IC Markets Review 2026: Raw Spreads, Regulation and Fees

IC Markets is one of the largest forex and CFD brokers. Founded in Sydney, Australia in 2007, it is popular with scalpers, day traders and algorithmic traders (Expert Advisors) thanks to its Raw Spread pricing — spreads from 0.0 pips plus a fixed commission — and its MetaTrader and cTrader platforms.

Which IC company you trade with depends on where you live. EU and EEA residents are served by IC Markets (EU) Ltd, regulated by CySEC (licence 362/18). Clients outside the EU are served by offshore entities such as Raw Trading Ltd (FSA Seychelles). IC Trading is a separate brand of Capital Point Trading Ltd, licensed in Mauritius (FSC) — it is not an EU-regulated company. We checked commissions, leverage and fees on IC Markets’ EU website (25 October 2026).

1. Which IC Markets company? Regulation & security

Fund security is the cornerstone of any offshore broker evaluation. Over the years, IC Markets relied heavily on its top-tier Australian license, but regulatory changes prompted a geographical diversification that provides global traders with tailored flexibility.

Licenses and Fund Protection:

• ASIC (Australia): The native, strict regulatory body for International Capital Markets Pty Ltd. Requires strict capital adequacy and segregated client funds.
• CySEC (EU) — IC Markets (EU) Ltd: serves EU and EEA clients under MiFID II and ESMA rules (CySEC licence 362/18): retail leverage up to 1:30, negative balance protection and membership of the Investor Compensation Fund (up to €20,000). According to the broker, 73.46% of retail investor accounts lose money when trading CFDs with IC Markets (EU) Ltd.
• FSA (Seychelles) — Raw Trading Ltd: serves clients outside the EU and Australia with higher leverage, but without EU investor compensation. IC Markets states that EU residents cannot open accounts with this entity.
• IC Trading (Capital Point Trading Ltd): a separate brand licensed by the Financial Services Commission of Mauritius. It is not authorised in the EU and does not provide EU investor protection.

IC Markets states that client money is held in segregated accounts, separate from the company’s own funds. Protection levels (compensation schemes, leverage limits) differ by entity, so always check which company your account is opened with.

2. Trading Instruments: Forex, Crypto, and CFDs

IC Markets offers a broad range of CFDs across several asset classes:

• Forex: the broker’s core market — major, minor and exotic currency pairs with Raw spreads from 0.0 pips.
• Indices and Commodities CFDs: A comprehensive list of global indices (S&P 500, DAX) traded with minimal spreads, alongside spot metals (Gold, Silver) and energies.
• Cryptocurrencies: Trade major digital assets like Bitcoin and Ethereum as CFDs 24/7. While not as extensive as a dedicated crypto exchange, it perfectly serves fiat traders looking for crypto exposure.
• Stock and Bond CFDs: A massive selection of global equities. Keep in mind that you are trading leveraged Contracts for Difference, not purchasing the underlying physical shares.

3. Account Types: Raw Spread vs. Standard

The magic of IC Markets lies in its cost-transparent, professional account structure, devoid of dealing desk intervention or requotes.

• Raw Spread Account (cTrader): The holy grail for professionals. You receive direct market spreads, which average 0.0 pips on EUR/USD during liquid hours. The commission is incredibly competitive: just $3.00 per standard lot per side ($6.00 round turn).
• Raw Spread Account (MetaTrader): Identical ultra-tight interbank spreads starting from 0.0 pips, but the commission is the industry standard $3.50 per side ($7.00 round turn).
• Standard Account: A classic zero-commission account where costs are embedded into the spread (averaging around 0.6 – 1.0 pips on EUR/USD). This is ideal for long-term swing traders who prefer not to calculate separate commission fees.

4. Fee Structure: Commissions, Spreads, Deposits & Withdrawals

IC Markets’ fee schedule has disrupted the retail brokerage industry for years. It is incredibly cheap to maintain an account here.

5. Trading Platforms: MT4, MT5, and cTrader

Technology and latency are where IC Markets refuses to compromise. By hosting their servers in the Equinix NY4 (New York) and LD5 (London) data centers, they ensure lightning-fast fiber-optic cross-connects to their liquidity providers.

• MetaTrader 4 (MT4): Still the absolute favorite for algorithmic traders. IC Markets imposes zero trading restrictions—no minimum order distance and a freeze level of 0, meaning you can place stop losses directly inside the spread. Perfect for scalping.
• MetaTrader 5 (MT5): The modern successor, offering better charting timeframes, an advanced strategy tester, and a broader range of stock CFDs.
• cTrader: The ultimate platform for manual day traders. It features genuine Level 2 Market Depth (showing available volume at each price level), intuitive one-click trading, and the cheapest commission tier available at IC Markets ($3.00 per side).

