Home / Forex Brokers / IC Markets Broker Review

IC Markets Broker Review

By Jeffrey Cammack Updated: August 3rd, 2019
Average Score


Min. Deposit $200
Max. Leverage 500:1
Min. Spread 0.1 pips
Regulators ASIC, CySEC
Regulator Origin ASIC  CySEC
Broker Type True ECN


IC Markets presents itself as the best and largest true ECN broker. It is ASIC regulated and offers the MetaTrader4, MetaTrader5 and cTrader platforms. IC Markets is highly recommended to both new and experienced traders looking for faster execution and tighter spreads.

Headquartered in downtown Sydney, IC Markets represents the best of highly-reputable and competitive Australian brokers.

Beginner traders will find the IC Markets account structure welcoming and simple to understand and it understands customer retention involves a combination of tighter spreads, cutting edge technology, fast trade execution and top quality customer service.


Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Bonuses None
Beginner Friendly Excellent
About our review process

Trading Conditions

Minimum Deposit $200
Base currencies AUD, USD, EUR, GBP, CAD, SGD, NZD, JPY, CHF, HKD
Number of FX Pairs 60
Hedging Allowed
Swap-Free Accounts

Average Spreads

EUR / USD 0.1
GBP / USD 0.4
USD / JPY 0.2

Company Details

Company name International Capital Markets Pty Ltd.
Founded 2007
Website Visit Website
Type True ECN
Regulators ASIC, CySEC
Office locations Australia

Deposit & Withdrawal Methods

Supported Platforms for IC Markets

IC Markets Broker Detailed Review

Is IC Markets Safe?

IC Markets have been regulated by ASIC (license 335692) since 2009 and use trusted Australian banks Westpac and NAB to hold segregated client funds. In the unlikely event of an IC Markets bankruptcy, client funds are secure and IC Markets has Professional Indemnity Insurance through Lloyds of London. IC Markets does not put itself forward for any awards and instead focuses on client satisfaction and improved trading conditions.

IC Markets for Beginners

IC Markets is one of the few true ECN brokers accessible to beginner traders.  Where many other ECN brokers fail is in the provision of education and analysis, often forcing traders to self-educate with third party material.  IC Markets, with a full library of course material, independent market analysis and webinars offers new traders a comprehensive education on Forex trading.  IC Markets also supports all three of the top software options and 24/5 customer support.

Education Material

IC Markets provides an extensive free education hub open to everyone, whether they have an account with IC Markets or not. Unlike other brokers, where educational material is often structured, IC Markets has a selection of blog posts that are connected by topics. And unlike other ECN brokers, it is obvious that IC Markets have invested heavily in educating traders of all experience levels. The principal elements of the education area are:

  • Forex Basics
  • Technical Analysis
  • Fundamental Analysis
  • Risk Management
  • Trading Psychology
  • Trading Plan

Videos to help new clients set up trading software are also available. Videos cover topics like How to Download a Demo Account, How to Use The One Click Trade Manager, How to Hedge an Order in MetaTrader 4, and Using the Trade Terminal. A set of previously recorded webinars hosted by knowledgeable educators who have a clear command of their expertise are supplementary to the articles available to read. The webinars principally cover areas of technical analysis like Patterns, Fibonacci in Trading, Trading Candlesticks and Fading and Scalping, but there are additional sessions on Market Structure, Market Dynamics and Professional Trader Psychology.

Analysis Material

IC Markets provides market analysis on their blog, and clients who register for an account will also gain access to Trading Central analysis. Trading Central is an independent company and this tool is recommended for new traders wanting to learn technical analysis or those that want an independent opinion on their trades.

Customer Support

IC Markets has a dedicated support department operating 24/5. Contact them via live chat, email and phone. Live chat and phone support can assist with any general questions and queries, however, queries addressed to specific departments such as the accounts department are only via email. We often have suggestions on how customer service can be improved, but we have never had issues contacting staff and getting straight answers quickly.

Trading Conditions

The principal focus of IC Markets is to create the best trading conditions possible, this is achieved by focusing on finding the best conditions from a network of equity providers and technology that provides fast trade execution. IC Markets works with a large number of equity providers so as to present the best conditions and tightest spreads to their clients. Cutting-edge technology is developed in-house to enable the search for the best conditions and give clients better control of trades. IC Markets have servers in both London and New York, providing clients with low latency, fast trade execution, leading to less slippage and better trading outcomes.

Account Types

IC Markets offers clients two live accounts and a demo account. Each of the live accounts has a 200 USD minimum deposit, maximum leverage of 500:1 and 64 currency pairs to trade. It is quite rare for brokers to offer this similarity in features across two very different account types. A swap-free option is available on all accounts for Muslim clients.

