IC Markets review

IC Markets Review

Overall, IC Markets is considered a low-risk and can be summarised as a trustworthy and reliable broker. IC Markets is regulated by the top-tier ASIC and is very competitive in terms of its trading fees (against major currency pairs). IC Markets is currently not regulated by the CBN.

In this in-depth review, we will cover:

  • Can I use ic market in Nigeria? – Yes!
  • Icmarkets mt4 reviewed. 
  • Icmarket minimum deposit
  • and much more
Updated : June 21, 2023

Jump to:

005 regulations book

Regulation and Safety of Funds

005 feature selection

Account Types and Features

006 add user

Account Registration

002 candlestick

Range of Markets

007 fees


001 cash withdrawal

Deposits and Withdrawals

003 research

Education and Research

002 affiliate marketing

Affiliate Program

008 auction

Final Verdict

004 review

Pros and Cons

001 question


Overall Rating

Min Deposit

USD 200 / 82900 NGN



Trading Desk

Metatrader 4



Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

IC Markets at a glance

🏛️ HeadquarteredSydney, Australia
🏛️ Nigerian Based OfficeNo
👍 Accepts Nigerian Traders?Yes
📅 Year Founded2007
📱 Nigerian Office Contact NumberNone
⚖️ RegulationASIC, CySEC, FSA, SCB
🔎 License NumberSeychelles – SD018
Australia – AFSL 335692
Cyprus – 362/18
Bahamas – SIA-F214
⚖️ CBN RegulationNone
✴️ Regional RestrictionsUnited States, Canada, Iran, Yemen, and OFAC countries
☪️ Islamic AccountYes
📈 Demo AccountYes
📈 Retail Investor Accounts3
📊 PAMM AccountsMAM Accounts
📊 Liquidity Providers25
💸 Affiliate ProgramYes
📊 Crypto trading offered?Yes
🚀 Offers a Nigerian Account?No
💻 Dedicated Nigerian Account Manager?No
📈 Maximum Leverage1:500
📈 Leverage Restrictions for Nigeria?No
💳 Minimum Deposit (₦)83,000 Nigerian Naira equivalent to $200
💳 Nigerian Naira Deposits Allowed?No
💰 Active Nigerian Trader Stats1.3 million
🤝 Active Nigerian-based IC Markets customers1,000+
💰 Nigeria Daily Forex Turnover$1.25 million+
💳 Deposit and Withdrawal OptionsCredit Card
Debit Card
Neteller VIP
Bank Wire Transfer
Broker to Broker
Thai Internet Banking
Vietnamese Internet Banking
💰 Segregated Accounts with Nigerian Banks?No, only Australian banks
💻 Trading PlatformsMetaTrader 4, MetaTrader 5, cTrader
💰 Tradable AssetsForex
🌐 Offers USD/NGN currency pair?No
🌐 USD/NGN Average SpreadN/A
📈 Offers Nigerian Stocks and CFDsNo
👨‍💼 Languages supported on WebsiteEnglish, Spanish, Russian, Thai, Malay, Vietnamese, Italian, Portuguese, and several others
👥 Customer Support LanguagesMultilingual
👥 Customer Service Hours24/7
👥 Nigerian-based customer support?No
💰 Bonuses and Promotions for NigeriansNone
✴️Education for Nigerian beginnersYes
📊 Proprietary trading softwareNo
💰 Most Successful Nigerian TraderUche Paragon ($20 million net worth)
✔️Is IC Markets a safe broker for Nigerians?Yes
✔️Rating for IC Markets Nigeria9/10
✔️Trust score for IC Markets Nigeria85%

IC Markets Overview

IC Markets overview

👉 According to research in Nigeria, one of the leading ECN online brokers in the world is IC Markets.

👉 This true ECN broker provides a wide variety of trading options and low spreads from 0.0 pips on the most popular trading platforms, with deep liquidity from a diverse mix of liquidity providers that assures swift trade execution speeds at the best available pricing.

