How to Withdraw Money from IC Markets

Opening
– You hold a live IC Markets trading account and need clear steps to withdraw funds safely and quickly.
– Follow this guide if you want exact withdrawal options, required documents, processing times, and common hiccups.
– Learn what IC Markets typically does: review requests within 24 hours, process within 1 working day, and enforce rules on card refunds versus bank wires.
– Get practical rules: minimum account funding is EUR 200 (or currency equivalent), cards refund up to deposited sums, and wires handle profits or larger sums.
– Use this to pick the fastest, cheapest route and avoid delays when you need money in 0–14 business days.

Quick Answer / TL;DR
– Use PayPal or an e-wallet for fastest access. PayPal often posts instantly; e-wallets clear in 0–2 business days.
– Use bank wire for large sums or when card refunds exceed deposited amounts. Wires can take 3–14 business days.
– Card refunds return up to the sum you originally deposited by card. Withdraw profits beyond that via bank wire.
– Expect IC Markets to review withdrawal requests within 24 hours and to process them within 1 working day. Allow extra time for your bank or payment provider.

Overview — 3 Key Facts

• Present three headline facts with numbers.
• Minimum account funding: EUR 200 or currency equivalent to open a live trading account with IC Markets.
• Withdrawal-review timeline: IC checks requests within 24 hours from submission.
• Accounts processing time: IC’s Accounts team processes requests within 1 working day after review.
• Note accepted currencies and payment rules.
• Accepted deposit/withdrawal currencies include EUR, USD, and GBP.
• IC Markets does not pay third parties. Send payments only to accounts or cards in your name.
• Joint accounts and joint cards are accepted only if you are a named party on the account or card.
• Quick watch-out details with examples and numbers.
• IC charges no withdrawal fees. Expect external bank or intermediary fees of roughly $20–$40 per wire.
• Example 1: Submit a withdrawal before the 12:00 AEST cut-off and IC may process it the same day.
• Example 2: If you choose a wire you might wait 3–14 business days for funds to land in your bank.

Watch out for:
– Banks may apply currency conversion spreads of around 0.5%–2% on incoming USD/EUR payments.

Withdrawal Methods — 4 Options

Intro
– Main methods: Bank wire, Credit/Debit Card, PayPal, E-wallets (Skrill/Neteller).
– Choose based on speed, fees, and limits.

Bank wire
– Typical time: 3–14 business days. Typical cases clear in 3–5 business days.
– Best used for sums larger than card-deposited refunds and for profit withdrawals.
– Expect intermediary and receiving bank fees of around $20–$40 on average per transfer.
– Watch conversion costs: banks may apply 0.5%–2% on currency exchange.
– Note that IC does not charge withdrawal fees for wires.

Credit/Debit card
– Refunds via card post within up to 5 business days in most cases.
– Card refunds are limited to the total you originally deposited by that card.
– Withdraw profits beyond card deposits using a bank wire instead.
– IC may verify card ownership by asking for the last 4 digits and deposit evidence.
– If the original card is closed, you may need to provide a bank statement showing the last 4 digits.

PayPal
– PayPal transfers are often instant or post within minutes.
– Limits depend on your PayPal account settings and any caps PayPal imposes.
– Use PayPal for speed on small- to medium-sized withdrawals.
– Expect PayPal fees or currency conversion charges per PayPal’s schedule.
– IC supports PayPal for eligible clients and currencies.

E-wallets (Skrill/Neteller)
– E-wallets typically clear in 0–2 business days.
– Often have lower bank routing friction and lower outbound fees than wires.
– Useful for rapid access to funds with medium sums and recurring withdrawals.
– Wallet providers may apply fixed fees or percentage fees per transfer.
– Availability varies by country; verify if Skrill/Neteller are allowed for your registered jurisdiction.

Caveat
– Some methods may be unavailable in certain regions. Use bank wire for large, cross-border, or profit withdrawals.

Step-by-Step Withdrawal Process — 6 Steps

• Step 1: Log into the client portal.
• Check account balance and free margin before requesting withdrawals.
• Identify the trading account number. Example: Account 123456 has balance EUR 2,350 and free margin EUR 1,500.
• Confirm currency: USD, EUR, or GBP.
• Step 2: Choose method and enter amount.
• Select Bank Wire, Card, PayPal, or E-wallet in the portal.
• Enter an amount. Minimums: initial funding is EUR 200; some methods accept smaller withdrawals later.
• Remember: do not send funds to third-party accounts. Payments must go to your name.
• Step 3: Attach required documentation if prompted.
• Provide a government ID (passport or national ID), and proof of address.
• For card refunds, attach a bank or card statement showing last 4 digits and deposit transaction.
• For wires, attach bank account details and, if asked, a bank letter.
• Step 4: Submit request before the 12:00 AEST cut-off.
• Submit before 12:00 AEST to get same-day processing.
• If you submit after 12:00 AEST, expect processing the next business day.
• Step 5: IC reviews and Accounts processes.
• IC reviews requests within 24 hours.
• Accounts processes withdrawals within 1 working day after review.
• Example timelines:
  • Submit Monday 10:00 AEST → review within 24 hours → processed Monday.
  • Submit Monday 13:00 AEST → processed Tuesday.
• Step 6: Monitor arrival and keep records.
• Card refunds: up to 5 business days to appear on your statement.
• Bank wires: 3–14 business days; typical 3–5.
• PayPal: instant to minutes; e-wallets 0–2 business days.
• Keep screenshots, request IDs, and transaction reference numbers for disputes.

