IC Markets is a genuinely excellent broker for active traders who care about execution speed and tight spreads. I've used my Raw Spread account on MT5 for live index and forex trading since 2023, and the execution is consistently the best I've experienced from any retail broker. Not perfect for complete beginners — but if you know what you're doing and want institutional-grade conditions at retail prices, IC Markets delivers.
Live IC Markets spreads on MT5 — US30 and EURUSD during London session
CFDs are complex instruments. 74.32% of retail investor accounts lose money when trading CFDs with this provider.
Who Is IC Markets?
IC Markets (International Capital Markets) was founded in Sydney, Australia in 2007. They've grown into one of the largest forex brokers globally by trading volume — at various points they've processed more daily volume than any other retail broker. The company is headquartered in Sydney with additional entities regulated by CySEC (Cyprus) for European and UK clients.
US30 (Dow Jones) H1 chart on IC Markets MT5
For UK traders, you'll be onboarded under IC Markets (EU) Ltd, regulated by CySEC (Licence No. 362/18). This means you're covered by the Investor Compensation Fund (ICF) and your funds are held in segregated accounts with top-tier banks. It's worth noting that while IC Markets isn't directly FCA-regulated, UK clients accessing the CySEC entity still receive strong regulatory protection, and IC Markets follows MiFID II rules including the 1:30 leverage cap for retail clients.
EURUSD H1 chart on IC Markets MT5 platform
They offer 2,250+ tradable instruments across forex, indices, commodities, stocks, bonds, and crypto CFDs. The broker is particularly popular with algorithmic traders — IC Markets estimates that around 60% of their order flow comes from automated trading systems, which tells you a lot about the type of client they attract.
My Real Account Experience
I want to be upfront: I've been trading through IC Markets on a live Raw Spread account using MT5 since 2023. I trade indices primarily — US30, NAS100, and SPX — along with forex pairs when the setups are there. This isn't a review written from a demo account or from reading other reviews. I'm telling you what I've actually experienced with real money on the line.
The reason I opened an IC Markets account in the first place was spreads. I was paying wider spreads elsewhere on US30, and after running some calculations, the cost difference on my typical monthly volume was significant. On a Raw Spread account, I regularly see 0.8–1.2 point spreads on US30 during London and New York sessions. That's tight by any retail standard.
My account setup is straightforward: Raw Spread on MT5, funded in USD. I use their MT5 desktop platform on my main trading PC and the MT5 mobile app when I'm away from the desk. The onboarding was quick — ID verification took about a day, and my first deposit via bank transfer landed within 24 hours.
Day to day, IC Markets just works. I don't think about the broker, which is exactly what you want. The platform doesn't crash during volatile moves (and I've been through some serious US30 sell-offs). Orders fill at or near the price I click. There's no requoting on market orders. The only time I've had any issues was during a server maintenance window they'd announced in advance.
Spreads, Commissions & Fees
This is where IC Markets genuinely excels, and it's the main reason most serious traders choose them.
Raw Spread Account (What I Use)
You get the raw interbank spread with a fixed commission of $3.50 per lot per side ($7 round turn). In practice, here's what I typically see during active market hours:
| Instrument | Typical Spread | Commission | Total Cost per Lot |
|---|---|---|---|
| EUR/USD | 0.0 – 0.2 pips | $7.00 round turn | ~$7.00 – $9.00 |
| GBP/USD | 0.3 – 0.8 pips | $7.00 round turn | ~$10.00 – $15.00 |
| US30 (Dow Jones) | 0.8 – 1.4 points | $0 (built into spread) | $0.80 – $1.40 per 0.01 lot |
| NAS100 (Nasdaq) | 1.0 – 1.8 points | $0 (built into spread) | $0.10 – $0.18 per 0.01 lot |
| XAU/USD (Gold) | 0.5 – 1.5 points | $0 (built into spread) | $0.50 – $1.50 per 0.01 lot |
These spreads are genuinely competitive. I've compared them side-by-side with Pepperstone and IG during live sessions, and IC Markets consistently matches or beats them on the major pairs and indices.
Standard Account
If you prefer all-in pricing with no separate commission, the Standard account builds the cost into the spread. You'll see EUR/USD from around 0.8 pips — still competitive, but the Raw Spread account works out cheaper for active traders.
Other Fees
Swap rates (overnight fees) are in line with industry standard. There are no deposit or withdrawal fees from IC Markets' side, though your bank or payment provider may charge their own fees. No inactivity fee either, which is a welcome change from brokers that penalise you for not trading.
Trading Platforms
IC Markets offers three platform choices:
MetaTrader 5 (My Choice)
MT5 is my daily driver and it's where IC Markets really shines. The integration is solid — you get the full MT5 experience with depth of market, the Strategy Tester for backtesting EAs, and the MQL5 ecosystem for custom indicators. IC Markets' MT5 servers are colocated in the Equinix NY4 data centre in New York, which is the same facility used by major institutional traders and banks. You notice the difference in execution speed.