👉 IC Markets is a reputable financial provider that is well-regulated by several entities. While the international broker does not hold regulations with the Central Bank of Nigeria (CBN), IC Markets has regulations through ASIC, CySEC, FSA in Seychelles, and SCB.

👉 IC Markets does not have an office in Lagos, Nigeria but has offices in the Bahamas, Cyprus, Australia, and Seychelles, with international customer support offered 24/7. IC Markets also has a large market share in Nigeria, with 3% of its overall client base of active traders residing in the region.

👉 Part of what makes IC Markets such an attractive option for Nigerian retail traders is the commission-free trading accounts, a wide selection of free account funding alternatives and great customer service.

👉 This IC Markets review will provide traders with the details that they need to consider whether the broker is suited towards their unique trading objectives and needs.

Distribution of Traders

👉 The distribution of retail traders for IC Markets is as follows:

➡️️ Vietnam – 11.21%

➡️️ United Kingdom – 5.97%

➡️️ Australia – 5.86%

➡️️ Poland – 4.99%

➡️️ Nigeria – 3.72%

Popularity among traders who choose IC Markets

🥇 IC Markets may not have CBN regulation or a local office in Nigeria, but it has a large market share in the country, with 3.75% of its active traders originating from this large, active African country. Because of its market share, IC Markets falls within the top 20.

Regulation and Safety of Funds

IC Markets regulation review

👉 IC Markets operates through the following global entities and regulations:

➡️️​ Seychelles – Raw Trading Ltd with regulation through the Financial Services Authority of Seychelles under company number 8419879-2 and license number SD018.

➡️️​ Australia – International Capital Markets Pty Ltd. with regulations through the Australian Securities and Investments Commission (ASIC) under company number 123 289 109, business number 12 123 289 109 and Australian Financial Services Number 335 692.

➡️️​ Cyprus – IC Markets (EU) Ltd. is regulated by the Cyprus Securities and Exchange Commission (CySEC) with company number 356877 and company license number 362/18.

➡️️​ Bahamas – IC Markets Ltd. is regulated by the Securities Commission of the Bahamas under license number SIA-F214 and company number 76823 C.

👉 IC Market Global is fully compliant with the FSA regulatory standards and has in place internal risk management measures to guarantee appropriate capital needs are constantly maintained. External audits augment IC Markets Global operating and accounting procedures and assure complete regulatory compliance.

👉 IC Markets EU is fully compliant with CySEC regulatory requirements, and the broker is obliged to fulfil high financial standards. This includes all capital adequacy as well as any audit requirements.

👉 IC Markets EU is devoted to ensuring that there is strict managerial discipline along with first-class controls in the regulatory framework and compliance environment.

👉 Australian Securities and Investments Commission (ASIC), the country’s financial services regulator. The ASIC is responsible for overseeing all financial markets in Australia, ensuring that they are both fair and transparent, backed by confident and knowledgeable investors and customers.

👉 In addition to this, the Australian Securities and Investments Commission is an independent Commonwealth Government agency formed under the ASIC Act (ASIC Act), which carries out most of its activities under the Corporations Act.

👉 Financial services companies in Cyprus are regulated by CySEC, which has been in place for quite some time. CySEC forms part of the reputable European Securities and Markets Authority (ESMA).

👉 A CySEC-licensed company must adhere to all national and European rules and regulations that apply to investment businesses, which IC Markets EU does.

👉 It is the responsibility of the Seychelles Financial Services Authority (FSA) to ensure that Seychelles’ financial markets are fair and transparent and backed by confident and knowledgeable investors and consumers.

👉 The Financial Services in Seychelles is an entity that is well-regulated by the Seychelles Financial Services Authority, an independent regulatory organization.

Account Types and Features

IC Markets Account Types


👉 IC Markets offers three distinct retail investor accounts, each with unique features and trading conditions that cater for different types of traders.

