IG deposit withdrawal methods

IG Markets payment methods: All IG Markets deposit and withdrawal processes at a glance:

IG Markets or now just IG is a service offered by London-based IG Group Holding, which was founded back in 1974. This makes the Forex and CFD broker one of the “longest serving” providers in this field and has had ample time to optimise its services over more than four decades. In addition to the wide range of trading offers, traders appreciate IG’s customer-friendliness. This is also noticeable in the payment methods. Users can deposit and withdraw funds from IG Markets free of charge and through a variety of channels, with fast processing and value dating. To find out how to deposit or withdraw money with IG Markets, see our guide.

  • Regulation by FCA and BaFin
  • No minimum deposit
  • We do not charge a fee for deposits and withdrawals
  • Payments by bank transfer, credit card, PayPal

Customer-friendly payment methods: What traders should look for

When selecting a broker, whether for entry or for a change of provider, the focus of attention is not necessarily on the payment methods offered. The trading offer, commissions or spreads and the trading platform often seem more important. The options offered for the capitalization of the trading account are equally important. Long processing times, high fees especially for withdrawals and hidden costs reduce the trader’s profit. If the minimum deposit is too high, small investors in particular find it difficult to access trading, and high minimum withdrawals block the capital in the trading account. Security and encryption technology, especially when transferring credit card data, are also important.

While the early online brokers usually only allowed payments by bank transfer and credit card, other options have now become part of everyday life. Transactions via portals such as Sofort and Trustly or popular eWallets such as Neteller and Skrill are almost standard with many providers.

  • Electronic payment solutions are becoming standard
  • Cash out is usually paid out via the deposit method
  • Third parties cannot capitalize the trading account
  • Only private accounts are acceptable as reference accounts

The extent to which a broker accommodates his traders varies from provider to provider. Truly client-focused Forex and CFD brokers typically provide their clients with a sufficient choice of options that allow for fast and inexpensive transactions. Restrictions are mainly found on the part of the legislator.

CREDIT CARD PAYMENT REMAINS POPULAR
Credit or debit cards are still popular with most traders to make payments to their trading account. Most brokers accept Mastercard and Visa, debit cards can also be used. The advantage of card payments is the extremely fast availability of the transferred amounts. This allows traders to follow a promising trend immediately after payment has been made. When entering the credit card data, it is only necessary to note that the broker secures the transmission of data by SSL encryption and does not store any customer data.

However, some providers insist that customers who wish to pay by credit card upload a good colour scan of the front and back of the card, and it is not always possible to make some digits of the card number unrecognisable. Traders must also make sure that the card used for deposits remains valid when withdrawals are to be made – otherwise there may be considerable delays in processing.

BANK TRANSFERS HAVE BECOME FASTER
Not every customer wants to use a credit card – or even owns one. That’s why traders use the classic bank transfer almost as much as card payment. While bank transfers were a lengthy process before the SEPA area was established, they are now executed within the Single Euro Payment Area in just one working day. However, the availability of the funds paid is also tied to the processing times of the broker. Therefore, two to five days must be taken into account until the funds are available on the trading account.

Those who capitalise the real money account via online banking usually pay no fees for this. The bank only charges fees if a voucher is presented at the bank counter or for transfers ordered by telephone. Fees are also incurred when international transfers are made, and the customer is also charged for currency conversion.

CONVENIENT ONLINE PAYMENT WITH PAYPAL AND CO.
In addition to home banking, electronic payment solutions are emerging as a convenient option, especially via mobile devices. The first payment provider of this kind was PayPal, developed for transactions between merchant and buyer on the eBay platform. In the meantime, dozens of other providers, some of which are only available regionally, have established themselves. The best known of these are also popular with German traders and are therefore often among the available payment methods at Forex and CFD brokers. In addition to eWallets such as PayPal, Neteller and Skrill, there are platforms that make immediate payments possible based on bank transfer, such as the Scandinavian financial service providers SOFORT (Klarna) and Trustly. In many cases, these services provide protection for both merchant and buyer. Payment is often immediate and the costs are low with most providers.

Thanks to fast credit, traders increasingly prefer online payment methods to credit cards, which are subject to an annual fee at the banks anyway. The maximum payable amounts are also large enough for some electronic payment solutions.

