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Costs, platforms and protection first

IC Markets

Australia · International Capital Markets Pty Ltd

Costs: MT4 Raw: USD3.50 on USD accounts or AUD4.50 on AUD accounts per standard lot per side. Standard: zero commission; EUR/USD minimum 0.8 pips.
Platforms: MT4/MT5; cTrader/TradingView use a separate Raw account.
Client protection: FAQ states retail negative balance protection.

Sources and applicability

Australian entity disclosures; check account/product applicability.

Costs

Account-currency rates for FX/metals. cTrader/TradingView instead charge USD3 per USD100,000 per side. Published minimums are not measured averages.

MT4 Raw commission — account currency / standard lot; EURUSD minimum; cTrader terms ↗ · 2026-09-30

PlatformsAccount overview — platform rows ↗ · 2026-09-29

Client protection

Does not establish Pro coverage or insolvency compensation.

FAQ — Do you offer negative balance protection? ↗ · 2026-09-29

Terms for the named entities. Minimum spreads are not total costs or a cheapest-first ranking.

IC Markets

Active coverage
EST 2007

Brand overview and official site

IC Markets operates through 3 legal entities recorded in the current FXVeritas research file across Australia, Cyprus, and Seychelles.

Check your entity Compare with other brokers

Visit official website

Official website snapshot

Requested: icmarkets.com

Captured from: ic.com/en

Captured: Sep 8, 2026

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Where can residents use IC Markets?

Confirmed residency evidence and an exact legal-entity route are both required. Account approval and product access remain subject to the entity’s terms.

Residency support is not confirmed here for 249 other countries or regions.

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Research counts and additional checks

Key Facts

From the current research file.

3
Legal entities in research file
3/3
Verified licences in research file
Varies by entity
Client protection
5
Official-source conflicts
Aug 23, 2026
Last checked
Active
Research coverage

Catalog-applicable comparison currently records 2 entities and 1 of 2 licences as verified. Research-file totals above can be larger.

Before you trade

What our research means for you

Entity matters
Regulator and client protection can differ by legal entity for IC Markets.
Licence verification
This research file currently records 3 of 3 current licences as verified against official records.
Client protection
Client-protection evidence: IC Markets (EU) Ltd
Sources and scope →
Official-source conflicts
This research file records 5 official-source conflicts. Official sources disagree on at least one documented fact in the file.

Which entity applies to you?

Country

This control only records a country you choose. It does not infer which entity would accept you.

View recorded entities

This page presents factual information from public records. It is not financial advice.

Evidence Trail

View all evidence →

Regulator register
data.gov.au
Sep 19, 2026
Open source
Official website homepage
icmarkets.com
Aug 23, 2026
Open source
Seychelles regulatory page
icmarkets.com
Aug 23, 2026
Open source
Australia regulatory page
icmarkets.com.au
Aug 23, 2026
Open source

Your next step

Check the contracting entity and current terms on the official website before applying. A website link does not confirm account approval.

Visit IC Markets official site

About IC Markets

IC Markets is a brand used by three companies isolated in this record: International Capital Markets Pty Ltd (Australia), IC Markets (EU) Ltd (Cyprus), and Raw Trading Ltd (Seychelles).

Official sites map Australia to the ASIC company, EEA visitors of icmarkets.eu to the CySEC CIF, and the global regulation page to Raw Trading Ltd.

View all research →

Research summary

Full research file

From the full research file on record.

The catalog-applicable comparison scope is narrower, so its counts can be lower. Neither figure contradicts the other.

Research confidence

High

Research completeness/source coverage; not broker safety or suitability.

Licence verification

3 regulator-registers confirmed

3 licences recorded

Primary sources

Research file review

Aug 23, 2026

Latest source check

Sep 30, 2026

Outstanding issues

Official-source discrepancies 5 View discrepancies
Research gaps 4 View gaps

Researched by FXVeritas Research Desk · Evidence standard: Primary-source verification · Research evidence methodology · Editorial independence · Corrections policy

Research notes

Editorial summary from the research file. Recorded answers follow below.

