IC Markets Review 2025

Regulations: CySEC, FSA, ASIC

Instruments: Forex, Indices, Commodities, Stocks, Bonds, Cryptocurrency, Futures

Opening an account with IC Markets is a fully digital and streamlined process, usually taking 5–15 minutes to complete the online form. Account approval and KYC verification typically occur within 24 hours, often even faster. The platform is beginner-friendly, supports multiple languages, and offers live chat support to assist during registration.

IC Markets Restricted Countries

Due to regulatory and legal requirements, IC Markets restricts clients from the following countries:

• United States (USA)
• Canada
• Iran
• North Korea
• Israel
• Russia (via .com and .sc domains)
• Belgium
• Japan
• New Zealand (some restrictions)
• Myanmar
• Yemen
• Zimbabwe
• Côte d’Ivoire (Ivory Coast)
• Cuba
• Sudan
• Syria
• New Zealand and Belgium are only permitted on IC Markets SC (regulated by the FSA in Seychelles). 

Restrictions vary by IC Markets’ jurisdictional branches (ASIC Australia, Seychelles, EU) mainly due to regulatory compliance, sanctions, and local legal limitations.

IC Markets Account Types

• Standard Account: No commission, spreads from 0.8 to 1.2 pips, market execution, minimum deposit $200. Ideal for beginners.
• Raw Spread Account: Commission charged ($7 per round-turn lot on MT4/MT5, $6 on cTrader), spreads from 0.0 pips, True ECN execution, minimum deposit $200. Best for scalpers and professional traders.
• Islamic Account: Swap-free accounts available on both Standard and Raw Spread, compliant with Shariah law.
• Demo Account: Free, virtual funds, no expiry (except after long inactivity), available on all platforms.
• Institutional/High-Volume Accounts: Custom pricing and additional features available on request for professional clients.

What is IC Markets Minimum Deposit

The minimum deposit for all live accounts (Standard, Raw Spread, Islamic) is $200 USD or equivalent in your chosen base currency. Base currencies supported include USD, EUR, GBP, AUD, NZD, SGD, JPY, CHF, and HKD, helping clients avoid currency conversion fees. If you send a currency other than USD, the amount must be at least 200 USD.

IC Markets Demo Account

IC Markets provides a free demo account funded with $50,000 in virtual funds. It offers full access to MT4, MT5, and cTrader platforms with no fixed expiry. Accounts may be deactivated after 30–90 days of inactivity. Demo accounts are always ideal for practicing strategies and getting familiar with the platform.

How to Open an Account

The account opening process includes:

1. Completing the online sign-up form, selecting account type, trading platform, base currency, and leverage.
2. Entering personal and contact information, plus brief trading experience details.
3. Uploading KYC documents (proof of identity and address) through the client portal.
4. Verification by IC Markets, usually within 24 hours.
5. Receiving approval and login credentials via email.
6. Funding the account and starting to trade.

This process is fast, fully digital, beginner-friendly, and requires no physical paperwork.

Serving a geographically varied clientele, IC Markets supports many deposit and withdrawal pathways, extending from bank transfers and major card payments to PayPal, Skrill, along with regional methods. This lets traders around the globe conveniently manage account funding and withdrawals. Also, the minimum deposit often remains relatively accessible, appealing to novice traders and proficient operators alike.

Processing durations alter based on the method used: e-wallet and card operations typically finalize quickly, whereas bank wires may require multiple business days subject to cross-institution processes. Across all modes, IC Markets enforces stringent encryption plus thorough compliance checks. Matching anti-money laundering and know-your-customer policies, the broker might request official photo ID or address proof ahead of granting large withdrawals, ensuring robust security for the trading ecosystem.

IC Markets Deposit Options and Fees

Deposits to IC Markets commonly go through swiftly, particularly when using cards or popular e-wallets. While IC Markets itself typically doesn't levy deposit fees, external platforms or financial entities could institute charges not controlled by the broker. When the account currency differs from the deposit currency, conversion steps might generate extra costs, so some clients prefer to deposit in the same currency to reduce overhead.

