IG Markets Minimum Deposit
The IG Markets minimum deposit is $250 for its CFD trading accounts, the only one available to all non-US traders unless depositing via bank wires, where no IG Markets minimum deposit applies. Read more on IG in our in-depth IG Markets Broker Review.
The IG Markets minimum deposit requirements are:
- $250 for credit/debit cards and PayPal deposits
- $0 for bank wires
The IG Markets Minimum Deposit Overview
MinimumDeposit | IG Markets | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
Commission-Free | Not applicable | $0 | $1 | $100 | $100 |
Commission-Based | $0 - $250 | $0 | $1 | $100 | $100 |
The IG Markets CFD account is available to all international traders. It offers competitively priced commission-free Forex trading, while equity CFDs have industry-average commissions with rebates available for high-volume traders. Traders may deposit in any currency, but IG Markets converts non-supported account base currencies to the relevant base currency (to be used as trading deposit) for a conversion fee of 0.50%. Supported account base currencies are USD, GBP, AUD, EUR, SGD, and HKD, which traders can manage from their IG dashboard.
IG Markets Minimum Deposit - Pros & Cons
Pros of the IG Markets minimum deposit | Cons of the IG Markets minimum deposit |
|---|---|
Trusted broker with a clean operational record spanning almost 50 years | 0.50% currency conversion fee |
Segregation of client deposits with tier-1 banks | Limited deposit methods and no cryptocurrencies |
All currencies are accepted but converted to supported account base currencies for trading margin | |
No internal deposit fees, but traders may face third-party costs |
The IG Markets minimum deposit is $250, or a currency equivalent unless traders use bank wire, where no minimum applies. Traders should consider that effective portfolio management and the effort necessary to generate sustainable profits require far more capital than the $250 IG Markets minimum deposit. Until traders have sufficient funds to achieve their annual targets within an acceptable risk profile, they should consider a deposit strategy consisting of follow-on deposits to assist organic portfolio growth.
How to Make a Deposit with IG Markets
Traders will conduct all financial transactions from the secure and user-friendly IG dashboard, which features a similar structure to most online banking systems. Opening an account grants access to the IG dashboard. Before making the IG Markets minimum deposit, traders must verify their trading account, to comply with regulatory AML/KYC (Anti Money Laundering / Know your client) rules. Most traders will pass the verification needed after uploading a copy of a government-issued ID and one proof of residency document.
IG Markets offers the following deposit options; bank wires, credit/debit cards, PayPal, and localized payment methods associated with regional banks. The availability of deposit methods depends on the geographic location of traders, as only bank-related options are available to most. Traders may add up to five credit/debit cards but only one PayPal account if available. Processing times are instant for credit/debit cards, while bank wires may take up to three working days unless traders upload a proof of payment document.
IG Markets Deposit Fees and Deposit Methods
IG Markets does not levy internal deposit fees, but a 0.50% currency conversion fee exists where necessary. Traders may deposit in any currency, but account base currencies for trading purposes are the USD, GBP, AUD, EUR, SGD, and HKD. Therefore, if a trader makes a $1,000 deposit into a US Dollar base account, they will receive $1,000. Making a CHF1,000 deposit into a Euro base account will face an exchange rate conversion plus a 0.50% fee, therefore will receive less than the equivalent of CHF1,000 in Euros. Potential third-party processing costs may also apply, which IG Markets do not control.
Bank wires have the slowest processing times and usually face intermediary charges, but they are available to all clients alongside credit/debit cards. IG Markets offers PayPal as the only e-wallet, which is restricted, and localized bank-related methods exist.
IG Markets deposit methods, processing times, and limitations:
Deposit Method | Processing Time | Deposit Currencies | Minimum Single Deposit | Maximum Single Deposit | WithdrawalOption |
|---|---|---|---|---|---|
Bank wires | Up to three days | All fiat currencies | $0 | Unlimited | Yes |
Credit/debit | Instant | All fiat currencies | $250 | $30,000 /$99,999 | Yes |
PayPal | Instant | USD, EUR | $250 | $25,000 | Yes |
Noteworthy:
- The IG dashboard lists all available payment methods, as PayPal can be restricted according to the geographic location of traders
- IG Markets credits bank wire instantly after reviewing an uploaded proof of payment document, but the actual transfer may require up to three business days, standard settlement times for cross boarder payments in currency.
Traders should select the most suitable option, but the choices can be limited to bank-related transactions. Withdrawals must follow the same path as the deposit. Therefore, traders should carefully consider third-party processing fees and potential costs for making frequent follow-on transactions, like paying bills or general consumption, if they plan to use withdrawals for anything other than keeping cash in their trading accounts for this purpose alone.
