IC Markets Australia in 2026: ASIC Entity, AFSL 335692, Leverage Cap and Local Funding Explained
The desk verdict on IC Markets Australia
ASIC-regulated home pick under AFSL 335692. Genuine Tier-1 oversight, NAB-segregated client funds, 1:30 retail leverage per ASIC product intervention, 200 dollar minimum deposit. The cleanest local pick for Australian retail and professional clients.
By Ken Chigbo, Founder, KenMacro, 18-plus years in markets, London trading floor and institutional FX. Last reviewed 14 May 2026.
Australian traders asking about IC Markets Australia in 2026 are usually weighing one specific question. Is the home-market ASIC entity a genuine credibility upgrade over the offshore options floating around the broker comparison sites, or is it the same product with a different licence number stapled to the footer. From the desk, after eighteen years of routing institutional flow and watching retail brokers come and go, the honest answer is that the ASIC presence is real, it is enforceable, and it changes the risk profile in a way that matters when something goes wrong.
This guide covers the ASIC entity specifically. International Capital Markets Pty Ltd, AFSL 335692, headquartered in Sydney since 2007. We will walk through the licence, the leverage caps, the client money rules, local funding via BPAY and PayID, AUD account specifics, and the trade-offs Australian professional clients should weigh before applying for sophisticated investor status. UK readers landing on this page should skip to the routing note further down.
Open an IC Markets ASIC account
Sydney HQ, AFSL 335692, NAB-segregated client funds, AUD base accounts available.
CFDs are leveraged products. Losses can exceed initial deposits when professional categorisation applies.
Who IC Markets Australia is, and who actually holds your account
The legal entity Australian retail clients sign onto is International Capital Markets Pty Ltd. The ABN is 12 123 289 109. The Australian Financial Services Licence number is 335692. The head office sits at Level 4, 50 Carrington Street, Sydney NSW 2000. The firm was founded in 2007 and has operated continuously under ASIC oversight since then, which is unusual longevity for a CFD broker in any jurisdiction.
What this means in practice. When you open an account from an Australian address, you are signing onto the ASIC entity, not the CySEC Cyprus arm and not the FSA Seychelles offshore vehicle. Your client agreement is governed by Australian law. Your client money sits in trust at an Australian Tier-1 bank, typically NAB. Your complaint route, if one is ever needed, runs through the Australian Financial Complaints Authority, which has actual statutory teeth.
Verifying this takes thirty seconds. Open ASIC Connect, search the Professional Registers for AFSL 335692, and the licensee details should match International Capital Markets Pty Ltd. From the desk, this is the first check any Australian trader should run on any CFD broker before depositing a cent.
The ASIC entity explained: AFSL 335692 and why it matters
AFSL 335692 is not a marketing badge. It is a regulated financial services licence issued by ASIC that imposes specific obligations on the licensee. Capital adequacy requirements. Client money segregation under Section 981B of the Corporations Act 2001. Mandatory dispute resolution membership. Annual audit of client money handling. Restrictions on how leverage, margin, and CFD products can be marketed to retail clients.
Since March 2021, ASIC has applied a product intervention order to CFD providers in Australia. Maximum retail leverage was reduced to 1:30 on major FX pairs, 1:20 on minor FX and major indices, 1:10 on commodities other than gold, 1:2 on cryptocurrencies, and 1:5 on equities. Negative balance protection became mandatory. Margin close-out at 50 percent of total margin required. Inducements to retail clients were banned, which is why you will not see Australian-resident clients offered deposit bonuses on the ASIC entity.
For Australian retail clients, this set of protections is genuinely meaningful. The leverage cap is conservative compared to the 1:500 or 1:1000 offered by offshore entities, but the trade-off is enforceable client money protection and a real complaints route. The desk view is straightforward. If you are an Australian retail trader and you are choosing between the ASIC entity and an offshore arm of the same broker for the sake of higher leverage, you are usually optimising for the wrong variable.
Get the framework the desk runs every morning. Free. No card. The same institutional structure the MACRO MASTERY desk uses on every read.
