What IC Markets Raw Spread rebate eligibility actually requires

Four gates have to be open at the same time. Fail one, and a correct-looking commission ticket still does not tell you that cashback is due.

1. The account type has to be the one you think it is

IC Markets Global's help centre describes two MetaTrader account types. Raw Spread shows the raw spread from liquidity providers and adds a commission. Standard has no separate commission in that description; the cost is a markup on the spread. The same help page's markup figure is written as 0.08 pip. The EU trading-costs page says Standard spreads start from 0.8 pips. Those pages do not agree, so do not average them into one worldwide Standard cost. Use the specification for the entity on your agreement.

FXBee's IC Markets card lists Standard, Raw Spread, and cTrader Raw Spread as account types. Listing is not the same as a published cashback rate, because the rate grid is still empty. A Standard login can still be the wrong subject for a commission check: if there is no commission line, you cannot reconcile cashback against a $7 ticket that was never charged. cTrader Raw Spread is a third case, with its own notional formula, covered below.

Account type is also not a permanent label you tick once. The Seychelles client terms and the Australian account terms both say some account types may be unavailable depending on knowledge, experience, and the transactions you place, and that the firm may convert an account to a different type. When you audit a ticket, read the account-type name on that login again.

2. The agreement company decides which schedule applies

Public pages use more than one company name. Match the name on the agreement you accepted, then use that company's schedule:

• Australian account terms name International Capital Markets Pty Ltd and AFSL 335692.

• The EU help centre identifies IC Markets (EU) Ltd, CySEC CIF licence 362/18. The firm points readers to the CySEC investment-firm record for that licence.

• The Seychelles terms name Raw Trading Ltd, securities dealer licence SD018.

FXBee's dealer card lists those brands together. That list is a screening set, not proof that your login sits with all three. Platform software is not a licence. MT4, MT5, and cTrader do not tell you which register entry applies.

One boundary is easy to miss if you only read a leverage headline. The FXBee card shows a maximum leverage of 1000:1. ASIC's CFD product intervention order restricts retail leverage, including 30:1 on major currency pairs, and it prohibits CFD issuers from giving or offering certain inducements to retail clients. ASIC's own example of those inducements includes trading credits and rebates. ASIC later extended that order to 23 May 2027. Wholesale clients are outside it. The order does not, by itself, describe every client of an offshore entity. If your agreement is with the Australian company and you are classified as retail, ask that company whether a rebate is permitted on your account before you plan a trading month around cashback.

3. The volume has to be attributed to the rebate path

FXBee calculates rebates from trading volume on broker accounts linked via its referral links. An older Raw Spread login that never passed through that link is not automatically in the calculation. Ask FXBee support whether that account number can be linked, and wait for the answer before you increase size to "catch up" a credit that was never attributed.

The same support terms prohibit fake or duplicate registration and rebate abuse, including multi-account manipulation. They also say a user may link more than one legitimate account. The line between those two is the platform's own review. It is not a lot count you can clear by trading faster.

A separate rule sits on the broker's partner contract, and it is easy to misread as a client ban. The IC Markets Global affiliate agreement says the affiliate and related parties are not eligible as Qualified Traders under that affiliate's own ID, so introducer fees are not paid on those accounts. That is a rule about the introducer earning on their own login or a family login. It is not a statement that every Raw Spread client is ineligible for cashback.

4. The live card has to show the rate you are using

"Rebate Details Coming Soon" is an empty grid. It is not a zero rate, and it is not a hidden rate you are supposed to guess. You can still choose an account type, confirm the agreement company, and rehearse the commission check. You cannot yet subtract a FXBee dollar credit from that commission and call the result your cost. For how a published rate would sit on top of spread and commission once a number exists, use the separate guide to IC Markets cashback rates and account costs.

Deposit floors are another place the card and the help centre part ways. The FXBee card lists a minimum deposit of 200 USD. IC Markets Global's help centre says a trading account can be opened with no minimum deposit. Use the deposit screen on the entity you actually open. Do not treat 200 USD as both an opening minimum and proof that a rebate has started.