Traders are advised to finalize the necessary account verifications—commonly a valid ID plus a proof of residence—prior to making sizable contributions. This confirms adherence to official mandates while guaranteeing only rightful owners initiate deposits and subsequent withdrawals.

IC Markets Withdrawals Options and Fees

Withdrawals through IC Markets are widely known for efficiency, frequently processed on the same day if requests arrive before the broker’s cut-off. The precise time until funds arrive differs based on the route taken. E-wallet or card-based refunds can happen nearly right away or within a few hours, while a bank wire may range from two to five working days.

• Free or modest withdrawal costs for many channels
• Same-day turnaround for timely requests
• Credit/Debit cards: May require up to five days for recognition
• Bank wires: Often two-to-five days, subject to banking intricacies

In line with anti-fraud principles, withdrawals are usually returned initially through the original deposit technique until the deposited amount is reimbursed. This maintains a traceable transaction record and confirms only authorized users can retrieve assets. Any remaining surplus beyond that figure can then be diverted to an alternative method approved by the broker’s AML guidelines.

IC Markets provides a clear and competitive fee structure. Trading fees are very low, especially for scalpers and algorithmic traders. Non-trading fees are minimal, and there are no hidden charges. The details below explain trading fees like spreads, commissions, and swaps, as well as deposit, withdrawal, and inactivity fees.

IC Markets Trading Fees

Trading fees include spreads, commissions, and swap charges. These vary by account type and platform. The Raw Spread account offers tight spreads but charges a commission, while the Standard account has wider spreads with no commissions. This allows traders to choose based on their trading style and cost preference.

IC Markets Spreads

Spreads represent the cost between buying and selling prices. On Raw Spread accounts, spreads are extremely tight, starting from 0.0 pips on popular pairs like EUR/USD, which is excellent for cost-conscious traders. Standard accounts have spreads of around 0.8 to 1.2 pips but no commission fees.

IC Markets Commissions

Raw Spread accounts charge a commission per round. MetaTrader platforms have a $7 per lot commission, while cTrader charges $6 per lot, making it slightly cheaper. This commission is transparent and competitive compared to other ECN brokers, offering value for traders who want low spreads and clear costs.

IC Markets Swaps

Swaps are fees charged for holding leveraged positions overnight. IC Markets doesn’t show fixed swap rates because they change based on the instrument, trade size, position (long or short), and market conditions. Swaps are calculated daily and can change with interest rates and liquidity. 

 Islamic swap-free accounts are available for traders who require them, eliminating overnight fees to comply with Sharia law.

I created a sample table format to display typical swap information for major instruments. It was based on common market practices for brokers like IC Markets.

Note: Negative values indicate a fee charged to hold the position overnight; positive values indicate a credit. Swaps can vary daily.

Note: Actual values change based on real-time data. You can check the actual swap rates in real time from the broker’s platform or IC Markets website.

Non-Trading Fees

Non-trading fees cover deposits, withdrawals, inactivity, and currency conversion. IC Markets keeps these fees low, with no hidden charges, to ensure affordable trading. Below is a detailed review of the non-trading fees I observed at this broker during on my experience with them.

IC Markets Inactivity Fees

IC Markets does not charge inactivity or account maintenance fees. This is ideal for traders who may trade infrequently or want to keep their accounts open without extra costs.

IC Markets Deposit and Withdrawal Fees

IC Markets does not charge any fees for deposits across most payment methods, including bank wire transfers, credit/debit cards, PayPal, Skrill, Neteller, Fasapay, UnionPay, and others. However, keep in mind that third-party providers such as banks may charge fees for wire transfers, which are outside IC Markets’ control.

