The online brokerage firm IC Markets requires a capital deposit from the trader owning the brokerage account to activate the CFD and Retail foreign exchange (Forex) trading platform.
The minimum amount required with IC Markets is $0, which can be deposited via various methods, including wire transfer, debit card, credit card and eWallet.
IC Markets generally does not charge commissions on deposits, but conversion fees may apply if depositing in a currency different from the account base currency.
What is the IC Markets minimum deposit?
The IC Markets minimum deposit is $0.
IC Markets deposits and withdrawals are fee-free from the broker’s part and several base currencies are provided.
The IC Markets minimum deposit features are listed in this table below:
| IC MARKETS DEPOSIT FEATURES | CHARACTERISTICS |
|---|---|
| IC Markets Standard Metatrader Account | $0 minimum deposit |
| IC Markets Raw MetaTrader Account | $0 minimum deposit |
| IC Markets Raw cTrader Account | $0 minimum deposit |
| IC Markets Islamic Account | $0 minimum deposit |
| IC Markets Professional Account | $0 minimum deposit |
| Deposit Fees | No |
| Withdrawals Fees | No |
| Base Currencies | USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, CAD |
(74-89% of retail CFD accounts lose money)
If you’re interested in trading with one of the accounts provided by the broker, visit the IC Markets account types guide.
What are the IC Markets account base currencies?
The IC Markets account base currencies include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, CAD.
These base currencies do not change regardless of which regulatory authority you are under, or where you are based.
If you choose to use a different currency to deposit then you may well be liable to incur a conversion fee.
What are the IC Markets funding and deposit methods?
As you would expect, there are a range of common funding methods to be found as a trader with IC Markets. Still, the broker does not require a minimum deposit and for this reason you can find it in our selection of the best low no minimum deposit brokers.
The IC Markets deposit methods are listed below:
- Wire Transfer: Like almost all top forex brokers, wire transfer deposits and withdrawals are made available by IC Markets. These deposits accept all of the base currencies mentioned above with the only exception being if you are located within Europe. If this is the case, then you can choose between deposits in Euro, GBP, or USD only. There are no fees from the broker side for wire transfers, though you will want to check with your bank to verify their policy as fees could apply from that side. There is a typical processing time of between 2-5 days for wire transfer deposits.
- Credit/Debit Card: Both credit and debit card deposits are available around the world with IC Markets. Mastercard and Visa, in particular, are always available. Every base currency is facilitated with the exception of HKD and if you are located again in Europe, you must choose between a deposit in Euro, GBP, or USD. With the credit and debit card deposits, again there are no fees attached from the broker end and the deposit is instant so you can trade with your funds right away.
- eWallets: eWallets are an increasingly popular deposit method among top forex brokers. With IC Markets these methods are available around the world with the exception of within Europe, which supports only Skrill and Neteller (regulated by FCA). Traders in other places can avail of PayPal. Neteller, Neteller VIP (not available in the UK), and Skrill. When it comes to base currencies, all are supported by Paypal deposits, all except HKD, CHF, and NZD are supported by Neteller, and Neteller VIP supports AUD, GBP, EUR, CAD, SGD, and JPY. Skrill as a funding method supports 6 currencies in AUD, USD, JPY, EUR, GBP, and SGD. There are no fees to be concerned about with these deposit methods and the funds are usually available right away.
- Other Methods: Naturally, there are other methods available for you to deposit with IC Markets. These are largely fee-free and depending on your location. Outside Europe, Bpay and POLi can be used for AUD deposits, Fasapay for USD deposits, and if you are located in Thailand or Vietnam, you can avail of their online internet banking services to deposit USD within 30-minutes. Klarna and RapidPay are also available in EUR and GBP.
What are the steps to fund your IC Markets account?
Here’s what’s gonna take to open an account with IC Markets and make the first deposit:
- Open a demo or live account. In both cases, all you need to do is visit the broker’s website. The demo is suited for new traders, while the live is suited for more experienced traders. Choose the account type which is the best fit for you.
- When opening a live account, there are 3 main steps which should happen. First, provide a document to prove your identity (passport or ID) and a document to prove your residence (utility bill or bank statement): in this way IC Markets will verify your account
- After that, make your first deposit. Use one of the deposit methods mentioned and one of the base currencies available. IC Markets requires a minimum deposit of $200.
- The last thing you should do is just wait for the deposit to be processed. The time of processing should depend on the method chosen. Once it’s processed, you’re free to start trading.
How does the IC Markets minimum deposit compare with other major brokers?
The comparison between IC Markets’ minimum deposit and those of other brokers can be found in this table below:
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
| FEATURES | IC MARKETS | XM | FBS |
|---|---|---|---|
| Minimum Deposit | $0 | $5 | $1 |
| Bank Wires | Yes | Yes | Yes |
| Credit/Debit Cards | Yes | Yes | Yes |
| PayPal | Yes | No | No |
| Skrill | Yes | Yes | Yes |
| Neteller | Yes | Yes | Yes |
| Number of Deposit Methods | 10+ | 6 | 9 |
| Account Currencies | USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, CAD | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | EUR, USD |
Does IC Markets offer deposit bonuses?
IC Markets doesn’t offer deposit bonuses at the moment.
When it comes to IC Markets bonus types that are offered, unfortunately, the broker does not offer any type of trading or no deposit bonus.
This may change in the future with the possibilities open outside the strict European regulations, but at the moment this is not the case.
If you want to check which brokers offer a deposit bonus, we suggest reading also our forex brokers bonus promotions article.
To learn more, read our IC Markets review.