Regulated, Tested, & Trusted
1,279 users chose this broker via ChooseBestBroker
Summary
IC Markets is an Australian broker which is focused purely on low-cost trading for Forex and CFDs.
IC Markets offers a wide variety of products that even includes cryptocurrencies, along with a transparent pricing structure flexible. They offer low spreads, reasonable commissions, and fast trading account setup. Deposits and withdrawals are free and you can choose from multiple payment options.
That said, IC Markets is best fit for traders. If you are a long-term investor, then this broker is not the best fit for you as it doesn’t support trading in stocks, ETFs, or funds. The broker’s MetaTrader-based platforms come with certain limitations in design and advanced functionality compared to modern broker platforms.
Pros & Cons
| Pros | Cons |
| Low fees for Forex & CFD trading | Slow customer support |
| Easy account setup | Limited product selection |
| Free deposits & withdrawals | No two-factor authentification |
Trading fees
IC Markets got famous for its low fees, both trading and non-trading fees. You will not have to worry about inactivity or withdrawal charges as they offer free deposits and withdrawals.
On the other hand, CFD trading fees tend to be on the higher side compared to other brokers (we compared fees to Pepperstone and Vantage brokers).
| Pros | Cons |
| Low trading fees | High CFD financing fees |
| Low non-trading fees | Limited product selection |
| Low forex CFDs fees | – |
Low Forex CFD Fees
IC Markets charges a $3.50 commission per lot per trade on forex CFDs, with spreads starting from 0.0 pips on major pairs like EUR/USD.
No Inactivity or Withdrawal Fees
There are no inactivity or account maintenance fees. Also deposits and withdrawals are free whether you’re withdrawing to your card, e-wallet, or a bank account.
Low Stock CFD Fees
For stock CFD trading, the commission is $0.02 per share, which is one of the lowest fees compared to other brokers.
Deposit & Withdrawal
IC Markets offers free deposit and withdrawals, however, withdrawals can be made only to the same source the deposit was made from.
Withdrawing funds from this broker is free if you are withdrawing money to your credit/debit card, transferring money to your bank account and electronic wallet.
There are many ways to deposit money to your trading account, although some of the deposit options are not available (it depends on your base currency). Most popular funding options offered by this broker are Credit/Debit cards, PayPal, Neteller, Skrill, bank wire transfer, RapidPpay, Klarna.
| Pros | Cons |
| Credit/Debit cards are accepted | Certain restrictions on withdrawals |
| Withdrawals & Deposits are free | – |
| Multiple account base currencies | – |
Safety
IC Markets is a well-known and regulated brokerage established in 2007 in Australia, supervised by multiple financial authorities around the world. The main regulators overseeing its operations are the Australian Securities and Investments Commission (ASIC) in Australia and the Financial Supervisory Authority (FSA) in Seychelles.
Your trading account will be opened under one of IC Markets’ regional entities depending on where you reside. This matters because the level of investor protection and regulation will depend on the entity you open your account with. For example, if you reside in Australia then your account will be opened under International Capital Markets Pty Limited and will be regulated by Australian Securities and Investments Commission (ASIC) (this regulation doesn’t offer any investor protection coverage).
If you reside in any other country (except EU clients) then your account will be opened under Seychelles under Raw Trading Limited and will be regulated by the FSA in Seychelles (also no investor protection coverage).
It’s important to mention that IC Markets is not publicly traded company and they do not release financial statements, which makes it less transparent than its competitors (for example, Interactive Brokers).
Account opening
IC Markets welcomes traders and investors from nearly every part of the world, with only a few exceptions — the US & Canada being the most notable countries not supported.
The minimum deposit to open an account is $200, which is quite reasonable compared to many other CFD brokers that often require deposits of around $2,000.
How to Open an Account
Getting started with IC Markets is very simple and completely digital. The entire registration process takes about 10–15 minutes, after that you only need to wait for approval. In our case, the account was fully verified within one business day.
Here’s what the registration process looks like:
- Enter your email address and phone number;
- Provide your personal information, including your name, date of birth and home address;
- Select your account type and choose your base currency;
- Complete a short questionnaire about your trading experience;
- Verify your identity and residency by uploading documents like a passport or national ID, plus a recent bank statement or utility bill.
Once approved, you can fund your trading account and start trading right away. Usually it takes up to 1 business day to get approved.
Mobile App
IC Markets offers its mobile trading through the mobile app too. Their application runs on MetaTrader 4 (MT4) — one of the most popular trading apps in the world. The platform is available for both iOS and Android.
The design is very clean, intuitive and user-friendly, making it simple to navigate even for beginner traders. Charts are responsive, tools are easy to access, and overall, it’s a smooth experience for traders.
To connect, you’ll need to select the ICMarkets-Live server after downloading the MT4 app. The platform supports multiple languages, though for users in Europe, it’s currently limited to English, French, German, Italian, Portuguese, Russian, and Spanish. On Android devices, you can change the app’s language by changing your phone’s system language.
Login and Security
Security on the mobile app is fairly basic — IC Markets only uses one-step login, which isn’t ideal for account safety. There’s also unfortunately no biometric login option (facial or fingerprint recognition).
Search Functions
The search tools are straightforward and work well. You can find instruments either by searching for the asset name directly in the search bar or by browsing through categories, which makes navigating the app quick and very efficient.
Desktop platform
IC Markets uses MetaTrader 4 for desktop trading, and if you’ve ever tried the web version, you’ll feel right at home. The layout and overall design are practically the same — clean, familiar, and easy to navigate — but the desktop version comes with a few extra tricks.
You still get all the usual order types, plus the trailing stop, which gives you more control when managing open positions. Reports and account details are straightforward to access too. Just head to the “Account History” tab, right-click on any position, and choose “Save as Detailed Report” to get a full summary.
Where the desktop app really pulls ahead is in alerts and notifications. You can set it up to ping you whenever prices hit certain levels, either through email or mobile push notifications — a handy feature that the web platform doesn’t have.
To turn this on, you’ll need to enter your email address and MetaQuotes ID (you’ll find that in the MT4 mobile app under settings). Go to “Tools” → “Options” in the desktop platform, fill in your details, and you’re all set.
| Pros | Cons |
| Clear fees | No two-steps authorization |
| Customization options | Older design |
| Price alerts | – |
Product selection
At IC Markets, trading is limited only to forex and CFDs, meaning you won’t have access to popular instruments like real stocks or ETFs. The broker mainly focuses on forex trading but still includes a good selection of CFDs for diversification.
A standout feature is the ability to adjust the default leverage on your trades. This flexibility lets you manually reduce leverage to manage your exposure and control risk more effectively.
IC Markets also supports social trading through ZuluTrade, a platform that connects you with experienced traders. You can follow their strategies, and their trades will automatically execute in your own account. ZuluTrade’s ranking system, ZuluRank, highlights top-performing traders, while ZuluGuard offers an extra layer of protection by monitoring the volatility of the strategies you copy.