➡️️​ cTrader Account

➡️️​ Raw Spread Account

➡️️​ Standard Account


Live Trading Accounts

cTrader Account

👉 cTrader is a leading trading platform that was created to cater for CFD trading, providing traders with an array of advanced trading tools, charting options, and more.


Account Feature
💻 Trading PlatformcTrader

💰 Commission$3 per side and $6 per round turn
📈 Typical Average Spreads0.0
💳 Minimum Deposit Requirement83,000 Nigerian Naira equivalent to $200
📈 Leverage1:500
📈 Maximum positions per account2,000
🏛️ Server LocationLondon
✴️ Micro trading allowed?Yes
📊 Currency Pairs64
📊 Index CFD TradingYes
📊 Stop-out50%
📈 One-Click Trading offered?Yes
☪️ Islamic AccountsYes
📊 Trading Styles acceptedScalping, hedging, expert advisors, algorithmic strategies, etc.
💻 Programming LanguageC#
👍 Suitable forDay traders, scalpers, active traders
📊 Demo Account offered?Yes


Raw Spread Account

👉 The Raw Spread Account provides the lowest spreads and charges with a small commission fee on trades. This account is also known for its deep liquidity and reliable execution speeds. This account is suited to day traders, expert advisors, scalpers, and high-frequency traders.


Account Feature
💻 Trading PlatformMetaTrader 4 and 5
💰 Commission$3.5 per side and $7 per round turn
📈 Typical Average Spreads0.0
💳 Minimum Deposit Requirement83,000 Nigerian Naira equivalent to $200
📈 Leverage1:500
📈 Maximum positions per account200
🏛️ Server LocationNew York
✴️ Micro trading allowed?Yes
📊 Currency Pairs64
📊 Index CFD TradingYes
📊 Stop-out50%
📈 One-Click Trading offered?Yes
☪️ Islamic AccountsYes
📊 Trading Styles acceptedScalping, hedging, expert advisors, algorithmic strategies, etc.
💻 Programming LanguageMQL4
👍 Suitable forExpert advisers, scalpers
📊 Demo Account offered?Yes


Standard Account

👉 The IC Markets Standard Account offers high execution speeds and all-inclusive spreads with no commissions.


Account Feature
💻 Trading PlatformMetaTrader 4 and 5
💰 CommissionNone
📈 Typical Average Spreads0.6
💳 Minimum Deposit Requirement83,000 Nigerian Naira equivalent to $200
📈 Leverage1:500
📈 Maximum positions per account200
🏛️ Server LocationNew York
✴️ Micro trading allowed?Yes
📊 Currency Pairs64
📊 Index CFD TradingYes
📊 Stop-out50%
📈 One-Click Trading offered?Yes
☪️ Islamic AccountsYes
📊 Trading Styles acceptedScalping, hedging, expert advisors, algorithmic strategies, etc.
💻 Programming LanguageMQL4
👍 Suitable forDiscretionary Traders
📊 Demo Account offered?Yes


Demo Account

IC Markets demo account


👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital. 


👉 There is a certain degree of risk involved when trading financial markets and IC Markets offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.


Islamic Account

IC Markets Islamic account


👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.


👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.


👉 The Islamic Accounts, or Swap-Free Accounts, provide Muslim traders access to over 90 instruments that can be traded, without earning or paying interest when holding overnight positions.


👉 Trades in currencies, metals, and indices, barring exotic currency pairs, Brent, Natural Gas and WTI’s, are not subject to swap or interest on swap-free accounts.


👉 Flat rate financing charges will be applied to any deals that remain open for more than one day in the following currency pairs: When market circumstances need, rates and holding periods can be adjusted. Commissions and spreads for IC Markets Raw Spread and Standard Accounts are in effect.


👉 The commissions charged on Islamic Accounts range from $5 up to $80 per lot according to the financial instruments. In addition, there is a triple charge on Friday nights.

