Quick Verdict
After thorough testing and research, here's our honest assessment of this platform.
Pros
- Raw spreads from 0.0 pips
- ASIC regulation
- MT4, MT5, and cTrader
- True ECN execution
- EA-friendly with VPS
Cons
- $200 minimum deposit
- 30-day demo limit
- No proprietary web platform
IC Markets has built a reputation as the go-to broker for serious forex traders. With spreads from 0.0 pips, raw pricing from major liquidity providers, and support for MT4, MT5, and cTrader, it is especially popular among scalpers and algorithmic traders. But is it the right choice for everyone? Here is our full review.
CFDs are complex instruments with high risk of losing money rapidly due to leverage. 70-90% of retail investor accounts lose money when trading CFDs. Consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.
Quick Verdict
Rating: 4.3/5. IC Markets delivers the best raw spreads in the industry, with EUR/USD spreads from 0.0 pips on the Raw Spread account. The combination of ASIC regulation, multiple platform support (MT4, MT5, cTrader), and true ECN execution makes it a top choice for serious traders. The $200 minimum deposit is higher than Exness, but the execution quality justifies the entry barrier for active traders.
Best for: scalpers, day traders, and algorithmic traders who want raw spreads and fast execution. Skip if: you are a beginner with very small capital or want a simple web-based platform.
Who Is IC Markets For?
- ✓ Scalpers who need raw spreads from 0.0 pips
- ✓ Algorithmic traders who use Expert Advisors (EAs)
- ✓ cTrader users (IC Markets is a top cTrader broker)
- ✓ Traders who value ASIC regulation
- ✗ Beginners on a tight budget ($200 minimum deposit)
- ✗ Traders who prefer simple web-based platforms
- ✗ US residents (not accepted)
Key Features
Account Types & Minimum Deposit
IC Markets offers three accounts: Standard, Raw Spread, and cTrader. The Raw Spread account ($200 minimum deposit) is the most popular — spreads from 0.0 pips with a $3.50 commission per lot per side. The Standard account ($200 minimum) has slightly higher spreads but no commission. We funded a Raw Spread account with $500 via card and were trading within 30 minutes.
Trading Platforms & Tools
This is where IC Markets stands out: full support for MT4, MT5, and cTrader — all available on desktop, web, and mobile. cTrader offers a more modern interface with advanced charting tools, depth of market, and better order management. For algorithmic traders, IC Markets allows EAs on MT4/MT5 with no restrictions and offers VPS hosting for $22/month.
Spreads & Fees
| Account Type | EUR/USD Spread | Commission | Min Deposit |
|---|---|---|---|
| Standard | 0.6 pips | $0 | $200 |
| Raw Spread | 0.0 pips | $3.50/lot/side | $200 |
| cTrader | 0.0 pips | $3.00/lot/side | $200 |
No inactivity fees. Swap fees apply on overnight positions.
Customer Support
24/7 live chat, email, and phone. Live chat response times averaged 1-2 minutes. The support team is knowledgeable about platforms and technical issues but less helpful with strategy questions — which is standard for forex broker support.
Regulation & Safety
IC Markets is regulated by ASIC (Australia), CySEC (Cyprus), and FSA (Seychelles). ASIC regulation is one of the most respected in the industry — client funds are held in segregated trust accounts with major Australian banks. IC Markets has been operating since 2007 and is one of the most trusted brokers in the forex industry.
Deposit & Withdrawal
| Method | Min Deposit | Time | Fee |
|---|---|---|---|
| Visa/Mastercard | $200 | Instant | Free |
| Bitcoin | $50 | 10-30 min | Free |
| Ethereum | $50 | 5-15 min | Free |
| USDT | $50 | 1-5 min | Free |
| Wire Transfer | $500 | 1-3 days | Free |
Withdrawals: processed same-day for most methods. Crypto withdrawals take 1-12 hours. Card withdrawals take 1-3 business days. No withdrawal fees.
Pros & Cons
✅ Pros
- Raw spreads from 0.0 pips — best for scalpers
- ASIC regulation — top-tier Australian regulator
- MT4, MT5, and cTrader support
- True ECN execution — no requotes
- EA-friendly with VPS hosting available
- Operating since 2007 — long track record
❌ Cons
- $200 minimum deposit — higher than Exness
- 30-day demo limit (Exness offers unlimited)
- No proprietary web platform
- Swap fees can be high for long-term positions
How to Get Started
- Register — Online form, takes 3-5 minutes
- Verify — Upload ID and proof of address
- Choose platform — MT4, MT5, or cTrader
- Deposit — Minimum $200 for any account type
- Trade — True ECN execution on 60+ currency pairs
Verdict
IC Markets is one of the best brokers for active forex traders. The raw spreads, multiple platform support, and true ECN execution make it ideal for scalpers and algorithmic traders. The $200 minimum deposit is a barrier for some, but the quality of execution and regulation justifies it. For serious forex traders, IC Markets is a top-tier choice.
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FAQ
Is IC Markets regulated?
Yes, IC Markets is regulated by ASIC (Australia), CySEC (Cyprus), and FSA (Seychelles).
What is the minimum deposit for IC Markets?
$200 for all account types (Standard, Raw Spread, cTrader).
Does IC Markets accept US traders?
No, IC Markets does not accept traders from the United States.
Does IC Markets offer cTrader?
Yes, IC Markets is one of the few brokers offering cTrader alongside MT4 and MT5.
What are IC Markets spreads on EUR/USD?
From 0.0 pips on the Raw Spread account with $3.50 commission per lot per side.
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