IC Markets is one of the world's largest forex and CFD brokers, founded in 2007 and headquartered in Sydney, Australia. With a strong global presence and over 250,000 active traders, it has become a popular choice for Turkey traders seeking low spreads, fast execution, and advanced trading platforms. The broker offers access to over 60 currency pairs, indices, commodities, and cryptocurrencies, making it versatile for retail forex trading in Turkey. IC Markets is particularly attractive for Turkish traders due to its support for local payment methods like Bank Transfer (TL/USD), Skrill, and USDT, as well as its acceptance of National ID for account verification. The broker's reputation for transparency, competitive pricing, and robust technology has earned it a 3.6 overall score on comparebroker.io. However, Turkey traders should be aware that IC Markets is not regulated by the local Capital Markets Board (CMB), which means no local investor compensation scheme. Despite this, its global regulatory oversight from ASIC, CySEC, FSA, and SCB provides a degree of safety. The minimum deposit of $200 and maximum leverage of 500:1 are suitable for both beginners and experienced traders in Turkey, though high leverage carries significant risk. Overall, IC Markets is a reliable international broker for Turkey traders who prioritize low costs and advanced tools over local regulation.
| Detail | Information |
|---|---|
| Founded | 2007 |
| Headquarters | Australia |
| Regulated by | ASIC,CySEC,FSA,SCB |
| Min Deposit | $200 |
| Max Leverage | 500 |
| Platforms | MT4, MT5, cTrader |
| Islamic Account | ✓ Available |
| Copy Trading | ✗ Not available |
| Demo Account | ✓ Available |
| Instrument | Typical Spread | Commission/Lot | All-In Cost | Standard Spread |
|---|---|---|---|---|
| EUR/USD | 0.02 pips | $3.50 | $3.52 | 0.80 pips |
| GBP/USD | 0.23 pips | $3.50 | $3.73 | 1.20 pips |
| XAU/USD | 0.12 pips | $3.50 | $3.62 | 0.25 pips |
| S&P500 | 0.30 | $3.50 | $3.80 | 0.50 |
| NASDAQ | 0.80 | $3.50 | $4.30 | 1.50 |
| BTC/USD | $30 | $3.50 | $33.50 | $45 |
| Feature | Available |
|---|---|
| Demo Account | ✓ Yes |
| ECN/Raw Account | ✓ Yes |
| Islamic (Swap-free) | ✓ Yes |
| Scalping Allowed | ✓ Yes |
| Hedging Allowed | ✓ Yes |
| Expert Advisors (EA) | ✓ Yes |
| Copy Trading | ✗ No |
IC Markets offers a genuine Islamic (swap-free) account for Muslim traders in Turkey who wish to trade in compliance with Sharia law. This account does not charge or pay overnight swap fees (interest) on positions held open beyond the daily rollover. The account is available for both Standard and Raw Spread accounts, and there are no hidden fees or additional spreads compared to standard accounts. To apply, Turkey traders simply need to contact IC Markets customer support after opening a real account and request the conversion to an Islamic account. The broker may require a declaration of religious belief. It's important to note that the Islamic account may be converted back to a standard account if the account is inactive for a period (e.g., 90 days). Also, some instruments like cryptocurrencies may not be eligible for swap-free treatment. Overall, IC Markets' Islamic account is a genuine offering that allows Turkey Muslim traders to trade without violating their religious principles. It is recommended to confirm the terms with the broker before trading.
