OFFSHORE · FSA-SCRBI ALERT LIST#28 of 66 international brokers

IC Markets review: the verdict.

Listed on the Reserve Bank of India Alert ListThe RBI lists IC Markets as not authorised to deal in forex or run a forex trading platform for Indian residents. Indian residents trading forex on unauthorised platforms can face action under FEMA. Source: RBI Alert List (RBI press release 2025-2026/1530, 19 Nov 2025; checked 24 Oct 2026).

Verdict score

7.3 / 10

Launch formula: 60% hard data, 40% outside ratings. Verified reviews from our traders replace outside ratings as they come in.

Regulation3.0

Best licence: Offshore

Trading cost8.5

$8.00 per lot

Accessibility10.0

Min deposit $0

Platforms & payments6.8

4 platforms · 0 payment methods

Outside ratings9.6

Trustpilot 4.8 from 57,198

IC Markets vs top-rated peersPER YEAR

I trade standard lots of EUR/USD a month.

Trive$720

GO Markets$1,200

FP Markets$1,440

Zero Markets$1,440

Vantage$1,440

IC Markets$1,920

Cheapest vs most expensive here, per year$1,200

Regulation

Who licenses IC Markets.

Licences as IC Markets lists them. A tick means we found the entity on the regulator's own register.

Regulator	Tier	Entity	Licence no.	On register
FSA-SC	OFFSHORE	Raw Trading Ltd (t/a IC, IC Markets Global)	SD018	Not yet checked

Accounts

Published EUR/USD costs.

Account	Spread	Commission	Cost / lot
Raw Spread (MetaTrader) average	0.1 pip	$7	$8.00
Raw Spread (cTrader) from	0 pip	—	—
Standard from	0.8 pip	$0	$8.00

Cost per standard lot = spread in pips × $10 + round-turn commission. Brokers publish “typical”, “average” or “from” spreads; “from” figures flatter the broker.

Key facts

The fine print.

Website

www.ic.com

Founded

Not published

Headquarters

Not published

Minimum deposit

Max leverage

1:5000

EU/UK leverage cap

—

Platforms

MT4, MT5, cTrader, TradingView

Deposits & withdrawals

Not published

Islamic (swap-free) account

Yes

Copy trading

Yes

Withdrawal fees

Not published

Inactivity fee

Not published

Restricted countries

Not offered to residents of the United States, Canada, Iran and North Korea (DPRK), or where contrary to local law.

RBI Alert List (India)

LISTED as "IC Markets" · list of 19 Nov 2025 · checked 24 Oct 2026

Verified reviews

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Verified reviews open soon. Reviews backed by a statement, a read-only MT4/MT5 login or a withdrawal receipt count up to 3× more, and every verified review enters the weekly 100 USDT draw.

Outside rating used for now: Trustpilot 4.8 from 57,198 reviews.

Compare IC Markets

Visit IC Markets

Sources · data as of 2026-10-24

website: www.ic.com/en/trading-accounts/overview
accounts: www.ic.com/en/trading-accounts/overview
platforms: www.ic.com/en/trading-accounts/overview
regulators: www.ic.com/en/about-us
trustpilot: www.trustpilot.com/review/icmarkets.com
copy trading: www.ic.com/en/trading-accounts/overview
max leverage: www.ic.com/en/trading-accounts/overview
islamic account: www.ic.com/en/trading-accounts/islamic-account
min deposit usd: www.ic.com/en/trading-accounts/overview
restricted countries note: www.ic.com/en/trading-accounts/overview

Research notes: icmarkets.com/global now redirects to ic.com (global offshore site, Raw Trading Ltd, Seychelles). Max leverage 1:5000 on MetaTrader Raw/Standard as shown on ic.com accounts page (cTrader 1:1000); leverage stated as dynamic - double-check this figure before publishing. Min deposit shown as $0. cTrader commission stated as $3.00 per USD 100k; side basis not stated - so commission_rt_usd left null (would be $6 RT if per side). Copy trading via cTrader Copy, IC Social, ZuluTrade, Signal Start. Funding pages returned client errors - payment methods/fees null. Other IC Markets group entities (ASIC, CySEC etc.) are not shown on the ic.com global site and were not recorded. Founding year not stated on the site.

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