IC Markets Review 2026 — Raw Spreads, cTrader & ASIC Regulation

IC Markets 2026 — Key Facts at a Glance

IC Markets Overview

IC Markets was founded in 2007 in Sydney, Australia and has grown into one of the largest retail CFD and forex brokers in the world by trading volume, processing over $30 billion in daily trades. It operates under ASIC licence 335692 and is widely respected for its institutional-quality execution infrastructure available to retail clients.

IC Markets is particularly known for offering the tightest raw spreads in the retail broker space. On the Raw ECN account, EUR/USD live average spreads consistently measure below 0.1 pips during London session hours in our testing — a figure that matches or betters what institutional prime brokers provide to professional traders. This positions IC Markets as the default choice for serious scalpers and algorithmic traders who optimise for total cost per lot.

The broker supports all four major retail platforms — MT4, MT5, cTrader and TradingView — and offers a range of over 2,000 instruments spanning forex, indices, metals, energies, cryptocurrencies and individual stock CFDs. Its server infrastructure is hosted at the Equinix NY4 data centre in New Jersey, the same facility used by major hedge funds and prime brokers, ensuring minimal latency for automated strategies.

Regulation & Safety — Is IC Markets Safe?

IC Markets operates under a three-licence regulatory structure. Its primary and most stringent licence is held under ASIC (Australian Securities and Investments Commission, licence 335692). EU-resident clients are served under CySEC licence 362/18, and international clients outside ASIC and EU jurisdictions are covered by the FSA Seychelles.

Under ASIC regulation, IC Markets is required to:

• Hold all client funds in segregated accounts, entirely separate from company operational capital
• Provide negative balance protection to retail clients, capping losses at account equity
• Maintain ongoing capital adequacy requirements and minimum net tangible asset levels
• Submit to regular independent financial audits

IC Markets holds client funds at three of Australia's Tier-1 banks: National Australia Bank, Commonwealth Bank of Australia and Westpac. Annual audits are conducted by KPMG. The broker has operated continuously since 2007 without any reported material regulatory breach — a strong track record for a broker of this size.

One important note: ASIC-regulated CFD brokers — including IC Markets, Pepperstone and Grand Markets — do not have access to a government-backed compensation scheme comparable to the UK's FSCS. This is a structural feature of ASIC regulation, not unique to IC Markets. You can verify IC Markets' ASIC licence on the ASIC MoneySmart register.

Regulation verdict: IC Markets scores 9.5/10 for safety. It is one of the most robustly regulated retail CFD brokers available globally. The segregated Tier-1 banking and KPMG audit regime provide a level of client fund security that exceeds many competitors.

IC Markets Spreads & Commission

IC Markets operates a two-account model. The Raw account delivers direct ECN pricing with spreads from 0.0 pips and a fixed commission of $3.50 per lot per side ($7.00 round-trip per standard lot). The Standard account includes no commission, with a spread markup bringing average EUR/USD to approximately 0.8 pips during normal market hours.

Live Spread Data — Our Measurements (London Session, June 2026)

In our live testing, IC Markets Raw consistently measured the tightest average EUR/USD spread among all ASIC-regulated brokers we have tested. During peak London–New York overlap hours, live EUR/USD spreads on the Raw account averaged 0.02–0.08 pips — figures that match institutional-grade pricing.

Cost Comparison: Raw vs Standard Account (100 Lots/Month)

To illustrate the real-world cost difference, consider a trader placing 100 standard lots per month on EUR/USD:

For traders placing 50+ lots per month, the Raw account's $7 round-trip commission structure consistently produces lower total costs than the Standard account. At 100 lots/month, the saving is approximately $115 per month, or $1,380 annually — meaningful for active traders.

Leverage

Under ASIC regulation, retail clients are capped at 1:30 for major forex and 1:20 for indices. International clients accessing IC Markets via the Seychelles entity may access leverage up to 1:500, subject to eligibility assessment. We strongly caution against using maximum leverage — at 1:500, a 0.2% adverse price move wipes the entire account.

IC Markets Platforms — MT4, MT5, cTrader & TradingView

IC Markets is one of a small group of retail brokers that genuinely supports all four major trading platforms: MetaTrader 4, MetaTrader 5, cTrader and TradingView (via live trading integration). This breadth of platform choice is a material advantage for traders who want to switch platforms or run strategies across multiple environments.

cTrader — Depth of Market and Algorithmic Trading

IC Markets' cTrader implementation is among the strongest we have tested. The platform provides full Depth of Market (DOM) display with Level 2 pricing, giving traders visibility into the actual order book — a feature unavailable on MT4. cBots are written in C# using the cAlgo API, giving developers considerably more flexibility than MT4's MQL4 language. During our testing, cTrader average fill time was approximately 27ms — marginally faster than MT4 at the same broker.

