IC Markets Review 2026

IC Markets is the gold standard for ECN execution in Australia. Its dual ASIC/CySEC regulation and institutional liquidity make it the go-to for professionals — but the $200 minimum puts it out of reach for budget traders.

Category Scores

Key Stats

Overview

IC Markets is the largest CFD broker in Australia by trading volume — over $29 billion daily. It's been operating since 2007 and has become the default recommendation for serious retail ECN traders. ASIC regulated, ultra-low spreads, and three platform options. For anyone who wants the full professional setup with Tier-1 regulation, this is the benchmark.

The only real friction is the $200 minimum deposit — higher than offshore alternatives — and the education resources which are notably thin for a broker of this size. But if you're past the learning stage, IC Markets is hard to fault on execution quality and regulatory standing.

Regulation & Safety

IC Markets holds ASIC (Australia), CySEC (Cyprus), and FSA (Seychelles) licences. The ASIC licence is the flagship — it means strict capital requirements, segregated client funds, and access to AFCA dispute resolution (Australia's Financial Ombudsman). CySEC covers EU clients with ICF compensation up to €20,000.

This is meaningful protection. ASIC-regulated brokers have to maintain adequate capital, pass audits, and face real consequences for misconduct. If you're putting significant capital to work, having Tier-1 regulation matters.

Trading Costs

IC Markets Raw ECN accounts: 0.0 pip average on EUR/USD, $7 commission per lot round turn ($3.50 each way). On a 1-lot EUR/USD trade: $0 spread + $7 commission = $7 total. Standard accounts charge about 1.0 pip with no commission — more expensive for active trading.

For cTrader users, commission is $6 per lot — identical to FP Markets, and slightly cheaper than the MT5 offering. If cost is the priority and you're open to cTrader, IC Markets on cTrader is very competitive.

Platforms

IC Markets offers MT4, MT5, and cTrader — the most comprehensive platform trio in the ECN space. MT4 suits traders with legacy EAs or who prefer the simpler interface. MT5 adds more timeframes and order types. cTrader is preferred by scalpers for its depth of market visibility and Level 2 pricing.

All three platforms access the same liquidity pool, so you're not sacrificing execution quality by choosing your preferred interface. No proprietary app — IC Markets focuses on the established platforms rather than building their own.

Execution Quality

IC Markets routes through 25+ liquidity providers and averages sub-40ms execution. In our testing, fills were accurate with minimal slippage on normal market entries. During major news events (NFP, CPI), spreads widen as expected but recover quickly.

No restrictions on scalping, hedging, or EAs — strategies that some brokers quietly discourage or restrict. This open-policy approach is why IC Markets is popular among algo traders.

Deposits & Withdrawals

Minimum deposit is $200. Supported methods: credit/debit cards, bank wire, PayPal, Skrill, Neteller, POLi, BPAY (Australia). Deposits via cards and e-wallets are instant. Wire takes 1–3 business days.

Withdrawals process back to the original deposit method. IC Markets has a strong reputation for fast, problem-free withdrawals — consistently one of the better brokers in our testing for fund access turnaround.

Who Is IC Markets Best For?

Our Verdict