The IC Markets referral code is 89420. This code — also called an Introducing Broker code or IB code on the IC Markets platform — is entered during registration to unlock Raw Spread pricing from 0.0 pips and leverage up to 1:5000 on eligible account types. When you register through the referral link with this code, your account is connected to enhanced trading conditions that standard direct registrations may not provide. The code must be applied during account creation. Currently active.

Many traders search for "IC Markets referral code" without understanding exactly what it does or where to enter it. The explanation is straightforward.

An IC Markets referral code — which the platform officially calls an Introducing Broker code or IB code — is a registration identifier that connects your new trading account to a specific partner within the IC Markets ecosystem. When you use code 89420 during registration, your account gains access to the partner's enhanced conditions including Raw Spread pricing and high leverage tiers.

The code does not alter IC Markets' core infrastructure. Your orders are still executed through IC Markets' True ECN environment with the same liquidity providers, the same Equinix server locations, and the same sub-40ms execution speed. What the code does is ensure your account is configured with the best available conditions from the moment it is created.

Some traders search for "IC Markets IB code," "IC Markets introducing broker code," or "IC Markets partner code." These all refer to the same field on the registration form. Code 89420 works regardless of which term you search for.

The simplest method is to register through the referral link at the top of this page. When you use that link, code 89420 is embedded in the URL and applied to your account automatically without manual entry.

If you register directly through the IC Markets website (now rebranded as IC.com), look for the referral code, IB code, or campaign field during the account opening process. Enter 89420 — five digits, no spaces, no letters. Verify the code is accepted before completing registration.

Fill in your personal details — full name, email address, date of birth, country of residence, and phone number. IC Markets requires accurate information because identity verification follows immediately.

Complete KYC verification by uploading a government-issued photo ID (passport, national ID, or driver's license) and proof of address (utility bill or bank statement dated within six months). IC Markets typically processes verification within one business day, though many accounts are approved within hours.

After verification, choose your account type. IC Markets offers three options — Standard, Raw Spread (MetaTrader 4/5), and Raw Spread (cTrader). For traders who want the tightest possible spreads, the Raw Spread accounts are the clear choice.

Deposit a minimum of $200. IC Markets supports bank wire transfers, Visa, Mastercard, PayPal, Skrill, Neteller, UnionPay, Bpay, FasaPay, and Poli, depending on your region. No deposit fees are charged by IC Markets on most methods.

Download your chosen platform — MT4, MT5, cTrader, or TradingView — log in with your account credentials, and start trading. The referral code conditions are active from your first trade.

Raw Spread pricing is IC Markets' defining feature and one of the primary reasons traders seek out the referral code.

On a Standard account, all trading costs are embedded in the spread. The spread on EUR/USD starts from 0.8 pips with no separate commission. This is simple but the effective cost per trade is higher because the spread includes the broker's markup.

On a Raw Spread account, IC Markets strips away the markup entirely. You see the raw interbank spread — the actual price difference between buyers and sellers in the wholesale market. On EUR/USD, this raw spread frequently hits 0.0 pips during peak liquidity hours (London-New York overlap). The average raw spread on EUR/USD is approximately 0.1 pips — among the lowest in the retail brokerage industry.

The tradeoff is a fixed commission. On MetaTrader 4 and MetaTrader 5 Raw Spread accounts, the commission is $3.50 per standard lot per side ($7 round turn). On cTrader Raw Spread accounts, the commission is lower — $3.00 per side ($6 round turn).

For active traders, especially scalpers and algorithmic operators, the Raw Spread model is significantly cheaper than the Standard model. A scalper executing 50 lots per day on EUR/USD pays approximately $350 in commission on the MetaTrader Raw account. On the Standard account, the same trader would pay approximately $400 to $500 in spread costs. The Raw Spread account saves $50 to $150 per day — $1,100 to $3,300 per month.

The IC Markets referral code 89420 ensures your account has access to these Raw Spread conditions from the first trade.

IC Markets offers leverage that scales based on your regulatory entity and account configuration. Through referral code 89420, eligible accounts can access leverage up to 1:5000 — among the highest available from any regulated broker.

At 1:5000 leverage, a $200 deposit controls up to $1,000,000 in notional value. This extreme leverage is not recommended for beginners — a 0.02% adverse price movement at 1:5000 would consume the entire margin. But for experienced traders with precise risk management, high leverage provides maximum capital efficiency. You control the same position size with far less margin committed, freeing capital for additional positions or as a drawdown buffer.

Leverage availability depends on your regulatory jurisdiction. Accounts under ASIC (Australia) are capped at 1:30 for retail clients. CySEC (Cyprus/EU) accounts are capped at 1:30 for retail and up to 1:500 for professional clients. FSA (Seychelles) entity accounts offer the highest leverage tiers. The referral code 89420 connects you to the entity and configuration that provides the maximum available leverage for your jurisdiction.

