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:
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.
As you would expect, there are a range of common funding methods to be found as a trader with IC Markets. 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. Even so, UK traders can still use eWallets although only Neteller is available to UK traders.
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 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.
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.
Other deposit methods from within Europe include Klarna and RapidPay which both allow for EUR or USD deposit.
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 Minimum Deposits
Having had a look at all of the funding methods available, we can see that no minimum deposit particularly applies to any funding method you wish to use.
Now let us take a closer look at whether any IC Markets minimum deposit is needed on any of the IC Market account types.
In fact we can see that no minimum is required, although a 200 USD deposit is recommended so that you can get the most out of the services offered by the broker. This does not change regardless of where you are based.
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 and as mentioned above, no IC Markets minimum deposit is needed to begin trading.
Metatrader True ECN Account
The IC Markets Metatrader True ECN account as referred to in the name 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 amounts to $7 per round trade on a lot.
Again you are free from any minimum deposit requirement.
cTrader True ECN Account
The final account type we will examine is the cTrader True ECN account. This account type has many similarities with the Metatrader ECN 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.
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 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.