IC Markets Review

IC Markets Review 2024

8 min read

IC Markets is a well-regulated Australian online Forex and Contracts for Difference (CFD) broker that has been operating since 2007. Hence, our IC Markets review. The website offers multiple trading accounts, CFD products, forex pairs, trading tools, resources, and platforms to help users trade efficiently.

Unfortunately, CFDs are over-the-counter (OTC) products, making them unavailable for retail traders in the US and Canada. On the other hand, they are available in other major European and Asian countries, as well as Australia.

IC markets have over 200,00 active customers worldwide and process over $15B in trades daily. Here is everything you need to know about IC markets before trading forex and CFDs on the platform.

The IC Markets review shows that they offer various CFDs and forex investments. Preparing before engaging in these investments would be best because they are risky.

Over 70% of IC Markets’ retail investors lose money when they trade these assets. However, if you are experienced, this platform offers plenty of benefits and is safe.

It is regulated by multiple top-tier authorities, such as the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Services Authority (FSA).

IC Markets Review of the Advantages

Let’s start this IC Markets review with the platform’s advantages. IC Markets offers the fastest possible trade execution and low spreads, starting from 0.0 pips. Depending on the asset, you can trade 5 or 7 days a week and 24 hours daily. This makes it an attractive choice for scalpers and algorithmic traders.

The IC Markets global team is also available on the platform 24/7. The platform’s technology sorts and ranks prices in real-time, which allows for the execution of large trades over multiple pricing providers and their pricing tiers. This ensures the best price for trades of any size, from 1 micro lot to 200 lots.

IC Markets Review of the Disadvantages

What about an IC Markets review of its disadvantages? Before starting your journey with IC Markets, it’s important to note that many users mention that the trading platforms may have a somewhat dated interface compared to modern brokers.

The system is ‘’clunky’’ and somewhat confusing. Another disadvantage is that you can’t trade other major assets such as stocks, ETFs, or mutual funds, and there are no checking or savings accounts. 

Nonetheless, the platform’s advanced features, execution speed, and pricing make it very popular among traders. 

IC Markets Products

IC Markets review finds they offer over 3500 tradable symbols across forex, CFD indices, commodities, cryptocurrencies, stocks, futures, and bonds. Here is a list of what’s offered.

  • Forex – 61 major, minor, and exotic currency pairs (USD, EUR, AUD, GBP, CAD, CHF, JPY, SGD, DKK, HKD, NOK, PLN, SEK, TRY, ZAR, CZK, HUF, RUB and THB) with competitive spreads, depending on your account type.
  • Indices – 25 major global indices (Dow Jones, S&P 500, NASDAQ, DAX, FTSE, Nikkei, etc.).
  • Commodities – Over 20 CFDs on commodities (Brent crude oil, WTI Crude Oil, natural gas, gold, silver, platinum, palladium, cocoa, coffee, corn, cotton, soybean, sugar, wheat, and more ).
  • Stocks – Over 2100 stocks across the NYSE, NASDAQ, ASX, and European stock exchanges.
  • Cryptocurrencies – 21 major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Dash, Cardano (ADA), Dogecoin (DOGE) and more. 
  • Bonds – Over 20 from various European, Japanese, and American markets.
  • Futures – 4 futures: ICE Dollar Index Futures (DXY), CBOE VIX Index Futures (VIX), Brent Crude Oil Futures (BRENT) and WTI Crude Oil Futures (WTI).

Trading Accounts and Pricing

IC Markets review shows they offer three account types for different trading styles and preferences. Funding options include credit/debit cards, Skrill, and wire transfers. Here is a breakdown of each account. Visit the platform’s website for more information on its spreads and pricing.

IC Markets Review

1. Standard Account

Let’s continue this IC Markets review by looking at their standard account. The standard account is for discretionary traders (trading decisions based on intuition and experience). It is designed for traders who prefer a commission-free trading environment.

This account type operates on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, offering spreads starting from 0.8 pips on major forex pairs. The minimum deposit required is $200.

Traders can leverage their positions up to 1:500 for global accounts or 1:30 for Australian and European accounts. The account allows for 200 open positions at any given time.

The Standard account supports micro-lot trading, with a minimum trade size of 0.01 lots, and provides access to 61 currency pairs, 16 commodities, and 16 major indices. There are no restrictions on trading styles, allowing for scalping and hedging. 

2. Raw Spread

The IC Markets review of the Raw Spread Account shows they’re available on both the MT4 and MT5 platforms and cTrader. It is suitable for day traders, scalpers, and those using expert advisors. It provides access to raw interbank spreads received from IC Markets’ liquidity providers, starting from 0.0 pips.

For the MetaTrader platforms, the commission is $3.5 per lot per side, totaling $7.0 per round turn, while for the cTrader platform, the commission is slightly lower at $3.0 per side or $6.0 per round turn. 

