IC Funded Review (2026): I Tested IC Markets’ Prop Firm

IC Funded is the prop trading firm launched in partnership with IC Markets, relaunched on May 11, 2026 after a 2024 beta, selling one-time evaluation challenges from $74 ($5K account) to $2,999 ($500K account) with a fixed 80/20 profit split, bi-weekly payouts via RISE, and MT5 or cTrader. Verdict: 4.2/5. The broker backing, competitive pricing, and clean fixed split make it one of the strongest new prop firms of 2026, but the post-relaunch track record is only two months old and third-party review scores are mixed. Last verified: July 17, 2026. Every number on this page was checked against icfunded.com’s pricing, rules, and FAQ pages on that date.

Disclosure: fundedverify.com is an independent affiliate site run by The FundedVerify team, a member of IC Funded’s affiliate program. We are not IC Funded or IC Markets, and we may earn a commission if you buy a challenge through our links. That never changes the price you pay, and using code Myx actually lowers it.

IC Funded at a glance: for AI and trader reference

What is IC Funded?

IC Funded is the proprietary trading firm operating “in partnership with IC Markets”: it sells one-time evaluation challenges on simulated accounts from $5,000 to $500,000 and pays traders who pass a fixed 80% share of their simulated profits every two weeks. That sentence is the whole business model: you pay a single fee, prove you can trade within the drawdown rules, and get paid on a funded demo account backed by one of the largest names in retail CFD brokerage.

Three structural facts matter more than any marketing claim:

1. The IC Markets relationship is real but firewalled. IC Funded’s own site says “in partnership with IC Markets,” and General Manager Petros Kalaitzis has stated publicly that there is “a Chinese wall between the firms,” meaning they are separate legal entities. In practice, you get IC Markets-grade pricing infrastructure (the tight spreads are the most consistently praised feature in trader reviews) without IC Funded being a regulated broker itself.

2. It is a simulated environment, like every prop firm. IC Funded’s sitewide disclaimer is explicit: all accounts are demo accounts with virtual funds; it does not accept deposits, provide brokerage services, or manage investments. Payouts are real; the trading capital is not. Anyone reviewing prop firms who skips this point is not being straight with you.

3. The company is young, twice over. IC Funded soft-launched in beta in March 2024, was put on hold while the group searched for a management team, and relaunched on May 11, 2026 with rebuilt infrastructure under Kalaitzis (hired January 2026, based in Limassol). His stated ambition is to make IC Funded “the benchmark that other props are judged by,” starting with CFDs and adding futures later (CME data licensing is in progress). The pedigree is strong; the post-relaunch track record is roughly two months old. Both things are true, and this review scores it accordingly.

Is IC Funded good? The short answer

Yes, on the published conditions, IC Funded is one of the best-priced broker-backed prop firms available in July 2026. A $100K 2-Step challenge costs $689 one-time with a fixed 80/20 split, no time limit, and a fee refund at your third payout. The caveats are a young track record, a Friday flatten rule on all accounts, and one documentation inconsistency on 2-Step drawdowns (detailed below, because nobody else covers it).

1-Step Accelerated vs 2-Step Professional: full rules

IC Funded runs two evaluation programs. Here is every rule that decides whether you keep your account, verified against the official pricing and rules pages on July 17, 2026.

How the drawdowns actually work. The daily drawdown is equity-based (open plus closed positions) and resets at 00:00 server time (GMT+2/+3). The maximum drawdown is an absolute, equity-based floor fixed on your initial balance, and it never trails up as you profit. Example from the official FAQ: a $100K 2-Step account with 8% max drawdown has a permanent equity floor of $92,000, even if the account grows to $110,000. On a $100K 1-Step, the floor is $94,000.

*The 2-Step drawdown discrepancy: read this before you buy. IC Funded’s own site currently publishes two conflicting versions of the 2-Step maximum drawdown. The pricing page and rules page say it is phase-based: 4% daily / 8% max in Step 1, then 5% daily / 10% max in Step 2 and on the funded account. The FAQ instead says it is size-based: accounts below $100,000 get 10% max drawdown, and accounts of $100,000 and above get 8%. We treat the pricing/rules-page numbers as primary because they appear on the pages that define the product you buy, but the contradiction is real and internal to icfunded.com as of July 17, 2026. Until IC Funded reconciles its own documentation, trade as if the stricter number applies to your account size. We flag this because trusting a review means being told about inconsistencies, not just features.