Regardless of leverage level, IC Markets provides negative balance protection. Your account cannot go below zero. In extreme market events where price gaps through your stop-loss, IC Markets absorbs the negative balance.

IC Markets — recently rebranded as IC.com — was founded in Sydney in 2007 with the specific mission of bridging the gap between retail and institutional trading. Nearly two decades later, it remains the benchmark that other brokers measure themselves against.

The broker processes over $29 billion in daily forex trading volume — one of the highest figures in the industry. This volume is not just a vanity metric. High processing volume means deep liquidity pools, tighter spreads, and better fill quality for every trader on the platform.

Over 200,000 active clients across 200 countries trade on IC Markets. The broker maintains a 4.8-star rating on Trustpilot across 55,000+ reviews — one of the highest satisfaction scores of any broker globally. 92% of reviews give 5 stars.

Execution infrastructure is built on Equinix data centers in New York (NY4) and London (LD5) — the same facilities used by major banks and hedge funds. Order execution speed averages under 40 milliseconds. This institutional-grade infrastructure is available to every retail client who opens an account with IC Markets referral code 89420.

The IC Markets referral code 89420 unlocks access to one of the broadest instrument ranges in retail trading.

In forex, 61 currency pairs cover every major, minor, and a wide selection of exotics. Raw spreads on major pairs frequently reach 0.0 pips during peak sessions.

In stocks, over 2,100 CFDs provide exposure to individual shares from US, European, and Australian exchanges. This is one of the largest stock CFD selections available from any broker.

In indices, 25 global stock indices are available including the S&P 500, NASDAQ, Dow Jones, DAX, FTSE 100, Nikkei 225, ASX 200, and more.

In commodities, 28 markets cover precious metals (gold, silver, platinum, palladium), energy (WTI, Brent, natural gas), and agricultural products.

In bonds, 9 government bond CFDs provide fixed-income exposure. Futures CFDs and cryptocurrency CFDs round out the offering.

Every instrument across every asset class benefits from the Raw Spread pricing and high leverage conditions activated by referral code 89420.

IC Markets supports more platforms than most brokers, and the referral code works identically across all of them.

MetaTrader 4 remains the industry standard for forex and CFD trading. Full Expert Advisor support, one-click trading, and decades of community-developed indicators and scripts. The Raw Spread commission on MT4 is $3.50 per side.

MetaTrader 5 adds more timeframes, more order types, depth of market, an integrated economic calendar, and a more powerful strategy tester for backtesting EAs. Same $3.50 per side commission on Raw Spread.

cTrader offers a modern, clean interface with advanced charting, Level II pricing, and the lowest Raw Spread commission — $3.00 per side ($6 round turn). For traders who prioritize commission cost, cTrader is the optimal choice.

TradingView integration provides IC Markets' execution through TradingView's charting environment — the most popular charting platform among retail traders globally. Trade directly from TradingView charts with your IC Markets account.

The referral code 89420 is linked to your account, not to a platform. Switch between MT4, MT5, cTrader, and TradingView freely. Your conditions remain the same.

IC Markets offers copy trading through multiple integrations — IC Social (the broker's own system), Myfxbook AutoTrade, ZuluTrade, and MetaTrader Signals.

These systems allow you to browse experienced traders, review their verified performance records, and set your account to replicate their positions automatically. When the trader you follow opens a position, the same position opens on your account proportionally.

Every copied trade is executed through IC Markets' infrastructure with the same Raw Spread pricing and execution speed as manual trades. The referral code 89420 conditions apply to copied trades equally.

For traders who lack the time or experience to manage positions actively, copy trading provides access to professional-grade strategies while benefiting from IC Markets' ultra-low-cost execution environment.

IC Markets provides swap-free Islamic accounts for traders who require Sharia-compliant conditions. The conversion removes overnight swap charges and replaces them with a compliant fee structure.

The IC Markets referral code 89420 works fully on Islamic accounts. Raw Spread pricing, high leverage, and all platform options are available. There is no reduced service tier for Islamic accounts — everything operates identically to standard accounts except for the swap mechanism.

IC Markets is a True ECN broker. This term gets thrown around by many brokers who do not actually qualify, so understanding what it means at IC Markets specifically is important.

In a standard dealing desk model, the broker takes the opposite side of your trade. When you buy, the broker sells to you. This creates a conflict of interest — the broker profits when you lose. Requotes, slippage manipulation, and stop-loss hunting are symptoms of this model.

In IC Markets' True ECN model, your order is routed directly to a pool of liquidity providers — major banks, hedge funds, and other institutional participants. IC Markets does not trade against you. The broker earns its revenue from the commission on Raw Spread accounts and the spread markup on Standard accounts. Your winning trade is not the broker's loss.

This structural transparency is why IC Markets attracts professional and algorithmic traders who need assurance that their orders are filled fairly. The referral code 89420 places you within this True ECN environment from trade one.

