IC Markets, a fast growing Australian forex broker, said on Thursday it has removed all fees for deposit payments through debit and credit cards. The changes have entered into effect as of 19 November.
Prior to the change, the broker charged customers 3% fees for card deposits, but now the broker covers all card fees related to deposit payments, charged by banks and payment processors.
By using credit cards, not only will traders pay no fees for deposits, they will also advantage of faster instant processing, compared to other payment methods, but also will pay no fees for withdrawals at any time convenient to them. IC Markets supports MasterCard and Visa credit cards and nine different currencies – AUD, USD, JPY, EUR, NZD, SGD, CHF, GBP, CAD
The broker also allows deposit payments through wire and bank transfers, Moneybookers, Neteller, China UnionPay, FasaPay, QIWI, Poli, and broker to broker transfers. It does not accept third-party payments, such as from bank accounts of persons, other than the trader, and payments from join accounts and cards are allowed only if the trader’s name is on them.
It charges no additional fees for deposits and withdrawals, but clients may be charged fees on payments to and from international banking institutions.
IC Markets, headquartered in Sydney, is a provider of online forex and CFD trading services for individual traders, money managers and institutional customers. It is regulated by the Australian Securities and Investments Commission (ASIC).