How to delete an IC Markets account
To close your IC Markets account, you should contact their customer support or follow their account closure procedure, typically found on their website. Ensure all positions are closed and withdraw any remaining funds before initiating the closure process.
Traders who decided to delete an IC Markets account should follow a specific algorithm. In this article, TU will walk you through the process of archiving an inactive account or hiding it for a while.
Notably,IC Markets does not provide the option of complete deletion of user accounts. However, it is possible to hide your trading account by clicking the arrow on the account summary page, which is located directly next to the account number.
To do this, you first need to close all orders and withdraw funds from the balance using any of the available payment methods. Following that, the trading account can be put into "sleep mode" for any period. Contact the company's support if you no longer need IC Market services and want to close your user account.
Inactive accounts with zero balance are archived automatically after some time. If you intend to continue working on the platform, contact client support and ask them to activate the archived account or create a new one.
IC Markets account types compared
The IC Markets account types have several similarities. Moreover, all accounts are fully segregated from the company funds. The Standard Account comes with zero fees and low spreads starting from one pip. The Raw Spread account charges you $7 per standard lot round-turn. The fees may vary depending on the base currency. IC Markets is fully regulated and offers a wide variety of fee rates. TU has compared IC Markets trading conditions, spread, minimum deposit, etc.
The minimum deposit amount for a cTrader RAW account is 200 currency units, while for an MT4/MT5 account, the minimum deposit is 1,000 currency units. You can make deposits and withdrawals via various methods, though it may take several business days for the money to reach your bank account. Regardless of account type, IC Markets has flexible terms for both withdrawals and deposits.
IC Markets Spread and Fees ExplainedHow to withdraw funds from IC Markets before deleting the account?
Before you delete your IC Markets user account, you need to withdraw any remaining balance. There is no charge for withdrawals to cards (debit or credit), electronic payment systems, or bank transfers to accounts in Australian financial institutions. Fees for international bank transfers will be at least 20 Australian dollars.
Important! You can withdraw funds only to those accounts that were opened in your name. The terms of withdrawal are determined by the payment method you select.
The withdrawal algorithm for the IC Markets account is as follows:
open your user account and find the "Transfers" tab in the main menu;
click "withdraw funds" in the drop-down menu;
enter payment details (for example, your bank account details);
specify the amount you want to receive and click the "Send" button.
After withdrawing funds from the balance, IC Markets will automatically archive the account after a certain time. If you no longer need the broker's services and want to delete the account permanently, contact the technical support specialists.
IC Markets Сopy Trading ReviewIC Markets account deletion algorithm
If you decide to delete your IC Markets account, follow the step-by-step instruction outlined below:
log in to your IC Markets user account;
finish working with orders;
withdraw all funds from the balance;
archive your user account (detailed instructions are provided above);
if you want to permanently delete an account in IC Markets or reactivate an archived one, contact client support service.
As you can see, deleting a user account on the IC Markets platform is easy; simply follow the step-by-step instructions.
Do you feel the urge to break free from your trading endeavors on IC Markets? It's often necessary to take a step back, review, and reclaim control of your financial path.
Whether you're exploring alternative trading platforms or simply want to step away for a while, canceling your IC Markets account might be a tough procedure. In this article, we will provide a step-by-step guide on how you can close your IC Markets account.
Notably, IC Markets does not allow you to completely remove your account. You may, on the other hand, hide your trading account by clicking on the arrow next to the account number on the account summary page. This will transfer your account to the hidden accounts area and delete it from the page.
What happens when you close IC Markets account
When closing your IC Markets accounts there might be some bumps along the way. Here are few pointers to consider:
Close Open Positions and Cancel Orders
Before deleting your IC Markets account, please be sure to close all active positions and cancel any pending orders. Doing so guarantees that your account is settled and that no additional trading activity occurs once it has been closed.
Keep Copies of Documents and Account History
It is advised that you preserve duplicates of vital papers relating to your IC Markets account, such as identity and proof of address. Keeping a record of your account history, including statements and transaction information, can also be beneficial for future reference or tax purposes.
Withdraw Remaining Funds
Ensure to withdraw any leftover money before terminating your IC Markets account. Start a withdrawal request and choose your chosen mode of withdrawal. To complete the withdrawal process, follow the instructions provided by IC Markets. Be careful of any possible withdrawal fees or minimum withdrawal criteria.
Update Contact Information
If you have changed your contact information, such as your address or phone number, you should notify IC Markets before canceling your account. By doing so, it ensures that they have the most up-to-date information on file for future correspondence if necessary.
Seek Clarification from IC Markets
It is recommended to contact IC Markets directly if you have any particular issues or questions concerning the account cancellation procedure. Contact their customer service and ask for clarification on any further processes or criteria for canceling your account.
Can I reopen an IC Markets account I closed?
Once an IC Markets account that has been closed cannot be reactivated. However, by following these easy steps, you may quickly register a new account.
Visit IC Markets' Website
Go to the IC Markets official website and click the "Open Account" or "Register" option.
Complete the Registration Form
Fill in the essential information on the registration form, such as your personal information, contact information, and chosen account type.
Verify Your Identity
You will be required to verify your identification as part of the account opening procedure. A valid identity document, such as a passport or driver's licence, and evidence of address, such as a utility bill or bank statement, are usually required.
Fund Your Account
You can fund your new IC Markets account once it has been successfully established. To deposit funds into your account, select your chosen deposit method and follow the steps provided. IC Markets accepts a variety of payment methods, including bank transfers, credit/debit cards, and e-wallets.
FAQ
How do I unsubscribe from IC Markets?
To unsubscribe or close your IC Markets account, contact customer service for instructions on how to do so.
How many accounts can I have with IC Markets?
Multiple trading accounts are permitted at IC Markets, although the exact number is subject to their rules and conditions.
Is the IC market safe or not?
It is safe, authorities like ASIC and the FSA regulate IC Markets and enforce rules to protect client funds.
How do I delete an IC Markets user account?
IC Market does not offer the option of completely deleting user accounts from the client zone. However, you can archive your trading account.
Are inactive accounts blocked?
Inactive accounts with zero balances are archived automatically after a certain period.
How do I get back to work on the IC Markets platform?
If you intend to continue working on the platform, contact client support and ask them to activate the archived account or create a new one.
What should I do before archiving or closing an account?
Before closing your account or archiving it, finish working with orders and withdraw all profit from account balance.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.