IC Markets MT5: a Second Account, Not an Upgrade - and Not a Cheaper One · Kenya
Choosing MetaTrader 5 at IC Markets changes the terminal, not the contract. The account types, the commission, the leverage tiers, the stop out and the Swap Free rules are the ones you already agreed to, and the single instrument count the broker publishes covers both builds. What does change is that you end up holding two accounts - and from Nairobi each of them names a company worth reading.
Open IC Markets Account →MetaTrader 5 is one of the platforms IC Markets lists, alongside MetaTrader 4, MetaTrader WebTrader, cTrader, TradingView and its own mobile app, read on 2 September 2026. Behind it sit the same two account types as MT4 - Raw Spread and Standard - at the same published prices: USD 3.50 per lot per side, or USD 0 commission with spreads from 0.8 pips. The broker publishes a single instrument count for MetaTrader accounts, 2,250 against 121 on cTrader, and no separate MT4 or MT5 figure at all. The platform is fixed when the account is created, so choosing MT5 later means opening a second account rather than upgrading the first. This is an independent guide, not the broker's own download page. CFD trading carries a high risk of losing money.
MetaTrader 5 (MT5) at IC Markets
- MT5 runs on the same two MetaTrader account types as MT4 - Raw Spread and Standard - so the commission and the spread floor you agreed at sign-up do not move when the terminal does.
- IC Markets publishes one instrument count for MetaTrader accounts, 2,250, against 121 on the cTrader account. It publishes no separate MT4 figure and no separate MT5 figure, and this page will not invent one.
- Swap Free is an option on both account types across more than 90 instruments, and it replaces the swap line with a flat published fee per lot per night rather than removing the cost.
- Raw Pro and Raw Pro+ are account types, not terminals: USD 5,000 and USD 100,000 to open, USD 1.50 and USD 1.00 per lot per side, both marked early access.
- Stop out is 50% of required margin on every account type, MT5 included.
- The terminal is chosen when the account is created, so adding MT5 to an existing client portal means opening a second account rather than switching one.
What the terminal decides, and what it does not
| Decision | Set by | What IC Markets publishes |
|---|---|---|
| Commission per lot | The account type | USD 3.50 per side on Raw Spread, USD 7.00 the round turn; USD 0 on Standard |
| Spread floor | The account type | From 0.0 pips on Raw Spread, with a broker-stated EUR/USD average of 0.1 pips; from 0.8 pips on Standard |
| Instruments quoted | The platform family | 2,250 on MetaTrader accounts, MT4 and MT5 counted together; 121 on cTrader |
| Maximum leverage | The platform family and your position size | Tiered on MetaTrader: 1:5000 to 25 lots, 1:3000 from 25 to 50, 1:1000 above 50; 1:1000 on cTrader |
| Swap Free | The account type | Raw Spread and Standard, 90+ instruments, as a flat published fee per lot per night |
| Stop out | Nothing you choose | 50% of required margin, identical on every account type |
Not one row here changes when you install a different MetaTrader build. That is the honest answer to whether MT5 beats MT4 at this broker: on price, on leverage and on stop out it is not a question the terminal gets to answer.
Get started
The MT5 installer sits inside the Secure Client Portal, which only exists after registration. A free demo opens the same terminal with no deposit and no currency conversion at all, and if the symbol you actually came for is gold, the margin and overnight-carry arithmetic is worked out on the gold page.
Open IC Markets Account →What IC Markets publishes about MT5, and what it does not
The broker's own platform list, read on 2 September 2026, names MetaTrader 4, MetaTrader 5, MetaTrader WebTrader, cTrader on desktop, web, iOS and Android with cTrader Algo and cTrader Copy Trading, TradingView, the IC mobile app, IC Social, Signal Start and ZuluTrade. MetaTrader 5 is one entry on that list rather than a tier above the rest, and every page behind it describes an account, not a terminal.
