The online brokerage firm IG Markets requires a capital deposit from the trader owning the brokerage account to activate the CFD and Retail foreign exchange (Forex) trading platform.
The minimum amount required with IG Markets is $250, which can be deposited via various methods, including wire transfer, debit card, credit card and eWallet. It should be noted that the minimum deposit with IG Markets may vary depending on the country of residence of the trader.
IG Markets may charge commissions up to 2,3% on deposits, and may also charge conversion fees if depositing in a currency different from the account base currency.
What is the IG Markets minimum deposit?
The IG Markets minimum deposit varies according to your country of residence and is £250 in the UK, for European traders it is €300 instead, while it rises to $450 in Australia.
The IG Markets minimum deposit features are listed in this table below:
| IG MARKETS DEPOSIT FEATURES | CHARACTERISTICS |
|---|---|
| IG Markets trading accounts | $250 minimum deposit |
| Deposit fees | Up to 2.3% |
| Withdrawal fees | Up to $25 |
| Base currencies | USD, EUR, GBP |
Now that you learnt that the type of trading account does not affect the minimum deposit, you can find out which IG Markets account type best matches your goal.
(70% of retail investor accounts lose money).
IG Markets minimum deposit per country
Your country of residence affects the IG Markets minimum deposit as shown on the table below:
| IG Group Area | Min Deposit | D/W Fees |
|---|---|---|
| Europe | 300 EUR | No |
| United Kingdom | 250 GBP | No |
| Switzerland | 2500 CHF | No |
| Australia | 450 USD | up to 1% |
| New Zealand | 450 USD | up to 1% |
| Singapore | 450 USD | up to 2,3% |
| Japan | 35.000 JPY | No |
| Dubai | 300 USD | No |
| South Africa | 4000 ZAR | No |
| USA | 250 USD | up to $25 |
What are the IG Markets account base currencies?
The IG Markets account base currencies include USD, EUR, GBP.
However, depending on the IG Markets entity, there may be other base currencies available.
It must be stated that if you deposit in a currency that is different from your base currency you will incur a conversion fee. For instance, if you deposited Australian Dollars into a United Kingdom account, you will be charged a fee to convert the Australian Dollars into British Pounds.
What are the IG Markets funding and deposit methods?
The IG Markets deposit methods features and fees are listed below.
- Wire Transfer: Bank transfer is another popular method of funding your account, but this method can take up to three days depending on your bank.
- Credit/Debit Cards: The quickest way to fund your account is by credit or debit card, since deposits via this method are usually deposited immediately.
- eWallets: Another deposit method is to use PayPal where you enter the amount you would like to deposit and then click “confirm”. Upon doing this you will be redirected to another page where you will click on the “PayPal” button where you will be redirected to the PayPal website to complete the transaction.
To complete the overview on this deposit method, here’s our PayPal forex brokers top ten.
IG Markets deposit fees
IG Markets does not charge commissions on deposit, however there are a few exceptions.
One exception is when you deposit money that isn’t supported by your trading account, in which case you will experience a conversion fee such as 2.3% for depositing in Singapore Dollars, 1% for depositing in New Zealand Dollars and 1% again for depositing in Australian Dollars.
You can deposit in a number of base currencies such as Euro, British Pound and United States Dollar.
IG Markets withdrawals
Once you have deposited money into your IG Markets trading account, you can withdraw your money at any time.
To withdraw your funds, you must log into your IG account and go to the live accounts tab and select withdraw funds. You are able to withdraw your funds as a bank transfer, or back to your card or PayPal account.
The maximum you can withdraw will vary between methods. For instance, you can withdraw a maximum of £20,000 per day via a card, or up to £5,500 per transaction with PayPal, and there is no limit with bank transfers.
How long do IG withdrawals take?
The withdrawal time will depend on where you are withdrawing to, as outlined in the lsit below:
- Withdrawals back to a card will typically take between two to five bank working days to clear.
- However, withdrawals back to PayPal will normally be instant, or at the very least they should clear within 24 hours.
- Although withdrawals via bank transfer should reach your account on the same day but only if a request is made before 12pm (UK time) on a bank working day, but sometimes it can take up to three days to clear.
What are the steps to fund your IG Markets account?
1. Create a IG Markets account:
The first thing you need to do in order to deposit funds into your IG Markets account is to open up a live account, which will also give you access to the demo account.
2. Login into the IG Markets client area:
It is advisable to use the demo account first if you are a beginner. But if you have been trading for a long time and you have come to IG Markets for a change of scenery then you can go right ahead and deposit funds into your account.
3. Verify the IG Markets account:
Once you have applied for your account by going through the account setup process, where they require standard information such as name, address, DOB, email.
4. Fund your IG Markets account:
After you get approved by IG Markets, you can then proceed to deposit funds into your account, meanwhile respecting the minimum deposit guidelines.
5. Wait for the IG Markets approval:
Once you have deposited your funds into your trading account you will need to wait for confirmation from IG Markets to let you know whether your deposit was successful or not. If it wasn’t successful, IG Markets’ customer support will be able to guide you to rectify whatever problems you may face.
How does the IG Markets minimum deposit compare with other major brokers?
The comparison between IG Markets’ minimum deposit and those of other brokers can be found in this table below:
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
| FEATURES | IG MARKETS | CMC MARKETS | FOREX.COM |
|---|---|---|---|
| Minimum deposit | $250* | $0 | $100 |
| Wire transfer | Yes | Yes | Yes |
| Credit card | Yes | Yes | Yes |
| PayPal | Yes | Yes | No |
| Number of deposit methods | 5 | 6 | 8 |
| Base Currencies | USD, EUR, GBP | GBP, EUR, USD, AUD, CAD, NOK, NZD, PLN, SEK, SGD | EUR, GBP, USD |
* It depends on the IG Group office
Does IG Markets offer deposit bonuses?
IG Markets doesn’t offer deposit bonuses at the moment.