IC Markets is a brand used by three companies isolated in this record: International Capital Markets Pty Ltd (Australia), IC Markets (EU) Ltd (Cyprus), and Raw Trading Ltd (Seychelles).

Official sites map Australia to the ASIC company, EEA visitors of icmarkets.eu to the CySEC CIF, and the global regulation page to Raw Trading Ltd.

Legal entities & current licences

Brand is not a licence. Each legal entity is listed with the current licence record(s) isolated for that entity.

IC Markets

International Capital Markets Pty Ltd

Jurisdiction: Australia
Company number: ABN 12 123 289 109
Registered office: Suite 2, Level 6, 50 Carrington Street, Sydney, NSW 2000
Status: stated AFSL holder on official Account Terms dated 29 Apr 2024; ABR ABN 12 123 289 109 Active from 30 Jan 2007
Role: Australian AFSL holder on icmarkets.com.au. Account Terms define ‘we’ as this company only.
Parent: Not recorded

Current licence evidence

ASIC · 335692

Regulator verified

Regulator: ASIC
Licence number: 335692
Status: matched on ASIC current AFS extract 202609 as INTERNATIONAL CAPITAL MARKETS PTY. LTD.; start date 02/07/2009
Permissions: Australian Financial Services Licence as listed on the ASIC current AFS extract.
Issue date: 2009-07-02
Checked: Sep 19, 2026

Research-file sourceASIC register

IC Markets (EU) Ltd

Jurisdiction: Cyprus
Company number: HE 356877
Registered office: 86 Franklinou Roosvelt, 4th floor, Office 401, 3011 Omonoia, Limassol, Cyprus
Status: listed on CySEC CIF register
Role: CySEC CIF. Official FAQ: incorporated 15 June 2016; licensed operations started 25 June 2018.
Parent: Not recorded

CySEC · 362/18

Regulator verified

Regulator: CySEC
Licence number: 362/18
Status: listed on CySEC CIF register
Permissions: Reception and transmission of orders; Execution of orders on behalf of clients; Dealing on own account
Issue date: 2018-06-25
Checked: Sep 12, 2026

Research-file sourceCySEC register

Raw Trading Ltd

Jurisdiction: Seychelles
Company number: 8419879-1
Registered office: Eden House, 1st Floor, Eden Island, Mahe, Seychelles
Status: listed on FSA Seychelles capital-markets register
Role: Official global regulation page: Raw Trading Ltd, IC, is authorised by the Seychelles FSA as a Securities Dealer under licence SD018. FSA capital-markets list names trade names IC Markets Global and IC MARKETS (SC).
Parent: Not recorded

Financial Services Authority (Seychelles) · SD018

Regulator verified

Regulator: Financial Services Authority (Seychelles)
Licence number: SD018
Status: Raw Trading Ltd is listed on the FSA Seychelles capital-markets page. SD018 is printed on official regulation and FSA T&Cs, not on that list row.
Permissions: Securities Dealer as stated
Issue date: Not recorded
Checked: Sep 12, 2026

Research-file sourceFinancial Services Authority (Seychelles) register

Client routing

Only regions named on an official page or legal document. A site loading is not acceptance.

Users of icmarkets.com.au legal/regulation pages

International Capital Markets Pty Ltd

ASIC · 335692

Region

Users of icmarkets.com.au legal/regulation pages

Legal entity

International Capital Markets Pty Ltd

Regulator / licence

ASIC · 335692

EvidenceAU regulation page and Account Terms are issued for International Capital Markets Pty Ltd only.

Users of icmarkets.eu / CySEC-approved domain

IC Markets (EU) Ltd

CySEC · 362/18

Region

Users of icmarkets.eu / CySEC-approved domain

Legal entity

IC Markets (EU) Ltd

Regulator / licence

CySEC · 362/18

EvidenceEU regulation page and CySEC register: IC Markets (EU) Ltd; approved domains www.icmarkets.eu and https://www.ic.com/eu.