The minimum deposit is $200, and the leverage is up to 1:500 for global clients. The Raw Spread Account supports micro-lot trading and allows for 200 open positions on MetaTrader and 2,000 on cTrader. It offers deep liquidity, fast execution, and no restrictions on trading styles. 

3. Raw Spread (cTrader)

The Raw Spread cTrader account is for day traders and scalpers (numerous short-period trades). This account provides traders with some of the most competitive trading conditions in the market. Spreads start at 0.0 pips and offer ultra-fast order execution. 

The commission structure for the cTrader Raw Spread account is set at $3.0 per side for every 100,000 units traded or $6.0 per round turn. It is more cost-effective than its MetaTrader counterparts.  An IC Markets review of this account allows for leverage up to 1:500 for global clients and 1:30 for European clients, with a minimum deposit requirement of $200.

There are no restrictions on trading styles with Level II Pricing and market depth visibility. Trading strategies can be executed with precision and efficiency.  

4. Demo Account

You can open an IC Markets Demo Account in under 30 seconds. It is fully customizable and offers all its trading platforms (MT4, MT5, and cTrader).

After registration, traders can configure their demo account settings similar to their planned live account. You can use the demo account indefinitely and open multiple accounts. Let’s continue with our IC Markets review. 

Platforms Available on IC Markets

Here is an IC Markets review of their four trading platforms. 

MetaTrader 4 (MT4)

MT4 is a popular forex trading platform. It is known for its user-friendly interface, automated trading capabilities, and a vast selection of technical indicators and expert advisors (EAs). IC Markets has enhanced MT4 with features like one-click trading, market depth, and advanced order types.

MetaTrader 5 (MT5)

MT5 is the upgraded version of MT4. It offers improved charting capabilities, support for more asset classes, and advanced programming options. IC Markets provides MT5 with enhancements similar to those of MT4, making it suitable for algorithmic and automated trading strategies.


cTrader is a multi-asset trading platform renowned for its advanced features like depth of market visibility, ladder trading, and ultra-low latency execution. IC Markets’ cTrader integration offers Level II pricing.

Trading View

TradingView is a leading charting and analysis platform integrated with IC Markets’ cTrader accounts. It provides access to advanced charting tools, technical indicators, and a trading community. It supports algorithmic trading and backtesting capabilities.

Final Thoughts: IC Markets Review

Let’s conclude this IC Markets review of this Australian broker for forex and CFDs. The platform may be a little archaic, but its tools are up to the task. Trading CFDs requires a lot of knowledge and a higher risk tolerance.

Fortunately, plenty of tools and platforms are available on IC Markets to give traders a chance to succeed. I suggest using its Demo Account to familiarize yourself with the platform and the assets you will trade.

Unfortunately, CFDs are not available for US and Canadian traders, but they are for many others. IC Markets is well-regulated, so you don’t have to worry about the safety of your funds.

If you want to learn more about profiting from the stock market, head to our free library of educational courses. We have something for everyone, including trading options for those with small accounts.

Frequently Asked Questions

An IC Markets review finds that it's not a scam, but it is reliable. It is well-regulated by many investment commissions.

Unfortunately, IC Markets isn’t available in the US or Canada but in other major markets.

IC Markets’ interfaces are outdated compared to other brokers, and some major assets can’t be traded on the platform (ETFs, stocks, and mutual funds). 

The minimum deposit is $200. 

Related Articles

Pepperstone Review

Pepperstone Review 2024

Our Pepperstone review delves into this Australian online Forex and Contracts for Difference (CFD) broker operating since 2010. On this platform, you can trade Forex

Read More »


If you’ve looked for trading education elsewhere then you’ll notice that it can be very costly.

We are opposed to charging ridiculous amounts to access experience and quality information. 

That being said, our website is a great resource for traders or investors of all levels to learn about day trading stocks, futures, and options. Swing trading too! 

On our site, you will find thousands of dollars worth of free online trading courses, tutorials, and reviews.

We put all of the tools available to traders to the test and give you first-hand experience in stock trading you won’t find elsewhere.

Our content is packed with the essential knowledge that’s needed to help you to become a successful trader.

It’s important to treat day trading stocks, options, futures, and swing trading like you would with getting a professional degree, a new trade, or starting any new career.

Invest the proper time into your Trading Education and don’t try to run before you learn to crawl. Trading stocks is not a get-rich-quick scheme. It’s not gambling either, though there are people who treat it this way. Don’t be that person! 


The Bullish Bears team focuses on keeping things as simple as possible in our online trading courses and chat rooms. We provide our members with courses of all different trading levels and topics.

If you’re a beginner, intermediate level, or looking for expert trading knowledge…we’ve got you covered. 

We have a basic stock trading course, swing trading course, 2 day trading courses, 2 options courses, 2 candlesticks courses, and broker courses to help you get started. Free.

Just choose the course level that you’re most interested in and get started on the right path now. Become a leader, not a follower. When you’re ready you can join our chat rooms and access our Next Level training library. No rush. We’re here to help.

Click Here to take our free courses.