IC Markets Review 2026
True ECN execution with raw spreads from 0.0 pips. $1 trillion+ monthly volume. Four professional platforms. ASIC and CySEC tier-1 regulation.
IC Markets Overview
One of the world's largest ECN brokers by trading volume
IC Markets is an Australian-based true ECN broker founded in 2007 in Sydney. Known for raw spreads starting from 0.0 pips, institutional-grade liquidity, and processing over $1 trillion in monthly trading volume, they serve professional traders globally with ASIC and CySEC tier-1 regulation.
What truly sets IC Markets apart is their trading volume — processing over $1 trillion monthly puts them in the same league as institutional platforms. This massive flow creates self-reinforcing liquidity that keeps spreads tight even during volatile sessions. Their infrastructure investment in Equinix NY4 and LD5 data centers ensures sub-40ms execution for traders worldwide.
Deep Dive Market Position & ECN Advantage Founded in 2007 by Andrew Budzinski, IC Markets has grown from a small Australian broker into one of the world’s largest forex brokers by trading volume. Their focus on true ECN execution and institutional-grade pricing has attracted a loyal following among professional traders, scalpers, and algorithmic trading firms.
What truly sets IC Markets apart is their trading volume — processing over $1 trillion monthly puts them in the same league as institutional platforms. This massive flow creates self-reinforcing liquidity that keeps spreads tight even during volatile sessions. Their infrastructure investment in Equinix NY4 and LD5 data centers ensures sub-40ms execution for traders worldwide.
The broker’s decision to offer four professional platforms (MT4, MT5, cTrader, and TradingView) reflects their understanding that different trading styles require different tools. While MT4 remains dominant for EA traders, cTrader’s advanced order management appeals to manual scalpers, and TradingView integration satisfies chartists who refuse to compromise on analysis tools.
IC Markets represents the gold standard for ECN forex trading. If you’re a serious trader who demands raw spreads, true ECN execution, and deep liquidity, IC Markets should be at the top of your shortlist. The $200 minimum deposit is accessible, and the absence of inactivity fees makes them suitable for traders of all activity levels.
How to Get Started
Register Online
Complete the application form with personal details in minutes.
Verify Identity
Upload government ID and proof of address for KYC compliance.
Fund & Trade
Deposit $200+ via card, bank, e-wallet, or crypto and start trading.
Key Strengths
What makes IC Markets the top choice for professional traders
True ECN Execution
No dealing desk, direct market access to 25+ liquidity providers including JPMorgan, HSBC, Citibank, and UBS.
Raw 0.0 Spreads
Raw spreads from zero pips on Raw Spread accounts. $3.50 commission per lot — significantly below the $7/lot industry standard.
$1T+ Monthly Volume
Institutional-grade liquidity and deep order books. More volume means tighter spreads and better fills.
4 Pro Platforms
MT4, MT5, cTrader, and TradingView integration — one of the most comprehensive platform lineups in retail forex.
Sub-40ms Execution
Equinix NY4 and LD5 data center servers. Free VPS hosting for qualifying traders. Built for algorithmic trading.
2,250+ Instruments
Forex, indices, commodities, crypto, stocks, bonds, and futures — all accessible from a single account.
Deep Dive The True ECN Advantage & Liquidity Moat In a market flooded with brokers claiming "ECN execution," IC Markets is one of the few that actually delivers. Their true ECN model means your orders go directly to liquidity providers without any dealing desk interference — no requotes, no price manipulation, just pure market execution.
IC Markets’ $1 trillion+ monthly volume creates a virtuous cycle: more volume attracts more liquidity providers, which tightens spreads, which attracts more traders. They aggregate prices from over 25 tier-1 banks and liquidity providers including JPMorgan, HSBC, Citibank, UBS, and Credit Suisse. This deep liquidity means you can execute large positions without significant slippage — a critical advantage for professional traders.
IC Markets has invested heavily in trading infrastructure with servers in Equinix NY4 (New York) and LD5 (London) data centers — the same facilities used by major banks and hedge funds. Average execution speed under 40ms and free VPS hosting for qualifying traders demonstrates their commitment to serving algorithmic and high-frequency traders.
