IC Markets Review: Raw Spread vs Standard, cTrader, Entities and Rebates

IC Markets is built around raw pricing: every main account has a $0 minimum deposit, the Raw Spread accounts start from 0.0 pips, and the MetaTrader version charges $3.50 per lot per side. It also offers cTrader and TradingView, which XM and Vantage do not. The global site is run by Raw Trading Ltd under an FSA Seychelles licence. No rating here, just the published terms and what they cost per lot.

IC Markets accounts at a glance

Source: IC Markets account overview and IC Markets EU account overview. Two newer Raw Pro accounts ($1.50 per side from $5,000) and Raw Pro+ ($1.00 per side from $100,000) are listed as early access, so we leave them out of the examples. The cTrader commission is set on the US dollar value traded, so on a pair whose base currency is worth more than $1 it comes to more than $3.00 per standard lot per side.

Cost per lot: Standard vs Raw Spread

IC Markets publishes "from" spreads, which are best-case figures, not averages. At those best cases on EUR/USD, where a pip is $10 per lot:

• Standard: 0.8 pips x $10 = $8.00 per lot.
• Raw Spread (MetaTrader): 0.0 pips plus commission, $0.00 + $7.00 = $7.00 per lot.
• For 20 lots: Standard = $8.00 x 20 = $160.00; Raw Spread = $7.00 x 20 = $140.00.

The rule that holds at any spread: $7.00 of commission equals 0.7 pips ($7.00 / $10 = 0.7), so the Raw account is cheaper whenever the Standard spread is more than 0.7 pips wider than the Raw spread at the same moment. Check both in a demo during the hours you trade.

Swaps are charged separately; see the contract specifications in your platform. For a deposit-focused view, read IC Markets Minimum Deposit.

IC Markets regulation by entity

Sources: IC Markets account overview, IC Markets EU account overview. "IC" and "IC Markets Global" are trading names of Raw Trading Ltd, and icmarkets.com now redirects to ic.com. The 1:5000 leverage is on the global (Seychelles) site; regulated entities such as the EU one apply lower limits.

Who cannot open an account

IC Markets Global says it does not serve residents of certain countries such as the United States, Canada, Iran and North Korea, or anywhere its services would break local law. Users must be 18 or the legal age where they live. Source: IC Markets account overview.

IC Markets rebates

We did not find an official IC Markets page that publishes IB rebate rates or a partner payout schedule, so we state no per-lot figure. We also do not have an IC Markets partner link yet: the IC Markets link on our site goes to the official homepage, and accounts opened through it are not linked to us. When that changes, this section and our rebate program page will say so.

Pros, cons and gaps

• Pros: $0 minimum on all three main accounts, cTrader and TradingView, a published $3.50 per side MetaTrader commission, and ASIC and CySEC entities.
• Cons: the default global entity is offshore, leverage up to 1:5000 is extreme, and partner terms are not public.
• Gaps: real average spreads, execution and withdrawals are not in the published terms. Open a demo or a small live account to see them.

Risk warning

CFDs and leveraged forex are complex and can cause rapid losses. Raw pricing lowers cost per trade but does not lower risk. Confirm current conditions on IC Markets' official site for your entity, and read our risk disclaimer. Not financial advice.