Watch out for:
– If you deposited by card and the card is closed, provide a bank statement showing the last 4 digits. Otherwise, use a bank wire.

Timelines, Limits & Fees — 5 Numbers

• IC internal timings summary.
• Review time: 24 hours for initial check.
• Processing time: 1 working day by Accounts.
• Cut-off time: 12:00 AEST. Submissions before this may process same day.
• Method-specific time ranges.
• Bank wire: 3–14 business days, typical 3–5 business days.
• Credit/Debit card: up to 5 business days to post.
• PayPal: instant to minutes in most cases.
• E-wallets (Skrill/Neteller): 0–2 business days.
• Limits and rules with numbers.
• Minimum initial deposit to open a live account: EUR 200.
• Card withdrawals are limited to the total deposited via that card.
• Withdraw profit or amounts beyond card deposits via bank wire.
• Some e-wallets impose daily or monthly limits; check provider limits (e.g., $1,000/day or $10,000/month as examples set by wallets).
• Fees and external charges.
• IC charges no withdrawal fee.
• Expect intermediary bank fees of roughly $20–$40 for outgoing or incoming wires.
• Expect currency conversion spreads of about 0.5%–2% charged by banks or processors.
• PayPal and wallet providers may apply fixed fees or percentage fees per transaction.
• Watch out for large transfers.
• Large transfers can trigger extra verification and add 1–3 business days to the timeline.

Verification & Documentation Requirements — 3 Items

• Identity documents
• Provide a government-issued photo ID (passport or national ID).
• Provide proof of address (utility bill or bank statement) showing your name and address.
• Document validity is required; ensure the ID is clear and readable.
• Bank/card proof
• For card refunds, upload a bank/card statement showing your name and the last 4 digits of the card.
• Show the deposit transaction on the statement as evidence.
• If the card is closed, supply an online bank statement or a bank letter showing last 4 digits.
• Timing impact
• Requests missing documents may be delayed beyond the standard 24-hour review.
• Additional verification can add 1–3 business days.
• For a new replacement card, email Accounts with required evidence if requested.
• Watch out for:
• Keep deposit receipts and statements for at least 6 months. IC may request them for verification.

Common Problems & Troubleshooting — 5 Scenarios

• Scenario 1: Withdrawal rejected for third-party destination.
• Fix: Resubmit to a bank account in your name or a joint account where you are named.
• Quote these when contacting support: request ID, transaction reference, amount, and date.
• Example: Request ID WX12345, ref 987654321, amount EUR 5,000, date 02-03 (day-month).
• Scenario 2: Card closed or replaced.
• Fix: Provide a bank statement showing the last 4 digits of the old card and the deposit date.
• If unable, withdraw via bank wire.
• Quote: request ID, card last 4 digits, deposit amount, deposit date.
• Scenario 3: Long wire delay beyond 5 business days.
• Fix: Contact IC support with SWIFT/transfer reference and ask for trace.
• Contact your bank to check intermediary routing and fees.
• Expect up to 14 business days in the worst-case scenario.
• Scenario 4: Fees deducted en route.
• Fix: Request confirmation of IC’s no-fee policy from Accounts.
• Collect bank fee receipts and ask your bank for breakdown of $20–$40 charges.
• Quote: transaction reference, amount, date, and bank fee amount.
• Scenario 5: Withdrawal exceeds amount deposited by card.
• Fix: Move the excess via bank wire. Card processors cannot return more than deposited totals.
• Example: You deposited EUR 1,000 by card and your balance is EUR 3,000. You can only refund EUR 1,000 to the card. Withdraw EUR 2,000 via wire.
• For each scenario, include the concrete numbers to quote when contacting support:
• Request ID, transaction reference, amount, date, and last 4 digits where applicable.

Comparison Table — 4 Methods

Intro sentence:
– Compare speed, typical fees, limits and best use case for the four main methods below.

One-sentence summary:
– For speed use PayPal or e-wallets; for large or profit withdrawals use bank wire; use card refunds to recover original deposits.

Closing — How to Choose / Bottom Line

• Decision tree:
• Need funds immediately? Pick PayPal or an e-wallet. Expect instant to 0–2 business days.
• Retrieving original card deposits or small refunds? Use your credit/debit card. Expect up to 5 business days.
• Withdrawing large sums or profits beyond card deposits? Use bank wire. Expect 3–14 business days, typical 3–5.
• Final checklist before you hit submit:
• Verify you have at least EUR 200 for live account opening or confirm your available balance.
• Upload government ID and proof of address.
• For card refunds, attach a statement showing the last 4 digits and deposit evidence.
• Submit before 12:00 AEST to aim for same-day processing.
• Keep the request ID and transaction reference for follow-up.
• Bottom line:
• Choose the method that matches your time needs and the amount you withdraw.
• Expect IC to review within 24 hours and to process within 1 working day.
• Allow banks and intermediaries 0–14 business days depending on method and region.