6. Summary: Pros, Cons, and ForexRev Verdict

7. How to open a IC Markets account — step by step

1. Register on the IC Markets website — EU clients should be served by an EU company: IC Markets (EU) Ltd — CySEC licence 362/18. Check the company name in your client agreement before depositing.
2. Enter your personal details and complete the questionnaire. Before offering CFDs, an EU broker must assess your knowledge and experience (the MiFID II appropriateness test) and warn you if CFDs are not appropriate.
3. Verify your identity with a passport or ID card and a proof of address (e.g. a utility bill or bank statement), as required by anti-money-laundering rules.
4. Choose the account type and base currency. An account in the currency you deposit in saves conversion costs.
5. Fund the account — minimum deposit according to the broker: $200 (or equivalent in base currencies like EUR, GBP, AUD). Deposits are accepted only from accounts or cards in your own name; available methods: IC Markets does not charge its own deposit fees for most methods (cards, bank transfer, e-wallets).
6. Log in to the trading platform in your browser or the mobile app. Before investing a larger amount, test how orders work with a small trade or on a demo account, if the broker offers one.

8. What trading with IC Markets really costs

Below are the costs from the summary table above — taken from IC Markets’s website and documents when we updated this review:

• Deposit Fees: IC Markets does not charge its own deposit fees for most methods (cards, bank transfer, e-wallets); available methods depend on your entity and country, and your bank may charge.
• Withdrawal Fees: Standard withdrawals are free. (Note: Your own bank may charge intermediary fees for international SWIFT wires).

How to work it out: on EUR/USD one pip on a 1-lot position (€100,000) is worth about $10, so a 1-pip spread costs about $10 when you open the trade. A commission quoted “per lot per side” is charged twice — on opening and on closing. Add overnight swaps for every night the position stays open and any currency conversion if your account currency differs from the instrument’s. On 0.1 lot all these amounts are ten times smaller.

Inactivity fee: IC Markets (EU): 10 in the account currency per month after 6 months without any trade (no fee while you hold open positions; policy of March 2025). If you plan a long break from trading, withdraw your funds or close the account so the fee does not eat into your balance.

9. Withdrawing money from IC Markets — how it works

You request a withdrawal in the client area. Under anti-money-laundering rules, funds usually go back via the method used to deposit (e.g. to the card up to the amount deposited by card) and only to an account or card in your own name. The first withdrawal may require full account verification, so upload your documents right after registering. Only free funds that are not used as margin can be withdrawn.

10. IC Markets compared with other brokers

For comparison, here is IC Markets next to other brokers whose reviews we updated in October 2026. Figures come from their summary tables — see the full reviews for details.

11. Leverage and client protection in the EU (ESMA)

As an EU investment firm, IC Markets applies the restrictions introduced by ESMA and adopted permanently by national regulators to retail clients:

• leverage up to 1:30 on major currency pairs, 1:20 on other pairs, gold and major indices, 1:10 on other commodities and indices, 1:5 on shares and 1:2 on crypto;
• margin close-out at 50% of required margin;
• negative balance protection — retail clients cannot lose more than they deposited;
• a ban on bonuses and trading incentives for retail CFD clients;
• a mandatory risk warning with the share of losing retail accounts — for IC Markets: —.

Higher leverage is only available to professional clients who meet the MiFID II criteria — at the cost of some protections, including negative balance protection.

12. Tax on profits from IC Markets

Tax treatment depends on your country of residence. IC Markets generally does not file tax returns for you, so keep the annual statement of trades from the client area. For Polish residents: profits from a foreign broker are reported in the PIT-38 return (19% tax), with foreign-currency amounts converted at the National Bank of Poland average rate from the business day before each trade.

13. Glossary: terms to know before opening a IC Markets account

• Spread — the difference between the buy and sell price, paid on every trade.
• Pip — the smallest typical price move of a currency pair (0.0001 for EUR/USD).
• Lot — the standard position size: 1 forex lot is 100,000 units of the base currency; 0.01 lot (micro lot) is 1,000.
• Commission — a fixed fee per trade, usually on raw-spread (ECN/Raw) accounts.
• Swap — the daily cost or credit for holding a position overnight, based on the interest-rate differential.
• Margin — the part of the position value set aside as collateral; at 1:30 leverage about 3.33% of the position.
• Margin call and stop out — a warning and automatic closing of positions when equity falls relative to required margin.
• Slippage — execution at a different price than requested, common around news releases and price gaps.

14. FAQ – Frequently Asked Questions

Legal Disclaimer: Leveraged financial products, such as CFDs and Forex, carry a high level of risk and can result in the rapid loss of your entire deposited capital. 73.46% of retail investor accounts lose money when trading CFDs with IC Markets (EU) Ltd (broker data, October 2026). The information provided in this review is for educational and informational purposes only, based on the subjective analytical methodology of the ForexRev editorial team. It does not constitute binding investment advice or a financial recommendation. The ForexRev team accepts no liability for any trading losses incurred. Always perform your own Due Diligence before registering with any broker.

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