MetaTrader 4 and MT5

IC Markets' MT4/MT5 environment is well-maintained and supports the full ecosystem of Expert Advisors, custom indicators and scripts. The broker provides one-click trading, trailing stops and a complete market depth view in MT5. For traders with existing MT4 EAs or custom indicators, IC Markets' implementation is fully compatible without modification.

TradingView Integration

The TradingView integration allows traders to place live orders directly from TradingView charts, combining TV's industry-leading charting tools with IC Markets' ECN execution. This is a relatively recent addition and is currently limited to desktop browsers. Traders who rely heavily on TradingView Pine Script alerts will find this integration particularly valuable.

Equinix NY4 Server Infrastructure

IC Markets co-locates its MT4, MT5 and cTrader servers at the Equinix NY4 data centre in Secaucus, New Jersey — the same facility used by major prime brokers and algorithmic trading firms. For traders running VPS-hosted EAs, this minimises round-trip latency to under 1ms. IC Markets also offers free VPS hosting to qualifying clients (typically those trading 15+ lots per month).

IC Markets Instruments — 2,000+

IC Markets offers one of the widest instrument ranges among ASIC-regulated brokers, with over 2,000 tradeable instruments across six asset classes:

• Forex: 60+ currency pairs, including majors, minors and a broad range of exotic pairs
• Indices: 25 global indices (S&P 500, Dow Jones, FTSE 100, DAX, Nikkei 225, ASX 200 and more)
• Metals: Gold (XAU/USD), Silver (XAG/USD), Platinum — all available on Raw ECN spreads
• Energies: Crude Oil (WTI and Brent), Natural Gas
• Cryptocurrencies: 25 crypto CFDs including BTC/USD, ETH/USD, SOL/USD and others
• Stock CFDs: 1,600+ individual stock CFDs covering US (NYSE, NASDAQ), Australian (ASX) and European (LSE, DAX, CAC40) equities, plus ETF CFDs

One nuance worth noting: individual stock CFDs carry wider spreads than FX and index instruments — this is standard across all CFD brokers and reflects the underlying equity market structure. For traders focused primarily on FX, indices and commodities, the IC Markets instrument range is effectively unmatched.

IC Markets vs Grand Markets — Side-by-Side Comparison

IC Markets is our #3 ranked broker for 2026. Below is a direct comparison against our #1-ranked broker, Grand Markets. For a full breakdown, read the Grand Markets review.

Feature	Grand Markets	IC Markets
CFD Bonus Rank Rating	★ 4.9 / 5	★ 4.6 / 5
Primary Regulator	ASIC (554475)	ASIC (335692)
Additional Regulation	—	CySEC 362/18, FSA Seychelles
Execution Type	ECN / STP	ECN / STP
Min Spread	0.0 pips (ECN)	0.0 pips (Raw)
Commission / Lot	~$6 RT	~$7 RT
Min Deposit	$100	$200
Welcome Bonus	$200 Cash Reward	None
MT4	✓	✓
MT5	✓	✓
cTrader	✓	✓
Max Leverage	1:500 (international)	1:500 (international)
Demo Account	✓	✓
24/5 Support	✓	✓

For pure trading cost efficiency, IC Markets is excellent — the Raw ECN account with $7 RT commission and sub-0.1 pip EUR/USD spreads represents one of the lowest total cost structures available to retail traders. However, for new traders deciding between two equally ASIC-regulated ECN brokers, Grand Markets' $200 Cash Reward and $100 minimum deposit represent a compelling advantage. Grand Markets also offers slightly lower commission ($6 RT vs $7 RT), which adds up for high-volume traders.

IC Markets Pros and Cons

IC Markets Review — Final Verdict

IC Markets is one of the best pure-execution brokers in the world. Its raw spreads (consistently sub-0.1 pips on EUR/USD during London hours), platform range — particularly the cTrader implementation with full DOM and C# cBot support — and instrument breadth of 2,000+ are unmatched among ASIC-regulated retail brokers. The Equinix NY4 server infrastructure and free VPS hosting make it the natural home for algorithmic traders, scalpers and anyone who places a premium on execution quality.

The meaningful weaknesses are limited to two points: the absence of any welcome bonus and a $200 minimum deposit. For algorithmic traders, scalpers and high-volume traders who have already funded their accounts, neither is a material concern. But for new traders comparing ASIC-regulated options before making their first deposit, both factors deserve consideration.

Our overall rating for IC Markets in 2026 is 4.6 out of 5 — an outstanding execution-focused broker that sits at #3 in our rankings. For the full picture of where IC Markets stands in context, also consider Grand Markets — which matches IC Markets on ASIC regulation and ECN execution while offering a $200 Cash Reward and a lower $100 minimum deposit. Visit our best CFD brokers 2026 page for a complete comparison.