IC Markets Cashback and Rebates in 2026: How Raw Trader Plus Works, Honest Numbers
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By Ken Chigbo, Founder, KenMacro, 18-plus years in markets, London trading floor and institutional FX.
Quick answer
The IC Markets rebate is delivered through Raw Trader Plus, the broker’s active-trader loyalty programme. It pays a tier-based commission discount per round-turn lot on Raw Spread accounts, with higher monthly volume earning higher rebates. There are no welcome bonuses or deposit-match offers because ASIC and CySEC ban them, and that absence is honest, not a gap. Verify the current tier dollar values on the official IC Markets Raw Trader Plus page before enrolling.
The ic markets rebate question matters more than most traders realise, because commission is the single largest controllable cost at a true ECN broker. If you trade 20 round-turn lots a month on Raw Spread and you are not enrolled in Raw Trader Plus, you are leaving money on the table every single trade. This guide breaks down exactly how the programme works, why the absence of cash welcome bonuses is a sign of regulatory quality not weakness, what the volume-tier mechanics look like, and how to compute the cost leak in your own account so the enrolment decision becomes obvious. We also compare going direct against the third-party cashback aggregators, because the right answer is not always what the affiliate noise suggests.
Quick verdict on IC Markets rebates
IC Markets is regulated by ASIC (AFSL 335692), CySEC (362/18) and the FSA Seychelles (SD018). There is no FCA UK entity, so UK retail clients are routed through the CySEC or Seychelles books. The desk view on Raw Trader Plus is simple: if you trade 10 or more round-turn lots per month on a Raw Spread account, you should be enrolled. The rebate compounds across every trade you would have placed anyway, so the marginal cost of joining is zero and the marginal benefit scales linearly with volume. Below 10 lots a month the absolute rebate value is small enough that the optimisation does not move the needle, but enrolment is still free and still worth doing.
If you are a UK retail trader who wants FCA cover sitting above your account, Vantage remains the cleaner pick and we covered that decision tree in the IC Markets honest review. If you are outside the UK, run cTrader, scalp tight spreads, or care about raw cost above all else, IC Markets sits at or near the top of the cost league table and Raw Trader Plus tightens that further.
Already on a Raw Spread account? Enrol in Raw Trader Plus before your next trading session and the rebate starts compounding immediately.
Affiliate link. CFDs carry significant risk of loss.
What Raw Trader Plus actually is
Raw Trader Plus is IC Markets’ active-trader loyalty programme. It applies exclusively to Raw Spread accounts (both MetaTrader and cTrader variants), and it rebates a portion of the round-turn commission back to your trading balance based on monthly traded volume measured in standard lots. The standard Raw Spread commission is 7 USD per round-turn lot on MetaTrader and 6 USD on cTrader. Raw Trader Plus discounts that figure progressively, with the discount widening as your monthly volume crosses defined tier thresholds.
Three structural features of the programme matter. First, the rebate is applied per round-turn lot, not per trade, so a single 5-lot position counts the same as five 1-lot positions. Second, the volume measurement window resets monthly, so a strong month does not lock in the higher tier for the following month. Third, the rebate accrues to your trading account, not to a separate cashback wallet, so it is immediately usable as margin or withdrawable through the standard payment routes covered in the IC Markets true cost guide.
One housekeeping point: the published tier dollar values do shift periodically, both in absolute terms and in the threshold lot counts. The desk recommends verifying the current numbers on the official IC Markets Raw Trader Plus page before making sizing decisions based on a particular rebate figure. The mechanics in this guide are stable; the exact dollar values are what moves.
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Why ASIC and CySEC ban deposit bonuses, and why that is good news
If you have shopped brokers before, you have seen the offers: 100 percent deposit match up to 5,000 USD, 50 percent welcome bonus, free credit on first deposit. None of that is available at IC Markets. The reason is regulatory, not commercial. ASIC banned cash deposit bonuses for retail clients in 2018 under product intervention measures, and ESMA (which CySEC follows) implemented the same ban across the EU. The logic is straightforward: deposit bonuses encourage over-leveraging, lock client funds against trading volume requirements that often cannot be met, and historically correlated with elevated client losses.
The honest framing is this. A broker offering a 100 percent deposit match on your 1,000 USD deposit is not giving you 1,000 USD. They are extending you 1,000 USD of phantom credit that converts to real money only after you trade 100 standard lots, by which point the spread and commission cost has already taken 700 USD back. Bonuses are marketing not value. Their absence at IC Markets is a sign that the broker is regulated by jurisdictions that take retail protection seriously.
What Raw Trader Plus does instead is the regulatory-safe alternative: a transparent rebate that pays on actual traded volume, without locking deposits, without minimum hold periods, and without the asymmetric structures that bonus schemes wrap around the client. It is less marketable. It is also genuinely useful.
FCA, ASIC and FSCA regulation. Lloyd’s of London supplementary client-fund insurance up to one million dollars per client. Raw-spread ECN execution.
Volume-tier rebate mechanics
The Raw Trader Plus rebate ladder works on monthly traded volume measured in standard lots across all Raw Spread accounts under the same client profile. The progression is tiered, not linear, so crossing a threshold unlocks a higher per-lot rebate on the trades placed after the threshold is hit. The exact dollar values per tier are published by IC Markets and updated periodically, so the table below uses representative ranges anchored to the publicly documented commission stack (7 USD MT round-turn, 6 USD cTrader round-turn). Verify the current numbers on the official Raw Trader Plus page before using them in capital planning.
| Monthly lots (Raw Spread) | Indicative rebate per round-turn lot | Effective net commission | Annualised rebate at this volume |
|---|---|---|---|
| 1 to 9 lots | Entry tier (small / verify) | ~7.00 USD MT / 6.00 USD cT | Under 100 USD |
| 10 to 49 lots | Tier 1 (verify on IC Markets page) | Mid-6 USD MT range | ~100 to 500 USD |
| 50 to 149 lots | Tier 2 (verify on IC Markets page) | Mid-6 USD MT range, lower | ~500 to 1,800 USD |
| 150 to 499 lots | Tier 3 (verify on IC Markets page) | Low-6 USD MT range | ~1,800 to 6,000 USD |
| 500-plus lots | Top tier (verify on IC Markets page) | Sub-6 USD MT range | 6,000-plus USD |
Indicative ranges only. Confirm exact tier figures on the official IC Markets Raw Trader Plus page before sizing any decision on them.
A note on what the ladder actually changes. At entry-tier volume, the absolute dollar rebate is genuinely small and the rebate is more a habit-builder than a meaningful cost reduction. From Tier 1 upward, the rebate begins to fund non-trivial parts of your monthly costs. By the time you cross 150 lots a month, the rebate alone covers a meaningful chunk of your platform, data and infrastructure stack. Above 500 lots a month, you are operating in the territory where the rebate negotiation can be conducted directly with the IC Markets institutional desk, and the standard published tiers stop being the binding constraint.
Want the tier breakdown applied to your own volume? Open Raw Spread, enrol Raw Trader Plus, and the rebate begins compounding on the next round-turn lot you trade.
Affiliate link. CFDs carry significant risk of loss.
The cost-leak math at typical lot volumes
Abstract tiers are abstract. The decision becomes obvious only when you put your own volume into the equation. Below is the annualised savings table at three example trader profiles, using mid-range indicative rebate values. Treat the dollar figures as illustrative, then re-run the math with the current verified tier numbers from IC Markets to ground the decision in real values.
| Trader profile | Monthly lots | Indicative rebate / lot | Annualised rebate |
|---|---|---|---|
| Part-time swing trader | 15 lots | ~1.00 USD (tier 1, illustrative) | ~180 USD / year |
| Day trader, 2-3 trades per session | 75 lots | ~1.50 USD (tier 2, illustrative) | ~1,350 USD / year |
| Algo / multi-strategy systematic | 300 lots | ~2.00 USD (tier 3, illustrative) | ~7,200 USD / year |
Two observations. First, even at the part-time swing-trader profile, 180 USD a year is a year of TradingView Pro, a Bloomberg Trader Talk subscription, or two thirds of a typical macro newsletter. Second, the day-trader profile produces a rebate roughly equal to a typical part-time trader’s annual data and tooling spend. That is not a small optimisation; that is the entire research stack paid for, with nothing changed in the trading itself.
The phrase the desk uses internally is: rebate is the only free alpha. Every basis point of cost you eliminate is a basis point you do not need to earn back through edge. For systematic traders running tight-margin strategies, the rebate ladder can be the difference between a profitable Sharpe and a marginal one.
ASIC regulated. The desk’s preferred broker for retail macro traders who want the MACRO MASTERY desk overlay alongside the platform.
Raw Trader Plus vs third-party cashback aggregators
You will see third-party cashback sites offering to pay rebates on IC Markets trades: CashbackForex, ForexCashback, PipRebate and a handful of others. The pitch is that they capture a portion of the introducing-broker commission IC Markets pays them and rebate it back to you. The math sometimes looks attractive, occasionally even higher than the equivalent Raw Trader Plus tier at modest volumes.
The desk takes a clear position here: go direct on Raw Trader Plus rather than route through a third-party aggregator. Four reasons.
- Single counterparty. Raw Trader Plus rebates accrue inside IC Markets and are subject to the same ASIC / CySEC client-money rules as your trading balance. Third-party rebates depend on the aggregator’s solvency, payment cadence, and dispute process, which sit outside the broker’s regulatory perimeter.
- Payment cadence and friction. Raw Trader Plus credits the trading account in the normal monthly cycle. Aggregators typically require minimum balances, separate withdrawal requests, and routes that introduce another layer of FX conversion friction. The cost guide for that conversion bleed is in the true cost piece.
- Account-level support. Going direct means you stay on the IC Markets institutional escalation path. Aggregators occasionally complicate support tickets, because the broker can argue the IB owns the relationship.
- Long-term tier scaling. Once your monthly volume crosses Tier 3 territory, the institutional desk at IC Markets can negotiate bespoke commission directly. That door is open only to traders enrolled in Raw Trader Plus, not to traders routed through an external aggregator.
There is one defensible reason to use a third-party aggregator: if you are trading at multiple brokers and you want a single rebate dashboard across all of them, the aggregator simplifies reporting. For IC Markets specifically, Raw Trader Plus wins on every other axis. If you are running a Raw Spread vs Standard account decision before you enrol, the Raw Spread vs Standard breakdown covers the prerequisite choice.
ASIC regulated. Raw-spread ECN execution. Built for active intraday forex and index traders who care about cost per round-turn.
How to enrol in Raw Trader Plus
The enrolment flow is straightforward. The friction is small enough that the only reason eligible traders are not in the programme is that they have not got round to it.
- Confirm your account type is Raw Spread (MetaTrader 4, MetaTrader 5 or cTrader). Standard accounts are not eligible because their cost model is spread-only with no commission to rebate. If you are on Standard, the right path is usually to open an additional Raw Spread account rather than convert the existing one.
- Log in to the IC Markets Secure Client Area at the URL in your welcome email.
- Navigate to the Raw Trader Plus section, typically inside the Promotions or Loyalty Programme menu in the Client Area.
- Read the current tier schedule on the page itself and confirm the active tier dollar values, then opt in via the enrolment button.
- Verify enrolment status. The active tier indicator should appear in your Client Area once your first trade after enrolment clears.
- Trade as normal. Rebates accrue automatically against your traded volume each calendar month. There is no separate claim process.
Two operational notes. The enrolment is per-client-profile, not per-account, so all your Raw Spread accounts under the same profile contribute to the monthly volume tally. And the rebate posts after month-end, not in real time, so a strong week shows up on your account in the following billing cycle.
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Frequently asked questions
What is the IC Markets rebate and how does Raw Trader Plus relate to it?
The IC Markets rebate is the commission discount paid through Raw Trader Plus, the broker’s active-trader loyalty programme. It applies to Raw Spread accounts on MetaTrader and cTrader, and it rebates a tier-based amount per round-turn lot based on your monthly traded volume.
Is Raw Trader Plus free to join?
Yes. Enrolment is free, requires no minimum deposit beyond the standard IC Markets 200 USD minimum, and carries no lock-in. The only requirement is an active Raw Spread account.
Does Raw Trader Plus work on Standard accounts?
No. Standard accounts use a spread-only pricing model with no separate commission, so there is no commission to rebate. The programme is exclusive to Raw Spread accounts on both MetaTrader and cTrader.
Why does IC Markets not offer a welcome bonus or deposit match?
ASIC and CySEC ban cash deposit bonuses for retail clients under product intervention rules. The ban is a regulatory protection, not a broker choice. Raw Trader Plus is the regulatory-safe alternative: a transparent volume-based rebate with no lock-up or asymmetric terms.
How much can I expect to save with the IC Markets rebate?
It depends on monthly traded volume. A part-time trader at 15 lots a month might recover around 180 USD a year. A day trader at 75 lots a month is in the 1,000 to 1,500 USD a year range. A systematic trader at 300 lots a month can recover 6,000 to 8,000 USD a year. Verify the current tier values on the IC Markets page to ground your own figure.
Is the rebate per round-turn lot or per side?
Per round-turn lot. One full open-and-close on a 1-lot trade equals one round-turn lot for rebate purposes. A 5-lot position is 5 round-turn lots when closed.
Does the rebate accrue in real time?
No. Rebates accrue based on monthly traded volume and post to your trading account after month-end. There is no in-trade rebate display, though Raw Trader Plus tier status updates dynamically as your volume grows during the month.
Can I combine Raw Trader Plus with a third-party cashback aggregator?
In most cases the two are mutually exclusive. If you sign up via a third-party introducing broker route, that IB receives the commission share and you typically cannot also stack the direct Raw Trader Plus rebate. Going direct is the cleaner economic path.
Does Raw Trader Plus apply to cTrader Raw Spread as well as MetaTrader Raw Spread?
Yes. Both Raw Spread variants are eligible. The base commission differs (7 USD round-turn on MetaTrader, 6 USD on cTrader), so the effective net commission after rebate also differs slightly between platforms.
What happens if I do not hit the higher tier in a given month?
You drop to the tier matching your actual monthly volume. There is no penalty and no reset to entry tier; the system simply pays the rebate at the tier you qualify for that month. The following month resets the volume measurement.
Can I withdraw the rebate or does it have to stay in the account?
The rebate accrues to your trading balance and is withdrawable through the standard IC Markets payment routes. There is no trading-volume lock or hold period attached to the rebate itself.
Is the rebate taxable?
That depends on your jurisdiction and tax treatment of trading activity. In many jurisdictions rebates are treated as a reduction of trading cost rather than as income, but rules vary. The desk is not a tax adviser; speak to a qualified tax professional for your circumstances.
Every month you trade Raw Spread without Raw Trader Plus is a month of leaked commission. Open the account, enrol, and the rebate compounds from the next trade onward.
Affiliate link. CFDs carry significant risk of loss.
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Sources: IC Markets Raw Trader Plus public programme page, IC Markets Raw Spread commission documentation, ASIC AFSL register 335692, CySEC public register 362/18, FSA Seychelles SD018, ASIC product intervention orders on retail client bonuses (2018), ESMA product intervention measures on retail CFDs, internal desk testing of commission and rebate flows 2025-2026.
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