Account Registration

👉 The account registration with IC Markets is quick and the broker allows for instant deposits, which means that Nigerian traders can start trading quickly. Traders must complete a short registration form, confirm their email address, and upload proof of identity and proof of residence.


👉 Once verification has been done, the trading account can be approved, and traders can start exploring what IC Markets offers.

IC Markets Vs Exness Vs JustMarkets – Broker Comparison

IC MarketsExnessJustMarkets
📱 Trading PlatformMetaTrader 4
MetaTrader 5
MetaTrader 4
MetaTrader 5
MetaTrader 5
MetaTrader 4
JustMarkets App
💰 Withdrawal FeeNoneNoNo
📊 Demo AccountYesYesNo
📈 Minimum Deposit83,000 NGN ($200)4,100 NGN400 NGN ($1)
📈 Leverage1:500UnlimitedUp to 1:3000
📊 SpreadFrom 0.0 pipsVariable, from 0.0 pipsFrom 0.0 pips
💰 CommissionsFrom $3 to $3.5From $0.1 per side, per lot3 base currency units per lot/side
✴️ Margin Call/Stop-OutStop-Out 50%60%/0%40%/20%
✴️ Order ExecutionMarketMarketMarket
💳 No-Deposit BonusNoNoYes
📊 Cent AccountsNoYesYes
📈 Account TypescTrader Account
Raw Spread Account
Standard Account
Standard Account
Standard Cent Account
Raw Spread Account
Zero Account
Pro Account
MetaTrader 4 Standard Cent Account
MetaTrader 4 Standard Account
MetaTrader 4 Pro Account
MetaTrader 4 Raw Spread Account
MetaTrader 5 Standard Account
MetaTrader 5 Pro Account
MetaTrader 5 Raw Spread Account
⚖️ CBN RegulationNoNoNo
💳 NGN DepositsNoYesYes
📊 Nigerian Naira AccountNoNoNo
👥 Customer Service Hours24/724/724/5
📊 Retail Investor Accounts357
☪️ Islamic AccountYesYesYes

Trading Platforms

IC Markets trading platforms


👉 IC Markets offers its clients unlimited access to MetaTrader 4, MetaTrader 5, and cTrader. These three trading platforms are the most well-known and easiest to use on the market right now. The True ECN trading mechanism is included on all the platforms at no additional cost to all traders.


👉 The brokers’ mobile trading applications make it feasible to trade while on the move. Despite where traders travel, if they have an internet connection, they can access their trading account and manage their active positions. 


👉 Millions of traders throughout the world rely on MT4 as their primary trading platform. If traders prefer not to download or install any extra software, they can run it right from a web browser without having to download or install anything at all.


👉 Apps for Android and iOS devices can be downloaded free of charge from the respective app stores. There are many built-in tools for analyzing charts to locate prospective trading opportunities which are spread across a wide range of markets on the MT4 trading platform.


👉 New traders will find it easy to use, while more seasoned investors will appreciate the complex features.


👉 Traders have access to the full suite of instruments that IC Markets offers using MetaTrader 5 as it’s an all-in-one trading platform. In addition, MetaTrader 5 has become one of the most powerful trading platforms for aggressive traders through IC Markets, attributable to the broker’s raw spreads.


👉 MetaTrader 5 is the most updated version of MetaTrader 5 that is being used today. Advanced charting and order management features in MetaTrader 5 helps traders keep track of and make rapid adjustments to trading positions. MT5 is accessible on both the Raw Pricing and Standard IC Markets account types.


👉 cTrader is a high-speed trading software built for online trading in worldwide markets. Discretionary Forex traders choose it because of its distinctive appearance and user-friendly interface, as well as its extensive set of sophisticated capabilities.


👉 Customers benefit from new technology that brings together the speed of an advanced trading platform with the depth of liquidity of IC Markets to provide the best trading solution.


