Fast execution, raw spreads and deep liquidity. IC Markets is one of the most-used brokers by serious forex traders. Here's what it's actually like to trade with them.
IC Markets is an Australian-regulated ECN broker founded in 2007, primarily known for offering raw interbank spreads, fast execution, and deep liquidity. It's consistently ranked among the top brokers for forex scalpers, algorithmic traders, and experienced retail traders who care about execution quality above all else.
Unlike brokers that act as market makers, IC Markets routes orders directly to liquidity providers — which means spreads that can start from 0.0 pips on major pairs, and execution that doesn't have artificial delays built in. That difference matters more as your trading volume increases.
This is the core reason experienced traders choose IC Markets. The Raw Spread account gives you direct interbank pricing — spreads that average 0.0–0.1 pips on EUR/USD during liquid sessions, with a small flat commission instead. For anyone trading volume, this is meaningfully cheaper than standard spread brokers.
Execution speed is genuinely fast. Orders are processed in under 40ms on average, routed through data centres in New York, London and Tokyo depending on the session. For scalpers or anyone trading around news events, this matters — delayed execution at a critical moment is the difference between a clean fill and significant slippage.
Raw account spreads start at 0.0 pips with a $3.50 commission per lot (per side). Standard account has wider spreads (~0.6 pips on EUR/USD) but no commission. For high-volume traders, Raw works out cheaper. For lower-volume casual trading, Standard is simpler.
IC Markets is regulated by ASIC (Australian Securities and Investments Commission) — one of the more respected regulatory bodies globally. They also hold a CySEC licence covering European clients. Client funds are held in segregated accounts, separate from company funds.
In nearly 20 years of operation, there are no significant complaints about withdrawal issues or fund safety. Their reputation in the trading community is solid — this isn't a firm that traders worry about from a trust perspective.
IC Markets supports all three major retail trading platforms — MetaTrader 4, MetaTrader 5, and cTrader. For most forex traders already comfortable with MT4 or MT5, the transition is seamless. cTrader is worth exploring if you want a cleaner interface and more advanced order types.
These two brokers serve different stages of a trader's journey. The honest answer is: IC Markets is for traders who know what they're doing and want the best possible execution. XM is for traders who are still learning and value simplicity over raw performance.
IC Markets deserves its reputation. Fast execution, genuinely low spreads, solid regulation and 18 years of operation without major issues. If you're past the learning stage and want a broker that doesn't cost you on every trade, IC Markets is a strong choice.
Start with the Raw Spread account on MT4 or MT5. The commission is transparent and the spreads are worth it for anyone trading more than a handful of times per week. If you're trading a prop firm account alongside a personal account, IC Markets conditions are closely aligned to what most prop firms offer.
Also read: XM Review · How to Choose a Prop Firm · FTMO vs FundingPips · Position Size Calculator