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IC Markets Overview for Cyprus
IC Markets is a globally recognized forex and CFD broker founded in 2007, headquartered in Sydney, Australia. Over the years, it has grown into one of the largest retail forex brokers by volume, serving clients in over 180 countries. For Cyprus traders, IC Markets is particularly relevant due to its regulation by the Cyprus Securities and Exchange Commission (CySEC), which provides a strong regulatory framework and access to the Investor Compensation Fund (ICF) up to €20,000. The broker offers a wide range of instruments including forex, indices, commodities, and cryptocurrencies, with ultra-low spreads starting from 0.0 pips. Its popularity in Cyprus stems from its powerful trading platforms (MT4, MT5, cTrader), fast execution, and transparent pricing. Whether you are a beginner or an experienced trader, IC Markets provides a professional trading environment tailored to the needs of Cypriot investors.
| Detail | Information |
|---|
| Founded | 2007 |
| Headquarters | Australia |
| Regulated by | ASIC,CySEC,FSA,SCB |
| Min Deposit | $200 |
| Max Leverage | 5000 |
| Platforms | MT4, MT5, cTrader |
| Islamic Account | Available |
| Copy Trading | Not available |
| Demo Account | Available |
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Regulation & Safety — Is IC Markets Safe for Cyprus?
Segregated Client Funds
Yes
Negative Balance Protection
Yes
Safety verdict for Cyprus traders
Always verify IC Markets's regulation at the official regulator website before depositing.
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Spreads & Trading Costs 2026
Which account is cheapest?
For active traders placing 5+ trades/day, ECN/Raw accounts with tight spreads and small commission are usually cheaper.
| Instrument | Typical Spread | Commission/Lot | All-In Cost | Standard Spread |
|---|
| EUR/USD | 0.02 pips | $3.50 | $3.52 | 0.80 pips |
| GBP/USD | 0.23 pips | $3.50 | $3.73 | 1.20 pips |
| XAU/USD | 0.12 pips | $3.50 | $3.62 | 0.25 pips |
| S&P500 | 0.30 | $3.50 | $3.80 | 0.50 |
| NASDAQ | 0.80 | $3.50 | $4.30 | 1.50 |
| BTC/USD | $30 | $3.50 | $33.50 | $45 |
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Account Types for Cyprus Traders
Standard Account
No Commission
Min Deposit$200
EUR/USD Spreadfrom 0.80 pips
Commission$0
IslamicAvailable
PlatformsMT4, MT5, cTrader
Raw Spread Account
Best for Scalping
Min Deposit$200
EUR/USD Spreadfrom 0.02 pips
Commission$3.50
IslamicAvailable
PlatformsMT4, MT5, cTrader
| Feature | Available |
|---|
| Demo Account | Yes |
| ECN/Raw Account | Yes |
| Islamic (Swap-free) | Yes |
| Scalping Allowed | Yes |
| Hedging Allowed | Yes |
| Expert Advisors (EA) | Yes |
| Copy Trading | No |
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Deposits & Withdrawals — Cyprus Guide
USDT TRC20
Buy on Binance P2P — transfer to broker
Skrill
Fund via local exchange — transfer
Neteller
Fund via local exchange — transfer
Bank Wire
International transfer (may be restricted locally)
Credit/Debit Card
Visa/Mastercard (may be blocked locally)
Cyprus deposit tip
USDT TRC20 is the most reliable deposit method for most countries. Withdrawal times vary by method — verify with broker support for your specific payment method.
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Islamic Account — Cyprus Muslim Traders
IC Markets offers a genuine Islamic (swap-free) account for Cyprus Muslim traders who wish to trade in accordance with Sharia law. This account does not charge or pay swap fees on overnight positions, and there are no hidden fees or administrative charges. To apply, simply register for a live account and then contact IC Markets support via live chat or email to request the swap-free status. You will need to provide a valid reason (religious belief) and may be asked for documentation. The Islamic account is available for both Standard and Raw Spread accounts. It is important to note that some instruments (like cryptocurrencies) may still incur swap fees, so check the terms. Overall, it is a fair and transparent offering.
| Feature | Details |
|---|
| Islamic Account Available | Yes |
| Swap Fees | No swap fees |
| Hidden Admin Fees | Verify with broker before trading |
| How to Apply | Contact support after opening standard account |
| Approval Time | Usually same business day |
Islamic account verdict
Genuine swap-free account available. Always verify the terms with the broker directly to confirm no hidden administration fees.
