Is IC Markets Regulated in Malaysia? Who Signs You at ic.com

Is IC Markets regulated in Malaysia? Not on anything this desk read on 18 October 2026. The regulation page IC Markets’ global site redirected to, at ic.com, names one company, Raw Trading Ltd, licensed by the Seychelles Financial Services Authority as a Securities Dealer under SD018. No Bank Negara Malaysia or Securities Commission Malaysia licence appears on the pages read.

That is an evergreen question with a dated answer. Nothing in this piece is news; it is a status check, and the part that expires is the date on it. The reason to run the check now is that the IC Markets global regulation path, requested this run, landed on a page at ic.com headed simply Regulation, and the company on that page is the one a reader should be measuring, not the logo above it.

Is IC Markets regulated in Malaysia, entity by entity?

A brand is a legend on the map; the companies are the territory. IC Markets is a group, and the honest answer has one row per company. Only the first row below was read from a primary page this run. The others come from competing reviews and were not checked against the regulators’ own registers for this piece, so each is attributed to the review that prints it.

The row that matters to a reader in Kuala Lumpur is the first one, because it is the company the broker’s current page puts in front of the client. The Australian and Cypriot licences are real on the reviews’ account, and they belong to the companies that hold them. A Tier-1 licence in a group’s history is not protection for a client onboarded by the group’s Seychelles company. This site drew the same line for Tickmill’s Seychelles signer, and the shape repeats here almost exactly.

Which IC Markets company signs a Malaysian client?

On the page read, Raw Trading Ltd. The ic.com regulation page says, in its own words, that IC and IC Markets Global are the trading names of Raw Trading Ltd, which is regulated by the Seychelles FSA with Securities Dealer’s licence number SD018. Lower down it gives the company’s Seychelles registration number, 8419879-1, and repeats the licence in a second form: Raw Trading Ltd is authorised by the Seychelles Financial Services Authority as a Securities Dealer for the provision of financial services under licence SD018.

The regulator’s side of that matches. The FSA Seychelles capital markets page, read the same day, lists Raw Trading Ltd at Eden House, 1st Floor, Eden Island, Mahe, with the trade name IC Markets Global and IC MARKETS (SC), in its securities dealer listings. The licence number itself did not appear in the lines this desk read from the register, so SD018 is sourced to the firm’s page and the listing to the FSA. Footer and register agree on the company and the trade name.

Two limits, stated once. This desk read the regulation page as served to a plain fetch; a reader arriving through an introducing partner, an app store listing or a different IC Markets domain could be shown a different company. And the requested Australian regulation path landed on the same ic.com page in this run’s fetch, which may be routing by location or by client rather than a statement about the Australian company. It is not evidence that the ASIC licence has gone, and this piece does not say so. The counterparty printed on the agreement you are asked to accept outranks anything here.

What does the ic.com page say about Malaysia?

Nothing by name. Malaysia does not appear in the lines read. The restricted-countries clause says Raw Trading Ltd does not provide services for residents of certain countries such as the United States of America, Canada, Iran and North Korea, or a country where such distribution or use would be contrary to local law or regulation.

Read that last clause slowly, because it is where the burden moves. The same block says that a client registering an account acknowledges doing so at their own free will, without solicitation on behalf of Raw Trading Ltd, and that when accessing the site from a country where its use may or may not be prohibited, it is the user’s responsibility to ensure their use adheres to local laws. In plain terms, the broker does not tell a Malaysian reader whether trading with it is permitted under Malaysian law; it tells the reader to find out. Absence from a broker’s exclusion list is a fact about the broker’s terms. It is not a permission slip from Putrajaya, and the question of whether forex itself is legal here has its own answer.

The page also states that client funds are held in client-segregated accounts with top-tier banking institutions, and that the company complies with the Seychelles Securities Act and its conduct of business regulations. In the lines read it names no compensation scheme for a client of the Seychelles company. Segregation is a promise about how money is held; it is not a fund that pays out if the company fails.

Is IC Markets on Bank Negara Malaysia’s alert list?

Not under the names checked. BNM’s Financial Consumer Alert List, read on 18 October 2026, returned no line matching IC Markets, ICMarkets, Icmarkets, IC MARKETS, Raw Trading or International Capital. The same search did match the list’s two Exness entries, Exness Malaysia dated 13 July 2012 and Exness Executive Management dated 28 August 2017, which shows the list’s body was in the text read rather than a blank page.

Scope that carefully. The search covered those spellings on that day, and a variant spelling or a clone domain would not match it. More to the point, the alert list is a list of names BNM warns consumers about, not a register of names to trust. No entry means BNM had not listed IC Markets under those names when the list was read. It does not mean BNM licenses, approves or supervises it, and nothing read suggests it does. This site’s review of what the BNM and SC lists actually prove sets out why the two lists answer different questions.

