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.
Our goal is for you to understand our fee structure.
Free - Deposit fee
Free - Deposit fee (Bank account - SEPA, SEPA Instant, and UK bank transfers; costs of SEPA deposits are at the moment paid by ICONOMI)
3% - Deposit fee (Cards - Visa and MasterCard)
3,5% + 0,29 EUR - Deposit fee (Skrill)
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 weekly/monthly or quarterly fee charged to users who copy a Strategy in case a Strategy generates profits.
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 the Crypto Strategy.
The majority of Strategies have a Copy fee lower than 2%, though the fees can span from 0-10%.
Some private Crypto Strategies, that users can copy only if invited by the Strategist, might have an additional fee (e.g. entry, exit fee). These fees are visible on the Strategy page a user gets invited to.
0.37% fee is applied when a user rebalances a Strategy and in doing so buys/sells cryptocurrencies (some asset pairs might require more than one trade).
Example of rebalancing: if a user buys or sells 20% of assets in a Strategy, the fee will only apply to that 20% of assets.
0.50% or a minimum of 0.50 EUR fee is applied when a user buys/sells cryptocurrencies (Strategy rebalancing excluded).
A withdrawal fee in the range of 0.50 – 1.50 EUR is charged for Bank account transfers - SEPA, SEPA Instant.
A withdrawal fee in the range of 1.00 – 1.80 GBP is charged for FPS Bank account transfers in the UK (Faster Payment System).
A withdrawal fee of 20 GBP is charged for CHAPS Bank account transfers in the UK (the Clearing House Automated Payment System).
To make it simple and predictable to users we set fixed fees to cover blockchain transactions costs. These fees are updated on a regular basis.
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