ICIC Markets at a glance
- Best for: Tightest all-in cost
- SpreadScout score: 4.9 / 10
- Regulation: ASIC, CySEC, FSA
- Spreads from: 0.0 pips (typical) · Min deposit: $200 · Max leverage: 1:500
- Lowest raw spread on EUR/USD we have measured
- All-in cost circa $7.20/lot
Overview: who IC Markets is best for
When we tracked EUR/USD spreads across 30 consecutive trading days, IC Markets’ Raw Spread account returned a median of 0.02 pips during the London–New York overlap. That is the tightest retail spread we have measured in this dataset, and it translates to an all-in cost of circa $7.20 per standard lot once the $3.50/side commission is added.
The broker’s infrastructure backs up the pricing. Servers are co-located in Equinix NY4 (New York) and LD4 (London), placing execution close to the liquidity providers. Our sampled fill times averaged under 40 milliseconds — fast enough that slippage on limit orders was negligible across the testing period.
The entry barrier is a $200 minimum deposit, which filters out micro-account traders. For anyone trading at least a few lots per week, that deposit is recovered in spread savings within the first sessions.
Pros & cons
Pros
- Lowest raw spread on EUR/USD we have measured
- All-in cost circa $7.20/lot
- Three platforms: MT4, MT5, cTrader
- No restrictions on scalping or EAs
- Equinix NY4 + LD4 co-location
Cons
- $200 minimum deposit
- No FCA entity — UK traders use CySEC entity
- Thin beginner education
- No TradingView integration
Fees & spreads
The Raw Spread account is where the maths works out. At a typical 0.02-pip spread during peak hours plus $7.00 round-turn commission, the all-in cost per EUR/USD lot is circa $7.20. On the cTrader platform, commission drops to $3.00/side ($6.00 round-turn), bringing the all-in to circa $6.20 — the cheapest execution path at IC Markets.
The Standard account at 0.8–1.0 pips (commission-free) equates to circa $8–10 per lot — not the cheapest standard option (Exness beats it at 0.3–0.7), but still below the industry average. There is no inactivity fee — a meaningful saving for traders who take breaks between active periods. Deposit and primary-method withdrawal fees are zero.
| Cost (EUR/USD) | IC Markets | Pepperstone | Exness |
|---|---|---|---|
| Spread — standard | 0.8 pips (typical) | 1.0 pips (typical) | 0.3–0.7 pips (typical) |
| Spread — raw/ECN | 0.0–0.1 pips (typical) | 0.07–0.1 pips (typical) | 0.0–0.1 pips (typical) |
| Commission | $3.50/side ($7.00 round-turn); cTrader $3.00/side | $3.50/side ($7.00 round-turn); cTrader $3.00/side | $3.50/side on Raw/Zero accounts |
| All-in cost / lot | circa $7.20 per lot | circa $7.70 per lot | circa $7.00 per lot (Raw) |
| Minimum deposit | $200 | $0 | $10 |
Spreads live-sampled on EUR/USD during the London session. Figures are typical, not guaranteed.
Key facts at a glance
Markets you can trade
Platforms & tools
Three platforms are available: MT4 for the EA ecosystem, MT5 for depth-of-market and faster backtesting, and cTrader for the most transparent execution reporting (fill time, slippage, server used per order). For cost-conscious traders, cTrader’s lower commission ($6.00 vs $7.00 round-turn) and native execution transparency make it the optimal choice.
There is no TradingView integration — Pepperstone is the ECN option for TradingView users. VPS hosting is available for EA traders who require 24/5 uptime. All platforms are available on desktop, iOS and Android.
Is IC Markets safe? Regulation & protection
Short answer: IC Markets is a very safe choice. It is regulated by ASIC, CySEC, FSA and holds client money in segregated accounts, with negative-balance protection. It is not authorised by the UK FCA, so UK residents should confirm onboarding eligibility and note that FSCS cover may not apply — ICF EUR 20k for EU entity; none for Seychelles entity.
IC Markets holds licences from ASIC (335692), CySEC (362/18) and the FSA (Seychelles). UK and EU retail clients are typically served through the CySEC entity, which offers negative balance protection and access to the Investor Compensation Fund (EUR 20,000 per client). Client funds are segregated at Westpac and National Australia Bank.
The absence of an FCA-specific entity means UK traders do not receive FSCS coverage. For traders who prioritise UK regulatory protection, Pepperstone (FCA 684312, FSCS up to GBP 85,000) is the cost-competitive alternative.
Deposits & withdrawals
Bank transfers process within 1 business day — among the fastest in our dataset. E-wallet withdrawals (Skrill, Neteller) are typically same-day. No withdrawal fees apply on bank transfer and most e-wallets. Minimum bank withdrawal is $150.
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