IC Markets
Best ECN BrokerIC Markets Review: Trading Platforms, Accounts, App, Markets & Fees
Rankly Score
Safety
4.8/5
Cost
4.9/5
Platform
4.9/5
Last Updated
May 2026
Key Facts
Quick Verdict
IC Markets scores 4.7/5 overall, with standout performance in regulation & safety(4.8/5). The broker is Best for Scalping and Best for Gold Trading.
Rankly Score Breakdown
Rankly Score
Weighted from 10 categories
4.8
Safety Score
4.9
Cost Score
4.6
Withdrawal Score
4.9
Platform Score
4.4
Local Support
4.3
Beginner Score
4.8
Advanced Trader
Broker Overview
IC Markets is a Sydney-based True ECN broker founded in 2007, widely regarded as one of the best choices for advanced, algorithmic, and high-frequency CFD traders. Regulated by ASIC and CySEC, IC Markets is known for ultra-tight raw spreads, deep liquidity, and full support for automated trading via Expert Advisors and cTrader Automate. It supports MT4, MT5, cTrader, and a mobile app.
Pros & Cons
Pros
- True ECN execution with institutional-grade liquidity from 25+ top-tier banks
- Ultra-tight raw spreads averaging 0.1 pips on EUR/USD
- Full cTrader support — ideal for traders who prefer this platform
- ASIC and CySEC regulated for high-trust compliance standards
- No restrictions on Expert Advisors or high-frequency strategies
- Advanced copy trading via cTrader Copy and ZuluTrade
Cons
- Higher minimum deposit of $200 compared to some retail brokers
- Limited educational content compared to XM or eToro
- Customer support not available 24/7 on weekends
- No proprietary trading app — relies on MT4/MT5/cTrader apps
Who This Broker May Suit
Who Should Avoid This Broker
Not sure which broker is right for you? Use our broker comparison tool to filter by your trading style, deposit size, and preferred markets.
Account Types
| Account | Min Deposit | Spread | Commission | Leverage | Suitable For |
|---|---|---|---|---|---|
| Standard | $200 | From 1.0 pip | No | Up to 1:500 | Casual retail traders |
| Raw Spread (MT4/MT5) | $200 | From 0.0 pips | $3.50/lot/side | Up to 1:500 | Active traders, scalpers |
| cTrader Raw | $200 | From 0.0 pips | $3.00/lot/side | Up to 1:500 | cTrader users, algo traders |
Safety & Regulation — Entity by Entity
IC Markets operates through multiple legal entities, each regulated by a different financial authority. The entity you trade with depends on your country of residence. This directly affects your investor protection, leverage limits, and compensation scheme eligibility.
ASIC
Licence: ABN 123 289 109 · Australia
CySEC
Licence: 362/18 · Cyprus / EU
FSA
Licence: SD018 · Seychelles (offshore)
Yes — on all retail accounts
Yes — client funds held separately
Up to €20,000 / £85,000 depending on entity
Execution Quality
IC Markets offers True ECN execution with average speed under 0.1 seconds. Liquidity is sourced from 25+ tier-1 banks and institutions. No requotes, no rejection, and no dealing desk intervention. Average slippage on major pairs is near zero. Ideal for scalping and high-frequency strategies.
Execution Model
ECN / STP
Avg. Speed
< 0.1s
Requotes
None
Trading Platforms
MetaTrader 4 (MT4)
Desktop / Mobile / Web
World's most popular retail Forex platform. Full EA support, custom indicators, and expert automation.
MetaTrader 5 (MT5)
Desktop / Mobile / Web
Multi-timeframe, multi-asset platform with integrated economic calendar and strategy tester.
cTrader
Desktop / Mobile / Web
Professional ECN trading platform with Level II pricing, algorithmic trading via cAlgo, and cTrader Copy.
IC Markets Mobile
iOS / Android
Mobile access to MT4, MT5, and cTrader from a single interface. Real-time quotes and order management.
Mobile App Review
IC Markets does not offer a proprietary app but supports native MT4, MT5, and cTrader mobile applications — all available on iOS and Android. The cTrader mobile app is particularly well-reviewed for its clean interface and Level II pricing visibility.
Trading Instruments & Product Range
Forex
60+ pairsEUR/USD, GBP/USD, USD/JPY + 60 currency pairs
Metals (CFD)
4 instrumentsGold, Silver, Platinum, Palladium
Energy (CFD)
3 instrumentsWTI Crude Oil, Brent Crude Oil, Natural Gas
Indices (CFD)
25 indicesS&P 500, NASDAQ 100, DAX 40, ASX 200, FTSE 100
Stocks (CFD)
2100+ CFDsUS, EU, AU shares including Apple, Tesla, HSBC
Crypto (CFD)
25+ crypto CFDsBitcoin, Ethereum, Litecoin, Ripple, Cardano
Fees & Spreads
Min Deposit
$200
Spreads From
0.0 pips (Raw)
Max Leverage
Up to 1:500
Platforms
MT4, MT5, cTrader, Mobile
IC Markets offers competitive spreads across all account types. Raw/ECN accounts provide the tightest spreads with a per-lot commission. Standard accounts are commission-free with slightly wider spreads. All fees are transparent with no hidden charges.
