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

3.599 • 2084 REVIEWS
International Capital Markets Raw Trading Ltd
Updated: Apr 21, 2024
ICMarkets.com

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!

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.

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 to Open Live: $200
Established: 2007
Address: Level 4, 50 Carrington Street, Sydney, NSW 2000, NSW 2000, Australia
Contact: support@icmarkets.com, +61 (0)2 8014 4280
Regional offices:
Regulators: ASIC #AFSL No. 335692, SCB #SIA-F214, CySEC #362/18, FSA-S #SD018, FSCA #50715
Prohibited countries:
Trading platforms: MT4, MT5, cTrader, Trading Central
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 Trading: βœ… Yes
Scalping: βœ… Yes

Managed Accounts & Social Trading

MAM: βœ… Yes
PAMM: ❌ No
ZuluTrade: βœ… Yes
Copy Trading: βœ… Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, AloGateway, B2B, Ecommpay, FasaPay, Ngan Luong, PayPal, PayToday, SafeCharge, SEPA (Single Euro Payments Area), Skrill, Trust Payments
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, AstroPay, Local Bank Transfers, Neteller, Ngan Luong, PayPal, Skrill, TrustPay
* Please check broker website for more information
3.599 • 2084 REVIEWS

IC Markets Most Helpful Customer Reviews

A
Anna
Barcelona, Spain,
Oct 11, 2021,
Guest

This is the best broker I have worked with in my 12 years of trading.

Service use: Live Length of use: over 1 Year
I have been trading with IC Markets for over 5 years.
Tight spreads, fast deposits and withdrawals. Fast order execution, no requotes. Excellent and fast support. I think this is the best broker in the Forex market.
I am pleased! This is the best broker I have worked with in my 12 years of trading.
2 traders have found this review helpful
S
slawekkrupa
Poland, Poland,
Dec 26, 2022,
Registered user

Very good service, good trading experience

Service use: Live Length of use: over 1 Year
I'm using IC Markets over long time. The support is very good, they answer most of my questions (which is not so easy in general). The trading experience on demo accounts is very good. I'm using the demo accounts mostly for developing automatic trading applications. I don't have too much experience with live trading yet, just few transactions, but I didn't have any issues so far.

Deposits by wire transfer (SEPA) are quite quick (2 days), however some other brokers have them quicker (1 day for booking with almost online info the the money already arrived). I know this is the Bank issue not the broker probably but this is the point for improvement (that's why I give 4 stars, not 5).

I didn't tried withdrawals yet and as I can see some other comment it have to be tested...
1 trader has found this review helpful
D
dejaeoke
London, United Kingdom,
Jul 4, 2023,
Registered user

Update on review from 27th June.

Service use: Live Length of use: over 1 Year
After having issues with my withdrawals because of a replaced bank card. I was reached out by the supervisor of the accounts team to look into the matter. Icmarkets had apologised for the inconvenience caused and as a gesture of goodwill had offered compensation for the unsatisfactory experienced i had. Furthermore, the supervisor took it a step further and advised me to contact him personally for whatever help i need which was assuring. As a result of this experience, I think it is fair to say this broker is willing to resolve situations that benefit both parties which makes it a reliable and trustworthy broker so you can sleep at ease. Brilliant.

Jun 28, 2023 - 1 Star A couple weeks ago I was in contact with the accounts team to change my withdrawal method as the cards registered were no longer in date. Little did I know how complicated this would’ve been.

After few days of chasing bank letters and statements and the constitution of humanity, the method was changed but not completely. Anyhow, when that process was done and dusted I was able to withdraw from one of my accounts.

However, I have tried all methods to withdraw from my other trading account and it keeps getting declined because it’s asking me to withdraw to the cards that no longer exists?!

You would assume after chasing bank letters and my mums drop of blood from 1739. There is no need to mention the details of the card that are no longer active. But yet here I am, few weeks later from accounts team confirming all is done and dusted. That I am writing a negative review to reflect my atrocious experience.

If you love your hair and want it to stay, avoid ICmarkets. They will make you run around the country before you can even access your funds.

Always research what the company policy is regarding withdrawals and most importantly how the companies process works when the deposited card is no longer active. Because more often than not, it is just a waste of time.

As I always say, they love to take money instantly. But when you want your money back, they want prove it is your money. Oh the atrocities
1 trader has found this review helpful
D
danney5215
Taiwan, Taiwan, China,
Jul 14, 2023,
Registered user

Outrageous!! IC Markets has taken $436,668 from me

Service use: Live Length of use: over 1 Year
IC Markets has taken $436,668 from my accounts.

I am a VIP client of IC in Taiwan.
Over the past few years, I have deposited over $10 million with IC MARKETS.
I am one of the few high net worth clients with a large capital.
I have always believed that IC MARKETS is a very fair company.
I have been operating several million dollars with them, and I have been the trading champion in the FOLLOWME trading competition for three consecutive sessions!
I am a well-known investor in the market!

On June 7th of this year, IC MARKETS deducted $436,668 from my five accounts, which is the money for a house!
Then they claimed that their US2000 had a setup error between March 8th, 2023, and May 15th, 2023.
I cannot accept this claim at all. Their mistake should not be borne by me.
I have been checking and trading according to the MT4 values announced by IC every day. If we cannot trust the rules announced on MT4 and cannot use them as a standard, what can we investors trust?
If I had taken a different direction today and they had charged me more interest, I believe they wouldn't compensate me.
IC has many products in the market that are not the best, and they haven't compensated me for the overnight fees I was undercharged for all these years. Why did they suddenly say there was an error with US2000 and deduct a huge fee from my account? Is it because I started winning a lot of money this year?

