IC Markets Review 2024: Pros & Cons

In the rapidly evolving landscape of online trading, IC Markets has established itself as a prominent figure. Founded in 2007 and based in Sydney, Australia, IC Markets has garnered a reputation for providing a high-quality trading environment to both retail and institutional investors worldwide. As we move into 2024, it's crucial to evaluate the broker's offerings, weighing its strengths and weaknesses to determine its suitability for traders. This review delves into the pros and cons of IC Markets, examining aspects such as regulatory compliance, trading platforms, asset offerings, customer service, fees, and more.


1. Regulatory Compliance and Security

IC Markets operates under the regulation of several reputable financial authorities, including the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Seychelles Financial Services Authority (FSA). This multi-jurisdictional oversight provides traders with a layer of security and trust, ensuring that the broker adheres to strict operational standards and offers a secure trading environment.

2. Advanced Trading Platforms

Traders have access to a range of advanced trading platforms when working with IC Markets, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and the cTrader platform. These platforms are known for their reliability, customizability, and array of features, such as advanced charting tools, algorithmic trading capabilities, and extensive market indicators, catering to the needs of both novice and experienced traders.

3. Competitive Spreads and Low Fees

IC Markets is renowned for its tight spreads and low commission fees, making it an attractive option for traders looking to minimize trading costs. The broker offers raw spreads starting from 0.0 pips for major currency pairs, which is among the most competitive in the industry. Additionally, IC Markets employs a transparent pricing model, ensuring traders are well-informed about potential trading costs.

4. Wide Range of Tradable Instruments

With IC Markets, traders have access to a broad spectrum of tradable instruments across various asset classes, including forex, commodities, indices, bonds, cryptocurrencies, and stocks. This diversity allows traders to diversify their investment portfolios and take advantage of a wide range of market opportunities.

5. Exceptional Order Execution

IC Markets uses a no dealing desk (NDD) execution model, providing traders with direct access to a deep liquidity pool from over 50 banks and liquidity providers. This setup ensures fast and reliable order execution, even during volatile market conditions, and minimizes the risk of slippage.

6. Comprehensive Educational Resources

The broker offers an extensive selection of educational resources, including webinars, tutorials, articles, and market analysis, to support traders in developing their skills and understanding of the markets. This commitment to trader education is beneficial for both beginners and experienced traders looking to enhance their trading strategies.


1. Complexity for Beginners

While IC Markets offers numerous features and resources beneficial to traders, the sheer breadth of options and the sophistication of its platforms can be overwhelming for beginners. New traders may find the learning curve steeper compared to more simplified trading platforms.

2. Limited Account Types for Retail Traders

IC Markets primarily offers three account types: Standard, Raw Spread, and cTrader Raw. While these accounts cater to a broad audience, some retail traders might find the options limiting, especially if they are looking for more tailored account features or benefits.

3. Geographic Restrictions

Due to regulatory and legal constraints, IC Markets does not offer its services to residents of certain countries, including the USA. This limitation restricts the broker's global reach and denies potential traders from these regions the opportunity to utilize IC Markets' trading environment.

4. Customer Service Response Times

While IC Markets generally provides reliable customer support, there have been reports of varying response times during peak hours or periods of high inquiry volumes. This variability can lead to delays in resolving trader queries or issues, potentially impacting the trading experience.


IC Markets stands out in the crowded field of online brokers, offering a secure, regulated trading environment with advanced platforms, competitive costs, a wide range of tradable instruments, and exceptional order execution. However, the complexity of its offerings and platforms may pose challenges for beginners, and its service reach and customer support responsiveness could be improved. Traders looking for a robust trading platform with low fees and a wide range of instruments will find IC Markets an attractive option. Nevertheless, those new to trading or in restricted countries may need to consider these factors carefully.

As with any financial decision, prospective IC Markets clients should conduct their research, considering their trading needs, experience level, and financial goals. The trading world is complex, but brokers like IC Markets continue to provide the tools and resources necessary for traders to navigate this environment successfully.