IC Markets

IC Markets is a popular choice for traders at all levels, including beginners and micro-traders, and it is possible to open positions from 0.01 lots here. However, the minimum deposit is 200 USD, which is significantly larger than what many of the competitors require. For some of my friends that are just starting out trading forex as a fun hobby, depositing 200 USD with a broker they have never used before is simply too much. Only you yourself can decide if this comparatively high threshold is a deal-breaker or not – it is a matter of not just bankroll size but also preferences.

With that said, there are many things to like about IC Markets, including the range of well-known third-party trading platforms. With IC Markets you get access to cTrader, MetaTrader 4 (MT4), MetaTrader 5 (MT5), and ZuluTrade, plus the IC Social App – IC Markets very own app for social trading and copy trading.

We can use IC Markets to speculate on forex, cryptocurrency, stocks, stock indices, bonds, commodities, and futures. The assortment includes over 60 different forex pairs, which is a big plus for forex speculators looking for exotic pairs.

IC Markets have been around since 2007 and is considered one of the pioneers in its field. Back in the day, it was known as International Capital Markets; a name that was later shortened to just IC Markets. In an average trading day, over half a million trades are carried out through this broker, by clients located in over 200 different countries globally.


What type of broker is this?

  • IC Markets offers ECN pricing and utilizes external liquidity providers.
  • There is no dealing-desk.
  • All positions are filled using live-streamed pricing.
  • Servers are located in London and New York.
  • IC Markets is known for their low latency connections.
  • During testing, the average execution speed was 35 milliseconds for popular forex pair speculation.(Anything under 100 milliseconds is considered fast.)


IC Markets operate through various subsidiaries around the world, in order to comply with local laws and licence requirements.

Does IC Markets have license from any of the European Union membership countries?

Yes, IC Markets (EU) Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 362/18. The company has an office in Limassol.

Since Cyprus is a EU country, the company also has to adhere to EU regulation, including the European Markets in Financial Instruments Directive (MiFID).

Client funds are strictly segregated from company funds.

Non-professional traders are provided with negative balance protection. If this pertains to you, make sure you know how this works before you start trading.

Is IC Markets licensed in Australia?

Yes, International Capital Markets Pty Ltd is regulated by the Australian Securities and Investments Commission (ASIC), license number 335692. The company has an office in Sidney.

Client funds are strictly segregated from company funds.

Non-professional traders are provided with negative balance protection. If this pertains to you, make sure you know how this works before you start trading.

Where is IC Market Global regulated?

IC Market Global is regulated by the Financial Services Authority of Seychelles (FSA), license number SD018. This country is more relaxed in their approach to brokers than places such as the European Union, Australia and the United Kingdom. The Seychelles does for instance not have the same low leverage caps in place for non-professional traders.

Address: Eden Plaza, Office 222, Eden Island, Mahe, Seychelles

No inactivity fee

Unlike most other brokers, IC Markets do not charge any inactivity fee. This means that if you want or need to take a break from trading for a while, for whatever reason, you do not have to worry about being penalized for it. I wish more brokers would adopt this model, or at least extend the amount of time that can pass before an account is declared inactive. There are many good reasons to take a break from trading now and then, and traders should – in my opinion – not be urged to return until they are ready.

Several different account types to chose from

There are several different account types available, so you can pick the one that suits your trading strategy and platform preferences best.

Regardless of which account type you pick, you get access to the same base currencies.

Standard MetaTrader Account

This is the most common account type and it is especially popular among beginners and small-scale traders who appreciate not having to pay any commissions. (Fixed commissions can drain your profits quickly if you are a small-scale trader.)

Instead of making money from commissions, the broker makes money from the spreads when you use this account type. If really tight spreads is more important for your strategy than commission-free trading, this is probably not the right account type for you.

Spreads: From 0.6 pips

Commission: Zero

Maximum open orders: 200 orders

Server location: New York

Raw Spread MetaTrader Account

This account type has become especially popular among traders who do scalping and similar fast-paced day trading. You get access to low spreads (from zero pips) but will pay a 3.50 USD commission per side. The average spread on EUR/USD is just 0.1 pips and the average spread for GBP/USD is around 0.2 pips.

