IC Markets

IC Markets is a globally recognized online forex and CFD broker founded in 2007 by Australian entrepreneur Andrew Budzinski (Wikipedia, YouTube). Headquartered in Sydney, it has grown into one of the world’s largest brokers, boasting average monthly trading volumes exceeding USD 1.3 trillion (The Australian).

Key Features & Services

Diverse Trading Platforms & Instruments

Supports MetaTrader 4, MetaTrader 5, cTrader, and TradingView (Hawkinsight, Hercules Finance).

Offers a wide range of asset classes including forex, commodities, indices, stocks, futures, bonds, and cryptocurrencies—over 2,000 instruments in total (InvestinGoal, Brokersway, Hercules Finance).

Account Types for Every Trader

Standard Account: Commission-free, spreads from ~0.6–0.8 pips, leverage up to 1:500, available on MT4/MT5 (FxRanking, IC Markets).

Raw Spread Account: Ultra-tight spreads (from 0 pips), commission of ~$3.50 per lot (MT4/MT5) or ~$3.00 (cTrader), ideal for scalpers and EAs (FxRanking, InvestinGoal).

Islamic Account: Swap-free option for Muslim traders, same competitive conditions as other accounts (FxRanking, InvestinGoal).

Professional Account: Lower margin requirements and higher leverage (up to 1:500), no minimum deposit in some setups, for experienced traders (InvestinGoal).

Fast Execution & Deep Liquidity

Servers are located in Equinix NY4 (New York), providing ultra-low latency (under 1 ms) for quick trade execution—vital for algorithmic traders (IC Markets, Hercules Finance).

Connected to 50+ liquidity providers for tight spreads and deep market depth (Hercules Finance, IC Markets).

Trust & Security

Regulatory Oversight

Licensed and regulated by ASIC (Australia), the CySEC (Cyprus), and the FSA of Seychelles (Brokersway).

Under CySEC, clients may benefit from Negative Balance Protection and access to a compensation fund up to €20,000 if IC Markets fails (Brokersway).

Minimum Deposit & Account Access

Minimum deposit is typically USD 200 for live accounts (Hawkinsight, Brokersway).

Demo accounts are available at no cost for practice and learning (FxRanking, Hawkinsight).

Trading Conditions & Protections

Offers micro-lot trading (from 0.01 lot), hedging, no FIFO rules, and free VPS with sufficient trading volume—beneficial for automated strategy users (Hawkinsight, Reddit).

Support & Community

Funding & Withdrawal Flexibility

Supports a broad array of payment options, including credit/debit cards, e-wallets, bank transfers, UnionPay, and region-specific methods like Bpay or Rapidpay (Hawkinsight).

Educational & Social Trading Tools

Offers demo accounts, educational resources, and integration with social/copy trading platforms like ZuluTrade and Pelican Trade (Hercules Finance, Hawkinsight).

Industry Reputation & Legal Challenges

Though popular, IC Markets is facing scrutiny: a class-action lawsuit alleges misleading CFD sales practices—claiming retail losses mirrored the company’s and founder Andrew Budzinski’s profits—numbering nearly USD 1 billion (The Australian).

A judge warned IC Markets and Budzinski about missed court deadlines, though defenses were later filed (The Australian).

Some traders on forums question IC Markets’ ECN credentials, suggesting they operate more like a market maker—highlighting potential conflicts of interest (Reddit).

Summary Snapshot