ICONOMI fees and how would we describe them to a four-year old
Opening your ICONOMI account will always be free of charge.
Fiat and cryptocurrencies deposits are free. Yes, no fees here.
You can check the rest of the fees (Cards, Skrill) below.
You can set up a public Crypto Strategy for free, without upfront costs or fees.
By having your own Crypto Strategy, you do not pay the Performance fee.
Deposit fee - Free
Deposit fee (Bank account - SEPA, SEPA Instant, and UK bank transfers) - Free*
* SEPA deposits are not actually free, but at the moment this cost is paid by ICONOMI.
Deposit fee (Cards - Visa and MasterCard) - 3%
Deposit fee (Skrill) - 3,5% + 0,29 EUR
Crypto Strategy fees set by each Strategist for copying a Strategy
The fees of each Strategy are visible on a Strategy page once you login to the platform.
A fee is charged to users who copy a Strategy in case a Strategy generates profits (weekly or monthly or quarterly). The majority of Strategies have a performance fee lower than 6%, though the fee can span from 0-30%. This fee is subject to a “high-watermark” rule, so users only pay it once.
A yearly fee that is charged in small proportions daily (yearly fee/365) to users who are copying a Crypto Strategy. The majority of Strategies have a Copy fee lower than 2%, though the fee can span from 0-10%.
Platform fees for managing your Strategy
A trading fee of 0.37% is applied to all crypto trades within ICONOMI (some asset pairs might require more than one trade)
This also applies when a Crypto Strategy is rebalanced.
This percentage only applies to the assets that actually get traded. For instance, if 20% of a Crypto Strategy is rebalanced, the trading fee will only apply to that 20%.
Buy/Sell - 0.37% per trade (some asset pairs might require more than one trade)
Withdrawal fee (Bank account - SEPA, SEPA Instant, and UK bank transfers) - Range from 0.5 – 1.5 EUR
Withdraw fee Bitcoin (BTC) - 0.0005 BTC
Withdrawal fee Ether (ETH) - 0.005 ETH
Withdrawal fee USD Coin (USDC) - 10 USDC
Withdrawal fee Tether (USDT) - 10 USDT