IC Markets Review
74-89% of retail CFD accounts lose money
Bottom Line
IC Markets is an Australian ECN broker offering extremely tight spreads from 0.0 pips on major pairs. With robust regulation by ASIC and CySEC, multiple trading platforms (MT4, MT5, cTrader), and excellent execution speeds, IC Markets is ideal for active traders and scalpers. However, the minimum deposit of $200 may be too high for complete beginners.
Pros
- Extremely tight spreads from 0.0 pips
- Fast execution with no requotes
- Strong regulation (ASIC, CySEC)
- Multiple platform options (MT4, MT5, cTrader)
- Scalping and hedging allowed
- Wide range of instruments (232+ pairs)
Cons
- $200 minimum deposit (higher than competitors)
- Commission-based accounts (not spread-only)
- Limited educational resources
- No proprietary trading platform
Rating Breakdown
Detailed Review
Trading Costs & Fees
| Instrument | Spread (Raw) | Commission |
|---|---|---|
| EUR/USD | 0.1 pips | $3.5/lot |
| GBP/USD | 0.2 pips | $3.5/lot |
| USD/JPY | 0.1 pips | $3.5/lot |
| Gold (XAU/USD) | 0.10 pips | $5.5/lot |
Account Types
Raw Spread
- • Min: $200
- • Spread: From 0.0 pips
- • Commission: $3.5/lot
- • Best for: Scalpers
Standard
- • Min: $200
- • Spread: From 1.0 pips
- • Commission: $0
- • Best for: Beginners
cTrader
- • Min: $200
- • Spread: From 0.0 pips
- • Commission: $3/lot
- • Best for: Advanced traders
Trading Platforms
IC Markets offers three professional trading platforms:
- MetaTrader 4: Industry standard with excellent charting and EAs
- MetaTrader 5: Advanced features, more timeframes and indicators
- cTrader: Modern interface with advanced order types and depth of market
Safety & Regulation
IC Markets is regulated by:
Client funds are segregated in tier-1 banks and negative balance protection is provided.
Final Verdict
IC Markets is an excellent choice for serious forex traders who prioritize tight spreads and fast execution. The broker excels in providing institutional-grade trading conditions with strong regulation and reliable platforms. While the $200 minimum deposit and commission structure may not suit absolute beginners, experienced traders will appreciate the professional-grade infrastructure and competitive pricing.