IC Markets Review for Indian Users
Is IC Markets available for Indian users?
IC Markets is a major ECN broker accessible to Indian users. It supports UPI deposits, offers raw spreads from 0.0 pips, and provides MT4, MT5 and cTrader platforms. Indian users should review offshore broker risks, FEMA compliance requirements, and understand that IC Markets is regulated by ASIC and CySEC, not SEBI or RBI.
Quick Verdict
IC Markets is one of the strongest choices for experienced Indian traders who prioritize tight spreads across gold, oil, stocks, indices and crypto CFDs, deep liquidity and platform flexibility. With raw spreads from 0.0 pips, three platform choices including cTrader, and UPI deposit support, it delivers institutional-grade trading conditions. However, the $200 minimum deposit and complex fee structure may not suit complete beginners.
Key Facts
Founded
2007
Headquarters
Sydney, Australia
Min Deposit
$200
Max Leverage
1:500
Rankly Score Breakdown
Account Types
| Account | Min Deposit | Spreads | Commission | Leverage | Min Lot |
|---|---|---|---|---|---|
| Raw Spread (cTrader) | $200 | From 0.0 pips | $3.00/lot per side | 1:500 | 0.01 |
| Raw Spread (MT4/MT5) | $200 | From 0.0 pips | $3.50/lot per side | 1:500 | 0.01 |
| Standard | $200 | From 0.6 pips | $0 | 1:500 | 0.01 |
Trading Platforms
MT4
- 30+ indicators
- Expert Advisors (EAs)
- One-click trading
- VPS support
- Automated trading
- Custom indicators
MT5
- 38 indicators
- 21 timeframes
- Depth of Market
- Economic calendar
- MQL5 community
- Hedging allowed
cTrader
- Level II pricing
- Advanced charting
- Algo trading (cAlgo)
- Detachable charts
- Fast order entry
- Customizable UI
Markets & Instruments
IC Markets offers over 2,250 trading instruments across multiple asset classes. Gold spreads from $0.10/oz on Raw accounts. Known for deep ECN liquidity and tight pricing on gold, oil, indices and stocks. Stock CFD selection is extensive at 1,600+ global shares. Crypto CFDs are available but the selection is smaller than dedicated crypto exchanges.
Fees & Spreads
Rating: Excellent for Raw Spread accounts; competitive for Standard
Raw Spread accounts charge a commission ($3.00–$3.50/lot per side) with spreads from 0.0 pips, making them suitable for scalpers and high-volume traders. Standard accounts have no commission but wider spreads from 0.6 pips. Swap rates apply on overnight positions. No inactivity fee charged.
| Spreads | Details |
|---|---|
| EUR/USD Spread (Raw) | From 0.0 pips + $3.00/lot commission |
| EUR/USD Spread (Standard) | From 0.6 pips (no commission) |
| Gold Spread (Raw) | From $0.10 per ounce + commission |
| Commission (cTrader Raw) | $3.00 per lot per side |
| Commission (MT4/MT5 Raw) | $3.50 per lot per side |
| Inactivity Fee | $0 |
| Deposit Fee | $0 |
| Withdrawal Fee | $0 (one free withdrawal per month) |
Deposit Methods
| Method | Processing | Min Amount | Fee |
|---|---|---|---|
| UPI / NetBanking | Instant | $200 | $0 |
| Bank Wire Transfer | 2-5 business days | $200 | $0 |
| Neteller | Instant | $200 | $0 |
| Skrill | Instant | $200 | $0 |
| PayPal | Instant | $200 | $0 |
| Crypto (USDT, BTC) | 1-2 hours | $200 | $0 |
Withdrawal Methods
| Method | Processing | Min Amount | Fee |
|---|---|---|---|
| UPI / NetBanking | 1-3 business days | $50 | $0 (first per month free) |
| Bank Wire Transfer | 3-5 business days | $200 | $0 (first per month free) |
| Neteller | 24 hours | $50 | $0 (first per month free) |
| Skrill | 24 hours | $50 | $0 (first per month free) |
| PayPal | 24-48 hours | $50 | $0 (first per month free) |
India Availability & Payments
Availability
Indian users can open accounts with IC Markets and deposit via UPI. The broker is popular among Indian traders due to its tight spreads and platform flexibility. However, IC Markets is not SEBI or RBI regulated, and Indian residents should review offshore broker risks and FEMA compliance before trading.
Payment Methods
UPI deposits are accepted, which is a significant convenience for Indian traders. The minimum deposit across all account types is $200. One free withdrawal per month is offered; subsequent withdrawals within the month may incur fees depending on the method.
Risk & Regulation Notes
IC Markets holds an Australian Financial Services License (AFSL) from ASIC and is regulated by CySEC in Europe. These are respected international regulators, but IC Markets is not regulated by SEBI or RBI in India. Indian users should understand they are trading with an offshore entity and review all applicable local regulations.
Pros & Cons
Pros
- Raw spreads from 0.0 pips with deep ECN liquidity
- Three platform choices: MT4, MT5, and cTrader
- UPI deposits supported for Indian users
- No trading restrictions — scalping, hedging, and algos allowed
- No inactivity fee
- 1,600+ stock CFDs and 2,250+ total instruments
Cons
- $200 minimum deposit higher than some competitors
- Commission structure can be confusing for beginners
- No SEBI or RBI regulation
- Educational resources are less comprehensive than XM
- No WebTrader — must download desktop platform or use mobile app
Best Alternatives for Indian Users
Frequently Asked Questions
Is IC Markets available for Indian users?
What is IC Markets' minimum deposit?
Does IC Markets offer cTrader?
Is IC Markets better than XM?
Does IC Markets charge inactivity fees?
Can Indian users trade gold on IC Markets?
Is IC Markets regulated in India?
What payment methods does IC Markets accept from India?
Important Risk Notice
Rankly provides independent educational content and platform comparisons. CFD, crypto and leveraged products are high-risk and may not be suitable for all users. Indian residents should carefully review applicable RBI, SEBI, FEMA, tax and local regulatory requirements before using any trading or crypto platform. IC Markets is not regulated by SEBI or RBI. Rankly does not provide investment advice. Trading leveraged products can result in losses exceeding your initial deposit.
Affiliate Disclosure: Rankly may receive compensation when users click links to partner brokers. This does not affect our review scores or rankings — all evaluations are based on our independent methodology.