Are you planning to open an account in IC markets and want to collect the correct information about the minimum deposit? If yes, then this article will surely assist you. So, delve into it to discover more.
Minimum deposit of IC Markets
When it comes to minimum deposit, it is worth mentioning here that you have to pay $200 to start trading. We think that it is “too much” as compared to the other brokers.
Deposit fee and methods of IC Markets
When it comes to depositing fees, you will be pleased to learn that there are no deposit fees. We think that it is a great thing because you will not have to spend your money. Now, you must want to know which deposit methods are allowed by the IC markets, so it is worth mentioning that you can deposit your funds through bank transfer, credit/debit card and electronic wallets.
In addition, the time of transfer may vary depending on the method you have chosen. If you go for a wire transfer, it will take two to three days. On the other hand, if you opt for online wallets or credit/debit card options, your funds can be instantly transferred. It should be noted that it was not user-friendly when we compared it with some other brokers.
We know that every trading account has a base currency it means that the broker will keep your deposited funds in that currency. Some brokers allow trading in one currency, while others permit you to do trading in multiple currencies.
So, we believe that it is better to deposit funds in the base currency of the broker because otherwise, you will have to pay the conversion fees. On the platform of IC Markets, you have the opportunity to trade in ten currencies.
Steps you have to follow for depositing the minimum deposit
Generally, the process of depositing funds is comprised of following easy steps. Here we’ve outlined all the steps:
Open your account
You can open your trading account by going through some easy steps, such as providing them with your data and, at last, the verification of residency and identity.
Deposit your funds
The next step you need to follow after opening an account is the deposition of funds. You can select a deposit method according to your choice.
Review your transactions
Once you have opened an account and deposited funds, the broker will email you the deposit receipt. So, if you want to confirm whether your funds have been deposited or not, then you can check out your email.
To sum up the discussion regarding IC Markets minimum deposit, we would like to say that before opening an account in any broker, it is extremely significant to check the minimum deposit along with the broker’s other features. Particularly, if you are a beginner and have lacked the information. Then it is significant to go for a broker with a lower minimum deposit because, in case of any loss or scam, your loss will be tolerable. We are optimistic that this article must have assisted you in learning a lot of new things about IC Markets; if you have any query feel free to ask.