Pros
- One of the most popular raw-spread ECN brokers for scalping/algo trading (very low costs)
- Very complete platform selection (MT4/MT5/cTrader/TradingView)
- Regulated by ASIC (Australia) + CySEC for certain entities
Cons
- A class-action record (reported since 2024) alleging it misled investors — no verdict yet, but a relevant public fact
- Many clients via offshore entities (Seychelles/Bahamas)
- Leverage is high-risk
Feature summary
CategoryForex
Minimum depositVaries by account type — check the official site
Demo accountAvailable
PlatformMetaTrader 4, MetaTrader 5, cTrader, TradingView, WebTrader, IC Mobile App
InstrumentsForex CFDs, Commodities CFDs, Indices CFDs, Bonds CFDs, Cryptocurrency CFDs, Stocks CFDs, Futures CFDs
SupportLive chat, email & phone (market hours)
Regulation statusExact license numbers not yet verified — the official site mentions multi-regulation but the detailed regulation page was inaccessible during our check. Verify directly with the regulator (ASIC, CySEC, or the Seychelles FSA depending on the entity) before signing up.
Fee modelSeveral account types (Raw Spread, Standard, Raw Pro/Pro+, cTrader Raw Spread, Swap Free) — the fee structure per account type has not been verified in detail
Estimated cost per lotRaw spread + small commission (Raw/cTrader) — among the cheapest, exact figures not yet verified
Risk & regulation notes
Important: according to Wikipedia (sourced from ABC News & Lawyerly.com.au), IC Markets and its founder Andrew Budzinski have been the subject of several class actions alleging the company misled investors (reportedly since January 2024). This is not a finding of guilt, but it is a public fact worth knowing before signing up — research the latest developments independently.
Primary sources
Product facts are summarized from the broker's official materials. A broker's own claims are not automatically treated as independent verification.
Update history
- 2026-08-01
Initial research: platform & instrument data from the official site (some pages were blocked); founder profile and class-action notes from Wikipedia, sourced from ABC News.