On the numbers, what exists is a single instrument count for MetaTrader accounts - 2,250 - set against 121 on the cTrader account, with 64 currency pairs and 15 major equity indices named for Raw Spread. There is no MT4-only figure and no MT5-only figure anywhere on those pages. A comparison table that tells you MT5 adds some exact number of symbols over MT4 at this broker is quoting something the broker has not said, and this page will not join in.
Two further absences are the ones that send people to the wrong download. IC Markets publishes where the MetaTrader servers physically sit, the Equinix NY4 data centre in New York, but not the server strings themselves; and it publishes neither an installer link nor a build number. All of that arrives inside the Secure Client Area once the account exists, which is the practical reason the order runs register first, install second - and the reason a search advert offering an IC Markets MT5 installer is not coming from IC Markets.
A second terminal is a second account, and in Kenya a second contract
The platform is chosen when the account is created and cannot be swapped afterwards. An MT4 account connects to MT4 and to nothing else; adding MetaTrader 5 means applying for another account, which then sits alongside the first inside the same Secure Client Area. Nothing carries across - not the balance, not the trade history, not the credentials, because the second account is issued its own.
Opening it costs nothing in itself. The minimum deposit is USD 0 on Raw Spread, on cTrader Raw Spread and on Standard, so a second MetaTrader account can be opened and left empty. The only IC Markets accounts carrying an opening minimum are the early-access Raw Pro at USD 5,000 and Raw Pro+ at USD 100,000, and those are account types rather than terminals: Raw Pro is priced at USD 1.50 per lot per side against USD 3.50 on Raw Spread, whichever MetaTrader build you point at it.
The Kenyan consequence sits one step further along. Every new account goes through the same registration flow, and that flow's default branch for Kenya is Raw Trading Ltd of the Seychelles, registration 8419879-1, under Financial Services Authority licence SD018 - not IC Markets (KE) Limited, the company carrying Capital Markets Authority licence No. 199 on the public register at licensees.cma.or.ke. A second account is therefore a second agreement, and which of those two companies it names is worth reading before the first order goes through it.
IC Markets MT5 at a glance
| Feature | MetaTrader 5 at IC Markets |
|---|---|
| Account types it runs on | Raw Spread and Standard - exactly the two that run MT4 |
| What you can trade | Forex, metals, indices and share CFDs, drawn from the 2,250 instruments quoted on MetaTrader accounts |
| Tools MT4 does not carry | Depth of Market, a wider set of pending order types, an economic calendar built into the terminal |
| What it does not change | Commission, spread floor, leverage tiers, stop out and the Swap Free rules - every one of them set by the account, not by the terminal |
| Where the download lives | Inside the Secure Client Area once the account exists; no installer link and no build number is published anywhere else |
| Moving an MT4 account across | Not possible - the platform is fixed at registration, so MT5 means a second account |
IC Markets at a glance
| Detail | IC Markets |
|---|---|
| Account types | Raw Spread, cTrader Raw Spread and Standard, plus Raw Pro and Raw Pro+ in early access |
| Minimum to open | USD 0 on Raw Spread, cTrader Raw Spread and Standard; USD 5,000 on Raw Pro; USD 100,000 on Raw Pro+ |
| Commission per lot | USD 3.50 per side on Raw Spread; USD 3.00 per USD 100,000 on cTrader Raw Spread; USD 0 on Standard; USD 1.50 and USD 1.00 per side on Raw Pro and Raw Pro+ |
| Instruments quoted | 2,250 on MetaTrader accounts; 121 on the cTrader account; 64 currency pairs and 15 major equity indices on Raw Spread |
| Swap Free | Raw Spread and Standard, more than 90 instruments, charged as a flat published fee per lot per night instead of swap |
| Stop out | 50% of required margin, identical on every account type |
| Client money | Held in segregated client money accounts with top-tier international banks, on the broker's own statement |
Broker-published terms read 2 September 2026; confirm the current figures before you trade. Leverage means a high risk of losing money.