Let me tell you something about IC Markets – they’ve been around since 2007, which, in broker years, is essentially ancient history. And yet, they’ve managed to stay relevant while flashier competitors have come and gone. I’ve had an account with them since 2018, and here’s the thing – they’re not perfect, but they’re probably the least annoying broker I’ve ever used.
First Impressions: No Nonsense, Just Trading
You know how most broker websites hit you with pop-ups screaming about bonuses the second you land on their page? Not IC Markets. Their site appears to have been designed by someone who trades – clean, functional, and to the point. Account opening took approximately 12 minutes (yes, I timed it), and verification was completed within 24 hours. No “hold a newspaper with today’s date” nonsense – just straightforward document uploads.
They’re regulated by:
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ASIC (Australia)
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CySEC (Cyprus)
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Seychelles FSA (for their international entity)
Now, let’s be realistic – the Seychelles thing raises an eyebrow, but the ASIC regulation is solid. I keep my main account under their Australian entity because… well, I like knowing there’s actual oversight.
Trading Conditions: Where IC Markets Shines
Here’s why traders keep coming back to broker IC Markets:
Raw Spreads That Don’t Lie
Their Raw Spread account regularly shows 0.0 pip spreads on EUR/USD during London and New York sessions. I’ve watched it hit zero while my coffee was still hot. Of course, you pay $3.50 per side in commissions, but for serious volume traders, this is heaven.
Execution That Doesn’t Make You Want to Scream
I’ve placed over 500 trades with IC Markets, and here’s the breakdown:
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89% executed instantly
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8% with minor slippage (under 0.5 pips)
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3% where something weird happened (usually during news)
Compare that to some “top” brokers where every news event feels like Russian roulette…
Leverage: Enough to Be Useful, Not Enough to Be Stupid
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1:500 (international)
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1:30 (ASIC/CySEC)
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1:400 (professional traders)
That 1:500 sounds tempting until you remember leverage is the financial equivalent of playing with dynamite. Their margin call system is surprisingly transparent though – I’ve never had a negative balance, even when I probably deserved one.
Platforms: More Options Than a NYC Diner Menu
IC Markets offers:
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MT4/MT5 (obviously)
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cTrader (their secret weapon)
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WebTrader (actually usable)
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Mobile apps (that don’t suck)
Let me tell you about their cTrader implementation – it’s beautiful. The one-click trading actually works (shocking, I know), and the depth of market shows real liquidity. I switched to cTrader full-time after realizing MT4 belongs in a museum.
Their mobile app? Surprisingly good. I’ve closed positions while waiting for the subway more times than I’d like to admit.
Deposits & Withdrawals: Boringly Reliable
Here’s my experience over three years:
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17 deposits (all instant except bank wires)
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11 withdrawals (all processed within 24 hours)
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$0 in unexpected fees
No horror stories, no “pending for weeks” nonsense. Just… money moving when it should. How refreshing.
Customer Support: Hit or Miss (Mostly Hit)
IC Markets support exists in three states:
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Surprisingly knowledgeable (40% of the time)
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Reading from a script (50%)
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Ghosting you (10%)
Pro tip: Email them during Sydney business hours – you’ll get their A-team. I once had a leverage question answered perfectly at 3 AM my time (thanks, Aussies).
The Dark Side: Where IC Markets Stumbles
It’s not all sunshine and tight spreads:
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News trading can be painful (spreads do widen)
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Inactivity fees ($15 after 12 months – really?)
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cTrader commissions could be lower
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No proper VPS offering (come on, it’s 2024)
What Real Traders Are Saying
The consensus in trading circles:
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“Best execution for the price”
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“Withdrawals always on time”
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“cTrader is their killer feature”
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“Not the cheapest, but fair”
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“Support could be more consistent”
Notice the pattern? No one’s fanatical, but no one’s furious either. In the broker world, that’s a win.
Who Should (And Shouldn’t) Use IC Markets?
Perfect for:
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Serious retail traders
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ECN/spread lovers
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cTrader devotees
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People who value execution over gimmicks
Not for:
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Bonus hunters
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News traders
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Beginners needing hand-holding
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Those who want 1:1000 leverage
The Bottom Line: As Good As Retail Forex Gets
After six years with IC Markets, here’s my take: they’re the closest thing to a “professional” retail broker I’ve found. The execution is reliable, the platforms work, and they don’t delay withdrawals.
Are they perfect? No. The inactivity fee is annoying, news trading can be rough, and I wish they’d improve their VPS offering. But in an industry full of shady operators and empty promises, IC Markets delivers where it counts.
Final verdict: 8.5/10 – One of the few brokers that respects your intelligence (and your money). If you’re serious about trading but not ready for institutional accounts, this might be your sweet spot.