Deposit = withdrawal: Mostly via the same way

If you study the available options, you will see that the fees are not evenly distributed among the providers, but often only apply to deposits or only to withdrawals via a specific channel. It would be obvious to combine two different payment methods to get away as cheaply as possible, but this is usually not possible. Once you have decided on a payment method for your deposit, you will need to use this method for your subsequent withdrawal. Flexibility in this area is extremely rare among Forex and CFD brokers.

Traders can only pay as private individuals – in their own name

The legislator provides for further restrictions on transactions. For example, it is not possible to make payments via third parties – even if only by using the spouse’s credit card. No Broker makes an exception to this, so even with IG Markets, deposits and withdrawals can only be made through an account set up for the same holder as the trading account with the Broker. The requirements are part of the measures aimed specifically at combating money laundering and are binding on brokers. Even providers that do not have their head office in Europe only accept payments through the trading account holder. Similarly, the reference account must be a private account, because payments via business accounts are unacceptable.

In some cases, certain nationalities are excluded from the services of a broker. This applies to US residents of IG Markets who cannot open a trading account with the broker.

IG Markets Deposit: Credit Card, Wire Transfer, PayPal

IG makes it easy for traders to set up an account – customers can use a 14-day demo account or set up a live account. The broker differentiates between accounts for CFD trading and options trading, which can be opened in parallel. The setup only takes a few minutes, verification is necessary. If the trading account is activated, no IG minimum deposit is required. However, funds must be available in the account as soon as trading activity begins.

There are only three payment methods available for clients who wish to deposit and withdraw funds from IG Markets: credit card, bank transfer and PayPal. Accepted account currencies include EUR, USD, CHF, GBP, PLN and HUF. In individual cases, other currencies are also accepted, but this requires consultation with the broker’s support team.

  • Payment by Visa and Mastercard
  • Free bank transfer
  • PayPal
  • Account currencies: EUR, USD, CHF, GBP, PLN, HOOF

We used to charge a fee of 1,5 % of the amount transferred for processing credit card payments. Now, card payments, as well as bank transfers and payments via PayPal, are free of charge for the broker.

HOW PAYMENTS ARE INITIATED AT IG MARKETS
As usual with online brokers, the customer first logs into his personal interface with the broker. In the IG Dashboard of the web platform the option “deposits” can then be selected and the payment can be made.

For bank wire transfers, traders must provide their own name and IG account number when making the transfer, with IG as the beneficiary. Payments must be made from the bank account of the IG Markets account holder.
For credit card payments there is a green “Deposit” tab in the top left corner of the trading platform. Here the user can select a registered credit card and enter the desired amount. The name of the cardholder should be written out with umlauts. The credit card must also be in the name of the IG account holder.
For payments via PayPal this option must be selected.
Depending on the desired payment method, an additional confirmation may be required after redirection to a page of the payment service provider, for example with the credit card provider, or by entering the email and password at PayPal.

THE AVAILABILITY OF FUNDS AT IG
Of course, most traders attach great importance to being able to use amounts once transferred as quickly as possible. However, the value date does not only depend on the payment service provider, but also on the processing by the broker. With IG, users have the advantage that transactions made by credit card or PayPal are credited immediately. If you choose to pay by bank transfer, you should allow between one and three working days for the money to be credited to your trading account.

Another issue is the limits for payments. The broker does not charge a minimum deposit, but a certain minimum volume on the trading account is reasonable. There are also differences between payment service providers in terms of minimum and maximum amounts.

  • Bank transfer: no upper and lower limit
  • Credit card payment: min. 10 Euro, max. 10.000 Euro
  • PayPal: min. 1 Euro, max. 2.500 Euro

With PayPal there is a send and debit limit for new customers, which is mainly for security reasons. The limit remains as long as the own bank account is not confirmed. If the bank account is verified, the maximum limit can be adjusted, but in individual cases PayPal reserves the right to check higher payments.

What advantages does PayPal offer?

More than 150 million account holders now use the PayPal platform to make payments. The advantage of the payment service provider: customer data is not transmitted to the merchant, but is kept by PayPal. The service can be used in two different ways. Either the PayPal account is capitalised beforehand, by bank transfer or credit card payment, or the payment order via PayPal is covered by a reference account.

  • Provider with bank license
  • Customer protection and reimbursement
  • Fast execution
  • No disclosure of customer data

The service allows secure and fast execution of payments, which has even been approved by TÜV as a reliable payment method. Users do not have to accept any time delays, account management is free for private customers, and PayPal can even be used from a mobile phone.

