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IC Markets Overview for Singapore
IC Markets is a globally recognized forex and CFD broker founded in 2007, headquartered in Sydney, Australia. With over 2,700 instruments, including forex, indices, commodities, and cryptocurrencies, it has become a favorite among sophisticated traders worldwide. For Singapore traders, IC Markets offers direct access to deep liquidity pools and ultra-low spreads, making it particularly attractive for scalpers, day traders, and algorithmic traders. The broker supports local payment methods like PayNow and bank transfers, and provides platforms such as MT4, MT5, and cTrader. While it is not regulated by the Monetary Authority of Singapore (MAS), its strong global presence and competitive pricing have earned it a loyal following in the city-state. However, Singapore traders should be aware that they are onboarded under the Seychelles entity, which lacks the investor protection of a MAS-licensed broker. IC Markets is best suited for experienced traders who understand the risks and prioritize low trading costs over regulatory safeguards.
| 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 Singapore?
Segregated Client Funds
Yes
Negative Balance Protection
Yes
Safety verdict for Singapore 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 Singapore 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 — Singapore 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)
Singapore 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 — Singapore Muslim Traders
IC Markets offers a genuine swap-free Islamic account for Singapore Muslim traders who wish to trade in accordance with Sharia law. This account is available on both Standard and Raw Spread variants. There are no hidden fees or time restrictions — you can hold positions indefinitely without incurring rollover swaps. To open an Islamic account, simply register for a live account and then contact IC Markets support via live chat or email to request the swap-free status. They will convert your account within 24 hours. The account is fully functional with all trading instruments, including forex, gold, oil, and indices. However, be aware that some instruments may still incur overnight fees if held beyond a certain period, so check with support for specific details.
| 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 Singapore
| 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 Singapore traders
Gold (XAU/USD), EUR/USD, and major stock indices are the most popular instruments among Singapore traders.
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Education & Research Tools
Video Tutorials & Courses
3.5
Webinars (Live & Recorded)
3.0
Tip for Singapore 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 — Singapore Review
Support verdict for Singapore
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 Singapore Traders Make with IC Markets
- Mistake: Assuming MAS regulation. Many Singapore traders mistakenly believe IC Markets is MAS-regulated. Always check the entity: under IC Markets Global (Seychelles), you have no SDIC protection.
- Mistake: Using the wrong payment method. PayNow is instant and free, but bank transfers can take days. Choose PayNow for speed.
- Mistake: Not requesting Islamic account before trading. If you need a swap-free account, apply before opening any positions, or you may incur overnight fees.
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IC Markets vs Competitors in Singapore
| 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 Singapore 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 Singapore traders.
New instruments added for Singapore traders
IC Markets has added new trading instruments including additional forex pairs and commodity CFDs.
Final Verdict — Is IC Markets Worth It for Singapore Traders?
3.6/5
★★★★★
IC Markets is a top-tier broker for experienced Singapore traders who prioritize low trading costs and fast execution. The Raw Spread account and cTrader platform offer some of the tightest spreads in the industry, making it ideal for scalpers, day traders, and algorithmic strategies. The availability of PayNow deposits is a major convenience for local users. However, the lack of MAS regulation is a significant drawback — your funds are not protected by the SDIC, and you must rely on the broker's global reputation. Beginners or risk-averse traders may prefer a MAS-licensed broker like Saxo or CMC Markets for added safety. Overall, if you are a sophisticated trader who understands the risks and wants the best possible pricing, IC Markets is an excellent choice. Just ensure you use strong security measures and trade within your risk tolerance.
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FAQ — IC Markets for Singapore Traders
Is IC Markets safe for Singapore traders?+
How can I deposit money in IC Markets from Singapore?+
Does IC Markets have Islamic account?+
What is the minimum deposit for IC Markets in Singapore?+
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.
