IC Funded review
IC Funded is the proprietary-trading division of IC Markets, the Australia-founded, multi-regulated retail FX and CFD broker. It soft-launched in 2024, was paused, and relaunched in 2026 under industry veteran Petros Kalaitzis. It sells one- and two-step evaluations on simulated accounts from $5,000 to $500,000 across forex, indices, metals, commodities and crypto CFDs, routed through IC Markets' broker infrastructure. Its rules are broadly standard for the category — a 10% profit target with single-digit daily and max drawdowns — but its 75% starting profit split (scaling to 80% after a trader's third payout) trails the 80%-from-day-one norm many rivals offer. Unlike its regulated parent, IC Funded itself is not a regulated entity: it operates through a Saint Lucia company, explicitly disclaims providing brokerage services, and all accounts are simulated rather than live-market.
IC Funded key facts
- Website: www.icfunded.com
- Category: Prop trading firm
- Founded: 2024
- Headquarters: Gros-Islet, Saint Lucia
- Parent company: IC Markets
- Model: 1- or 2-Step Challenge
- Account sizes: $5K–$500K
- Profit split: 75%, scaling to 80%
- Payouts: Bi-weekly
- CEO: Petros Kalaitzis
- FYI Score: 72.1/100 (ranked #51 of the 63 prop trading firms we track)
Rules and risk
- The 2-Step program tightens as you progress: Phase 1 allows 4% daily / 8% max drawdown, widening to 5% daily / 10% max once funded. The 1-Step program is stricter during evaluation (3% daily / 6% max) and loosens slightly to 7% max once funded.
- The 1-Step track adds a 45% consistency rule (no single day can account for more than 45% of total profit) and restricts holding positions over the weekend; the 2-Step track has neither restriction disclosed.
- Leverage is capped by asset class: up to 50:1 on forex, 1:20 on metals, indices and commodities, and 1:2 on crypto CFDs.
- All accounts are explicitly simulated — IC Funded's own site states it does not operate as a broker, does not provide brokerage services and does not accept deposits.
- Some third-party reviews report geographic exclusions, including the US, Canada, Pakistan and Malaysia.
Payouts and scaling
- Profit split starts at 75% and steps up to 80% after a trader's third payout (roughly a month of bi-weekly cycles) — below the 80%-from-day-one baseline offered by many competitors.
- Payouts run on a bi-weekly (14-day) cycle, and IC Funded advertises a $500 compensation guarantee if an approved payout isn't processed within 48 hours.
- The one-time evaluation fee is refunded to the trader after their third payout.
- Funded accounts can scale up to the firm's $500,000 ceiling for consistent performers.
IC Funded evaluation challenges
| Challenge | Steps | Profit target | Max drawdown | Profit split | Price |
|---|
| 2-Step Professional | 2-step | 10% | 8% | 75% | from $74 · $5K–$500K |
| 1-Step Accelerated | 1-step | 10% | 6% | 75% | from $154 · $5K–$500K |
Markets
Forex, Indices, Metals, Commodities, Crypto
Platforms
MetaTrader 5, MetaTrader 4, cTrader
Who IC Funded is for
A reasonable option for a trader who wants broker-grade infrastructure and a firm backed by an established broker, and who is comfortable with a below-average starting split (75%, scaling to 80%) and a firm's short, interrupted operating history. Traders prioritizing the highest headline splits or the longest track record may prefer more established rivals.
Pros
- Backed by IC Markets, an established, multi-regulated CFD broker, giving it stronger infrastructure and execution credibility than most newly launched prop firms.
- Wide account-size range ($5K–$500K), no disclosed time limit on either evaluation track, and the challenge fee is refunded after the third payout.
- A $500 compensation guarantee if payouts aren't processed within 48 hours, and a relatively strong reported Trustpilot rating (roughly 4.4–4.6/5) in its first year of reviews.
- Broad instrument coverage across forex, indices, metals, commodities and crypto CFDs on IC Markets' execution infrastructure.
Cons
- Starting profit split is 75%, below the 80% many rivals offer from day one; reaching 80% requires a third payout cycle (about a month).
- Not a regulated entity in its own right — accounts are simulated, and the operating company is registered offshore in Saint Lucia, separate from IC Markets' regulated broker entities.
- A short and interrupted track record: soft-launched in 2024, then paused and relaunched under new leadership in 2026, so there is limited long-run evidence of how it handles scale or disputes.
- Some independent reviews report KYC/verification friction, geographic exclusions (US, Canada, Pakistan, Malaysia), and Trustpilot scores that vary widely by source (from roughly 2.5/5 to 4.6/5).
IC Funded FAQ
Is IC Funded legit?
IC Funded is a real prop-trading division of IC Markets, an established, multi-regulated retail FX and CFD broker. It soft-launched in 2024, was paused, and relaunched in 2026 under a named executive, Petros Kalaitzis. It is not itself a regulated financial entity, and reported Trustpilot scores vary significantly by source (roughly 2.5/5 to 4.6/5), so treat any single rating with caution.
Is IC Funded regulated?
No. IC Funded operates through an offshore Saint Lucia entity and explicitly states it does not operate as a broker, does not provide brokerage services and does not accept deposits. Accounts are simulated evaluation and funded environments, not live brokerage accounts, even though its parent company IC Markets is itself a regulated broker.
What does IC Funded cost and how do the challenges work?
IC Funded offers a 2-Step Professional track (from $74 for a $5,000 account; 10% target in Phase 1, 5% in Phase 2) and a 1-Step Accelerated track (from $154 for a $5,000 account; 10% target, tighter 3% daily / 6% max drawdown, and a 45% consistency rule). Account sizes run from $5,000 to $500,000, and neither track carries a disclosed time limit.
How does the profit split and payout schedule work?
Traders start at a 75% profit split, which scales to 80% after their third payout. Payouts run on a bi-weekly (14-day) cycle, IC Funded advertises a $500 compensation guarantee for payouts not processed within 48 hours, and the one-time evaluation fee is refunded after the third payout.
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