IC Markets operates servers in Equinix NY4 (New York) and Equinix LD5 (London) — the same data centers used by the world's largest banks, hedge funds, and high-frequency trading firms. Average execution speed is under 40 milliseconds.

The broker connects to 25+ liquidity providers, creating a deep pool where even large orders find counterparties without significant price impact. For institutional-size retail traders executing 50 to 100 lots at a time, this depth ensures consistent fill quality.

The infrastructure handles over 500,000 trades per day and processes more than $29 billion in daily forex volume. These are not theoretical capacity numbers — they represent actual daily throughput.

For algorithmic traders, IC Markets provides FIX API connectivity alongside the standard MT4/MT5/cTrader APIs. Low-latency order routing combined with Raw Spread pricing from 0.0 pips creates an environment where micro-second-sensitive strategies can operate profitably.

IC Markets is not designed for everyone. Understanding who benefits most helps you decide if referral code 89420 is worth using.

Scalpers who execute dozens of trades per day benefit from 0.0-pip raw spreads and sub-40ms execution. Every fraction of a pip matters when targets are 3 to 10 pips. IC Markets' pricing and speed are built for this style.

Algorithmic and EA traders benefit from the True ECN model that ensures fair execution of automated orders. No dealer intervention, no requotes, consistent fills across thousands of automated trades per day. FIX API access for strategies that need the lowest possible latency.

Day traders who hold positions for hours benefit from tight spreads reducing entry cost and improving break-even points on every trade. The Raw Spread account's transparent commission structure makes cost calculation predictable.

High-volume traders who generate substantial monthly lots benefit from the volume rebate program. Combined with the referral code's Raw Spread pricing, the effective per-trade cost at high volume is among the lowest in the industry.

Swing traders who hold for days or weeks benefit from IC Markets' deep liquidity and reliable execution on entries and exits. While commission costs are less impactful at lower trade frequency, the quality of execution on each individual trade matters more.

Copy trading users who want their copied positions executed at institutional-grade quality benefit from IC Markets' infrastructure running behind IC Social, ZuluTrade, and Myfxbook integrations.

For beginners with less than $200 to invest or those who need extensive educational hand-holding, IC Markets may not be the ideal starting point. The $200 minimum deposit and technical platform focus are designed for traders who already understand the basics.

If your existing IC Markets account was created without a referral code, the code typically cannot be applied retroactively.

However, IC Markets allows traders to open additional accounts. You can create a new account through the referral link with code 89420 applied. Transfer funds from your old account to the new one. Your existing account remains active with its full trade history.

Contact IC Markets support to confirm the process for your specific situation, as procedures may vary by entity and account type.

Not entering the referral code during registration. The code field may not be prominently displayed. Use the referral link for automatic application.

Choosing the Standard account when you could use Raw Spread. For active traders, the Raw Spread account with its 0.0 pip spreads and fixed commission is almost always cheaper than the Standard account's wider spreads.

Selecting cTrader without realizing the commission is lower. cTrader's $3.00 per side saves $1.00 per round turn versus MetaTrader's $3.50 per side. Over thousands of trades, this adds up.

Not using TradingView when it is available. If you already chart on TradingView, connecting your IC Markets account lets you trade directly from charts you are already watching.

Using maximum leverage without strict risk management. 1:5000 is a tool for precision, not for recklessness.

The IC Markets referral code is 89420. It is also called an Introducing Broker code or IB code on the platform. It activates Raw Spread pricing from 0.0 pips and leverage up to 1:5000 on eligible accounts.

Yes. Referral code, IB code, introducing broker code, and partner code all refer to the same field. Code 89420 works for all.

Register through the referral link for automatic application. Or enter 89420 in the referral/IB code field during account setup on the IC Markets website.

Raw Spread accounts start from 0.0 pips with an average of 0.1 pips on EUR/USD. Standard accounts start from 0.8 pips.

$3.50 per lot per side ($7 round turn) on MT4/MT5. $3.00 per side ($6 round turn) on cTrader.

Up to 1:5000 on eligible accounts. Varies by regulatory entity — ASIC/CySEC retail clients are capped at lower ratios.

$200 for all live account types.

Yes. Swap-free accounts available. Referral code 89420 applies fully.

Under 40 milliseconds on average. Equinix NY4 and LD5 data centers.

Over 2,250 including 61 forex pairs, 2,100+ stocks, 25 indices, 28 commodities, bonds, futures, and crypto.

MetaTrader 4, MetaTrader 5, cTrader, and TradingView.

Yes. Through IC Social, Myfxbook, ZuluTrade, and MetaTrader Signals.

Typically not. Open a new account through the referral link if you registered without it.

Yes. ASIC (Australia), CySEC (Cyprus), and FSA (Seychelles). Operating since 2007. 4.8/5 Trustpilot rating across 55,000+ reviews.

Yes. Your account cannot go below zero regardless of market conditions.