The service can score points especially through the buyer protection. If a purchased item does not correspond to the tender or is not delivered, PayPal refunds both the purchase price and the delivery costs. The same applies if unauthorised third parties gain access to the PayPal account. All in all, PayPal convinces through high security and easy handling and is subject to the corresponding legal requirements for financial service providers due to the provider’s banking licence. For example, customer deposits are kept in separate accounts, separate from the company’s capital, and are safe from the claims of possible creditors even in the event of the provider’s insolvency.

IG Markets payment methods: An overview of all IG Markets deposit and withdrawal processes:

IG Markets, or now just IG, is a service provided by London-based IG Group Holding, which was established in 1974. This makes the Forex and CFD broker one of the “longest serving” providers in this field and has had ample time to optimise its services over more than four decades. In addition to the wide range of trading offers, traders appreciate IG’s customer-friendliness. This is also noticeable in the payment methods. Users can deposit and withdraw funds from IG Markets free of charge and through a variety of channels, with fast processing and value dating. To find out how to deposit or withdraw money with IG Markets, see our guide.

  • Regulation by FCA and BaFin
  • No minimum deposit
  • We do not charge a fee for deposits and withdrawals
  • Payments by bank transfer, credit card, PayPal
  • Table of contents

Customer-friendly payment methods: What traders should look for

When selecting a broker, whether for entry or for a change of provider, the focus of attention is not necessarily on the payment methods offered. The trading offer, commissions or spreads and the trading platform often seem more important. The options offered for the capitalization of the trading account are equally important. Long processing times, high fees especially for withdrawals and hidden costs reduce the trader’s profit. If the minimum deposit is too high, small investors in particular find it difficult to access trading, and high minimum withdrawals block the capital in the trading account. Security and encryption technology, especially when transferring credit card data, are also important.

While the early online brokers usually only allowed payments by bank transfer and credit card, other options have now become part of everyday life. Transactions via portals such as Sofort and Trustly or popular eWallets such as Neteller and Skrill are almost standard with many providers.

  • Electronic payment solutions are becoming standard
  • Cash out is usually paid out via the deposit method
  • Third parties cannot capitalize the trading account
  • Only private accounts are acceptable as reference accounts

The extent to which a broker accommodates his traders varies from provider to provider. Truly client-focused Forex and CFD brokers typically provide their clients with a sufficient choice of options that allow for fast and inexpensive transactions. Restrictions are mainly found on the part of the legislator.

IG Markets Deposit Withdrawal Overview

CREDIT CARD PAYMENT REMAINS POPULAR
Credit or debit cards are still popular with most traders to make payments to their trading account. Most brokers accept Mastercard and Visa, debit cards can also be used. The advantage of card payments is the extremely fast availability of the transferred amounts. This allows traders to follow a promising trend immediately after payment has been made. When entering the credit card data, it is only necessary to note that the broker secures the transmission of data by SSL encryption and does not store any customer data.

However, some providers insist that customers who wish to pay by credit card upload a good colour scan of the front and back of the card, and it is not always possible to make some digits of the card number unrecognisable. Traders must also make sure that the card used for deposits remains valid when withdrawals are to be made – otherwise there may be considerable delays in processing.

BANK TRANSFERS HAVE BECOME FASTER
Not every customer wants to use a credit card – or even owns one. That’s why traders use the classic bank transfer almost as much as card payment. While bank transfers were a lengthy process before the SEPA area was established, they are now executed within the Single Euro Payment Area in just one working day. However, the availability of the funds paid is also tied to the processing times of the broker. Therefore, two to five days must be taken into account until the funds are available on the trading account.

Those who capitalise the real money account via online banking usually pay no fees for this. The bank only charges fees if a voucher is presented at the bank counter or for transfers ordered by telephone. Fees are also incurred when international transfers are made, and the customer is also charged for currency conversion.

CONVENIENT ONLINE PAYMENT WITH PAYPAL AND CO.
In addition to home banking, electronic payment solutions are emerging as a convenient option, especially via mobile devices. The first payment provider of this kind was PayPal, developed for transactions between merchant and buyer on the eBay platform. In the meantime, dozens of other providers, some of which are only available regionally, have established themselves. The best known of these are also popular with German traders and are therefore often among the available payment methods at Forex and CFD brokers. In addition to eWallets such as PayPal, Neteller and Skrill, there are platforms that make immediate payments possible based on bank transfer, such as the Scandinavian financial service providers SOFORT (Klarna) and Trustly. In many cases, these services provide protection for both merchant and buyer. Payment is often immediate and the costs are low with most providers.