Spreads: From 0 pips

Commission: 3.50 USD per lot, per side

Maximum open orders: 200 orders

Server location: New York

Tip! Many traders pick this account type for automated fx robot trading on MetaTrader (using Expert Advisors / EAs).

Raw Spread cTrader Account

This account type is very similar to the Raw Spread MetaTrader Account, but is for the platform cTrader. Just as with the Raw Spread MetaTrader Account, you get access to spreads from 0 pips and really tight average spreads.

Spreads: From 0 pips

Commission: 3 USD per $100,000 traded

Maximum open orders: 2,000 orders

Server location: London

Can I get a swap-free account?

Yes, it is possible to sign-up for swap-free account. (This account type is also known as Muslim / Islamic / Sharia / Halal account.) A swap-free version of each of the three account types listed above is available.

Forex speculation at IC Markets

IC Market has become very popular among forex traders looking for more exotic currency pairs, because over 60 different currency pairs are available for speculation here. This means that in addition to majors and minors, you will also find a lot of exotic pairs here.

Examples of available currency pairs:


Minium trade size

The minium trade size is just 1 micro lot, which is appealing to micro-traders.


A lot of the forex speculation at IC Markets takes place using Contracts for Difference (CFDs). CFDs make it easy to gain exposure to currency exchange rates without actually having to buy, own and sell currency. IC Markets offers leverage for fx CFD trading.

Can I speculate on cryptocurrency at IC Markets?

Yes, over 20 different cryptocurrencies are available for speculation here. You can for instance gain exposure to Bitcoin, Litecoin, Ripple, and Ether.

Speculating on other assets

In addition to currency and cryptocurrency, you can use IC Markets to gain exposure to stocks, bonds, stock indices, commodity prices, and futures. In total, thousands of assets and products are available for speculation through Contracts for Difference (CFDs). Exactly what you get access to vary somewhat depending on your jurisdiction.

Stocks and stock indices

Well over 2,000 company shares are available for speculation. They are listed at various exchanges around the world and the assortment span many different industries. You can for instance get exposure to GameStop, Shell, and Deutsche Bank. Examples of available stock indices are S&P 500, FTSE 100, ASX 200, and Italy 40.


At the time of writing, nine government bonds are available, including the famous UK Gilt and US Treasury 5-year bond.


Chose among 20+ different commodities. Both energy, metal and agricultural commodities are included, e.g. crude oil, gold, silver, and coffee.


So far, only four global futures have been made available at IC Markets: Brent Crude oil, WTI Crude oil, CBOE VIX Index, and the ICE Dollar.


How much leverage you can get depends largely on your jurisdiction and trader classification. When IC Markets are not limited by laws and licence requirements, they offer up to 1:500 in leverage.

If you are classified as a non-professional trader, laws and licence requirements will cap your leverage in many jurisdiction. You can for instance not expect to get more than 1:30 leverage in the UK and the European Union, and for some trades that are considered especially risky (e.g. cryptocurrency speculation) the cap is even lower than that.

For information about what is required to be re-classified as a professional trader, contact the IC Markets support team.

Margin calls

The margin call level is 100% and the stop-out level is 50%.

There is a margin calculator on the IC Markets web site.


IC Markets is an excellent choice if you want to have access to three of the largest and most well-known third-party trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.

If you have previous trading experience, you might already be familiar with one or more of these giants, making the switch to IC Markets even easier.

A downside with these platforms is that they are advanced platforms with a myriad of features and tools, and it can be a tad overwhelming at first, especially for a novice trader. Some traders prefer to start with a basic and more minimalist proprietary trading platform, but that is not possible with IC Markets.

Regardless of which platform you pick, it is:

  • Available for download, so you can install the software on your computer.
  • Available for use directly in the web browser, no download required.
  • Available as mobile apps for both iOS and Android.

MetaTrader 4 (MT4)

The MT4 is a bit more focused on forex than the other two, but this is not a platform exclusively for forex.

4 pending order types

You can use Expert Advisors (a type of trading robot) for automated trading.

3 chart types, 9 time frames, 30+ technical indicators

MetaTrader 5 (MT5)

Is similar to MT5, but was designed to be a bit broader when it comes to assets and has also been filled with even more tools for technical analysis, including more chart types, 21 time frames, and 38 technical indicators. It also comes with 6 pending order types instead of just 4.