Is IC Markets licensed by the Securities Commission Malaysia?

Nothing read shows an SC licence for any IC Markets company. FxScouts’ Malaysia review, the top result for this query, says plainly that IC Markets is not licensed by the SC. This desk did not open the SC’s list of licensed intermediaries for this piece, so that sentence is FxScouts’, not ours.

The SC’s Investor Alert List page did open at 200 on 18 October 2026, and its preamble is worth keeping: the list names unauthorised entities and individuals, investing through them means you will not be protected under Malaysian securities laws, and the list is not exhaustive. Its entries, though, did not come through in this desk’s plain-text read, and the search matched no entity name at all, which says the rows were missing from the text, not that a name was absent. So this piece makes no claim either way about whether IC Markets appears on it. A reader can run the check on the SC’s own search box in a minute, under every spelling of the brand.

SD018: a Securities Dealer licence, or a derivatives licence?

The labels differ by source. WikiFX’s dealer profile, which ranks for this query, calls SD018 a Derivatives Trading License. The firm’s own page calls it a Securities Dealer’s licence, and the FSA’s capital markets page lists Raw Trading Ltd among its securities dealers. Where an affiliate’s label and the licensee’s wording disagree, the licensee’s wording and the regulator’s category win. The difference matters less than it looks for a Malaysian reader, because neither label is a Malaysian authorisation, but a reader comparing reviews should know the two descriptions point at the same number.

What the top-ranked reviews leave out

FxScouts, edited on 16 October 2026, is long and broadly right on the entity map: it names Raw Trading Ltd as the onboarding company and lists the ASIC, CySEC, Bahamas and Seychelles licences. It frames Malaysia’s rules through the SC alone, though, and in the lines the serp phase read it does not mention BNM or cite the ic.com page. BrokerChooser’s Malaysia page says a Malaysian resident can open an account and that citizenship and tax residency decide the entity, but in the lines read it never names the company that signs the client. WikiFX lists the entities and a score of its own, and in the lines read says nothing about Malaysia’s regulators. None of the three, in what was read, quotes the free-will and user’s-responsibility language that decides who carries the legal risk. That clause is the most useful sentence on the broker’s page, and none of the three, as read, prints it.

The cluster on this site has mapped the same terrain from other directions. If the question is whether an offshore licence from just across the water changes anything, the answer for Labuan-licensed brokers and Malaysian residents is not the one most readers expect.

Questions readers ask

Is IC Markets available to investors in Malaysia?

The broker’s own page does not exclude Malaysia. Its restricted list, as read on 18 October 2026, names the United States, Canada, Iran and North Korea, plus any country where use would breach local law. Being left off that list is a fact about the broker’s terms, not a permission from Malaysia, and the same page puts the job of checking local law on the user.

Is IC Markets legal in Malaysia?

That is a question for a Malaysian lawyer, not a broker footer. The documents support something narrower: no IC Markets company holds a BNM or SC Malaysia licence on anything this desk read, the client contracts with a Seychelles company, and that company’s page says registration happens at the client’s own free will, without solicitation. Those words move the legal question onto the reader.

Is IC Markets regulated?

Yes, somewhere, and by company. The ic.com page names Raw Trading Ltd, licensed by the Seychelles FSA as a Securities Dealer under SD018, and the FSA’s own list carries that company with the IC Markets Global trade name. Competing reviews list Australian, Cypriot and Bahamian licences for other group companies. None of those is a Malaysian licence, and each protects its own company’s clients.

Is IC Markets licensed by Bank Negara Malaysia?

Nothing read shows it. No BNM licence or approval for any IC Markets company appears on the pages this desk read, and BNM’s Financial Consumer Alert List, read on 18 October 2026, carried no entry under IC Markets, Raw Trading or International Capital. No entry is not approval: the list warns about named names, and it is silent about everyone else.

Bottom line

IC Markets is regulated, on its own page’s account, in Seychelles, through Raw Trading Ltd and licence SD018, and the Seychelles regulator lists that company under the IC Markets Global name. That is the whole of the licence a Malaysian reader meets on ic.com. The group’s better-known licences sit with other companies, and none of what was read puts a Malaysian regulator anywhere on the map.

Licensing varies by country, and a reader in Penang inherits the Seychelles company’s contract, not Sydney’s or Limassol’s protections. Read the counterparty on the agreement before you accept it, search both Malaysian lists under every spelling, and keep in mind that leveraged products can lose more than a deposit under any regulator, at home or offshore.