IC Markets
Is IC Markets Safe and Regulated? Licences, Protection and Risks
IC Markets is a genuine broker licensed in Australia, Cyprus, Seychelles, the Bahamas and Kenya. Most international clients join its Seychelles company, though, where protection is thinner. Here is what each licence means for you.
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Yes, IC Markets is a legitimate, regulated broker. Its group holds licences from ASIC in Australia, CySEC in Cyprus, the Financial Services Authority in Seychelles, the Securities Commission of the Bahamas and the Capital Markets Authority in Kenya, and its Australian licence has been current since July 2009. The honest answer to "is it safe?" depends on which of those companies holds your account, and for most readers outside Australia and the EU that is the Seychelles one.
IC's brand has changed too. IC Markets now trades as IC, and on 11 July 2026 its global website moved from icmarkets.com to ic.com. IC's announcement says the products, services and trading conditions stayed exactly the same. The legal companies and licences didn't change either.
| Brand | IC (formerly IC Markets); website ic.com since 11 July 2026 |
|---|---|
| Global company | Raw Trading Ltd, FSA Seychelles licence SD018 |
| Onshore licences | ASIC (AFSL 335692) and CySEC (362/18) |
| Client money | Segregated accounts at top-tier banks |
| Insurance (global company) | Up to US$1,000,000 per client, policy TT2602110 |
| Negative balance protection | Not guaranteed at the global company |
IC Markets licences, company by company
Each IC company is a separate legal business with its own regulator. We checked every licence on the regulator's own register or official list.
| Company | Regulator | Licence | Who it serves |
|---|---|---|---|
| Raw Trading Ltd (trading as IC and IC Markets Global) | Financial Services Authority, Seychelles | Securities Dealer SD018 | Most international clients (ic.com) |
| International Capital Markets Pty Ltd | ASIC, Australia | AFSL 335692, current since 2 July 2009 | Australian clients |
| IC Markets (EU) Ltd | CySEC, Cyprus | 362/18, authorised 25 June 2018 | Clients in the EU |
| IC Markets Ltd | Securities Commission of the Bahamas | SIA-F214 | Clients of the Bahamas company |
| IC Markets (KE) Ltd | Capital Markets Authority, Kenya | Licence 199 | Kenyan clients |
You can confirm these yourself: the ASIC register for 335692, CySEC's list of investment firms for 362/18, and the FSA's regulated entities list for Raw Trading Ltd.
Why the company on your agreement matters
Regulators protect the clients of the companies they license, under their own rules. An Australian or EU retail client gets leverage capped at 30:1 on major pairs and the full weight of an onshore regulator. A client of Raw Trading Ltd gets leverage of up to 1:5000, a deposit bonus in some countries, and the lighter rules of an offshore supervisor.
| Global (FSA Seychelles) | Australia (ASIC) | EU (CySEC) | |
|---|---|---|---|
| Max leverage, major pairs | 1:5000 (tiered) | 1:30 for retail clients | 1:30 for retail clients |
| Minimum deposit | $0 | $200 | Check the EU site |
| Deposit bonus | Offered in eligible countries | No | No (EU rules ban incentives) |
| Extra cover | IC's private insurance, up to US$1,000,000 | Check the Australian company's disclosure documents | Cyprus Investor Compensation Fund covers CySEC firms |
The global company's own risk warning says losses "may exceed the amount you have deposited". Read that line on ic.com before you trade with high leverage.
How IC protects client money
IC says it holds client money in segregated accounts with top-tier international banks, spread across several banks to reduce the risk from any one of them. Its global company adds a client money insurance policy of up to US$1,000,000, which IC says covers funds and open CFD positions if the company stops operating for financial reasons, with no opt-in and no cost. It publishes the policy number, TT2602110, so you can check it.
There are also limits worth knowing. IC doesn't pay interest on balances. Its Help Centre says it will try to close positions when your margin level falls to 50%, but it can't guarantee your account won't go negative, and if it does, "you will bear the negative consequences". Weekend gaps and thin holiday markets are the usual cause.
How IC executes your trades
IC acts as principal to every trade: it is your counterparty, as with all CFD providers. It describes its model as ECN pricing: prices streamed from more than 25 external liquidity providers with no dealing desk. IC also says it doesn't offset every single position with those providers, which is normal in the industry but worth understanding, because it means some of your trades are held on IC's own book.