IG Markets Deposit Methods vs. Similar Brokers
DepositMethods | IG Markets | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
Bank wires | Yes | Yes | Yes | Yes | Yes |
Credit/debitcards | Yes | Yes | Yes | Yes | Yes |
Skrill | No | Yes | Yes | Yes | Yes |
WebMoney | No | No | Yes | Yes | No |
ChinaUnionPay | No | Yes | No | Yes | No |
PerfectMoney | No | No | Yes | No | No |
Othere-wallets | Yes | Yes | Yes | Yes | Yes |
LocalizedMethods | Yes | Yes | Yes | No | No |
Crypto-currencies | No | Yes | Yes | No | No |
IG Markets Deposit Currencies
Traders should know the difference between account ‘base’ and ‘deposit currencies,’ to avoid confusion. The former is the base currency of a trading account (IG Markets offers the USD, GBP, AUD, EUR, SGD, and HKD). The latter are currencies available for deposits through payment processors (IG Markets supports all global currencies but converts non-supported currencies). A 0.50% currency conversion fee applies over the market spreads.
IG Markets supports the following account base currencies:
- US Dollar
- British Pound
- Australian Dollar
- Euro
- Singapore Dollar
- Hong Kong Dollar
IG Markets supports the following deposit currencies:
- IG Markets accepts all fiat currencies as deposit currencies and converts them to the chosen account ‘base currency’ for a 0.50% currency conversion fee
Most Forex traders prefer the US Dollar as their account base currency. It can help lower potential currency conversion fees and increase overall profitability since the US Dollar is part of 80% of daily Forex trading volumes, either as a quote or base currency. A multi-currency account, available online or via a bank, is another option to decrease currency conversion costs, lower transaction fees, and receive more competitive exchange rates. It is ideal for traders who must transact in multiple currencies.
IG Markets trading account currencies vs. similar brokers
AccountCurrencies | IG Markets | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
US Dollar | Yes | Yes | Yes | Yes | Yes |
Euro | Yes | Yes | Yes | Yes | Yes |
British Pound | Yes | Yes | No | Yes | Yes |
Swiss Franc | No | Yes | No | No | Yes |
AustralianDollar | Yes | Yes | No | No | No |
Others | Yes | Yes | Yes | No | Yes |
Total | 6 | 10 | 3 | 3 | 10 |
Steps for Sending the IG Markets Minimum Deposit
The IG Markets deposit process is simple. The first step is to verify the trading account, ideally during the account registration process, in compliance with AML/KYC requirements mandated by regulators. Most traders will satisfy this step by sending a copy of a government-issued ID and one proof of residency document.
Here is a step-by-step guide to sending your IG Markets minimum deposit:
1. The IG Markets dashboard manages all recorded financial transactions. Traders must register for an account by completing a six-step online registration form. Regrettably, IG Markets collects unnecessary information, but traders may decline to answer optional questions, as they may not be needed for verification. IG Markets will send a verification and confirmation e-mail during the process.
2. Account verification is mandatory. Only verified clients can conduct financial transactions. Most traders get verified after uploading a copy of a government-issued ID and one proof of residency document.
3. Verified traders can log into their IG dashboard, which lists all accounts. Clicking on the blue “+Add funds” button, located next to each trading account, opens the deposit interface. Traders will see all available payment processors, potentially restricted by geographic location (the web-based trading platform features the same function from within the trading platform). MT4 traders should navigate to “Live accounts” located next to “Dashboard” and click “Deposit funds” to make their IG Markets minimum deposit.
4. Traders must choose their IG Markets trading account if they have multiple ones, their desired payment processor, and their preferred deposit amount. PayPal will redirect to their page, require a login, and deposit confirmation (it will redirect to IG following a successful transaction. Traders have the option to upload proof of payment document if they used a bank wire, to get faster access to their capital while the wire is pending.
5. Internal deposit times are instant for credit/debit cards but can take up to three business days for bank wires unless clients upload a proof of payment document. Traders will receive a notification once the deposit to the trading account is credited and available to use. The payment processor also sends a message and keeps the transaction in the payment history.
IG Markets Minimum Deposit Bottom Line
The IG Markets minimum deposit is $250 for credit/debit card deposits and PayPal, but no minimums apply for bank wires. IG Markets offers a unique feature allowing traders to upload a proof of payment document. It grants traders access to their capital immediately after a brief review, while the actual bank wire can take several business days. IG Markets accepts all fiat currencies but converts non-supported account base currencies for a currency conversion fee of 0.50%. Supported account base currencies are the USD, GBP, AUD, EUR, SGD, and HKD.
Bank wires and credit/debit card deposits are available to all clients. Select jurisdictions offer localized options, while some offer PayPal. IG Markets does not levy internal deposit fees besides currency conversion costs if applicable, but third-party charges may apply. Deposit processing times range from instant to three business days. While IG Markets does not offer many deposit methods, it is one of the most trusted and secure brokers around, meaning traders can trust the deposit process. IG Markets offers bank wires, credit/debit cards, localized methods related to banks, and PayPal. The latter two are geographically restricted. The IG Markets minimum deposit is $250 for credit/debit card deposits and PayPal, but no minimum applies for bank wires. IG Markets has promotions on select occasions for qualifying traders but did not offer any during our review.FAQs
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