Company name: IC Markets / International Capital Markets
Founded: 2007
Headquarters: Australia
Regulatators: AU ASIC / CY CYSEC / SC FSA
Minimum deposit: $200
Maximum leverage: 500:1
FEATURES:
- Competitive trading costs, industry-leading low spreads
- Fast execution speeds, and reliable servers with low latency
- Regulated by Australia’s ASIC, Cyprus CySEC and Seychelles FSA
- Trustworthy broker, high customer ratings
Note: BEST FOREX BROKERS 2023 – RATING SCORE OF 4.9 OUT OF 5.0
IC Markets is in our opinion the best Forex 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. All in all very recommendable!
IC Markets reviews by verified customers, cashback rebates, expert ratings, spreads & fees, leverage, demo accounts, downloads, trading platforms and more.
IC Markets Review | IC Markets Rebates – Forex Broker Rating
Table of Contents
We start our IC Markets review with a quick analysis of the overall ratings of this Australia-based CFDs broker.
IC Markets Overall Rating
Currently the broker receives a score of 4.9 out of 5.0.
1) IC Markets pricing: The broker scores 5 out of 5 for its competitive cost of trading. Spreads on the Standard account, with the MT4 and MT5 platforms, start at 0.6 pip, with no trading commissions. The highlight goes to IC Markets’ RAW account, available with the MT4, MT5 and cTrader. The RAW account spreads start at 0.0 pip (and most FX pairs have a typical spread of 0.0 pip), with an average commission of $7 per traded lot.
2) IC Markets regulations: With strong regulations in place, the broker scores an excellent 5 out of 5. IC Markets has entities regulated by tier-1 financial authorities, Australia’s ASIC and Cyprus CySEC, and also by Seychelles FSA (mainly catering traders looking for higher leverage limits).
3) IC Markets popularity: The broker is very popular with the trading community, and scores 5 out of 5, again, thanks to some of its unique features. IC Markets The brokerprovides traders with an excellent ECN environment trading condition, with fast execution speeds and industry-leading low spreads.
4) IC Markets user rating: Currently, the broker receives a score of 4.7 out of 5, from the verified traders with a live trading account. Most traders praise the broker for its low spreads and fast execution times.
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IC Markets Regulation / Money Protection
Currently the broker receives a score of 5.0 out of 5.0.
1) IC Markets European regulation: IC Markets (EU) Ltd is registered as a Cyprus Investment Firm (CIF), and is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). IC Markets (EU) Ltd registered office is at 141 Omonoias Avenue, The Maritime Centre, Block B, 1st floor, 3045 Limassol, Cyprus. The CySEC licence allows IC Markets (EU) Ltd to carry out brokerage activities in Europe, as an intermediary in the financial markets, respecting the MiFID obligations.
2) IC Markets Australian regulation: International Capital Markets Pty Ltd, with ACN 123 289 109, and trading as IC Markets, is licensed by the Australian Securities & Investments Commission (ASIC). International Capital Markets Pty Ltd is registered to carry out financial services business in Australia, limited to the financial services covered by its AFSL licence. The trading name, IC Markets, used by International Capital Markets Pty Ltd, is also used by the other entities.
3) IC Markets Seychelles FSA regulation: Raw Trading Ltd is registered in Seychelles with company number 8419879-2 and trading as IC Markets Global. Raw Trading Ltd has a registered address at Eden Plaza, Office 209, Eden Island, Mahe, Seychelles, and is regulated by the Seychelles Financial Services Authority (FSA) with a Securities Dealer licence, number SD018.
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Client Money Protection
IC Markets complies with the highest safety standards regarding clients’ funds, by offering segregated accounts. IC Markets client’s funds are kept fully segregated from the company’s funds, in top-tier international banks.
Regulatory Deposit Insurance
Only IC Markets (EU) Ltd offers regulatory deposit insurance. This entity is a member of the ICF, an investor compensation fund for clients of CIF companies, and is regulated by the CySEC’s directive DI87-07. In the unlikely event of insolvency, clients of IC Markets (EU) Ltd might be entitled to compensation up to the value of €20,000 per claim.
Negative Balance Protection
All of the IC Markets group entities (IC Markets (EU) Ltd, International Capital Markets Pty Ltd and Raw Trading Ltd) have an NBP mechanism in place, by default, protecting traders from any losses bigger than their original investments.
Professional Indemnity Insurance
Customers of International Capital Markets Pty Ltd (IC Markets Australia) are protected by Professional Indemnity Insurance, maintained with the Lloyd’s of London. Customers of Raw Trading Ltd (IC Markets Global) can also enjoy an extra layer of protection provided by the Professional Indemnity Insurance maintained with H Savy Insurance Co Ltd Seychelles.
