IC Markets (EU) Ltd Account Types & How to Open

IC Markets (EU) Ltd operates under the oversight of the Cyprus Securities and Exchange Commission (CySEC), holding a CIF licence with number 362/18. This regulatory status places the broker within the EU’s harmonised MiFID II framework, which imposes strict rules on how client accounts are structured, funded and protected.

For traders, the most immediate implication is that any account opened with this entity is covered by the Investor Compensation Fund (ICF) up to €20,000 per client in the event of broker insolvency. Additionally, CySEC mandates negative balance protection for retail clients, meaning you cannot lose more than your deposited balance. Client funds must be held in segregated bank accounts, separate from the company’s own operational capital.

In FXCanary’s research, we confirmed the CySEC licence details against the public register and found the status as Authorised. However, our wider due diligence uncovered a significant concern: the broker’s official domain, icmarkets.eu, returned a risk flag for no verifiable website or social-media presence at the time of writing. This makes it impossible to independently confirm current account specifics directly from a live, operational site. The analysis that follows therefore draws on regulatory standards and typical offerings for CySEC-licensed entities, while being transparent about what we could not verify.

In line with most CySEC-regulated brokers, IC Markets (EU) Ltd would be expected to offer two distinct account tiers: a Standard account with commission-free trading wrapped into the spread, and a Raw Spread account with tight interbank spreads plus a per-lot commission. This two-tier model is industry standard and caters to different trading styles.

A Standard account is designed for discretionary traders who prefer simplicity. Rather than tracking a separate commission line, all trading costs are embedded in a wider bid/ask spread. This can be more intuitive for beginners, though the all-in cost is often slightly higher than on a Raw Spread account, especially during liquid sessions.

The Raw Spread account, by contrast, appeals to scalpers, algorithmic traders and those running Expert Advisors. Here, spreads can start from 0.0 pips on major pairs during deep liquidity, but a commission – typically around €3.00–€3.50 per side per standard lot – is applied. The total round-turn cost (spread plus commission) often works out lower than the Standard account for high-frequency or high-volume strategies.

Without access to a live website or current offering schedule, we cannot confirm whether IC Markets (EU) Ltd currently lists both account types or, indeed, any different naming conventions. The broker’s global sister entities do operate such a dual-model, but EU rules may adjust the precise structure.

One of the first questions a new trader asks is “how much do I need to start?”. In this case, that figure is conspicuously absent. Our review of the icmarkets.eu domain – and a broader search of related corporate disclosures – did not yield a published minimum deposit requirement.

In the CySEC-regulated space, minimum deposits often range from €100 to €500, though some brokers set the bar as low as €0 for certain account types. Without a functioning website, we cannot place IC Markets (EU) Ltd within that spectrum.

For a trader, this opacity is a double-edged caution: if the broker were actively soliciting business, a clear minimum deposit would be among the first things displayed. Its absence, combined with the risk flag on the domain, suggests the EU entity may be dormant or not actively onboarding retail clients. We would advise any interested party to seek written confirmation of the current minimum funding requirement and to verify that the account is indeed being opened directly with the CySEC-regulated company, not a confusingly named foreign affiliate.

European Securities and Markets Authority (ESMA) product intervention measures, applied by CySEC, cap leverage for retail clients at 1:30 on major currency pairs, and lower on other instruments – 1:20 on minors and gold, 1:10 on commodities and indices, and as little as 1:2 on cryptocurrencies. IC Markets (EU) Ltd, as a regulated firm, is bound by these limits for all retail accounts.

These caps are not optional; they are embedded in the client agreement and enforced at the platform level. For retail traders, this means initial margin requirements of about 3.33% for forex majors, which substantially reduces the risk of a catastrophic loss but also limits the upside of small-account trading.

There is a path to higher leverage: experienced traders meeting at least two of three criteria – a financial portfolio worth over €500,000, relevant financial services work experience, or a significant volume of recent trades – may apply for reclassification as a professional client. Professional status removes the leverage cap and negative balance protection, but also strips away the ICF compensation and other retail safeguards. Without a live website, the application procedure, required evidence and minimum equity thresholds for this tier remain unverified.

Transparent pricing is the bedrock of broker trust. For IC Markets (EU) Ltd, we face the same opacity challenge: no live rate tables or contract specifications were retrievable. What we can infer from the broker’s regulatory framework and the typical behaviour of CySEC entities is that spreads on the Standard account likely fall in the 0.8–1.2 pip range for EUR/USD during normal market hours, while Raw Spread account spreads could dip below 0.1 pips before commission.

On the commission side, if a Raw Spread model exists, forex commissions would likely be between €5.00 and €7.00 per full round turn (1 lot), reflecting the EU’s post-MiFID II ban on any form of rebate or payment for order flow that could bias execution.

Swap rates (overnight financing) would be calculated based on the interbank rate plus a markup, and they would be visible inside the trading platform before a position is held overnight. Given the absence of a verified website, traders should request a live spread and commission schedule, and compare the all-in cost on the intended instrument against other CySEC-regulated brokers before funding an account.

The global IC Markets brand is heavily identified with MetaTrader 4 and MetaTrader 5, and it would be reasonable to expect the EU entity to offer these platforms, along with the web-based MT4/MT5 WebTrader and mobile apps. Whether the cTrader platform – another popular choice at the broker’s non-EU sister companies – is available under the EU licence is something we could not confirm.

A demo account, funded with virtual money, is a standard feature for CySEC brokers, allowing prospective clients to test spreads, execution speed and platform stability without financial risk. Typically, demo accounts remain active for 30 days unless extended. Given the domain-access issues, we advise users to attempt opening a demo first as a practical test of the broker’s operational readiness.

Should the demo application process fail or be unavailable, it would be a strong indicator that the EU entity is not actively maintaining its retail infrastructure, and traders would be better served by a fully operational CySEC broker.

Opening a live account with a CySEC-regulated broker involves a standardised Know Your Customer (KYC) process. You would typically need to provide proof of identity (passport or national ID), proof of address (recent utility bill or bank statement) and a valid tax identification number. The broker is required to verify these documents before activating the account.

Additionally, CySEC brokers must conduct a suitability and appropriateness assessment, often in the form of a questionnaire about your trading experience, financial knowledge and risk appetite. This is a regulatory obligation, not a formality, and it determines which products you can trade.

The entire digital onboarding can usually be completed within one business day, provided all documents are clear. However, with no live website to test, we cannot confirm whether IC Markets (EU) Ltd has an active account-opening funnel. Traders should be wary of any delays or requests to deposit funds before verification is complete.

The regulatory credentials of IC Markets (EU) Ltd are not in question – CySEC licence 362/18 is genuine and authorised. However, regulation alone does not make a broker a safe place to trade. The absence of a verifiable, live website at icmarkets.eu is a material concern that elevates operational risk.

For a trader, the missing information means crucial details about account options, minimum deposits and trading costs cannot be confirmed independently. Coupled with a Guarded risk score, this suggests that the EU entity may be in a state of dormancy or limited operation, possibly functioning more as a passporting vehicle for larger-group activities than as an active retail-facing business.

In FXCanary’s view, the account structure likely mirrors the standard CySEC dual-model, but the lack of transparency means you are taking a leap of faith. If you are seeking an EU-regulated broker, there are numerous well-established alternatives with fully operational websites, clear pricing and responsive support. For those still interested in IC Markets (EU) Ltd, we recommend a cautious, incremental approach: test the demo, verify the live account terms in writing, and never deposit more than you are prepared to lose before the broker has proven its operational reliability.