Just as with the MT4, you can use Expert Advisors (a type of trading robot) for automated trading on the hnj.


This platform comes from another developer than the MT-platforms and has a different interface. It has a huge toolbox for technical analysis, including 8 chart types, 54 time frames and 70 technical indicators. It also comes with a bunch of other nifty features, such as advanced order protection.

Social trading and copy trading with the IC Social App

IC Markets has launched a separate app for traders who wish to be a part of the IC Markets trading community and/or engage in copy trading. It is called the IC Social App, and it will – among other things – give you access to entry and exit signals.

The app is available for both iOS and Android.

Using ZuluTrade for social trading and copy trading

IC Markets has formed a partnership with the well-known social trading and copy trading platform ZuluTrade. As an IC Market trader, you can use ZuluTrade for social trading and copy trading.

Get a free IC Markets demo account

If you want to check out what IC Markets has to offer without risking any real money, I strongly recommend you sign up for a free demo account. That is also a great way learn how the different platforms work without putting any real money on the line.

Filling out the application and getting started only takes a few minutes, and you do not have to make any deposit to get access to the free demo account.

  1. Go to the IC Markets web site.
  2. Select “Try A Free Demo” from the header.
  3. Enter the required personal details, such as name, email address, mobile phone number, and country of residence.
  4. Chose “Submit” to send in the application. This will activate the automatic login to the client area.
  5. Make your choices regarding account type, currency, which trading platform you want to start exploring, leverage, and amount of play-money (virtual funds). The standard amounts are $5 million in play-money and 1:500 in leverage.
  6. Select “Proceed”.
  7. Log-in credentials will be sent to the email address you provided.
  8. Go to the platform you picked (download it if you want to) and sign-in.

How to open a real-money account at IC Markets

Opening a real-money account with IC Markets is not complicated.

  1. I went to the IC Markets site.
  2. I filled out the application form. The form is divided into separate sections for personal details, about yourself, and account configuration.
  3. I agreed to the terms and conditions.
  4. I added a security question.
  5. I reviewed the account details, before hitting “Submit” to send-in the application form.
  6. Log-in credentials were sent to the email address I had put on the application form.
  7. I could log in and start using the demo account.

IC Markets Forex Tools

Once you have an IC Markets account, you will get access to a toolbox filled with additional forex tools which can be integrated into the platform of your choice. Enjoy 20 different features, such as sentiment trader, mini terminal and correlation matrix.

Educational resources

If you want to become a better trader, IC Markets is offering a wealth of educational resources for various levels. You will for instance get access to videos, webinars, tutorials, blogs, and pod casts.

I point where I feel IC Markets could really improve is the labelling. I did not find any way to filter the material based on level (beginner, intermediate, etc). When you have this much material available, you really need to give the users hands-on ways of sorting through it.

News from Bloomberg

IC Markets have partnered up with Bloomberg to provide traders with overviews of market events and financial activities.

Trading hours

Trading hours will vary depending on the underlying asset. Trading hours for each product are listed on the IC Markets site.

The IC Markets server is set on the GMT +2 time zone.

Forex trading is typically available from 00:01 to 23:59 GMT +2 Monday through Thursday, and then from 00:01 to 23:57 GMT +2 on Friday.

Customer support

Quite a few brokers close their support during the weekend, but IC Markets keep their support open 24/7 which is something that I really appreciate. I do quite a lot of cryptocurrency speculation in addition to the more traditional forex speculation, and cryptocurrency speculation is available even during the weekends. Therefore, I prefer brokers where I can reach the support even during the weekend. For certain issues, waiting until Monday is not an appealing thought.


+248 467 19 76

This is a phone call to the Seychelles.

Call-back service is available. Send a message to IC Markets and ask them to call you. That way, you do not have to worry about the cost of calling the Seychelles or risk getting stuck waiting a long time.



Live chat

Regrettably, the live chat always start with me having to chat to a chat robot, and this chat robot is not a high-quality support robot. The bot is not good at resolving issues, and it just feels like a giant waste of time. Once I get pass the robot and is connected to a human, the IC Markets support service has always been great.

In essence, questions that are so simple that the bot can answer them are issues that you could have solved on your own by simply visiting the FAQ hub.

