Is IC Markets Regulated in Iran? Is it Legit? - TU Expert review
IC Markets is a regulated Forex broker supervised by financial authorities in. The broker adheres to the standards established by its regulators, ensuring a secure and transparent trading environment. IC Markets countries of regulation:
| Regulator | Full name | Country |
|---|---|---|
| CySec | Cyprus Securities and Exchange Commission | Cyprus |
| ASIC | Australian Securities and Investments Commission | Australia |
| FSA (Seychelles) | Financial Services Authority of Seychelles | Seychelles |
| The Financial Commission | The Financial Commission | International |
Is IC Markets regulated in Iran? Broker’s license
Security (Protection for Investors)
IC Markets includes three legal entities registered in Australia, EU, and Seychelles. They are licensed by local ASIC (ACN: 123 289 109), CySEC (362/18), and FSA (SD018) regulators, respectively. Also, since 2021, IC Markets has been a member of the Financial Commission that resolves disputes between brokers and their clients and compensates the latter with up to €20,000. CySEC has its own compensation fund ICF and pays to clients of bankrupt brokers. Availability of three licenses of key global regulators provides the company with a possibility to offer brokerage services to traders in more than 100 countries.
Moreover, IC Markets partners with Lloyds Bank (London) to cover client losses in case of its insolvency. Each trader is compensated for their account balance and amounts of all open positions, but not more than $1,000,000.
Is IC Markets safe? An Honest Review
👍 Advantages
- Rights and obligations of both the broker and the client are clearly stated in the agreement
- The broker’s clients can file official claims with regulators
- Coverage from Lloyds Bank is available
- Client funds and the company’s capital are held separately
👎 Disadvantages
- Limited leverage up to 1:30 for clients of offices regulated by ASIC and CySEC
- Negative balance protection isn’t available in all countries
Is IC Markets regulated in Iran? Broker’s license
IC Markets regulation review
| Regulator | Country | Regulation level | Investor Protection Fund |
|---|---|---|---|
|
CySec
|
Cyprus | Tier-1 | Up to €20,000 |
|
ASIC
|
Australia | Tier-1 | No specific fund but has stringent consumer protection |
|
FSA (Seychelles)
|
Seychelles | Tier-3 | No specific fund |
|
The Financial Commission
|
International | Tier-3 | Up to €20,000 |
Understanding Forex Regulation Levels
When choosing a Forex broker, their regulatory framework plays a pivotal role in ensuring trust and security. Below is an overview of the different regulatory tiers:
-
Tier-1 Regulators:
These authorities are globally recognized for their strict oversight and high compliance standards. They prioritize trader safety, financial transparency, and overall market stability. Notable examples include the FCA in the United Kingdom and ASIC in Australia. -
Tier-2 Regulators:
While not as stringent as Tier-1, these regulators enforce solid compliance protocols that provide traders with a fair degree of security and reliability. -
Tier-3 Regulators:
Often limited to simple registration processes, Tier-3 regulators operate in jurisdictions with minimal oversight. Brokers under Tier-3 regulation face fewer compliance demands, offering traders less protection.
Short summary about the broker IC Markets
IC Markets stands out as a highly reputable broker offering trading with 2,250+ instruments across Forex, stocks, commodities, cryptocurrencies, and more.
The broker provides ultra-fast execution with order speeds up to 40 milliseconds facilitated by its top-tier liquidity partners and processes over $29 billion in Forex trades daily. With a strong focus on active traders, it offers ECN accounts with raw spreads from 0 pips and leverage up to 1:500 (based on which regulator's rules apply to a trader's account). Copy trading is also well-supported through integration with ZuluTrade, cTrader Copy, and other platforms.
