It's not uncommon to overlook billing details until an unexpected charge catches your attention—perhaps an auto-renewal that you weren’t aware of. This guide is designed to clarify the refund process at IC Markets, detailing eligibility criteria and providing step-by-step instructions for requesting your money back swiftly. Whether you're a new user or have been with IC Markets for a while, understanding your refund options can provide peace of mind and help you manage your trading experience more effectively.
What You Should Prepare Before Applying For Refund
IC Markets Account Information: Ensure you have your account number ready, as this is essential for the refund process.
Transaction ID: Gather the transaction ID related to the trade or deposit for which the refund is requested.
Proof of Transaction: Collect bank statements, credit card statements, or screenshots showing the initial deposit or trade that needs a refund.
Email correspondence: Retain any related email communications with IC Markets regarding the dispute or refund request.
Reason for Refund: Clearly outline your reason for the refund request, such as unauthorized transactions or technical issues affecting trades.
Withdrawal Information: Provide the withdrawal method you used, along with any details pertaining to the original payment method for processing the refund.
Proof of Identity: Prepare identification documents, such as a valid passport or driver's license, if required by IC Markets for verification purposes.
Compliance with Terms: Review IC Markets' refund policy to ensure your request complies with their terms and conditions.
How Long Does it Take to Get a Refund?
Payment method
How long it takes*
Credit/Debit Card
3-5 working days
Bank Transfer
3-7 working days
Skrill
1-2 working days
Neteller
1-2 working days
PayPal
1-3 working days
*Working days are Monday to Friday, and don't include public holidays.
What are my Rights? Am I eligible for a Refund from IC Markets
At IC Markets, users engage with a broker that provides access to a range of trading services, including forex and CFDs. Understanding the eligibility for refunds is vital for users managing their accounts and investments. Refund situations can arise based on specific circumstances related to account management or subscription services.
Users might be eligible for a refund under the following scenarios:
Withdrawal Issues: Refund requests may be considered if there are complications or delays associated with withdrawals from user accounts.
Account Closure: Users who close their accounts may inquire about potential refunds for unused credits or promotional funds, if applicable, based on IC Markets policies.
Service Disruptions: If users experience significant service disruptions or outages that impact their trading activities, they might explore refund options related to affected services.
Inactivity Fees: Users may want clarification on charges for inactivity, and under certain conditions, may request a refund for these fees during their account management.
Promotional Offers: If users opt into promotional offers but do not fully utilize the offered services, they might inquire about eligibility for refunds associated with those promotions.
It is recommended that users consult IC Markets' specific policies or customer support for detailed guidance on their individual situations pertaining to refunds.
Step-by-Step Process to Request Your IC Markets Refund Like a Pro
Navigate to the Support section at the bottom of the page.
Click on Live Chat or Submit a Ticket to initiate your request.
In your message, clearly state that you want a refund for your membership or subscription.
Emphasize that the subscription renewed without prior notice, if applicable.
Be polite but firm, highlighting that the account has been unused, if true.
Provide the necessary details like your account number and transaction date for faster processing.
Wait for a response and follow up if you haven’t heard back within a reasonable time frame.
If you purchased through Apple:
Open the Settings app on your iPhone or iPad.
Tap your Apple ID at the top of the menu.
Select Subscriptions.
Find and tap on your IC Markets subscription.
Scroll down and choose Report a Problem.
Select Request a Refund and specify the reason.
Mention that the subscription renewed unexpectedly or that you have not used the service.
Submit your request and check your email for a confirmation.
If you purchased through Google Play:
Open the Google Play Store app on your device.
Tap the Menu icon, then go to Account.
Select Purchase History and find the IC Markets subscription.
Tap on the subscription and select Refund.
Fill out the refund request form.
Emphasize that the subscription was renewed without notice or that the service has not been utilized.
Submit your request and wait for a confirmation email.
If you purchased through Roku:
Navigate to the Roku website and log into your account.
Select Manage Account from the menu.
Click on Subscriptions and locate your IC Markets subscription.
Look for a link that says Request a Refund, if available.
If not directly available, contact Roku support through their Help Center.
In your message, cite that the subscription renewed without notification or assert your use was minimal.
Provide your account details and transaction information for quicker processing.
Follow up if you don’t receive a response in a timely manner.
Disclaimer
Chargeback is an independent consumer resource that provides educational information to help users understand how to cancel, manage, or request refunds for various subscriptions. We are not affiliated with, endorsed by, or sponsored by any of the companies mentioned on this site. All trademarks, logos, and brand names are the property of their respective owners.
The information we provide is based on publicly available sources and user reports and may contain inaccuracies or become outdated over time. Our guides are intended for general informational purposes only and should not be relied upon as official company instructions or legal advice.
Consumers are solely responsible for reviewing their own contracts, terms of service, and refund or cancellation obligations before taking any action. Nothing on this site should be interpreted as legal, financial, or contractual guidance.
Chargeback does not encourage or condone disputing valid charges, misrepresenting transactions, or taking any action that could violate a company's terms, service agreement, or applicable laws. We promote fair, transparent, and lawful communication between consumers and businesses.
Get help with your refund
"This app saved me $127 in minutes"
Draft email to IC Markets for Refund
Script
Copy
Subject: Refund Request – IC Markets Account [Your Email]
Dear IC Markets Support Team,
I hope this message finds you well.
I am writing to formally request a refund regarding my account. [describe reason]
I would like to request a refund of [Amount].
If applicable, I have attached relevant documentation for your reference.