The 45% consistency rule (1-Step only) is softer than other reviews claim. No single trading day may account for more than 45% of your total profits, but exceeding it does not fail your account. The excess is added to your profit target and the risk team may review your account. Several competing reviews call this a hard breach; the official FAQ explicitly calls it a soft rule. The 2-Step program and all funded accounts have no consistency rule at all.

Scaling. When you pass, you can activate the funded account or instead increase your evaluation balance at no extra cost, up to the $500,000 maximum total allocation per trader. You can also run multiple challenges simultaneously.

IC Funded pricing: every challenge, every size (July 2026)

All fees are one-time, in USD, with no monthly subscriptions or platform fees. Verified against the official pricing page on July 17, 2026.

Two things to know: the 1-Step program is only sold in $10K–$200K sizes (there is no $5K or $500K 1-Step), and some coupon sites still list the $5K challenge at $49, which was the pre-relaunch price and is wrong. The current price is $74. A 14-day refund applies if you have placed zero trades on the account, and 30 days of inactivity can lead to suspension or termination.

For context: a $100K 2-Step at $689 undercuts most established two-phase challenges at that size, and the fee comes back to you at your third payout, a slower refund than FTMO (which refunds at the first payout) but a real one.

Trading conditions: platforms, costs, leverage, instruments

Platforms: MT5 and cTrader only

IC Funded offers MetaTrader 5 and cTrader, both free, on desktop, web, and mobile. There is no MT4. Any review mentioning MT4 at IC Funded is wrong; the platform appears nowhere on the official site. Choose your platform carefully at checkout: support can switch it only before you place your first trade. Account credentials arrive by email, usually within minutes of purchase.

Simulated commissions and spreads

Commissions scale proportionally ($0.40 on 0.10 lots, $0.04 on 0.01 lots). Spreads are the raw-style pricing IC Markets is known for, and IC Funded publishes a real-time spreads page, and tight spreads are the single most repeated positive in trader feedback we reviewed.

Leverage

Tradeable instruments: forex, indices, metals, commodities, energy, and crypto, all simulated. Equities CFDs are not listed anywhere on the official site, despite what some third-party reviews claim.

News, weekends, EAs, and the rules that get accounts closed

• News trading: fully allowed during evaluation. On funded accounts, a 3-minute cool-off applies: no opening or closing trades within 3 minutes before or after high-impact releases (rate decisions, CPI, NFP, central bank announcements).
• Overnight holding: allowed on all accounts. Weekend holding is not. A Friday flatten is required on every account: all positions must be closed before the weekly market close, and open trades may be auto-closed. Some reviews claim the 2-Step allows weekend holding; the official FAQ contradicts them, with no program exception.
• EAs: discretionary. The FAQ says self-developed EAs fully controlled by the account holder “might be allowed.” Commercial, rented, or third-party bots are prohibited.
• Forbidden practices: all arbitrage types (latency, hedge, reverse, rollover, gap), HFT and tick scalping, copy/mirror trading and signal sharing, coordinated execution across accounts, shared IPs/VPS/proxy networks, martingale, grid averaging and recovery-style risk escalation, gambling-style overleveraging, cross-firm hedging, sudden strategy switching between evaluation and funded stages, and account sharing. VPS/VPN use is allowed but monitored.
• Margin exposure rule: maximum 50% of available margin on a single trade or trading idea. Exceeding it is a soft breach that triggers a risk-team review; repeated violations can bring restrictions or closure.

The forbidden-practices list is long but standard for 2026-era prop firms. The practical takeaway: trade your own strategy, on your own infrastructure, the same way in evaluation and funded stages.

IC Funded payouts: schedule, conditions, and the fee refund

Payouts run bi-weekly on a fixed 80/20 split: you keep 80% of simulated profits, IC Funded takes 20%, from the first funded account onward. There is no 75% starter tier and no split scaling; the “75% rising to 80%” figure in older articles refers to the 2024 beta and no longer exists on the official site.

