IC Markets - your thoughts on this broker

I think that some people who "trade" CFD's by betting against counterparty market-makers have become so used to appalling customer service, maybe without quite appreciating what a "broker" really is, that they accept all kinds of grossly unreasonable restrictions as "normal," without quite appreciating that they could do much better elsewhere.

It's really quite a widespread "syndrome" among forex traders whose experiences of financial services and the worlds of trading and investing are - through no fault of their own - very limited. It's also a significantly under-discussed issue, in trading forums, IMO.

Yes, so one has to constantly compare brokers to discover.

I had a different experience with this broker. It does not work properly on some Expert Advisors in a standard way, and unfortunately it was not good in this regard.

has anyone received an email regarding a class action suite against IC ?

[quote=Spearion;15431665]has anyone received an email regarding a class action suite against IC ?[/quote

Yes I received an email also......

I also have received such an email.
"IMPORTANT: Class Action against IC Markets"
I have no idea regarding the legitimacy, but on the PDF, they did assure me that it wasn't a scam (which made me think it was a scam). But they did know my client ID, so I'm not sure.

I got it too; I seem to remember registering for it or confirming it about a year ago.

Anyway, don't do anything, and you are included, it is opted out as it says, and no one should do that.

I was in a class action against Suncorp for years, you only get an email about once a year and received $1,600 for that.

Banks and superannuation brokers are the worst scammers ever!

I know that's not subject of your message but I never get criticism of IC Markets, most competitive spreads fast 7ms response, only had one issue with a withdrawal once and that was delayed by a day, loads of communication. Complained once about an order and ctrader crashing, was refunded immediately. 3 years 10/10 for me

Recently I noticed a withdraw problem with IC Markets, one of the largest retail Spot Forex broker worldwide. They are delaying with no logical arguments withdraws from 1 day to 1 week and more. They asked me same compliance questions they have done several months ago, which were successfully answered and completed and confirmed from their site. So there is no argument to come up again and again with the same questions just to hold back your money for weeks. I did notice that kind of behavior 1 year ago or prior. This is something new and shocking I find, as it remembers me on Refco, MF Global, PFGBest and FXCM (most prominent in the retail FX space). It suggest you take out substantial parts of your money from IC Markets, as it can get difficult more and more over time. I have found several complaints recently about the withdraw process below. So I am not alone. Especially you will notice this rather sooner than later if you make quick larger profits in short period of time and want to withdraw that money.

It took me more than 1 week to get my money back I wanted to withdraw and surprisingly they asked me questions which had been answered many months ago regarding compliance just to delay the withdraw process. I do get concerns now whether my funds are safe with IC Markets or not. The recent development is very concerning. I have withdrawn everything now and I am thinking over never to come back to IC Markets.

Anyone made similar experiences here ?

I also have seen unusual spreads widening on floating spreads on no news. From 5 points to 30 points in seconds back and forth, which questions me also what is going to happen with their liquidity ? That kind of fluctuations did not happen in the past that much and that often during no news and London hours trading times.

I traded 2 years with IC Markets Seychelles (Raw Trading Ltd – SD018 license).
Total loss: –18 000 €.
Then on 12 November 2025 at 16:26 GMT+2 the server ICMarketsSC-MT5-2 froze and triggered a **fake margin call** while I still had >50 % free margin. All positions were closed automatically and my balance went to –753.83 € negative.

Log MT5: “authorization failed – service not available”.

Exact timeline:

13 Nov – they reset balance to 0.00 € and admitted compensation of 1 767 €
21, 24 and 25 Nov – four identical NDAs sent (same copy-paste text) to silence me forever and forbid posting on FPA or social media
25 Nov 16:08 – account suspended “for security reasons” – no explanation
25 Nov 14:41 – I refused the NDA and gave a deadline
26 Nov – they credited 2 000 € without NDA, enabled withdrawal, then permanently closed account 7105204 the same night at 23:59.

Exact NDA text received 4 times:

“I acknowledge and accept that after receiving the proposed resolution I will not pursue any further action against the Company nor submit or escalate this matter to any competent regulatory authority. I confirm that I will maintain strict confidentiality regarding this matter and will not publish, disclose or comment on it on social media platforms.”

My exact reply on 25 Nov 14:41:

“2000 € net before 17h or FPA thread + videos online. Nothing to sign.”

I got the 2 000 € only because I threatened public exposure.
Without that pressure they would have forced the NDA or kept the money.

Fake margin call, blackmail to silence, abusive suspension, punitive account closure – all legal in Seychelles, but unethical.

Even after getting my money back, I am filing an official complaint with FSA Seychelles and reporting the case to AMF France for gag-order practices.

RUN from IC Markets Seychelles.

Account 7105204 – closed 26/11/2025

A win is a win right, might take another look at them, GO Market spreads are ridiculous, 1-hour into new day and NZDJPY is still 14 pips

I'm thinking of switching from XM to IC Markets. How are their withdrawals for Indian traders? Any issues? Thanks.

I’ve heard similar feedback about IC Markets especially from scalpers and day traders who care about tight spreads. From what I’ve seen, their raw pricing and execution tend to be quite clean compared to a lot of other brokers, which is obviously important if you’re trading short timeframes and trying to avoid cost bleed.
Obviously every trader’s experience can vary based on account type, asset, and market conditions, but many in the community seem to feel that their spreads/fees are competitive without weird pricing behavior. Worth doing some small tests on your own timeframes to see how it behaves for you live before fully committing.

IC Markets is generally reliable and well-regulated, offering tight spreads and fast execution. But any withdrawal issues are a serious red flag. Always choose brokers with clear policies, strong regulation, and transparent practices to keep your funds safe.

IC Markets, along with Saxo and Fusion Markets, are the cheapest brokers for forex trading. IC Markets has very few negative reviews on Trustpilot, which is rare among forex brokers you can check it out

Looking for opinions from anyone here who has traded gold with IC Markets.
I had a sell stop on XAUUSD triggered on icmarketsc-mt5-6 by a sudden Bid gap, and the fill looked like a 30+ pip outlier compared with another IC Markets live server and other live feeds.
IC said price differences can happen across servers because of load and LP differences, and they offered a goodwill adjustment for the loss and commission.
The trade would have closed in profit on the other feeds, roughly around 3x the loss, but I understand missed profit is harder to argue for.
Mainly wondering whether people here would consider that kind of LP-specific gold tick normal, and whether you’d just accept the adjustment and move on.

Ic market server showing the spike
https://preview.redd.it/ic-markets-x...d1f7062b4f1e90
Same timestamp on another IC Markets live server:
https://preview.redd.it/ic-markets-x...b95bbd6a6d48a4
Comparison feed showing no matching spike:

https://preview.redd.it/ic-markets-x...96a55a2ac51fa1

I believed in this until I stupidly left a position open over the weekend and ended up with a negative balance. IC used to reset the negative balance but they don't anymore... so, I'm back with my first broker and now I am actually profitable over the last two months! It was a blessing in disguise for IC Markets to say no to taking my money