Users of icmarkets.com/global regulation page

Raw Trading Ltd

FSA Seychelles · SD018

Region

Users of icmarkets.com/global regulation page

Legal entity

Raw Trading Ltd

Regulator / licence

FSA Seychelles · SD018

EvidenceGlobal regulation page names Raw Trading Ltd / SD018 as the authorised securities dealer.

Historical licences

Withdrawn, revoked, or closed retail authorisations. Not current onboarding licences.

No historical licence row was isolated.

Regulatory and corporate history

Dated events from official pages or registers. Incidents are historical records, not current licence status.

2016-06-15
IC Markets (EU) Ltd incorporated in Cyprus (official FAQ).
Incorporation
2018-06-25
CySEC licence 362/18 issued; official FAQ says regulated operations started that day.
Licence

Client protection

Shown per legal entity. Group-wide claims are not used.

International Capital Markets Pty Ltd

Segregated client money: Official AU regulation page: client funds in segregated trust accounts at National Australia Bank; not used for operational expenses. Account Terms: Client Moneys Trust Account under s981B / Client Money Rules; interest retained by IC Markets.
Negative balance protection: Retail: provided; not liable for negative equity after default. Wholesale: discretionary NBP up to AUD$100,000 of combined equity, once only; may be withheld for misconduct/market abuse.
Investor compensation: No statutory compensation scheme stated. AFCA membership 13527 for complaints.
Compensation limit: Not recorded
Retail / professional difference: Retail NBP is stated as provided; AFCA available / Wholesale NBP is discretionary, one-time, capped, and can be refused for misconduct
Insolvency treatment: unknown beyond CMTA wording

IC Markets (EU) Ltd

Segregated client money: Official FAQ: segregated trust accounts with top-tier European banks under MiFID client-money rules; held separately from company funds.
Negative balance protection: Inactivity-fee FAQ: fees will not create a negative balance. Broader NBP clause not extracted from a client agreement in this pass.
Investor compensation: ICF up to €20,000 per client as stated on official FAQ. Professional clients excluded.
Compensation limit: EUR 20000
Retail / professional difference: ICF eligible (subject to ICF rules); leverage up to 1:30 / No ICF; professional leverage up to 1:500
Insolvency treatment: ICF is a failure-to-return-funds scheme as described; not a full-balance guarantee

Raw Trading Ltd

Segregated client money: Official global regulation page: client-segregated accounts with top-tier banks. FSA T&Cs: Client Moneys Account (CMA). Bank names not stated.
Negative balance protection: not stated on the opened regulation page
Investor compensation: not stated
Compensation limit: Not recorded
Retail / professional difference: unknown / unknown
Insolvency treatment: unknown

Accounts and trading conditions

Advertised figures only. Observed spreads were not measured. Marketing ECN/STP is not treated as the legal model.

Homepage: +2850 instruments. Raw Spread comparison table: 2250 tradable instruments. Official conflict.
Homepage and Raw Spread page advertise 0.0 pip spreads and average EURUSD 0.1 pips.
Observed prices not measured.
EU retail conditions (1:30, ICF) are not the global Raw Spread table.

Recorded account types: 5 account types
Terms: Varies by account
Recorded entity scopes: Advertised on icmarkets.com/global; Seychelles entity context · Advertised on icmarkets.com/global · Advertised on global account overview · Advertised as NEW on global account overview; early access
Observed spread: Not measured