Range of Markets

👉 IC Markets offers the following tradable instruments:

➡️️​ Forex

➡️️​ Commodities

➡️️​ Indices

➡️️​ Bonds

➡️️​ Cryptocurrencies

➡️️​ Stocks

➡️️​ Futures

Trading and Non-Trading Fees


👉 IC Markets offers variable spreads and the charges will depend on the financial instrument being traded, the type of account used, and the market conditions on the trading day. The average spreads that traders can expect when trading EUR/USD are as follows:


➡️️​ cTrader Account – 0.0 pips

➡️️​ Raw Spread Account – 0.0 pips

➡️️​ Standard Account – 0.6 pips



IC Markets comissions


👉 IC Markets charges commissions on zero-spread accounts to cover the broker’s fee for facilitating the trade. The live trading account commissions that Nigerian retail traders can expect from IC Markets are as follows:


➡️️​ cTrader Account – $3 per side and $6 per round turn

➡️️​ Raw Spread Account – $3.5 per side and $7 per round turn


👉 In addition, IC Markets also charges commissions on the Islamic account that range between $5 up to $80 to offset the absence of overnight fees.


Overnight Fees, Rollovers, or Swaps

👉 The overnight interest added or subtracted for keeping a trade open overnight is what is known as a swap rate or rollover in the FX market. If a currency pair is long or short, overnight interest rate differences between the currencies are used to calculate swap rates.


👉 Traders must note that swaps are applied when they keep their positions open until the next forex day. Some financial instruments could have negative swap rates on both sides of the trade. Swaps are calculated in points, and they are converted into the account base currency through the trading platform.


👉 In addition, every financial instrument has a unique swap rate that is measured according to a standard size of 1 standard lot, which is 100,000 units of the base currency.


👉 Traders can expect an average swap rate of -3.98 long and 0.35 short on EUR/USD.


Deposits and Withdrawals

IC Markets Deposit funding accounts


👉 IC Markets offers the following deposit and withdrawal methods:

➡️️​ Credit Card

➡️️​ Debit Card

➡️️​ PayPal

➡️️​ Neteller

➡️️​ Neteller VIP

➡️️​ Skrill

➡️️​ UnionPay

➡️️​ Bank Wire Transfer

➡️️​ Bpay

➡️️​ FasaPay

➡️️​ Broker to Broker

➡️️​ POLi

➡️️​ Thai Internet Banking

➡️️​ Vietnamese Internet Banking

➡️️​ Rapidpay

➡️️​ Klarna


Process to Withdraw Funds from an IC Markets Account

👉 To withdraw from an IC Markets account, traders need to submit a withdrawal request. This request can be found in the trader’s Client Area and consists of an online form that must be completed. Once completed, traders can submit their withdrawal request before 12 pm AEST/ AEDT, which means that the withdrawal can be processed during the same business day.


👉 When traders request for a withdrawal, they must note the following:

➡️️​ If traders submit their withdrawal request after 12 pm AEST/ AEDT, it will be processed the next business day.


➡️️​ Credit and Debit card withdrawals do not have a process fee and these withdrawals can take up to 5 working days.


➡️️​ SafeCharge withdrawals through IC Markets can only revert the amount that was deposited. Alternatively, traders must select a different withdrawal method.


➡️️​ If traders use International Bank Wire Transfers, there will be a processing fee of AU$20 charged, and this amount will be deducted from the withdrawal amount.


➡️️​ If traders use Paypal, Neteller, or Skrill for withdrawals, it will be made to the same account from where funds were initially received.


➡️️​ If the trader’s credit or debit card has expired, a new and valid copy of the new card must be uploaded to the client area so that details can be updated.

