BrokerSafari Evidence Score
This is an evidence-based editorial calculation, not a guarantee of safety, an account test or an investment recommendation. It uses only the structured research recorded for this broker, never another website’s rating.
| BrokerSafari Evidence Score | 8.1 / 10 — Strong |
|---|---|
| Evidence confidence | medium |
| Evidence coverage | 78.5% |
| Assessed quality score | 8.1 / 10 |
| Evidence-gap penalty | 0.0 |
| Score before caps | 8.1 / 10 |
| Calculated score after caps | 8.1 / 10 |
| Regulation & Legal Entity | Weight 30%; coverage 66.7% (2/3 inputs). Quality 8.3 / 10; 24.9 / 30 weighted points before normalization and penalties. |
|---|---|
| Safety & Client Protection | Weight 20%; coverage 75% (3/4 inputs). Quality 8.0 / 10; 16 / 20 weighted points before normalization and penalties. |
| Transparency | Weight 15%; coverage 100% (4/4 inputs). Quality 8.3 / 10; 12.5 / 15 weighted points before normalization and penalties. |
| Fees & Trading Costs | Weight 10%; coverage 100% (4/4 inputs). Quality 8.3 / 10; 8.3 / 10 weighted points before normalization and penalties. |
| Deposits & Withdrawals | Weight 10%; coverage 60% (3/5 inputs). Quality 7.5 / 10; 7.5 / 10 weighted points before normalization and penalties. |
| Trading Platform & Products | Weight 10%; coverage 100% (4/4 inputs). Quality 7.9 / 10; 7.9 / 10 weighted points before normalization and penalties. |
| Track Record & Independent Evidence | Weight 5%; coverage 50% (1/2 inputs). Quality 8.0 / 10; 4 / 5 weighted points before normalization and penalties. |
Quality uses only assessable inputs. Entirely unassessed categories are excluded and remaining category weights are normalized; missing evidence is not zero quality. Coverage separately measures assessed input weight out of 100%. A gap penalty of 0.0, 0.3, 0.7 or 1.2 is applied before regulatory caps. Source strength affects confidence, not a direct multiplication of the quality score.
Rating cap
None.
Why this score?
Verified strengths
- Regulation & Legal Entity — Account-serving legal entity: partially verified. Partial verification only; unresolved scope remains an evidence gap.
- Regulation & Legal Entity — Relevant financial regulation: partially verified. Only the documented relevant entity/permission is verified, not every group licence or account.
- Trading Platform & Products — Platform identity and clarity: partially verified. Partial verification only; unresolved scope remains an evidence gap.
Provider-disclosed evidence
- Safety & Client Protection — Client-money segregation: disclosed.
- Safety & Client Protection — Negative-balance protection: partial. Conditional protection is disclosed; account-specific independent verification is not established.
- Safety & Client Protection — Investor-protection coverage: partial. Partial coverage is disclosed; independent account eligibility is not established.
- Transparency — Company transparency: medium.
- Transparency — Legal-document transparency: high.
- Transparency — Regulatory-disclosure transparency: high.
- Transparency — Contact transparency: medium.
- Fees & Trading Costs — Spread transparency: high.
- Fees & Trading Costs — Commission transparency: high.
- Fees & Trading Costs — Overnight-fee transparency: medium.
- Fees & Trading Costs — Live trading-cost testing/corroboration: provider disclosed only.
- Deposits & Withdrawals — Deposit and withdrawal fee transparency: medium.
- Deposits & Withdrawals — Payment-method transparency: medium.
- Deposits & Withdrawals — Withdrawal-term transparency: medium.
- Trading Platform & Products — Mobile availability: disclosed.
- Trading Platform & Products — Trading-product transparency: medium.
- Trading Platform & Products — Platform testing: provider disclosed only.
Supplementary independent evidence
- Track Record & Independent Evidence — Independent-source documentation: medium.
Evidence gaps
- Regulation & Legal Entity — Regulatory warnings and enforcement: unassessed.
- Safety & Client Protection — Security controls: unassessed.
- Deposits & Withdrawals — Independent withdrawal testing/corroboration: unassessed.
- Deposits & Withdrawals — Verified withdrawal findings: unassessed.
- Track Record & Independent Evidence — Operating history: unassessed.
- A relevant entity/regulator relationship is verified; other group licences and account-specific coverage remain unresolved.
Verified concerns
No verified adverse finding is recorded in these inputs. This is not a clean bill of health or continuous monitoring.
Broker Overview
IC Markets is a trading brand used by companies serving different markets. Its EU website identifies IC Markets (EU) Ltd as a Cyprus Investment Firm; the CySEC register lists that entity under licence 362/18. Separate global pages identify International Capital Markets Pty Ltd and Raw Trading Ltd. These names and licence disclosures should be considered individually, not merged into one universal authorization.
The provider’s EU product pages describe CFD access across forex, indices, commodities and shares, with account and platform choices that may differ from those on the global site. The company’s website also uses terms such as “raw spread.” That phrase describes a pricing model, not a promise that spreads will remain at zero or that trading is commission-free.
