IC Markets withdrawal at a glance

Whether you are using an online broker for short-term trading or for longer-term investments, there will come a point when you may want to enjoy the fruits of your trading activity if you've been making profitable transactions, or you just need access to your funds for any reason. To do that, first you have to withdraw money from your broker account.

That doesn't sound very complicated, but brokers differ considerably in what withdrawal options they offer (such as bank transfer or credit/debit cards), as well as in the speed and convenience of withdrawal. And while withdrawal at many brokers is free in most cases, some brokers and some types of withdrawals may involve a fee.

So how does IC Markets fare in this regard? Before we dive into the details, let us show you at a glance how you can withdraw money from IC Markets and how IC Markets's withdrawal fees and options compare to some of its close competitors.

IC Markets withdrawal fees and options snapshot
IC Markets Pepperstone Vantage FX
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee Free withdrawal for credit/debit cards, bank transfers to Australian bank accounts, and electronic wallets. International bank transfer costs AUD 20. Free for credit/debit cards and bank transfer in Australia, but it charges $20 for international bank transfer; 3% for PayPal and $1 for Skrill Credit/Debit card and electronic wallet withdrawals are free of charge. One bank transfer withdrawal is free in each month, all additional withdrawals within the month are charged 20 unit of your account currency ($20, €20, etc.)

How to withdraw money from IC Markets
IC Markets withdrawal options

Withdrawal via bank transfer is by far the most common option. It is available at basically all brokers, and IC Markets is no exception.

In addition to bank transfer, IC Markets also allows you to withdraw funds to a debit or credit card. Many brokers don't offer this option, so this is a definite plus for IC Markets.

You can also withdraw money to electronic wallets. This is a nice feature that isn't available at all brokers. At IC Markets, you can withdraw money to the following electronic wallets: PayPal, Neteller, Skrill, UnionPay, Bpay, FasaPay, POLI, Rapidpay, Klarna, Bitcoin wallet.

Speed also matters. Unlike some deposit options, withdrawal is rarely instant. It usually takes at least 1 business day, but often several business days for your money to arrive.

We tested withdrawal at IC Markets and it took us 2 business days, which is considered fairly average.

To withdraw money from IC Markets, you need to go through the following steps:

  • Log in to your account
  • Select 'Withdrawal' or 'Withdraw funds' from the appropriate menu
  • Select the withdrawal method and/or the account to withdraw to (if more than one option is available)
  • Enter the amount to be withdrawn, and, if prompted, a short reason or description
  • Submit your request

Whatever method you use, you may only withdraw money to accounts or cards that are in your name.

How to withdraw money from IC Markets
IC Markets withdrawal fees

While depositing money to a brokerage account is free in most cases, this is not necessarily always true for withdrawals. International bank transfers and wire transfers in particular can sometimes incur high fees, so always check carefully if this is something that would apply to your transactions.

Unfortunately, IC Markets has no free withdrawal options. See the table below for details, and also how IC Markets's fees compare with some of its immediate competitors.

IC Markets withdrawal fees
IC Markets Pepperstone Vantage FX
Domestic bank withdrawal Free for bank withdrawal in Australia Free for bank withdrawal in Australia Free for bank withdrawal in Australia
International bank withdrawal AUD 20 or equivalent fee per withdrawal by international bank transfer $20 fee per withdrawal One bank transfer withdrawal is free in each month, all additional withdrawals within the month are charged 20 unit of your account currency ($20, €20, etc.)
Credit/Debit card withdrawal Free for credit/debit cards Free for credit/debit cards Free for credit/debit cards
Electronic wallets withdrawal Free for PayPal, Neteller, and Skrill 3% for PayPal and $1 for Skrill Free for Skrill, Neteller, and

How to withdraw money from IC Markets
Bottom line

IC Markets has multiple withdrawal options, though unfortunately none of them are free. This is a disadvantage, especially if you want to withdraw smaller amounts frequently.

To see how IC Markets's withdrawal fees and options stack up against the rest of the brokerage market, check out our broker comparison tool.

Author of this article

Ádám Nasli

Author of this article

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Ádám Nasli

Broker Expert

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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