thai, Vietnamese |
24 Hours Support | Yes |
Support During Weekends | Yes |
Live Chat | Yes |
Daily Market Commentary | Yes |
News (Top-Tier Sources) | Yes |
Webinars | Yes |
Deposit Fee | No |
Withdrawal Fee | No |
Inactivity Fee | No |
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.
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