Is IC Markets Safe?
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IC Markets
- Best for Scalpers
- Best for Algo traders
- Best for ECN execution
- Min deposit
- $200
- Spread from
- 0.0 pips
- Max leverage
- 1:500
- Regulation
- ASIC · CySEC
Quick answer
Yes, IC Markets is safe and legitimate. ASIC (Australia, AFSL 335692) and CySEC (EU, licence 362/18) both license active entities within the group. CySEC clients qualify for ICF protection up to €20,000 per person if the entity fails. We opened a live funded account and tested withdrawals in 2026: four Skrill cycles settled in 2 to 6 hours at zero fee. IC Markets is not a scam.
Is IC Markets safe and regulated?
“Is IC Markets safe?” is one of the most common questions about this broker. The short answer is yes, but the protection level on your account depends on which entity holds it.
Three regulators cover the group:
- ASIC (Australian financial regulator): Raw Trading Ltd, licence AFSL 335692. Australian retail clients receive negative balance protection and can raise disputes through AFCA (Australian Financial Complaints Authority), the country’s free financial ombudsman.
- CySEC (EU securities regulator): IC Markets (EU) Ltd, licence 362/18. EU and UK retail clients route here. ICF (Investor Compensation Fund) covers up to €20,000 per retail client if this entity becomes insolvent.
- FSA Seychelles: IC Markets Global Ltd, licence SD018. Most other retail clients route here. No statutory compensation scheme applies; client funds are held in segregated accounts only.
I cross-checked ASIC AFSL 335692 and CySEC 362/18 against public regulator databases in March 2026. Both were active with no enforcement actions, fines, or client warnings on record.
We opened a live funded account and tested withdrawals in 2026. Four Skrill cycles settled in 2 to 6 hours at zero fee.
Two bank wire transfers to a UK account completed within 2 business days.
One key point for UK traders: IC Markets does not hold an FCA licence. UK clients route to the CySEC entity, which carries ICF protection up to €20,000, not the FSCS £85,000 available through FCA-licensed brokers.
For accounts under €20,000 this difference is minor; for larger balances, it is worth factoring into your decision.
IC Markets is not a scam. The broker has operated since 2007 with no public enforcement action at ASIC or CySEC.
Trustpilot shows 4.8 out of 5 from 54,430 client reviews, placing it among the highest-rated retail forex brokers by review volume.
Client funds at all three entities sit in segregated accounts at tier-1 banks, separate from IC Markets’ operating capital. Your deposit cannot be used to pay company debts under any entity.
Key facts
| Detail | IC Markets |
|---|---|
| Regulation | ASIC, CySEC, FSA Seychelles |
| Licence numbers | ASIC AFSL 335692, CySEC 362/18, FSA SD018 |
| Deposit protection | ICF €20,000 (CySEC entity) / None (Seychelles entity) |
| Founded | 2007 |
| Headquarters | Sydney, Australia |
| Minimum deposit | $200 |
Should you trade with IC Markets?
IC Markets is a strong choice for active traders who want tight spreads across multiple platforms. Raw accounts average 0.0 to 0.1 pip on EUR/USD with a $7 commission, near the bottom of the retail ECN range.
cTrader, MT4 and MT5 are all available on a single login without extra fees.
The $200 minimum deposit sits above entry-level brokers like XM ($5). For traders starting with $500 or less, that is a large share of initial capital.
UK traders should note the entity gap: no FCA licence means no FSCS protection. The CySEC entity provides ICF coverage up to €20,000, adequate for most retail account sizes but below the £85,000 FSCS ceiling.
Check your entity in the account agreement before depositing. Start with one small withdrawal to confirm payout speed before committing larger capital.
IC Markets is not available in the US, Canada, Japan, Israel, New Zealand or Belgium.
For a side-by-side comparison with other tight-spread ECN brokers, see our best forex brokers guide.
The full IC Markets review covers spread data from our 14-day test, all three account types, and a live country availability filter.
Frequently asked questions
Which IC Markets entity will hold my account?
IC Markets routes your account to the entity matching your country of residence. Australian residents connect to Raw Trading Ltd (ASIC, AFSL 335692), which carries negative balance protection and AFCA dispute resolution. EU residents connect to IC Markets (EU) Ltd (CySEC, licence 362/18), qualifying for ICF protection up to €20,000. UK residents also connect to the CySEC entity: IC Markets does not hold an FCA licence, so UK clients cannot access FSCS cover of up to £85,000. Residents of most other countries, including Southeast Asia, the Middle East and Africa, connect to IC Markets Global Ltd (FSA Seychelles, SD018), which carries no statutory compensation scheme. Confirm your entity in the account registration agreement before funding.
Does IC Markets protect client funds?
IC Markets holds client funds in segregated accounts at all three entities, separate from company operating capital. Your deposit cannot be used to pay company debts. CySEC entity clients (EU and UK) qualify for ICF (Investor Compensation Fund) protection up to €20,000 per retail client if the entity becomes insolvent. ASIC entity clients have access to AFCA (Australian Financial Complaints Authority) external dispute resolution. Clients on the Seychelles entity have segregated funds but no statutory compensation scheme.
Is IC Markets a scam?
No, IC Markets is not a scam. The broker has operated since 2007 under ASIC and CySEC licences with no public enforcement action, fine, or sanction recorded at either regulator. We verified ASIC AFSL 335692 and CySEC 362/18 against public regulator databases in March 2026, and both were active and clean. Trustpilot shows 4.8 out of 5 across more than 54,000 client reviews. The main caveat is entity routing: traders outside Australia and the EU route to the Seychelles entity, which carries less statutory protection. That is a standard feature of global broker models, not a sign of fraud.
What is the minimum deposit for IC Markets?
The minimum deposit at IC Markets is $200, which applies to Standard, Raw MT4/MT5 and cTrader Raw accounts. There is no lower-entry-point account type. In our testing, four Skrill withdrawals settled in 2 to 6 hours at zero fee, and two bank wire transfers completed within 1 to 2 business days. No withdrawal fees were charged on either method.
Is IC Markets available in the USA?
No, IC Markets does not accept residents of the United States, Canada, Japan, Israel, New Zealand or Belgium. US traders looking for regulated forex alternatives can consider OANDA (NFA/CFTC), Forex.com (NFA/CFTC) or IG US (NFA/CFTC). IC Markets is available in Australia, across EU member states, the UK, UAE and most of Southeast Asia, the Middle East, Latin America and Africa.