Australian client protections: the ASIC matrix
Below is the protection stack that applies specifically to the ASIC entity. This is what AFSL 335692 actually buys an Australian client in 2026.
| Protection | IC Markets ASIC entity | Notes |
|---|---|---|
| Licence | AFSL 335692 | Verifiable on ASIC Connect Professional Registers |
| Regulator | ASIC | Tier-1 supervisor, statutory enforcement powers |
| Client money | Segregated at NAB | Held in trust under Section 981B Corporations Act |
| Retail leverage | 1:30 on majors | Per ASIC product intervention since March 2021 |
| Pro leverage | Up to 1:500 on application | Requires ASIC sophisticated investor criteria |
| Negative balance | Mandatory | Retail clients only, professional clients waive |
| Margin close-out | 50 percent of total margin | ASIC mandate, retail accounts |
| Complaints | AFCA member | Statutory external dispute resolution |
| Inducement ban | Enforced for retail | No deposit bonuses to Australian retail residents |
Side by side with offshore entities, the ASIC stack is the version of IC Markets that gives Australian clients enforceable rights. The desk preference is unambiguous. Australian residents should be on AFSL 335692, full stop.
Apply for the ASIC entity
AFSL 335692, NAB-segregated trust, AFCA dispute route. The local protection stack only applies if you are routed to the Australian entity at signup.
Leverage in Australia: retail 1:30, professional on application
Retail leverage is capped by ASIC, not by IC Markets. Every CFD provider licensed under AFSL has the same numbers. 1:30 on EURUSD, GBPUSD, AUDUSD, USDJPY and the rest of the major FX block. 1:20 on minor FX and major equity indices including the SPI 200, S&P 500 and Nasdaq 100 CFDs. 1:10 on WTI, Brent and base metals. 1:20 on spot gold. 1:5 on individual share CFDs. 1:2 on bitcoin, ether and the rest of the crypto CFD basket.
Professional clients can apply for higher leverage. To be reclassified as a sophisticated or wholesale investor under ASIC rules, an applicant typically needs to demonstrate one of the following. Net assets above 2.5 million Australian dollars certified by a qualified accountant. Gross income of 250 thousand Australian dollars or more for each of the past two financial years, also certified. Or, in some cases, evidence of relevant industry experience and product knowledge sufficient to meet the broker’s internal sophistication test.
Once approved as a professional client at IC Markets Australia, leverage up to 1:500 becomes available on major FX, with margin schedules then mapped to the asset rather than to a single retail cap. Important caveat. Professional categorisation strips out the ASIC retail protections. Negative balance protection is no longer mandatory. Margin close-out at 50 percent does not apply by default. The inducement ban does not protect you. This is the trade-off in plain language, and it is the reason most retail traders should not be chasing professional status purely to push leverage higher.
FCA, ASIC and FSCA regulation. Lloyd’s of London supplementary client-fund insurance up to one million dollars per client. Raw-spread ECN execution.
Local funding methods: BPAY, PayID, POLi and bank transfer
IC Markets Australia funds AUD accounts through domestic Australian payment rails as well as the international card and e-wallet routes. Domestic methods clear faster, cost less, and avoid FX conversion if your base account currency is AUD.
| Method | Speed | Fee | Min | Notes |
|---|---|---|---|---|
| BPAY | 1 to 2 business days | No broker fee | AUD 200 | Cleanest AUD route, ABA system clearing |
| PayID | Near instant | No broker fee | AUD 200 | NPP rail, fastest domestic option |
| POLi | Same day | No broker fee | AUD 200 | Internet banking authorisation |
| Bank transfer | 1 to 3 business days | Bank fees may apply | AUD 200 | Standard Direct Entry, NAB receiving |
| Card (Visa, Mastercard) | Instant | No broker fee | AUD 200 | Card issuer may flag CFD coding |
| Skrill, Neteller | Instant | Wallet fees apply | AUD 200 | FX spread on AUD to USD wallets |
PayID is the desk preference for Australian clients. NPP clearing is effectively real time during business hours, and the funds land at NAB inside the IC Markets segregated trust before the rest of the desk has finished a coffee. BPAY is the fallback for clients whose bank limits PayID, and it still clears inside two business days for free.
Withdrawals follow the same rails. AUD withdrawals back to the originating Australian bank account typically clear inside one to two business days, with the IC Markets internal processing window quoted as same day if the request is logged before the cutoff. From the desk, this is one of the cleanest withdrawal experiences in the Australian CFD market.
