IC Markets

4.9/ 5

IC Markets is an Australian ECN broker founded in 2007 and widely regarded as the best broker for algorithmic and high-frequency trading. Offering raw spreads from 0.0 pips with deep liquidity and multiple platform choices including MT4, MT5, and cTrader, it is a favourite among professional and retail traders worldwide.

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Min. Deposit

$200

Spread From

0.0 pips

Regulation

ASIC, CySEC, FSA

Full Review

Overview

IC Markets was founded in 2007 in Sydney, Australia and is widely considered one of the best ECN brokers globally, particularly for algorithmic traders, scalpers, and high-frequency traders. The broker processes over $12.55 billion in daily trading volume and maintains a strict true ECN model, passing orders directly to liquidity providers without any dealing desk intervention. It holds licences from ASIC, CySEC, and the FSA of Seychelles.

Pros

True ECN execution: No dealing desk, no requotes, direct market access to top-tier liquidity providers
Ultra-competitive pricing: Raw Spread accounts from 0.0 pips with $3–$3.50/side commission
Multiple platforms: MT4, MT5, cTrader, and TradingView all fully supported
Excellent for algo trading: Fast VPS, FIX API access, and deep MT4/cTrader integration
Broad instrument range: 3,583 tradeable symbols including forex, indices, stocks, and commodities

Cons

No proprietary forex app: The broker lacks a modern in-house trading app; relies on third-party platforms
Limited education: Educational resources are basic compared to competitors like XM or IG
Limited research: No in-house market analysis; third-party tools (AutoChartist) only
Stock CFD gap: Share trading available only through IC Shares (ASX stocks), not via main accounts
Inactive fee risk: $15/month inactivity fee after 1 year of no trading

Spreads & Fees

Account Type	EUR/USD Spread	Commission	All-In Cost
Standard	From 0.62 pips	None	~0.62 pips
Raw Spread (MT)	From 0.0 pips	$3.50/side	~0.72 pips
Raw Spread (cTrader)	From 0.0 pips	$3.00/side	~0.62 pips

Overnight (Swap) Fees: Standard industry rates; Islamic accounts available. Withdrawal Fees: Free for most methods; international wire may incur third-party fees. Inactivity Fee: $15/month after 12 months with no trades.

User Reviews8

Alex P.

5/5

IC Markets is the best for algo trading, full stop. I run EAs 24/5 and the execution is consistently fast. VPS latency to their servers is under 1ms. Raw spreads are genuinely raw.

Tanaka R.

5/5

I've tested many ECN brokers and IC Markets consistently has the tightest spreads during major sessions. EUR/USD routinely shows 0.0–0.1 pips. For a scalper, this is essential.

Claire B.

4/5

Great execution and pricing, but the education section is really lacking. As a newer trader I had to go elsewhere for learning materials. Once you know what you're doing though, the execution is second to none.

Michael F.

5/5

Been with IC Markets for 5 years. The cTrader platform here is excellent — 0.0 pip spreads with only $6 round-turn commission. Best all-in cost I've found for EUR/USD.

Sophie K.

3/5

Good broker but the inactivity fee is annoying for part-time traders. Got charged $15 after a month off. The platform choices are great though and deposits are straightforward.

Omar A.

5/5

Customer support resolved a trade dispute quickly and professionally. The Raw account pricing is legitimately competitive. I've recommended IC Markets to everyone in my trading group.

Nina T.

4/5

Very reliable broker. MT4 works smoothly, spreads are tight, and I've never had a serious issue with execution. The lack of a good proprietary app is the only thing I'd improve.

Raj M.

2/5

The website and education tools feel outdated. For a first-time trader it can be overwhelming. Good pricing though — once I figured out the platforms, trading became much smoother.

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