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Verified Review 2025

IC Markets Review 2025 — Complete IC Markets Guide & Cashback

Say Affiliates Editorial Team Updated 05 May 2025 13 min read 4.9 / 5
Regulation ASIC · CySEC · FSA
Min. Deposit $200
Raw Spread Avg. 0.02 pips
Execution Speed Avg. 36ms
4.9/5
Overall Rating
Get IC Markets Cashback
ASIC · CySEC · FSA Triple Regulation
0.02 pips EUR/USD Avg. (Raw)
36ms Avg. Execution Speed
2,250+ Instruments

IC Markets (International Capital Markets) is the world's largest true ECN forex broker by trading volume, founded in Sydney, Australia in 2007. Triple-regulated by ASIC, CySEC, and FSA, it processes over $1.2 trillion monthly across 180,000+ active clients. In this complete 2025 review we cover accounts, platforms, fees, and how to earn cashback on every trade through Say Affiliates.

IC Markets Key Highlights
  • Triple regulation: ASIC · CySEC · FSA
  • Average EUR/USD raw spread of just 0.02 pips
  • Lightning-fast execution — average 36ms
  • MT4, MT5, and cTrader all supported
  • 2,250+ instruments including 1,700+ share CFDs
  • No inactivity fees, negative balance protection
  • Free VPS for active algorithmic traders
  • Cashback on every lot via Say Affiliates
Rating Breakdown
Regulation & Safety
5.0/5
Trading Conditions
5.0/5
Platforms
4.9/5
Education & Research
4.2/5
Customer Support
4.8/5

IC Markets — Quick Facts

Founded2007, Sydney, Australia
RegulationASIC · CySEC · FSA (Seychelles)
PlatformsMT4 · MT5 · cTrader
Min. Deposit$200 (all account types)
Spreads From0.0 pips Raw · 1.0 pip Standard
Commission (Raw)$3.50/side MT4/5 · $3.00/side cTrader
Execution SpeedAverage 36ms — true ECN
LeverageUp to 1:500 FSA · 1:30 ASIC
Instruments2,250+ across 7 asset classes
Deposit MethodsCard · PayPal · Skrill · Neteller · Crypto
Table of Contents
  1. IC Markets Overview
  2. Regulation & Safety
  3. Account Types
  4. Trading Platforms
  5. Markets & Instruments
  6. Spreads & Fees
  7. Deposits & Withdrawals
  8. Education & Research
  9. Customer Support
  10. IC Markets Cashback
  11. Pros & Cons
  12. Verdict
  13. FAQs

1. IC Markets Overview

IC Markets is the world's largest true ECN forex broker by trading volume. Founded in 2007 in Sydney, Australia, it has grown to serve 180,000+ clients across 200+ countries, processing over $1.2 trillion in monthly trading volume.

IC Markets built its reputation on genuine ECN execution — no dealing desk, no re-quotes, raw interbank spreads averaging 0.02 pips on EUR/USD, and industry-leading 36ms average execution speed. This makes it the benchmark choice for scalpers, algorithmic traders, and high-frequency traders worldwide.

2. Regulation & Safety

IC Markets holds three regulatory licences — making it one of the most heavily regulated retail brokers in the world:

ASIC — Australia

AFSL No. 335692. Strictest global standard. Segregated funds, 1:30 retail leverage cap.

Top-tier regulator

CySEC — Cyprus (EU)

Licence No. 362/18. MiFID II compliant. €20,000 Investor Compensation Fund.

Top-tier regulator

FSA — Seychelles

Global clients outside ASIC/CySEC zones. Up to 1:500 leverage. Segregated accounts.

Regulated
IC Markets enforces negative balance protection across all account types — you cannot lose more than your deposited funds.

3. Account Types

4. Trading Platforms

MetaTrader 4

Full EA ecosystem, 30+ indicators, VPS support, and one-click trading.

Expert Advisors VPS Support
MetaTrader 5

21 timeframes, 38 indicators, multi-threaded backtester, stocks & futures access.

Multi-asset Backtesting
cTrader

Level II depth of market, detachable charts, cAlgo C# scripting, and lowest $6.00/lot commission.