ASIC has already accepted this case and has requested a response from IC's compliance department by July 11th. I consulted with Australian lawyers, and they say that IC has violated the law.
I found some small investors on the website who have already received this money, but so far, they haven't dealt with my significant fee.
I know many investors have encountered this issue, and recently.

Please return my property of $436,668 to me quickly!
3 traders have found this review helpful
D
Reply by IC Markets submitted Jul 18, 2023:
Dear Danney5215,

Thank you for your feedback.

We would like to state at this point that this matter has already been discussed within our internal communication with yourself.

We note your stance on this matter and we wish to clarify it is not our intention for you to have a negative experience with us and have appreciated our client relationship over the years. We understand the frustration, however, when technical errors are identified, it is our obligation and right to make such adjustments in cases of any errors to rectify any material differences caused by incorrect prices or swap rates.

Kind Regards,
IC Markets
F
FxPhil
Dubai, United Arab Emirates,
Mar 10, 2023,
Registered user

Excellent Broker

Service use: Live Length of use: over 1 Year
I'm in forex since almost 10 years. The majority of that time I have traded with ICMarkets.
I never had any issue with them. Fast execution, instant deposits with a large choice available and fast withdrawals.
I met a lot of brokers along my trading way, but IC is definitely one of my top 3!
F
Reply by IC Markets submitted Mar 15, 2023:
Dear FxPhil,

Thank you for the wonderful feedback regarding our services and trading conditions.

We are pleased to hear that you have been with us for about 10 years and have had great experiences. We hope to always meet your expectations and remain at your disposal for any assistance.

Kind regards,
IC Markets Team

Recent User Reviews of IC Markets

A
Aleeessandroo
Switzerland, Switzerland,
Apr 15, 2024,
Registered user

Fast, executions, feeling secured and fast support

Service use: Live Length of use: over 1 Year
I trade with IC Markets for some years now, i have never had any big problems. Small problems have been solved within minutes. Thats only because support is available pretty quick, no long waiting and stuff. About payouts I feel pretty safe knowing that my money is save as long as I don't use one way of payouts from witch i did also deposit money. So nobody can take my money.
Executions, spreads and everything about trading is perfectly and fast.
1 trader has found this review helpful
V
Vmeste
Tallinn, Estonia,
Apr 10, 2024,
Registered user

Very bad experience.

Service use: Live Length of use: over 1 Year
There was a 50 percent stopout. All of a sudden today, the stopout is 75 percent.
I immediately contacted support.
It doesn't help.

Apr 10, 2024 - 5 Stars Thank you Icmarkets for many years of cooperation. It was the best experience compared to all other brokers.
1 trader has found this review helpful
S
salim4fr
Antwerpen , Belgium,
Apr 9, 2024,
Registered user

Swap problems

Service use: Live Length of use: over 1 Year
after closing market on Friday 05 April 2024 I don't receive my triple swap on xngusd, this morning Friday 05 april 2024 take a screenshot and my swap was at 289.42 and after closing the market it was reduced to 284.62 something is wrong see attachments
the swap was always in my favor because I don't want to close my position they changed the swap to their advantage to force me to close my position in a loss
I have asked for help but cannot get my benefit swap back
what I've noticed lately is that icmarkets.com just cheats customers and makes them lose money
Even after 6 years of having a free swap account, in January they forced me to have a swap account or pay fees, they started charging fees without notifying me

Kind regards
Mohammed Zerouali

Jun 25, 2020 - 1 Star The strangest thing I encountered with icmarkets is when I analyze a particular currency and it is 100% correct. And with the entry, the deal reverses its direction. I got with more than 200 times, and in the end I knew they were entering deals against me.
S
Reply by IC Markets submitted Apr 18, 2024:
Dear Mohamed Zerouali,

We appreciate your feedback and the concerns you have raised.

We can see that you’ve been in touch with us and our team have provided a full extended response to your concerns explaining the factors affecting swap rates change, particularly on XNGUSD. As advised, the two prominent factors are the Risk-free interest rate component and the adjustment factors for the underlying future contracts rolled by the Liquidity providers. For any traders who are in doubt, we recommend to benchmark the rates with other reputable brokers.

We’d also like to apologize for the frustration caused due the updates on the Islamic account trading terms and conditions. Please be advised we did notify all clients prior the change took place January 4th.
We are happy to discuss any further concerns you many have surrounding this.

Kind Regards,
IC Markets Team
T
tomecki
Dublin, Ireland,
Apr 8, 2024,
Registered user

Top class broker with excellent support

Service use: Live Length of use: over 1 Year
I have never experienced any problems with ICmarkets since I registered with them few years ago. Extremely low spreads and perfect support response time let me fully recommend Icmarkets for every beginner and pro traders.
B
bonqz
Johannesburg, South Africa,
Apr 6, 2024,
Registered user

Reliable broker

Service use: Live Length of use: over 1 Year
IC Markets has been the best choice on my trading journey. It’s secure and simple to use. I recommend it to anyone seeking a trustworthy platform for their trading career.

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.