IC Markets
IC Markets is a reputable A-Book broker offering raw spreads from 0.0 pips and deep liquidity pools, but traders should be aware of potential slippage during high volatility and strict EA policies.
Execution & Slippage
IC Markets routes orders directly to liquidity providers, offering ECN-style execution. During normal market conditions, slippage is minimal. However, during high-impact news events, slippage can be significant, especially on stop-loss orders. The broker does not guarantee fill prices, which is standard for A-Book models.
Hidden Rules (If Any)
- Inactivity Fee: A dormant account fee of $10 per month is charged after 6 consecutive months of no trading activity. This is clearly stated in the terms but can catch long-term investors off guard.
- Hedging Restrictions: While hedging is allowed, certain strategies like arbitrage or latency trading are prohibited and may result in account closure.
- Negative Balance Protection: Not offered for professional clients, which is a risk for high-leverage traders.
Algorithmic Trading (EA) Compatibility
IC Markets is EA-friendly, supporting all major platforms (MT4, MT5, cTrader). However, EAs must comply with the broker’s fair usage policy. High-frequency trading or strategies that exploit price feed delays are banned. The broker reserves the right to reject orders from EAs that cause excessive server load.
Final Verdict
IC Markets is a solid choice for serious traders who value tight spreads and fast execution. The A-Book model ensures no conflict of interest, but traders must manage slippage risk during volatile periods. The inactivity fee and lack of negative balance protection for professionals are notable drawbacks. Overall, a trustworthy broker with transparent operations, but not without its caveats.