IC Markets Fees and Spreads
IC Markets Fees and Spreads start from the average spread of 0.2 pips EUR/USD, fees, and commission dependent on the trading account the trader is using. IC Markets charges deposit fees of $200 USD, which is equivalent to 3850 Botswanan Pula, at the time of writing.
- Lesche Duvenage
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Fees and Spreads Overview
Additional Trading Fees
Broker Fees
Pros and Cons
Final Verdict
FAQ
IC Markets at a Glance
| 🏛 Headquartered | Sydney, Australia |
| 🌎 Global Offices | Australia |
| 🏛 Local Market Regulators in Botswana | • Ministry of Finance and Economic Development (MFED) • Bank of Botswana (BoB) • Non-Bank Financial Institutions Regulatory Authority (NBFIRA) |
| 💳 Foreign Direct Investment in Botswana | 115.89 BWP Million in 2021 |
| 💰 Foreign Exchange Reserves in Botswana | 5270 USD Million in 2021 |
| ✔️ Local office in Gaborone? | No |
| 👨⚖️ Governor of SEC in Botswana | None, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana |
| ✔️ Accepts Botswana Traders? | Yes |
| 📊 Year Founded | 2007 |
| 📞 Botswana Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook |
| ⚖️ Regulation | ASIC, CySEC, FSA, SCB |
| 1️⃣ Tier-1 Licenses | • Australian Securities and Investments Commission (ASIC) |
| 2️⃣ Tier-2 Licenses | • Cyprus Securities and Exchange Commission (CySEC) |
| 3️⃣ Tier-3 Licenses | • Financial Services Authority (FSA) • Securities Commission of the Bahamas (SCB) |
| 🪪 License Number | • Seychelles – SD018 • Australia – AFSL 335692 • Cyprus – 362/18 • Bahamas – SIA-F214 |
| ⚖️ MFED, BoB, or NBFIRA Regulation | No |
| ✔️ Regional Restrictions | United States, Canada, Iran, Yemen, and OFAC countries |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 3 |
| ✔️ PAMM Accounts | MAM Accounts |
| 💻 Liquidity Providers | 25 |
| ✔️ Affiliate Program | Yes |
| 📱 Order Execution | Market |
| 📊 Starting spread | 0.0 pips |
| 📉 Minimum Commission per Trade | From $3 to $3.5 |
| 💰 Decimal Pricing | 5th decimal pricing after the comma |
| 📞 Margin Call | 100% |
| 🛑 Stop-Out | 50% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | Unlimited |
| ✅ Crypto trading offered? | Yes |
| ✔️ Offers a BWP Account? | No |
| 📉 Dedicated Botswana Account Manager? | No |
| 📈 Maximum Leverage | 1:500 |
| 📊 Leverage Restrictions for Botswana? | No |
| 💳 Minimum Deposit (BWP) | 3850 Botswanan Pula or an equivalent to $200 |
| ✔️ Botswana Pula Deposits Allowed? | No |
| 📊 Active Botswana Trader Stats | 250,000+ |
| 👥 Active Botswana-based IC Markets customers | Unknown |
| 🔁 Botswana Daily Forex Turnover | Unknown, Forex overall is $6.6 Trillion |
| 💰 Deposit and Withdrawal Options | • Credit Card • Debit Card • PayPal • Neteller • Neteller VIP • Skrill • UnionPay • Bank Wire Transfer • Bpay • FasaPay • Broker to Broker • POLi • Thai Internet Banking • Vietnamese Internet • Banking • Rapidpay • Klarna |
| 💻 Minimum Withdrawal Time | Instant |
| ⏰ Maximum Estimated Withdrawal Time | Up to 14 business days |
| 💳 Instant Deposits and Instant Withdrawals? | Yes, on PayPal, Neteller, and Skrill |
| 🏛 Segregated Accounts with Botswana Banks? | No |
| 📱 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • cTrader |
| 💻 Tradable Assets | • Forex • Commodities • Indices • Bonds • Cryptocurrencies • Stocks • Futures |
| ✔️ Offers USD/BWP currency pair? | No |
| 📊 USD/BWP Average Spread | N/A |
| ✅ Offers Botswana Stocks and CFDs | No |
| 💻 Languages supported on the Website | English, Spanish, Russian, Thai, Malay, Vietnamese, Italian, Portuguese, and several others |
| ☎️ Customer Support Languages | Multilingual |
| 👥 Copy Trading Support | Yes |
| ⏰ Customer Service Hours | 24/7 |
| 📞 Botswana-based customer support? | No |
| 💸 Bonuses and Promotions for Botswanans? | No |
| 📚 Education for Botswanan beginner traders | Yes |
| 📱 Proprietary trading software | No |
| 🤝 Most Successful Trader in Botswana | Unknown |
| ✔️ Is IC Markets a safe broker for Botswana Traders? | Yes |
| 🎖 Rating for IC Markets Botswana | 9/10 |
| 🥇 Trust score for IC Markets Botswana | 86% |
| 👉 Open Account | 👉 Open Account |
IC Markets Fees and Spreads Overview
The spread list for Botswana traders starts from 0.0 pips on major Forex pairs.
