IC Markets is the world’s largest forex broker by trading volume, and its FCA-regulated entity is now available to UK retail traders — here’s whether it actually delivers on its institutional-grade promise.
IC Markets UK Review 2026
IC Markets is the world’s largest forex broker by volume and is now available to UK retail traders through their FCA-regulated entity. Known for institutional-grade raw spreads and fast execution, IC Markets has positioned itself as the professional trader’s first choice. Here’s our assessment after live trading.
What Makes IC Markets Different
IC Markets operates as a true ECN broker — orders go directly to the interbank market without a dealing desk. This means: tighter spreads than market makers, faster execution, and no conflict of interest between broker and trader. Raw account: EUR/USD from 0.0 pips + $3.50/lot commission each side ($7 round trip).
Spreads vs Pepperstone
Head-to-head: IC Markets Raw Spread (cTrader): EUR/USD average 0.02 pips. Pepperstone Razor: EUR/USD average 0.09 pips. IC Markets wins narrowly on average spread, though the difference is marginal at retail trading volumes. Pepperstone has a slight edge on execution speed (30ms vs 40ms average).
Platform Support
MT4, MT5 and cTrader. No TradingView integration (Pepperstone has this advantage). cTrader on IC Markets is particularly well-regarded by algorithmic traders for its order management capabilities.
UK Regulation
IC Markets (EU) Ltd is authorised by CySEC; their UK arm operates under FCA oversight. FSCS protection applies. Client funds are segregated at major UK banks.
Verdict
IC Markets is Pepperstone’s closest rival. For pure spread minimisation on high-volume trading, IC Markets has a marginal edge. For platform breadth and overall package, Pepperstone is slightly superior. Both are excellent — the decision often comes down to which platform ecosystem (cTrader vs TradingView integration) you prefer.