On the withdrawal side, most methods like e-wallets (Skrill, Neteller, PayPal), credit/debit cards, and popular online payment options are free of charge. The exception is international bank wire withdrawals, which incur a fee of $20 AUD. This fee is relatively common in the industry due to banking costs involved in processing international transfers. 

*Note: Third-party fees, such as bank charges on wire deposits, may apply.

IC Markets Currency Conversion Fees

IC Markets does not charge currency conversion fees directly, but third-party fees may apply from banks or payment providers depending on the client’s currency and method used. It’s advisable to check with your payment service to understand any extra costs.

IC Markets Europe (Cyprus via CySEC) cannot offer any bonuses or referral rewards because CySEC rules do not allow it. I also emailed the partnership team to check the other branches, and they confirmed that no bonuses or promotions are offered there either. So, none of the IC Markets branches currently provide any bonus or referral programs.

Final Verdict

IC Markets is a reliable broker for traders who want low-cost, fast, and flexible trading. It offers MT4, MT5, and cTrader platforms, with accounts starting at $200, tight spreads, and support for high leverage and automated strategies. The broker is regulated in Australia and the EU, but offshore accounts offer less protection, and U.S. clients are not accepted. Customer support is responsive, and security is strong with segregated funds and SSL protection. Overall, IC Markets is best for active traders, scalpers, and algorithmic traders who value speed, low fees, and multiple instruments, though beginners may need extra effort to learn.

IC Markets offers several resources to help traders learn and stay informed. Their services are delivered through three main channels. Market Research on their website provides the latest market updates and live data. Learning Materials, also on the website, offer resources to study and understand trading. Their Social Media is used to share various content, including educational trading information. The methods above have been listed and described in detail.

Market Research

IC Markets Market Research provides traders with timely insights, expert analysis, and advanced tools to make informed trading decisions. It includes daily market updates, economic calendars, technical analysis, real-time news feeds, advanced charting, and VPS services for automated strategies.

• Daily Market Analysis: Updates and expert commentary on market trends and events
• Economic Calendar: Key economic releases with impact forecasts
• Trading Central: Technical analysis, signals, and market insights within platforms
• Market News Feeds: Real-time news from trusted sources
• Advanced Charting Tools: Available on MT4, MT5, and cTrader with many indicators and drawing tools
• VPS Services: Helps run automated strategies with minimal delay

Learning Materials

The Learning Materials in IC Markets website offer a variety of resources to help traders build knowledge and improve skills. These include webinars, video tutorials, articles and guides, a glossary of trading terms, and practical tools and tips for better trading.

• Webinars: Live and recorded sessions on trading strategies, platform tutorials, and market analysis
• Video Tutorials: Step-by-step guides for using platforms and tools
• Articles & Guides: Written content covering basics, advanced topics, and risk management
• Glossary: Definitions of common trading terms for beginners
• Trading Tools & Tips: Practical advice to improve trading skills

Social Media

IC Markets Social Media provides traders with updates, educational content, and market insights through platforms including X (Twitter), Facebook, and Instagram. These resources apply to IC Markets Seychelles (icmarkets.sc) and are also available on other branch platforms.

• X (Twitter) – IC Markets: Updates on market news, trading insights, and company announcements.
• Facebook – IC Markets: Educational content, market analysis, and community engagement.
• Instagram – IC Markets Global: Visual guides, trading tips, and highlights of market trends.

Prior to pursuing an account with IC Markets, individuals should confirm that their home country permits usage, as IC Markets caters to sections of Europe, Asia, Oceania, and portions of Africa. However, local rules hinder certain populations (e.g., the United States, Canada, Iran) from registration. Because these constraints can alter unexpectedly, the broker suggests checking official guidelines or contacting support to verify eligibility.

Given the broker’s network of licensed branches, IC Markets usually enrolls each client under the entity best corresponding with that client’s region. Prospective users need to learn about domestic conditions, maximum leverage caps, plus any other relevant frameworks that might influence their trading. Such care maintains compliance with worldwide requirements while preserving the platform’s broad offerings.