The financial instrument being traded, the account type that the trader employs, and the market circumstances on the given day of trading will all affect the spreads that traders may anticipate when they utilize IC Markets. Fortunately, IC Markets offers a transparent fee schedule that makes it easy for Botswana traders to determine their trading costs.
IC Markets provides spreads that vary depending on the parameters listed above. Even though these spreads and fees might alter, traders should anticipate seeing some of the following:
Raw Spread cTrader Account – spreads that start from 0.0 pips and commissions of $3 charged per $100,000 traded (Standard Lot).
Raw Spread MetaTrader Account – spreads that start from 0.0 pips and commissions of $3.5 charged per lot and $7 per round.
Standard MetaTrader Account – spreads that start from 0.6 pips and commission-free trading because the spreads already include the broker fees for facilitating the trade.
What fees can traders expect when using IC Markets?
IC Markets primarily charges fees in the form of spreads and, in some cases, commissions. The spread is the difference between the buying (ask) and selling (bid) prices of a trading instrument and varies depending on the specific account type and market conditions.
How competitive are IC Markets’ spreads compared to other brokers in the industry?
IC Markets is known for offering competitive spreads in the forex and CFD industry. The broker’s Raw Spread accounts, in particular, provide traders with access to tight spreads, often starting from 0.0 pips, making them highly competitive among forex brokers.
IC Markets Additional Trading Fees
Overnight and swap fees are charges or interest that are either credited or debited when Botswana traders keep their positions open for longer than a trading day. IC Markets offers a comprehensive and transparent fee schedule and overnight fees are charged according to the following:
- The position size
- The position of the trader – whether long or short
- The financial instrument that is being traded
Swap rates for any financial instrument are determined by the standard lot size, which is 100,000 units, and are according to these lot sizes. Typical overnight fees for the EUR/USD swap rate is typically -3.98 long and 0.35 short.
Botswana Muslim traders who adhere to Sharia law can convert any of their live trading accounts into an Islamic account, which eliminates any costs they may incur. Halal trading conditions are provided for Muslim traders, although traders should be aware that some financial products have extra charges.
These costs range from $5 to $80, and on Fridays, these positions are charged three times as much as they are on other days. Because IC Markets is not a spread betting broker, spread betting fees will not apply.
Are there any additional trading fees apart from spreads and commissions at IC Markets?
IC Markets typically does not charge additional trading fees beyond spreads and commissions.
Do IC Markets’ fees vary depending on the trading account type or specific trading instrument?
Yes, IC Markets’ fees can vary depending on the trading account type and specific trading instrument chosen by the trader. The broker offers different account types, such as Standard and Raw Spread accounts, each with its fee structure.
IC Markets Broker Fees
None of the payment methods supported by IC Markets incurs either deposit fees or withdrawal fees when traders fund their accounts or remove funds. According to the IC Markets website, there is no mention of extra broker fees being paid.
However, trading and non-trading costs may vary widely, and traders are encouraged to check all fees before signing up for an account.
What are the broker fees associated with IC Markets?
IC Markets primarily charges broker fees in the form of spreads and, in some cases, commissions.
Is IC Markets known for transparent fee structures?
Yes, IC Markets is recognized for its transparent fee structure. The broker provides detailed information about spreads, commissions, and other potential fees on its official website, ensuring that traders have a clear understanding of the costs associated with their trading activities.
IC Markets Botswana Pros and Cons
| ✔️ Pros | ❌ Cons | |||
| IC Markets does not charge deposit fees when traders finance the trading account | Currency conversion fees apply | |||
| There are no withdrawal fees when traders remove funds from their IC Markets account | The Islamic account attracts commissions when Muslim traders keep certain positions open for longer than 24 hours | |||
| IC Markets charges competitive spreads and has a very transparent fee schedule | ||||
| IC markets offers commission-free trading on the Standard Account |
IC Markets Final Verdict
IC Markets is one of the best forex brokers that cater to beginner traders and advanced traders alike. IC Markets is one of the largest true ECN brokers that offers the tightest spreads, allowing the broker to maintain its significant daily trading volume, ensuring that traders have enough market liquidity.
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Conclusion
Now it is your turn to participate:
Do you have any prior experience with IC Markets?
What was the determining factor in your decision to engage with IC Markets?
Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?
Have you experienced any issues with IC Markets such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below.
Frequently Asked Questions
How much do I pay when I deposit funds into an IC Markets trading account?
You do not pay any deposit fees when depositing funds into a trading account.
What is IC Markets’ minimum spread?
The minimum spreads with IC Markets start from 0.0 pips.
Can I use hedging strategies with IC Markets?
Yes, IC Markets supports the use of any trading strategies.
What type of broker is IC Markets?
IC Markets is a true ECN broker that employs a No-Dealing Desk (NDD) Model.
How does IC Markets make its money?
IC Markets makes its fees from the spreads it charges, commission fees, and other broker fees.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
