In the world of financial markets, IC markets break down all drawbacks. It was founded in 2007 and authorized by Australian Financial Services Licenses (AFSL) and later in 2009, it got an investment commission. Without any hesitation, the IC market has the best regulation in the brokers right now. IC Markets is regulated by the top securities authorities. Yes, it is regulated by (FSA) Financial Services Authority of Seychelles.
Read the detailed review on IC Markets here.
That shows you are ready to ROCK without any hesitation.
IC Markets minimum deposit is $200. That means you need $200 hundred to open a real trading account. Minimum deposit means a certain amount of money that you deposit before starting trade in the brokerage house. You can call it an initial fund or deposit.
The minimum deposit is a secret trick that brokers are using towards traders. They hide their initial cost related to creating an account and ensuring their profits through it. The higher you deposit, the higher your chance to trade for the broker. And obviously, the more you will trade, the more they get spread from you.
|IC Markets||FP Markets||LiteForex||Exness||Avatrade|
Now, let's break some points about IC markets account types-
IC Markets are trading with 3 types of accounts.
There are no deposit fees in IC markets. It will not cut anything from your deposit, but only for some cases like send money from a third party/bank or methods.
Here you can find 3 deposit methods--
Compared to the wire transfer, Debit/credit card and electronic money transfer methods are much faster. You can deposit money instantly or in a few hours. But wire transfer may need 2-3 business days. But making deposits in IC markets is not quite easy. Because we think it has lots of regulation that's why they take some extra information while depositing funds.
Every trading account has an individual base currency. IC markets have both EUR and USD-based accounts. In some regulated brokers, there are lots of accounts with different base currencies.
But IC markets not only provide the major currencies but also support the minors. You can deposit 10 different currencies. But not in all methods you can't find all currencies. Only some individual method systems provide a full currency deposit system.
There you have to pay a conversion fee if you convert your currency into an individual one. But without having this hesitation, you can save some money by providing a dual currency bank account. Or if you try your normal bank account then it may cost you some conversion fee to convert your currency.
By depositing your account, you have to follow some procedures. These are below-
Create your account
To create an account, you have to provide your all personal information like date of birth, phone no, address, email address, name, and so on. By providing all this information you are able to open an account. Then you have to verify your identity and residence. During this verification, you have to upload a copy of your ID card and a document that proves your residency.
First, you have to log in to your broker account and go to the deposit section for making a deposit. After this, select a deposit method and following these procedures.
You can deposit your money through these methods-
Electronic Transfer - This process is the easiest and fastest way I think. Just like your normal online purchase. You have to put your credentials and fill in all the information. Now, you are done.
Credit/Debit Card - Another fastest way to deposit your funds is the credit/debit card method. You can deposit your money through your debit/credit card, just like online purchasing. But, before depositing your funds, you have to scan your card and send it to your broker. This is a secure money laundering process. So, you can transfer money without any hesitation.
Bank Transfer/Wire Transfer - Bank transfer is a common method. Almost every broker provides this facility. To transfer your fund, you have to place your bank account number in the deposit section(The bank account name must have on your name which you put on the broker account). Then the broker will give you a reference code which you will write down as a comment while transferring the fund. So that the broker identifies your fund easily.
It takes some time to deposit your fund, depending on your deposit method. When the money will transfer properly, the broker sends you an email with a confirmed receipt.
Authorizing with top securities, the IC markets is the most regulated broker in the market right now. And that's why people trust this broker repeatedly. But as for deposit issues, all things are quite good, but hopefully, if IC changes their deposit system user-friendly, then it might be good.