IC Markets is a low-spread forex and CFD broker for non-US traders who care about execution cost, platform choice and scalping conditions. The headline spread is attractive, but the real decision is regulation, account entity, commission, platform and whether CFDs are suitable for the trader's jurisdiction.
This review was refreshed on July 21, 2026 using IC Markets account pages. Current public material still emphasizes Raw-style accounts with average EUR/USD spreads around 0.1 pips and a $3.50 per-side commission per standard lot on relevant accounts. Entity, product and leverage rules vary by region, so the exact onboarding entity matters.
Raw spread accounts are for active traders
IC Markets' Raw account structure is built for scalpers, high-volume forex traders and expert-advisor users. The quoted spread can be very low, but the commission must be added to calculate the all-in cost.
A Standard account can be simpler because the cost is embedded in the spread. A Raw account can be cheaper for active traders, but only after commission, slippage and financing are included. Compare the current IC Markets site and your regional account page before opening an account.
Platform choice is a major strength
IC Markets supports the familiar forex stack: MetaTrader 4, MetaTrader 5 and cTrader depending on account and region. That matters because many forex traders already have indicators, expert advisors or execution habits tied to one of those platforms.
If you need a broker mainly for TradingView-style charting, IC Markets is not the natural first choice. If you need low-cost CFD execution through MT4, MT5 or cTrader, it belongs on the shortlist with Pepperstone and OANDA.
US availability is a hard limitation
IC Markets is not a US retail forex broker. US-based traders should not treat this review as a recommendation to bypass local rules. They should compare regulated US-accessible alternatives and understand the difference between spot forex, CFDs and exchange-traded futures.
For international traders, entity selection still matters. ASIC, CySEC, FSA and other entities can differ in leverage, protections, product availability and dispute handling.
Execution claims need practical testing
Low average spreads and fast infrastructure are useful, but every trader should test execution in the exact market and session they trade. News events, rollover, thin liquidity and high-volatility candles can create slippage even at strong brokers.
Run small live orders before scaling an expert advisor. A demo account does not prove live liquidity, commission treatment or slippage.
Our current assessment
IC Markets remains a strong candidate for non-US forex and CFD traders who prioritize raw pricing, MT4/MT5/cTrader support and scalping-friendly execution. It is not the right tool for US traders, long-term investors or users who need rich research more than low execution cost.