IC Markets
IC Markets is a global retail forex and CFD broker serving algorithmic traders and scalpers via MT4/5, cTrader, and TradingView, monetizing spread markups and commissions on 2,850+ instruments across seven asset classes with Equinix-colocated low-latency execution.
- Company typePrivate
- Founded2007
- HeadquartersSydney, Canada
- Headcount51–100
- GTM typeB2C
- OfferingServices
What IC Markets does
IC Markets is a global retail forex and CFD broker founded in 2007 and operated through Raw Trading Ltd, registered in Seychelles and regulated by the Seychelles FSA. The company serves a long tail of retail traders, high-volume scalpers, and algorithmic users, offering access to more than 2,850 tradable instruments across forex, commodities, indices, stocks, bonds, cryptocurrencies, and futures CFDs through MetaTrader 4/5, cTrader, TradingView, WebTrader, and mobile apps. Underlying technology is built around Equinix NY4 (New York) and LD5 (London) colocation, with average execution under 40ms and liquidity aggregated from 50+ bank and dark pool venues, complemented by proprietary tools such as 20 advanced MT4 utilities, IC Insights research (powered by TipRanks), IC Social, and co-located VPS services.
The firm monetizes primarily through transaction-based revenue: spread markups (from 0.0 pips on Raw Spread accounts), commissions of $1.00-$3.50 per lot per side depending on account tier, and overnight swap charges, with a swap-free Islamic account variant also offered. Account onboarding is fully self-serve with a $200 minimum deposit, leverage up to 1:5000, and micro-lot trading from 0.01 lots. Distribution is direct-to-consumer via icmarkets.com and platform app stores, supplemented by an introducing broker, affiliate, and white-label partner program. The company invests in brand through sports sponsorships (Haas F1 Team, Guillermo Ochoa, Alexei Popyrin) and produces educational content including IC Your Trade with Bloomberg Media Studios, while reporting geographic restrictions covering the US, Canada, New Zealand, Iran, and North Korea.
IC Markets firmographics
Firmographics- Name
- IC Markets
- Legal name
- Raw Trading Ltd
- Website
- https://icmarkets.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- IC Markets is a global retail forex and CFD broker serving algorithmic traders and scalpers via MT4/5, cTrader, and TradingView, monetizing spread markups and commissions on 2,850+ instruments across seven asset classes with Equinix-colocated low-latency execution.
- Ownership category
- akta.pro rank
IC Markets industry classification
Industry- Product category
- Retail Forex and CFD Brokerage
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Commodity Contracts Intermediation (523160)
- SIC
- Commodity Contracts Brokers & Dealers (6221), Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Algorithmic Trading & Execution Platforms (FSAFANAN)
- akta.pro secondary industries
- Institutional Spot Exchanges & Broker-Dealers (FSADAAAC), Margin Trading & Collateralized Borrowing (Exchange-Operated) (FSADAAAL), Brokerages & On/Off-Ramps (fiat rails, instant buy/sell) (FSAPADAG), Market Making & Liquidity Provision (FSADAJAC)
Keywords
Where IC Markets is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
IC Markets business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Infrastructure, Marketing or Sales, Personnel, Operations
Revenue model
- Spread Markup: Revenue generated from the bid-ask spread on all tradable instruments including forex, commodities, indices, stocks, bonds, cryptocurrencies, and futures CFDs. Raw spread accounts offer tight spreads from 0.0 pips with commission charges.
- Commission per Lot: Commission charges on raw spread accounts ranging from $1.00 to $3.50 per lot per side depending on account type (Raw Pro+, Raw Pro, Raw Spread). Standard accounts charge no commission but have wider spreads.
