IC Markets review
IC Markets is a favourite of scalpers and EA traders for raw pricing and cTrader. African traders are served by its Seychelles entity, with no local licence, no African-currency accounts and no local payment methods.
#7 of 10
Score breakdown
Calculated automatically from the facts on this page. How we score.
Pros and cons
What we like
- Very low raw costs
- cTrader & TradingView
- Fast same-day processing
- 2,200+ instruments
Watch out for
- No African licence
- No ZAR/KES/NGN accounts
- No local payment methods
Licences — verify them yourself
| Regulator | Entity | Licence | |
|---|---|---|---|
| FSA Seychelles | Raw Trading Ltd (serves Africa) | SD018 | Verify on register ↗ |
| ASIC Australia | International Capital Markets Pty Ltd | See register | Verify on register ↗ |
| CySEC Cyprus | IC Markets (EU) Ltd | See register | Verify on register ↗ |
Search the entity name or licence number on the regulator's own site. If they don't match exactly, don't deposit.
Accounts and costs
| Account | Min deposit | EUR/USD spread | Commission |
|---|---|---|---|
| Standard | $0 | From 0.8 pips | None |
| Raw Spread | $0 | From 0.0 pips | $3.50/side MT · $3/side cTrader |
| Raw Pro | $100 | From 0.0 pips | Per lot |
| Raw Pro+ | $5,000 | From 0.0 pips | Per lot |
Standard, Raw Spread, Raw Pro and Raw Pro+ accounts on MT4, MT5, cTrader and TradingView.
Deposits and withdrawals
- Payment methods
- Visa / Mastercard · PayPal · Skrill · Neteller · Bank wire · FasaPay
- Withdrawals
- Processed same day
- Deposit currencies
- USD, EUR, GBP, + more
- African-currency accounts
- None
Platforms and markets
- Platforms
- MT4, MT5, cTrader, TradingView, WebTrader
- Execution
- Raw ECN-style pricing
- Instruments
- 2,200+ — FX, indices, commodities, stocks, bonds, crypto
- Currency pairs
- 60+ currency pairs
- Copy trading
- Yes
- Islamic accounts
- Yes
Support
24/7 · chat, email, phone
FAQ
Is IC Markets regulated in South Africa?
No. IC Markets has no FSCA licence, so South Africans are served by an offshore entity with weaker protection.
Is IC Markets regulated in Kenya?
No. IC Markets is not on the CMA's list of licensed online forex brokers.
Is IC Markets regulated in Nigeria?
No broker is licensed for online forex by SEC Nigeria yet. The SEC published draft rules in September 2026; until they take effect, Nigerians trade with offshore entities.
What is the minimum deposit at IC Markets?
$0 Standard/Raw · $100 Raw Pro. Payment methods can set their own minimums.
Can I deposit with M-Pesa?
Not that we could confirm. Supported methods: Visa / Mastercard, PayPal, Skrill, Neteller, Bank wire, FasaPay.
Which platforms does IC Markets offer?
MT4, MT5, cTrader, TradingView, WebTrader.
How is the 6.4/10 score calculated?
From five weighted factors — regulation 30%, costs 20%, funding in Africa 20%, platforms 15%, support 15% — applied to the facts on this page. See "How we score" on our About page.
Sources: SA Shares ↗ · Last checked Oct 2026