In this new review we’ll show you:

  • How to ensure your trading funds are safe
  • Fees and Features compared with other brokers
  • Leverage and regulation offered
  • Customer reviews from trusted sources such as Trustpilot, Google Play and Apple Store

Plus lots more

4.60/5 from 14,225 IC Markets Customer Reviews

Let’s get started with the IC Markets Review 2023

Before starting the review we would just like to let you know that all brokers signed up to via our Safe Broker Search are eligible for our free aftercare service that will help protect your deposit in case of broker failure.

Additionally, all brokers signed up to via the search are eligible for £85,000 deposit protection provided by FSCS. You simply need to select FCA regulation upon broker signup.


IC Markets is a privately held brokerage, founded in 2007. They are a global broker headquartered in Sydney, Australia with several branches across the globe.

IC Markets offers CFD trading instruments such as currencies, forex, stocks, commodities, futures, bonds as well as digital assets. Traders can enjoy an easy and fast account opening process, free deposit and withdrawal transactions plus low forex fees.

They are regulated in 4 jurisdictions and are regulated by ASIC as well as by CySEC, FSA and SCB.

There are multiple trading platforms such as IC Markets MetaTrader 4, MetaTrader 5 and MT WebTrader. IC markets mt4 and IC markets mt5 are also available for iPhone/iPad as well as for Android and Mac.

Traders can enjoy many educational video tutorials designed for traders of all levels with a step by step guide on the basics of forex, technical understanding, market influences and also fundamental analysis.

User reviews

Before depositing your hard-earned cash, it’s always a good idea to have a look around and see user reviews from other traders. We always suggest that you don’t just rely on a single rating on any review site as they don’t give a proper representation of the company on the whole.

IC Markets averages 4.8/5 with over 12,300 IC Markets Trustpilot reviews

IC Markets also averages 3.8/5 from over 50 IC Markets Google reviews

The FPA scores IC Markets as 3.6/5 from over 1400 IC Markets FPA reviews

The IC Markets Play Store reviews are 3.3/5 from over 130 reviews

The IC Markets App Store reviews average 4.0/5 from over 170 customer reviews 

They also have over 396,500 IC Markets Facebook Likes 

On the whole, IC Markets broker reviews appears to be fairly well respected by the trading community with enough good Trustpilot reviews to be statistically relevant. The Google reviews also seems to score quite well but doesn’t have enough reviews to be certain. 

Overall IC markets broker scores a weighted average of 4.6 from over 14,000 customer reviews.

IC Markets also has a bustling Facebook community with plenty of followers which also usually suggests happy customers.

Funds Safety & Regulation

Funds safety is critical in your trading and it can make or break your financial future. Your level of funds protection will depend on where your regulation is from. Your country of residence does not necessarily define who your regulator will be.


There are many factors that go into determining your regulation. So check with your account manager after you have signed up and before you deposit to determine which body you are regulated with. 

You can usually switch regulation on signup [depending on your country of origin] which can be a good idea if you want to ensure that you get the best regulator that offers the most consumer protection and funds safety. 

IC Markets are regulated in Australia by the Australian Securities and Investments Commission (ASIC) as International Capital Markets Pty Ltd (AFSL No. 335692)

They are regulated in Cyprus by the Cyprus Securities and Exchange Commission (CySec) as IC Markets EU Ltd with License Number 362/18 and registration number 356877. 

They are also regulated in Seychelles by the Financial Services Authority of Seychelles (FSA) as Raw Trading Ltd with a Securities Dealer Licence number: SD018. 

Additionally, they are regulated in the Bahamas by the Securities Commission of The Bahamas as IC Markets Ltd with registration number 76823 C and License No. SIA-F214

If you are regulated in Australia by the Australian Securities and Investments Commission (ASIC) there is no funds compensation scheme available.

If you are regulated in Cyprus by CySec you will have access to funds protection. All CySec regulated brokers must join ‘The Investor Compensation Fund’  which offers a guarantee of funds of 90% of remaining deposit up to €20,000 in case of firm liquidation. 

