IC Markets review 2026: real costs, deposits and withdrawals, and who it suits

The conclusion first: IC Markets is a broker I place among the cheapest on the market for high-frequency traders, but it is not a broker I would recommend to a beginner opening a first account with a few dozen dollars.

No bonus, support mainly in English, commission on the Raw account: this broker picks its clients, and its clients are people who trade a lot and count fees to the cent.

IC Markets was founded in 2007, is headquartered in Australia / Seychelles, and operates under three licences: ASIC (Australia), CySEC (Cyprus) and SCB (Bahamas). Of these, ASIC is the one most worth discussing, because it belongs to the group of strictest regulators and you can look it up yourself.

ASIC's AFS register, August 2026 edition:

But an ASIC licence does not mean you are protected by ASIC. Most Vietnamese clients are placed with the international legal entity (Global/SCB); in exchange for higher leverage, you get Bahamas-level protection, not Australian protection.

The broker segregates client money and offers negative balance protection for retail clients; its reputation for execution transparency is fairly good, with few serious reports of blocked withdrawals.

To be sure, look up the licence number yourself on asic.gov.au. As for Vietnam, IC Markets, like every forex broker, is not licensed in Vietnam, and you bear the responsibility yourself.

This is the main reason people choose IC Markets, so I will do the maths for you. The Raw account has an average EUR/USD spread of ~0.1 pip, plus commission of 3.5 USD/lot per side.

Adding both together, the all-in cost is still among the lowest on the market, with strong liquidity and little slippage. If you place 1 trade a month, this difference is meaningless; if you place a few dozen trades a week, it adds up to a very significant amount.

The three main account types:

Raw Spread (MT4/MT5), spreads from 0.0 pip + commission 3.5 USD/lot per side, 7 USD round turn. The standard choice for scalping/EAs.

Standard, spreads from 0.8 pip, no commission. Simple, suits people who trade infrequently.

cTrader Raw, 0.0 pip + commission 3 USD per 100,000 USD traded, running on the cTrader platform.

Maximum leverage depends on the legal entity (the offshore entity offers higher levels). My view does not change: leverage is a tool, not an advantage; limit your own risk per trade to 1–2% of capital.

IC Markets' account page, which I read on 20/10/2026, lists no minimum deposit for Raw Spread, cTrader or Standard. On entry cost alone, the broker is no harder to start with than XM (5 USD) or Exness.

The real difference is the cost model. Raw Spread charges 3.5 USD/lot per side, 7 USD round turn, on top of spreads from 0.0 pip; Standard has no commission but spreads from 0.8 pip.

Practising with a few dozen dollars? Learn the basics on a demo account first. The cost model only shows its value once you trade often and count fees per lot.

The broker also has no bonus programme at all. People who like promotions will find it “dry”. But dry has its good side: no bonus means no withdrawal conditions tied to a bonus.

IC Markets supports bank transfer, cards, e-wallets and PayPal; most deposits/withdrawals carry no fee from the broker's side (intermediary gateways may charge separately).

Something to know in advance: some users report that withdrawals sometimes take longer because of the ASIC compliance process, and the broker has no representative office in Vietnam, so getting urgent help is harder than with XM or Exness.

Complete KYC as soon as you open the account, and make a small test withdrawal before putting in large capital.

The official IC Markets website is now ic.com.

IC Markets is one of the few brokers popular with Vietnamese traders that supports all of MT4, MT5 and cTrader; cTrader in particular is well regarded for ECN trading, viewing depth-of-market and scalping. The broker allows EAs and offers VPS support so robots can run 24/7.

This platform set is clearly aimed at serious users or automated trading, not at beginners who need an easy interface.

The two things IC Markets is most often criticised for, no promotions and withdrawals that sometimes take longer due to ASIC compliance, I read instead as good signs for professional traders.

No bonus means no volume clauses built into bonus money. A strict ASIC process means the broker sits under a tough regulatory framework.

In exchange for that dryness you get what scalpers and EA users need most: extremely low raw spreads, stable execution, rare complaints about blocked withdrawals. One person's weakness is another person's strength. IC Markets is a textbook example.

My conclusion: with an ASIC/CySEC/SCB record and 19 years of operation since 2007, IC Markets is not a scam operation, and I also found no evidence of systematic fraud. But isolated withdrawal complaints are real, and you should know about them before depositing.

The most serious case reported: a trader says that when the account reached a profit of ~4,000 USD, the withdrawal function was locked, and then an “abnormal price adjustment” wiped out both the profit and the capital, while that same person's other account was not affected.

There are also cases of an account deleted after a period of withdrawal errors, or a banking gateway not opening so that a withdrawal hung and was then returned.

On the other side: the broker is tightly regulated by ASIC, and in the public discussions, most participants did not believe the “misappropriation” allegations.

They felt that most withdrawal problems stem from user error or not reading the rules carefully.

Your job when trading at any broker, not just IC Markets: do KYC from the start instead of waiting until you withdraw, test the withdrawal cycle with a small amount, and keep evidence of your trades in case you need to file a complaint.

There is also a type of negative report that is far more common than scam complaints: misunderstanding account conditions, blowing an account because of high leverage, and being asked for additional verification when withdrawing a large amount. The third is a compliance process, not a trick to hold your money; do not misread it as a scam.

The strengths fit neatly into four points: very low raw spreads on the Raw account; support for both cTrader and MT4/MT5; fast execution, suited to scalping/EAs; good liquidity.

The limitations are just as clear: commission on Raw (must be counted in the total cost); support mainly in English; and not licensed in Vietnam.

My verdict: if you already have experience, trade at high frequency, and prioritise low costs and strong platforms, IC Markets deserves to be at the top of your list. If you are new and need Vietnamese-language support, XM, Exness or HFM suit you better at this stage.

The Raw spread is the main reason to choose IC Markets; as for whether the all-in cost is really cheap for the way you trade, see also the IC Markets review on DCuptrend.