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) here.
There are no fees (0%) for buying or selling a cryptocurrency. We charge a 0.75% spread on most conversions.
Some fees apply when copying a Crypto Strategy. These are the performance fee, copying fee and sell/exit cost.
Deposit fee - Free
Deposit fee (Bank account - SEPA and SEPA Instant) - Free*
* SEPA deposits are not actually free, but at the moment this cost is payed 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
Performance - Range from 0 – 30%
Charged to users who copy Crypto Strategies.
The fee is collected only when copiers make a profit.
Copy - Range from 0 – 10%
A yearly fee that is charged in small proportions daily (yearly fee/365) to users who are copying the Crypto Strategy.
On-boarding - Range from 0 – 6%
This fee covers the Strategist’s costs for the education and expertise they provide, but not all Strategies have it.
On-boarding fee applies per transaction.
Sell / Exit - Fixed 0.5%
The sell/exit fee gets returned to the Crypto Strategy to cover the trading costs of entering and exiting copiers.
This fee is charged per transaction.
Platform fees for managing your Strategy
Rebalance - Fixed 0.37%
Trading fee for adjusting/changing the Crypto Strategy structure.
The Rebalance fee is charged based on the assets that get traded. If 20% of the Strategy is rebalanced, the Rebalance fee will apply only to that 20%.
Buy/Sell - Free
Spread - Range from 0,75 – 1,5%
An exact quote is provided at the time of conversion. Spread is NOT charged for Strategy rebalance.
Withdrawal fee (Bank account - SEPA and SEPA Instant) - 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
Creating an account with ICONOMI is free and most of the deposits are also free. However, like all Crypto Copy trading platforms, ICONOMI charges various spreads and fees for some trades and withdrawals. To learn more, please refer to our helpdesk article on fees here.