Thanks to fast crediting, traders increasingly prefer online payment methods to credit cards, which are subject to an annual fee at the banks anyway. The maximum payable amounts are also large enough for some electronic payment solutions.

Deposit = withdrawal: Mostly via the same way
If you study the available options, you will see that the fees are not evenly distributed among the providers, but often only apply to deposits or only to withdrawals via a specific channel. It would be obvious to combine two different payment methods to get away as cheaply as possible, but this is usually not possible. Once you have decided on a payment method for your deposit, you will need to use this method for your subsequent withdrawal. Flexibility in this area is extremely rare among Forex and CFD brokers.

IG Markets Reference Account
Traders can only pay as private individuals – in their own name
The legislator provides for further restrictions on transactions. For example, it is not possible to make payments via third parties – even if only by using the spouse’s credit card. No Broker makes an exception to this, so even with IG Markets, deposits and withdrawals can only be made through an account set up for the same holder as the trading account with the Broker. The requirements are part of the measures aimed specifically at combating money laundering and are binding on brokers. Even providers that do not have their head office in Europe only accept payments through the trading account holder. Similarly, the reference account must be a private account, because payments via business accounts are unacceptable.

In some cases, certain nationalities are excluded from the services of a broker. This applies to US residents of IG Markets who cannot open a trading account with the broker.

IG Markets Deposit: Credit Card, Wire Transfer, PayPal
IG makes it easy for traders to set up an account – customers can use a 14-day demo account or set up a live account. The broker differentiates between accounts for CFD trading and options trading, which can be opened in parallel. The setup only takes a few minutes, verification is necessary. If the trading account is activated, no IG minimum deposit is required. However, funds must be available in the account as soon as trading activity begins.

There are only three payment methods available for clients who wish to deposit and withdraw funds from IG Markets: credit card, bank transfer and PayPal. Accepted account currencies include EUR, USD, CHF, GBP, PLN and HUF. In individual cases, other currencies are also accepted, but this requires consultation with the broker’s support team.

  • Payment by Visa and Mastercard
  • Free bank transfer
  • PayPal
  • Account currencies: EUR, USD, CHF, GBP, PLN, HOOF
  • We used to charge a fee of 1,5 % of the amount transferred for processing credit card payments. Now, card payments, as well as bank transfers and payments via PayPal, are free of charge for the broker.

HOW PAYMENTS ARE INITIATED AT IG MARKETS
As usual with online brokers, the customer first logs into his personal interface with the broker. In the IG Dashboard of the web platform the option “deposits” can then be selected and the payment can be made.

For bank transfers, traders must enter their own name and IG account number in the reason for payment, with IG as the recipient. Payments must be made from the bank account of the IG Markets account holder.
For credit card payments there is a green “Deposit” tab in the top left corner of the trading platform. Here the user can select a registered credit card and enter the desired amount. The name of the cardholder should be written out with umlauts. The credit card must also be in the name of the IG account holder.
For payments via PayPal this option must be selected.
Depending on the desired payment method, an additional confirmation may be required after redirection to a page of the payment service provider, for example with the credit card provider, or by entering the email and password at PayPal.

IG Markets Bank Transfer Paypal Credit Card

THE AVAILABILITY OF FUNDS AT IG
Of course, most traders attach great importance to being able to use amounts once transferred as quickly as possible. However, the value date does not only depend on the payment service provider, but also on the processing by the broker. With IG, users have the advantage that transactions made by credit card or PayPal are credited immediately. If you choose to pay by bank transfer, you should allow between one and three working days for the money to be credited to your trading account.

Another issue is the limits for payments. The broker does not charge a minimum deposit, but a certain minimum volume on the trading account is reasonable. There are also differences between payment service providers in terms of minimum and maximum amounts.

  • Bank transfer: no upper and lower limit
  • Credit card payment: min. 10 Euro, max. 10.000 Euro
  • PayPal: min. 1 Euro, max. 2.500 Euro

With PayPal there is a send and debit limit for new customers, which is mainly for security reasons. The limit remains as long as the own bank account is not confirmed. If the bank account is verified, the maximum limit can be adjusted, but in individual cases PayPal reserves the right to check higher payments.

