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Is IC Markets free?

Your expert
Adam N.
Fact checked by
Updated
1w ago
Personally tested
Data-driven
Independent

Is IC Markets free as of September 2024?

Disclaimer: 70.64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

IC Markets does not provide access to real stock trading on US markets. If you are looking for a zero-commission broker to trade on US stock exchanges, you can check our article detailing the best apps offered in this category of brokers. If you wish to stick with IC Markets though, then you will find the fees they charge below.

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70.64% of retail CFD accounts lose money

Overall score
4.5/5
Minimum deposit
$200
FX fee
Low
Index CFD fee
Low
Withdrawal fee
$0
Account opening
1 day
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70.64% of retail CFD accounts lose money

Overview of IC Markets fees and charges

It's safe to say that IC Markets's fees are low in general. They either don't charge a brokerage fee for things that other brokers do, or they only charge a small amount.

Here's a high-level overview of IC Markets's fees

IC Markets Fees snapshot
Assets Fee level Fee terms
US stock fee - Not available
EURUSD fee Low MetaTrader raw spread account: $3.50 commission per lot per trade plus spread cost. 0 pips is the average spread cost during peak trading hours.
US mutual fund fees - Not available
Inactivity fee Low No inactivity fee

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70.64% of retail CFD accounts lose money

IC Markets fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely because online brokerages' businesses can be much better scaled: from a purely technical standpoint, it doesn't make that much of a difference for them if they have 100 or 5,000 clients.

This is not to say, however, that they don't charge any fees at all. They make money by charging you various rates for various actions or events. Usually you need to keep an eye on the following three types of fees:

  • Trading fees - these are brokerage fees that you pay when you actually carry out a trade, like buying an Apple share or an ETF. What you pay is either a commission, a spread or a financing rate. Some brokers apply all of these.
    • A commission is either fixed or based on the traded volume.
    • A spread is the difference between the buy price and the sell price.
    • A financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
  • Non-trading fees. These are usually related to some operations you carry out in your account, such as depositing money, withdrawing money, or not trading for an extended period.

We compare IC Markets fees with its closest competitors, Pepperstone and Vantage.

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70.64% of retail CFD accounts lose money

IC Markets trading fees

IC Markets's trading fees are low, which makes it suitable for you even if you trade often (i.e. several times a week).

Let's break down trading fees according to the different asset classes available at IC Markets.

Trading fees

IC Markets's trading fees are low.

Forex fees

IC Markets's forex fees are low.

Forex fees of a $20,000 30:1 position (open, 1-week-hold and close)
EURUSD benchmark fee
$9.5 $9.7 $9.8
EURGBP benchmark fee
$9.6 $10.4 $11.2

Data updated on September 23, 2024

CFD fees

IC Markets has low CFD trading fees.

CFD fees and commissions on a $2,000 trade
Apple CFD
$0.3
$0.7
$6.8
Vodafone CFD
$2.6
$2.2
$13.1
Germany
-
-
-

Data updated on September 23, 2024

Currency conversion fee

IC Markets will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: Exchange rate received from liquidity providers plus a mark-up. We used the EURUSD trading fees for the calculation..

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70.64% of retail CFD accounts lose money

IC Markets non-trading fees

When it comes to non-trading fees, IC Markets is a rather cheap broker.

Non-trading fees include various brokerage fees and charges at IC Markets that are not related to buying or selling assets. This can be a withdrawal fee, deposit fee, inactivity fee or account fee.

A high-level overview of how IC Markets stacks up in terms of non-trading fees
Withdrawal fee
$0
$0
$0
Deposit fee
$0
$0
$0
Inactivity fee
No
No
No
Account fee
No
No
No

Data updated on September 23, 2024

Visit broker
70.64% of retail CFD accounts lose money

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

70.64% of retail CFD accounts lose money

IC Markets deposit fee

Usually, brokers don't charge anything for deposits, and IC Markets is no different.

IC Markets deposit methods
Bank transfer
Yes Yes Yes
Credit/debit card
Yes Yes Yes
Electronic wallets
Yes Yes Yes
Deposit fee
$0
$0
$0

Data updated on September 23, 2024

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70.64% of retail CFD accounts lose money

IC Markets withdrawal fee

IC Markets generally doesn't charge a withdrawal fee.

IC Markets withdrawal fees and options compared
Bank transfer
Yes Yes Yes
Credit/debit card
Yes Yes Yes
Electronic wallets
Yes Yes Yes
Withdrawal fee for bank transfer
$0
$0
$0

Data updated on September 23, 2024

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70.64% of retail CFD accounts lose money

IC Markets inactivity fee

IC Markets does not apply an inactivity fee, which is great because your account won't be charged even if you do not trade for an extended period (like several months or years).

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70.64% of retail CFD accounts lose money

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.

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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.

author
Adam Nasli
Author of this article
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.
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