IC Markets India Review - TU Expert Opinion
IC Markets is a reputable Forex broker offering Indian traders access to global financial markets. While IC Markets is not regulated by SEBI, it operates legally in India under international licenses from ASIC, CySEC, and FSA. The broker provides competitive spreads, multiple trading platforms (MetaTrader, cTrader, TradingView), and a variety of funding options. With strong security measures and transparent trading conditions, IC Markets is considered a reliable choice for traders in India.
IC Markets is a globally recognized Forex broker known for its fast execution speeds, competitive spreads, and advanced trading platforms. In this IC Markets review, we analyze the broker’s offerings in India, regulatory status, trading conditions, and overall suitability for Indian traders. Whether you are a beginner or an experienced trader, this review provides key insights to help you make an informed decision.
Is the Forex market legit in India?
Many traders wonder, "Is IC Markets legit in India?" The answer is yes — while the broker does not hold a direct SEBI license, it operates under globally recognized financial regulators, ensuring a secure and transparent trading environment for Indian traders.
For those asking, "Is IC Markets regulated in India?", the broker does not have local authorization but is regulated by top-tier authorities like ASIC (Australia), CySEC (Cyprus), and FSA (Seychelles). This allows Indian traders to legally access the platform through its international regulatory framework.
Before opening an account, it’s crucial to verify IC Markets license in India. Since the broker operates through offshore regulations, Indian traders can still benefit from tight spreads, advanced trading tools, and deep liquidity. While IC Markets is not SEBI-regulated, it remains a legitimate and trusted choice for Forex traders in India, offering compliance with global financial standards.
Under the SEBI rules, the following currency pairs can be traded in India:
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EUR/INR
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GBP/INR
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JPY/INR
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USD/INR
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EUR/USD
Other currency pairs and also CFDs are officially prohibited in India. Therefore, such instruments can be found only at offshore brokers. However, trading with offshore brokers could lead to big issues with the tax authorities.
How to trade Forex in India
IC Markets
Trading Forex in India does not require any special status or licensing for individual traders. The process begins with selecting a reputable broker, registering on its platform, and completing account verification, which is a mandatory step for Indian traders. Once verified, traders can fund their accounts and begin trading in the global Forex market.
IC Markets in India provides Forex trading with advanced trading tools, competitive spreads, and high execution speeds. The platform offers multiple account types and supports various trading strategies, catering to both new and experienced traders in India. Whether engaging in scalping, swing trading, or algorithmic trading, IC Markets ensures seamless access to major currency pairs and deep liquidity pools.
Our evaluation of IC Markets
IC Markets is one of the top brokers in the financial market with the TU Overall Score of 8.63 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.
IC Markets Trading Company is a great broker for scalping enthusiasts, automated trading lovers, and beginner traders.
Detailed review of IC Markets in India
IC Markets is a well-established Forex broker offering institutional-grade trading conditions in India. While it does not hold a SEBI license, it operates under global financial regulations, making it a secure and reliable choice for traders in India.
Many traders ask, "Is IC Markets an ECN broker in India?" The answer is yes — IC Markets functions as a true ECN broker, providing raw spreads, direct market access, and deep liquidity. This makes it an ideal choice for scalpers, high-frequency traders, and algorithmic trading strategies in India.
As a trusted Forex broker, the platform delivers fast execution speeds, minimal slippage, and advanced trading tools. Traders can access a wide range of Forex pairs, commodities, indices, and CFDs, making it suitable for both beginners and experienced professionals.
For those seeking a comprehensive IC Markets review in India, the broker is recognized for its competitive pricing, multiple account types, and user-friendly trading platforms. Indian traders benefit from flexible funding options, strong security measures, and access to global liquidity providers, ensuring a smooth and transparent trading experience.
Originally established in Australia in 2007, IC Markets has expanded its services globally. Since 2018, it has been authorized to operate in the European Economic Area and continues to serve traders worldwide through its regional offices.
Advantages of IC Markets for trading in India
Traders Union analysts have evaluated IC Markets in India and identified the key benefits for Indian traders. The broker stands out for its fast execution speeds, competitive pricing, and advanced trading features, making it a reliable choice for both beginners and professionals:
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High execution speeds ensure smooth order placement, benefiting intraday traders and scalpers.
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IC Markets in India offers minimum deposit from $200, making it accessible while maintaining professional trading conditions.
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No deposit or maintenance fees, making it cost-effective for all types of traders.
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Demo accounts available on MetaTrader and cTrader, allowing traders to test strategies risk-free.
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Competitive trading fees compared to other leading brokers.
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Copy trading and algorithmic trading support, making it suitable for passive and automated traders.
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Investment in real stocks is available for Australian clients.
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Webinars and free educational materials help new traders develop their skills.
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24/7 multilingual customer support ensures assistance is available whenever needed.
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Free VPS hosting is available for traders who maintain a monthly trading volume of 15 lots or more.
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IC Markets in India offers spreads from 0.0 pips on Raw Spread accounts and average 0.8 pips on Standard accounts, ensuring cost-effective trading.
Analysis of the Main Features of IC Markets in India
Traders Union analysts analyzed the key features of IC Markets for traders from India. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for IC Markets traders from India
Before choosing a broker, it is essential to evaluate its trading conditions, including minimum deposit requirements, trading platforms, leverage options, and overall market access. Traders Union analysts have compared IC Markets Forex trading features to help Indian traders make an informed decision.
