IC Markets Review
Low-cost ECN trading · Founded 2007 · Sydney, Australia
Not FCA-authorised
Reviewed by Adrian Rochester Updated 30 September 2026
Not financial advice. Our rankings and reviews are for general information only and are not a recommendation to open an account or to trade. Forex and CFDs are high-risk; consider independent advice and whether you can afford to lose your money.
IC Markets is not authorised by the UK's Financial Conduct Authority, so we don't link to it.
IC Markets is a popular choice for active and algorithmic traders thanks to raw pricing, deep liquidity and a strong line-up of third-party platforms.
Our verdict on IC Markets
IC Markets was founded in Sydney in 2007 and is one of the world's biggest forex brokers by volume, popular with scalpers and algorithmic traders. Important for UK readers: IC Markets has no FCA-authorised company. The global website that UK residents reach is operated under a licence from the Financial Services Authority of Seychelles (FSA).
On price, IC Markets is excellent. The Raw Spread account has an average EUR/USD spread of 0.1 pips with a commission of US$3.50 per lot per side (US$7 round turn), and now has no minimum deposit. Newer Raw Pro accounts cut commission to US$1.50 or US$1.00 per side for larger deposits (US$5,000 and US$100,000).
The trade-off is protection. Without FCA authorisation, UK clients don't get FSCS cover, FCA leverage limits or the Financial Ombudsman Service. IC Markets offers leverage up to 1:5000 on MetaTrader, which can wipe out an account very quickly, though it does hold client-money insurance up to US$1 million. For UK residents, we suggest comparing FCA-authorised raw-spread brokers such as Pepperstone, Tickmill or Vantage first.
Ratings breakdown
Key facts
- UK status
- Not FCA-authorised
- EUR/USD spread
- 0.1 pips average (Raw Spread account)
- Commission
- ~£5.28 per lot round-turn
- All-in cost
- ~£6.03 per standard lot
- Minimum deposit
- £0
- Max leverage
- 1:5000 (offshore entity)
- Instruments
- 2,250+
- Founded
- 2007
- Headquarters
- Sydney, Australia
Pros
- Very tight raw spreads on major pairs
- Choice of MT4, MT5, cTrader and TradingView
- Fast execution suited to scalping and EAs
Cons
- No FCA-authorised company for UK clients
- Very high offshore leverage (up to 1:5000)
- Limited proprietary research
Regulation
Highlighted = tier-1 regulator. Protection depends on the entity you open an account with.
Platforms
Who IC Markets is for
Good fit
- Experienced scalpers and algorithmic traders focused on raw-spread costs
- Traders who want MT4, MT5, cTrader and TradingView in one place
- Non-UK traders in regions served by IC Markets' licensed companies
Look elsewhere if
- UK traders who want FCA protection, FSCS cover and FCA leverage limits
- Beginners: very high offshore leverage greatly increases the risk of losses
- Anyone wanting spread betting, share dealing or an ISA
IC Markets fees and spreads
All IC Markets accounts use the same raw pricing from up to 25 institutional sources. You choose between commission-free Standard pricing and raw spreads plus commission.
| Account | Spreads from | Commission per lot per side | Minimum deposit |
|---|---|---|---|
| Standard (MetaTrader) | 0.8 pips | None | US$0 |
| Raw Spread (MetaTrader) | 0.0 pips (EUR/USD avg 0.1) | US$3.50 | US$0 |
| Raw Spread (cTrader/TradingView) | 0.0 pips | US$3.00 per US$100k | US$0 |
| Raw Pro (early access) | 0.0 pips | US$1.50 | US$5,000 |
| Raw Pro+ (early access) | 0.0 pips | US$1.00 | US$100,000 |
From IC Markets' global account overview. These accounts are offered through IC Markets' offshore (Seychelles-regulated) company, not an FCA-authorised firm.
Other costs
| Charge | IC Markets |
|---|---|
| Maximum leverage | Up to 1:5000 on MetaTrader and 1:1000 on cTrader (far above the UK's 1:30 retail limit) |
| Deposits | Card, PayPal, Neteller, Skrill, bank wire, crypto and more |
| Overnight swaps | Charged or credited on positions held overnight; swap-free accounts available |
Account types
- Raw Spread
- Raw spreads from 0.0 pips with US$3.50 per lot per side on MetaTrader. Built for day traders, scalpers and Expert Advisors.
- Raw Spread (cTrader)
- Raw spreads on cTrader and TradingView with US$3 commission per US$100,000 traded.
- Standard
- No commission, spreads from 0.8 pips.
- Raw Pro and Raw Pro+
- New lower-commission accounts for larger balances (early access).
- Swap-free and demo accounts
- Islamic swap-free accounts and free demos.
Deposits and withdrawals
| Instant methods | Credit/debit card, PayPal, Neteller, Skrill, crypto (BTC, ETH, USDC, USDT) |
| Bank wire | 2–5 business days (GBP accepted) |
| Minimum deposit | US$0 on Raw Spread and Standard |
| Account currencies | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, HKD, CHF |
Is IC Markets safe?
- IC Markets' global company is authorised and regulated by the Financial Services Authority of Seychelles (FSA). It is not authorised by the FCA.
- UK clients of the offshore company are not covered by the FSCS or the Financial Ombudsman Service.
- IC Markets holds client-money insurance covering funds up to US$1,000,000 (policy TT2602110), with no opt-in needed.
- Client funds are kept in accounts separate from IC Markets' operating capital.
- Leverage of up to 1:5000 is far above FCA limits; losses can exceed what you intended to risk very quickly.
Platforms and tools
- MetaTrader 4 & 5
- Including WebTrader, mobile and Mac versions, with advanced trading tools and VPS hosting.
- cTrader
- Web, desktop, mobile, cTrader Algo and cTrader Copy Trading.
- TradingView
- Trade IC Markets' cTrader-based Raw account from TradingView.
- Tools
- IC Insights, Trading Central and a trading API.
Research and education
IC Markets offers Web TV, webinars, a podcast, tutorial videos, Trading Central analysis and an economic calendar.
Customer support
Support is available through IC Markets' contact page and help centre.
IC Markets FAQs
Is IC Markets regulated in the UK?
No. IC Markets has no FCA-authorised company. UK residents deal with its Seychelles-regulated company, so FSCS and Financial Ombudsman protections do not apply.
What is IC Markets' minimum deposit?
The Raw Spread and Standard accounts now have no minimum deposit. Raw Pro needs US$5,000 and Raw Pro+ US$100,000.
What are IC Markets' spreads and commission?
On the Raw Spread account, EUR/USD averages 0.1 pips with US$3.50 per lot per side on MetaTrader. The Standard account has no commission and spreads from 0.8 pips.
Does IC Markets offer TradingView?
Yes, along with MT4, MT5 and cTrader.
What are FCA-regulated alternatives to IC Markets?
For similar raw-spread pricing with FCA protection, compare Pepperstone, Tickmill and Vantage in our Best Low Spread Brokers guide.
Where these figures come from
Checked on 30 September 2026 against IC Markets's own website. Figures marked ~ are converted from US$ at £1 = $1.3247 (ECB reference rate, 29 September 2026). Spreads, fees and deposits change often, so confirm them with IC Markets before opening an account.
IC Markets is not authorised by the UK's Financial Conduct Authority, so we don't link to it.
How we make money: some links on this page are affiliate links. If you open an account through them we may earn a commission, at no extra cost to you. This never affects our ratings, which follow our published methodology.
More broker reviews
- Saxo review 4.6
- FP Markets review 4.5
- FxPro review 4.5
- XTB review 4.5
- Axi review 4.4