| Feature | Details |
|---|---|
| Islamic Account Available | ✓ Yes |
| Swap Fees | ✓ No swap fees |
| Hidden Admin Fees | Verify with broker before trading |
| How to Apply | Contact support after opening standard account |
| Approval Time | Usually same business day |
| Asset Class | Examples | Available | Typical Spread |
|---|---|---|---|
| Forex Major Pairs | EUR/USD, GBP/USD, USD/JPY | ✓ All available | 0.02 pips |
| Gold (XAU/USD) | Spot Gold | ✓ Available | 0.12 pips |
| Silver (XAG/USD) | Spot Silver | ✓ Available | Check broker |
| Oil CFDs | WTI Crude, Brent Crude | ✓ Available | $0.03–$0.05 |
| Stock Indices | S&P500, NASDAQ, DAX, FTSE | ✓ Available | 0.30 |
| Crypto CFDs | BTC, ETH, XRP, SOL | ✓ Available | $30 |
| Shares CFDs | Apple, Tesla, Amazon | ✓ Available | 0.02% |
| ETF CFDs | SPY, QQQ | ✓ Available | 0.02% |
| Feature | Available | Notes |
|---|---|---|
| Economic Calendar | ✓ Yes | Built into platform, real-time |
| Daily Market Analysis | ✓ Yes | Written + video reports |
| Video Tutorials | ✓ Yes | Beginner to advanced |
| Live Webinars | ✓ Yes | Weekly sessions, recorded |
| Demo Account | ✓ Yes | Unlimited, no expiry |
| Copy Trading | ✗ No | Not available |
| Free VPS | ✓ Yes (active traders) | For EA/automated trading |
| Local Language Support | ✗ No | English only |
| Support Channel | Available | Hours | Rating |
|---|---|---|---|
| Live Chat | ✓ Yes | 24/5 (Mon-Fri) | ★★★★★ Excellent |
| Email Support | ✓ Yes | 24/5 | ★★★★☆ Very Good |
| Phone Support | ✓ Yes | Business hours | ★★★★☆ Good |
| ✗ No | — | Not available | |
| Local Language | ✗ No | — | English only |
| Broker | Min Deposit | EUR/USD | Islamic | TradingView | Score |
|---|---|---|---|---|---|
| IC Markets ★ | $200 | 0.02 pips | ✓ | ✗ | 3.6 |
| Pepperstone | $0 | 0.09 pips | ✓ | ✓ | 4.9 |
| Exness | $10 | 0.10 pips | ✓ | ✗ | 4.8 |
| XM Group | $5 | 0.80 pips | ✓ | ✗ | 4.7 |
Understanding how IC Markets protects your funds is critical before depositing. Here's a complete breakdown of the security measures in place for Turkey traders:
| Security Feature | Status | Details |
|---|---|---|
| Segregated Client Funds | ✓ Yes | Client money held in separate bank accounts |
| Negative Balance Protection | ✓ Yes | Losses capped at account balance |
| Top-tier Regulation | ✓ Yes | FCA/ASIC/CySEC licensed |
| Investor Compensation | ✓ Yes | Up to £85,000 (FCA) or €20,000 (CySEC) |
| 2FA Security | ✓ Yes | Two-factor authentication available |
| SSL Encryption | ✓ Yes | All data encrypted in transit |
| Audit & Reporting | ✓ Yes | Regular financial audits required by regulators |
Stay updated with the latest developments from IC Markets relevant to Turkey traders:
IC Markets is a highly competitive broker for Turkey traders who prioritize low trading costs, advanced platforms, and fast execution. Its support for local payment methods like Bank Transfer, Skrill, and USDT, along with acceptance of National ID, makes account opening straightforward. The Raw Spread account offers some of the tightest spreads in the industry, benefiting scalpers and day traders. However, the lack of regulation from Turkey's CMB is a significant drawback, as it means no local recourse in case of disputes. The broker's global licenses from ASIC, CySEC, FSA, and SCB provide some reassurance, but Turkey traders should be fully aware of the risks. The Islamic account is a genuine offering for Muslim traders, and the platform selection is excellent. On the downside, customer support is English-only, and educational resources are limited for Turkish speakers. Overall, IC Markets is best suited for experienced Turkey traders who are comfortable with international brokers and want low-cost trading. Beginners may prefer a locally regulated broker for added safety. We recommend IC Markets for its value, but caution about the regulatory gap.