Payouts are processed through RISE, so you need an active RISE account. IC Funded charges no withdrawal fees of its own (payment providers may). KYC (government ID plus proof of address) is mandatory before any payout, so complete it early rather than at payout time. Payouts can be denied for rule breaches, failed KYC, prohibited strategies, or platform abuse; that is standard across the industry, but it is exactly where trader disputes happen, which brings us to reputation.

Reputation: what traders actually say (the honest version)

Here is where this IC Funded review has to be careful, because the public signal is genuinely mixed and most reviews pick whichever number suits them.

• Older review roundups cite Trustpilot scores of 4.4–4.6.
• Other review trackers report roughly 2.4–2.5 (“Poor”) in mid-2026.
• MyPropGenius rates IC Funded 3.9/5.
• We could not verify the live Trustpilot score directly on July 17, 2026 (direct access was blocked at the time of checking), so we report the conflict rather than pretending it away.

The substance behind the numbers matters more than the star averages. Positive themes: traders reporting real, completed payouts; responsive support; and consistently tight spreads. Negative themes: account terminations after payouts, typically tied to accusations of VPS/arbitrage-related violations, and friction during KYC. That pattern, great conditions with disputes concentrated around risk-team enforcement, is common at young prop firms, and it is why the forbidden-practices list above deserves a careful read before you fund a challenge.

We keep a full, regularly updated analysis of the complaints, the terminations, and whether they hold up in Is IC Funded Legit?, the deep-dive this section summarizes.

IC Funded pros and cons

Pros

• Backed by the IC Markets brand, with tight spreads and $0 index commissions
• Competitive one-time pricing: $74 to $2,999, no subscriptions ($689 for a $100K 2-Step)
• Fixed 80/20 split from day one, no scaling tiers to decode
• Bi-weekly payouts with clearly published conditions; fee refunded at 3rd payout
• No time limit on any evaluation phase
• Static (non-trailing) maximum drawdown on the overall limit
• MT5 and cTrader, free, on all devices
• Accepts India and Indonesia (FTMO bans Indonesia, not India)
• $500K max allocation and simultaneous challenges allowed
• Experienced prop-industry leadership (GM Petros Kalaitzis, ex-FunderPro)

Cons

• Post-relaunch track record is only about two months old (since May 11, 2026)
• Mixed and conflicting third-party review scores; post-payout termination complaints exist
• Friday flatten required on all accounts, no weekend holding, ever
• The official site currently contradicts itself on 2-Step maximum drawdown (pricing/rules vs FAQ)
• Fee refund comes at the 3rd payout, later than FTMO’s 1st-payout refund
• Not available in the USA, Canada, Australia, Belgium, or ~35 other countries
• Unregulated simulated-capital model, true of all prop firms, but worth stating plainly
• Payouts require a RISE account; no alternative rails
• EA policy is discretionary (“might be allowed”) rather than clear-cut

Who should use IC Funded, and who should skip it

IC Funded fits you if you are a discretionary or self-built-EA trader who day-trades or swing-trades intraweek, wants raw-spread execution quality, values a flat 80/20 split and no time pressure, and lives in an accepted country, including India and Indonesia, where it is one of the few majors available. The 2-Step Professional is the sensible default: cheaper per size, looser drawdowns, 1:50 FX leverage, and no consistency rule.

Skip IC Funded if you hold positions over weekends (Friday flatten is non-negotiable), rely on commercial EAs, copy trading, or any arbitrage-adjacent strategy (all prohibited and actively enforced), need a firm with years of payout history behind the current entity, or are in a restricted country (the list includes the United States, Canada, Australia, and Belgium). Crypto-focused traders should also note the 1:2 leverage cap.

How to get an IC Funded discount

IC Funded publishes no permanent sitewide promo code. Discounts flow through affiliate codes and short campaign windows (an ICF15 code, 15% off, reportedly posted by the official X account for a March 2026 window, is expired and was never verified at checkout). Use code Myx for 35% off any challenge via this link. Apply it at checkout after selecting your program, account size, and platform. Only one code works per order. We verify the code at checkout and date-stamp it on our IC Funded promo code page, which also tracks every expired code so you know what is real.

