IC Markets Minimum Deposit

This page is a desk-based comparison built from each broker's published pricing and terms and our recorded data; we have not tested these accounts except in our recorded tests.

What Is IC Markets Minimum Deposit

The entity you are opened with decides the terms, and a global reader lands with Raw Trading Ltd, the FSA Seychelles company behind IC Markets Global. It asks for no minimum deposit on its main accounts, though Raw Pro requires US$5,000 and Raw Pro+ US$100,000, both in early access. Residents of the United States, Canada, Iran, and North Korea cannot open accounts, and I would treat that list as the first thing you check before signing up.

When funding a Raw Spread (true ECN account) or Standard account, the funding requirement is set by the base currency. Below are details of the ‘top 5’ base currencies, traders choose when opening an account and their respective funding requirements.

IC Markets Minimum Deposit In Pounds

A GBP account carries the same US$0 minimum, so your first deposit can be any amount. You can fund it with a card, PayPal, Neteller, or Skrill, all instant, with Rapidpay and Klarna clearing within 2 business days, or by bank wire taking 2 to 5 business days. I consider that range more than enough for a pound-based trader.

IC Markets Minimum Deposit In Euros

See European traders for the group’s Cyprus company, which is the entity European residents are opened with instead of Raw Trading Ltd. At Raw Trading Ltd a EUR account needs no minimum, and you can fund it by card, PayPal, Neteller, or Skrill, all instant, with Rapidpay and Klarna clearing within 2 business days, or by bank wire taking 2 to 5 business days. I would still read the Cyprus company’s own terms if you trade from Europe.

IC Markets Minimum Deposit In Dollars

USD, AUD, and SGD accounts at Raw Trading Ltd all carry the US$0 minimum, so you can start with whatever balance suits your strategy. Cards, PayPal, Neteller, and Skrill work for every base currency and clear instantly, while bank wire takes 2 to 5 business days. AUD accounts add BPAY and POLi, Thai and Vietnamese internet banking are available, and UnionPay serves RMB accounts, and I see no common funding route missing here.

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IC Markets Minimum Deposit Comparison

Below compares the minimum deposit requirements of leading forex brokers based on the four major currency pairs.

Saxo Markets has no minimum deposit, so account size is not a barrier when comparing Saxo Markets vs IC Markets. And, when we look at IC Markets vs Axi, Axi requires no minimum deposit which reduces the barriers to signing up for accounts.

A $200 deposit is realistically the smallest amount required to trade currency markets. Trading with low deposits makes it difficult to earn enough profits to make the investment worthwhile, this is why most brokers will encourage higher minimum deposits.

Raw Trading Ltd asks for US$0, and I consider about US$200 the realistic floor for trading currencies well, so treat the absence of a minimum as flexibility rather than a target.

IC Markets Deposit Methods And Fees

IC Markets charges nothing on deposits or withdrawals, though your bank may add its own fee. The help centre notes an A$20 bank fee on wire payouts covering Bitcoin, FasaPay, bank transfer, and broker to broker withdrawals, and the withdrawal page warns that an international wire can run to 14 days. I rate fee-free funding as a genuine strength, and you can read the IC Markets Review for more on fees and funding.

The methods open to you depend on your base currency. Cards, PayPal, Neteller, and Skrill clear instantly for every base currency, as do cryptocurrency deposits in BTC, ETH, USDC, and USDT, while BPAY, an AUD option, takes 12 to 48 hours and bank wire takes 2 to 5 business days. I consider that range broad enough to suit almost any funding preference.

Depositing via more traditional payment methods is also available. In this regard, IC Markets clients can conduct deposits via credit and debit cards and bank transfers. The basic bank wire transfers processing time can be up to two to five business days. For any technical questions regarding your deposit and withdrawals, feel free to contact IC Markets’ customer support service which is live 24/7.

Base Currencies Available

When a retail investor opens a live account with any broker, a base currency needs to be selected. This currency will normally be the trader’s native currency conversion fees when deposits arec made. Some brokers such as IC Markets and IG offers dual accounts so traders can nominate two different base currencies for use when appropriate. IC Markets offers 10 base currencies as shown below:

IC Markets’ full list of supported currencies includes USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, CAD. IC Markets offers all the major currencies, along with a selection of minor ones however some currencies are not available such as the South Africa ZAR.

Traders who want to pick IC Markets in regions where the local base currency is not available will need to choose a major currency (such as the USD) and then transfer funds across which means traders will incur conversion charges. To minimise currency conversion fees, an intermediary service such as OFX or Transferwise is suggested. Using an intermediary service will result in significant savings compared to a wire transfer.

How To Open An IC Markets Account

There are three main steps to open an IC Markets account and then make a process.

1) Open The IC Markets Account

IC Markets offers a 100% online joining process which can be viewed here. This joining process involves providing your personal details, giving details about yourself and then configuring the trading account. The final stage of the joining process is the declaration confirming that all the information provided is accurate. This is an important requirement as IC Markets need to be sure the finances are not used for money laundering. The declaration will need to be verified with some sort of identification such as bank accounts, driver’s licence or passport details.

2) Make A Deposit

Once an account is opened traders will be directed to the IC Markets deposit section. A trader needs to select a deposit method that accepts the base currency selected. Factors a trader needs to consider when selecting a deposit method are:

• How long will it take for funds to be cleared using the payment method? (e.g. Credit Card is instant while wire transfer can take days)
• Are there any fees from this payment method? (IC Markets doesn’t charge deposit fees but institutions may have their own fees)
• Are you happy for the withdrawal to go back to this deposit method (IC Markets requires withdrawals to go back to the funding method)

3) Monitor The Deposit

Most deposit methods on the global site are instant, cryptocurrency included, while Bpay takes 12 to 48 hours, and wire transfers and broker to broker deposits take 2 to 5 business days. It’s worth monitoring to ensure these funds clear (as issues can occur) and IC Markets will send a confirmation e-mail once the funds arrive.

Disclaimer: the global site restricts residents of the United States, Canada, Iran, and North Korea, so you cannot open a live account from those countries.

Free Demo Account

A free practical way to discover IC Markets’ ECN trading conditions is to open a demo account. The demo account is free, but the only requirement is to complete an online registration form. The risk-free demo account allows prospective clients to explore the forex market and test all IC Markets’ features.

All account types, including the Islamic account, are supported for virtual testing. Additionally, the demo account can be tested on MetaTrader 4, MetaTrader 5 and cTrader platform, which are supported across multiple devices, including mobile apps (Android and iOS).

Traders can choose the High Leverage Forex Brokers with a range of instruments available, as well as Automated Trading Platforms for algorithmic trading. Besides forex, 6 different financial markets can be traded (indices, commodities, stocks, cryptocurrencies, futures and bonds).On the live Raw Spread account, clients trade with raw pricing, and the firm advertises an average EUR/USD spread of 0.1 pips with a commission of US$3.50 per lot per side, or US$7 round turn, while its spreads table prints 0.01 pips in the EUR/USD Raw average column. The spreads are low due to the IC Markets network of 25 liquidity providers and there are no restrictions on scalping or hedging.

Conclusion On IC Markets Deposit Requirements

IC Markets sits ahead of most brokers I compare on base currency choice, funding options, and the absence of deposit charges, and I would treat about US$200 as the sensible floor for currency trading. Raw Trading Ltd asks for US$0, which leaves the entry point entirely to you. Whatever your starting balance, the deposit and funding category is one this broker meets in full.

Your money is held together with other clients’ funds, separate from the company’s own working capital, and any interest those accounts earn stays with the company, a point I would weigh before depositing.

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