IC Markets review: Regulations, Platforms, Trading instruments, and user ratings.

3.615 · 1915 REVIEWS

International Capital Markets

Raw Trading Ltd

Updated: Aug 11, 2022 · ICMarkets.com  · Is this your company?

5 star IC Markets review by Giu, Switzerland

IC Markets is in my opinion the best broker you can find on the market at the moment. Their support is always online and really always superfast and helpful. Also, the spreads and order execution works flawlessly. Deposit and withdrawal also go smoothly. Weaknesses I see in the limits of the number of accounts that can be created. Unfortunately, even created accounts (demo) can no longer be deleted, so that you eventually get to the limit. All in all very recommendable!
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What is the IC Markets?

IC Markets is an Australian forex broker established in 2007 and regulated by ASIC, CySEC, SCB (Bahamas), FSA (Seychelles), and FSCA (South Africa).

IC Market offers popular MT4, MT5, and cTrader trading platforms; all are available for desktops, web browsers, and mobile devices.

ICM Trading instruments include over 60 currencies, 10+ Cryptocurrencies, and over 1,600 CFDs including Gold, Silver, Stocks, Indexes, Bonds, and more.

ICMarket also offers VPS service, cAlgo FIX API, more than 20 MT4 add-ons and indicators, educational content, Myfxbook AutoTrade, ZuluTrade, and market analysis blog.

Please read IC Markets Reviews below and share live trading experiences with this broker.

IC Markets
2020-10-08:  CONSOB of Italy has issued a warning against and blocked internet access to Raw Trading LTD - ICMarkets.com.  CLICK HERE to verify.

January-February 2015:  A large number of suspicious and fake positive reviews have been submitted for IC Markets.

Other websites of this company include ICMarkets.com.au and ICMarkets.eu

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum Deposit: $200
Established: 2007
Address: Level 4, 50 Carrington Street, Sydney, NSW 2000, NSW 2000, Australia
Customer Service: support@icmarkets.com, +61 (0)2 8014 4280
Regional offices:
Regulations: ASIC #AFSL No. 335692, SCB #SIA-F214, CySEC #362/18, FSA-S #SD018, FSCA #50715
Prohibited countries:
Trading platforms: MT4, MT5, cTrader
Web Trading: βœ… Yes
Mobile Trading: βœ… Yes

Trading Instruments

Currencies: (60+)
Cryptocurrencies: (10+) Bitcoin, Litecoin, Ethereum
CFD: (1600+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities

Trading Conditions

EAs/Robots: βœ… Yes
News Spike Trading: βœ… Yes
Scalping: βœ… Yes

Managed Accounts & Social Trading

MAM: βœ… Yes
PAMM: ❌ No
ZuluTrade: βœ… Yes
Deposit Methods: Bank Wire (Bank Transfer), VISA, MasterCard, BPAY, FasaPay, Klarna, Local Bank Transfers, Neteller, PayPal, Poli, Rapid Pay, SafeCharge, Skrill, Transfer from Existing Broker, UnionPay
Withdrawal Methods: Bank Wire (Bank Transfer), VISA, MasterCard, Local Bank Transfers, Neteller, PayPal, Skrill

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3.615 · 1915 REVIEWS
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Traders Reviews

Di,
London, United Kingdom,
Aug 10, 2022,
Guest

So far, so good

Service use: Live

Length of use: 3-6 Months

Very fast service support, trades work well and deposit too.

I am not using it for a long time, but so far I am satisfied with them.
 
Budapest, Hungary,
Aug 9, 2022,
Registered user

Excellent and honest broker

Service use: Live

Length of use: 3-6 Months

Excellet support, great execution and competitive spreads. They also have cTrader which is the best platform for ECN.
 
Markus,
S, Germany,
Aug 9, 2022,
Guest

Never had any problems

Service use: Live

Length of use: over 1 Year

very fast and good customer support, cant say anything bad about the services. spreads could be a little bit better but it is okay
 
Vrancea, Romania,
Aug 7, 2022,
Registered user

Best in the game so far !

Service use: Live

Length of use: over 1 Year

Fast execution on deposit /withdrawls an much more ! I love about the they have nice spreed and good accounts with diffrent leverages !
 
Rubin,
Germany, Germany,
Aug 3, 2022,
Guest

The best broker you can find

Service use: Live

Length of use: over 1 Year

For me is the best broker, multiple deposit/withdraw options, very tight spread on raw accounts and the costumer service is 10/10. Till now i didn't had a single issue with icmarkets.
10/10 recommended.
 
Miguel Maricato,
Alcochete, Portugal,
Aug 2, 2022,
Guest

Service use: Live

Length of use: 0-3 Months

Amazing service, excellent raw spreads broker. Fast withdrawl with amazing customer service response! Only good things!
 
Nick,
Udaipur, India,
Aug 2, 2022,
Guest

excellent

Service use: Live

Length of use: over 1 Year

excellent platform and very good customer service , i really like ic markets and will always use it ...
 
Nathan,
Denmark, Denmark,
Aug 1, 2022,
Guest

Great leverage, spreads, execution time and fast customer response

Service use: Live

Length of use: over 1 Year

I use the cTrader platform and the execution time and spread (except at certain market hour times - that is not IC Markets fault) is great.

Sending in documentations and having the approved is also fast.

The customer service is also very fast and helpful.

There is only 1 reason why it is a 4 star review and not a 5 stars:

First reason is because, from a short period of time the website did not accept clients from the EU. They could only be accepted with the EU-rules that have lower leverage. This made me very anxious and I hope that does not happen, and we can keep having the great leverage benefits.
 