What advantages does PayPal offer?

More than 150 million account holders now use the PayPal platform to make payments. The advantage of the payment service provider: customer data is not transmitted to the merchant, but is kept by PayPal. The service can be used in two different ways. Either the PayPal account is capitalised beforehand, by bank transfer or credit card payment, or the payment order via PayPal is covered by a reference account.

Provider with bank license
Customer protection and reimbursement
Fast execution
No disclosure of customer data

The service allows secure and fast execution of payments, which has even been approved by TÜV as a reliable payment method. Users do not have to accept any time delays, account management is free for private customers, and PayPal can even be used from a mobile phone.

The service can score points especially through the buyer protection. If a purchased item does not correspond to the tender or is not delivered, PayPal refunds both the purchase price and the delivery costs. The same applies if unauthorised third parties gain access to the PayPal account. All in all, PayPal convinces through high security and easy handling and is subject to the corresponding legal requirements for financial service providers due to the provider’s banking licence. For example, customer deposits are kept in separate accounts, separate from the company’s capital, and are safe from the claims of possible creditors even in the event of the provider’s insolvency.

IG Markets PayPal
IG Markets withdrawal: uncomplicated and free of charge
Anyone wishing to withdraw funds from their IG Markets trading account after a few successful trades must be verified as previously stated. This requires the presentation of a valid identity document and proof of residence – a rule that applies to all brokers. The documents can be made available to the broker via VideoIdent, via the PostIdent procedure at a Deutsche Post counter, but also by direct upload.

Withdrawals, just like deposits, are instructed from the IG Dashboard. After logging in to My IG, select the tab “Live Accounts” and then “Withdrawal”. The processing of payout requests by the broker is usually done within one business day. Traders can therefore expect that the withdrawn funds will quickly reach the reference account. In case of delays, the support provides clarity – here, for example, an expired credit card may be responsible for a prevented payout, so the validity of the card should always be guaranteed.

As with most brokers, IG Markets only allows withdrawals and deposits to and from private accounts held by the trading account operator, and not through third parties. By default, withdrawals will be made through the same method as deposits, up to the amount previously deposited. Withdrawals are made as a refund to the credit card or by bank transfer.

There are no fees for a withdrawal, so traders will receive the full amount of their withdrawal to their reference account. It should be noted that the Broker does not pay any withholding tax to the tax authorities, so traders must take care of the taxation of their profits themselves and declare them correctly on their income tax return.

Refer a friend and inactivity fees with IG Markets

The initial deposit with an online broker used to be accompanied by sometimes attractive welcome bonuses. Brokers, just like direct banks, used bonuses as a means of attracting customers. The payout was usually only made after a prescribed number of trades. In the meantime, the law prohibits all Forex and CFD brokers offering their services within the EU from offering bonuses to new customers. Accordingly, IG Markets does not offer a deposit bonus either. Additional services offered by the broker include a well-equipped educational area and a demo account (albeit limited to 14 days).

At times, IG Markets offered bonuses for referrals. Traders who recommended the broker received bonuses if this resulted in the opening of a live account and first trades were made. Existing customers interested in such promotions should keep their eyes open if they are offered again.

There are no hidden charges when trading through IG. Although the broker charges an inactivity fee, this is only paid after a trader has been inactive for two years. The monthly fee of 14.00 Euro will be deducted from the trading account, but without the possibility of negative account balances. In addition, the broker will inform affected customers about the first debit of this fee by e-mail and in advance!

Conclusion: Long-standing broker with three convenient payment options

IG, formerly IG Markets, is a proven broker with a wide range of trading capabilities and more than 40 years of experience in the market. The broker does not offer its clients an excessive variety of payment methods, but ensures that the trading account can be capitalised quickly, safely and cost-effectively. To this end, traders have the choice of transactions by credit card, by bank transfer or by payments through PayPal. Those who choose to pay by credit card or PayPal can look forward to immediate credit. According to IG, bank transfers can take up to three days to be credited.

Fortunately, IG Markets does not require a minimum deposit, so even small investors have no difficulty getting started, supported by the broker’s comprehensive range of training courses. IG does not charge fees for either deposits or withdrawals, a real exception. Interested users can gain a first impression of the trading offer, platform and services via the free demo account with virtual capital of €10,000, which is limited to 14 days. No deposits have to be made for this

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