Fund an AUD account today
PayID near instant. BPAY in two days, fee-free. Account base currency AUD, segregated at NAB.
Spreads and commission in AUD: the working cost
IC Markets Australia offers three account types under the ASIC entity. Standard, Raw Spread MetaTrader, and Raw Spread cTrader. Australian clients can hold the account base in AUD, USD, EUR, GBP, or several other listed currencies, though AUD is the cleanest choice for residents funding from local accounts.
Working costs run as follows. The Standard account is commission-free, with EURUSD typical spreads quoted from 0.6 to 1.0 pips during liquid hours, scaling wider during Sydney session opens and around news. The Raw Spread MetaTrader account quotes EURUSD from 0.0 pips with a commission of 7 AUD round turn per standard lot. The Raw Spread cTrader account quotes EURUSD from 0.0 pips with a commission of 6 AUD round turn per standard lot. All-in cost across the Raw products lands at roughly 0.6 to 0.8 pip equivalent on EURUSD during normal liquidity, which is competitive against the rest of the ASIC field including Pepperstone Australia and CMC Markets.
Gold (XAUUSD) commission and spread profiles are tighter than most retail brokers in the Australian market, which matters because retail flow on the ASIC entity is heavily concentrated in gold, S&P 500, and the AUDUSD cross. The desk experience matches the public spread data on this. IC Markets Australia is genuinely competitive on cost, and the Raw Spread cTrader account at 6 AUD round turn is one of the cheaper all-in setups available under any Tier-1 regulator in 2026.
For a full breakdown of how the working cost compares against the marketing line, see our IC Markets honest take review and the dedicated country-by-country leverage breakdown for cross-border context.
Account types Australia: Standard, Raw MT, Raw cTrader
Standard suits clients who prefer spread-only pricing and do not want to track commission separately on statements. Cost is slightly higher all-in, but the bookkeeping is simpler and the platform is the same MetaTrader 4 or MetaTrader 5 build. Minimum deposit 200 AUD.
Raw Spread MetaTrader is the desk default for EA and algorithmic traders running on MT4 or MT5, including grid systems, scalpers, and most copy-trade follower configurations. Commission of 7 AUD round turn per standard lot, ECN-style execution, EURUSD from 0.0 pips. Minimum deposit 200 AUD.
Raw Spread cTrader is the desk default for manual discretionary traders who value depth of market visibility, level 2 pricing, and cTrader’s order management. Commission of 6 AUD round turn per standard lot, EURUSD from 0.0 pips. Minimum deposit 200 AUD.
Across all three, the underlying liquidity feed and ASIC client money protections are identical. The only meaningful choices are platform preference and whether your strategy is more sensitive to commission or to typical spread.
ASIC regulated. The desk’s preferred broker for retail macro traders who want the MACRO MASTERY desk overlay alongside the platform.
Trustpilot Australia read: the genuine sentiment
Trustpilot Australia for IC Markets tracks broadly in the 4.6 to 4.8 range across 70,000-plus reviews globally, with the Australian-tagged review subset slightly higher than the offshore-tagged subset. Recurring positive themes include withdrawal speed, platform stability, execution quality on Raw Spread accounts, and customer support responsiveness during Sydney hours. Recurring negative themes, when they appear, concentrate on weekend gaps on highly leveraged crypto positions and the occasional KYC delay during peak Asian onboarding hours.
Cross-reference against BrokerChooser, Finder.com.au, and Canstar’s Australian broker categories. IC Markets Australia consistently scores in the top tier on ASIC-regulated CFD provider comparisons through 2024, 2025, and into 2026. The Sydney HQ is not just a marketing line. The operational centre, support desk, and dealing operations all run out of the Australian office.
A note for UK readers landing on this page
If you are reading this from the United Kingdom, this article does not apply to you. IC Markets does not hold an FCA UK licence, and UK-resident retail clients cannot legally onboard onto the ASIC entity under MiFID and FCA rules. UK retail traders looking for a comparable Tier-1 multi-regulator broker should consider Vantage, which holds FCA United Kingdom 590299, ASIC Australia 428901, and Lloyd’s professional indemnity cover.
