IC Markets review: is it safe for gold trading?
Founded 2007 · Sydney, Australia
- Score (other countries)
- 41 · D
- Best score
- 80 · Australia
- Tier 1–2 for you in
- 2 / 22 countries
- Trader Voice
- 94
- Platforms
- MT4 · MT5 · cTrader · TradingView
On this page
Is IC Markets safe?
IC Markets is a 19-year-old broker headquartered in Sydney, Australia. The group has 4 regulated companies (ASIC, CySEC, FSA, SCB). How safe it is for you depends on which one opens your account: in 2 of the 22 countries we cover that is a Tier 1–2 regulated company. Elsewhere it is Raw Trading Ltd (FSA, Tier 4 · light offshore).
Regulation and licences
| Company | Regulator | Regulator tier | Licence | Retail clients |
|---|---|---|---|---|
| International Capital Markets Pty Ltd | Australian Securities and Investments Commission ↗ Australia | Tier 1 · strictest | Pending check | Yes |
| IC Markets (EU) Ltd | Cyprus Securities and Exchange Commission ↗ Cyprus (EU) | Tier 2 · strong | Pending check | Yes |
| Raw Trading Ltd | Financial Services Authority ↗ Seychelles | Tier 4 · light offshore | Pending check | Yes |
| IC Markets Ltd | Securities Commission of The Bahamas ↗ Bahamas | Tier 4 · light offshore | Pending check | Yes |
Each regulator name links to its own public register. Search the exact company name from your account agreement there before you deposit. How to verify a licence
Which company holds your account
IC Markets assigns clients to different companies depending on where they live. This is the company, regulator and score you would get in each country we cover.
| If you live in | Your account is held by | Regulator | Score | Rank |
|---|---|---|---|---|
| Other countries | Raw Trading Ltd | FSA T4 | D41 | 13 / 18 |
| United States | Not accepted | — | — | — |
| United Kingdom | Not accepted | — | — | — |
| EU / EEA | IC Markets (EU) Ltd | CySEC T2 | A76 | 11 / 20 |
| Australia | International Capital Markets Pty Ltd | ASIC T1 | A80 | 10 / 20 |
| Canada | Raw Trading Ltd | FSA T4 | D41 | 16 / 20 |
| Singapore | Raw Trading Ltd | FSA T4 | D41 | 16 / 20 |
| Malaysia | Raw Trading Ltd | FSA T4 | D41 | 13 / 18 |
| Indonesia | Raw Trading Ltd | FSA T4 | D41 | 14 / 19 |
| Thailand | Raw Trading Ltd | FSA T4 | D41 | 13 / 18 |
| Vietnam | Raw Trading Ltd | FSA T4 | D41 | 13 / 18 |
| Philippines | Raw Trading Ltd | FSA T4 | D41 | 13 / 18 |
| India | Raw Trading Ltd | FSA T4 | D41 | 13 / 18 |
| Japan | Raw Trading Ltd | FSA T4 | D41 | 17 / 21 |
| Hong Kong | Raw Trading Ltd | FSA T4 | D41 | 14 / 19 |
| UAE | Raw Trading Ltd | FSA T4 | D41 | 15 / 18 |
| South Africa | Raw Trading Ltd | FSA T4 | D41 | 14 / 18 |
| Kenya | Raw Trading Ltd | FSA T4 | D41 | 13 / 18 |
| Nigeria | Raw Trading Ltd | FSA T4 | D41 | 13 / 18 |
| South Korea | Raw Trading Ltd | FSA T4 | D41 | 13 / 18 |
| Turkey | Raw Trading Ltd | FSA T4 | D41 | 13 / 18 |
| Mongolia | Raw Trading Ltd | FSA T4 | D41 | 13 / 18 |
| Brazil | Raw Trading Ltd | FSA T4 | D41 | 13 / 18 |
Scores are provisional until our cost, news-spread and withdrawal tests are in. T1 = strictest regulator tier, T5 = company registration only. Licence details pending register check.
Trading gold with IC Markets
- Platforms
- MT4, MT5, cTrader, TradingView
- Minimum gold order
- 0.01 lot (1 oz)
- Swap-free account
- Yes
- Minimum deposit
- $200
- Round-trip cost, 1 lot XAUUSD
- Not measured yet
- Spread widening at NFP
- Not measured yet
- Withdrawal time
- Not measured yet
- Overnight swap, 1 lot long
- Not measured yet
Cost, news-spread and withdrawal tests run on live accounts from our gold cost lab. Results appear here as each broker is tested. Gold pip value calculator · Margin calculator
Fees, deposits and withdrawals
What the broker publishes about deposits, withdrawals and fees. These are the broker’s own terms, collected from independent reviews and the broker’s pages, not our lab measurements.
