IC Markets review 2026: is IC Markets trustworthy?

In this article7

1. IC Markets review: key factsShow subsections
2. is IC Markets regulated? Three entities, three levels of protectionShow subsections
3. IC Markets licence: a three-minute check
4. IC Markets rebate and costs by account typeShow subsections
5. Who IC Markets may suit, and who may find it less suitable
6. IC Markets review: frequently asked questionsShow subsections
7. Conclusion

This IC Markets review separates trading conditions from the legal protections attached to your account. Tight spreads can be useful, but the company handling your account may differ from the entity holding the licence you recognise. Asking “is IC Markets regulated” therefore starts with the client agreement, not the brand name. Here we examine the entities, trading costs and rebates so you can check what applies to you before depositing money. The aim is to give you a practical basis for comparing an account’s terms with your own trading requirements.

Last updated: 29/09/2026.

• Key facts
• Three entities, three levels of protection
• Check the licence yourself
• Costs and rebates by account type
• Which traders might it suit?
• Frequently asked questions
• Conclusion

IC Markets review: key facts

Founded 2007, headquartered in Sydney, Australia, IC Markets operates an ECN model aimed at traders who pay close attention to spreads and execution speed. That description is a starting point for assessing the service. It does not establish the conditions of every account or instrument. Check the specifications for the account, product and legal entity you intend to use, rather than assuming that a general description applies equally across the group.

Item	Key information
Founded	2007
Headquarters	Sydney, Australia
Model	ECN
Platforms	MT4, MT5, cTrader, TradingView
Minimum trade size	0.01 lot
Entity serving most international clients, including Vietnam	Raw Trading Ltd

The platform selection is broad, but confirm which platforms are available with your intended account type. If you rely on particular indicators or automated trading software, check compatibility before committing funds. The minimum trade size of 0.01 lot allows smaller position increments. It does not make every small trade low risk: the instrument, position size and potential price movement still matter when deciding how much capital to expose.

What the ECN model means for your costs

A key attraction of ECN trading is tight spreads, although commission may be charged alongside them. With a Raw Spread account, you need to examine both components. A small spread displayed on the platform does not show the complete cost of opening and closing a position. Read the applicable commission schedule and establish how the charge applies to your intended trade before making a comparison.

A useful IC Markets review also considers spreads during the hours you actually trade. During volatile periods, spreads and execution prices can differ from those seen in quieter conditions. Observe the market on a demo account, then check conditions with a small live position before increasing your capital. Keep the comparison relevant to your strategy; favourable observations from another trading session may tell you little about your own costs.

is IC Markets regulated? Three entities, three levels of protection

The Australian authorisation, AFSL 335692, is frequently mentioned, but it belongs to the Australian entity. When checking an IC Markets licence, match the registered company name to its regulator. Sharing a brand does not mean every client signs the same agreement or receives the same protections. The distinction matters because the entity named in your agreement is the party whose obligations you need to understand.

Entity	Regulator	Number	Clients served
International Capital Markets Pty Ltd	ASIC (Australia)	AFSL 335692	Australian clients
IC Markets (EU) Ltd	CySEC (Cyprus)	Licence 362/18; company number HE 356877	European clients
Raw Trading Ltd	FSA Seychelles	Licence SD018; company number 8419879-2	Most international clients, including Vietnam

Vietnamese clients usually contract with Raw Trading Ltd under FSA Seychelles licence SD018 — not ASIC. Read the legal entity’s name in the client agreement during registration. An Australian headquarters address does not establish which regulator would handle a complaint about your account. If the agreement is unclear, ask support to identify the contracting company and the applicable complaints procedure in writing.

To answer “is IC Markets regulated”, distinguish the brand’s operating history from the responsibilities of your contractual counterparty. The Australian IC Markets licence does not automatically extend to international accounts. You can use these criteria for choosing a reputable forex broker as a Vietnamese trader to apply the same checks elsewhere. Comparing entities consistently is more useful than comparing the number of regulatory logos each brand displays.

What a Seychelles licence does and does not mean

Many large brokers use offshore entities to serve international clients. That arrangement is not automatically a negative finding. However, supervision, complaint channels and your rights in a dispute depend on the entity involved. Do not assume that protections available to Australian or European clients also apply to you. Read the relevant terms and identify where a complaint would go if the broker’s internal process did not resolve it.

