IC Markets USD/JPY Spread & Trading Conditions 2026

IC Markets quotes USD/JPY — the US dollar vs Japanese yen pair, a key carry-trade major — with a standard spread of 1.0 pips (Standard). 1.0 pips (Standard) places it 14th out of the 36 brokers we track quoting USD/JPY, tighter than the median of 1.1. On raw/ECN accounts the spread is typically 0.0-0.1 pips + $3.50/side (Raw). Spreads are quoted in pips and widen or tighten with market volatility and account type.

Fee context from our review: IC Markets offers industry-leading pricing with True ECN Raw Spread accounts featuring spreads from 0.0 pips plus commission ($7 round turn on MT4/MT5, $6 on cTrader). Standard accounts are commission-free with spreads from 0.6-0.8 pips. No deposit fees, no withdrawal fees (except international bank wires), and no inactivity fees. High-volume traders benefit from a three-tier volume rebate program.

Across the 36 public brokers we track quoting USD/JPY, IC Markets ranks 14 against a median of 1.1. Ranked on published standard-account quotes — see our [methodology](/our-methodology/).

When trading USD/JPY at IC Markets:

Minimum deposit: $200
Maximum leverage: 1:1000 (Global) | 1:30 (Retail)
Commission: $3.50/lot (Raw Spread)
Execution: True ECN
Platforms: MT4, MT5, cTrader, TradingView

Spreads shown are indicative of the account types we assess. Raw/ECN accounts generally charge a per-lot commission in exchange for tighter raw spreads, while standard accounts build costs into the spread itself.

The USD/JPY spread is driven by liquidity depth, market volatility, the time of day (London and New York sessions are tightest), and the account model you choose. IC Markets supports MT4 and MT5 for spread-sensitive execution.