IC Markets rebate: four ways it differs from the rest

IC Markets is an ECN broker founded in Sydney in 2007, known for spreads from 0.0 pips and matching
servers in the Equinix NY4 data centre. But its rebate mechanism differs from the other three leading
brokers in four ways — and all four affect the figure you actually receive.

1. The rebate goes to a wallet, not the trading account

This is the largest difference. With Exness, Vantage and HFM the rebate is credited straight to the
trading account balance and can be used as margin immediately. With IC Markets it goes to your
Backcom VN wallet, and you withdraw from there to your bank.

The practical consequence: one extra currency conversion on the way out, usually
0.5–1.5%, so it pays to batch
withdrawals rather than take them piecemeal. The full comparison across all eight brokers is in
when and where the rebate arrives.

2. The gap between account types is large

The Raw Spread account pays the highest rebate. Raw Pro and
Raw Pro + pay considerably less.

That is a general rule, but it is more pronounced here: the tightest-spread account type usually
charges higher commission, and the IB commission comes out of that. Choosing the wrong account type
can cost you most of the rebate — see
how to compare costs across account types.

3. The rebate covers crypto, indices and futures too

A wider scope than most brokers, which limit rebates to forex and precious metals.

But there is a catch: crypto and indices are counted per contract, not per standard
lot. The effective rebate therefore depends on each symbol’s contract size, and does not convert
directly into a dollars-per-lot figure the way currency pairs do. Before calculating expectancy, open
the full table on the IC Markets page.

4. No direct local-currency deposits or withdrawals

Unlike some brokers with a domestic transfer gateway, IC Markets does not support Vietnamese dong
directly. That adds a conversion layer in both directions, and it belongs in your
total cost rather than being ignored.

Licences

Three licences in three jurisdictions with very different standards of supervision. What matters is
not how many licences a broker holds but which legal entity your account is with —
because that is where you would have to complain in a dispute. The
five verification steps show how to check that
properly, and how strictly FCA, ASIC and CySEC
supervise compares the three regulators.

What IC Markets is genuinely good at

• Spreads from 0.0 pips on Raw Spread, with real ECN liquidity.
• Full support for MT4, MT5, cTrader and TradingView — more than most brokers.
• Scalping, hedging and unrestricted EA use are all permitted. That matters to
  high-frequency traders, because many brokers restrict
  them.
• A 0.01-lot minimum, workable with a small account.

How to receive the rebate

1. Open the account through the Backcom VN link — partner code 95095.
2. Complete identity verification with an ID card,
   driving licence or passport. Do it when you open the account, not when you need to withdraw.
3. Deposit and trade normally — nothing extra is required for the rebate to be counted.
4. The rebate is credited to the Backcom VN wallet on the cycle published on the
   broker page.

If you already have an IC Markets account, you do not necessarily need a new one — an
IB transfer may be possible, depending on the policy in
force at the time.

Is IC Markets right for you

Yes if you trade frequently on a Raw Spread account, run EAs, or need cTrader. Less so if you hold
for longer and would rather have the rebate credited straight to the trading account — in which case a
broker that pays directly is tidier.

To compare it with the others on the same basis, see the
rebate comparison by product, and do not forget that
the highest rebate is not the cheapest
broker.

This article is for information only and is not investment advice. Conditions and fee levels are published by the brokers and can change at any time — check with the broker you actually use. Leveraged forex and CFD trading carries a high level of risk and can cost you your entire deposit.