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Written by: Ádám N. Updated: Dec 2022
Expert verified
Recommended for
  • forex trading 4.3/5
Trusted broker
Regulated by top-tier financial authorities
Popularity
4,694 people chose this broker in the last 6 months
BrokerChooser Score
4.5/5

IC Markets review summary

If low-cost forex/CFD trading is all you’re after and you’re not very picky about your choice of platform, Australia’s IC Markets is a worthy option. It has a competitive product selection that includes crypto; and a flexible fee structure offering very tight spreads with a reasonable commission. You can set up your account in no time and enjoy various deposit and withdrawal options, all free of charge. IC Markets is not recommended for long-term investors, as you can’t trade stocks, ETFs or funds. The MetaTrader platform used by IC Markets has its limitations in design and functionality but will be familiar to many forex traders.

IC Markets has a reasonably long track record and is overseen by quality regulators globally, including Australia’s ASIC. In addition, investor protection is provided for most European clients.

You can't open an account at IC Markets if you live in United States. See the best alternative available in your country.

IC Markets pros and cons

Pros Cons
Low forex fees Limited product selection
Easy and fast account opening Slow live chat support
Free deposit and withdrawal No investor protection for non-EU clients
Offer standard accounts and raw spread accounts

IC Markets main highlights

🗺️ Country of regulation Cyprus, Australia, Seychelles
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $200
🕖 Time to open an account 1 day
💳 Deposit with bank card Available
👛 Depositing with electronic wallet Available
💱 Number of base currencies supported 10
🎮 Demo account provided Yes
🛍️ Products offered Forex, CFD, Crypto
To read much more details about the broker's services and features, expand on the sections below.

IC Markets review
Fees

4.6
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.
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IC Markets review
Account opening

5.0
The account opening process at IC Markets is user-friendly and fully digital. Our account was approved within a day, which is very fast.
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IC Markets review
Deposit and withdrawal

4.9
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 way that funding happened.
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IC Markets review
Web trading platform

2.8
The web trading platform of IC Markets is provided by MetaTrader. The platform is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and the design is outdated.
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IC Markets review
Mobile trading platform

3.8
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.
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IC Markets review
Desktop trading platform

3.4
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.
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IC Markets review
Markets and products

2.2
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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IC Markets review
Research

3.8
IC Markets has great research tools, including trading ideas based on technical tools, quality news, and good charting tools. However, fundamental data is not provided.
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IC Markets review
Customer service

4.5
IC Markets has great phone and email support and has a 24/7 availability. On the negative side, its live chat is not the best quality and slow.
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IC Markets review
Education

4.5
IC Markets does a great job when it comes to education services. It offers great quality tools on its website including a demo account, trading platform videos and educational articles.
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IC Markets review
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.
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IC Markets review
Bottom line

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IC Markets review
FAQ

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Author of this review

Ádám Nasli

Author of this review

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo trading, programming and trading.

Ádám Nasli

Analyst Head

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo trading, programming and trading.

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

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74.32% of retail CFD accounts lose money

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