Check the Raw Spread commission before you look for a credit

A commission check answers a narrow question: does this ticket match the schedule published for this base currency, this platform, and this entity? It does not answer whether a rebate will be credited.

IC Markets Global's help centre publishes this round turn per standard lot on Raw Spread. The figures are in the account currency, not all in US dollars. A yen account is not charged ¥7.

The EU trading-costs page publishes a shorter commission list: USD 7.00, EUR 6.50, and GBP 5.50 round turn per standard lot, with the per-side amounts shown as half of that. If the agreement is IC Markets (EU) Ltd, do not fill AUD, JPY, HKD, or any missing currency from the Global table unless that entity publishes the row. FXBee's card includes CAD among account currencies. CAD is not on the Global commission table above. A missing row means you ask the agreement company. It does not mean you convert $7 at a spot rate and call it the charge.

USD lot scale, and where the history posts it

For the USD examples on the Global help centre, commission scales with size. MT4 and MT5 do not display that scale the same way.

The EU page's own cost example uses a USD Raw Spread account, MT4, and $3.50 per lot per side. For 2.00 lots it multiplies 2 × 3.50 × 2 and gets $14 round turn. That arithmetic holds only while the account currency and the per-side rate are the ones in the example. The same page sets the example's leverage at 1:30, which is another reminder that a 1000:1 card maximum is not the leverage inside every broker cost example.

cTrader does not use the per-lot MetaTrader table

On the EU trading-costs page, cTrader commission is $3 USD per 100,000 USD traded, charged per side, then converted into the account currency at the spot rate. Notional changes when the quote moves, so the open charge and the close charge are not forced to match.

The page's own example is a 1 lot EURUSD trade notionally priced at €100,000. At an opening price of 1.3000 the USD notional is $130,000 and the open commission is $3.90. At a closing price of 1.3100 the close commission is $3.93. The illustrated total is $7.83. Those prices are the page's example, not a live quote, and they are not a template for an MT4 USD account that should show $7.00 flat. If your rebate tracking assumes one commission number per lot regardless of platform, cTrader will keep failing the check for a reason that is printed on the pricing page.

Some symbols never had that FX commission

The Global help centre says IC Markets Global does not charge an additional commission on CFD indices. A US500 or similar index ticket that does not show $7 is consistent with that sentence. It is not a missing rebate and it is not a broken Raw Spread FX schedule. Commissions on the EU page are described for forex and precious metals. Before you decide a metals ticket "should" match the FX row, read the symbol specification on the account you hold.

Cashback programs often narrow the symbol list further than the broker's commission list. The general test for which trades usually count toward cashback is account, instrument, volume definition, and any later review. FXBee's IC Markets grid does not yet name symbols or rates, so an index trade has no published FXBee dollar amount to reconcile either.

Read one MT4 or MT5 ticket without mixing in the rebate

Pull a single closed position and write down five fields before you open the wallet: account type, base currency, platform, lot size, and the commission figure or figures on that ticket. Then compare them with the row above. Do this on one ordinary ticket, not on a week of mixed symbols.

Three USD results come up often, and only one of them is a mismatch:

• MT4, 1.00 lot, $7.00 at open and nothing at close. That is the help centre's rule that the whole charge is applied at open. It is not a forgotten close commission.

• MT5, 0.10 lot, $0.35 at open and $0.35 at close. Round turn $0.70. That matches the published scale.

• MT5, 0.01 lot, $0.04 and $0.04. The unrounded side is $0.035 and the unrounded round turn is $0.07. The help centre says the MT5 commission column keeps two decimal places, so $0.035 is shown as $0.04. The one-cent gap on the pair of sides is that rounding note, not a second fee schedule. If the gap is dollars rather than a cent, then you have a real mismatch.

