IC Markets does require a minimum deposit of $200 to open any account type: Raw Spread cTrader, Raw Spread MetaTrader and Standard MetaTrader.
IC Markets deposits and withdrawals are fee-free from the broker’s part and several base currencies are provided.
Everything you need to know about the IC Markets minimum deposit features is below.
|Features||IC Markets Minimum Deposit|
|IC Markets Standard Metatrader Account||200$|
|IC Markets Raw MetaTrader Account||200$|
|IC Markets Raw cTrader Account||200$|
|IC Markets Islamic Account||200$|
|IC Markets Professional Account||200$|
|Base Currencies||USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, CAD|
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(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.
IC Markets Base Currency
As a major broker, IC Markets makes a variety of base currencies available for you to trade with. These base currencies do not change regardless of which regulatory authority you are under, or where you are based. This can be something of a positive for many traders who like to choose their base currency.
The options available include:
If you choose to use a different currency to deposit then you may well be liable to incur a conversion fee.
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.
Here we will take a closer look at the conditions surrounding each method.
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.
A $200 IC Markets minimum deposit amount applies here.
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. Once again, a $200 minimum deposit applies here.
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. Again, there is a $200 minimum deposit from IC Markets to be concerned about.
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.
How to deposit into your IC Markets account: step by step tutorial
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.
IC Markets Minimum Deposit Comparison with Other Major Brokers
|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|
IC Markets Deposit Bonus
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.
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