IC Markets Withdrawal Guide
Withdrawing funds from your IC Markets account is as easy as clicking a few times on the mouse. The process is fast, effortles, and unchallenging. As a trader, all you need to know is the accepted withdrawal methods, the regional limitations, and the fees you will incur.
IC Markets Withdrawal Methods, Speed, and Fees
Like many other trading platforms, IC Markets offers several payment methods that traders can use to withdraw funds from their accounts. The alternative payment options are not only easy and fast, but they are also very convenient. If a trader cannot make a transaction using one method, they can always try another.
But there is one limitation. In IC Markets, you can only withdraw funds using the payment option that you used to deposit the trading funds in the first place.
What this means is, that if you want to withdraw your funds using a wire transfer, you must first check to see if you deposited funds using a wire transfer. If you did not use a wire transfer, and instead used, let us say, a credit card, you will not be able to withdraw the funds from your account.
The following is a table of the withdrawal payment options available at IC Markets, the speed it takes to get your money, the fees incurred, and the regional limitations.
Method | Speed | Fee | Regional Limitations | |
---|---|---|---|---|
Bank cards | Yes | Instant | None | Is not available in all countries |
Wire transfer | Yes | 2 - 5 business days | None | None |
Payment services | Yes. Skrill, Neteller, Unionpay, Bpay, Fasapay, Paypal, Internet Banking, Klarna, etc. | Instant | None | None |
Crypto | No | — | — | — |
From the table above, we can see that you will not be charged any fees to withdraw money from your IC Markets account.
However, you should note that this only applied to domestic transfers. So, as long as you are making a withdrawal using the AUD currency, no matter how much money you are withdrawing, the transaction cost will be zero.
International transactions are a different case. If you withdraw funds internationally, using another currency, you will have to pay 20 AUD withdrawal fees.
Another thing to note is that sometimes the bank you are using will charge its own fees for transactions. IC Markets has no control over this situation so if you are withdrawing your funds through a bank, you should first research about the fees that you might incur.
How to Withdraw Money From IC Markets
Here is a step-by-step guide that will take you through how to withdraw funds from IC Markets.
Step 1: Log in to your IC Markets Account by filling in your Username and Password.
Log in to your IC Markets Account
Step 2: Go to the Trading option on the navigation bar and click on Funds Withdrawal
Funds Withdrawal
Step 3: Once you have clicked the Funds Withdrawal button, you will be taken to a section that requests you to conduct your withdrawal process from a secure client portal. Click the Withdrawal Form button to continue.
Funds Withdrawal
Step 4: The Withdrawal Form will take you to the window below. Choose the Withdraw button on the left navigation bar to withdraw your funds.
Withdrawal Form
Step 5: On the form below, choose the Withdrawal Method that you want to use to withdraw your funds. Remember to choose the payment option that you used to deposit funds in your account.
Withdrawal Methods
Step 6: Choose the trading account that you want to use, then fill in your bank account details, and the amount you want to withdraw. Note that there is no limit on the minimum amount you can withdraw so you can withdraw as little of your IC Markets profit as you want.
Withdrawal Amount
Step 7: Click the Submit button after you have filled the form completely and accurately. Wait for the funds to be deposited in your account. The time frame may differ depending on the method of withdrawal that you have selected.
What is IC Markets Minimum Withdrawal Amount?
There is no limit on the minimum amount that you can withdraw from IC Markets so traders can withdraw as low an amount as they want.
What are IC Markets Withdrawal Currencies?
IC Markets has 10 Withdrawal Base currencies that the traders can transact with. The ten currencies include: AUD, CAD, JPY, CHF, NZD, EUR, USD, HKD, SGD, and GBP.
Best Practices for Withdrawing Your Forex Profits
Withdraw in batches instead of all at once. Taking out smaller amounts regularly can prevent some delays and issues with limits.
Avoid withdrawals around major holidays. Processing can be slower over long weekends or holiday seasons at banks.
Double check recipients and details before confirming. Be sure to enter the correct bank account numbers to prevent any mistakes.
Follow up if withdrawals are delayed. Contact customer support if your withdrawal takes longer than expected to complete.
Consider VIP or premium accounts. Higher level accounts may offer faster withdrawal processing and higher limits.
Keep proper trading records. Maintain records of your trades, profits, and withdrawals for capital gains reporting.
FAQs
What payment options can you use for IC Markets Withdrawal?
IC Markets offers multiple payment methods in which a trader can withdraw their funds. These options include: bank or wire transfers, electronic wallets, and credit cards.
However, as much as there are alternative withdrawal choices, traders should only choose the payment option that they used to deposit their funds in the account.
How fast can I get my money once I have withdrawn it from my IC Markets account?
The speed at which you get the money you have withdrawn will depend on the payment method that you have chosen. E-wallets and credit card withdrawals take only a few hours while bank and wire transfers can take 2-5 business days.
Is there a minimum amount that I can withdraw from my IC Markets account?
No. IC Markets has no minimum amount limit that you can withdraw.
Will I incur any withdrawal fees when using IC Markets?
No. Withdrawing funds from IC Markets is completely free, but only in domestic transactions. International transactions are a different case where the trader has to pay 20 AUD.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
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.