Broker deposit won't work

Hello everyone

After a long time I have another question! I’ve been studying and learning FX trading for about 7 months now, from the end of October.

I wanted to join the broker ICMarkets this week. I wanted to deposit an amount of € 500 via my MAESTRO debit card. But this is not possible! ICMarkets only accepts Visa or Master card. So I asked my mom if she might want to deposit the money through her visa card and I would return it, but she wouldn’t do this. She also said to me that you can only get a visa card if you have several tens of thousands of euros in your account, which I absolutely do not have yet!

Why can’t I just deposit the money using my own Maestro debit card? Not everyone has tens of thousands of euros in his or her account? What if someone wants to start trading with a few hundred euros like me, but simply doesn’t have a Visa / Master card?

Research properly before choosing a broker for you.

I did. I’m from Belgium and a lot of brokers wont even accept Belgian clients, IC does. So I really wanted to join them. I did my resaerch but I didn’t check what their deposit options were.

Think it might be the card you are using

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Hi Jarne,
I sympathise and thankfully, the UK has left the EU but we will all suffer from what our governments consider to be protecting us from our own stupidity (Nanny State), and Belgium does seem to be a nation that has particularly difficult terms for brokers to adhere to.

This may be a long shot, but are you sure you landed on the right IC Markets page? When I did a search from the UK I was directed to the EU site at this link:

I did not attempt to open a demo account at this stage, but was it at the stage of asking to open a demo account you were rejected, or did you just try to open a live account straight away.

I would not be put off by this. You may simply call your bank (if they have any real people to speak to anymore instead of chatbots and automated telephony helpless desks) and just tell them you wish to open an IC Markets account and can they provide you with a Visa or Mastercard debit card? My son is with RBS and may suffer the same issue in the UK. He has no wish to open a Forex broker account but sometimes there are restrictions on what he can use the Maestro card for.

Best of luck, and stick at it. These barriers are there to test our initiative and perseverence, and you will need those traits in bucketsful to be a successful Forex trader. :grimacing:

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Just arrange a bank wire transfer. It’s that easy.

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Thank you for the effort of this kindful and helpul answer!!

Oke, I will take a look, thanks!

Hi Jarne, did it work? I have the same problem here, from the Netherlands. Also want to use ICM. Did it work using bank wire with Maestro?

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Didn’t do it yet. :confused: