Broker entity check
IC Markets is a brand, not a company. The company you get is chosen by your address. Below: the verdict for all 12 countries in our dataset, the entity behind each, and its regulator — checked on October 22, 2026.
Facts checked on October 22, 2026
Australians, Europeans and Kenyans get real local entities. Everyone else gets Raw Trading Ltd in Seychelles — including the many countries where IC Markets advertises hardest.
Advertised minimum deposit: $200 — that is the accepted minimum from the platform's own pages. The viable minimum on your rails is on your country's page; the two numbers are rarely the same story.
| Your country | Verdict | The entity that would hold your account | Its regulator | Home-regulator status |
|---|---|---|---|---|
| Nigeria | Deposit with eyes open — offshore entity | Raw Trading Ltd | FSA Seychelles | |
| India | Your regulator warns against this route | Raw Trading Ltd | FSA Seychelles | Named on the RBI Alert List |
| Philippines | Deposit with eyes open — offshore entity | Raw Trading Ltd | FSA Seychelles | |
| Brazil | Your regulator warns against this route | Raw Trading Ltd | FSA Seychelles | Named on a CVM declaratory act (Ato Declaratório 19.505, January 2022) |
| South Africa | Deposit with eyes open — offshore entity | Raw Trading Ltd | FSA Seychelles | |
| Pakistan | Your regulator warns against this route | Raw Trading Ltd | FSA Seychelles | Home-regulator position bars or warns against this route |
| Kenya | Deposit has real protection | IC Markets (KE) Limited | CMA (Kenya) | |
| Indonesia | Your regulator warns against this route | Raw Trading Ltd | FSA Seychelles | Home-regulator position bars or warns against this route |
| United States | Not accepted — don't try workarounds | Does not accept residents | — | |
| United Kingdom | Deposit with eyes open — offshore entity | Raw Trading Ltd | FSA Seychelles | |
| European Union (EEA) | Deposit has real protection | IC Markets (EU) Ltd | CySEC (Cyprus) | |
| Australia | Deposit has real protection | International Capital Markets Pty Ltd | ASIC (Australia) |
Run your exact pair through the checker for the five-line verdict with your regulator's status and your rails.
The free check gives you the verdict for one country and one broker. The Deposit Safety Kit gives you the complete walkthroughs: how to verify the entity in the broker's own legal footer, where on your regulator's site the register and the warning lists live, how to read a compensation scheme, and the first-withdrawal test protocol — deposit small, withdraw first, then decide.
Included in the $39 Deposit Safety Kit
Sources: the brokers' own legal and entity pages as published on the check date; the Reserve Bank of India Alert List; the UK Financial Conduct Authority Register and Warning List; the Australian Securities and Investments Commission registers; Bappebti (Indonesia) licensed and blocked lists; CVM (Brazil) declaratory acts; the FSCA (South Africa) FSP register; the Capital Markets Authority (Kenya) licensee list; the Securities and Exchange Commission (Philippines) advisory list; SECP/PMEX (Pakistan) membership; SEC Nigeria and Central Bank of Nigeria publications. Affiliate bounty figures from the programs' own published terms (Exness, XM, Plus500, eToro affiliate pages). If a fact has moved since our check date, the regulator's or broker's own publication wins — and write to help@doogex.com so we can correct ours.