Exness Review
IC Markets Fund Withdrawal Process
Overall, IC Markets offers a simple Fund Withdrawal process for Botswana Traders. IC Markets is considered a low-risk and can be summarized as trustworthy and reliable and has a Trust Score of 85% out of 100.
- Lesche Duvenage
Jump to:
Fund Withdrawal Step by Step
Detailed Withdrawal Information
Terms and Conditions
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 |
How to Withdraw Funds at IC Markets Step by Step
Here is a step-by-step guide that will take you through how to withdraw funds from IC Markets.
Step 1: Log in
Log in to your IC Markets Account by filling in your Username and Password.
Step 2: Funds Withdrawal
Go to the Trading option on the navigation bar and click on Funds Withdrawal
Step 3: Withdrawal Form
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.
Step 4: Withdraw Funds
The Withdrawal Form will take you to the window below. Choose the Withdraw button on the left navigation bar to withdraw your funds.
Step 5: Withdrawal Method
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.
Step 6: Trading Account
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.
Step 7: Submit
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.
Detailed Withdrawal Information for Traders
Botswana traders must note that withdrawal requests that are sent in before noon (Australian Eastern Standard Time or Australian Eastern Daylight Time) will be handled the next business day.
IC Markets Deposit Currencies, Deposit and Withdrawal Processing Time
| 💰 Payment Method | 💵 Deposit Currencies | 💸 Deposit Processing | 💳 Withdrawal Processing |
| Credit Card | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD | Instant | 3 to 5 working days |
| Debit Card | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD | Instant | 3 to 5 working days |
| PayPal | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD | Instant | Instant |
| Neteller | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD | Instant | Instant |
| Neteller VIP | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD | Instant | Instant |
| Skrill | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD | Instant | Instant |
| UnionPay | RMB | Instant | Instant |
| Bank Wire Transfer | AUD, USD, JPY, EUR, NZD, SGD, GBP, CAD, CHF | 2 to 5 working days | Up to 14 days |
| Bpay | AUD | 12 to 48 hours | 3 to 5 working days |
| FasaPay | USD | Instant | 2 to 3 working days |
| Broker to Broker | AUD, USD, JPY, EUR, NZD, SGD, GPB, CAD, CHF, HKD | 2 to 5 working days | 3 to 5 working days |
| POLi | AUD | Instant | 2 to 3 working days |
| Thai Internet Banking | USD | One business Day | |
| Vietnamese Internet Banking | USD | Instant | One business Day |
| Rapidpay | EUR, GBP | Instant | 3 to 5 working days |
| Klarna | EUR, GBP | Instant | 3 to 5 working days |
Fund Withdrawal Terms and Conditions
Botswana traders who wish to withdraw from their IC Markets account must note that the following conditions apply:
➡️ The deadline for withdrawal requests is noon AEST/AEDT. If your withdrawal request is received by this time, it will be processed on the same day. If you submit your withdrawal after this time, the processing time is extended until the next available business day.
➡️ There are no withdrawal fees charged by IC Markets. However, you should be aware that certain financial institutions may impose extra costs.
➡️ If you desire to withdraw more than the amount placed by Verified by Visa/MasterCard Secure Credit / Debit Card, you will be forced to use an alternative method or a bank transfer.
➡️ Withdrawals from PayPal, Neteller, and Skrill must be done from the same account from which money was first transferred.
What are the withdrawal terms and conditions for fund withdrawals at IC Markets?
IC Markets has specific terms and conditions for fund withdrawals to ensure a secure and efficient process. Traders are generally required to initiate withdrawals using the same method and currency they used for their deposit.
How long does it typically take for IC Markets to process fund withdrawals?
The processing times for fund withdrawals at IC Markets may vary depending on several factors, including the withdrawal method and the verification process.
IC Markets Botswana Pros and Cons
| ✔️ Pros | ❌ Cons |
| IC Markets does not charge any withdrawal fees | BWP withdrawals are not supported and are subject to currency conversion fees |
| The processing time is quick according to the payment method Botswanans choose | |
| IC Markets support flexible withdrawal methods | |
| IC Markets guarantees client fund safety |
IC Markets Final Verdict
Overall, IC Markets is very competitive in terms of its trading fees and spreads.
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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
Can I trust IC Markets with my funds?
IC Markets has a high trust score and is a trustworthy broker that keeps all client funds secure in segregated accounts.
There are no reports of clients struggling with the IC Markets withdrawal process, a red flag notable with less secure brokers.
What are the withdrawal fees that I could encounter with IC Markets?
IC Markets charges no withdrawal fees, but you may face processing fees your bank charges.
How can I withdraw my funds from IC Markets?
You can choose from these withdrawal methods:
- 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
How much time would IC Markets need to complete my withdrawal request?
The processing period for instant withdrawals is typically a few minutes. However, withdrawal methods such as bank wire might take several days.
Does IC Markets have a minimum withdrawal amount?
IC Markets does not set any minimum withdrawal amounts.
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.