Offering MT4, MT5, cTrader, and TradingView under one roof is rare in the industry. This flexibility means you can run your legacy MT4 EAs while also accessing TradingView’s superior charting or cTrader’s advanced order management — all from the same account. IC Markets’ competitive moat is built on genuine execution quality and infrastructure investment, not marketing.
Fees & Spreads
Industry-leading raw spreads with transparent commission structure
Raw Spread vs Standard Account
IC Markets offers two main account structures. Understanding the cost implications is crucial for maximising your trading efficiency.
The cTrader Raw account charges $3/lot per side instead of $3.50, making it the cheapest raw option.
Deep Dive Spread Analysis & Total Cost of Trading IC Markets offers some of the lowest trading costs in the industry. Their Raw Spread account with 0.0 pip spreads plus $3.50 commission per lot is significantly cheaper than the $7/lot industry standard.
The Raw Spread account offers spreads from 0.0 pips plus a $3.50 commission per lot per side ($7 round turn). This structure benefits high-volume traders because the cost is predictable and often lower than spread-only pricing. For example, on EUR/USD: Raw gives ~0.1 pip spread + $7 commission = $8 total cost per lot; Standard gives ~0.8 pip spread with no commission = $8 total cost per lot. The breakeven is similar, but Raw Spread provides tighter entry/exit prices, which matters for scalping strategies.
The Standard account builds the commission into the spread (typically 0.8 pips on EUR/USD). This simplifies cost tracking and may appeal to traders who prefer all-inclusive pricing without calculating commissions.
Zero deposit fees, zero withdrawal fees, and zero inactivity fees make IC Markets exceptionally cost-effective for all trader types. Cryptocurrency deposits are also accepted fee-free. For most active traders, the Raw Spread account offers better value due to tighter execution prices. The Standard account suits beginners who prefer simpler cost structures.
Safety & Regulation
Multi-jurisdiction regulation with ASIC and CySEC tier-1 oversight
ASIC
AustraliaCySEC
CyprusFSA
SeychellesSegregated Accounts
Client funds held separately from company funds with tier-1 banks (Westpac, NAB)
Negative Balance Protection
Account cannot go below zero for EU retail clients under CySEC regulation
€20,000 ICF Coverage
EU clients protected via Investor Compensation Fund under CySEC
17+ Year Track Record
Continuously operating since 2007 with clean regulatory history across all jurisdictions
Deep Dive Regulatory Structure, Fund Segregation & the Seychelles Entity IC Markets operates under a multi-jurisdiction regulatory model that balances client protection with trading flexibility. Their Australian ASIC license (335692) has been active since 2007, providing nearly two decades of regulatory compliance history — an important trust signal in an industry where many brokers come and go.
The CySEC license (362/18) enables IC Markets to serve EU clients with full MiFID II protections, including the €20,000 Investor Compensation Fund coverage, negative balance protection, and leverage caps designed to protect retail traders from excessive risk. Client funds are held in segregated accounts with tier-1 banks including Westpac Banking Corporation and National Australia Bank — legally separated from IC Markets’ operational funds.
IC Markets’ Seychelles entity (FSA SD018) allows them to offer higher leverage (up to 1:500) to non-EU clients. While Seychelles regulation offers less protection than ASIC or CySEC, it’s a legitimate regulatory framework used by many brokers to serve international clients. Professional traders who understand leverage risks often prefer this flexibility.
IC Markets’ 17+ year regulatory history with ASIC and their EU presence via CySEC provides strong assurance of their operational integrity. The multi-entity structure is standard industry practice and allows them to serve different client needs appropriately.
Trading Platforms
Four professional platforms including cTrader and TradingView
MetaTrader 4
4.7Industry-standard platform with extensive EA support and advanced charting capabilities. Largest marketplace of Expert Advisors with maximum stability for automated systems.
- Expert Advisors
- One-Click Trading
- Custom Indicators
- Alert System
MetaTrader 5
4.6Next-generation trading platform with enhanced multi-asset capabilities. 21 timeframes, built-in economic calendar, and improved backtesting.
