If you’re interested in trading with IC Markets there is every chance that you have already taken a look at our IC Markets review.
This will provide you with much of the information you need in order to get started.
Here we are going to get our feet wet a little more with information around the specific areas of IC Markets minimum deposit amounts, and IC Markets funding methods.
This should present you with all the options you need when depositing and beginning to trade with the broker.
Let’s get started:
Table of contents
IC Markets Minimum Deposits
IC Markets minimum deposit is officially 0 USD. This means that the choice is up to you as the trader. This does not change regardless of where you are based, the account type or the deposit method. To further help you in avoiding conversion fees, the broker has made available a lot of base currencies.
|IC Markets Minimum Deposit||Features|
|Minimum Deposit||0 USD|
|Base Currencies||USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, CAD|
Of course, it isn’t possible to start trading in the real markets without depositing money. That’s why though IC Markets does not require a minimum deposit, the broker recommends depositing at least 200 units of the currency you wish to fund your account with.
If you’re interested in trading with one of the best ECN brokers in the forex industry, visit the IC Markets website and open an IC Markets Account.
IC Markets Metatrader Standard Account
The IC Markets Standard Account type makes the well-known and respected MT4 and MT5 trading platforms available for you. This account type features no commission and low spreads which start from 1 pip.
This account type also features micro lot trading if you require it. The IC markets Standard Account minimum deposit is 0$. For a complete analysis on the broker’s offer, you should check our IC Markets account review.
IC Markets Metatrader Raw Spread Account (True ECN)
The IC Markets Metatrader Raw Spread account makes ECN execution of trades available through both Metatrader platforms. This account has spreads that begin from 0 pips although a commission is charged within trading on this account type. That commission, just like other ECN-STP brokers, amounts to $7 per round trade on a lot.
Again, the IC Markets Raw Spread minimum deposit requirement is 0$.
IC Markets cTrader Raw Spread Account (True ECN)
The final account type we will examine is the cTrader Raw Spread account. This account type has many similarities with the Metatrader Raw Spread account and again facilitates ECN-executed trades with a spread starting from 0 pips and commission applied. The commission here is slightly lower at $6 per round turn on a currency lot.
Again micro-trading is catered for and no minimum deposit applies.
If you want to know more about the best cTrader forex brokers you should be interested in reading our guide.
IC Markets Minimum Deposit Comparison with Other Major Brokers
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
|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, JPY|
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 USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and Canadian Dollar. 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.
No 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, no specific 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. You can check with our article on the best PayPal forex brokers which advantages you may be able to get here. 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 no minimum deposit from IC Markets to be concerned about.
The next IC Markets deposit method you may be wondering about is cryptocurrency.
The only crypto which you can use in funding your account is Bitcoin, but there are no fees attached to this other than the minimal fees from your own BTC wallet which can be directly used to deposit.
The processing time for this method depends on the crypto network traffic but usually completes within 2-hours.
Bitcoin deposit is not supported within Europe.
Naturally, there are other methods available for you to deposit with IC Markets.
These are largely fee-free and depending on your location. The exception here is when you use China UnionPay cards. This facilitates a CNY deposit, but there is a 3.5% fee attached.
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.
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.
IC Markets Minimum Deposit FAQs
How long do IC Markets withdrawals take?
IC Markets withdrawals are processed within 24 hours and the funds will take between 2-5 business days to reach your bank account depending on the method you have chosen. To enable faster processing of withdrawals, all account holders must submit withdrawal requests from inside their secure client area.
Can I open an account with ZAR?
No. You can’t open an account with ZAR at present. With that said, the broker enables you to open an account with a wide selection of other account base currencies including USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD which are all available.
Does IC Markets give a bonus?
IC Markets does offer a selection of bonuses to some traders. This though will depend on where you are located and the regulatory body you fall under. EU and UK regulated traders are not eligible for any bonus.
About the Author
Always full of different interests, Luca started to get interested in the field of personal finance in 2014.
His self-taught studies led him year by year to become increasingly interested in the investment field.
To date, Luca actively invests in the stock market and cryptocurrencies, focusing on rising markets and the industries of the future.
His main role at InvestinGoal.com is to analyze and study in the smallest detail the brokers and their platforms, while checking carefully that the information shown by them is genuine.
In this way, he provides readers with a complete and truthful overview of the broker they might be interested in.