IC Markets clients benefit from robust security and regulatory licenses from ASIC, CySEC, and others.
| 💰 Account currency: | EUR, USD, GBP, CAD, AUD, HKD, NZD, CHF, SGD, and JPY |
| 🚀 Minimum deposit: | $200 |
| ⚖️ Leverage: | 1:500 (FSA); 1:30 (ASIC and CySEC) |
| 💱 Spread: | Standard: 0.8 pips; Raw Spread: 0 pips; |
| 🔧 Instruments: | Cryptos and Forex CFDs on indices, commodities, stocks, bonds, and futures |
| 💹 Margin Call / Stop Out: | 50%/100% |
Pros and cons of IC Markets
👍 Advantages of trading with IC Markets:
•Availability of three licenses;
•Wide range of assets;
•Standard and ECN account types for trading on different platforms;
•Mobile apps for Android and iOS-based devices;
•Scalping, hedging, and algorithmic trading are allowed;
•Minimum delay when executing orders and ultra-fast market execution;
•Competitive trading fees;
•Wide choice of social trading and copy trading platforms;
•24/7 support via live chat;
•Demo accounts on MT4, MT5, and cTrader;
•Swap-free accounts are available for Muslim traders.
👎 Disadvantages of IC Markets:
•Education materials available on the website are not very informative or diverse;
•Rebates are available outside Australia and the European Economic Area;
•Not all clients are equally protected since compensation for investment is subject to the trader's country of residence.
Why is it important for a broker to have the license in Iran?
A financial license is the key document for any broker. It confirms that the company complies with the requirements of the financial regulator and observes the law. It is important for traders to choose a broker registered their jurisdiction for the following reasons:
-
Any claim is filed at the place of the broker’s registration. Accordingly, in case any dispute arises, it will be easier for the trader to file a claim.
-
A license issued in Iran guarantees that the broker operates in compliance with the laws of this country and reports to the local regulatory authorities.
-
Traders can claim compensation under the government programs of deposit guarantees in case the broker experiences financial problems.
It is also possible to choose a broker that is not regulated in Iran. In that case, however, the company must have a license from a reliable regulator, for example of an EU country, the UK, USA, Australia, etc.
Brokers that are similar to IC Markets
In addition to IC Markets, also other brokers from this jurisdiction have the license of Iran. IC Markets has many competitors, and before you start working with this broker, you need to compare it to other companies. TU analysts have prepared a comparison of brokers that operate in the Iran market and have a license of this or another reliable jurisdiction.
Comparison of IC Markets with other Brokers
| IC Markets | Bybit | Eightcap | XM Group | Exness | Octa | |
|---|---|---|---|---|---|---|
Trading platform |
MT4, cTrader, MT5, TradingView |
MetaTrader5 |
MT4, MT5, TradingView |
MT4, MT5, MobileTrading, XM App |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MetaTrader4, MetaTrader5, OctaTrader |
Min deposit |
$200 |
No |
$100 |
$5 |
$10 |
$25 |
Leverage |
From 1:1 |
From 1:1 |
From 1:30 |
From 1:1 |
From 1:1 |
From 1:40 |
Trust management |
No |
No |
No |
No |
No |
No |
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
Spread |
From 0 points |
From 0 points |
From 0 points |
From 0.8 points |
From 0 points |
From 0.6 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution |
Market Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
No deposit bonus |
No |
No |
No |
No |
No |
No |
Cent accounts |
No |
No |
No |
No |
Yes |
No |
Is it safe to trade with IC Markets in Iran?
IC Markets is quite popular in Iran. The broker does not have a license of the local financial regulatory authority, but it is regulated in a reliable jurisdiction. Therefore, this company can be trusted. The trading conditions of IC Markets are rather beneficial compared to competitors. Accordingly, trading with this company is a good decision.
FAQ
How do I check a broker’s license?
Brokers should provide their license on their official website. It is also recommended to check it on the official website of the financial regulatory authority.
Does a broker need to have an official representative office in Iran?
Yes. According to the rules of Iran, brokers must have an office in Iran. This is a mandatory condition for obtaining the license.
Can the license issued by Iran be considered reliable protection against fraud?
Yes. The rules of the financial regulator of Iran are very strict, which makes obtaining a license in this jurisdiction extremely difficult for scammers.
What kind of information should a broker provide for traders?
On their official websites, brokers must provide the name of the managing company, r egistration certificate, legal address and internal regulatory documents.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.