IC Markets Review 2026

The short answer: IC Markets is one of the cheapest forex brokers you'll find, especially if you're trading in meaningful volume. But the cost structure has some nuance that beginners should understand before jumping in.

Two Very Different Pricing Models

IC Markets offers two main pricing approaches, and choosing the wrong one for your trading style can quietly erode your returns.

• Standard Account: No commission, but spreads start from 0.6 pips on EUR/USD. Think of this like a restaurant with no cover charge but slightly higher menu prices. The cost is baked into the spread.
• Raw Spread Account: Spreads from 0.0 pips, but you pay a commission of $6 per round lot on cTrader (or $7 on MT4/MT5). This is like paying a cover charge for cheaper food. Better value if you trade frequently in large sizes.

What Does This Mean for You?

If you're placing a handful of trades per week with modest position sizes, the Standard account's spread-only model is simpler and often cheaper overall. If you're scalping, running automated strategies, or trading several lots daily, the Raw Spread account's near-zero spreads will likely save you real money despite the commission.

To put it in concrete terms: on a 1-lot EUR/USD trade with a 0.0-pip spread and $7 commission, your entry cost is $7. On the Standard account with a 0.6-pip spread, that same trade costs roughly $6 in spread. The difference is small per trade but compounds significantly at high frequency.

No Nasty Surprises on Deposits

IC Markets charges no deposit fees and no inactivity fees, which is genuinely refreshing. Some brokers quietly charge $10-$15 per month if you don't trade regularly. IC Markets doesn't do that. Withdrawal fees are generally free, though third-party bank charges may apply on international wire transfers.

IC Markets has a genuinely transparent fee structure, but there are a few areas where costs can catch traders off guard, especially those new to ECN-style brokers.

Overnight Swap Fees (Rollover Costs)

Any position you hold open past the daily rollover time (typically 5pm New York time) will incur a swap fee. These are interest-based charges for holding leveraged positions overnight, and they vary by instrument and direction. On some currency pairs, you can actually earn a positive swap, but on most retail trades you'll pay. IC Markets publishes its swap rates on its website, and you can check them directly in MT4/MT5 or cTrader before entering a trade. If you're a longer-term swing trader holding positions for days or weeks, these costs deserve careful attention.

Third-Party Withdrawal Costs

IC Markets itself doesn't charge withdrawal fees, but international bank wire transfers often carry charges from the receiving or intermediary bank. E-wallet withdrawals via Skrill or Neteller are generally faster and cheaper. If you're outside Australia or the EU, factor in potential currency conversion costs if your account currency differs from your local currency.

Commission Clarity on Raw Accounts

The $6 or $7 per round lot commission on Raw accounts is charged per side in some interpretations, so always confirm whether the published figure is per side or round trip. On IC Markets, the $6/$7 figure is typically quoted as the full round-trip cost, but verifying this in your account settings is a good habit.

One genuinely positive note: there are no hidden platform fees, no data fees for standard market access, and no account maintenance charges. What you see in the fee schedule is largely what you pay.

IC Markets delivers exceptional value for a specific type of trader. Understanding whether you fit that profile will save you time and frustration.

IC Markets Works Best For:

• Intermediate to advanced forex traders who understand spreads, commissions, and execution models and want institutional-grade conditions at retail account sizes
• Scalpers and high-frequency traders who benefit most from 0.0-pip spreads and fast ECN execution, where even half a pip saved per trade adds up significantly
• Algorithmic traders running Expert Advisors (EAs) on MT4/MT5 or automated bots on cTrader, especially those who qualify for free VPS hosting
• Copy trading followers who want access to ZuluTrade or Myfxbook AutoTrade with transparent signal provider statistics

If You're a Complete Beginner, Consider This:

IC Markets' platform depth is genuinely impressive, but it can feel overwhelming if you're still learning what a pip is. Brokers like Libertex offer a simpler entry point with a $100 minimum deposit, a more intuitive interface, and a gentler learning curve. There's no shame in starting somewhere beginner-friendly and migrating to IC Markets once you've built your confidence and strategy. The two serve different stages of the trading journey, and knowing which stage you're at is the most valuable piece of self-knowledge you can have right now.