MetaTrader 4
Still available for traders who prefer it or have existing MT4 EAs. Same competitive spreads and execution. IC Markets is one of the few brokers still offering both MT4 and MT5 with equally good conditions on each.
cTrader
Spotware's cTrader platform is the alternative for traders who want a more modern interface. It's particularly popular for its charting and its native copy trading (cTrader Copy). The Level II pricing display is excellent. Commission on cTrader is the same — $3.50 per lot per side.
One thing worth noting: IC Markets doesn't currently offer direct TradingView integration for live trading, which is a minor drawback if you prefer TradingView charts. I use TradingView for analysis separately and execute on MT5, which works fine but isn't as seamless as brokers that offer native TradingView connectivity.
Want to test IC Markets' platforms yourself?
Try IC Markets Free DemoNo deposit required for demo accounts
Execution Speed & Slippage
This is IC Markets' strongest selling point, and in my experience, they deliver on it.
IC Markets reports average execution speeds under 40ms, and from my trading I believe it. Market orders on forex pairs fill virtually instantly during normal conditions. Even during high-volatility events — NFP releases, FOMC announcements, surprise geopolitical moves — I've found that orders still fill quickly. You might get some slippage during news events (that's normal and happens with every broker), but it's typically 1-2 pips at most and goes both ways — I've had positive slippage as often as negative.
For my index trading on US30, limit orders fill cleanly at the requested price the vast majority of the time. Stop losses execute with minimal slippage. I've monitored this specifically because execution quality directly affects my P&L on intraday trades, and IC Markets is the best I've used.
The Equinix NY4 colocation is a real advantage. IC Markets also offers free VPS hosting for clients who trade 15+ standard lots per month, which is worth considering if you run EAs or need guaranteed uptime.
Account Types
| Feature | Raw Spread | Standard | cTrader Raw |
|---|---|---|---|
| Spreads From | 0.0 pips | 0.8 pips | 0.0 pips |
| Commission | $3.50/lot/side | None | $3.50/lot/side |
| Min. Deposit | $200 | $200 | $200 |
| Platforms | MT4, MT5 | MT4, MT5 | cTrader |
| Max Leverage (UK) | 1:30 | 1:30 | 1:30 |
| Best For | Active traders, scalpers | Beginners, swing traders | cTrader enthusiasts |
My recommendation for most UK traders: go with the Raw Spread account on MT5. The commission structure is transparent, the spreads are tighter, and over time the savings add up significantly — especially if you're trading indices or forex actively.
74.32% of retail investor accounts lose money when trading CFDs with this provider.
Regulation & Is IC Markets Safe for UK Traders?
This is the question I get asked most often. Let me break it down clearly.
IC Markets operates multiple entities worldwide. UK and European clients are served by IC Markets (EU) Ltd, regulated by CySEC (Cyprus Securities and Exchange Commission) under licence number 362/18. The parent company, International Capital Markets Pty Ltd, is regulated by ASIC in Australia.
What does CySEC regulation mean for you as a UK trader?
- Segregated funds — your money is held separately from IC Markets' operating funds in top-tier European banks
- Investor Compensation Fund (ICF) — covers up to €20,000 per client if the broker becomes insolvent
- MiFID II compliance — negative balance protection, leverage limits (1:30 for retail), standardised risk warnings
- Regular audits — CySEC conducts ongoing supervision and compliance checks
Is IC Markets FCA-regulated? No — and this is the one caveat. Some UK traders prefer brokers with direct FCA regulation, which offers FSCS protection up to £85,000. The CySEC ICF covers €20,000. For most retail account sizes this is adequate protection, but it's worth being aware of the difference.
In practice, IC Markets has been operating since 2007 with no major regulatory actions or client fund issues. Their track record across nearly two decades is clean, and the sheer volume they process (regularly among the top 3 globally) means they're under constant regulatory scrutiny.
Deposits & Withdrawals
IC Markets offers a solid range of funding options:
- Bank transfer — no fees from IC Markets, 1-3 business days
- Credit/Debit card (Visa, Mastercard) — instant deposits, no fees
- Skrill, Neteller — instant deposits, no fees
- PayPal — instant deposits, no fees
Withdrawals are processed within 1 business day in my experience. I use bank transfer for withdrawals and funds typically arrive within 2-3 working days to my UK bank account. I've never had a withdrawal delayed or questioned.
The minimum deposit is $200 (or equivalent in GBP/EUR). This is slightly higher than some competitors — IG and eToro have lower minimums — but $200 is realistic for anyone serious about trading. If $200 feels like a lot, you're probably not ready to trade with real money yet.