This review is based on public sources. We did not create an account, measure spreads or slippage, test order execution, contact customer service or send a withdrawal. Any figures shown on the provider’s website are subject to change and apply only to the stated entity, account and instrument.
Source: IC Markets EU — legal documents and entity disclosure · Last Checked:
Source: IC Markets Global — legal documents · Last Checked:
Regulation
CySEC’s public register lists IC Markets (EU) Ltd, licence 362/18, company registration 356877 and approved domains. The register identifies the specific EU company; it does not extend this licence to Raw Trading Ltd, International Capital Markets Pty Ltd or customers of other group companies. We have not independently validated each global licence in this review.
The EU provider page says the entity is authorized and regulated by CySEC and links to its disclosure documents. For a customer, the signed agreement is essential: it identifies the contracting company, applicable regulator, client classification, complaint route and any investor-compensation eligibility. A brand-wide “regulated” statement cannot answer those questions.
We did not complete an exhaustive warning or enforcement search across all relevant authorities. The regulatory-warning field is therefore unknown, not a claim that no historical or current action exists.
Source: CySEC — IC Markets (EU) Ltd register entry · Last Checked:
Source: IC Markets EU — regulation disclosure · Last Checked:
Legal Entities
The EU entity is independently matched to CySEC’s register. The Australian and Seychelles companies are listed by the provider but are not treated as independently verified regulator records in this article. Those are materially different evidence levels.
| IC Markets (EU) Ltd | Cyprus. CySEC register entry identifies the entity, licence 362/18 and registration number 356877. |
|---|---|
| International Capital Markets Pty Ltd | Australia. Named on IC Markets’ global website as an Australian company; current ASIC permissions were not independently checked in this review. |
| Raw Trading Ltd | Seychelles. Named in IC Markets Global legal documents; the identifier and current FSA permissions remain provider-disclosed here. |
Source: CySEC — EU legal entity · Last Checked:
Source: IC Markets Global — provider-disclosed entity documents · Last Checked:
License Information
IC Markets (EU) Ltd
Authority: Cyprus Securities and Exchange Commission (CySEC) (Cyprus). Licence identifier: CySEC licence 362/18.
Evidence status: CySEC’s entity page lists IC Markets (EU) Ltd, licence 362/18, with company registration number 356877 and approved domains. Permission scope should be checked directly on the live register.
Source: CySEC — IC Markets (EU) Ltd · Last Checked:
For the Cypriot investment firm, use the live CySEC record to confirm current status, services and approved domains. For accounts offered outside the EU, use the matching local register and the terms for the entity named in the application. A number printed on a website is not, on its own, evidence of permission for every product or customer.
Company Information
| Brand | IC Markets |
|---|---|
| Cyprus entity | IC Markets (EU) Ltd; CySEC company registration 356877. |
| EU registered address | 86 Franklinou Roosvelt, 4th floor, Office 401, 3011 Omonoia, Limassol, Cyprus, as shown by CySEC. |
| Australian / global entities | Separate companies are identified in official IC Markets Global materials; permissions not independently confirmed here. |
| Parent ownership and group audited accounts | Not assessed from the sources checked. |
Source: CySEC — entity details · Last Checked:
Source: IC Markets Global — legal documents · Last Checked:
Trading Platforms
IC Markets’ EU pages list MetaTrader 4 and MetaTrader 5. Its global platform page also lists cTrader and TradingView. The available platform depends on the entity, country, account type and product. A platform being named on one regional site does not guarantee access through another legal company.
The provider describes desktop, browser and mobile options and supplies platform-specific account information. This is not independent usability testing. We did not inspect market-data delays, price feeds, order routing, server resilience, mobile accessibility, or the availability of automated strategies.
Source: IC Markets EU — account overview · Last Checked:
Source: IC Markets Global — platforms · Last Checked:
Trading Products
The EU range-of-markets page describes CFDs on indices, commodities and shares, in addition to forex and other instruments. It cites product-specific leverage and platform availability in its instrument descriptions. These are derivatives, not direct ownership of shares or commodities.
A contract list, trading hours, margin level and financing method can change by product and entity. Check the instrument specification in the account that would serve you. We do not treat the global site’s product count as independently audited or assume every product is available to an EU customer.
Source: IC Markets EU — range of markets · Last Checked:
Trading Conditions
| Standard account | Provider account overview describes spread-based pricing without a separate per-lot commission for the listed forex CFD model. |
|---|---|
| Raw Spread account | Provider describes spreads from 0.0 pips and a commission; the rate varies by platform and currency. |
| Leverage | EU materials cite retail limits and product-specific values; a single global figure would be misleading. |
| Minimum deposit | The EU account overview says no minimum deposit; payment-method and onboarding restrictions still apply. |
| Execution | The company makes execution and liquidity statements; BrokerSafari did not conduct order testing. |
| Account currencies / eligibility | Confirm in the local application and legal agreement. |
Raw accounts should be compared on an all-in basis. A narrow spread can be paired with commission per side, and holding a leveraged position may add financing. Account choice should be based on the instruments and expected trading behavior, not on a headline spread alone.