UK readers: route to Vantage
FCA 590299, ASIC 428901, Lloyd’s-backed indemnity. The desk pick for UK retail traders.
For everyone else, particularly the Australian retail and professional client cohort this guide is written for, the ASIC entity remains the cleanest local pick, and the application process from a Sydney, Melbourne, Brisbane or Perth address routes straight to AFSL 335692.
ASIC regulated. Raw-spread ECN execution. Built for active intraday forex and index traders who care about cost per round-turn.
FAQ: IC Markets Australia
1. Is IC Markets regulated in Australia?
Yes. International Capital Markets Pty Ltd holds Australian Financial Services Licence 335692, issued and supervised by ASIC. The entity has operated continuously under ASIC since 2007 and is headquartered in Sydney.
2. What is the AFSL number for IC Markets Australia?
AFSL 335692. The full licensee name on ASIC Connect is International Capital Markets Pty Ltd, ABN 12 123 289 109.
3. Where is IC Markets headquartered?
Sydney, New South Wales. The registered office is at Level 4, 50 Carrington Street, Sydney NSW 2000.
4. What is the maximum leverage for retail clients in Australia?
1:30 on major FX pairs, 1:20 on minor FX and major indices, 1:20 on spot gold, 1:10 on other commodities, 1:5 on share CFDs, and 1:2 on cryptocurrency CFDs. These caps are set by ASIC under the product intervention order in force since March 2021.
5. Can Australian professional clients access higher leverage?
Yes. Professional clients meeting ASIC sophisticated investor criteria, typically net assets above 2.5 million AUD or gross income above 250 thousand AUD for two consecutive years certified by a qualified accountant, can apply for leverage up to 1:500. Professional categorisation strips out the retail protections including mandatory negative balance protection.
6. Where are Australian client funds held?
In segregated trust accounts at a Tier-1 Australian bank, typically National Australia Bank (NAB). Client money is held under Section 981B of the Corporations Act 2001 and is not available to IC Markets’s creditors in the event of insolvency.
7. What is the minimum deposit at IC Markets Australia?
200 Australian dollars across all account types, including Standard, Raw Spread MetaTrader, and Raw Spread cTrader.
8. Does IC Markets Australia support BPAY and PayID?
Yes. Both BPAY and PayID are supported for AUD deposits. PayID clears near instantly through the NPP rail, BPAY clears inside one to two business days, and both are fee-free at the broker side.
9. Is negative balance protection guaranteed in Australia?
For retail clients, yes. ASIC mandates negative balance protection on all retail CFD accounts since March 2021. Professional clients waive this protection on reclassification.
10. Does IC Markets Australia offer AUD account base currency?
Yes. AUD is one of the supported base currencies alongside USD, EUR, GBP, and several others. For Australian residents funding from local bank accounts, AUD base is the cleanest setup to avoid conversion costs.
11. How do I file a complaint against IC Markets Australia?
Internal complaints first to the IC Markets compliance team. If unresolved, escalation to the Australian Financial Complaints Authority (AFCA), of which IC Markets is a mandatory member under AFSL conditions.
12. Can UK residents open an IC Markets Australia account?
No. UK retail residents cannot legally onboard onto the ASIC entity, and IC Markets does not hold an FCA United Kingdom licence. UK readers should consider Vantage (FCA 590299, ASIC 428901) as the comparable Tier-1 alternative.
The desk verdict
For Australian retail and professional clients, AFSL 335692 is the home pick. Tier-1 protection, NAB-segregated funds, local payment rails, AUD base. The cleanest setup in the local CFD market in 2026.
Open an IC Markets Australia account
CFDs are leveraged. ASIC product intervention applies. Capital at risk.
Related from the desk
Related from the desk
- IC Markets 2026 review, the honest desk take
- IC Markets leverage by country in 2026
- Is IC Markets a scam in 2026, the honest answer
Sources. ASIC Connect Professional Registers (search AFSL 335692). IC Markets official website (icmarkets.com.au). FXEmpire Australia. BrokerChooser. Finder.com.au. Canstar broker comparisons. ASIC product intervention order, March 2021. Corporations Act 2001, Section 981B. Australian Financial Complaints Authority membership register.
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