Withdrawal Processes Overview
Both IC Markets and Plus500 offer multiple withdrawal methods, but their execution and associated policies can differ significantly. Understanding these differences is key to a smooth experience.
IC Markets Withdrawal Process
IC Markets, known for its raw spreads and suitability for active traders, generally aims for efficiency in its withdrawal process. They support a variety of methods, including bank wire transfers, credit/debit cards, and several e-wallets like Skrill, Neteller, and PayPal. For most methods, IC Markets strives to process requests within 1 business day. However, the time it takes for funds to reflect in your account can vary, typically ranging from 1-5 business days depending on the method and your bank's processing times.
* Bank Wire: Can take 2-5 business days. International wires may incur intermediary bank fees.
* Credit/Debit Cards: Generally 3-5 business days, after initial processing.
* E-wallets (Skrill, Neteller, PayPal): Often the fastest, sometimes within the same day or 1 business day after broker processing.
IC Markets generally does not charge internal withdrawal fees, but you should be aware of potential fees from your bank or payment provider, especially for international bank transfers.
Plus500 Withdrawal Process
Plus500, a CFD-focused broker, also offers a range of withdrawal options, including bank transfer, credit/debit cards, and e-wallets like PayPal and Skrill. Plus500 emphasizes security and adherence to regulatory requirements, which can sometimes influence processing times. They typically have an internal processing period of up to 3 business days, after which the funds are released to your chosen method.
* Bank Transfer: After Plus500 processing, typically 3-7 business days to reach your account.
* Credit/Debit Cards: Similar to bank transfers, 3-7 business days after Plus500 processing.
* E-wallets (PayPal, Skrill): Often quicker once released by Plus500, potentially 1-3 business days.
Plus500 generally does not charge withdrawal fees. However, like IC Markets, third-party fees from your bank or payment provider might apply, particularly for international transactions or certain payment gateways.
Key Factors Influencing Withdrawal Times and Fees
Several factors can impact how quickly and cheaply you can withdraw funds from either broker:
* Verification Status: Both brokers require a fully verified account before any withdrawals can be processed. Ensure all KYC (Know Your Customer) documents are up to date.
* Withdrawal Method: E-wallets are often faster than bank transfers or card withdrawals.
* Currency Conversion: If your trading account currency differs from your bank account currency, conversion fees may apply, and processing can be slightly delayed.
* Weekend/Bank Holidays: Requests submitted outside of business hours or on holidays will be processed on the next business day.
* Source of Funds Policy: Both brokers typically adhere to a 'return to source' policy, meaning withdrawals must go back to the same method used for deposit, up to the deposited amount. Profits can usually be withdrawn via bank transfer.
IC Markets vs Plus500: Broker Comparison
Here’s a snapshot comparison of key trading aspects, including typical figures at the time of writing – always check the broker's official site for the most current information.
| Feature | IC Markets | Plus500 |
| :------------------------ | :---------------------------------------------------- | :-------------------------------------------- |
| Spreads (EUR/USD) | From 0.0 pips (Raw Account) or 0.6 pips (Standard) | From 0.8 pips |
| Spreads (GBP/USD) | From 0.5 pips (Raw Account) or 1.1 pips (Standard) | From 1.5 pips |
| Spreads (XAU/USD) | From 10 cents (Raw Account) | From 0.35 points |
| Commission (Forex) | $3.50 per standard lot per side (Raw Account) | Commission-free (spread-based) |
| Min Deposit | $200 (or equivalent) | £100 (or equivalent) |
| Regulators | ASIC, CySEC, SCB, FSA | FCA, CySEC, MAS, ASIC, FSCA, DFSA, ISA, FMA |
| Platforms | MetaTrader 4, MetaTrader 5, cTrader | Plus500 WebTrader & Mobile App |
*Figures are typical and at the time of writing — check broker sites.*
Verdict by Trader Type
For the Active Day Trader/Scalper
Active traders and scalpers often prioritise low spreads and fast execution. IC Markets, with its Raw Spread account offering spreads from 0.0 pips plus a commission, is generally more appealing. Their faster typical withdrawal processing for e-wallets also suits those who manage funds frequently.
For the Beginner/Casual Trader
Beginners or those who trade less frequently might find Plus500's platform more intuitive and its commission-free model simpler to understand. While withdrawals might take slightly longer, the overall process is straightforward, and the focus on CFDs is clear. However, always be mindful of CFD risks.
For the Copy/Social Trader
Neither broker is primarily a social trading platform in the mold of eToro. IC Markets offers integrations with Myfxbook Autotrade and ZuluTrade, which might appeal to those looking for external copy trading solutions. Plus500 doesn't offer integrated social trading features.
Important Considerations: CFD Risk and UK Regulations
It is crucial for all UK traders to understand that Contracts for Difference (CFDs) are complex instruments and come with a high risk of losing money rapidly due to leverage. A significant percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Both IC Markets (through its global entities) and Plus500 are regulated, providing a level of investor protection. However, regulatory bodies vary, and it's essential to trade with the entity regulated in your jurisdiction where possible. For UK residents, Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FCA).
If you are looking for a reliable broker with competitive conditions, you might consider our featured partner. Open a Vantage account.
Frequently Asked Questions (FAQs)
How long does it take to withdraw from IC Markets?
IC Markets typically processes withdrawal requests within 1 business day. The time for funds to reach your account then depends on the method: e-wallets often same day or 1 business day, credit/debit cards 3-5 business days, and bank wires 2-5 business days.
Are there withdrawal fees with Plus500?
Plus500 generally does not charge internal withdrawal fees. However, third-party fees from your bank or payment provider may apply, particularly for international bank transfers or specific e-wallet services.
Can I withdraw to a different bank account than I deposited from?
Typically, both IC Markets and Plus500 adhere to a "return to source" policy for anti-money laundering purposes. This means withdrawals up to the deposited amount must go back to the original deposit method. Profits can usually be withdrawn via bank transfer to a verified bank account in your name.
What is the minimum withdrawal amount for IC Markets and Plus500?
The minimum withdrawal amount can vary by method for both brokers. For IC Markets, it is generally around $50 (or equivalent) for most methods, while Plus500 often has a minimum of $50 (or equivalent) for e-wallets and $100 for bank transfers. Always check the specific limits on their respective platforms before initiating a withdrawal.
Next step
Open a Vantage account. CFDs carry a high risk of losing money.