IC Markets

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.

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

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

• Forex CFD broker
• ECN broker services
• Multi-asset CFD trading
• Algorithmic trading platform
• Retail forex brokerage

Headquarters

HQ city

Sydney

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Infrastructure, Marketing or Sales, Personnel, Operations

Revenue model

1. 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.
2. 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.
3. 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

Go-to-market motion1 record

Distribution channels6 records

Marketing channels10 records

Core 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

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature8 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Guillermo OchoacoreGTM or Marketing Partner · 10 April 2026Strategic 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 SystemsminorStrategic or Co-development Partner · 5 February 2026Participation 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 PopyrinminorGTM or Marketing Partner · 2 January 2026Partnership 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 TeamcoreGTM or Marketing Partner · 8 December 2025IC 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 StudioscoreStrategic or Co-development Partner · 20 November 2025Collaboration 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.
• TipRankscoreTechnology or Integration · 23 May 2024TipRanks 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.
• TradingViewcoreTechnology or Integration · 1 March 2024Native integration with TradingView platform enabling traders to access IC Markets execution directly from TradingView's charting and analysis tools.
• Peter Tardent (New Management Team)coreOthersFormer BlackBull Markets executive Benjamin Boulter launched TabTrade in Saint Lucia. Not an IC Markets partnership.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Emerging 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

• Xx.com/IC_Markets
• YouTubeyoutube.com/@ic.com.official
• Facebookfacebook.com/icmarkets
• LinkedInlinkedin.com/company/icmarkets
• Instagraminstagram.com/icmarketsglobal

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IC Markets