If you are regulated in Seychelles by the Financial Services Authority of Seychelles (FSA) there is no funds compensation scheme available.

If you are regulated in the Bahamas by the Securities Commission of The Bahamas (SCB) there is no funds compensation scheme available.

The best way to insure your IC markets deposit is to be regulated with CySec to take advantage of their 90% up to €20,000 Investor Compensation Scheme so be sure to request CySec regulation on broker signup.


IC Markets Fees/ IC Markets Commissions

Account operating fee

No account operating fee

Deposit fee

No deposit fee

Inactivity fee

No Inactivity fee

Withdrawal fee

No withdrawal fee

Currency conversion fee

This is at the time of the conversion will take place in accordance with banks currency exchange rate

With regards to spread fees, this will depend on a variety of factors. This will include your account type, the asset that is being traded as well as the times that they are traded as they fluctuate depending on if trading is taking place within or outside standard trading hours. Once again, these trading hours will depend on the asset being traded.

Professional clients are afforded lower spreads than retail clients. But few clients will have the requisite deposit to meet that designation. Also, professional clients will waive their right to any funds protection that will be given to retail clients [regulation dependant].


There is a page with all the spreads of all the tradable instruments and they also have the overnight calculations, inactivity fees and maturity rollover fees.  


It’s impossible to give a definitive answer as to spreads due to the many permutations involved in calculating the spreads so it’s better to get the actual spreads from the website itself.


Your IC Markets leverage will depend on where you are regulated. 

If you are regulated in Australia by The Australian Securities and Investments Commission (ASIC) your maximum leverage will be 1:30 

If you are regulated in Cyprus by The Cyprus Securities and Exchange Commission (CySEC), your maximum leverage will be 1:30

If you are regulated in the Seychelles by Financial Services Authority Seychelles (FSA) your maximum leverage will be 1:500

If you are regulated in the Bahamas by The Securities Commission of the Bahamas (SCB) your maximum leverage will be 1:500. 

In order to get the highest leverage the profile must be under FSA/Global entity.

Bear in mind that your leverage level is often correlated with funds safety. UK and EU regulators generally have lower leverage but you would benefit from much better funds safety levels (€100,000 and €20,000 respectively). If, however, you chose to be regulated offshore or in Australia then no funds protection is offered. So a tradeoff is usually required by you and will depend on how risk averse you are.


One thing to bear in mind is that if you deposit more to get the higher levels of leverage then your funds will still be covered by the state-backed compensation schemes up to the requisite maximums. 


Therefore, trading at an offshore jurisdiction to get more leverage would give you no financial benefit but would carry the risks associated with offshore trading such as lack of compensation schemes, lack of arbitration as well as lack of consumer protection.

Trading Products

IC Markets gives you a variety of options for your investments.

They give access to a wide range of Forex trading, CFD trading, commodity trading, Automated trading as well as currency trading.

They also provide Forex brokerage. IC Markets Stocks are only available on a CFD basis.

Broker Comparison

Before you decide on a broker it’s always a good idea to compare with other similiar brokers to ensure that your broker will deliver what you are looking for.

You can select the brokers below and compare fees and features with other brokers. You can also compare funds safety levels as well as customer reviews from a variety of trusted sources.

By comparing, you have a better idea if this broker is right for you or if another one would be more suited to your requirements.

Selected brokers are added here – Press to compare features and customer ratings


Is IC markets a good broker?

IC Markets scores a weighted average of 4.6 from over 14,000 customer reviews. This would suggest that IC Markets could be considered a good broker.

What is IC Markets minimum deposit?

The minimum deposit at IC Markets is $200.

Can I use IC markets in USA?

IC Markets does not accept US clients as US regulator CTFC prevents US clients from trading outside the US.

How long does IC markets withdrawal take?

Credit / Debit Card withdrawals may take 3-5 business days to reach your credit card. 

Does IC markets give bonus?

IC Markets do not offer a bonus scheme. 

Does IC markets have Nasdaq?