Education & Support
I'll be honest: IC Markets' educational resources are basic compared to the likes of IG or eToro. You'll find some articles, webinars, and video tutorials, but this isn't a platform that's trying to teach you to trade from scratch. Their focus is clearly on providing the best trading infrastructure, not holding your hand through the basics.
Customer support, however, is responsive. I've used their live chat a handful of times — once for a platform query and once for a withdrawal question — and got helpful responses within minutes. They offer 24/5 support via live chat, email, and phone.
If you're looking for comprehensive trading education, that's what ChartsView's Learn to Trade section is for. Use IC Markets for execution; use us for education.
Who IC Markets Is Best For
- Active day traders and scalpers
- Index traders (US30, NAS100, SPX)
- Forex traders who want raw spreads
- EA/algorithmic traders
- Experienced traders who value execution
- Traders who want MT5 or cTrader
- Complete beginners needing hand-holding
- Traders wanting FCA regulation specifically
- Share dealing / ISA investing
- Traders who need TradingView integration
- Very small accounts (under $200)
Ready to trade with institutional-grade spreads?
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Open an AccountThe Drawbacks — Being Honest
No broker is perfect, and I wouldn't trust a review that doesn't mention the downsides. Here's what I'd improve about IC Markets:
No direct FCA regulation. As discussed, UK clients are under CySEC. For most traders this is fine, but if FCA/FSCS protection is a hard requirement for you, look at IG or Pepperstone instead.
No TradingView live trading. You can't connect IC Markets directly to TradingView for order execution. For me this is a minor annoyance since I use TV for analysis and MT5 for execution, but it's a genuine gap compared to brokers like Pepperstone who offer TradingView integration.
Education is minimal. If you're a beginner, IC Markets won't teach you much. The resources are sparse compared to IG Academy or eToro's social features.
No share dealing or ISA. IC Markets is CFDs only. You can't buy actual shares or use a stocks and shares ISA. If you want both CFD trading and investing, you'd need a separate broker for the investing side.
$200 minimum deposit. Not the lowest in the industry, though it's fair for the quality you get.
Final Verdict: 4.5/5
IC Markets is the broker I use for my own trading, and I'd recommend it to any UK trader who values tight spreads, fast execution, and reliable infrastructure over flashy features. It's not the best choice for beginners or investors — but for active traders, particularly those trading indices and forex, it's one of the best in the business.
The Raw Spread account on MT5 offers genuinely institutional-grade conditions. The 17+ years of clean operation and massive daily volumes give me confidence that my funds are safe. The lack of FCA regulation is the only significant caveat — but CySEC regulation with MiFID II protections is robust for the vast majority of retail traders.
Bottom line: If you're an active trader in the UK looking for the tightest spreads and fastest execution available at the retail level, IC Markets should be at the top of your shortlist.
CFDs are complex instruments. 74.32% of retail investor accounts lose money when trading CFDs with this provider.
Frequently Asked Questions
Is IC Markets regulated in the UK?
IC Markets is not directly FCA-regulated. UK clients trade under IC Markets (EU) Ltd, regulated by CySEC (Cyprus) under licence 362/18. This provides MiFID II protections including segregated funds, negative balance protection, and 1:30 leverage limits.
What are IC Markets' spreads on US30?
IC Markets typically offers US30 (Dow Jones) spreads of 0.8 to 1.4 points during London and New York trading sessions. Spreads may widen outside of peak hours and during major news events.
Is IC Markets good for beginners?
IC Markets is better suited to intermediate and advanced traders. Their educational resources are limited compared to IG or eToro. However, their Standard account with built-in spreads and no commission is simple enough for beginners who have learned the basics elsewhere.
What is the minimum deposit for IC Markets UK?
The minimum deposit is $200 (or equivalent in GBP or EUR). Deposits via card, Skrill, Neteller, or PayPal are instant with no fees from IC Markets.
Does IC Markets offer a demo account?
Yes, IC Markets offers free demo accounts on MT4, MT5, and cTrader with virtual funds. Demo accounts replicate live market conditions and are a good way to test the platform before depositing real money.
IC Markets vs Pepperstone — which is better for UK traders?
Both are excellent brokers. IC Markets typically has slightly tighter spreads on forex pairs, while Pepperstone offers direct TradingView integration and FCA regulation. If execution speed and raw spreads matter most, IC Markets edges it. If you want FCA protection and TradingView connectivity, Pepperstone is the better choice. See our full broker comparison for a detailed breakdown.
Disclaimer: This review reflects the personal experience of the author trading on a live IC Markets account. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.32% of retail investor accounts lose money when trading CFDs with IC Markets. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. ChartsView may receive compensation from IC Markets if you open an account through links on this page — this does not affect our review or rating.
Last updated: April 2026. We review and update our broker reviews regularly to ensure accuracy.