| Updated: February 6, 2025Account Types at IC Markets
As different traders have different trading goals, IC Markets makes sure that each of its clients will have the perfect account option to match their preferences. In addition to a Demo account, which is instantly available upon completing your registration with the broker, IC Markets also offers three account types to its retail customers. These include Standard and two variations of Raw Spread accounts.
The Standard account allows traders to utilize the MT4 and MT5 platforms, facilitating smooth trading, suitable for less experienced traders. The minimum spread on major forex pairs traded with the Standard account is 0.8 pips and there is no commission attached to one’s trades. Traders can also opt for trading on the MT4 or MT5 platforms with Raw Spread Accounts, which will offer tighter spreads from 0.0 pips and a low roundtrip commission of $7. The MetaTrader Raw Spread account is mostly suitable for scalpers and traders resorting to algorithmic trading with EAs.
There is also a cTrader Raw Spread Account option, which also offers tighter spreads from 0.0 pips but the roundtrip commission is even lower, applying a surcharge of only $6 per standard lot traded.
All three account options mentioned above offer a maximum leverage of up to 1:30 on major forex pairs. If you want to increase the leverage ratio, you can open a professional account with IC Markets. Keep in mind, however, that you will need to meet certain criteria to be eligible for professional trading.
| Demo Account |  |
| Islamic Account | |
| ECN Account |  |
| Pro Account | |
| MAM Account | |
Minimum Account Deposit Requirement
If you decide to open a live trading account with IC Markets, no matter the type of account you choose, you will need to deposit at least $200 to activate your account. While some brokers impose no specific minimum, we believe $200 is still a reasonable minimum amount for traders. We should also mention that all three account types support micro lots, meaning the smallest trade size one can place is 0.01 lots, which represents 1,000 units in your chosen base currency.
While $200 is the required minimum deposit for all three account types at IC Markets, to be able to place an order, you need at least $1,000 in your balance. Conveniently enough, the broker supports quite a few reliable payment solutions that can help you fund your account in a fast and hassle-free manner.
Tradable Instruments
The great thing about the account choices at IC Markets is that they all allow trading more than 2,250 CFD instruments. No matter the platform you choose, you can get great market exposure, with markets like Forex, Commodities, Indices, Cryptocurrencies, Stocks, Futures, and Bonds all being covered by IC Markets. Trading CFDs allows you to speculate on the price movement of thousands of assets, without gaining any ownership over them. Instead, by taking either short or long positions, you can profit from decreasing or increasing prices of the underlying assets.
Traders who join IC Markets for Forex trading will have the chance to trade more than 61 currency pairs, which include major, minor, and exotic Forex tickers. Leverage trading also allows bigger exposure, potentially making trades even more profitable.
Registration Process – Takes about 5 minutes (for Demo trading)
If you are ready to join IC Markets and would like to simply take a look at the available markets, platforms, and overall trading conditions, you can start by quickly creating your IC Markets profile. The registration process allows you to open your Demo account within a couple of minutes.
Load the registration page by clicking on the Start Trading link or the Open an Account button on the home page of the broker.
Provide some personal details required for your IC Markets profile and proceed to the next step once you are done.
Choose an account type depending on whether you plan on trading as an individual, an entity, or a member of a joint account. Provide some additional personal details for your account.
Set up your trading account options, selecting a platform, account type, and base currency.
Review your personal details before you proceed with the registration process. Pick a security question and provide an answer. Make sure to remember the answer you have entered as you may be asked in the future to provide it to verify your identity. Read the Terms and Conditions and other relevant policies provided by the broker. Proceed with the registration after you have agreed to the documents provided by the broker.
After submitting your registration application, you will be asked to check your email in order to continue the registration process. If you click on the link sent to your email by IC Markets, you will be asked to select a password for your account.
Once you have chosen a password for your account, you will be ready to start strading with a demo account at IC Markets.
Account Verification – Takes About 10 minutes
While trading with a Demo account is possible right after creating your IC Markets profile, trading with a Wallet Account requires verifying your account. While this process asks traders to go through a few additional steps, if they follow the instructions we have provided below the account verification can be done in no time.
The first step is to provide information about your employment status and your level of trading knowledge. Financial information is also required to ensure you can afford trading and can handle any potential risks linked to trading with the broker.
The next step of IC Markets Appropriateness Assessment is completing a knowledge quiz, which will determine whether trading is suitable for you or if you need some additional education on the specifics of trading and any related risk. You can see the questions you may be asked below:
Once you pass the Knowledge and Experience questionnaire, you will be asked to proceed to the final step of the account verification process, which will ask for photos of your ID card, passport, or driver’s license. Additionally, you will need to upload a document, which will serve as proof of your residence.
Overall Thoughts
If you are trying to sign up with IC Markets and start trading with a Demo account so you can practice trading, you will be able to do that within a couple of minutes. Keep in mind that you need to provide some personal details and confirm your email address before you can finalize the account registration process. Going live with your trades will require completing an account verification process. This may take a bit longer as you will be asked to provide information about your employment, finances, and experience with trading. The final step requires copies of an ID document as well as a receipt or another type of document providing proof of your residence. While somewhat time-consuming, these steps are standard for any reputable broker following strict regulatory guidelines.