Swap Fees & Overnight Charges
Islamic swap-free accounts available. Standard swap rates are very competitive due to ECN pricing. Index and commodity swaps are moderate. No triple swap on cTrader accounts. Overall swap costs are among the lowest in the industry.
Swap rates are calculated at 22:00 GMT (or 00:00 broker time). Triple swap is charged on Wednesday for FX and metals. Always check the current swap rates on the trading platform before holding positions overnight.
Deposits & Withdrawals
Minimum Deposit
$200 for all account types
Withdrawal Time
Same day for e-wallets; 1-3 business days for bank wire
Fees
IC Markets does not charge deposit or withdrawal fees
Base Currencies
10 base currencies: USD, EUR, GBP, AUD, SGD, JPY, CHF, NZD, HKD, CAD
Accepted Payment Methods
Local Payment Availability
IC Markets supports BPAY and POLi for Australian clients. PayPal is available globally. Crypto deposits in BTC, ETH, and USDT are supported. Local bank transfers available in APAC.
Customer Support
Availability
24/5 (Mon-Fri)
24/5 support via live chat, email, and phone. Support is knowledgeable and technical, particularly for platform-related queries. Response times average under 2 minutes for chat. Weekend support is limited to email.
Support Channels
Education & Trading Tools
Learning Level
Beginner to Intermediate
IC Markets provides trading guides, platform tutorials, and market commentary. The education section is practical and focused on platform usage rather than deep trading strategy. Best for traders who are self-sufficient.
Available Resources
Promotions & Bonuses
No current bonus promotions
IC Markets focuses on raw pricing and execution quality rather than deposit bonuses. Check official site for any current offers.
Terms: IC Markets ASIC entity does not offer bonuses.
Risk Warning: CFD trading involves significant risk of loss. This review is for informational and comparison purposes only. Not investment advice. Past performance does not guarantee future results. Trading CFDs with leverage can result in losses that exceed your initial deposit.
Countries Supported
IC Markets is available to traders in the following regions and countries. Availability may vary depending on the regulatory entity and local laws.
* Country availability is subject to change. Always verify your jurisdiction's eligibility on the broker's official website.
Common Complaints
Based on user-reported feedback and our own research, here are the most common issues raised by IC Markets traders. These are presented neutrally with editorial context.
Some users report that weekend support is limited to email with slower response times.
24/5 coverage standard
$200 minimum deposit is higher than some beginner-focused brokers.
Standard for ECN brokers
Educational content is less comprehensive than competitors like XM or EBC.
Broker targets experienced traders
User Reviews
True ECN execution with institutional-grade liquidity from 25+ top-tier banks
Ultra-tight raw spreads averaging 0.1 pips on EUR/USD
Full cTrader support — ideal for traders who prefer this platform
Alternatives to Consider
If IC Markets doesn't match your trading needs, consider these alternative CFD brokers:
TMGM
#1 by Retail FX VolumeMulti-asset CFD broker with strong institutional infrastructure, ranked #1 by retail FX volume.
Best for
Multi-asset CFD traders seeking deep liquidity
Exness
Top RatedGlobal broker known for ultra-fast execution and transparent trading conditions across Forex and CFD markets.
Best for
Trading app visibility and global brand search demand
EC Markets
Emerging MarketsEmerging-market focused CFD broker offering competitive spreads and multi-asset access across major platforms.
Best for
Emerging-market CFD traders
Quick Comparison Table
| Feature | IC Markets | Industry Avg |
|---|---|---|
| Regulation Score | 4.8 | 4.2 |
| Trading Cost | 4.9 | 4.0 |
| Platform Quality | 4.9 | 4.1 |
| Withdrawal Speed | 4.6 | 3.8 |
| Customer Support | 4.5 | 4.0 |
| Education | 4.0 | 3.9 |
* Industry average is calculated across all 6 brokers reviewed by Rankly. Higher scores indicate better performance.
IC Markets FAQ
Yes. IC Markets routes all orders directly to its liquidity pool comprising 25+ tier-1 institutions. There is no dealing desk intervention on Raw and cTrader accounts.
Source: IC Markets independent review — Rankly
Important Risk Disclaimer
This IC Markets review is produced independently by Rankly for educational and comparison purposes only. It does not constitute financial advice or a recommendation to trade. CFD trading involves a high risk of losing money rapidly due to leverage. A significant percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford the high risk of losing your money. Always read the full terms and conditions on the broker's official website before opening an account.
Data Sources
Affiliate Disclosure
Rankly may receive compensation when you click on links to trading platforms and open an account. This does not influence our independent editorial ratings, rankings, or reviews. We only recommend platforms that meet our strict quality standards. See our full affiliate disclosure for more details.
Risk Warning
CFD trading involves a high risk of losing money rapidly due to leverage. Between 60–80% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford the high risk of losing your money. This content is for educational purposes only and does not constitute investment advice. See our full risk warning.
Broker Entity Disclaimer
IC Markets operates through multiple legal entities regulated in different jurisdictions. The entity you trade with depends on your country of residence. Always verify the specific entity and its regulator on the broker's official website before opening an account.
Country Availability
IC Markets availability varies by country and regulatory entity. This review reflects general availability but may not apply to your specific jurisdiction. Always verify your eligibility on the broker's official website. Country availability is subject to change due to regulatory developments.