IG Markets Minimum Deposit Guide

logomark Luca Puddu calendar Last Updated: November 2021 timer 6 min read
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IG Markets is one of the most popular trading platforms in the world boasting thousands, maybe even millions of members. If you’re not familiar with this broker, don’t worry: you just need to read our IG Markets review to get yourself acquainted with the broker. One of the things you will have to do before you can start trading is to deposit funds. Below is some information to help you understand what options you have when it comes to depositing funds into an IG Markets account.

Table of contents

What’s the IG Markets Accounts Minimum Deposit?

IG Markets offers a wide range of account types, which are suited to all types of traders. Every account type offered by the broker has the same minimum deposit of any other IG Markets account, which is 300 USD or the equivalent in your local currency. For traders located in South Africa, the minimum deposit is R4000.

IG Markets Features
Minimum Deposit 300 USD
Deposit Fees Up to 2.3% (Singapore)
Withdrawal Fees 25 USD
Base Currencies USD, EUR, GBP

Depending on the IG Markets entity, you should respect the maximum deposit rate if you are planning on funding your trading account with large amounts of money. IG Markets currently state that a maximum of $30,000 is allowed to be deposited per day if you are depositing using a credit card. However, if you are funding your trading account using a debit card, then you can deposit up to $99,999 per day. Furthermore, if you are looking to deposit greater amounts of money then it is advisable to do so via bank transfer.

Now that you know the minimum deposit amount, did you know that with IG Markets you can invest in up to 17000 different CFD shares, and that if you are an EU citizen you may be eligible for trading the exclusive IG Markets’ Turbo24 Certificates? Visit the IG Markets website and have a look yourself!

(76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether can afford to take the high risk of losing your money.)

How to deposit funds into your IG Markets account: Steps to follow

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. But 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. 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. After you get approved by IG Markets, you can then proceed to deposit funds into your account, meanwhile respecting the minimum deposit guidelines. 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.

IG Markets Funding Methods

IG Markets offers a number of ways to deposit funds into your trading account. The quickest way to fund your account is by credit or debit card, since deposits via this method are usually deposited immediately. 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. Bank transfer is another popular method of funding your account, but this method can take up to three days depending on your bank. To complete the overview on this deposit method, here’s our PayPal forex brokers top ten.

Deposit methods you can use to fund your IG Markets account

IG Markets Deposit Fees

When depositing money into your trading account you will find that it is mostly free, 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. 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.

IG Markets Deposit per Country

IG Group Area Min Deposit D/W Fees Local clients only
Europe* 300 EUR No No
United Kingdom 250 GBP No Yes
Switzerland 2500 CHF No No
Australia 450 USD up to 1% No
New Zealand 450 USD up to 1% Yes
Singapore 450 USD up to 2,3% No
Japan 35.000 JPY No No
Dubai 300 USD No** No
South Africa 4000 ZAR No No
IG Markets USA 250 USD up to $25 No

* Excluding Switzerland and the United Kingdom

** Professional clients only

IG Markets accepted deposit currencies

With IG Markets you can deposit funds into an account in a number of base currencies, but the major ones are the Euro, British Pound and United States Dollar. 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 for 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.

IG Markets Minimum Deposit vs Other Brokers

IG Markets CMC Markets Forex.com
Minimum Deposit $300* $0 $50
Wire Transfer Yes Yes Yes
Credit Card Yes Yes Yes
PayPal Yes Yes Yes
Number of deposit methods 5 5 4
Account currencies USD, EUR, GBP GBP, EUR, USD, AUD, CAD, NOK, NZD, PLN, SEK, SGD USD, EUR, GBP

* It depends on the IG Group office

IG Markets Minimum Deposit Pros and Cons

Pros

  • IG Markets is available worldwide
  • Their minimum deposit is an attractive offer, especially for what the broker offers
  • You can use PayPal to deposit and withdraw funds
  • You don’t incur fees when depositing funds

Cons

  • IG Markets doesn’t have a large variety of base currencies, so some of you might incur a conversion fee

IG Markets Minimum Deposit FAQ

What’s the maximum/minimum amount I can deposit?

You can deposit a maximum of £30.000 per day if you’re using a credit card and up to £99.999 per day if you’re using a debit card. The minimum amount requested to open an account is £250 or equivalent in different currencies.

How long do IG withdrawals take?

Generally, bank withdrawals should be processed within 24 hours. If you’re funding funds with your cards, the process can take between 2-5 working days


About the Author

Luca Puddu

Broker Expert

Always full of different interests, Luca started to get interested in the field of personal finance in 2014.

His self-taught studies led him year by year to become increasingly interested in the investment field.

To date, Luca actively invests in the stock market and cryptocurrencies, focusing on rising markets and the industries of the future.

His main role at InvestinGoal.com is to analyze and study in the smallest detail the brokers and their platforms, while checking carefully that the information shown by them is genuine.

In this way, he provides readers with a complete and truthful overview of the broker they might be interested in.


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