Grand Master,
Midrand, South Africa,
Jul 30, 2022,
Guest

The best broker I have ever found

Service use: Live

Length of use: 0-3 Months

I joined IC Markets on the 1st week of July 2022 and I have been using their services since. I was just testing them out and I deposited $10 which is now $180 and withdrew the rest. I love their spreads because they are very low and even when the market is highly volatile, the spreads do not get ridiculous. I will now be transferring all my money to them because they feel like home. Even when I need support they are always there to help. Trading with a broker that is regulated in different regions is one of the best things that has ever happened to me because now when I lose in the markets. I know that I only have myself to blame and not my trusted broker. It feels good to be with a transparent broker
 
Port Harcourt, Nigeria,
Jul 29, 2022,
Registered user

A very crafty broker

Service use: Live

Length of use: over 1 Year

Before I begin my review, I want you all coming here to make sure you take note of reviews that are more than 3 years. They tell you the truth from a wealth of experience. I will speak frankly about this broker and I will let you be the judge. Because I started using them since 2017, that's over 5 years ago.

Now this is my experience:
When I first started using IC Markets when they were regulated in Australia by ASIC I had no issues, they were great. Infact this were their strengths:

1. Fast Trade Execution time.
2. Fast Withdrawals and Deposits
3. No trading surprises

Then in 2018, I used a vps that worked with IC Markets or they recommended. I had made lots of cash in just 3 months and I was using a copier to copy trades on the terminals on their vps. Long story short I lost over $100,000 total on all those terminals as trades I closed on the master was still running on the slaves on the Vps for over a month. I got an email about unusual activity or was it high activity on my accounts and I noticed it was the slaves on the vps. When I tried to log into the vps, I couldn't. I had to email them and before they responded the accounts had crashed. I checked the account history and discovered that it was because trades I closed on the master was still running on the slaves on the terminals. I messaged IC Markets on this and they said the fault was not with them but to check the vps providers. I emailed the vps providers who owned up and apologised and said their back up server did not come up after the main one crashed.

Till today no refund, instead the vps providers recommended by IC Markets blocked my ability to message them, and deleted all our correspondence via email. Do you see the triangle of the fraud. What they do not know is that before they did all that I had taken screenshots and will seek legal redress on both IC Markets and them.

Moving on from there they moved us who are not in Australia to Seychelles, stating that ASIC had changed trading laws to be more strict. So in other to still be with them we have to follow them to Seychelles. I did and that was my biggest mistake. They are afraid of ASIC, in Seychelles regulations are not as strict.

Now everything remained the same as when I used them in Australia until I noticed the increment in over night spread which was not noticeable when I used them in Australia. During these times a great amount of your margin is claimed and you can see spreads of 0.1 to 0.8 on a symbol sky rocket to 20 - 30 and above. I discovered this when I put a spread indicator. It even worsens if you manage your trades with hedges.

I will advice everyone to look for brokers that switch of their servers during these times. Do your self this favour or brokers that will still leave their spreads as fixed spreads in these times.

IC Markets widen their spreads so much and claim they have no control over the liquidity feeds. But when I compare this with other brokers that I use with same copied trades the gap is bigger and even when things adjust after that your balance never returns to normal. Also note, they widen their spreads at other trading times not just at these times. This has been the bane of my account crashing. People beware, this is the new way they scam us. ICMARKETS IS NOW A SCAM ESPECIALLY IF YOU ARE ON THEIR SEYCHELLES SERVER. FLEE!!!
  2 traders have found this review helpful
Reply by IC Markets submitted Aug 4, 2022:
Dear SokyBoy,

Thank you for your review.

We checked all correspondence in regards to VPS and other matters you stated in the review, however, unable to find any records that would relate to those within the past years.

As we have no clear indication that you are a client of IC Markets, we kindly ask you to contact us with more information such as your email address and/or trade account number. We will be happy to conduct a full investigation.

Regarding your comments about our regulated entities, please be assured of service, pricing, trading platforms performance, execution - everything is on the same high level across all entities. It is normal market behaviour for spreads to widen during market opening and news releases and we're always transparent with trades execution details, price logs that can be benchmarked with other reputable sources.

Please reach out to us at support@icmarkets.com with more details.

Kind Regards,
IC Markets Team

Frequently Asked Questions

πŸ‘‰ What is the minimum deposit for IC Markets?

​IC Markets minimum deposit is $200 USD for all available account types.

πŸ‘‰ Is IC Markets a good broker?

The the best way to answer if IC Markets is a good broker is to read the unbiased traders reviews on Forex Peace Army. https://www.forexpeacearmy.com/forex-reviews/8264/icmarkets-forex-brokers.

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent IC Markets community discussions: https://www.forexpeacearmy.com/community/tags/icmarkets/

πŸ‘‰ Does IC Markets have negative balance protection?

IC Markets does not offer Negative Balance Protection and your loss may exceed your account balance.

However, to try to protect you from situations like this, IC Markets accounts have stop-out level set at 50%.

This means that when margin falls below this level the system will start closing positions automatically.

In nearly all cases this should prevent the account balance going negative.

πŸ‘‰ Where is IC Market based and where are its servers located?

IC Markets headquarters are based at Level 4, 50 Carrington Street, Sydney, 2000 NSW, Australia.

IC Markets Trading servers are located at the Equinix data centers in New York and London also known as home of multiple exchanges and trading platforms.

πŸ‘‰ Is IC Market regulated?

IC Markets holds regulatory licenses from:

  • ASIC in Australia (AFSL No. 335692)
  • Securities Commission of the Bahamas (SIA-F214)
  • CYSEC in Cyprus (362/18)
  • Seychelles Financial Service Authority (SD018)
  • South African Financial Sector Conduct Authority (50715)

πŸ‘‰ Does IC Markets allow scalping?

IC Markets welcomes all trading styles including:

  • Scalping
  • News trading
  • Hedging.