Skip to main content

IC Markets South Africa

Micro lots are available for trade on all account types and, of course, the broker provides free Demo accounts, which are always appreciated by inexperienced traders.

What is more, IC Markets provides swap-free service to investors of Islamic belief, who are ready to open Sharia-compliant accounts.

Overall Rating


"The Best Forex Broker in South Africa"

Customer Support
Demo Account
Trading Platform

Forex Brokers in South Africa

Expert option logo


Demo account Yes
Minimum deposit $10
Minimum Deposit: $10
Quotex began providing services to traders in 2014 and currently executes in more than 30 million deals monthly . The brand currently boasts 9 million customer accounts.
Deriv logo


Demo account Yes
Minimum deposit $10
Minimum Deposit: $10
Deriv is an offshore broker offering both binary options and standard forex and CFD trading


Demo account Yes
Minimum deposit $ 150
Minimum deposit: $ 150
Exness is FSCA & FCA regulated, which are 2 Top Tier regulators, so we consider them to be safe.
IQ Option logo

IQ Option

Demo account Yes
Minimum deposit $10
Minimum Deposit: $10
IQ Option was first introduced to the binary options traders across the world back in 2013.
Hycm Logo


Demo account Yes
Minimum deposit $100
Minimum deposit: $100
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider
Easy Markets logo

Easy Markets

Demo account Yes
Minimum deposit $150
Minimum Deposit: $150
Easy Markets is an award-winning forex and CFDs trading platform launched in 2001 as the world’s first web-based trading platform.

IC Markets offers its clients a choice of three live account types, available on two different platforms. the quality account may be a commission-free one, and True ECN one provides tighter spreads, but a commission of $7 round turn applies.

The Company. Security of Funds

Incorporated in Sydney, Australia in 2007, IC MARKETS may be a NDD broker providing trading in additional than 80 instruments, including variety of currency pairs, various CFDs on indices, commodities and futures, also as precious metals. It also offers trading in a number of the foremost popular cryptocurrencies – Bitcoin, Litecoin, Ether, Dash and Bitcoin Cash.

The company behind the IC MARKETS brand is International Capital Markets Pty Ltd., which holds an Australian Financial Services License and is regulated by the Australian Securities and Investment Commission (ASIC).

ASIC requires licensed companies to suits various rules and to satisfy certain requirements. Clients’ money is to be kept in segregated trust accounts, separated from the companies’ operating funds. As for the minimum capital requirement, Forex brokers must hold a minimum of $ 1 million so as to prove their good financial standing and to work legitimately.

Despite the regulation and therefore the requirements set to Australian brokers, one should remember of the risks of trading on margin. Returns and gains aren’t guaranteed. ASIC, the Australian Government nor the other person guarantees any funds in your account.

We would also wish to means that unlike many EU-based brokers, Australian ones aren’t covered by any compensation scheme.

In 2008, IC Markets got a license from the Cyprus Securities and Exchange Commission (‘CySEC’) and may now offer its services thoroughout the ecu Union and therefore the EEA.

Trading Conditions

Minimum Initial Deposit

Traders are required to deposit $200 so as to open an account with IC Markets, which is a mean initial amount. as compared XM (holding, among others, also an ASIC license) demands just $5 from its clients as a start.

Average Spreads & Commissions

IC Markets offers variable spreads, the standard ones on its commission-free account amounting to 1.1, which is average. Spreads on the ECN accounts, on the opposite hand, are as low as 0.1 pips on EUR/USD on the average , involving a commission of $6/$7 per standard lot round activate the cTrader and MT4 respectively. So, trading costs of such account holders amount to only 07 – 0.8 pips, commission included, which is basically attractive, especially considering that one can open such ECN MT4 account for just 200 bucks.

In comparison, XM also offers variable spreads ranging from 0.0 pips on EUR/USD and applies commission of $5 on its Zero account, while spreads on its commission-free accounts start from 1.0 pips.

For further information, you’ll search real-time spreads of 15 leading brokers here.

Maximum Leverage

Clients of IC Markets use leverage ratios up to 1:500 and such maximum leverage rate is taken into account high. Some jurisdictions cap leverage to significantly lower levels (i.e. 1:25 in Japan), because higher leverage involves higher risk of losses in more than initial investments.

Most brokers usually offer leverage of up to 1:200 or 1:400, as an example global broker FXCM, also holding an ASIC license, provides leverage up to 1:400. Nevertheless, many brokers provide leverage ratios adequate to or exceeding 1:500.

Trading Platforms

While most brokers provide just the MT4 and/or their in-house platform, IC Markets offers its customers a choice of three popular platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader.

MT4 is that the most generally used forex platform, available to the broker’s clients as Mac, iPhone/iPad and Android versions, also as an internet Trader version. MT4 provides all the tools and resources a trader needs: variety of technical indicators, advanced charting package, wide selection of Expert Advisers (EAs) and extensive back-testing environment. EAs are especially popular among experienced users, as they permit full automatization of trades, so traders may sit back, while the software does all the work.

If you’re running EAs, it’s vital that your platform is connected to our servers 24 hours each day . the simplest solution during this case is VPS and IC Markets has partnered with Commercial Network Services, NYCServers and BeeksFX VPS, to supply a customized low latency solution for his or her clients. The VPS seamlessly connects traders to the Equinix NY4 grid using leading edge technology and providing excellent execution.

What is more, this broker provides Multi Account Manager MAM/PAMM options on MT4.

IC markets launched the MetaTrader 5 (MT5) platform in May, 2017. The MT5 sees a growing level of use recently, as MetaQuotes company tries to strengthen its presence on the market and ouphase its still more popular predecessor, the MT4.

In addition, IC Markets offers access to cTrader platform, which is custom-made to be used in ECN environment. The IC Markets cTrader suite includes a PC, web and mobile versions, also as automated trading software cAlgo.

Traders who are keen on automated trading are offered three more options with this broker: ZuluTrade, Myfxbook’s AutoTrade and Signal Trader’s unique mirroring technology.

Institutional and high-volume traders (with minimum volume of $500 million per month) also are offered FIX API choice to access market leading liquidity at affordable prices. The FIX Inside API can integrate the proprietary electronic and algorithmic client server, browser based, and mobile trading systems.

Methods of Payment

IC MARKETS offers its clients a spread of deposit/withdrawal methods: via credit/debit card, bank wire, BPAY, Neteller, Skrill, Webmoney, China UnionPay, FasaPay, PayPal and Qiwi.

What is more, this broker offers 10 flexible funding options in 10 different base currencies: AUD, USD, SGD, CHF, GBP, CAD, HKD, JPY, EUR, and NZD.


IC MARKETS may be a reliable NDD Australian broker, offering competitive conditions for trading during a wide selection of products on two platforms. To sum things up, here are the benefits and disadvantages with regards to IC MARKETS:

$ 150,00

Minimum Deposit