Source: IC Markets EU — account comparison · Last Checked:
Source: IC Markets EU — product conditions · Last Checked:
Fees
IC Markets’ official EU account overview shows spread-from figures and commission for its Raw Spread accounts. For the listed MetaTrader Raw Spread model, the page states a commission of $3.50 per lot per side; cTrader has a different calculation. Values are entity- and account-specific and may be converted into the account’s base currency.
The Standard account page presents a spread-based model without a separate commission for the described instruments. That does not mean costs are absent: spread, overnight financing, currency conversion and possible third-party payment charges remain relevant. Instrument-specific specifications and a live account’s order ticket take precedence over general marketing pages.
No real-time spread sampling or independent fee comparison was performed. We therefore report the provider’s disclosed pricing structure, not an estimate of what a typical customer will pay. Ask the provider for the current schedule for the precise entity and instrument you plan to trade.
Source: IC Markets EU — published account fees · Last Checked:
Source: IC Markets EU — market specifications · Last Checked:
Deposit & Withdrawal
IC Markets publishes funding and withdrawal instructions. Its EU account materials state that there are no fees for bank transfers and cards in the displayed account comparison, while the global withdrawal page describes method-specific processing rules. Payment rails, currencies and charges can differ between regions and third-party providers.
The global withdrawal page says that amounts above the total deposited by a particular card route may need to be returned through a previously used payment method or bank wire. This is a provider-described anti-fraud/payment rule, not an independent finding about withdrawal quality. Check the terms applicable to your own account, including identity verification and source-of-funds requirements.
We did not make a deposit or withdrawal and cannot verify speed, success rate, exchange-rate treatment or support escalation. Do not rely on an advertised processing time as a guarantee.
Source: IC Markets Global — withdrawal instructions · Last Checked:
Source: IC Markets EU — funding and fee information · Last Checked:
Research Summary
The principal independent source is CySEC’s entity record for IC Markets (EU) Ltd. Provider sources include the EU legal documents and regulation page, account comparison, market range and global platform/withdrawal pages. The geographic mismatch between some global pages and EU pages is retained rather than silently collapsed into one set of terms.
The review does not establish customer outcomes, execution quality, withdrawals, current permissions for all group companies or suitability. A regulator record confirms a named entity relationship; provider content explains what the company says it offers. Neither source type should be mistaken for personal advice.
The Evidence Score is generated from structured evidence fields, not from an external broker rating. Unknown details are left unassessed. No score is manually selected or targeted.
Source: CySEC — primary entity record · Last Checked:
Source: IC Markets EU — legal disclosure · Last Checked:
Safety / Regulation Analysis
CySEC’s listing is useful for matching the EU entity to a regulator record. It does not certify all products or remove investment risk. The separate International Capital Markets Pty Ltd and Raw Trading Ltd disclosures require separate register checks and do not inherit the EU entity’s permissions.
IC Markets EU says client money is held in segregated accounts under its EU rules and publishes an Investor Compensation Fund policy. The policy has eligibility categories and exclusions; it is not a universal promise of reimbursement. We did not verify an account’s eligibility or find an official negative-balance-protection statement for the account type reviewed.
No exhaustive cross-regulator enforcement or warning review was performed. Regulatory-warning status is unknown in the Evidence Score. Before onboarding, search the official regulator register using the exact company name and number from the agreement and check clone notices.
CFDs are leveraged products and can lead to rapid losses. A narrow advertised spread or regulated entity does not establish that the product is suitable for you. This page is educational research, not financial advice.
Source: CySEC — IC Markets (EU) Ltd · Last Checked:
Source: IC Markets EU — client terms and risk disclosures · Last Checked:
Source: IC Markets EU — client-money disclosure · Last Checked:
Source: IC Markets EU — Investor Compensation Fund policy · Last Checked:
What We Could Verify
CySEC’s register page identifies IC Markets (EU) Ltd, its licence number and company registration number. The official EU site identifies the same entity and provides account and product documents. The Global site names separate companies and has distinct legal documents; those disclosures are not treated as regulator verification.
We could describe account types and selected pricing from the public EU account overview, but could not verify a customer’s actual quote, account eligibility or exact withdrawal conditions without an account and jurisdiction.
Information Still Unclear
- Which entity would contract with a reader outside the EU and what regulator permissions apply to that entity.
- Whether every product or platform listed on the Global site is offered to a specific country.
- Actual spreads, financing, conversion costs and slippage for a future order.
- Representative withdrawal outcomes, live support response and current enforcement status across all group companies.
Evidence Reviewed
The cited pages were checked on 20 October 2026. The review date records when we read these sources; it is not ongoing monitoring or an assurance that their content will remain unchanged.
Source: CySEC — IC Markets (EU) Ltd · Last Checked:
Source: IC Markets EU — legal documents · Last Checked:
Source: IC Markets EU — account overview · Last Checked:
Source: IC Markets EU — markets · Last Checked:
Source: IC Markets Global — withdrawal · Last Checked:
How to Continue Your Research
FAQ
CySEC’s official register lists IC Markets (EU) Ltd under licence 362/18. That is evidence for this named Cyprus entity only. Other IC Markets companies serve other regions, and their current permissions should be checked separately on the relevant regulator register.