IC Markets Account Types

This page is a desk-based comparison built from each broker's published pricing and terms and our recorded data; we have not tested these accounts except in our recorded tests.

IC Markets Accounts Overview

IC Markets gives you 61 currency pairs, spanning majors, minors, and exotics, alongside CFDs on crypto, bonds, shares, indices, and commodities such as gold, silver, and oil. The account range splits into several levels built around different trading styles, from commission-free Standard pricing to raw spread pricing. I rate that breadth as one of the broker’s real advantages, because it lets a trader match costs to volume rather than compromise.

The following is an IC Markets account review that will help traders who are considering the platform pick out the best account for their needs.

Demo Account

The first account type that IC Markets offers is a demo account. Demo accounts effectively allow users to open mock trading positions that will move in line with real market data, just as a real trade would. These trades, however, do not involve any real money. Instead, they act as a hypothetical learning tool for those who are new to trading or who need to get used to the IC Markets platform.

A demo account gives a newcomer, or anyone new to MetaTrader 4, a place to test strategies before real money is at stake. I recommend starting here if you have never traded online, since it shows how analysis and trade planning behave once positions open and close.

Standard Account

Next in this IC Markets account review is the Standard account, which is the basic live trading account type offered by this brokerage. Standard account features include:

• Commission-free spreads starting at 0.8 pips
• One-click trading options
• A minimum deposit of US$0 at Raw Trading Ltd

For newer and lower-volume traders, I think the Standard account is good value: it charges no commission and spreads start from 0.8 pips, with a published average of about 1 pip on EUR/USD. As your volume grows, raw pricing with a per-side commission usually works out cheaper, so busier traders tend to move up.

Raw Spread Account

The Raw Spread account, formerly the True ECN account, offers spreads from 0.0 pips with a published average of 0.1 pips on EUR/USD, and charges US$3.50 per side per lot, US$7 round turn. Whether that beats commission-free pricing for you depends on your strategy and volume. I would weigh it by turnover: the more a trader deals, the more the tighter spreads repay the commission.

Scalping means running short-term trades and closing them as soon as a small profit appears, and the Raw Spread fee structure suits that style by keeping the cost of high-volume trading low. Leverage at Raw Trading Ltd reaches 5000:1 on major and minor pairs and 3000:1 on exotics on MetaTrader. That headroom helps scalpers manage margin on quick positions.

cTrader Account

cTrader Raw charges US$3 per side per US$100,000 traded, or US$6 round turn, and the commission scales with the USD value of the position rather than sitting fixed per lot. The charge applies to forex and metals only. If your turnover is heavy, this is the account that fits, and it is the one the highest-volume day traders and scalpers land on.

Like the previous level, this account offers spreads starting at 0.0 pips and staying extremely tight across the spectrum. These tight spreads are supported by the cTrader system’s use of ultra-fast trading and high liquidity sources. Traders can also hedge their trades easily, giving them even more potential ways in which to profit from their positions.

cTrader Raw runs on the cTrader platform rather than MetaTrader 4, so if you are used to MT4 there is a short adjustment. I would not call the learning curve steep, since cTrader is fairly intuitive for MT4 users.

Islamic Accounts

Raw Trading Ltd offers a swap-free option on the Raw Spread and Standard accounts across MT4, MT5, and cTrader, with no swap or interest paid or earned. A flat fee applies instead to any position kept open overnight. The account is for traders of the Muslim faith, and you will be asked to show the broker that you qualify.

Account Trading Conditions

At Raw Trading Ltd you can trade 61 currency pairs, including all the major forex pairs below:

• EUR/USD (Euro and US dollar)
• GBP/USD (British pound and US dollar)
• USD/JPY (US dollar and Japanese yen)
• USD/CHF (US dollar and Swiss franc)
• AUD/USD (Australian dollar and US dollar)
• GBP/EUR (British pound and euro)
• USD/CAD (US dollar and Canadian dollar)
• NZD/USD (US dollar and New Zealand dollar)
• EUR/CHF (Euro and Swiss franc Euro)

And minors and exotics such as:

• USD/HKD (US Dollar and Hong Kong Dollar)
• USD/SGD (US Dollar and Singapore Dollar)
• USD/SEK (US Dollar and Swedish Krona)
• EUR/TRY (Euro and Turkish Lira)

In addition to currency pairs, you can choose to trade with other CFDs such as cryptocurrency (such as Bitcoin), Bonds, Stocks, Indices and Commodities including gold, silver and energies like oil.

IC Markets claims average execution under 36.5 ms from receipt of an order, a figure to read as the broker’s own claim rather than an independent measure. Your orders route to two Equinix data centres, NY4 in New York and LD5 IBX in London, buildings that host over 60 exchanges, 150+ financial service providers, and 400+ buy and sell side firms. The MetaTrader 4 and 5 servers sit in NY4, while the cTrader servers sit in London at LD5.

Our Verdict On IC Markets Accounts

On the whole, I rate the range of account types as a major strength of the spreads and fees in our IC Markets review. More flexibility tends to serve traders better over the long run, whether starting out or moving across from another platform. Opening an account costs nothing: US$0 on Standard, Raw Spread, and cTrader Raw, US$5,000 on Raw Pro, and US$100,000 on Raw Pro+ at Raw Trading Ltd. I would match the three US$0 accounts to your trading style and pick the one that fits.

More About IC Markets Trading Accounts

Trading Platforms

MetaTrader 4, MetaTrader 5, cTrader, and TradingView all run at Raw Trading Ltd, with TradingView coming through the cTrader Raw account. Each platform is available as a desktop terminal, a webtrader, and mobile apps for Android and iOS, and I rate the platform coverage as one of the account range’s real strengths.

All platforms offer automated trading with Expert Advisors on IC Markets MetaTrader platforms and cBots on cTrader. A wide range of trading tools is available including advanced charting and technical analysis tools, a Virtual Private Server (VPS) and social-copy trading services like Myfxbook and ZuluTrade. Please note, hedging is permitted by IC Markets.

Base Currencies

When you open an IC Markets account at Raw Trading Ltd, you can choose one of 10 base currencies: USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.

Funding Options

To deposit and withdraw funds, you can use the following payment methods:

• Credit Card and Debit Card (Visa and MasterCard).
• eWallet (PayPal, Neteller, Neteller VIP, Skrill, Bpay, FasaPay, Rapidpay and Klarna.
• UnionPay, Wire Transfer, Bank Transfer, Broker to Broker, Thai Internet Banking and Vietnamese Internet Banking.

Customer Support

Unlike most brokers, IC Markets offers 24/7 customer support via live chat, phone or email. Local and international phone numbers are available, and the broker is quick to reply to queries. Brick and mortar offices also operate in Cyprus, Australia and Seychelles.

Regulation

Global clients are opened with Raw Trading Ltd, the company behind ic.com, while the other companies listed below each serve their own clients in their own regions. I would confirm which entity you are dealing with before funding an account.

• Your account: Raw Trading Ltd, trading as IC Markets Global: FSA (Seychelles), Securities Dealer licence SD018
• International Capital Markets Pty Ltd: ASIC (Australia), AFSL 335692
• IC Markets (EU) Ltd: CySEC (Cyprus), licence 362/18
• IC Markets Ltd, trading as IC Markets International: SCB (The Bahamas), licence SIA-F214

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