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IC Markets Broker Review

FX Scouts By Jeffrey Cammack Updated: March 9, 2020
Overall Rating
4.46 / 5
Min. DepositGBP 200
Max. Leverage30:1
Min. Spread0.1 pips
RegulatorsCySEC,ASIC
Regulator Origin CySEC ASIC
Broker TypeECN

Summary

IC Markets is one of the few ECN brokers that is truly good for beginner traders; trader education and customer service are both top-notch and with free access to Trading Central - an excellent third-party analytics provider - new traders will feel very welcome indeed. IC Markets runs frequent bonus schemes, some especially for Islamic traders, with commission-free trading on Islamic accounts during Ramadan. 

IC Markets also offers support for all three leading trading platforms so experienced traders looking for a good ECN broker with the best trading conditions and fast execution should be tempted too.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Beginner Friendly Excellent
Bonuses
Our Review Process

Trading Conditions

Minimum DepositGBP 200
Base currenciesAUD, USD, EUR, GBP, CAD, SGD, NZD, JPY, CHF, HKD
Number of FX Pairs60
Hedging Allowed Yes
Scalping Yes
Swap-Free Accounts Yes

Average Spreads

EUR / USD0.1
GBP / USD0.4
USD / JPY0.2

Company Details

Company nameInternational Capital Markets Pty Ltd.
Founded2007
Website Visit Website
TypeECN
RegulatorsCySEC,ASIC
Office locations Australia

Deposit & Withdrawal Methods

Supported Platforms for IC Markets

Most retail CFD accounts lose money. Your capital is at risk.

Compare CFD Brokers

Overall Rating 4.46 / 5 4.43 / 5 4.38 / 5
Minimum DepositGBP 200USD 5USD 5
Regulation
CySEC CySEC
ASIC ASIC
CySEC CySEC
FCA FCA
FSCA FSCA
DFSA DFSA
FSC FSC
CySEC CySEC
FCA FCA
ASIC ASIC
IFSC IFSC
Broker TypeECNECN/STPMarket Maker
Trading InstrumentsCommodities, Cryptocurrencies, Forex, Indicies, Equities, Bonds, FuturesCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies, BondsCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies
Forex Pairs605157
Crypto Pairs1042
Read Full Review Read Full Review
Trust Rating 5 / 5 5 / 5 5 / 5
Trading Conditions 4.5 / 5 4.5 / 5 3.5 / 5
Trading Platforms 5 / 5 4 / 5 4.5 / 5
Deposit & Withdrawal 4 / 5 4.5 / 5 4.5 / 5
Education & Research 3 / 5 4.5 / 5 5 / 5
Assets Available 4.5 / 5 4 / 5 4.5 / 5
Customer Service 4.5 / 5 4.5 / 5 4 / 5
% Lose with this broker N/A 72.83% of retail investor accounts lose money when trading CFDs with this provider 69% of retail investor accounts lose money when trading CFDs with this provider
Leverage30:11000:1888:1
Spread0.1 pips0.0 pips0.6 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • RAW - cTrader (Standard)
  • RAW - MetaTrader (Standard)
  • Standard - MetaTrader (Standard)
  • Auto (Standard)
  • HFCopy (Standard)
  • Islamic
  • Micro (Mini)
  • Premium (Standard)
  • Premium Pro (Vip)
  • Zero (Standard)
  • Micro (Mini)
  • Standard (Mini)
  • XM Ultra Low (Mini)
  • XM Zero (Standard)
Swap-Free Accounts Yes Yes Yes
Trading Platforms MT4, MT5, cTrader MT4 MT4, MT5
Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, Paypal, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, VLOAD, Unionpay Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay
Trading Commission 7 USD / lot - True ECN account 6 USD / lot - Zero Account 7 USD / lot - XM Zero Account
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IC Markets

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XM

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Overall Rating 4.46 / 5 4.43 / 5 4.38 / 5
Minimum DepositGBP 200USD 5USD 5
Regulation
CySEC CySEC
ASIC ASIC
CySEC CySEC
FCA FCA
FSCA FSCA
DFSA DFSA
FSC FSC
CySEC CySEC
FCA FCA
ASIC ASIC
IFSC IFSC
Broker TypeECNECN/STPMarket Maker
Trading InstrumentsCommodities, Cryptocurrencies, Forex, Indicies, Equities, Bonds, FuturesCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies, BondsCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies
Forex Pairs605157
Crypto Pairs1042
Read Full Review Read Full Review
Trust Rating 5 / 5 5 / 5 5 / 5
Trading Conditions 4.5 / 5 4.5 / 5 3.5 / 5
Trading Platforms 5 / 5 4 / 5 4.5 / 5
Deposit & Withdrawal 4 / 5 4.5 / 5 4.5 / 5
Education & Research 3 / 5 4.5 / 5 5 / 5
Assets Available 4.5 / 5 4 / 5 4.5 / 5
Customer Service 4.5 / 5 4.5 / 5 4 / 5
% Lose with this broker N/A 72.83% of retail investor accounts lose money when trading CFDs with this provider 69% of retail investor accounts lose money when trading CFDs with this provider
Leverage30:11000:1888:1
Spread0.1 pips0.0 pips0.6 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • RAW - cTrader (Standard)
  • RAW - MetaTrader (Standard)
  • Standard - MetaTrader (Standard)
  • Auto (Standard)
  • HFCopy (Standard)
  • Islamic
  • Micro (Mini)
  • Premium (Standard)
  • Premium Pro (Vip)
  • Zero (Standard)
  • Micro (Mini)
  • Standard (Mini)
  • XM Ultra Low (Mini)
  • XM Zero (Standard)
Swap-Free Accounts Yes Yes Yes
Trading Platforms MT4, MT5, cTrader MT4 MT4, MT5
Funding Methods Bank Transfer, Visa, Mastercard, Skrill, Neteller, Paypal, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, VLOAD, Unionpay Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay
Trading Commission 7 USD / lot - True ECN account 6 USD / lot - Zero Account 7 USD / lot - XM Zero Account

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Most retail CFD accounts lose money. Your capital is at risk.

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