IC Markets Review 2024: Complete Analysis
IC Markets has built a reputation as one of the top ECN brokers. This comprehensive review examines their offerings, costs, and whether they’re right for your trading needs.
IC Markets Overview
- Founded: 2007
- Headquarters: Sydney, Australia
- Regulation: ASIC, CySEC, FSA
- Minimum Deposit: $200
- Account Types: Standard, Raw Spread, cTrader
⭐ Rating: 4.8/5
What We Love:
- Ultra-tight spreads
- Lightning-fast execution
- Multiple platforms
- Strong regulation
Areas for Improvement:
- Higher minimum deposit
- Complex for beginners
- Limited educational content
Spreads & Commissions
Raw Spread Account:
- EUR/USD: From 0.1 pips + $3.5 commission
- GBP/USD: From 0.3 pips + $3.5 commission
- USD/JPY: From 0.2 pips + $3.5 commission
Standard Account:
- EUR/USD: From 1.0 pips
- GBP/USD: From 1.5 pips
- USD/JPY: From 1.2 pips
Trading Platforms
MetaTrader 4
- Pros: Stable, familiar, lots of EAs
- Cons: Older technology
- Best For: Automated trading
MetaTrader 5
- Pros: Modern features, hedging
- Cons: Fewer EAs available
- Best For: Advanced analysis
cTrader
- Pros: Modern UI, Level II pricing
- Cons: Learning curve
- Best For: Professional traders
Regulation & Safety
ASIC (Australia) ⭐⭐⭐⭐⭐
- Client funds: Segregated
- Compensation: Up to $20,000
- Oversight: Strict monitoring
CySEC (Cyprus) ⭐⭐⭐⭐☆
- Client funds: Segregated
- Compensation: Up to €20,000
- Oversight: EU standards
Account Types Comparison
| Feature | Standard | Raw Spread | cTrader |
|---|---|---|---|
| Min Deposit | $200 | $200 | $200 |
| Spreads | From 1.0 | From 0.1 | From 0.1 |
| Commission | No | $3.5/lot | $3/lot |
| Platform | MT4/MT5 | MT4/MT5 | cTrader |
Trading Conditions
Execution:
- Type: ECN/STP
- Speed: Average 40ms
- Slippage: Minimal
- Requotes: Rare
Leverage:
- Forex: Up to 1:500
- Indices: Up to 1:200
- Commodities: Up to 1:100
Pros & Cons
✅ Pros:
- Ultra-tight spreads: Best in industry
- Fast execution: Perfect for scalping
- Strong regulation: Multiple jurisdictions
- Professional platforms: MT4, MT5, cTrader
- Deep liquidity: Tier-1 providers
❌ Cons:
- Higher barriers: $200 minimum
- Complex pricing: Commission structure
- Limited education: Fewer learning resources
- Not beginner-friendly: Overwhelming features
Who Should Choose IC Markets?
✅ Perfect For:
- Experienced traders
- Scalpers and day traders
- EA developers
- High-frequency traders
- Professional traders
❌ Not Ideal For:
- Complete beginners
- Small account traders
- Education seekers
- Simple platform users
Customer Support
Contact Options:
- Live Chat: 24/5
- Email: Response within 24h
- Phone: Multiple countries
- Languages: 11 supported
Quality Rating: ⭐⭐⭐⭐☆
- Professional and knowledgeable
- Quick response times
- Technical expertise
Mobile Trading
MT4/MT5 Mobile:
- Features: Full functionality
- Performance: Smooth and stable
- Charts: Professional quality
cTrader Mobile:
- Features: Advanced tools
- Performance: Excellent
- Interface: Modern design
Educational Resources
Available Content:
- Basic trading guides
- Platform tutorials
- Market analysis
- Economic calendar
Rating: ⭐⭐⭐☆☆
Limited compared to other brokers, but quality is good.
Deposits & Withdrawals
Deposit Methods:
- Bank Transfer: Free
- Credit/Debit Cards: Instant
- PayPal: Selected regions
- Skrill/Neteller: Available
Withdrawal Times:
- Bank Transfer: 1-3 business days
- Cards: 1-3 business days
- E-wallets: Same day
Security Features
Account Protection:
- Two-factor authentication
- SSL encryption
- Negative balance protection
- Segregated client funds
Final Verdict
Score: 4.8/5 ⭐⭐⭐⭐⭐
IC Markets excels in execution speed, spreads, and regulation. It’s ideal for experienced traders who prioritize cost-effectiveness and professional tools.
Bottom Line:
If you’re an experienced trader looking for institutional-grade conditions, IC Markets is hard to beat. Beginners should consider starting elsewhere and graduating to IC Markets later.
Alternatives to Consider
- For Beginners: XM, Oanda
- For Education: IG, FXTM
- For Low Deposits: XM, Exness