IC Markets Philippines Review 2026

IC Markets is one of the world's largest ECN brokers. Renowned for its institutional-grade ECN execution, raw spreads from 0 pips, and NY4 server configurations, it is the default choice for serious scalpers and algorithmic traders. Let's analyze its suitability for Filipino retail traders.

We will analyze their account types, deposit methods, trading fees, and see if IC Markets is the right choice for your trading needs.

Quick Verdict: Is IC Markets Safe and Legal in the Philippines?

• Our Rating: 4.8 / 5
• Minimum Deposit: $200
• GCash Supported: Yes (via local payment options)
• Legal Status: Offshore (Accessible, CySEC/ASIC regulated globally, but not licensed by local SEC)

IC Markets is legal for Filipinos to use. Like all major international brokers, it holds no license from the SEC Philippines or BSP. It is regulated by top-tier global bodies (like ASIC in Australia or the FCA in the UK) which ensures a high standard of security and transparency, but retail accounts from the Philippines fall under their offshore entities where local client protections do not apply.

Pros and Cons for Filipino Traders

Pros

• True ECN execution with massive liquidity, ensuring tightest spreads.
• EUR/USD and GBP/USD spreads drop to 0.0 pips during active sessions.
• ASIC regulation provides strong corporate governance and trust.

Cons

• High minimum deposit of $200 can be a barrier for beginners.
• Filipino accounts trade under the offshore FSA Seychelles entity.
• Customer support queue times can increase during London/NY overlaps.

Account Types & Platform Specifications

IC Markets offers several trading account structures:

Local Payment Methods: GCash, Cards & Crypto

IC Markets supports convenient local deposit channels:

• GCash: Supported through integrated e-wallet payment screens.
• Local Bank Transfer: PHP deposits processed via local online banking portals.
• Crypto & E-wallets: Supports USDT, Skrill, Neteller, and bank cards.

Note: KYC verification is mandatory before withdrawals are permitted. Ensure your uploaded ID and address details match your profile.

Regulatory Status & SEC Warnings

International Capital Markets Pty Ltd is regulated by ASIC in Australia. CySEC regulates their European entity. Non-EU/non-Australian accounts from the Philippines are managed under Raw Trading Ltd, regulated by the Financial Services Authority (FSA) of Seychelles. It holds no license from the SEC Philippines.

In the Philippines, retail forex trading on offshore platforms operates in a regulatory grey area. There are no restrictions preventing retail individuals from depositing and trading, but any profits generated must be declared as foreign-sourced income for tax filings with the Bureau of Internal Revenue (BIR).

Risk Warning & Jason's Advice

CFD trading involves high risk, especially when utilizing leverage.

My ex-prop trader advice for IC Markets:

1. Use Raw Spread: Standard account spreads have a markup of at least 0.8 pips. The Raw Spread account (MT5/cTrader) with ECN execution is far cheaper and spreads drop to 0.0 pips.
2. cTrader is Cheaper: If you are comfortable using cTrader, choose the Raw Spread cTrader account. The round-turn commission of $6.00 is slightly cheaper than the $7.00 MT5 ECN charge.
3. Drawn-out Verification: KYC checks on address documents can take up to 24-48 hours. Submit your documents immediately to avoid any hold on withdrawals.

FAQs