This IC Markets review evaluates one of the world’s largest true ECN forex brokers, known for its deep liquidity, tight spreads, and institutional-grade infrastructure. IC Markets is favoured by algorithmic and high-frequency traders for its transparent pricing and low latency execution environment.

Regulation and Safety

IC Markets is regulated across multiple jurisdictions, enhancing global trust and operational legitimacy:

• ASIC (Australia): License No. 335692
• CySEC (Cyprus): License No. 362/18
• FSA (Seychelles): License No. SD018

Client funds are held in segregated Tier-1 bank accounts. EU clients are covered by the Investor Compensation Fund (ICF), and negative balance protection is provided where required.

Execution Model and Trading Platforms

IC Markets offers a pure ECN model with No Dealing Desk (NDD) execution and access to interbank liquidity:

• Execution Speed: < 40ms with fibre-optic connectivity
• FIX API: Available for institutional clients
• VPS: Offered via third-party partners
• Platforms: MT4, MT5, and cTrader (desktop, web, mobile)

Markets and Instruments

IC Markets offers over 2,000 tradable instruments across 9 asset classes:

• Forex: 60+ major, minor, and exotic pairs
• Indices: S&P 500, NASDAQ, DAX, FTSE 100
• Commodities: Gold, oil, silver, natural gas
• Stocks: US, UK, EU, and AUS shares
• Futures, Bonds, ETFs: CFD-based
• Cryptocurrencies: BTC, ETH, LTC, XRP (via CFDs)

Accounts, Spreads and Leverage

Three core account types suit different trading styles:

• Standard Account: Zero commission, spreads from 0.8 pips
• Raw Spread Account: Spreads from 0.0 pips + $7/lot commission
• cTrader Raw Account: Same as Raw, $6/lot commission
• Leverage: Up to 1:500 (varies by jurisdiction)
• Minimum deposit: $200
• Stop-out level: 50%

Funding and Base Currencies

IC Markets supports a wide range of funding options with same-day processing:

• Methods: Bank transfer, Visa/Mastercard, PayPal, Neteller, Skrill, UnionPay, crypto
• Base currencies: USD, EUR, GBP, AUD, SGD, NZD, JPY, HKD, CHF, and more
• Processing: Instant or same-day for most methods

Client Protections and Features

• Negative balance protection (EU and Seychelles clients)
• Segregated accounts in top-tier banks
• ICF protection under CySEC
• 2FA and encrypted platforms
• Externally audited financials

Institutional and Retail Offering

IC Markets supports both retail and institutional clients:

• FIX API access
• VPS hosting and latency-optimised servers
• White-label services upon request
• Liquidity solutions for brokers and asset managers

Pros and Cons

Pros

• True ECN execution with tight spreads
• Regulated by ASIC, CySEC, and FSA
• Supports MT4, MT5, and cTrader
• Over 2,000 tradable instruments
• Institutional-grade infrastructure with FIX API

Cons

• No bonuses or promotions due to regulation
• High leverage not available in all regions
• No proprietary trading platform

Frequently Asked Questions

Is IC Markets regulated?

Yes, IC Markets is regulated by ASIC (Australia), CySEC (Cyprus), and the FSA (Seychelles).

What trading platforms does IC Markets support?

IC Markets supports MetaTrader 4, MetaTrader 5, and cTrader across desktop, mobile, and web.

Does IC Markets offer ECN trading?

Yes, IC Markets is a true ECN broker with direct market access and STP/NDD execution.

What is the minimum deposit to open an IC Markets account?

The minimum deposit is $200 or equivalent in your chosen base currency.

Is IC Markets suitable for algorithmic traders?

Yes, IC Markets offers low-latency infrastructure, VPS support, and FIX API for algo trading.