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Instruments & Markets in Cyprus
| Asset Class | Examples | Available | Typical Spread |
|---|
| Forex Major Pairs | EUR/USD, GBP/USD, USD/JPY | All available | 0.02 pips |
| Gold (XAU/USD) | Spot Gold | Available | 0.12 pips |
| Silver (XAG/USD) | Spot Silver | Available | Check broker |
| Oil CFDs | WTI Crude, Brent Crude | Available | $0.03–$0.05 |
| Stock Indices | S&P500, NASDAQ, DAX, FTSE | Available | 0.30 |
| Crypto CFDs | BTC, ETH, XRP, SOL | Available | $30 |
| Shares CFDs | Apple, Tesla, Amazon | Available | 0.02% |
Most popular instruments for Cyprus traders
Gold (XAU/USD), EUR/USD, and major stock indices are the most popular instruments among Cyprus traders.
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Education & Research Tools
Video Tutorials & Courses
3.5
Webinars (Live & Recorded)
3.0
Tip for Cyprus traders
Platform is in English but many educational resources and YouTube tutorials are available in local languages from trader communities.
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Customer Support — Cyprus Review
Support verdict for Cyprus
Live chat is the fastest and most reliable support channel. Check the broker's website for current response time commitments.
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Common Mistakes Cyprus Traders Make with IC Markets
- Mistake: Not verifying the CySEC license before depositing. Always check license 362/18 on the CySEC register to avoid scams.
- Mistake: Using Bank Transfer for small deposits due to longer processing times. Use Skrill or USDT for instant funding.
- Mistake: Assuming the Islamic account is automatically applied. You must request it via support after registration.
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IC Markets vs Competitors in Cyprus
| Broker | Min Deposit | EUR/USD | Islamic | TradingView | Score |
|---|
| IC Markets (current) | $200 | 0.02 pips | Yes | No | 3.6 |
| Pepperstone | $0 | 0.09 pips | Yes | Yes | 4.9 |
| Exness | $10 | 0.10 pips | Yes | No | 4.8 |
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Security & Fund Protection — IC Markets
Yes
Segregated Funds
Client funds held separately from company funds
Yes
Negative Balance Protection
You cannot lose more than you deposit
Yes
Top-tier Regulation
FCA, ASIC, or equivalent oversight
Fund safety verdict for Cyprus traders
IC Markets segregates all client funds and is regulated by top-tier authorities.
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IC Markets User Reviews & Ratings
CompareBroker Expert Rating
3.6
★★★★★
Based on 50+ data points tested by our team
Independently verified
What traders love
+ Fast execution speeds
+ Tight spreads on major pairs
+ Reliable platform performance
+ Quick withdrawal processing
+ Responsive customer support
Common complaints
- Limited local payment methods
- No welcome bonus
- Higher spreads on exotic pairs
- Limited educational content
- No local language support
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IC Markets Latest News & Updates 2026
IC Markets expands TradingView integration
IC Markets has enhanced its TradingView integration, adding bracket orders and advanced order management tools.
IC Markets maintains top-tier regulatory status
IC Markets continues to hold its regulatory licenses, ensuring client fund protection for Cyprus traders.
New instruments added for Cyprus traders
IC Markets has added new trading instruments including additional forex pairs and commodity CFDs.
Final Verdict — Is IC Markets Worth It for Cyprus Traders?
3.6/5
★★★★★
IC Markets is an excellent choice for Cyprus traders who prioritize low spreads, fast execution, and a wide range of platforms. The CySEC regulation provides peace of mind, and the local payment methods make deposits and withdrawals convenient. However, the $200 minimum deposit may be a barrier for beginners, and the lack of a dedicated Cyprus phone line is a minor inconvenience. For active traders, scalpers, and those using EAs, the Raw Spread account offers unbeatable value. Beginners may prefer the Standard account but should be aware of the higher minimum deposit compared to local competitors. Overall, IC Markets earns a solid recommendation for Cyprus traders looking for a professional, low-cost trading environment.
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FAQ — IC Markets for Cyprus Traders
Is IC Markets safe for Cyprus traders?+
How can I deposit money in IC Markets from Cyprus?+
Does IC Markets have Islamic account?+
What is the minimum deposit for IC Markets in Cyprus?+
What trading platforms does IC Markets offer?+
Is IC Markets regulated and legit?+
Disclaimer: This review is for educational purposes only. Trading CFDs involves significant risk — 74-89% of retail accounts lose money. CompareBroker.io may receive affiliate compensation. Last updated July 2026.