Demo Account – The IC Markets demo account does not expire unless you are inactive for 30 days. The demo account does give you a starting balance, but should you use all this capital, a customer support agent can top it up again.

Standard Account – The standard differs in how IC Markets make their money from trades. This account does not charge any commission on trades, but the spreads are wider than on the True ECN account. Spreads start at 1.0 pips making this account the better option for those who trade occasionally, or with a limited balance. Standard leverage of 500:1 is available.

True ECN Account – The True ECN account is for more professional traders or those trading high volumes. If you are a scalper, or open and close many trades a day, this is the best option for you. The spreads are tight, starting at 0.0 pips, but there is a commission of 3.5 USD per standard lot and leverage is also available at 500:1.

Cryptocurrency CFD Trading

IC Markets offers a reasonably wide range of cryptocurrencies. Many brokers only provide a minimal set of cryptocurrency pairs and limit them to less appealing account types, but that is not a concern with IC Markets. IC Markets offers Bitcoin, Bitcoin Cash, Ethereum, Dash Coin, Ripple & Litecoin. These pairs are available for all account types, and trading conditions allow short trades on cryptocurrencies. Leverage is limited to 1:5 for cryptocurrencies which is standard for these products, as volatility can be extreme at times. Spreads on these currencies are variable and are significantly higher than Fiat currencies but in line with other brokers.

Deposits and Withdrawals

Deposit by Credit/Debit card, Paypal, Skrill, Neteller, Qiwi, Webmoney, Moneybookers, China Union Pay, FasaPay, Bank wire transfer, Bpay, broker to broker transfer and branch deposits. Most deposits are completed immediately, and a vast majority within 12 hours. All withdrawals received before noon AEST/AEDT are processed the same day but note that additional time is required before you receive the funds. The time until you receive your funds varies on the withdrawal method you are using. Depending on the withdrawal method used there can be provider fees or restrictions. However, IC Markets does not charge any additional withdrawal fees. Total costs are:

  • Credit/debit card withdrawals – No Fees
  • Australian domestic bank transfers – No Fees
  • International bank transfers – AUD 20
  • Paypal/Neteller/Skrill withdrawals – No Fees

IC Markets does not have an inactivity fee. However, client accounts will be archived if there is no balance and the account is not used for more than six months.

Trading Platforms

IC Markets offers clients MetaTrader 4, 5 and cTrader. MetaTrader 4  and 5 are downloadable platforms, while cTrader runs in a browser. All three are available on mobile. Which software a trader uses is a personal choice, as they all offer the same fast trading and advanced charting tools. According to Finance Magnates Intelligence, IC Markets was the broker with the highest trade volume passing through MT4, exceeding 497.3 billion USD in Q4, 2018. The next broker in the list was Pepperstone with 210.4 billion USD over the same period. IC Markets has a technical support team which is open 24/7 and available via phone, email and the chat service offered on their website.

Mobile Trading Apps

IC Markets supports the MetaTrader 4 & 5 applications as well as their own IC Markets cTrader application for mobile. The IC Markets cTrader supports 26-time frames, 50+ indicators, 4 chart types, symbol watchlists, price alerts, and fluid and responsive charts.


IC Markets is a cutting-edge ECN broker that uses a combination of technology to search a network of equity providers to offer the best trading conditions for clients and fast execution technology. IC Markets has leading ASIC regulation, high-quality customer support and a comprehensive educational area. All of this is available on the leading three trading platforms for CFD trading. If you are new to trading, IC Markets offers best-in-class support to help you get started. If you are an experienced trader looking for an ECN broker with the best trading conditions and fast execution, IC Markets are a great choice.

Compare Brokers

IC Markets Go Markets FP Markets FxPro
Funding Mastercard, Visa, UnionPay, Neteller, Skrill, Paypal, Bank Transfer Visa, Mastercard, Bank Transfer, POLi, Fasapay, Neteller, Skrill, BPay Visa, Mastercard, Bank Transfer, POLi, Fasapay, Neteller, Skrill, PaySec, BPay Mastercard, Visa, Maestro, UnionPay, Neteller, Skrill, Bank Transfer
Broker Type True ECN ECN Pure ECN NDD Intervention Market Maker
Currency Pairs 60 50+ 50+ 70+
Minimum Spread 0.1 0.2 0.1 0.6
Minimum Deposit $200 $200 $100 $100
Max. Leverage 500:1 500:1 500:1 500:1
Visit Website Visit IC Markets Visit Go Markets Visit FP Markets Visit FxPro
Expert Review Read Review Read Review Read Review Read Review

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Sign Up