In this guide, we will take a closer look at IC Markets deposit and withdrawal options, as well as what you need to know to ensure smooth and hassle-free transactions. As a trader, one of the most important things to consider when choosing a broker is their deposit and withdrawal options, as well as the fees and processing times associated with these transactions.
Deposit Options
IC Markets offers a variety of deposit options, including bank transfer, credit/debit card, and e-wallets such as PayPal, Skrill, Neteller, and WebMoney. Deposits can be made in USD, EUR, AUD, GBP, SGD, CAD, NZD, HKD, and JPY, and are processed within one business day. Some of the deposit options offered by IC Markets include:
- Bank Transfer: This option allows you to transfer funds directly from your bank account to your IC Markets trading account. Deposits made via bank transfer usually take 2-5 business days to reflect in your trading account.
- Credit/Debit Card: IC Markets accepts Visa and Mastercard debit and credit cards. Deposits made via credit/debit card are usually processed instantly.
- E-wallets: IC Markets accepts several e-wallets including PayPal, Skrill, Neteller, and WebMoney. Deposits made via e-wallets are processed instantly.
Withdrawal Options
IC Markets allows traders to withdraw funds using the same methods used to make deposits. Withdrawals are processed within one business day, but the time it takes for the funds to reflect in your account will depend on the payment method used. Some of the withdrawal options offered by IC Markets include:
- Bank Transfer: Withdrawals made via bank transfer usually take 2-5 business days to reflect in your bank account.
- Credit/Debit Card: Withdrawals made via credit/debit card are processed within one business day, but it may take 3-5 business days for the funds to reflect in your account.
- E-wallets: Withdrawals made via e-wallets are processed within one business day, but it may take up to 24 hours for the funds to reflect in your e-wallet account.
Fees
IC Markets does not charge any deposit fees, regardless of the payment method used. However, fees may be charged by the payment provider. For withdrawals, IC Markets charges a fee of $3.50 for withdrawals made via credit/debit card, and $20 for withdrawals made via bank transfer. Withdrawals made via e-wallets are not subject to any fees.
It is important to note that some banks or payment providers may charge additional fees for deposits or withdrawals, so it is advisable to check with your bank or payment provider for their fees.
Conclusion
Overall, IC Markets offers a variety of convenient deposit and withdrawal options with reasonable processing times and low fees. By choosing the right payment method and being aware of the associated fees and processing times, traders can ensure smooth and hassle-free transactions. It is also advisable to keep in mind that payment providers or banks may have their own fees or processing times that could affect your transaction, so it is important to do your research beforehand to avoid any surprises.