IC Markets' regulatory record
No broker of IC's size has a spotless record, and two matters stand out.
- CySEC fines, 2024. On 1 July 2024 CySEC's board fined IC Markets (EU) Ltd €200,000 for taking part in activities that circumvented the initial margin protection rules for retail CFD clients, and €50,000 for best-execution failures, inadequate execution arrangements and unclear cost disclosures. The company has applied for judicial review of both decisions.
- FCA warning. The UK Financial Conduct Authority's Warning List includes IC Markets Global, first published on 1 October 2024 and updated on 10 August 2026 to name ic.com. It says the firm is not authorised by the FCA and may be targeting people in the UK. That entry concerns UK permission; it is not a finding of fraud.
Criminals clone IC's name and website. IC's scam guidance warns about fake account managers and look-alike sites. Only use ic.com, the official apps and the Client Area, and never pay anyone who contacts you offering to trade for you. Check any unfamiliar name against our scam broker list.
How to check IC for yourself in five minutes
- Open the legal footer on the site you are signing up through and note the company name and licence number.
- Search that number on the regulator's own register, using the links above.
- Read the first page of your client agreement: it names the company that will hold your account.
- Check the website address: IC's global site is ic.com, and icmarkets.com now redirects there.
- Make a small withdrawal early to confirm money comes back the way it went in.
So, is IC Markets safe for you?
As a business, IC is genuine, long-established and licensed by serious regulators, with transparent pricing and published policies on money handling. For an Australian or EU resident, trading with IC's local company gives you onshore protection. Most other traders have their account with the Seychelles company, and your safety net is IC's own conduct, segregated funds and a private insurance policy rather than a public compensation scheme.
That can be a reasonable trade-off for an experienced trader who keeps only risk capital there. It is a poor fit for anyone who wants strong regulatory protection. Our IC Markets leverage guide covers the other big difference between the companies.
Licences are not all equal, and a broker with five of them still places you with one. Find that company's name on your agreement, look it up on the regulator's register, and then decide how much money you are comfortable keeping there.
Camila shortlisted IC after reading that it was "ASIC regulated". Before funding, she opened the legal footer on ic.com and saw Raw Trading Ltd, Seychelles. She checked the FSA's list, confirmed the licence, and read the risk warning about losses exceeding deposits. Camila kept the account, but capped her balance at the amount she could afford to lose, set leverage to 1:100, and withdraws profits every month.
Frequently asked
Is IC Markets regulated?
Yes. IC's group companies are licensed by ASIC in Australia (335692), CySEC in Cyprus (362/18), the FSA in Seychelles (SD018), the Securities Commission of the Bahamas (SIA-F214) and the CMA in Kenya (199). Most international clients join Raw Trading Ltd, the Seychelles company.
Is IC Markets a scam?
No. IC is a genuine, licensed broker whose Australian licence has been current since 2009. Scammers do clone its name and website, so only use ic.com and the official apps, and never deal with anyone who contacts you offering to manage your account.
Is IC Markets the same as IC?
Yes. IC Markets rebranded to IC, and its global website moved from icmarkets.com to ic.com on 11 July 2026. IC says its products, services and trading conditions stayed the same, and the licensed companies are unchanged.
Does IC Markets have negative balance protection?
Not as a guarantee at its global company. IC's Help Centre says it tries to close positions at a 50% margin level but can't guarantee an account won't go negative, and that clients bear the consequences. EU and Australian retail rules differ.
Is my money insured at IC Markets?
IC says clients of its global company are covered by client money insurance of up to US$1,000,000, including open CFD positions, under policy TT2602110, if the company stops operating for financial reasons. Funds are also held in segregated bank accounts.
Has IC Markets been fined?
Yes. On 1 July 2024 CySEC fined IC Markets (EU) Ltd €200,000 over circumventing retail margin protection rules and €50,000 over best execution and cost disclosure. The company has applied for judicial review of both decisions.
Is IC Markets regulated by the FCA?
No. The FCA's Warning List includes IC Markets Global, naming ic.com, and says the firm is not authorised by the FCA. That entry was first published on 1 October 2024 and updated on 10 August 2026.
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