IC Markets Review 2019 | Is IC Markets a Scam or Legit Forex Broker?

Read our IC Markets review to find out if IC Markets is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.3/ 5

Rating breakdown

Protection & Regulations
60% Complete (danger)
Trading platforms
60% Complete (danger)
Tradable Products
100% Complete (danger)
Deposit and withdrawal
90% Complete (danger)
Trading Fees
20% Complete (danger)
60% Complete (danger)
# Broker's Features IC MARKETS Availability
# Commissions
# Hedging
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review IC Markets.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. IC Markets offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Bonds, Cryptocurrency, Futures.

Tradable Products: At IC Markets, clients can trade more than 236 Forex, CFD and Futures markets across 60 Currency pairs, 120+ Shares, 17 Indices, 4 Futures, 19+ Commodities, 6+ Bonds and 10 Cryptocurrencies.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. IC Markets is ECN, STP.

Features: Trading Features: IC Markets offers additional trading products such as social trading integration with ZuluTrade and MyFXbook, as well as an Advanced Trading Tools package for MetaTrader 4.

Executing Trades:

IC Markets allows you to execute a minimum trade of 0.01. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As IC Markets offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades. IC Markets also offers a number of useful risk management features, such as Negative Balance Protection, price alerts and much more.

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. IC Markets recommended minimum capital is $200.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. IC Markets is regulated by ASIC, CySec, FSA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor Protection & Regulations: IC Markets offers regulatory oversight from the Australian Securities and Investments Commission (ASIC) and the Seychelles Financial Services Authority (SFSA), as well as transparency on their auditing, insurance and banking relationships. On the flip side, it does not provide investor protection and negative balance protection.

Account currencies: Next lets consider the Account currencies each broker offers. IC Markets offers AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHF different account currencies for each account types.

Account Openning: The account opening at IC Markets is user-friendly and fully digital. It was also very fast, it took only 1 day until our account was approved.

IC Markets offers a demo account for practicing trading skills and get familiar with the broker’s trading platform.

Languages Available: Next lets have a look at each broker's different Language options. IC Markets offers English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German.

Payment methods: Next lets have a look at each broker's payment options. IC Markets offers Credit/Debit Cards, Moneybookers, Neteller, PayPal, Skrill, Wire different payment methods for each account types.

Deposit and withdrawal: IC Markets does great at deposit and withdrawal. There are no fees for deposit and withdrawal. You can also use a lot of options for transferring money. IC Markets offers over 15 funding options in 10 different base currencies using the likes of credit and debit cards, PayPal, Neteller, Skrill, Union Pay, Bpay, FasaPay and many more.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, IC Markets makes MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader available to clients.

Web & Desktop Trading Platforms: IC Markets offers an impressive suite of trading platforms for Web and Desktop including cTrader, cTrader Web, cTrader Algo, MetaTrader 4, MetaTrader 5, MetaTrader Web and MetaTrader 4 and 5 for Mac.
Mobile Trading Platforms: IC Markets offers browser-based mobile trading as well as iOS and Android trading apps for both the MetaTrader and cTrader platforms.


Trader Education
IC Markets offers a wide range of educational resources such as a Forex Trading 101 and Technical Analysis 101 section, as well as videos and much more.

Currently, IC Markets do not have any bonus or promotional offers.

IC Markets offers 24 hours a day, 7 days a week multi-lingual Live Chat support as well as through email and phone. On the flip side, live chat can be improved.

IC Markets provides a competitive and unique offering across a wide range of asset classes that are suitable for both beginner and advanced traders, with more offerings suited to the advanced high-volume and automated trader. Its fees are very low and the account opening is fast and easy. The deposit and withdrawal are free and user-friendly. On the other hand, IC Markets offers only forex, CFD and crypto trading. It does not provide any investor and negative balance protection.

Final Thoughts
IC Markets can appeal to algorithmic traders that use the MT4, MT5, or cTrader platforms, and who need agency execution coupled with competitive spreads and low commissions. Although research is not IC Markets’ strong point, the broker has room to build on its foundation, and offering social trading on Myfxbook and ZuluTrade helps round off its offering to retail forex and CFD traders.

Trading Experience
IC Markets offers a suite of trading platforms, accounts and services that offer unique advantages to both beginner and advanced traders.

People Also Asked

Is IC Markets regulated?
Yes, IC Markets is regulated by top-tier regulators, ASIC, CySec, FSA inclusive.
Where is IC Markets based?
IC Markets is based in Australia
How does IC Markets make money?
IC Markets charges a spread between the bid price and ask price. In some instances it also charges a commission.
How do I deposit in IC Markets account?
With IC Markets you can deposit money via the following means; Credit Card, Moneybookers, Neteller, PayPal, Skrill, Wire.
How do I withdrawal in IC Markets account?
IC Markets lets you request a withdrawal of funds from your account via the following means; Credit Card, Neteller, PayPal, Webmoney, Wire Tran.
What is the minimum deposit for IC Markets?
IC Markets has $200 minimum deposit.
What are the available account base currencies with IC Markets?
IC Markets trading accounts are offered in AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHF. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in IC Markets?
IC Markets has a maximum leverage is 1:500 for professional traders.
How do I open an account with IC Markets?
Opening an account with IC Markets is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does IC Markets use MetaTrader?
IC Markets platforms: Yes, IC Markets use MetaTrader as well as the following platforms: MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader
What type of broker is IC Markets?
IC Markets appears to be a ECN, STP broker which offers market access to a variety of traders.
Does IC Markets accept US clients?
Does IC Markets offers Islamic accounts ?
What financial instruments can I trade?
You can trade a wide variety of instruments with IC Markets: You can trade a wide variety of instruments with IC Markets: Currencies, Commodities, Indices, Stocks, Bonds, Cryptocurrency, Futures

Are you Satisfied with what They Offer?