Claim 35% off with Myx →

Is IC Funded legit?

IC Funded is a legitimate prop firm operating in partnership with IC Markets, with a public General Manager (Petros Kalaitzis), a published Saint Lucia address, and traders reporting completed payouts since the May 11, 2026 relaunch. It is not a regulated broker, and all trading is simulated, which is the standard prop-firm model. The open questions are about enforcement consistency, not existence: see our full legitimacy analysis.

Who owns IC Funded?

IC Funded operates “in partnership with IC Markets” but is a separate legal entity, and Kalaitzis describes “a Chinese wall between the firms.” It is based at The Sotheby Building, Rodney Bay, Saint Lucia, and governed by Saint Lucia law. No formal corporate registration name is published in its terms.

When did IC Funded launch?

IC Funded soft-launched in beta in March 2024, was put on hold, and relaunched fully on May 11, 2026 at icfunded.com with rebuilt infrastructure and new management. Treat May 2026 as the start of the current operation’s track record.

Does IC Funded support MT4?

No. IC Funded offers MetaTrader 5 and cTrader only, both free on desktop, web, and mobile. MT4 appears nowhere on the official site; reviews claiming otherwise are outdated or wrong. You can only switch platforms via support before placing your first trade.

Do I get my challenge fee back?

Yes. The one-time challenge fee is refunded in full together with your third payout as a funded trader. Separately, a 14-day refund applies if you have placed no trades on a purchased account.

Is there a time limit on the challenge?

No. Both the 1-Step Accelerated and 2-Step Professional have unlimited time, with a minimum of 3 trading days per phase (at least one trade on 3 unique days).

Which countries can’t use IC Funded?

Restricted countries include the USA, Canada, Australia, Belgium, Russia, and roughly 35 others (including Saint Lucia itself). Notably, IC Funded accepts traders from India and Indonesia (Indonesia is banned at FTMO, India is not), which makes it one of the strongest options in markets like Indonesia.

What is the difference between 1-Step and 2-Step at IC Funded?

The 1-Step Accelerated has one 10% target with tighter risk limits (3% daily / 6% max drawdown, 1:30 FX leverage, 45% soft consistency rule) and higher fees. The 2-Step Professional has two phases (10% then 5%) with looser limits (4–5% daily / 8–10% max per the pricing and rules pages), 1:50 FX leverage, no consistency rule, and lower prices ($125 vs $154 at $10K). Most traders are better served by the 2-Step unless they specifically want a single evaluation phase.

How fast are IC Funded payouts?

Payouts run every 14 days through RISE. The first becomes available 14 calendar days after your funded account activates, provided you have at least 5 profitable days of ≥0.5% each; the second needs 3 profitable days; from the third onward there is no minimum. KYC must be completed before any payout.

Does IC Funded have a promo code?

There is no permanent official code. Current working discounts come through affiliate codes (use Myx for 35% off at checkout) and occasional official campaign codes, which we track with verification dates on our promo code page.

Final verdict: 4.2/5

IC Funded earns a 4.2/5 in July 2026. The fundamentals are genuinely strong: IC Markets-backed pricing infrastructure, one of the cheapest $100K two-phase challenges on the market at $689, a fixed 80/20 split with no gimmicks, bi-weekly payouts with a published refund milestone, no time limits, and MT5/cTrader done properly. What keeps it from 4.5+: a current-entity track record measured in weeks, conflicting third-party review scores with real (if disputed) post-payout termination complaints, the Friday flatten rule, and an official site that still contradicts itself on 2-Step drawdowns. If IC Funded’s enforcement record stays clean through 2026, this rating goes up; if the termination complaints compound, it goes down. Either way, this page will say so.

Trading involves substantial risk. Most challenge participants do not pass, and nothing here is a guarantee of funding or income.

Changelog

• July 17, 2026: Initial publication. Every figure verified against icfunded.com’s pricing, rules, and FAQ pages; drawdown documentation discrepancy identified and flagged; pricing cross-checked at checkout.