>Broker Review

IC Markets Review 2025

By: Anstot Aswanber

Reviewed By: Riley Balantine

Updated: 01.04.2024 / 08:01

Overall Rating

4.5

Trust

4.1

Tradable Instruments

4.7

Deposit and Withdrawal

4.9

Fees

4.6

Customer Support

4.6

Account Types and Terms

4.9

Platforms and Tools

4.4

Research

4.7

Education

4.4

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Our Take on IC Markets

Established in 2007 and headquartered in Australia, IC Markets is a well-balanced forex and CFDs broker offering over 2,200 tradable instruments.

IC Markets Pros and Cons

Pros

Global presence
Very low spreads
Feature-rich trading platforms
Automated and copy trading
Free VPS hosting

Cons

No proprietary platform
No negative balance protection on offshore entity

Is IC Markets Right for You?

When reviewing a broker, we assess its suitability for implementing various trading strategies.

What Sets IC Markets Apart?

IC Markets distinguishes itself with a rare instrument offering. Metals like gold, palladium, and silver are denominated in different currencies, including USD, AUD, JPY, and PLN. This allows traders to exploit different cross-market correlations. Moreover, the broker stands out for its diverse selection of platforms and tools.

IC Markets Video Review

NOTE : I performed my tests on a Standard trading account using the desktop and mobile versions of the MetaTrader 5 platform. The account was opened with the brokers Raw Trading Ltd entity.

IC Markets Main Features

Regulations: CySEC (Cyprus), ASIC (Australia), FSA (Seychelles)

Supported Languages: English, Russian, Indonesian, Portuguese, Thai, Arabic, Italian, Spanish, Chinese, Vietnamese

Products: Currencies, Stocks, ETFs, Crypto, Bonds, Indices, Commodities, Futures

Min Deposit: $200

Max Leverage: 1:30 (CySEC), 1:30 (ASIC), 1:500 (FSA)

Trading Desk Type: ECN, No dealing desk

IC Markets Full Review

Trust4.1

How do we test trustworthiness ?

SUMMARY: IC Markets is authorized by CySEC, ASIC, and FSA Seychelles. The broker adheres to all essential safety requirements, such as ensuring segregated client funds and negative balance protection. It also has issued a “best execution policy.”

Entity Features	IC Markets (EU) Ltd	International Capital Markets Pty Ltd	Raw Trading Ltd
Country/Region	Cyprus, Licensed	Australia, Sydney	Seychelles, Eden Island
Regulation Tier	1	1	3
Negative Balance Protection	Yes	Yes	Yes
Compensation	Up to EUR 20,000 under ICF	-	Indemnity insurance up to $1 million
Maximum Leverage	1:30	1:30	1:500

IC Markets Regulations

In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

This is what I discovered about the three entities operating under the IC Markets trade name:

>Raw Trading Ltd is licensed and regulated by the Financial Services Authority (FSA) of the Seychelles under license number SD018. We rate the FSA as a Tier-3 regulator.

>IC Markets (EU) Ltd is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 362/18. We rate CySEC as a Tier-1 regulator.

>International Capital Markets Pty Ltd is licensed and regulated by the Australian Securities and Investments Commission (ASIC) under license number 335692. We rate ASIC as a Tier-1 regulator.

IC Markets (EU) Ltd

86 Franklinou Roosvelt, 4th floor, Office 401, 3011 Omonoia, Limassol, Cyprus

Licence Number: 362/18

Licence Date: 25/06/2018

Company Registration Number: 356877

Telephone: +357 25 761 455

Fax: +357 25 761 458

Country: Cyprus

E-Mail: [email protected]

Approved Domains: www.icmarkets.eu

Understanding the Regulatory Protections of Your Account

Brokers operate multiple entities to serve clients worldwide. However, licenses obtained from regulators in different jurisdictions do not always entail the same degree of protection.

Some regulators mandate compliance with the strictest financial frameworks, while others are less rigid. That is why traders must familiarize themselves with the safety mechanisms ensured by the entity they want to open an account.

Here is what you need to be looking for in a broker in terms of safety mechanisms:

>Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the brokers corporate capital negates the risk of accounting errors. All IC Markets entities ensure the segregation of client funds.

>Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. Raw Trading Ltd entity is the only one that does not guarantee negative balance protection.

>Compensation scheme. A compensation scheme protects traders against the brokers liabilities if the company becomes insolvent. Clients of IC Markets (EU) Ltd are protected by up to EUR 20,000 under the Investor Compensation Scheme (ICF). Clients of Raw Trading Ltd are protected by up to $1 million under private indemnity insurance.

>Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. The maximum leverage with IC Markets is 1:500, available with Raw Trading Ltd.

In our Trust category assessments, we evaluate factors tied to stability and transparency, including the brokers longevity, company size, and information transparency.

I concluded that IC Markets is a fairly transparent broker. Reviewing its legal documents, I discovered that everything was in order. All important information is readily available and easy to understand.

The broker has issued a best execution policy, which means that it is required to take all necessary steps to provide its clients with the best possible quotes under prevailing market conditions.

IC Markets has also issued private indemnity insurance for its offshore entity, demonstrating its commitment to providing its clients with optimal protection.