All you need to know about withdrawal on IC Markets
Reading time: 4 minutes
Being able to access your money is one of the top priorities when it comes to choosing a broker. Here, we will show you the withdrawal options, possible fees, how fast you can access your funds, and why IC Markets is a reliable broker, where you can withdraw your money without safety concerns.
Withdrawal at IC Markets is simple and straightforward, according to our analysis. However, there are some issues, such as currency and closing positions, you have to pay attention to.
To give you a brief summary: IC Markets is a global forex and CFD broker. The company is regulated by finanacial authorities globally, including the top-tier ASIC.
THE ESSENCE:
- IC Markets charges $0 for withdrawal
- The withdrawal process is usually executed within 2 days
- IC Markets is a reliable broker, regulated by at least one top-tier regulator
- You can only withdraw funds to accounts in your name
First, let's see if IC Markets is available in your country?
Disclaimer: 74.32% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
How to withdraw money from IC Markets
Is IC Markets safe?
To trust your money with a broker, you need to be sure that the broker is considered trustworthy. We, at BrokerChooser, only recommend regulated brokers, meaning the broker's operations are overseen by a trusted body.
IC Markets can be considered a legit broker as it is overseen by at least one top-tier regulator, which is a great sign for reliability.
For you, this means that your money is in good hands and you will be able to withdraw your funds.
How to withdraw money from IC Markets
What withdrawal methods are available at IC Markets?
At IC Markets, you have multiple options to choose from when you would like to withdraw money. These options are the following: Bank transfer, Credit/debit cards, PayPal, Neteller, Skrill, UnionPay, Bpay, FasaPay, POLI, Rapidpay, Klarna, Bitcoin wallet.
Remember, you can only withdraw funds to accounts that are in your name.
| Withdrawal options | IC Markets |
|---|---|
| Bank transfer | Yes |
| Credit/Debit card | Yes |
| Electronic wallet | Yes |
How to withdraw money from IC Markets
How long does it take to withdraw from IC Markets?
Withdrawing your funds from a brokerage account is a bit different than withdrawing money from, let's say, a bank account. Unlike some deposit options, withdrawal is rarely instant.
Keep in mind that if you have all your funds invested, you have to close some of your positions first to get access to cash, which you can withdraw later on. After closing some of your positions, the broker might need some time to make the funds available for you for withdrawal.
At IC Markets, the withdrawal process is usually executed within 2 days.
How to withdraw money from IC Markets
What are the withdrawal fees at IC Markets?
The good news is that IC Markets charges no fees for withdrawal.
| Withdrawal option | Withdrawal fees |
|---|---|
| Credit/Debit card | $0 |
| Domestic bank withdrawal | $0.0 |
| International bank withdrawal | $12.8 |
| Electronic wallet | Free for PayPal, Neteller, and Skrill |
Conversion fees
Pay attention that if your IC Markets account's base currency and bank account's currency differ, you might be charged a conversion fee depending on your personal bank.
At IC Markets, the following base currencies are available: EUR, USD, GBP, AUD, SGD, NZD, JPY, CHF, HKD, CAD.
To avoid high conversion fees, consider opening a multi-currency account at a digital bank.
How to withdraw money from IC Markets
What to keep in mind when withdrawing from IC Markets?
Withdrawing your funds from a brokerage account is a bit different than withdrawing money from, let's say, a bank account. Unlike some deposit options, withdrawal is rarely instant.
Keep in mind that if you have all your funds invested, you have to close some of your positions first to get access to cash, which you can withdraw later on. After closing some of your positions, the broker might need some time to make the funds available for you for withdrawal.
Also, at IC Markets there is a minimum withdrawal for bank trasfers, which is $50 or equivalent currency. However there is no limit on how much or how ofter you can withdraw from IC Markets.
How to withdraw money from IC Markets
Wrap-up
You are awesome for having read through this article! Making sure you can access your funds might seem overwhelming at first, but the best time to start dealing with your finances is always right now.
You're doing great! Navigating through the world of brokerages is hard, and we want to help you along the way. If you are stuck somewhere, have a question, or a suggestion, please drop us an email.
How to withdraw money from IC Markets
FAQ
Is IC market trustworthy?
We, at BrokerChooser, only recommend regulated brokers. IC Markets can be considered a trustworthy broker as it is overseen by quality regulators globally, including Australia’s ASIC. In addition, investor protection is provided for most European clients. IC Markets also provides negative balance protection for retail customers, meaning that if the balance on your account goes into negative, you will be protected.
Is scalping allowed in IC Markets?
Yes, IC Markets does allow scalping, on both the MetaTrader 4 and MetaTrader 5 platforms. Keep in mind though that scalping is a risky strategy, as traders need to keep costs in mind after each opened and closed position.
What is the minimum withdraw from IC Markets?
We tested withdrawal by bank transfer on IC Markets, and it took 2 business days. Withdrawal by credit and debit card, and via an electronic wallet is also available and could be quicker. Keep in mind that you can only withdraw funds to accounts that are in your name.
Is IC market good for beginners?
Based on our analysis, IC Markets is not considered good for beginners. Forex and CFD trading is complex and you should probably start with a less risky product like stocks.
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