IC Markets Cashback Rebates
Cash back rebates are paid per round turn lot unless otherwise specified. 1 Lot = 100,000 base currency units traded.
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Notes
Rebates are not paid for:
- Accounts registered with CySEC, Bahamas SCB,and ASIC entities.
- Residents of the Republic of Cyprus.
What Are IC Markets Rebates?
IC Markets rebates are a portion of the transaction cost that is paid back to the client on each trade, resulting in a lower spread and improved win ratio. For example, if your rebate is 1 pip and the spread is 3 pips, then your net spread is only 2 pips.
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
How Do IC Markets Rebates Work?
When you link a new or existing forex trading account to Cashback Forex (CBFX) the broker pays them part of their spread or commission profit for every trade you make as compensation for referring a customer. CBFX then share the majority of the revenue with you, paying you a cash rebate for each trade you make as thank you for signing up.
Your spreads will never increase as a result of using this service! The only difference is: as a CBFX client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, CBFX are the original and leading provider of forex rebates. CBFX pay rebates to over 100,000 accounts and traders love a helpful 24 hour live chat, telephone and email support.
Are IC Markets Rebates A Scam; Do My Spreads Increase?
IC Markets rebates paid by legitimate rebate providers are not a scam, however scams do exist. The most common scam is a rebate provider that marks up the spread or commission in order to pay a higher rebate than competitors. Many brokers do allow a referring party, or rebate provider, to markup costs to traders they refer. Obviously this defeats the purpose of the service provided by the rebate provider and thus jeopardizes the viability of the rebate provider’s reputation and business, so a reliable provider wouldn’t consider this. Besides this, certain rebate providers may not pay on time, or not at all. This is why it’s important to choose a reliable provider.
When working with a trustworthy rebate provider, there is no ‘catch’. It is more beneficial to a trader’s financial position to work with a rebate provider than solely with the forex broker.
Are There Any Other Benefits To Signing Up For IC Markets Rebates?
It depends on the rebate provider. Due to CBFX’s unique relationship with many brokers, they have often mediated between brokers and clients in order to help successfully resolve client issues, including clients who are having withdrawal issues. Brokers are often very fast to respond, since they typically have many clients. Their knowledgeable support team is available 24 hours per day in 8 native languages & 23 total languages for any questions. They also offer trading tools, calculators, reviews and a robust forex education section.
How Are Forex Rebates Paid?
Because CBFX deals with so many traders in so many different countries and serve 23 languages we have to cover a wide array of options. Here’s what they offer:
Forex rebate options vary per broker:
| Monthly cash back | Payments are credited and sent automatically by the 12 of the month following the month rebates are earned in. |
| Spread or commission reduction | The trader actually receives reduced commissions and/or spreads. This is an exciting option offered by some of our top brokers. |
| Paid direct to brokerage account | Cashback is credited directly to the trader’s brokerage account, typically between 1-7 days after the trade is closed. This is another exciting options offered by some of our top brokers. |
In the case of the ‘Monthly cash back’ rebate option, monthly payments can be paid via bank wire, Paypal, Skrill, Sticpay, China Unionpay, and Neteller. Some payment methods such as bank wire carries fees and often traders set a custom minimum payment amount in order to accumulate rebates and withdraw their rebates less often than monthly.
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Web Traffic
IC Markets Profile
With a global presence, IC Markets is a CFDs broker providing trading solutions for active day traders, scalpers and beginners. This Australian-based broker offers its customers a good choice of trading platforms, competitive trading costs, low latency connectivity and superior liquidity. IC Markets customer support is available in 14 languages, operational 24 hours/ 7 days a week, via live chat, email and contact form.
Trading with IC Markets can be done via the Metatrader 4 (MT4) and Metatrader 5 (MT5), both available as desktop terminals, and complemented with the mobile versions for Android and iOS. Investors can also choose to trade with the more advanced cTrader, available for traders opening a cTrader Raw Spread account.
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IC Markets Asset Classes
The broker offers an excellent selection of 1,750+ tradable financial instruments, divided into 7 asset classes: forex, indices, stocks, bonds, commodities, futures and cryptocurrencies.
Currencies: 61 pairs, including all Major pairs, and some Minor and Exotic crosses.
Cryptocurrencies: 13 cryptocurrencies CFDs are available for trading versus the USD, including the BTC/USD, ETH/USD, LTC/USD, DSH/USD and EOS/USD.
Commodities: 22 commodities CFDs available for trading; 4 metals (Gold, Silver, Platinum and Palladium), 5 energies, including the UK Oil, US Oil and Nat Gas, and 7 soft commodities.
Indices: 25 indices CFDs, including the UK 100, S&P 500 and AUS 200.