- Multi-Asset Trading
- Depth of Market
- Economic Calendar
- 21 Timeframes
cTrader
4.8Professional-grade platform with level II pricing and advanced order types. Detachable charts for multi-monitor setups and cAlgo for automated strategies.
- Level II Pricing
- Advanced Charts
- cAlgo Trading
- Detach Charts
TradingView
4.9World-class charting platform with social features and direct trading. Pine Script support, community ideas, and the best charting in retail trading.
- Advanced Charting
- Social Trading
- Pine Script
- Multi-Chart Layouts
Deep Dive Four Pro Platforms: MT4, MT5, cTrader & TradingView IC Markets offers what might be the most comprehensive platform lineup in retail forex. This isn’t just about choice — each platform serves a specific trader profile, and having all four under one broker eliminates the need to split your capital across multiple accounts.
MetaTrader 4 remains the backbone for EA and algorithmic traders with the largest marketplace of Expert Advisors and maximum stability. MetaTrader 5 adds 21 timeframes (vs MT4’s 9), a built-in economic calendar, and improved backtesting. cTrader appeals to manual scalpers and day traders with Level II pricing, depth of market, and detachable charts for multi-monitor setups.
The TradingView integration is particularly noteworthy — IC Markets was among the first major brokers to offer direct trading from TradingView charts. This matters because many traders analyse on TradingView but were forced to execute on separate platforms, creating friction and potential errors. Now you can draw your analysis, set alerts, and execute without leaving TradingView.
This platform diversity means you can run your legacy MT4 EAs while also accessing TradingView’s superior charting or cTrader’s advanced order management — all from the same account.
Account Types
Raw Spread, Standard, and cTrader accounts for different trading styles
Raw Spread (MT4/MT5)
Most Popular- Spreads From 0.0 pips
- Commission $3.50/lot/side
- Min Deposit $200
- Leverage Up to 1:500
- Platforms MT4, MT5
- Best For Scalpers, high-volume
True ECN spreads from 0.0 pips. Low commission structure ideal for active traders and algorithmic strategies.
Standard
Commission-Free- Spreads From 0.8 pips
- Commission None
- Min Deposit $200
- Leverage Up to 1:500
- Platforms MT4, MT5
- Best For Beginners, swing traders
All-inclusive spread pricing with no commission. Simpler cost structure for traders who prefer not to calculate commissions.
cTrader Raw
Lowest Commission- Spreads From 0.0 pips
- Commission $3/lot/side
- Min Deposit $200
- Leverage Up to 1:500
- Platforms cTrader
- Best For Manual scalpers
Lowest commission at $3/lot/side via cTrader. Level II pricing and advanced order management.
EU and Australian retail clients are limited to 1:30 leverage per ESMA/ASIC regulations. International clients via Seychelles can access up to 1:500.
IC Markets Pros & Cons
Balanced analysis of IC Markets' strengths and weaknesses
- Pro: True ECN execution with no dealing desk interference
- Pro: Industry-leading raw spreads from 0.0 pips on major pairs
- Pro: $1 trillion+ monthly trading volume for deep liquidity
- Pro: Four professional platforms: MT4, MT5, cTrader, TradingView
- Pro: ASIC and CySEC tier-1 regulation with segregated funds
- Pro: No deposit or withdrawal fees on any payment method
- Pro: No inactivity fees ever charged
- Pro: Excellent for scalping, day trading, and algorithmic trading
- Pro: Cryptocurrency deposits accepted (BTC, ETH, USDT)
- Pro: Ultra-fast execution under 40ms average
- Con: $200 minimum deposit may be higher than some competitors
- Con: Limited educational content for beginners
- Con: No proprietary trading platform
- Con: Basic research and analysis tools
- Con: No guaranteed stop losses available
- Con: Seychelles entity offers less regulatory protection
IC Markets FAQ
Is IC Markets regulated and safe?
