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IC Markets Review 2024

Written by
Adam N.
Fact checked by
Krisztián G.
Updated
1d ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
26,637 people chose this broker
Not available in United States; see best alternatives

Why choose IC Markets

IC Markets is highly recommended for forex traders, mostly because of its low trading fees. I won’t be lying to you: it’s the super tight spreads that keep me coming back to IC Markets, though its currency pair selection is also quite impressive. Beginners may find IC Markets’s industry-standard MetaTrader platform outdated and clunky, but seasoned traders will welcome its familiar features.

  • Low forex fees
  • Easy and fast account opening
  • Free deposit and withdrawal
  • Offers standard and raw spread accounts
Overall score
4.5/5
Minimum deposit
$200
FX fee
Low
Index CFD fee
Low
Withdrawal fee
$0
Account opening
1 day
Visit IC Markets

74.32% of retail CFD accounts lose money

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Fees

Score: 4.4/5
IC Markets has low trading and non-trading fees. There is no inactivity or withdrawal fee. On the negative side, financing rates for CFDs are high.
  • Low trading fees
  • Low non-trading fees
  • Low forex fees

We compared IC Markets's fees with two similar brokers we selected, Pepperstone and Vantage. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of IC Markets alternatives.

Low FX fees

IC Markets charges a forex commmission: $3.50 commission per lot per trade. Spread costs come on top of this, e.g. the EUR/USD spread is 0.0.

Broker
EURUSD spread
FX commission per lot
IC Markets
0.0
$3.50 commission per lot per trade
Pepperstone
0.1
$3.50 commission per lot per trade
Vantage
0.1
$3.00 commission per lot per trade
IC Markets forex spreads and commissions

Low index CFD fees

All index CFD fees are built into the spread. The spread for S&P 500 index CFDs is 0.2.

Broker
S&P 500 CFD spread
IC Markets
0.2
Pepperstone
0.4
Vantage
0.4
IC Markets index CFD spreads and commissions

Low stock CFD fees

The commission for stock CFD trading is the following: $0.02 per share.

Broker
Apple CFD
IC Markets
$0.3
Pepperstone
$0.7
Vantage
$6.8
IC Markets stock CFD spreads and commissions

No inactivity fee, low withdrawal fee

There are no inactivity, deposit or account fees. There is no fee for withdrawing funds when using credit/debit cards, electronic wallets or international bank transfers.

Broker
Inactivity fee
Withdrawal fee
IC Markets
$0
Pepperstone
$0
Vantage
$0
IC Markets inactivity, withdrawal and other fees

Safety

IC Markets is regulated by several financial authorities globally, including the top-tier ASIC. On the negative side, the company is not listed on any stock exchange and does not disclose financial information publicly.
  • Negative balance protection
  • Long track record
Read more

Deposit and withdrawal

Score: 4.9/5
IC Markets's deposit and withdrawal services are great, with many options available, mostly free of charge. On the negative side, withdrawal can only be made in the same way that funding happened.
  • Credit/Debit card available
  • No deposit fee
  • Several account base currencies
Read more

Account opening

Score: 5/5
The account opening process at IC Markets is user-friendly and fully digital. Our account was approved within a day, which is very fast.
  • Fast
  • Fully digital
  • Low minimum deposit
Read more

Mobile app

Score: 3.3/5
IC Markets has a great mobile trading platform offered by MetaTrader 4. It has a catchy design and it's easy to use. Nevertheless, the platform lacks a safe login.
  • User-friendly
  • Good search function
  • Price alerts
Read more

Desktop platform

Score: 3.4/5
In design and functionality, IC Markets's MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that here you can set price alerts.
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
Read more

Product selection

Score: 2.4/5
At IC Markets, you can trade only forex and CFDs. In other words, many popular asset classes, such as real stocks and ETFs, are not available.
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“I’d recommend IC Markets to anyone looking for a forex/CFD broker with favorable pricing. I was especially impressed by its stock CFD range. The $200 minimum deposit could be a drawback, but it’s actually not excessive for a forex/CFD-only broker. The MT4 platform may look awkward, but it’s the favorite choice of many professional traders. I also enjoyed the copy trading function offered via ZuluTrade; it’s a good inspiration for trading ideas as long as you keep risks in mind.”

FAQ

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Author of this review

Adam Nasli

Financial Wizard | Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

Visit IC Markets 74.32% of retail CFD accounts lose money

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