Stocks: 1600+ stocks CFDs from the ASX, Nasdaq and NYSE exchanges, of worldwide top companies and banks, such as Amazon, BHP Hilton, Deutsche Bank AG, Ferrari, Netflix, Visa, Tesla and Facebook.
Bonds: 11 CFDs based on highly rated government-issued debt securities, including government bonds of the United States, Japan and Europe.
Futures: 4 futures contracts; DXY, VIX, WTI and Brent.
IC Markets Account Types
IC Markets offers up to three trading accounts; Standard, Raw Spread and cTrader Raw Spread. The Standard account is for traders that wish to trade only with the bid and ask prices, without any added commissions.
The Raw Spread accounts (including cTrader) are recommended for investors that are looking for more competitive pricing. Especially for the forex pairs with a tighter spread (EUR/USD average spread of 0.2 pip and USD/JPY average spread of 0.14 pip for example) but paying a trading commission. Within the range of accounts traders can also find:
Swap-free accounts for traders of Islamic belief are also available.
Social trading, including copy trading, is available by connecting the IC Markets to ZuluTrade.
PAMM accounts and MAM accounts (Multi-Account Manager) are also available for money managers. IC Markets MAM software is a trusted solution that has been used by money managers since 2012. If you are a money manager, click the following link to apply for an IC Markets MAM/PAMM account.
IC Markets leverage ratios are up to 30:1 for retail clients in Europe and Australia, and up to 500:1 for accounts opened with Raw Trading Ltd entity, regulated by Seychelles FSA.
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IC Markets Demo Account
A demo account gives users the chance to test the broker’s pricing and execution on several asset classes, without risking any real money.
- The demo account is non-expiring
- Virtual funds: up to $100,000
- Leverage: up to 500:1
- Financial instruments: forex, indices, stocks, commodities, bonds and 13 cryptocurrency crosses, including Bitcoin
Register for free and test your trading strategies, open a demo trading account with no risk and no obligation now.
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IC Markets Pricing
Spreads And Trading Commissions
Offering cutting-edge trading technology, IC Markets has super-fast trading servers located in London and New York, maximizing order execution speeds on all three trading platforms. The broker also boasts minimum slippage by providing investors with direct access to inter-bank price feeds, from more than 50 banks and institutional liquidity partners.
For our price comparison table, we use the EUR/USD pair as the benchmark, for its popularity with traders and because it is the most traded FX pair.
Standard account spreads start at 0.6 pip (variable), and trading is commission-free.
RAW account spreads start at 0.0 pip (variable), with a trading commission of $7 per traded lot (100,000 currency units).
cTrader RAW account spreads start at 0.0 pip (variable), with a trading commission of $6 per 100,000 USD traded.
Pricing structure is one of the best when compared with other players in this industry. And not only for currencies trading. Traders looking for a crypto CFDs trading alternative might also consider IC Markets.
Highly regulated, IC Markets offers customers the chance to profit from both Bitcoin’s rising and falling prices with competitive trading costs. Together with a low BTC/USD average spread of 42.03, investors can also trade this pair (and other cryptocurrencies) commission-free.
The minimum deposit for the Standard and RAW accounts (MT4/MT5) is just 200 currency units. The minimum deposit for the cTrader RAW account is 1,000 currency units.
Rollover Rates
IC Markets swap rates, e.g. for 1 lot EUR/USD (100,000 units) are -4.60 for holding a long 1 lot position overnight and +1.12 for holding a short 1 lot position. The 3-day swap rate is charged on Wednesdays at midnight server time (GMT+2).
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IC Markets Deposits / Withdrawals
IC Markets proposes its bespoke trading accounts, Standard and RAW, in several base currencies. The broker also accepts 15 different funding methods, including the most popular e-wallets:
Account currencies: AUD, CHF, EUR, GBP, JPY, NZD, SGD, USD, HKD.
Standard/RAW (MT4/MT5) accounts minimum deposit: 200 currency units.
cTrader RAW account minimum deposit: 1,000 currency units.
Funding methods: Bank Wire, Broker to Broker, China Union Pay, Credit/Debit Cards, Neteller, PayPal, Skrill (Moneybookers).
Deposit fees: No fees for deposits.
Deposit processing times: From instant to 1 hour (bank wires up to 3 working days).
Withdrawal fees: The broker does not charge fees for withdrawals. However, deposits/withdrawals may incur fees on payments to and from some international banking institutions.
Withdrawal processing times: Variable, from instant to 1 day.
Inactivity fee: Currently, there is no inactivity fee.
IC Markets Popularity
The great popularity of this excellent Australian broker is undeniable. IC Markets offers a good range of trading platforms (MT4, MT5 and cTrader) to suit all kinds of traders. But, the key factor for this brokers popularity with the trading community is its competitive trading conditions and spreads, particularly with the RAW account. Other unique features include:
Client safety mechanisms: Segregated client money, NBP offered by default, regulatory deposit insurance (subject to jurisdiction) and professional indemnity insurance.