IC Markets Broker Comparison for Range of Markets

IC MarketsExnessJustMarkets
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsNoNoNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyYesNoYes
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesYesYes
➡️️​ BondsYesNoNo

Education and Research

IC Markets education


👉 IC Markets offers beginner traders the following educational materials:

➡️️​ Trading Knowledge

➡️️​ Advantages of Forex

➡️️​ Advantages of CFDs

➡️️​ Video Tutorials

➡️️​ Web TV

➡️️​ Webinars

➡️️​ Podcasts

➡️️​ Getting Started (includes 10 lessons)


👉 The research and tools offered by IC Markets include:

➡️️​ Economic Calendar

➡️️​ Market Analysis Blog

➡️️​ Forex Calculators

➡️️​ Forex Glossary

How To Minimize Risk While Trading? 

How To Minimize Risk While Trading? 

1. Use Stop Losses

👉 A stop loss is a trading technique that takes you out of losing trades at a predetermined level in order to limit your losses. Utilize stop losses to ensure a 1:1 risk-reward ratio and above in all your trades in order to limit losses and maximize profits on each trade. For example, if you’re setting your stop loss at 50 pips below your entry point, set your take profit at least 50 pips above your entry point.


👉 A 1:2 risk-reward ratio and above will ensure that you remain profitable even if the majority of your trades are losing trades. Using a 1:2 risk-reward ratio means that you should place your stop loss at 100 pips if you have a profit target of 200 pips and so on.


👉 If you are a more aggressive trader, you can use a 1:3 risk-reward ratio, where you risk 100 pips for a profit target of 300 pips.


2. Use Proper Lot Sizes

👉 Trading using proper lot sizes is crucial to your success as a trader. That’s because the lot size determines the value of each point of the currency pair you are trading. A standard lot typically refers to 100,000 units of the base currency you are trading. Therefore, trading a standard lot of the EURUSD currency pair puts the value of each point at USD 100.


👉 The lot sizes you trade should be proportionate to the amount you are willing to risk on each trade, which is directly related to the size of your account and your risk appetite.


3. Control Your Losses

👉 You should only risk 2% or less of your trading account on each trade. This will ensure that you can survive any losing streak while minimizing the drawdown on your trading account.


👉 Remember: losses in forex trading are not linear. A 50% loss would require a 100% gain in order to recover your original trading account level.


4. Use Leverage Carefully

👉 Most forex brokers offer to trade with leverage, and with Exness traders can enjoy up to 1:Unlimited leverage. While trading with leverage is one of the great advantages of trading forex, it can also increase the risk of losses if used incorrectly. Leverage works as a ratio, meaning that if you trade with USD 10 at a leverage of 1:50 your market investment will be USD 500. This means that, if your investment moves in a favourable direction, your profits would be 50x bigger than they would have been without leverage. However, this also means that your losses if the currency moves in an unfavourable direction would be 50x greater as well. Traders are therefore reminded to apply leverage with care.


5. Choose The Time Of Day That You Trade

👉 Most traders tend to ignore the impact of the time of day that they trade. However, traders who are active during periods of less volatility tend to be more profitable than traders who trade during periods of high volatility.


👉 The high volatility periods for different currency pairs vary, but can generally be summarized as the opening hours of the Asian sessions, the London/European sessions, and the New York/American sessions.


👉 Experienced traders who are trading European currency pairs, such as EURUSD and GBPUSD, typically trade during off hours from 7PM to 11AM GMT. However, this data applies to range of traders who trade following the existing trends but might differ for traders using other trading strategies, such as scalping.


6. Buy The Rumor, Sell The News

👉 Many traders like to stay abreast of news that affects the forex market, but this is very hard to do given that it is near-impossible to accurately predict what will happen at any given time across the globe. However, experienced traders typically keep abreast of economic releases from different countries, which generally have an impact on many currency pairs.


👉 In most cases, markets typically discount the news based on investors’ expectations, which means that by the time the news is released, the big moves in the affected currency pairs would have already taken place. Therefore, it is important to make trades related to major news events way before the actual news is released.