A licence does not guarantee profitable trading or immediate processing of every withdrawal request. As part of your IC Markets review, read the provisions covering client money, identity verification and complaint handling. These explain practical obligations that a brand overview cannot settle. This discussion of offshore brokers and their risks outlines the points to compare when deciding whether the contractual arrangements meet your needs.

The answer to “is IC Markets regulated” therefore needs context: the brand has an operating history and licensed entities, but your protection depends on your particular agreement. Establishing that a licence exists is one check. Establishing that it belongs to the company responsible for your account is another, equally necessary check.

IC Markets licence: a three-minute check

Check the registered business yourself rather than relying solely on regulatory logos in promotional material. Your IC Markets review will have a firmer basis if you retain the register results alongside the agreement you accepted. That record also makes it easier to revisit the details later without relying on memory or a general description of the broker.

1. Identify your contractual counterparty. Open the client agreement during registration or in your account area. Record the legal entity, licence number and regulator. For a Vietnamese account, check whether the company named is Raw Trading Ltd. Use the agreement for your actual account, rather than an agreement intended for clients in another region.
2. Search the relevant regulator’s register directly. If your agreement names Raw Trading Ltd, find the official FSA Seychelles website and search for the company and SD018. For an IC Markets licence held by another entity, use the corresponding regulator and number in the table above. Keep the company name and authorisation together throughout the check.
3. Match the result to your account. Check the published name, licence status and contact details. Distinguish the company registration number from the licence number: they identify different things. If anything does not match, ask support for a written explanation before depositing money, and retain that explanation with the account documents.

You can follow this guide to checking a forex broker’s licence and read about the FCA, ASIC and CySEC regulators. The purpose is to understand the scope of supervision, including which company it covers. Recognising a familiar regulator’s name is useful only when the authorisation is relevant to your account.

After checking the IC Markets licence, save the date of your search and a copy of the terms. When asking “is IC Markets regulated”, these records provide more concrete evidence than the number of licences advertised. They also give you a reference point if you later need to clarify which conditions you accepted.

IC Markets rebate and costs by account type

Rebates reduce part of your trading costs, but they do not replace a comparison of spreads and commission. When comparing Standard with a Raw Spread account, use the same instrument, trade size and trading hours. Otherwise, differences in the underlying conditions can distort the result. The amount returned is meaningful only when you also know the cost incurred to generate it.

Account type	Forex & metals rebate	Notes
Standard	4 USD/lot	Applies to gold XAUUSD, silver XAGUSD and the major FX pairs
Raw Spread	2 USD/lot	Compare spreads and commission before choosing
Raw Pro	0.85 USD/lot	Check account conditions and eligible instruments
Raw Pro +	0.55 USD/lot	Check account conditions and eligible instruments

Standard offers the highest rebate in the table, at 4 USD/lot, because its spreads are wider. A Raw Spread account pays 2 USD/lot because its underlying costs are already lower. Choosing solely by the amount returned reverses the comparison you need to make. First establish what you pay, then calculate how much remains after the eligible rebate.

This is a central consideration in any IC Markets review of trading costs. A higher rebate does not, by itself, demonstrate a lower net cost. Equally, a smaller rebate does not establish that an account offers poorer value if its starting spread is narrower. Compare the complete transaction on a consistent basis before drawing a conclusion.

To compare the conditions, see the IC Markets rebate page and this explanation of how rebates at IC Markets differ. When researching which forex brokers pay the highest rebates, place each payment alongside the total cost of the same trade. A rebate ranking alone cannot settle which account will cost you less.

Cryptocurrency rebates

For BTCUSD and ETHUSD, the rebate is 1 USD per contract. A contract is a different unit from the lot used in the forex and metals table. Read the contract specification on your platform before calculating the expected payment. Do not carry a per-lot rate across to cryptocurrency trading or assume the units are interchangeable when comparing eligible volumes.

Net cost = spread + commission − rebate: a practical example

Suppose you want to compare an XAUUSD trade on Standard with the same trade size on a Raw Spread account. First convert the spread into a monetary cost using the instrument’s contract specification. Then add the applicable commission and subtract the rebate for the eligible trade. Keep the instrument and volume identical so that the comparison measures account costs rather than differences between positions.

In this example, Standard uses a rebate of 4 USD/lot and Raw Spread uses 2 USD/lot. If Standard’s combined spread and commission exceed the additional rebate, Standard remains more expensive. A monetary result requires the actual spread and commission schedule. The rebate table alone cannot supply the missing costs, so it is not enough to produce a reliable total.