You can trade CFDs on NASDAQ, as well as the ASX, NYSE stock exchanges.

Is IC markets spread betting?

No, it’s not spread betting because spread betting is only provided by FCA regulated brokers. IC markets are not FCA regulated.

Is IC markets legal in India?

IC Markets is legal in India but you may not be able to open an account as The Foreign Exchange and Management Act (FEMA) prohibits Indian residents to trade binary, CFD and forex through online trading portals.

Does IC markets accept South African clients?

Yes IC Markets accepts South African clients.

Is IC markets a regulated broker?

Yes, IC Markets are regulated in Australia by the Australian Securities and Investments Commission (ASIC), in Cyprus by the Cyprus Securities and Exchange Commission (CySec), in The Seychelles by the Financial Services Authority of Seychelles (FSA) as well as in the Bahamas by the Securities Commission of The Bahamas. 

Does IC Markets allow scalping?

Yes, IC Markets allows scalping. They also have guides and webinars on how to successfully scalp.

Is IC Markets FCA regulated?

IC is not regulated by the FCA. The next safest jurisdiction would be CySec so they can avail of the €20,000 funds deposit guarantee. 

Is IC Markets regulated in UK?

No IC Markets is not regulated in UK.

Can I use IC Markets in UK?

Yes you can but you will likely be regulated by CySec or if you choose, one of the offshore locations. 


What is IC Markets Leverage?

IC Markets leverage depends on where you are regulated. For CySec regulated accounts the maximum will be 1:30 whilst for the offshore locations it’s up to 1:500.

Can I use IC market in Malaysia?

Yes, IC Markets Accepts Malaysian Clients.

Is IC markets halal?

You can request an Islamic account at IC Markets. They make Islamic accounts available to any trader who wishes to abide by Sharia Law and remain halal in their trading practice. However, you also need to ensure that your investments are Shariah compliant. You can do this by using a shariah stock screener such as Islamicly or Finispia to determine the stock’s compliance.

Where is IC markets based?

IC Markets Headquarters is in Australia. 


IC Markets is a well-respected broker. They have good customer reviews with  generous ratings from a wide variety of sources scoring 4.6 from over 14,000 customer reviews.

IC Markets are regulated by various regulators in different jurisdictions across the globe. ASIC and CySec are the strongest regulations available to IC Markets customers to hold your funds. So you can be confident in investing and trading your funds here.

Additional information

Company size


Company Type

Privately Held

Google review


Trustpilot review


24H support


Max leverage – Retail 1:


Inactivity fee


Available countries

Albania, Algeria, Andorra, Angola, Antigua and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belgium, Benin, Bhutan, Bolivia, Botswana, Brazil, Brunei, Bulgaria, Burkina Faso, Cabo Verde, Cameroon, Chad, Colombia, Comoros, Congo, Cote d’Ivoire, Croatia, Cuba, Cyprus, Czech Republic, Denmark, Djibouti, Dominican Republic, DR Congo, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Eswatini, Ethiopia, Fiji, Finland, France, Gabon, Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guatemala, Guinea-Bissau, Guyana, Honduras, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Kuwait, Kyrgyzstan, Laos, Latvia, Lesotho, Liberia, Liechtenstein, Lithuania, Luxembourg, Madagascar, Malawi, Malaysia, Maldives, Malta, Marshall Islands, Mauritania, Mauritius, Mexico, Micronesia, Moldova, Monaco, Mongolia, Morocco, Mozambique, Namibia, Nauru, Nepal, Netherlands, New Zealand, Niger, Nigeria, North Macedonia, Norway, Oman, Palau, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Rwanda, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, South Africa, South Korea, Spain, Sri Lanka, Suriname, Sweden, Switzerland, Tajikistan, Tanzania, Thailand, Timor-Leste, Togo, Tonga, Trinidad and Tobago, Turkmenistan, Tuvalu, Uganda, United Arab Emirates, United Kingdom, Uruguay, Uzbekistan, Vanuatu, Vietnam, Zambia