I kindly ask for your confirmation of this request within 3-5 business days.
Thank you for your attention to this matter.
Sincerely,
[Your Name]
[Your Phone Number]
Common refund statuses
Status
Meaning
What It Means for You
Pending
Your refund request has been received but not yet processed.
You will need to wait for the refund to be reviewed and approved. This usually takes 1-3 business days.
Processing
Your refund is currently being processed by our team.
This stage typically takes another 2-5 business days before completion.
Partially Refunded
A portion of your refund has been completed.
You will receive a partial refund based on the amount processed. Check your account for further details.
Refunded
Your refund has been successfully processed.
The funds will appear in your account shortly, typically within 3-5 business days, depending on your bank or payment method.
Canceled
Your refund request has been canceled.
You may need to contact support for further assistance or to re-initiate a refund request.
Completed
The refund process has been finalized and payment has been fully issued.
You can confirm the completion of the refund in your account balance. If any issues, contact customer support.
Real User Scenarios: When and How Refunds Were Successfully Claimed
IC Markets provides a robust trading platform for forex and CFD traders. Given the nature of its services, users occasionally find themselves needing to address billing or account-related issues. Here are a few realistic scenarios in which users have successfully claimed refunds:
Withdrawal Fee Adjustment: A trader realized they had incurred unexpected withdrawal fees during a fund transfer. After reviewing the fee structure, they contacted IC Markets for clarification. Upon confirming the misunderstanding related to their account, IC Markets promptly issued a refund for the applicable fees.
Subscription Termination Request: A user intended to switch from a premium to a standard account and believed they had completed the necessary steps online. After noticing a charge for the premium service post-request, they reached out to customer support. IC Markets verified the account status and refunded the premium fee swiftly.
Account Currency Change: A trader wanted to change their account currency from USD to AUD but inadvertently missed the timeframe provided for such changes. Noticing an adjustment in fees because of this oversight, they contacted support for assistance. IC Markets reviewed the case and issued a refund for the difference in fees charged during that period.
Inactivity Fee Clarification: A long-time user who had paused trading for a while was surprised to see an inactivity fee deducted from their account. They reached out for clarification and found the fee was applicable due to prolonged inactivity. IC Markets, understanding the user's history and intent to resume trading, granted a refund for the fee upon reviewing the user’s trading activity.
The Easiest Way to Get a IC Markets Refund
If you're frustrated trying to get a refund from IC Markets—or if you didn't even realize you were being charged—Chargeback can help. Chargeback is a personal subscription manager that automatically detects hidden, recurring charges like Netflix, Hulu, and hundreds of others. With one click, we can cancel unwanted subscriptions, flag suspicious billing, and even initiate refund requests on your behalf. No more waiting on hold or navigating confusing help pages. Just connect your bank or card account, and we'll take care of the rest.
How to Track Your Refund Status Efficiently
Tracking your refund status at IC Markets is a straightforward process that can be efficiently managed through various channels provided by the broker. Here are some specific ways to stay updated on your refund:
Email Notifications: IC Markets sends updates about your refund status directly to your registered email address. Keep an eye out for emails that specifically mention refund approvals or any required actions on your part.
Account Dashboard: Log into your IC Markets account and navigate to the Account Dashboard. The dashboard provides real-time updates on your financial transactions, including pending refunds. Look for any entries related to refund processing.
Order History Section: In your account, check the Order History section. This area will show a detailed log of your transactions, including refunds. You can find current statuses such as "Pending" or "Completed" next to the relevant entries.
In-App Notifications: If you use the IC Markets mobile app, make sure to enable notifications. The app will provide alerts regarding your refund status and any important updates directly to your device.
Billing Section Review: For detailed insights, visit the Billing Section of your account. This will outline all financial activities, allowing you to see the current status of your refund alongside any other financial transactions.
Customer Support: If you have questions or concerns about your refund status, reaching out to IC Markets' customer support via live chat or email can provide clarity. They can give you specific information regarding your refund request.
FAQ
If you forgot to cancel your service with IC Markets on time, refunds are typically not available for the unused period. It's important to review the terms and conditions regarding cancellations and refunds, as they outline the specific policies that apply. For personalized assistance, contacting customer support is recommended.
Refund processing times at IC Markets can vary depending on the payment method used. Typically, refunds may take anywhere from 3 to 10 business days to reflect in your account, but this can be influenced by your bank or payment provider's processing times.
If you see a charge but don't have an active subscription, first check your account for any previous transactions that may explain the charge. If you still need assistance, please reach out to IC Markets' customer support with your account details for further clarification and assistance.
If you are unable to receive a refund directly from IC Markets, consider reaching out to their customer service team again for further assistance. You can also explore escalating your inquiry within their support system to ensure it gets the attention it needs. Additionally, reviewing your account details might provide more context or options related to your inquiry.
If IC Markets refuses to issue a refund, consider reviewing their refund policy for further clarity on eligibility criteria. You may also reach out to their support team again to discuss your concerns in more detail. Additionally, check your account details to ensure that all information is accurate and up to date.
Chargeback and the Chargeback trademarks used herein are trademarks or registered trademarks of Chargeback and its affiliates. The use of any other trade name, copyright, or trademark is for identification and reference purposes only and does not imply any association with the copyright or trademark holder of their product or brand. Other product and company names mentioned herein are the property of their respective owners.
¹ Total savings is calculated based on internal annualized estimates of savings for customers. ² Average requests times may vary depending on volume of requests
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