- Minimum deposit
- 200
- Inactivity fee
- None
- Deposit fee
- None from broker
- Withdrawal fee
- None except bank wire (about 20)
- Withdrawal time
- Same day if requested before noon AEST, otherwise next business day; up to seven business days to arrive
- Account types
- Standard (spread only) · Raw Spread (commission) · Islamic
- Raw account commission
- 7 USD per round-turn lot on MT4/MT5, 6 on cTrader
- Payment methods
- Bank transfer · Visa/Mastercard · PayPal · Neteller · Skrill · UnionPay · BPay/POLi (AU) · FasaPay · Thai and Vietnamese internet banking · Klarna
Checked 2026-11-05. Terms change; confirm on the broker’s site before you deposit.
Regulatory record
Fine2024 · CySEC · IC Markets (EU) Ltd
EUR 200,000 fine; CySEC said EU-introduced clients were offered leverage up to 1000:1 through a third-country entity (the firm said it would appeal)
Source ↗Fine2024 · CySEC · IC Markets (EU) Ltd
EUR 50,000 fine for best-execution and cost-disclosure failures
Source ↗
Fines and regulator orders in the last five years reduce the protection score: −4 each, up to −12. Self-reported breaches that were compensated, and public warnings, are shown but not scored.
Score breakdown
For clients in countries without a local licence (account held by Raw Trading Ltd): 41 / 100 · Measured so far: 45 of 100 weight points
Protection you actually get · 35%
26- Your entity’s regulator (FSA) is Tier 4 (light offshore)+16
- Negative balance protection promised by the broker only+6
- Holds at least one Tier 1 licence in the group+6
- 19 years in business+6
- Regulatory fines or orders in the last five years (2)-8
Gold trading cost · 25%
Not measured yetExecution under stress · 15%
Not measured yetMoney in and out · 15%
Not measured yetPlatforms and gold conditions · 10%
95- MetaTrader 4+20
- MetaTrader 5+20
- TradingView+15
- cTrader+10
- 0.01-lot minimum order+15
- Swap-free account available+15
Pros and cons
Pros
- Retail clients can be served by Tier 1 regulated companies (ASIC).
- Offers both MT4 and MT5.
- Can be traded directly from TradingView charts.
- Swap-free account available.
- 19 years in business.
Cons
- Licence details come from the broker’s own pages; our register check is not finished.
- Clients outside its licensed countries are onboarded to Raw Trading Ltd (FSA), a light offshore regulator.
What traders say
The Trader Voice score sits beside our expert score and is never mixed into it. It combines public review scores with ratings from our own readers.
Trader Voice
94
Expert score (other countries): 41
Our readers
No reader ratings yet. Be the first below.
What reviewers praise
- Responsive support
- Easy platforms
- Smooth account opening
- Tight raw spreads
What reviewers complain about
- Withdrawal delays or rejections
- Slow support at busy times
- Hard-to-resolve account issues
…
Trustpilot scores reflect who a broker invites to review, so we temper them with the share of one-star reviews. Reader ratings count after an account is 72 hours old; one rating per account per broker. Full methodology and data rules
Trader evidence
What readers report from their own accounts: how long withdrawals took, complaints whose evidence our editors checked, and corrections to our data. Nobody can pay to remove a complaint.
Median withdrawal time
—
No reports yet
Arrived within 24 hours
—
Verified complaints
0
0 resolved
…
Questions
Is IC Markets safe for gold trading?
IC Markets is a 19-year-old broker headquartered in Sydney, Australia. The group has 4 regulated companies (ASIC, CySEC, FSA, SCB). How safe it is for you depends on which one opens your account: in 2 of the 22 countries we cover that is a Tier 1–2 regulated company. Elsewhere it is Raw Trading Ltd (FSA, Tier 4 · light offshore).
Is IC Markets regulated?
Yes. International Capital Markets Pty Ltd is regulated by Australian Securities and Investments Commission (Australia). IC Markets (EU) Ltd is regulated by Cyprus Securities and Exchange Commission (Cyprus (EU)). Raw Trading Ltd is regulated by Financial Services Authority (Seychelles). IC Markets Ltd is regulated by Securities Commission of The Bahamas (Bahamas). These details are from the broker’s legal pages and our register check is still pending.
Which countries does IC Markets not accept?
Of the countries we cover, IC Markets does not accept residents of United States, United Kingdom.
Does IC Markets offer MT4, MT5 or TradingView for gold?
IC Markets offers MT4, MT5, cTrader, TradingView. The minimum gold order is 0.01 lot.
Does IC Markets have a swap-free account?
Yes. Check the account terms: many swap-free accounts charge an admin fee once a position is held for a few days.
What is the IC Markets minimum deposit?
$200 on the standard account, according to the broker.
Alternatives
See also
Best brokers by country
Data checked: November 2026 · Sources: [1]
CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. Ratings are our opinion, based on the data and rules described in the methodology. They are not investment advice.