Executive Summary & Editorial Rating
AO Brokers Overall Rating: 4.8 / 5.0 | Best for High-Volume Algorithmic & Scalping Traders
IC Markets is widely recognized as a global leader in true ECN/Raw Spread trading. Based on our live account testing across London and New York market sessions, IC Markets delivered consistently tight spreads (averaging 0.1 pips on EUR/USD), competitive commission structures ($3.50 per lot per side), and low latency execution (under 40ms via Equinix NY4 servers). It operates under Tier-1 regulatory oversight by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
1. Regulatory Oversight and Capital Safety
When selecting any online brokerage, regulatory compliance serves as the first line of defense for your trading capital. Under our rigorous 7-pillar review methodology, we verified the corporate licenses of IC Markets across its primary operating entities:
- ASIC (Australia): International Capital Markets Pty Ltd holds AFSL No. 335692.
- CySEC (Cyprus/EU): IC Markets (EU) Ltd operates under License No. 362/18.
- FSA (Seychelles): For international clients requiring flexible leverage tiers.
Client funds are strictly segregated in Tier-1 Australian banks (including National Australia Bank and Westpac). IC Markets provides negative balance protection to all retail traders, ensuring accounts cannot fall into debt. For more on leverage safety, read our guide on forex leverage and margin.
2. Spread Auditing & Live Trading Costs
| Currency Pair / Asset | Standard Account Spread | Raw Spread (Avg) | Commission per Lot (Round-Turn) |
|---|---|---|---|
| EUR/USD | 0.8 pips | 0.1 pips | $7.00 (MT4/5) / $6.00 (cTrader) |
| GBP/USD | 1.1 pips | 0.3 pips | $7.00 |
| USD/JPY | 0.9 pips | 0.1 pips | $7.00 |
| XAU/USD (Gold) | 1.8 pips | 0.9 pips | $7.00 |
Key Strengths
- True raw ECN spreads from 0.0 pips.
- Multiple Tier-1 licenses (ASIC, CySEC).
- Fast execution (<40ms) with Equinix NY4 cross-connect.
- Scalping, hedging, and automated EAs fully permitted.
Limitations
- Initial minimum deposit of $200.
- Standard account spreads carry a 1.0 pip markup.
3. Frequently Asked Questions (FAQ)
Is IC Markets safe?
Yes. IC Markets has operated since 2007 with Tier-1 ASIC and CySEC regulation, segregated accounts, and negative balance protection.
Which account type is best?
The Raw Spread account (on MT5 or cTrader) offers significantly lower total trading costs than the commission-free Standard account.