All About IC Markets’ Rebate System

All About IC Markets' Rebate System

How much rebate can I pay back?

👉 Rebate percentage can be set to be anything between 0% and 100%.


Payment schedule

👉 Rebates are paid daily to the selected referred clients who have closed any trades within the last 24 hours. Daily payments need to be approved by the partner.


👉 Once rebates are set up from your PA, rebates will be automatically calculated for the selected referred clients every time you receive rewards. Total daily rebates will then await your approval in the Approval section of the Rebates tab, or be automatically distributed if you have selected automated approval on rebates for specific referred clients; more information about this is available in the article about how to manage rebates.

IC Markets Affiliate Program

👉 IC Markets offers a dynamic and rewarding affiliate program that offers partners competitive, volume-based payment according to the trading activities of referrals. The affiliate program of IC Markets requires that partners refer new active traders to the broker.


👉 IC Markets offers its preferred partners a wide range of tools, features, and dedicated customer support. In partnership with IC Markets, affiliates can:

➡️️​ Harness market-leading trading performance

➡️️​ Grow a business while guiding clients

➡️️​ Convert using expert support

➡️️​ Expand the business using financial advice and guidance provided by a specialist team

➡️️​ Remain ahead of the competition and receive comprehensive reports and insights

➡️️​ Access flexible funding options

Alternative Brokers to IC Markets

Alternative Brokers to IC Markets

➡️ TD Ameritrade

➡️ AvaTrade 

➡️ ACY Securities


➡️ Pepperstone

➡️ Webull

Verdict on IC Markets

👉 IC Markets is one of the best forex brokers that cater for beginner traders and advanced traders alike. IC Markets is one of the largest true ECN brokers that offers the tightest spreads, allowing the broker to maintain its significant daily trading volume, ensuring that traders have enough market liquidity.


👉 IC Markets offers Nigerian traders access to complex instruments that can be traded from every financial market. There is negative balance protection applied to all retail investor accounts and traders have access to flexible funding options including bank transfers, and more.


👉 In addition to a comprehensive third-party tool, IC Markets also offers Nigerian high volume traders’ depth of market, technical indicators, trading signals, advanced tools, advanced charting tools, and more, allowing traders to add a competitive edge to their trading.

IC Markets Pros and Cons

✔️ Pros❌ Cons
IC Markets is reputable and well-regulated, offering a safe environment and investor protectionThe initial deposit is higher than other brokers
The broker is compliant with regulatory requirementsThere may be a conversion fee charged
IC Markets offers a wide range of tools, technical indicators, trading ideas, and comprehensive trading services.United States traders, amongst some other regions, are not accepted
The broker accepts all trading strategies including automated trading strategies, scalping, hedging, and so on.Fixed spread accounts are not provided
IC Markets is known for providing a safe, transparent trading experience through powerful desktop platforms, web terminals, and mobile trading platformsIC Markets does not have any proprietary trading platforms
There are several educational articles offered to beginner traders
Traders can expect deep liquidity and reliable trade execution
There is a transparent fee structure with low trading costs and competitive spreads
There is a wide range of tradable instruments offered

Frequently Asked Questions


Is IC Markets a good and legit broker to trade with?

 IC Markets is legit as it adheres to strict regulation by ASIC, CySEC, FSA, SCB. With the high level of trust it enjoys in the market, low forex fees, fast and easy account opening and very good online support, IC Markets is considered by many traders to be good to trade with.

Does IC Markets offer leverage and what is the maximum ratio offered?

Yes, IC Markets offers leverage of 1:500.

Which financial instruments can I trade with IC Markets?

You can trade the following:

  • Forex
  • Commodities
  • Indices
  • Bonds
  • Cryptocurrencies
  • Stocks
  • Futures

What is the overall rating for IC Markets out of 10?


Is IC Markets suitable for beginner and professional traders?

Yes, IC Markets makes provisions for beginner and professional traders.

9.7/10 - (22 votes)