IC Markets Review 2026: Raw Spreads Explained

The first thing most traders want to know is simple: what does it actually cost to place a trade? With IC Markets, the answer depends heavily on which account type you choose, and understanding the difference is the key to getting the best deal.

Standard vs. Raw Spread: The Core Choice

IC Markets offers two main account structures. The Standard account is commission-free, with spreads starting from 0.6 pips on EUR/USD. The Raw Spread account charges a commission of $6 per round-turn lot on cTrader (or $7 on MT4/MT5) but gives you spreads that can touch 0.0 pips.

Here's the thing: the total all-in cost often comes out very similar between the two. If the Standard account's EUR/USD spread is sitting at 0.6 pips, that's equivalent to $6 in cost on a standard lot. The Raw Spread account at 0.0 pips plus a $6 commission? Also $6. So why bother with Raw Spread at all?

Why Raw Spread Wins for Active Traders

The math shifts dramatically once spreads widen. During news events or low-liquidity periods, Standard account spreads can jump to 1.5 pips or more. Raw Spread accounts stay close to the interbank rate, with the commission remaining fixed at $6-7. For a scalper placing 50 trades a day, that difference adds up fast.

• EUR/USD all-in cost (Raw, cTrader): ~$6.00 per standard lot
• GBP/USD all-in cost (Raw, cTrader): ~$8.00 per standard lot (0.2 pip spread + $6)
• USD/JPY all-in cost (Raw, cTrader): ~$7.00 per standard lot (0.1 pip spread + $6)

Compared to the industry average of around $10-12 per lot on EUR/USD at many retail brokers, IC Markets' pricing is genuinely competitive. Brokerchooser and TradersUnion both rate IC Markets' fees at 8/10, placing it among the most cost-efficient options in its class for 2026.

IC Markets has a reputation for transparency, and that reputation is mostly deserved. But there are a few cost areas that don't always get highlighted in the headline numbers.

Overnight Financing (Swap Rates)

This is the big one. Swap rates, also called overnight financing or rollover fees, are charged when you hold a leveraged position open past the daily cutoff (usually 5pm New York time). On forex pairs, these can be modest. On some stock index CFDs and commodity CFDs, they can be surprisingly high. If you're planning to hold trades for days or weeks rather than hours, the swap costs can quietly eat into your profits in a way that the tight spreads don't offset.

The practical advice here: always check the specific swap rate for the instrument you're trading before you open a position. IC Markets publishes these on their website and within the trading platforms.

Third-Party Payment Fees

IC Markets itself charges nothing to deposit or withdraw. That said, your bank, card provider, or e-wallet service (like Skrill or Neteller) may charge their own conversion or transfer fees. If your account is denominated in USD but you're depositing in a different currency, conversion costs apply at your payment provider's rate.

The cTrader vs. MT4/MT5 Commission Gap

It's easy to miss: the Raw Spread account on cTrader costs $6 per round-turn lot, while the same account type on MT4 or MT5 costs $7 per round-turn lot. Over hundreds of trades, that $1 difference compounds. High-frequency traders and scalpers should factor this into their platform choice from the start.

• No inactivity fees charged, ever
• No account maintenance fees
• Currency conversion costs depend on your payment method, not IC Markets

Not every trader benefits equally from IC Markets' pricing model. The raw spread structure is genuinely brilliant for some trader types, and less relevant for others.

Best Fit: Scalpers and High-Frequency Traders

Scalping means opening and closing trades very quickly, sometimes within seconds, to capture tiny price movements. For this strategy, every fraction of a pip matters. IC Markets' 0.0 pip raw spreads on EUR/USD, combined with fast Equinix NY4 execution at around 40ms, make it one of the best environments for scalping available to retail traders. Over 60% of IC Markets' trades are reportedly algorithmic, which tells you something about the client base this broker attracts.

Good Fit: Algorithmic Traders

If you're running Expert Advisors (EAs) on MT4/MT5 or automated strategies on cTrader, the low and predictable per-trade cost is a major advantage. IC Markets also offers a free VPS (Virtual Private Server) for accounts trading 15 or more lots per month, which keeps your algorithms running 24/7 without relying on your home internet connection.

Reasonable Fit: Active Day Traders

Day traders who open and close multiple positions within a session will benefit from tight spreads, though they need to be comfortable with the commission-based pricing model.

Weaker Fit: Long-Term Position Traders

If you're holding trades for days or weeks, the swap costs start to matter more than the spread. In that case, comparing IC Markets' overnight rates against alternatives is essential before committing.