This formula covers the components being compared. If you hold a position overnight, check the overnight financing charges as well; when assessing execution, consider slippage. An IC Markets rebate does not remove those costs or offset every trading loss. Keep them visible in your own records so that the amount returned does not obscure the overall result.

Affiliate disclosure: Backcom VN is an introducing partner of IC Markets and receives commission from referrals. The Backcom VN partner code is 95095. The IC Markets rebate is calculated on trading volume, not profit. This relationship creates a commercial benefit for Backcom VN. You should independently compare the conditions before choosing an account or arranging a partner link.

Who IC Markets may suit, and who may find it less suitable

IC Markets may merit consideration by scalpers, traders using expert advisers and those seeking deep liquidity and tight spreads. These traders are particularly sensitive to costs on each transaction. Suitability still needs to be assessed against the strategy actually being used, especially during volatile trading hours. A general account description cannot establish how your particular approach will perform under those conditions.

Frequent traders could include a Raw Spread account in their comparisons. Record spreads, commission and execution prices during the sessions you normally trade. Look at the combined cost rather than an isolated favourable spread. A successful trial does not establish that conditions will remain identical across every market environment, so retain realistic expectations when deciding whether to increase your exposure.

The broker is less suitable if your sole objective is to obtain the highest rebate available anywhere. The rates listed here do not establish that ranking. Traders who require a particular regulatory framework must also examine the international agreement carefully, rather than relying on the Australian IC Markets licence. Decide whether the actual contractual protections satisfy your requirements before comparing the potential savings.

For an IC Markets review tailored to your needs, prioritise legal protections, the practical operation of your strategy and then total costs. Asking “is IC Markets regulated” addresses only part of the decision. You also need to establish whether the relevant entity, platform and account conditions fit the way you intend to trade.

IC Markets review: frequently asked questions

Which entity will I contract with?

Vietnamese clients usually contract with Raw Trading Ltd, regulated by FSA Seychelles under SD018. The definitive answer is in your own account agreement, so check the company name before accepting it. When verifying an IC Markets licence, do not substitute another entity’s authorisation for the company named in your contract, even though both operate under the same brand.

When and where are rebates paid?

IC Markets rebate payments are made every Monday, automatically, into the Backcom VN wallet. Compare your trading history with the amount recorded in the wallet. If there is a discrepancy, provide your account identifier and the relevant trade details through the support channel so they can be checked. Do not share your password or authentication codes as part of that enquiry.

Why does Standard pay more than Raw Spread?

Standard has wider spreads and therefore pays 4 USD/lot. A Raw Spread account has lower underlying costs and pays 2 USD/lot. Receiving more money back does not mean paying less overall. Compare spread plus commission, then subtract the rebate for the same instrument and volume. This keeps the focus on the remaining cost rather than the size of the payment.

Are expert advisers and scalping restricted?

These trading approaches are reasons to consider IC Markets, but that does not mean every strategy is accepted without conditions. Read the trading terms, check whether your chosen platform supports your expert adviser and ask support about the specific strategy you intend to run. Retain the written response before committing substantial capital, particularly if your approach depends on particular execution conditions.

Can I link an existing account to Backcom VN?

Request a check of whether your existing account’s partner association can be changed. Do not assume every account can transfer or that earlier trades will qualify for rebates. Give support the necessary account information, quote partner code 95095 and confirm when eligible trading activity will start being recorded. Establishing that date helps you reconcile subsequent payments with the correct trades.

Conclusion

The main finding of this IC Markets review is that your contracting entity determines the scope of your protection. For most Vietnamese clients, that is usually Raw Trading Ltd in Seychelles. Answering “is IC Markets regulated” therefore requires reading your agreement and checking the relevant authorisation yourself. The brand’s wider regulatory presence cannot replace those account-specific checks.

For costs, choose according to the net total rather than the largest payment back. You can compare the IC Markets rebate conditions, confirm the partner association and test trading at an appropriate scale before increasing your capital. Keep your assessment grounded in the costs and conditions that apply to your own account.

Trading forex and leveraged products involves the risk of losing capital. Spreads, slippage and overnight holding costs can affect results. Rebates do not guarantee profit. Use only money you can afford to lose, and check the conditions of your account yourself before trading.