Many forex brokers operate exclusively online and provide services internationally, making it hard to know where a broker is licensed and authorised. Most traders are familiar with IC Markets, as it’s one of the largest forex brokers in the world. If you’re thinking about trading with this broker, you might wonder, where is IC Markets regulated. The company operates under multiple licenses, and it’s not always straightforward.
In this article, we focus on IC Markets regulation. To understand why so many traders, choose IC Markets and how it ultimately became one of the largest forex brokers, we recommend reading our complete IC Markets review.
Where is IC Markets Regulated?
A handful of financial markets regulators authorise IC Markets, and the company is regulated by:
- The Australian Securities and Investments Commission (ASIC) regulates International Capital Markets Pty.
- Cyprus Securities and Exchange Commission (CySEC) regulates IC Markets (EU) LTD.
- The Financial Services Authority Seychelles (FSA) regulates Raw Trading Ltd.
|Business Name||Regulation||Registration Number|
|IC Markets (EU) LTD||CySEC||#362/18|
|International Capital Markets Pty||ASIC||#335692|
|Raw Trading Ltd||FSA||#SD018|
Is IC Markets regulated in my country?
A forex broker doesn’t necessarily need to be regulated in the country where you live to provide services to you. For example, a broker regulated in Europe, like IC Markets, can passport their services to other member states. Similarly, brokers licensed in other jurisdictions can offer services across borders. Here is a breakdown of where IC Markets is regulated and accepting traders.
|Area & Countries||Locally Regulated||Accepts traders from the country|
How to verify the IC Markets Regulations
Regulated brokers mention their licenses and registrations in the footer of their website. It shouldn’t be hard to find where a broker is regulated, they generally make them visible, as a license is a seal of approval traders are looking to find.
There have been cases in the past where brokers lie about their licenses. You can easily check the authenticity of a license number by searching it on the regulator’s website. Here are links to the financial services regulatory bodies that license IC Markets:
- CySEC, Europe
- ASIC, Australia
- FSA, Seychelles
Does IC Markets Accept International Applications?
If a broker is not regulated in your country, or your country doesn’t offer a forex regulatory framework, it doesn’t mean you can’t open an account with a broker licensed overseas. It might be possible to open an account with one, or a choice of regulated entities in other jurisdictions. However, if you are based in a country where IC Markets is regulated, let’s say in Europe, you do not have a choice to open an account with IC Markets Seychelles to take advantage of higher leverage.
|IC Markets Business Names||Local Residents Only||International applications|
|IC Markets (EU) LTD||No||Yes|
|International Capital Markets Pty||Yes||No|
|Raw Trading Ltd||No||Yes|
Trading Benefits from the IC Markets regulations
Ever since Europe and Australia introduced product intervention measures restricting how much leverage forex and CFD brokers can provide to retail traders, traders who find lower leverage counterproductive to their trading strategy have been seeking alternative options to access the leverage they need. Therefore, traders should pay attention to the conditions offered by brokers with multiple licenses. Check the table below to understand how IC Markets regulations affect trading conditions.
|IC Markets Business Names||Minimum Deposit||Negative Balance Protection||Max Leverage on Major FX Pairs||Real Assets|
|IC Markets (EU) LTD||$0||Yes||1:30||No|
|International Capital Markets Pty||$0||Yes||1:30||No|
|Raw Trading Ltd||$0||No||1:500||No|
What type of trader are you?Beginner Trader?Expert Trader?
74-89% of retail CFD accounts lose money
So, can you trust IC Markets?
IC Markets is regulated in Europe and Australia, two of the most rigorously regulated markets, and Seychelles as an offshore option allowing the company to provide more attractive trading conditions. Due to the way IC Markets is regulated, you should expect the following characteristics of their service:
- Negative balance protection limiting traders from going into debt
- Customer funds must be kept in segregated accounts
- Cannot mislead investors or make false claims about investing and potential returns
- Comply with local rules and regulations, such as data protection, labour law and anti-money laundering regulations
If a broker does not comply with local laws, it would be fined or banned from operating in the country.
If you’re still asking yourself if you can trust IC Markets, you’ll be pleased to know we created an article answering the question “is IC Markets safe?” to help you get in-depth information on the subject.
IC Markets doesn’t accept traders from your country?
Now you know that IC Markets is regulated, there is a chance the broker doesn’t accept traders from your country. If you’re not sure, you can check a list of countries IC Markets does not accept from our IC Markets review’s Not Accepted Clients section.
If IC Markets regulation does not allow the broker to accept customer from your country, we recommend the following alternatives:
Pepperstone is well-known for its fast order execution and very low and competitive spreads.
XM offers nano lot trading through their Micro or Ultra-Low accounts, and spreads can be as low as 0 pips on the Zero Spread account. XM accepts clients from Belgium.
Forex.com is a great choice for US-based and international forex traders offering both fixed and variable spreads from 0.2 pips. Forex.com accepts clients from Canada and the USA.
IC Markets Regulation FAQs
Who regulates IC Markets?
IC Markets is regulated by three bodies: The CySEC provides a passporting license allowing IC Markets to offer services to traders throughout Europe; ASIC in Australia; and FSA from Seychelles for international markets.
Is IC Markets FCA regulated?
The FCA does not regulate IC Markets in the UK. However, traders from the UK can register with IC Markets (EU) LTD through the CySEC license.
Is IC Markets regulated in South Africa?
IC Markets is not locally regulated in South Africa, but clients can apply to Raw Trading Ltd through FSA regulation in Seychelles. Suppose you reside in South Africa and are keen on opening a trading account with a Financial Sector Conduct Authority regulated broker. In that case, you can look at our top 10 forex brokers for South Africa.
Can I use IC Markets in the US?
IC Markets is not regulated in the USA. Traders from the USA can’t register with this broker. If you are an American trader, there are limited options for you. To save time searching for a broker accepting US clients, you can take a look at our top 10 US forex brokers.