IC Markets review: Regulations, Platforms, Trading instruments, and user ratings.
IC Markets is in my opinion the best broker you can find on the market at the moment. Their support is always online and really always superfast and helpful. Also, the spreads and order execution works flawlessly. Deposit and withdrawal also go smoothly. Weaknesses I see in the limits of the number of accounts that can be created. Unfortunately, even created accounts (demo) can no longer be deleted, so that you eventually get to the limit. All in all very recommendable!
What is the IC Markets?
IC Markets is an Australian forex broker established in 2007 and regulated by ASIC, CySEC, SCB (Bahamas), FSA (Seychelles), and FSCA (South Africa).
IC Market offers popular MT4, MT5, and cTrader trading platforms; all are available for desktops, web browsers, and mobile devices.
ICM Trading instruments include over 60 currencies, 10+ Cryptocurrencies, and over 1,600 CFDs including Gold, Silver, Stocks, Indexes, Bonds, and more.
ICMarket also offers VPS service, cAlgo FIX API, more than 20 MT4 add-ons and indicators, educational content, Myfxbook AutoTrade, ZuluTrade, and market analysis blog.
Please read IC Markets Reviews below and share live trading experiences with this broker.
2022-10-08: CONSOB of Italy has issued a warning against and blocked internet access to Raw Trading LTD - ICMarkets.com. CLICK HERE to verify.
January-February 2022: A large number of suspicious and fake positive reviews have been submitted for IC Markets.
Other websites of this company include ICMarkets.com.au and ICMarkets.eu.
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Broker Details.
Minimum Trade Size: 0.01.
Maximum Leverage: 500:1.
Minimum to Open Live: $200.
Established: 2007 Address: Level 4, 50 Carrington Street, Sydney, NSW 2000, NSW 2000, Australia Contact: support@icmarkets.com, +61 (0)2 8014 4280 Regional offices: Regulators: ASIC #AFSL No. 335692, SCB #SIA-F214, CySEC #362/18, FSA-S #SD018, FSCA #50715 Prohibited countries:
Trading platforms: MT4, MT5, cTrader Web Trading: ✅ Yes Mobile Trading: ✅ Yes Currencies:
Trading Instruments.
Trading Conditions.
Managed Accounts & Social Trading.
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, AloGateway, B2B, Ecommpay, FasaPay, Ngan Luong, PayPal, PayToday, SafeCharge, SEPA (Single Euro Payments Area), Skrill, Trust Payments.
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Local Bank Transfers, Neteller, PayPal, Skrill.
3.599 • 1973 REVIEWS.
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Traders Reviews.
Milan, Italy,
Dec 28, 2022,
Registered user.
ICMarkets, the most reliable broker.
Service use: Live Length of use: 6-12 Months.
ICMakets is the most reliable broker I'm working with. I'm with them since a long time. Never had a problem with withdrawal and the support is always ready to help 24x7, ready to answer to any issue.
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Poland, Poland,
Dec 26, 2022,
Registered user.
Very good service, good trading experience.
Service use: Live Length of use: over 1 Year.
I'm using IC Markets over long time. The support is very good, they answer most of my questions (which is not so easy in general). The trading experience on demo accounts is very good. I'm using the demo accounts mostly for developing automatic trading applications. I don't have too much experience with live trading yet, just few transactions, but I didn't have any issues so far.
Deposits by wire transfer (SEPA) are quite quick (2 days), however some other brokers have them quicker (1 day for booking with almost online info the the money already arrived). I know this is the Bank issue not the broker probably but this is the point for improvement (that's why I give 4 stars, not 5).
I didn't tried withdrawals yet and as I can see some other comment it have to be tested.
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Caruaru, Brazil,
Dec 26, 2022,
Registered user.
Excellent broker. I am with them since 2022 and I have nothing to complain.
Service use: Live Length of use: over 1 Year.
Fast deposits and withdraws, secure broker, and it's the most recommended in the world.
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London, United Kingdom,
Dec 22, 2022,
Registered user.
No Problems.
Service use: Live Length of use: 0-3 Months.
I have been using IC Markets for a few months now and I have had no problems. In fact, I lied. I had one issue when I was attempting to withdraw funds but the customer support team via live chat were super helpful. My problem was resolved in 15 minutes.
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Brasil, Brazil,
Dec 22, 2022,
Registered user.
[UPDATE] ICMarkets solve my withdrawal issue.
Service use: Live Length of use: over 1 Year.
I'm changing my review because I just received a call from them, and they solved my withdrawal issue.
In face to the high demand requests of the end of the year, they took longer than usual to answer my emails.
Furthermore, there was also an unusually long delay for the withdrawal request been completed.
Therefore, I am changing my last review and reaffirming that ICMarkets is a reliable broker.
Dec 21, 2022 - 1 Star Hello guys,
Be very careful with ICMarkets. If you had gains, they will not refund your money.
I have a 5 years account, but decided to withdraw all my money. They refunded part of it, but after they realized that I was taking all the money, first they asked for a bunch of additional documentation which I got with a lot of difficulty, but lastly and the worst part is that they confirmed the withdrawal of the money, but actually that money never arrived at my account in Brazil. I tried several times both via chat and via email to request some kind of proof of the transfers like some invoice or receipt, but they never sent them. At the end I lost almost 10k dollars.