Spread and swap are not inside that commission figure. A ticket can match $0.70 and still be an expensive hold if the position sat overnight or if the fill was wide. Cashback, when it is credited, does not rewrite the spread or the swap. For a comparison that keeps those lines in the same sum, see comparing cashback brokers on all-in cost rather than on the rebate headline.

Raw Trader Plus is a different rebate from the FXBee card

IC Markets also publishes its own volume program, Raw Trader Plus. It is not the FXBee cashback card, and the dollar amounts are not interchangeable. The Raw Trader Plus page says members who meet a calendar-month volume test receive a rebate on trading commissions, paid automatically and daily once the criteria are met. Membership has to keep meeting the volume test over a three-month period. Signing up is a request to the broker's client relations contact on that page. A Raw Spread account does not enter the program by itself.

The page says other assets can differ and points readers to the program terms. A later notice, dated 29 January 2025, says that from 1 February 2025 indices and commodities are no longer included in that rebate program. A gold or index trader who still expects the FX tier is reading an old version of the broker's own offer.

Do not add a Raw Trader Plus tier to a FXBee figure. There is no FXBee figure on the IC Markets card to add. Even after that card is filled in, the two credits are separate programs with separate volume tests. Confirm with each one whether the same login is enrolled in both before you put both numbers in one cost spreadsheet. Raising size only to reach 100 closed lots, so that a tier might apply, is a risk decision. The tier does not repay a losing month.

When the login still fails the check

These are ordinary misses. Each one can sit next to a login that really does say Raw Spread.

• The account is Standard, so the cost is in the spread markup, and a commission audit has nothing to match.

• The platform is cTrader, and the ticket was judged against the flat MetaTrader $7 row.

• The base currency is not the row you used. JPY 1,100 and HKD 54.25 are not $7. CAD is not published on the Global table.

• The symbol is an index, which the Global help centre says carries no extra commission, and which Raw Trader Plus stopped rebating in February 2025.

• The account was opened outside the FXBee referral path and was never linked.

• You are the introducer, and the account is your own or a related party's under your affiliate ID. Partner fees on that ID are excluded by the affiliate agreement.

• The agreement company is the Australian entity and you are a retail client hoping an inducement the ASIC order restricts will still be paid.

• You need the cashback to be large enough to justify more volume. FXBee's terms already refuse fixed rates, and the card has no rate to scale.

Age and identity still sit underneath the account type. FXBee's terms require you to be at least 18 and legally allowed to trade in your jurisdiction. The Seychelles help centre, under the anti-money-laundering rules it cites, says applications from anyone under 18 are not accepted and asks for photo identification plus proof of address. A rebate path does not replace that check. The EU client terms likewise say the agreement starts when the firm accepts you and opens the account, after its own controls, not when a rebate card is viewed.

A reconciliation order that keeps the ledgers apart

Use this once on a small week of trading before you scale. The point is to see which ledger disagrees, not to produce a blended "net pip" from memory.

1. Write down the legal name on the client agreement and the account-type name on the login.

2. Pick one closed FX ticket. Note platform, base currency, symbol, and lot size.

3. Compute the expected commission from the schedule that belongs to that entity. For a USD MetaTrader ticket, use the lot table above, including the MT4-at-open rule or the MT5 two-decimal display.

4. If the ticket matches, stop treating commission as the mystery. If it does not match by more than the micro-lot rounding, the pricing question goes to the company on the agreement.

5. Open FXBee rebate history or the wallet, and the trading account if you selected that daily destination. A missing credit is an attribution question: referral link, account number, symbol, and whether the live card has a rate for that row yet.

6. If you are also in Raw Trader Plus, reconcile that broker credit on its own volume test. Do not subtract it twice by also calling it the FXBee credit.

Leveraged FX and CFDs can lose more than any commission credit returns. ASIC's reviews found that most retail clients lose money trading CFDs. A rebate does not change execution, does not make the broker safer, and is not a substitute for the agreement. This page is a cost and eligibility check, not a recommendation to open a position.