Competitive pricing: Variable spreads from 0.0 pip on the RAW accounts (including cTrader RAW), industry-average trading commissions and no fees on deposits/withdrawals.
Execution model: ECN.
Trading education: Forex courses, market analysis, webinars, trading videos, trading tools, Web TV, recorded daily from the floor of the NYSE and presented in association with Trading Central. Web TV offers unmatched coverage on global equities, currencies and commodities.
Customer support languages: Arabic, Chinese, English, French, German, Indonesian, Italian, Korean, Portuguese, Russian, Spanish, Thai, Vietnamese, Czech.
Overall, the excellent range of trading instruments available for trading, the competitive pricing of the RAW account, the fast execution times, merged with the excellent ECN environment trading conditions, and a low initial deposit of 200 currency units, position IC Markets as the best forex broker for popularity with traders opening a trading account in 2023.
IC Markets Promotions
Free VPS Service
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IC Markets FAQs
Is this a regulated retail forex broker?
Yes, IC Markets is a regulated forex broker. The broker is authorised and supervised in Europe by the Cyprus CySEC, in Australia by ASIC and globally by Seychelles FSA.
What is the minimum deposit?
Minimum deposit for the Standard/RAW accounts (MT4/MT5) is 200 currency units. The cTrader RAW account minimum deposit is 1,000 currency units.
What is the maximum forex leverage?
Maximum forex leverage ratio for accounts opened with the CySEC and ASIC regulated entities is 30:1. For accounts opened with the Seychelles FSA regulated entity is 500:1.
Can I earn rebates with IC Markets?
Yes, traders can earn rebates from trading with this broker.
What funding methods are accepted?
This brokerage accepts account deposits with bank wires, broker to broker, China Union Pay, credit and debit cards, Neteller, PayPal, and Skrill (Moneybookers).
What account currencies are available?
Traders can open a trading account in AUD, CHF, EUR, GBP, JPY, NZD, SGD, USD and HKD.
What trading platforms are available?
Investors can trade the markets via the MT4, MT5 and cTrader platforms.
Does IC Markets offer Cent accounts?
No, Cent accounts are not available.
Is negative balance protection available?
Yes, the broker has negative balance protection for traders opening an account with any of its regulated entities.
Is a regulatory deposit insurance available?
Yes, this forex broker has regulatory deposit insurance for traders opening an account with the Cyprus CySEC regulated entity. Retail clients in Europe are covered up to €20,000 per claim.
Are swap-free accounts for traders of Islamic belief available?
Yes, the broker has swap-free accounts for traders of the Islamic religion. Terms and conditions apply.
Does IC Markets accept applications from residents in Japan?
No, the Forex broker does not accept applications from residents in Japan.
Does this Forex broker accept applications from residents in Canada?
No, IC Markets does not accept applications from residents in Canada.
Does IC Markets allow scalping trading?
Yes, scalping trading is allowed. And with its 0.0 pip spreads on most currency pairs, reliable data servers and fast execution speeds, it’s a recommended broker for scalping.
What is this brokers execution model?
The execution model is ECN (Electronic Communications Network), connecting traders with 50 tier-1 liquidity providers.
Are mobile trading platforms available?
Yes, there are MT4, MT5 and cTrader platforms available for mobile devices running on iOS and Android.
Does IC Markets have a trading API?
Yes, the Forex broker has a trading API.
Does this broker pay interest on margin?
No, this brokerage does not pay any interest on margin.
What type of spreads are IC Markets spreads?
The spreads are variable (from 0.0 pip) – currently, no fixed spread accounts are offered.
IC Markets Real Customer Rating
To sum up, IC Markets verified customers, with a live trading account, recommend this broker, mainly, for its overall trading costs; low spreads and average trading commissions. But traders also very pleased with IC Markets’ stable servers and instant executions, allowing for a smooth trading experience. Including algorithmic trading with the Best Forex EA’s. Also on a positive note, traders praise the broker for its withdrawal’s efficiency – fast and effortless.
Negatively, some IC Markets users complain about the occurrence of both negative and positive slippage.
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IC Markets Review – Final Considerations
One of our primary missions is to help the trading community make informed decisions, by publishing accurate and unbiased content, supported mainly by primary sources.
These sources may include government data, the information supplied by the broker and data available on the broker’s corporate website(s), the analysis and reviews of our in-house industry experts, and the feedback provided by the broker’s verified traders with a live account.
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Overall, the cost of trading, the broker’s solid reputation, the safety of retail client’s funds, together with a low initial deposit of 200 base currency units, position this CFD broker as the best forex broker for popularity with traders opening a trading account in 2023.