A common question among traders is, "Can I use IC Markets in India?" The answer is yes — Indian traders can legally access through its internationally regulated entities, ensuring a secure and transparent trading environment. Since the broker is not directly regulated by SEBI, it operates under global financial regulations, allowing Indian traders to participate in international Forex markets.
For those looking for professional-grade trading conditions, IC Markets in India offers Forex trading with tight spreads, ECN execution, and access to major currency pairs. Traders can benefit from institutional liquidity, advanced charting tools, and multiple trading platforms, making it a strong choice for Indian investors.
Trading conditions for IC Markets traders
| Trading platform: | MetaTrader 4, MetaTrader 5, TradingView and cTrader |
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Accounts: |
Demo, Standard, Raw Spread and Islamic (Swap Free) |
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Account currency: |
EUR, USD, GBP, CAD, AUD, HKD, NZD, CHF, SGD, and JPY |
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Replenishment / Withdrawal: |
All countries: Wire transfers, Visa, Mastercard, Skrill, PayPal, Neteller, RapidPay, and Klarna; Restricted methods: UnionPay, POLI, Fasapay, BPAY, internet banking (Thailand and Vietnam), WebMoney, and Broker to Broker |
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Minimum deposit: |
$200 |
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Leverage: |
1:500 (FSA); 1:30 (ASIC and CySEC) |
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PAMM-accounts: |
No |
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Min Order: |
0.01 |
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Spread: |
Standard: 0.8 pips; Raw Spread: 0 pips; |
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Instruments: |
Cryptos and Forex CFDs on indices, commodities, stocks, bonds, and futures |
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Margin Call / Stop Out: |
50%/100% |
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Liquidity provider: |
Westpac and National Australia Bank |
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Mobile trading: |
Yes |
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Affiliate program: |
Yes |
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Orders execution: |
Market |
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Trading features: |
Scalping and expert advisors; Maximum number of orders is 200 for MT4/MT5; and 2,000 for cTrader. |
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Contests and bonuses: |
Rebates for the Global division; Free VPS. |
IC Markets commissions and fees
Traders Union analysts analyzed commissions and fees charged by IC Markets for traders from India. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
To start trading, an IC Markets funded account in India is required, and traders can deposit funds through multiple payment methods, including bank transfers, credit/debit cards, and e-wallets like Skrill and Neteller.
When evaluating costs, IC Markets commissions in India are competitive, with spreads starting from 0.0 pips on Raw Spread accounts and a commission of $6-$7 per lot, making it an attractive option for cost-conscious traders.
Information
Trading fees include spreads, fees per lot, and swaps. IC Markets has variable spreads from 0.8 pips on Standard and from 0 pips on ECN account types. Therefore, fees for one instrument can vary subject to the time of day and the market situation. Fees per lot are charged only on ECN account types. They are $7 per lot on MT4/MT5 and $6 on cTrader. Swaps are charged when positions are transferred overnight, but they do not apply to the Islamic account type. Non-trading fees are fees not related to trades. At IC Markets, these are withdrawal fees when using international bank transfers. The broker doesn’t charge other non-trading fees.
TU experts have compared IC Markets’ fees and compiled the table below.
IC Markets commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
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Standard |
$8 |
Bank fees apply |
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Raw spread MT4/MT5 |
$0 |
Bank fees apply |
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Raw spread cTrader |
$0 |
Bank fees apply |
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Islamic |
$0 |
Bank fees apply |
Conclusion
IC Markets is a globally recognized Forex broker offering Indian traders access to advanced trading platforms, tight spreads, and institutional-grade liquidity. While it does not hold a SEBI license, it operates under reputable international regulators such as ASIC, CySEC, and FSA, ensuring a secure and transparent trading environment.
The broker allows Indian traders to participate in global Forex markets through its internationally regulated entities. It offers MetaTrader 4, MetaTrader 5, TradingView, and cTrader, providing a seamless trading experience with ECN execution and competitive pricing.
FAQs
Is IC Markets legal in India?
Yes. IC Markets operates legally in India. The broker holds the necessary licenses.
Can you learn trading with IC Markets? Does the broker offer courses for traders from India?
Yes, IC Markets offers good trading courses and a lot of educational information for clients from India.
Can IC Markets be trusted? Has the broker been operating in India long?
IC Markets has been operating in India quite long and has a good reputation. Therefore, traders can work with IC Markets.
Is IC Markets suitable for novice traders from India?
Yes. IC Markets offers optimal trading conditions and good education for beginners from India.
How efficient is IC Markets customer support in India?
IC Markets offers a sufficient number of ways to contact customer support in India, and also provides support in the state language.
Has IC Markets had any incidents involving theft of funds of clients from India?
No. IC Markets provides reliable security of funds of clients from India.
Will I be able to file a lawsuit in India if IC Markets violates my rights?
Yes. If IC Markets violates your rights, you can file a complaint with the regulator of India, and then with a court.
Can IC Markets clients from India use the broker’s mobile app?
Yes. The mobile app of IC Markets is available for the clients from India.
Does IC Markets provide India market analysis?
Analysis of India is featured in the information provided by IC Markets.
How can I withdraw funds from my account at IC Markets in India?
IC Markets supports bank transfers and debit/credit cards of the banks operating in India.
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Team that worked on the article
Parshwa is a content expert and finance professional possessing deep knowledge of stock and options trading, technical and fundamental analysis, and equity research. As a Chartered Accountant Finalist, Parshwa also has expertise in Forex, crypto trading, and personal taxation. His experience is showcased by a prolific body of over 100 articles on Forex, crypto, equity, and personal finance, alongside personalized advisory roles in tax consultation.
Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.
As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).