Account	Minimum deposit	Spread	Commission	Leverage	Margin / stop-out	Swap / Islamic	Execution type
Raw Spread Entity scope: Advertised on icmarkets.com/global; Seychelles entity context	Account overview table: $0. Start-forex page on the same global site: $200. Official conflict.	Advertised minimum spread: 0.0 pipsAdvertised typical spread: EURUSD 0.1 pips advertised average 24/5	$3.50 per lot per side ($7.00 round turn) on MetaTrader	Account overview / Raw Spread page: 1:5000. Start-forex page: up to 1:1000. Official conflict.	Not recordedStop out: 50%	Swaps: Swap-free accounts listed as available on the comparison tableIslamic: Swap-free listed; eligibility not opened as a legal policy	Advertised no dealing desk, ESP from providers, no requotes. Marketing, not a legal model.
Standard Entity scope: Advertised on icmarkets.com/global	$0 on account overview; $200 on start-forex page	Advertised minimum spread: 0.8 pipsNot recorded	$0	1:5000 on Standard page / overview; 1:1000 on start-forex page	Not recordedStop out: 50%	Swaps: Swap-free listed on comparison tableIslamic: Swap-free listed	Advertised raw pricing environment; marketing
Raw Spread (cTrader / TradingView) Entity scope: Advertised on global account overview	$0	Advertised minimum spread: 0 pipsNot recorded	$3.0 per USD 100k	1:1000	Not recordedStop out: 50%	Swaps: Swap-free listedIslamic: Swap-free listed	unknown legally
Raw Pro Entity scope: Advertised as NEW on global account overview; early access	$5,000	Advertised minimum spread: 0.0 pipsNot recorded	$1.5 per lot per side ($3.0 round turn)	1:5000	Not recordedStop out: 50%	Swaps: Swap-free listedIslamic: Swap-free listed	unknown legally
Raw Pro+ Entity scope: Advertised as NEW on global account overview; early access	$100,000	Advertised minimum spread: 0.0 pipsNot recorded	$1.0 per lot per side ($2.0 round turn)	1:5000	Not recordedStop out: 50%	Swaps: Swap-free listedIslamic: Swap-free listed	unknown legally

Raw Spread

Entity scope: Advertised on icmarkets.com/global; Seychelles entity context

Minimum deposit: Account overview table: $0. Start-forex page on the same global site: $200. Official conflict.
Leverage: Account overview / Raw Spread page: 1:5000. Start-forex page: up to 1:1000. Official conflict.
Advertised minimum spread: 0.0 pips
Advertised typical spread: EURUSD 0.1 pips advertised average 24/5
Commission: $3.50 per lot per side ($7.00 round turn) on MetaTrader
Execution type: Advertised no dealing desk, ESP from providers, no requotes. Marketing, not a legal model.
Margin call: Not recorded
Stop out: 50%
Swaps: Swap-free accounts listed as available on the comparison table
Islamic: Swap-free listed; eligibility not opened as a legal policy

Standard

Entity scope: Advertised on icmarkets.com/global

Minimum deposit: $0 on account overview; $200 on start-forex page
Leverage: 1:5000 on Standard page / overview; 1:1000 on start-forex page
Advertised minimum spread: 0.8 pips
Advertised typical spread: Not recorded
Commission: $0
Execution type: Advertised raw pricing environment; marketing
Margin call: Not recorded
Stop out: 50%
Swaps: Swap-free listed on comparison table
Islamic: Swap-free listed

Raw Spread (cTrader / TradingView)

Entity scope: Advertised on global account overview

Minimum deposit: $0
Leverage: 1:1000
Advertised minimum spread: 0 pips
Advertised typical spread: Not recorded
Commission: $3.0 per USD 100k
Execution type: unknown legally
Margin call: Not recorded
Stop out: 50%
Swaps: Swap-free listed
Islamic: Swap-free listed

Raw Pro

Entity scope: Advertised as NEW on global account overview; early access

Minimum deposit: $5,000
Leverage: 1:5000
Advertised minimum spread: 0.0 pips
Advertised typical spread: Not recorded
Commission: $1.5 per lot per side ($3.0 round turn)
Execution type: unknown legally
Margin call: Not recorded
Stop out: 50%
Swaps: Swap-free listed
Islamic: Swap-free listed

