Recalculated 2026-11-02 · Established 2007 · South African clients are onboarded unde
IC Markets — South Africa
IC Markets is rated 3.52 out of 5 by our formula (Rank #22 of 70) for traders in South Africa: round turn 7.5 USD, residents accepted — Through an offshore entity.
Suits you if a swap-free account is available · it runs 3 trading platforms · it has been trading for 19 years
Look elsewhere if the round turn is 7.5 USD against a 7 USD median here · the minimum is 200 USD against 50 USD in this market · it holds no licence issued in South Africa
Key facts (8)
- Who actually onboards you
- South African clients are onboarded under the OFFSHORE entity Raw Trad
- Licence number
- not stated
- Established
- 2007group
- Min deposit, USD
- 200 USDgeo
- Platforms
- MetaTrader 4 · MetaTrader 5 · cTrader
- Local funding
- Methods for SA clients: bank/wire transfer, cred
- Max leverage
- 500geo
- EURUSD
- 1.0 pipsgeo
Accounts (2)
2 of 2 accounts with a published cost per lot
2 of 2 shown
Click a column heading to sort. Figures are list terms, no promo codes.
| Broker · account | Min deposit, USD | Spread | Commission | Cost per lot | Swap-free |
|---|---|---|---|---|---|
| IC MarketsRaw Spread | — | 0advertised | 7per standard lot | 7round turn, USD | Swap-free |
| IC MarketsStandard | — | — | Anyper standard lot | 0round turn, USD | Swap-free |
This broker against the South Africa middle (81 of 104)
| IC Markets | South Africa median | |
|---|---|---|
| Round turn, USD | 7.5 USD | 7.0 USD |
| Min deposit, USD | 200 USDgeo | 50.0 USD |
| Max leverage | 500geo | 500.0geo |
| Withdrawal, h | within 1 working day (and typically 3-5 business daysgroup | 24.0 h |
| EURUSD, standard | 1.0 pipsgeo | 1.0 pips |
| EURUSD, raw | 0.05 pipsgeo | 0.0 pips |
| Established | 2007group | 2009.0 |
| Platforms | 3 | 3.0 |
Onboards residents through an offshore entity
Offshore for SA clients (Seychelles FSA / Bahamas). No FSCA (local) authorisation, and no statutory investor-compensation scheme - unlike the CySEC EU arm which carries up to EUR 20,000 ICF cover that
56 of 104 brokers in our base hold a licence issued in South Africa. That is a fact about the market, not about IC Markets.
- Who actually onboards you
- South African clients are onboarded under the OFFSHORE entity Raw Trading Ltd (Seychelles)
- Licence number
- —
- Local licence
- no
- Checked
- 2026-07-08
Score (6/6 axes)
A weighted average of the axes below. Each axis is measured on the same scale as the score itself, and carries the weight shown beside it.
Check:25.0% × 4.50+ 20.0% × 4.38+ 20.0% × 0.50+ 15.0% × 4.00+ 10.0% × 4.75+ 10.0% × 3.50= 3.52
Ranked against brokers measured on every axis
Licence check
- Licence number
- —
- Checked
- 2026-07-08
Who actually onboards you
South African clients are onboarded under the OFFSHORE entity Raw Trading Ltd (Seychelles) - the 'IC Markets Global' bra
Offshore entity
What each account gives you
Three: Standard (spread-only, no commission), Raw Spread MT4/MT5 (near-zero spread + commission), Raw Spread cTrader (ne
Cost per round turn, and the South Africa middle (81 of 104)
raw+commission
Client-money protections
Minimum deposit USD 200 (~ZAR 3,757). IC Markets states no broker-side deposit/withdrawal fees; real costs come from ZAR
What the broker publishes about payouts
Trading software and asset classes (3)
MetaTrader 4 · MetaTrader 5 · cTrader
61 forex pairs; 25 index CFDs (from 0.4 points, commission-free, 24/5); commodities (energy, agriculture, metals); cryptocurrency CFDs (leverage up to 1:200); 2,500+ share CFDs across ASX, NYSE, NASDAQ, Tokyo and European exchanges.
Reviews
more than 55,000 verified 5-star reviews
Where it wins, where it loses
Pros (2)
- Swap-free account available
- Withdrawal published at within 1 working day (and typically 3-5 business days for bank transfers to be credited)
Cons (2)
- Round turn 7.5 USD against a South Africa median of 7.0
- No local licence: the client is onboarded by a foreign entity
Where it does not serve
United States of America, Canada, New Zealand, Iran, North Korea (Democratic People's Republic of Korea)
Methodology
the weighted mean of six axes, each on the same 0–5 scale · reviews 25%, cost 20%, safety 20%, payouts 15%, track_record 10%, platforms 10%
Sources (2)
2 sources, read on 2026-07-08. Ordered by weight of evidence: regulator registers first, then the broker's own documents, review platforms and aggregators.
- Regulator registers
- 1fsca.co.zafsca.co.za · domainRegister
- Aggregators and directories
- 2icmarkets.com/company/regulationicmarkets.com · pageAggregator
FAQ (5)
Does IC Markets accept residents of South Africa?
Through an offshore entity.
Which entity onboards a South Africa client of IC Markets?
South African clients are onboarded under the OFFSHORE entity Raw Trading Ltd (Seychelles) - the 'IC Markets Global' brand - or IC Markets Ltd (Bahamas); NOT the ASIC (Australia) or CySEC (EU) entities. Confirm the exact entity on the client agreement at signup.
What licence does IC Markets hold for South Africa?
No licence number is published for this country.
What does one EURUSD lot cost at IC Markets?
7.5 USD per round turn against a South Africa median of 7.0 USD, measured on 81 of 104 brokers.
How long does a withdrawal from IC Markets take?
IC Markets publishes within 1 working day (and typically 3-5 business days for bank transfers to be credited). Their own wording: “All withdrawal requests are processed by our Accounts Department within one (1) working day; however, the time required for the funds to be transferred will dep”.