- Overnight Swap Charges: Swap rates charged on positions held overnight, particularly relevant for forex pairs and commodities. Swap-free account option available for clients who cannot receive/charge swaps due to religious reasons.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Raw Spread Account - Commission-based with 0.0 pip spreads |
| Transaction based/ take rate | Pay-as-you-go | Standard Account - Spread-only pricing |
| Transaction based/ take rate | Pay-as-you-go | Swap Free Account - For Islamic/Sharia-compliant trading |
| Subscription | Monthly | VPS - Standard Tier |
| Subscription | Monthly | VPS - Pro Tier |
| Subscription | Monthly | VPS - Premium Tier |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels10 records
IC Markets product offering
Product offeringCore offering
IC Markets operates as a True ECN forex and CFD broker, providing retail and institutional clients with direct market access to trade forex pairs, commodities, indices, stocks, bonds, cryptocurrencies, and futures CFDs. The company offers multiple trading platforms (MetaTrader 4/5, cTrader, TradingView, WebTrader) with raw spreads from 0.0 pips, sub-40ms execution via Equinix co-location, leverage up to 1:5000, and no restrictions on scalping, hedging, or Expert Advisors. Revenue is generated primarily through spread markups, per-lot commissions on Raw Spread accounts, and overnight swap charges.
Differentiator
Problem solved
Functional benefit
Brands
- IC Insights: A comprehensive investment research and analysis platform powered by TipRanks, providing analyst ratings, price targets, and news sentiment for stocks, cryptocurrencies, and selected Forex CFDs.
- IC Social
- IC VPS
Products and services
- Forex CFDs
Quantifiable outcome
- Average execution speed under 40ms
- +3 more outcomes
Companies that use IC Markets
Customer profileSegments3 records
Ideal customer profiles3 records
IC Markets technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration13 records
Feature8 records
IC Markets partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- Guillermo OchoacoreStrategic partnership with Mexican football goalkeeper Guillermo Ochoa to accelerate growth across Latin America with focus on Mexico. Ochoa is one of Mexico's most recognizable sporting figures, expected to anchor Mexico's goal in next global competition cycle. IC secured exclusive rights to Ochoa's name, image, and likeness for global marketing channels. Partnership includes broadcast, digital, and social ecosystem activation.
- Spotware SystemsminorParticipation in Spotware Talks panel series on YouTube focusing on broker risk management during market volatility. Inaugural panel on February 26 titled 'Gold gone wild: brokers' survival guide' featured IC Markets senior executives alongside ATFX discussing risk management during elevated market volatility.
- Alexei PopyrinminorPartnership with Australian tennis star Alexei Popyrin ahead of 2026 tennis season. Popyrin plans to participate in key tournaments including the Australian Open. Partnership emphasizes performance and continuous improvement.
- MoneyGram Haas F1 TeamcoreIC Markets became the Official FX Trading Partner of the MoneyGram Haas F1 Team in a multi-year agreement starting from the 2025 FIA Formula 1 World Championship season finale in Abu Dhabi. Represents IC's largest global motorsport collaboration and aligns with strategic growth plans through 2026. TGR (Toyota Gazoo Racing) Haas F1 Team partnership also featured in IC Your Trade Season 6 microdocs.
- Bloomberg Media StudioscoreCollaboration with Bloomberg Media Studios to produce IC Your Trade (ICYT) Season 6, a financial education series featuring discussions with renowned analysts, industry innovators, and economic thinkers on global markets and trading psychology. First episode aired November 26, 2025.
- TipRankscoreTipRanks powers IC Insights platform providing comprehensive investment research and analysis. TipRanks consolidates data from diverse sources to provide analyst ratings, price targets, and news sentiment for stocks, cryptocurrencies, and selected Forex CFDs.
- TradingViewcoreNative integration with TradingView platform enabling traders to access IC Markets execution directly from TradingView's charting and analysis tools.
- Peter Tardent (New Management Team)coreFormer BlackBull Markets executive Benjamin Boulter launched TabTrade in Saint Lucia. Not an IC Markets partnership.
Scale indicators12 records
Recent moves6 records
Expansion highlights6 records
IC Markets competitors and assessment
Company assessmentEmerging players
- eToro: Social-investing and multi-asset broker with a strong copy-trading and crypto offering. Comparable on the retail/algorithmic active-trader segment and on social-trading/community engagement (e.g., ZuluTrade, IC Social), but differentiated by asset ownership model and broader retail-investor base.
Direct peers
- Pepperstone: Australia-headquartered ECN forex and CFD broker with a near-identical product offering (MT4/MT5, cTrader, TradingView), similar raw-spread pricing model, and equivalent global retail/algorithmic client base. Pepperstone is IC Markets' closest head-to-head competitor in the Australian ECN segment.