Yes, IC Markets is regulated by ASIC (Australia — License 335692) and CySEC (Cyprus — License 362/18). These are tier-1 regulatory bodies. Client funds are held in segregated accounts with major banks including Westpac and National Australia Bank. EU clients have access to the Investor Compensation Fund with coverage up to €20,000.
What is IC Markets’ minimum deposit?
IC Markets requires a minimum deposit of $200 (or equivalent in other currencies). This applies to all account types including Standard, Raw Spread, and cTrader accounts. There are no differences in minimum deposit requirements between account types.
Is IC Markets a true ECN broker?
Yes, IC Markets operates a true ECN/STP model with no dealing desk intervention. They aggregate liquidity from over 25 tier-1 banks and liquidity providers including JPMorgan, HSBC, Citibank, and UBS, passing orders directly to the interbank market with no last-look execution.
What is IC Markets’ monthly trading volume?
IC Markets processes over $1 trillion in monthly trading volume, making them one of the largest forex brokers globally by volume. This exceptional volume contributes to their deep liquidity pools and consistently tight spreads across all trading sessions.
Does IC Markets support TradingView?
Yes, IC Markets has a direct integration with TradingView, allowing you to trade directly from TradingView’s world-class charting interface. This is in addition to MT4, MT5, and cTrader platforms, giving traders four professional platforms to choose from.
Can I scalp with IC Markets?
Yes, IC Markets is excellent for scalping. There are no restrictions on trading styles including scalping, hedging, or news trading. Their true ECN execution, raw spreads from 0.0 pips, and high-speed infrastructure with Equinix servers make them ideal for high-frequency strategies.
What leverage does IC Markets offer?
IC Markets offers up to 1:500 leverage through their Seychelles entity (FSA). EU clients via CySEC are limited to 1:30 for major forex pairs, 1:20 for minor pairs, and lower for other instruments per ESMA regulatory requirements. Australian retail clients have 1:30 leverage.
Does IC Markets accept cryptocurrency deposits?
Yes, IC Markets accepts deposits in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Crypto deposits are processed after network confirmations and converted to your account base currency. There are no fees charged by IC Markets for crypto deposits.
How fast is IC Markets’ execution?
IC Markets offers ultra-fast execution with servers located in Equinix NY4 (New York) and LD5 (London) data centers. Average execution speed is under 40 milliseconds with minimal slippage due to their deep liquidity from 25+ providers. Free VPS hosting is available for qualifying traders.
Does IC Markets charge inactivity fees?
No, IC Markets does not charge any inactivity fees regardless of how long your account remains dormant. Your account will remain active and fee-free regardless of trading activity, making them ideal for part-time traders.
IC Markets Verdict
Best For
Not Ideal For
IC Markets stands out as a premier ECN broker delivering genuine raw spreads, true ECN execution, and institutional-grade liquidity. With $1 trillion+ monthly volume, four professional platforms, and ASIC/CySEC regulation, they represent the gold standard for serious forex traders who prioritise execution quality and pricing transparency.
Deep Dive Final Assessment: Execution Quality Over Everything IC Markets has successfully positioned themselves as the go-to broker for professional retail traders who demand institutional-grade conditions. Their $1 trillion+ monthly volume isn’t just a marketing number — it translates directly into tighter spreads, better fills, and reduced slippage that active traders can measure in their results.
Three factors give IC Markets a sustainable competitive edge: liquidity depth from 25+ tier-1 liquidity providers creating spreads that consistently beat competitors; infrastructure investment in Equinix data centers with sub-40ms execution attracting algorithmic traders; and platform diversity with four professional platforms under one roof that is unmatched in retail forex.
IC Markets prioritises execution over education. Beginners will find limited educational resources compared to brokers like AvaTrade or IG. The basic research tools mean serious analysts will need to supplement with external services. These are conscious trade-offs that align with their professional trader focus.
IC Markets earns a strong 4.6/5 rating and our recommendation for experienced traders, scalpers, algorithmic traders, and anyone who prioritises execution quality. If you understand what ECN execution means and why it matters, IC Markets delivers.
Ready to trade with IC Markets?
$200 minimum deposit. True ECN execution. Raw spreads from 0.0 pips.
Open IC Markets Account →
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