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.
Below is some information to help you understand what options you have when it comes to depositing funds into an IG Markets account.
|IG Markets trading accounts
|Up to 2.3%
|Up to $25
|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.
Visit IG Markets (69% of retail investor accounts lose money).
IG Markets minimum deposit per country
Your country of residence affects the IG Markets minimum deposit as follows:
|IG Group Area
|up to 1%
|up to 1%
|up to 2,3%
|up to $25
IG Markets account base currency
With IG Markets you can deposit funds into an account in a number of base currencies, including:
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.
IG Markets deposit methods and fees
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.
To complete the overview on this deposit method, here’s our PayPal forex brokers top ten.
- Bank transfer is another popular method of funding your account, but this method can take up to three days depending on your bank.
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.
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
- 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 minimum deposit vs other brokers
|Number of deposit methods
|USD, EUR, GBP
|GBP, EUR, USD, AUD, CAD, NOK, NZD, PLN, SEK, SGD
|EUR, GBP, USD
* It depends on the IG Group office
IG Markets minimum deposit pros and cons
- 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
- IG Markets doesn’t have a large variety of base currencies, so some of you might incur a conversion fee
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