- XM (Trading Point Holdings): Large global retail forex/CFD broker with strong APAC and emerging-market presence, multi-platform support (MT4/MT5), and similar product-led/digital onboarding motion. Comparable on client base, instrument coverage, and reliance on bonus/incentive-driven acquisition.
- Exness: Offshore-regulated global forex and CFD broker with very large monthly trading volumes and a strong algorithmic/scalper client base. Directly comparable to IC Markets on the ECN/raw-spread, retail-and-algo-focused model, particularly in emerging markets.
- OANDA: Global retail forex and CFD broker with a long operating history, multi-platform support (MT4, TradingView, OANDA Trade web), and institutional-tier execution infrastructure. Directly comparable to IC Markets on pricing model, instrument coverage and active trader focus.
- FXCM (now part of Jefferies Financial Group): Established retail forex and CFD broker offering MT4/MT5, Trading Station, and TradingView integration. Comparable in retail-active-trader focus, CFD product mix, and algorithmic/EA-friendly infrastructure.
- AvaTrade: Global retail forex and CFD broker with multi-jurisdictional regulation, MT4/MT5 support and broad instrument coverage. Comparable on retail target customer and CFD product mix, though typically positioned at less price-sensitive clients than IC Markets.
Broad incumbents
- Saxo Bank: Tier-1 Danish-regulated multi-asset broker offering forex, CFDs, stocks, ETFs, futures and bonds via the SaxoTraderGO/Pro platforms. Comparable on broad multi-asset CFD coverage, but serves a more affluent/ semi-professional client and operates under stricter Tier-1 regulation.
- Interactive Brokers: Tier-1 global multi-asset broker serving active traders and institutional clients with low-cost execution across forex, CFDs, options, futures, stocks and bonds. Comparable on execution quality, instrument breadth and active-trader client base, but with a much larger, publicly listed balance sheet.
- IG Group: Largest publicly listed retail CFD and spread-betting broker globally, offering thousands of CFD instruments across forex, indices, commodities, shares and crypto. Comparable in product breadth and target customer (active retail traders), but with Tier-1 multi-jurisdictional regulation and a much larger balance sheet.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
IC Markets social profiles
Digital presenceIC Markets financial estimates
Financial estimateRevenue estimate
Valuation estimate
IC Markets leadership team
Management profileNumber of profiles
Profiles1 record
IC Markets funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
IC Markets M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about IC Markets
What does IC Markets do?
IC Markets operates as a True ECN forex and CFD broker, providing retail and institutional clients with direct market access to trade forex pairs, commodities, indices, stocks, bonds, cryptocurrencies, and futures CFDs. The company offers multiple trading platforms (MetaTrader 4/5, cTrader, TradingView, WebTrader) with raw spreads from 0.0 pips, sub-40ms execution via Equinix co-location, leverage up to 1:5000, and no restrictions on scalping, hedging, or Expert Advisors. Revenue is generated primarily through spread markups, per-lot commissions on Raw Spread accounts, and overnight swap charges.
Is IC Markets a public or private company?
IC Markets is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was IC Markets founded?
IC Markets was founded in 2007. It employs 51 to 100 people.
Where is IC Markets based?
IC Markets is headquartered in Sydney, Canada, in the North America region.
How does IC Markets make money?
Three revenue lines are on record. Spread Markup is the primary driver. The others are commission per Lot and overnight Swap Charges.
Who are IC Markets's main competitors?
eToro is listed as an emerging player. Direct peers are Pepperstone, XM (Trading Point Holdings), Exness, OANDA, FXCM (now part of Jefferies Financial Group) and AvaTrade. Broad incumbents are Saxo Bank, Interactive Brokers and IG Group.
Does IC Markets have an API?
No public API is recorded for IC Markets.
What industry is IC Markets in?
IC Markets's product category is Retail Forex and CFD Brokerage. Its primary akta.pro industry code is FSAFANAN, Algorithmic Trading & Execution Platforms, with a secondary code of FSADAAAC, Institutional Spot Exchanges & Broker-Dealers. Its NAICS code is 5231 and its SIC code is 6221.