P.S.: My personal bank manager checked the transaction on systems and he never found the supposed order that ICMarkets would have sent.
Reply by IC Markets submitted Dec 28, 2022 Dear Billy Gui,
We’re sorry to hear about the issue faced with receiving funds to your bank account.
We can see we are currently in communication with you regarding your withdrawal, and you informed us that your bank has certain difficulties to accept the transfer.
Thank you for being cooperative on this matter and understanding that this issue is beyond of our control, however, we remain open for any assistance that you may require in resolving the matter.
Kind regards, IC Markets Team.
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Brazil, Brazil,
Dec 21, 2022,
Registered user.
Deceitful broker, steals customers who have an International account.
Service use: Live Length of use: over 1 Year.
In December I did another review on Icmarkets and commented on problems I had with the broker. I come here to reinforce all the problems (read below).
In addition to what has already been mentioned, it should be the investor's right to execute an order whenever he sees fit. Be it news or not. It is up to the broker to guarantee the price that is on the screen when we place the purchase order. It is not possible that in 2022 there are still brokerages stealing from customers in the face, claiming that a huge delay in execution is the fault of the investor, especially using state-of-the-art computers and internet!
I complained to them by email and commented here on their FPA page! After that, a man named George P. started exchanging emails with me.
I reported everything that had happened and he assured that they had carried out a thorough investigation and had not located any error on the part of the broker (What a novelty, isn't it?). BUT, he returned my money, according to him, in "good faith". It sounds like a joke, but that's what he said.
The truth is that he refunded me the money stolen from my account through manipulation to later induce me to modify my complaint here at the FPA.
I have ALL the necessary proof should I need to post it here.
Luckily I was able to recoup my last loss in the amount of $198. But the truth is, that means nothing over the years of partnering with ICMarkets, where I've already lost around $10k.
I recommend that anyone who wants to do business with a serious broker, run from ICMarkets. Especially not if you don't reside in EU countries, where regulations are stronger. Residents of countries in Brazil (my case), have their accounts opened in tax havens, leaving it up to the broker to do whatever he wants with our money, without duly answering for it.
Another thing: beware of these reviews from people who simply don't exist. There are probably ways to make it appear that the broker is really serious and honest with his clients, when in fact it is something else.
Stay away from ICmarkets if you value your money. Believe who is telling the truth! Don't listen to these highly rated reviews of random names and people that don't exist.
A few days after my complaint, there was another comment from another Brazilian reporting problems with them. This is very serious!
Today I went to access the brokerage to show a colleague who also uses it what happened, and they had canceled my account. It no longer enters MT5. Luckily I have saved files.
Dec 13, 2022 - 1 Star I got access to the financial market years ago, and honestly, I was a trader who accumulated losses over the years due to my lack of experience.
Over time, I honed my skills, never giving up on the dream of making a living in the financial market.
The last few months, it was practically broke! My account balance got to around $15 and slowly I got back up to $800 in 3 months before it all started to come crashing down fast.
It was a mix of errors at the brokerage house with the psychological despair of someone who sees their platform crash countless times, without knowing where the price is going (locks current market value, locks the exit button, locks everything)! Sure, if I'm making a profit on some trades.
On 12/13, the important American PCI came out, which in times of crisis tends to bring a lot of liquidity to assets. I entered a buy trade on EURUSD and in addition to my trade being delayed by the broker, she simply canceled the order with only $20 in profit! In desperation, I entered another buy order on XAUUSD, which simply crashed without me being able to match the price difference, being canceled again after the price dropped sharply and ended my margin! Generated me a loss of $198!
It is obvious that I opened the order in Gold out of desperation, when I saw my order CANCELED in EURUSD and the price had not gone against my operation!
ICMarkets knows its traders and does a study of them, and it is the counterpart of traders whose history is losing trades. However, they manipulate the market from the moment you start making a profit, making it IMPOSSIBLE for you to remain positive in the market.
It is a great disappointment to see that a company like ICMarkets has become this type of broker, which steals from the customer in the face and continues to be treated as a class A broker!
Stay away from ICMarkets if you value your money as they will do anything and everything to take your pants off!
I complained in the chat and they told me to open an investigation ticket, but we already know that nothing will come of it! I'll wait and update here as there's nothing else I can do.
Reply by IC Markets submitted Dec 22, 2022 Dear Guisgs,
We’re sorry to hear about your experience and understand your frustration.
Please note that you were trading during an extremely volatile period, where delays in execution and slippage are to be expected. This is not abnormal and not isolated to ICMarkets only. All risks involved in trading CFDs are outlined in our legal documents that can be found on our website.
We can see that a member of the support team has provided a full investigation report showing how your orders were executed and filled. Moreover, one of the trades in question was closed with a positive slippage at a more favourable price. We are always willing to work together with our clients to maintain positive relationships and happy to see that the matter was successfully resolved.
Our support team are on hand 24/7 should you require anything further.
Kind Regards, IC Markets Team.