There are a lot of things to learn about IC Markets deposits. To prevent any problems during your account funding, take a look into this article.
Among Australian brokers, IC Markets is probably one of the most well-known. This broker was created by a team of professionals in the financial service industry with the idea of bridging the gap between retail and institutional clients. Like any other trading service provider, IC Markets aims to offer an excellent experience for its clients. While this broker is mostly known as a CFDs provider, it also comes with many other benefits.
One of the most popular features of IC Markets is probably their raw spread. In fact, they claim that it has some of the lowest spreads available in the market. Furthermore, IC Markets only charges a small number of commission fees for this account, around $3.5 per lot payable per side.
IC Market's features and benefits don't stop here; there are plenty of other useful benefits traders can access by becoming a client. Here are some important conditions regarding IC Markets deposit.
IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).
On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.
Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.
The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website, proving their competence to serve their traders with important contents created by market experts that work specifically for them.
For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.
As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.
To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.
IC Markets Minimum Deposit
A broker's minimum deposit means that traders must transfer a certain amount of money to a broker to start trading. Each broker might have a different minimum deposit amount according to their policies. It can range from only a few dollars up to thousands.
In this case, IC Markets apply a minimum deposit of $200 for all payment methods. It does not matter whichever deposit method the trader chooses. The minimum amount remains the same.
There are many things to learn regarding IC Markets deposits. Here are some essential details on IC Markets deposits.
IC Markets Payment Method
There are many ways to fund a trading account in IC Markets. This ASIC-regulated broker offers various popular methods. This means traders will have abundant choices when funding their accounts. To start with, they allow deposits via various methods, including these:
- Credit and debit cards
- Wire transfers
- Union Pay
- Broker to broker
- Internet Banking (for Thai traders)
- Internet Banking (for Vietnamese traders)
These various payment methods ensure that all kinds of traders have enough options to fund their accounts. However, not all payment methods above can be used for withdrawal. According to the website, traders can only withdraw from credit and debit cards, PayPal, Neteller, Skrill, FasaPay, BPay, Rapidpay, and Klarna.
IC Markets Deposit Fees
Many novice traders don't realize the existence of broker deposit fees. Traders should also realize that deposit fees don't always come from the brokers. Luckily, IC Markets deposits are free of charge. This applies to all of their funding methods. Therefore, the trader's funds won't be reduced because of the 'hidden fee'. However, traders should be aware that there might be some fees or payments to and from some international banking institutions. In this case, IC Markets is not responsible for bank fees.
Instant Deposit for Certain Payments
Many traders wonder why their funds don't immediately arrive after transferring. Well, it's not uncommon that broker deposits can take a while, especially if the bank and the brokers are located in different countries or continents. Which is why some of them might take days or hours.
Luckily, in IC Markets most of the payment methods are instant. Meanwhile, wire transfers and broker-to-broker payments could take 3-5 business days.
To better understand IC Markets' processing time, check out the table below.
|💳Payment Method||💰Fee||⏳Time Spent||💲Minimum Deposit|
Credit and debit cards
|❌||2-5 business days||$200|
|Broker to broker||❌||2-5 business days||$200|
|Internet Banking (Thailand)||❌||15-20 minutes||$200|
|Internet Banking (Vietnam)||❌||Instant||$200|
|Rapidpay||❌||Up to 2 business days||$200|
|Kalrna||❌||Up to 2 business days||$200|
What To Do In Case of Deposit Failure?
Generally, most broker deposits rarely fail. However, there are some cases where the deposit may fail. Some signs to watch for are:
- No notification of successful transfer from the payment provider and the broker.
- No money is arriving in the trading account after the minimum time passed.
For example, a trader who paid using Rapidpay would expect their money to arrive within two business days. If their money didn't arrive until the third day, they can assume their deposit has failed. On the other hand, a trader who uses e-payment such as PayPal will expect their funds to arrive in the trading account instantly. So, if their money didn't arrive for several hours, they should find out what happened to their funds.
In this case, there are two possibilities:
- The trader's money remains in their source account. For example, if they send the money from a bank account but no notification of successful transfer appeared, the money might still be in the bank. In this case, traders can check their balance first to make sure there's no deduction yet then make another transfer.
- The trader's money got stuck in between transfers. That means the trader's balance has decreased but no new funds are found in the trading account. For this problem, trading can contact the broker or the payment provider.
Deposit Protection in Segregated Account
One thing traders should know is that IC Markets keep the trader's fund in segregated client trust accounts that are hosted by top-tier International Banks. It ensures the client's funds will always be safe and separated from the broker's funds.
IC Markets uses international banks with good reputations to keep their client's funds. According to their official claim, some prominent banks they work with are Westpac and National Australia Bank (NAB). Both banks are known as large and trusted banks in Australia, where IC Markets comes from.
Besides deposit, withdrawal is another critical factor to determine a broker's reliability. Explore the information on All You Need to Know about IC Markets Withdrawal.