Deposits and withdrawals

A big deposit is required

The minimum deposit is 200 USD. For many beginners, this is too much. (Fortunately, there are other brokers available. You can for instance go to XM and get started with a 5 USD deposit.) There are also quite a lot of more experienced traders that are hesitant to do a 200 USD deposit as their very first deposit with a broker. They prefer to do a small deposit first, check out the broker and then deposit more if they have a good experience.

Transaction methods

IC Markets accept a wide range of transaction method types. You can for instance use a selection of debit/credit cards, e-wallets and wire transfer. Since IC Markets is active in many different parts of the world, they accept a lot of local transaction methods.

Examples of accepted transaction methods that are well-known internationally:

  • VISA (USD, JPY, EUR, NZD, SGD, GBP, AUD, and CAD) Instant processing.
  • MasterCard (USD, JPY, EUR, NZD, SGD, GBP, AUD, and CAD) Instant processing.
  • Klarna (USD, GBP). This method is not for instant processing. Expect up to two bank days of processing time. Klarna is chiefly used in Europe, but exists in a few other parts of the world too.
  • Rapidpay (EUR, GBP). This method is not for instant processing. Expect up to two bank days of processing time.
  • Skrill (USD, EUR, GBP, SGD, JPY, and AUD) Instant processing.
  • Neteller (USD, EUR, GBP, SGD, JPY, CAD, and AUD) Instant processing.
  • PayPal (USD, JPY, EUR, NZD, AUD, SGD, GBP, CAD, HKD, and CHF) Instant processing.
  • Bank wire transfer (USD, JPY, EUR, NZD, AUD, SGD, CAD, CHF, and GBP). This is a slow method. Allow for at least 2-5 days of processing time.
  • Broker-to-broker transfer (USD, JPY, EUR, AUD, NZD, SGD, CAD, CHF, HKD, and GBP). This is a slow method. Allow for at least 2-5 days of processing time.

Examples of accepted transaction methods that are more local:

  • POLi (AUD) Instant processing.
  • UnionPay (RMB) Instant processing.
  • Vietnamese Internet Banking (USD) Instant processing.
  • Thailand Internet Banking (USD). Normally 15-30 minutes of processing time.
  • Bpay (AUD). This method is not for instant processing. Expect at least 12 hours of processing time.

Deposit and withdrawal fees

IC Markets do not charge deposit fees or withdrawal fees. This is a big plus, especially for traders who do frequent transactions.

How to make a deposit

Depositing money into my IC Markets account has been easy. I have been using my VISA card since that is one of the methods suitable when you want instant processing.

  1. I log in to the secure client area of IC Markets.
  2. I select “Deposit” in the side menu.
  3. I select the payment method from the list.
  4. I fill out the required information. Since I am using VISA, it will be credit card information, but exactly what you need to fill in here depends on which method you are using.
  5. A enter the amount I wish to deposit.
  6. I select “Proceed” to continue.
  7. I review the transaction details before confirming them by selecting “Confirm”.


Withdrawal requests are typically processed by IC Markets within 24 hours.

If IC Markets receives your request before 12 p.m. GMT +2, you can expect it to be processed before that working day is over.

As always, exact withdrawal time will not only depend on the broker, but also on the transaction method.

Base currency for your account

Ten currencies are available as base currency, including EUR, GBP and USD.

Questions and answers

Is scalping prohibited?

No, this broker has not banned scalping.

Is hedging prohibited?

No, this broker has not banned hedging.

Is netting prohibited?

No, this broker has not banned netting.

How big is the IC Markets welcome bonus?

IC Markets does not offer any welcome bonus.

What is Raw Trader Plus?

The Raw Trader Plus is a program (similar to a VIP-club) for high-volume traders. Commission rebates are available with the ‘Raw Trader Plus’ program. The be eligible, the minimum trade volume is 100 lots in the basic account.

As a member of Raw Trader Plus, you can also be offered other perks, e.g. VIP customer support and free Virtual Private Server (VPS) service.

Can I get VPS even if I don’t qualify for the Raw Trader Plus program?

A Virtual Private Server (VPS) is available for free if you trade a minimum of 15 lots per month. IC Markets provides third-party connections to Forex VPS, Beeks FX, or NYCServers.

What time zone is the IC Markets server on?

The IC Markets server uses the GMT +2 time zone.