Table of contents:
- 1 IG does not require a minimum deposit on the trading account
- 1.1 No minimum deposit required for the trading account
- 1.2 Important information about the IG minimum deposit
- 1.3 No minimum deposit required to use the demo account
- 1.4 Further important trading conditions with Broker IG
- 1.5 Note fees for deposits and withdrawals
- 1.6 Conclusion on the minimum deposit at Broker IG
IG does not require a minimum deposit on the trading account
The minimum deposit is one of the trading conditions for all Forex and CFD brokers that are relevant to traders. Especially newcomers to trading forex or CFDs are increasingly concerned that a minimum deposit is required from the broker. The reason is that sometimes several providers have to be tested, so that a few hundred euros should not be deposited directly into the trading account. Ideally, the broker will even waive a minimum deposit completely, which is also the case with the Forex and CFD broker IG.
No minimum deposit required for the trading account
The vast majority of Forex and CFD brokers require a minimum deposit, usually between 100 and 500 Euros. With Broker IG, however, they do not require their clients to make a specific initial deposit into their trading account. The trading account is therefore a live account with no minimum deposit, which is an advantage for the broker in this area of the conditions in direct comparison with competitors. As a result, every trader has the possibility to decide completely freely and without any specification what amount he wants to deposit on his trading account. In this way, it is possible to test the broker first without any problems, if necessary, without having to spare a larger sum.
Of course, all other brokers also allow the customer to have the minimum deposit once made to the trading account transferred back to his account. However, this is sometimes associated with a higher effort and can even lead to costs that the broker may charge for withdrawals from the trading account. Therefore the waiver of the minimum deposit by Brokers IG is certainly an advantage that many traders appreciate.
Important information about the IG minimum deposit
However, it must also be mentioned that due to the contract sizes of 0.50 Euro or 0.50 USD per point, for example in the DAX30, it does not make much sense to start with a 100 Euro account at IG with regard to reasonable money management in trading. We therefore recommend a minimum deposit of 500 Euro or more with IG. If this is too much for you, we recommend that you look in our Forex Broker Comparison to find a more suitable broker that will allow you to trade smaller contracts and thus better money management.
No minimum deposit required to use the demo account
In addition to the real trading account, where no minimum deposit is required, clients can also use a demo account with Broker IG.
The test account is made available for a period of 14 days and it is positive to note here that it is a so-called real demo account. This means that the trader does not have to make a deposit on the live account before using the demo account. This in turn means that the demo account can be used immediately and without a previous minimum deposit to the real account. Although the duration of use is limited to 14 days, this should be sufficient for most traders to train trading via Broker IG as thoroughly as possible.
Further important trading conditions with Broker IG
The minimum deposit is of course only one important trading condition that traders look for when comparing brokers. Also important is, for example, the margin as a security deposit, which must be available on the trading account before trading in foreign exchange or CFDs. IG has a minimum margin requirement of 0.5% for Forex trading. As a result, for example, for a trading volume of 10,000 euros, only 50 euros must be available as collateral on the trading account. This in turn results in a further trading condition, namely maximum leverage. This is 200:1 with the IG broker.
A special feature of Broker IG is that it does not require a minimum deposit on the trading account, but works with a so-called inactivity fee. For each month in which the trading account is not used, a fee of 14 Euro is charged. However, this fee only applies after 2 years of inactivity and only to accounts that still show a balance.
So if you have an active account but no credit balance, there is no fee. Among the other interesting trading conditions are of course the spreads. Their amount depends on which currency pair the customer finally decides on. Spreads generally start at 0.6 pips, which is calculated, for example, for the currency pair US Dollar and Euro.
Note fees for deposits and withdrawals
While the waiver of a minimum deposit is certainly a plus point of the broker, there are possible fees to consider for both deposits and withdrawals. For example, if you decide to make a deposit to your trading account by credit card, you must allow for a fee of 1.5 percent. If, on the other hand, the deposit is made by bank transfer, the customer does not incur any costs. The situation is different when withdrawals are initiated from the trading account. In this case, a credit card withdrawal is the free option, while a withdrawal by bank transfer below an amount of 100 euros is subject to a fee of 15 euros. Thus it is quite important with the Broker IG to inform first about these costs, so that for deposits and/or withdrawals the most economical transaction method can be selected in each case.
Conclusion on the minimum deposit at Broker IG
The overall conclusion on the minimum deposit with Broker IG can only be positive, since the broker completely waives the requirement of a minimum deposit on the trading account of the customer. Accordingly, all traders are free to decide which amount they would like to deposit for the first time and also subsequently on their trading account. The broker’s offer is also quite impressive when it comes to other fees, for example, trading with the most common currency pairs is already possible from 0.8 pips. Consequently, the Broker IG is in the area of trading conditions for many traders certainly a good choice.