IC Markets

Overview

IC Markets is an Australian-founded ECN broker, launched in 2007, that built its reputation on industry-leading spreads. The broker is now one of the largest by trading volume globally and a default recommendation for active scalpers and algorithmic traders who prioritize execution cost over multi-asset breadth.

The broker focuses on doing one thing exceptionally well: cheap, fast forex execution. There's no flashy proprietary platform, no broad multi-asset push — just clean ECN routing on MT4, MT5, and cTrader.

Regulation & safety

IC Markets holds licenses from three jurisdictions: ASIC (Australia) for the Australian entity, CySEC (Cyprus) for EU clients, and FSA (Seychelles) for international clients. ASIC and CySEC are both tier-1 regulators with mandatory negative balance protection and segregated client funds.

The Seychelles entity is less protective on paper but tracks closely with the parent's operational standards. For traders who want the tightest regulatory coverage, the EU or Australian entity is preferable.

Accounts

IC Markets keeps the account structure simple and ECN-focused:

• Standard — spread-only, no commission, minimum $200, EUR/USD ~1.0 pip
• Raw Spread MT4 / MT5 — raw spreads + $3.50 per side commission, minimum $200
• cTrader — raw spreads + $3 per side commission

Fees & spreads

Raw Spread accounts deliver the broker's signature feature: EUR/USD averages 0.6 pips with the $7 round-turn commission. Total effective cost is among the lowest of any retail broker we test. Standard accounts are competitive at 1.0 pip but most active traders should use Raw Spread.

Inactivity fee applies after 12 months. Overnight swaps are average for the industry; on majors they're broadly competitive.

Platforms

Platform coverage is comprehensive on the third-party side:

• MetaTrader 4 — with VPS hosting available for $35/month or free for high-volume accounts
• MetaTrader 5 — full asset coverage, deeper analytics
• cTrader — favored by ECN-style traders for depth-of-market visualization

No proprietary platform. No direct TradingView integration, though bridges exist via third parties.

Asset coverage

Asset breadth is solid for a forex-first broker but narrower than FxPro:

• Forex: 60+ pairs
• Index CFDs (20+ global indices)
• Commodity CFDs (metals, energies, soft commodities)
• Stock CFDs (1,600+ US, EU, AU equities)
• Crypto CFDs (BTC, ETH, plus selected altcoins)

Deposits & withdrawals

Deposits accept bank wire, credit/debit card, PayPal, Skrill, Neteller, and several regional rails. Crypto deposits are accepted via certain entities. Withdrawal processing completes within 1 business day from IC Markets' side.

No internal deposit/withdrawal fees on most methods; PayPal carries a small fee on withdrawals.

Customer service

Support is 24/7 via live chat, email, and phone — IC Markets is one of the few brokers we test with weekend coverage. Response times in our testing averaged under 2 minutes on live chat.

Verdict

IC Markets is the right pick when your single most important variable is cost-per-trade. Raw Spread account spreads are at the tightest end of the industry, and the 24/7 support is a real differentiator. Trade-off: no proprietary platform, no integrated research, no fancy account structure. For pure execution traders, scalpers, and algos — IC Markets is hard to beat.