Depth of Market cAlgo (C#)

5. Markets & Instruments

IC Markets offers 2,250+ instruments — one of the widest ranges of any retail broker:

Forex 61 pairs
Indices 25 global
Commodities Gold, Oil, Agri
Crypto 13 CFDs
Stocks 1,700+ CFDs
Bonds T-Bonds, Bunds, Gilts
Futures Commodity & Index

6. Spreads & Fees

Standard Spread ~1.0 pip EUR/USD, no commission
Raw MT4/5 Cost ~$7.02/lot 0.02 pip + $7.00 commission
cTrader Cost ~$6.02/lot 0.02 pip + $6.00 commission

No inactivity fees. No deposit or withdrawal fees. On the cTrader Raw account with Say Affiliates cashback, your effective round-turn cost can drop to near zero.

7. Deposits & Withdrawals

Visa / MastercardInstant deposit
PayPalInstant both ways
Skrill / NetellerInstant both ways
Bank Transfer2–5 business days
Cryptocurrency (BTC)Typically within 1 hour
UnionPay / BpayRegion-specific options
Deposit / Withdrawal FeeNone (provider fees may apply)

8. Education & Research

Resource Trading Central Integrated technical signals and market commentary in the client portal.
Resource Autochartist Automated chart pattern and Fibonacci recognition tool.
Resource Daily Market Updates Key levels, trade ideas, and macro event previews.
Resource Economic Calendar Impact ratings and consensus forecasts built into all platforms.

9. Customer Support

Live Chat24/7 — typically <1 min response
Emailsupport@icmarkets.com — within a few hours
PhoneRegional lines for Australia, UK, EU & major markets
LanguagesEnglish, Chinese (Mandarin & Cantonese), Thai, Vietnamese, Arabic & more

10. IC Markets Cashback via Say Affiliates

How to Earn IC Markets Cashback
  • Register a free Say Affiliates account
  • Open IC Markets via your unique Say Affiliates link
  • Trade any instruments — forex, indices, commodities
  • Earn cashback automatically — credited weekly
  • Works on Standard and Raw Spread accounts
  • Withdraw anytime — no hold period

With cTrader Raw costing ~$6.02/lot round-turn, adding Say Affiliates cashback makes IC Markets one of the most genuinely cost-efficient regulated trading environments for any retail trader in 2025.

11. Pros & Cons

Pros
  • Triple regulation: ASIC, CySEC, FSA
  • Average 0.02 pip EUR/USD raw spread
  • cTrader lowest $6.00/lot commission
  • 2,250+ instruments including 1,700+ shares
  • 36ms average execution speed
  • No inactivity fees
  • Scalping, HFT, and EA trading fully supported
  • Free VPS for active traders
  • Negative balance protection on all accounts
Cons
  • Higher $200 minimum deposit
  • Education resources limited vs. beginner brokers
  • No proprietary web trading platform
  • Crypto range limited to 13 pairs

12. Verdict

Our Verdict 4.9 / 5

IC Markets earns a near-perfect score and is our top-rated broker for active and professional traders. Triple regulation by ASIC, CySEC, and FSA provides exceptional security. Raw spreads averaging 0.02 pips, cTrader's $6.00 round-turn commission, 36ms execution, and 2,250+ instruments make it the objective benchmark for low-cost, high-performance trading. Paired with Say Affiliates cashback, IC Markets is the most cost-efficient regulated trading environment available to retail traders worldwide in 2025.

13. Frequently Asked Questions

Yes. IC Markets is regulated by ASIC (AFSL No. 335692), CySEC (Licence No. 362/18), and the FSA in Seychelles. Client funds are held in segregated accounts with negative balance protection on all account types.
All IC Markets live account types — Standard, Raw MT4/5, and Raw cTrader — require a minimum deposit of $200. A free unlimited demo account is available with no deposit.
Standard accounts have no commission but wider spreads (~1.0 pip). Raw accounts start at 0.0 pips with a per-lot commission ($3.50/side on MT4/5, $3.00/side on cTrader) — significantly better value for active traders.
Yes. IC Markets explicitly supports scalping, hedging, and Expert Advisors (EAs). Genuine ECN execution means no dealing desk, no re-quotes, and no restrictions on trading strategy.
IC Markets charges zero deposit or withdrawal fees. E-wallets (PayPal, Skrill, Neteller) are typically instant and fee-free. International bank transfers may incur fees from your bank.
Register a free Say Affiliates account, open your IC Markets account through your unique referral link, and automatically earn cashback on every lot you trade — credited to your Say Affiliates wallet weekly.
cTrader is a professional trading platform with Level II Depth of Market, cAlgo C# scripting, and detachable charts. IC Markets charges $3.00/side/lot on cTrader vs $3.50/side on MT4/5 — saving $1.00 per round-turn lot.

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