Raw Pro+

Entity scope: Advertised as NEW on global account overview; early access

Minimum deposit: $100,000
Leverage: 1:5000
Advertised minimum spread: 0.0 pips
Advertised typical spread: Not recorded
Commission: $1.0 per lot per side ($2.0 round turn)
Execution type: unknown legally
Margin call: Not recorded
Stop out: 50%
Swaps: Swap-free listed
Islamic: Swap-free listed

MT4
MT5
cTrader

Execution and conflicts

Legal documents first. Advertised ECN, STP, or NDD is not certified unless a legal policy confirms it.

Advertised model: Global Raw Spread page: Raw Pricing, executable streaming prices from providers, no dealing desk, no price manipulation, no requotes. Average execution under 40ms on homepage. Not a legal model.
Legal model: AU Account Terms: IC Markets may refuse orders including black-box, scalping or similar; may set off negative balances. CySEC register for the EU entity includes dealing on own account. FSA T&Cs: Raw Trading Ltd acts as principal not agent.
Principal or agent: EU: dealing on own account on CySEC register. AU: issuer of OTC products under the Account Terms. Seychelles FSA T&Cs: acts as principal not agent. Global marketing describes an agency-like raw-pricing bridge. Different entities.
Venues: Advertised Equinix NY4 for MT4/MT5; London for cTrader table
Liquidity-provider disclosure: Up to 25 institutional-grade sources advertised; not named.

Recorded policies

slippage

Homepage marketing: reduced slippage. Not a legal guarantee.

requotes

Global marketing: no requotes. Not found as a legal guarantee.

last_look

unknown

stop_loss

Global Raw Spread page: no minimum order distance; freeze level 0; stops may be placed at market. Marketing/product page, not AU legal terms.

negative_pricing

AU legal: retail NBP; wholesale discretionary. Global NBP not stated on opened regulation page.

abnormal_markets

unknown from opened Seychelles pages

scalping

Global Raw Spread page: scalping allowed, no restrictions, HFT/EA friendly. AU Account Terms: may refuse orders relating to black-box trading, scalping or similar; lists scalping among prohibited market-abuse examples.

hedging

Global Raw Spread page: hedging allowed; no FIFO; hedge margin may vary by product/platform.

Global pages: EAs allowed; MQL4/MQL5; algo share advertised at 60% of trades. AU terms may refuse black-box / HFT.

arbitrage

unknown as a defined permission; AU terms list market manipulation / fictitious transactions among refuse grounds

Funding and withdrawal

Only methods and rules isolated on opened official pages.

Methods

credit/debit card, Skrill, wire transfer, Neteller, FasaPay, China Union Pay, Bpay, broker to broker transfer

Global Standard page lists the methods above for the global/Raw Trading context.
Homepage: instant deposit, fast withdrawal, 0% commission — marketing.
AU and EU legal funding rules were not opened beyond AU client-money trust wording.

Sources

Primary-source ledger for this public record. Affiliate and coupon pages are excluded.

Official broker website
Official broker source · Unverified · Not checked
Official page · other · 2026-09-12View source
Official page · other · 2026-08-23View source
Official page · other · 2026-08-23View source
ASIC current AFS extract 202609
Regulator · regulator · 2026-09-19 · 2026-09-10View source
Official page · other · 2026-08-23View source
Official page · other · 2026-08-23View source
Official page · other · 2026-08-23View source
Official page · other · 2026-08-23View source
Official page · other · 2026-08-23View source
Official page · other · 2026-08-23View source
Official page · other · 2026-08-23View source
Official page · other · 2026-08-23View source
Official page · other · 2026-08-23View source
Official page · other · 2026-08-23View source
Official page · other · 2026-08-23View source
Official page · other · 2026-08-23View source

Official-source discrepancies

Official pages disagree. FXVeritas does not pick a winner. This is not a fraud or safety label.

Official-source discrepancy