IC Markets Review 2026: Regulation, Raw Spreads, Fees and Platforms
By FX Handbook Editorial Team · Facts verified · Updated
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- Minimum deposit
- $0
- Regulators
- 3 (FSA, CySEC, ASIC)
- Max leverage
- 5000:1, by entity
- Platforms
- MetaTrader 4, MetaTrader 5, cTrader, TradingView
- Regulation and client protection (30%)3 / 5
- Trading costs (20%)4 / 5
- Deposits and withdrawals (15%)4 / 5
- Execution and platforms (15%)5 / 5
- Accounts and products (10%)5 / 5
- Transparency and support (10%)4 / 5
Based on the broker’s and regulators’ published information, without account testing. Scored with our review methodology (version 1.0). Not available to residents of: Brazil, Canada, Cuba, Iran, Israel, Malaysia, New Zealand, North Korea, Syria, United States.
IC Markets is a forex and CFD broker whose global site, now branded IC, is operated by Raw Trading Ltd under the FSA in Seychelles. Its EU entity is licensed by CySEC and its Australian entity by ASIC. The global entity offers leverage up to 1:5000 but states that it cannot guarantee negative balance protection. Raw Spread accounts have an average EUR/USD spread of 0.1 pips plus commission.
Is IC Markets regulated?
IC Markets serves clients through the following legal entities. Each licence was checked on the regulator's own register on the date shown.
| Entity and regulator | Clients served | Protections |
|---|---|---|
| Raw Trading Ltd FSA (Seychelles), licence SD018 Checked 3 October 2026 | Clients of the global site (icmarkets.com, trading names IC and IC Markets Global), where IC Markets accepts them. Max retail leverage on majors: 5000:1 | Negative balance protection: No Segregated client funds: Yes Compensation scheme: Client money insurance up to $1,000,000 for insolvency, according to IC Markets |
| IC Markets (EU) Ltd CySEC (Cyprus), licence 362/18 Checked 3 October 2026 | Clients in the EU and EEA (icmarkets.eu); licensed since 25 June 2018. Max retail leverage on majors: 30:1 | Negative balance protection: Yes Segregated client funds: Not stated Compensation scheme: None stated |
| International Capital Markets Pty Ltd ASIC (Australia), licence AFSL 335692 Checked 3 October 2026 | Clients in Australia (icmarkets.com.au). Not checked on the ASIC register. Max retail leverage on majors: 30:1 | Negative balance protection: Yes Segregated client funds: Not stated Compensation scheme: None stated |
IC Markets account types and costs
| Account | Minimum deposit | Pricing | Platforms |
|---|---|---|---|
| Raw Spread | $0 | Raw spread + $3.50 per lot per side ($7 round turn) | MetaTrader 4, MetaTrader 5 |
| cTrader Raw Spread | $0 | Raw spread + $3 per $100,000 traded per side | cTrader, TradingView |
| Standard | $0 | Spread only, no commission | MetaTrader 4, MetaTrader 5 |
Which IC Markets entity would open my account?
Clients in the EU are served by IC Markets (EU) Ltd under CySEC rules and clients in Australia by International Capital Markets Pty Ltd under ASIC rules: for retail clients, leverage on major pairs is capped at 30:1 and negative balance protection applies. Most other clients open accounts on the global site, now branded IC, with Raw Trading Ltd, licensed by the FSA in Seychelles: forex regulation.
Does IC Markets have negative balance protection?
Not on the global entity. IC Markets’ help centre states that it cannot guarantee that a global account will not enter a negative balance, and that the client bears the consequences if it does. Combined with leverage of up to 1:5000 on major pairs, a sharp price gap can in principle cause a loss larger than the deposit: negative balance protection. IC Markets states that global client funds are held in segregated accounts and insured up to $1,000,000 in case of the company’s insolvency.
IC Markets Raw Spread vs Standard account
IC Markets publishes an average EUR/USD spread of 0.1 pips on the Raw Spread account, with a commission of $3.50 per lot per side on MetaTrader; the Standard account has no commission and spreads from 0.8 pips.
Illustrative only: IC Markets' published average spread (Raw Spread) and advertised minimum spread (Standard), USD account, pip value about $10, no swap or slippage.
IC Markets deposits and withdrawals
IC Markets states that it charges no additional fees for deposits or withdrawals, although intermediary banks may charge their own and a processing fee may apply if deposits are withdrawn without trading. It lists over 15 funding methods, including cards, PayPal, Neteller, Skrill, bank wire and crypto. Withdrawal requests made before 12:00 Australian Eastern time are processed the same day; card withdrawals typically take three to five business days to arrive.
IC Markets pros and cons
Pros
- EU entity licensed by CySEC, checked on the register, and an ASIC-licensed Australian entity
- Low published average spread on the Raw Spread account (0.1 pips on EUR/USD)
- MetaTrader 4, MetaTrader 5, cTrader and TradingView
- No minimum deposit and no fees from IC Markets on deposits or withdrawals
Cons
- No negative balance protection on the global (Seychelles) entity
- Very high leverage (up to 1:5000) on the global entity
- Not available in the United States, Canada and New Zealand, among others
Open an account with IC Markets →
Alternatives to IC Markets
Other brokers we have reviewed with the same methodology, ranked by score. Check that the broker accepts clients from your country.
Comparisons and rankings
Frequently asked questions
Is IC Markets regulated?
Yes. IC Markets (EU) Ltd is licensed by CySEC (362/18), which we checked on the register, and its Australian entity by ASIC. Clients of the global site are served by Raw Trading Ltd under the FSA in Seychelles.
Does IC Markets have negative balance protection?
Not on the global entity. IC Markets states that it cannot guarantee that a global account will not go negative; EU and Australian retail clients have negative balance protection under local rules.
What is the IC Markets minimum deposit?
IC Markets lists no minimum deposit ($0) for its Raw Spread, cTrader and Standard accounts on the global site.
Does IC Markets accept US clients?
No. IC Markets states that Raw Trading Ltd does not provide services to residents of the United States, Canada, New Zealand, Iran and North Korea, among others.
Sources
- IC Markets (EU) Ltd, Investment Firms (Cypriot), Cyprus Securities and Exchange Commission
- Regulated Entities, Capital Markets, Financial Services Authority Seychelles
- Regulation, IC Markets
- Trading accounts overview, IC Markets
- Leverage and margin, IC Markets
- Funding, IC Markets