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IG Minimum Deposit

Published by Usman Ahmed, MBA (Researcher)

Reviewed by Bowen Khong, ACCA

Minimum Deposit

IG trading allows a $300 minimum deposit for card payment, and there is no minimum for a bank transfer. Depending on the deposit method, it can take anywhere from 10mins to 7 business days for a deposit. The Broker offers the fastest transactions 24/5 during working hours. The company does not charge any fees for deposits.[1]

Read: IG review

Currency Preference

You may pick from six different base currencies at this Broker.: USD, GBP, AUD, EUR, SGD, and HKD. You cannot choose your account base currency when you open an account. Only by sending an email to the company’s Customer Service can you change the base currency of your account. It would be preferable to choose your account base currency when you first set up your account.

Once it’s set, any deposit you make from anywhere in the world will be converted to the account’s default currency. For example, you live in UAE, your account’s default currency is USD. When you deposit any dirhams from your desired payment method, you get a converted amount of USD. Keep in mind that the current conversion rate on currencies is applied while depositing. So checking the conversion rate from your local currency to the account’s currency before making a deposit may be a good idea.

Account Types

The Broker offers a variety of accounts for its clients:

  • Trading account
  • Professional account
  • Options Trading Account
  • Turbo24 account
  • Limited Risk Account
  • Share Dealing account
  • Exchange account (NADEX)
  • Islamic Account for UAE clients

Commissions, fees, margin calls, leverage, and minimum deposits are different for each account type.

Payment Options

The Broker offers a wide range of payment options. So clients from all over the world can choose from various payment options and make a deposit. However, the minimum deposit requirement also varies for different payment options.

Bank Transfers

If you want to use bank transfers to deposit, you can use one of the following methods:[2]

  • Internet Bank Transfer (FAST payments only)
  • Telegraphic Transfer (T.T.)
  • Corporate PayNow (UEN Payments)

Standard Chartered Bank

You can also use your Standard Chartered Bank account to deposit. There are two methods:[3]

  • Bill payment options in online banking
  • Standard Chartered Cheque

Credit/Debit Cards

The company allows two types of cards for deposits:[4]

  • Master Card
  • Visa Card

Alternatives (E-wallets)

IG trading allows deposits from the following alternative methods such as E-wallets:[5]

  • PayPal
  • BPay

The Broker allows different minimum deposits for each payment method. See the table:

Payment OptionMin. DepositDeposit FeesProcessing Time
Internet Bank Transfer$1No FeesWithin a day on weekdays
Telegraphic Transfer$1No Fees2-3 working days
Corporate PayNow (UEN Payments)$1No FeesWithin a day on weekdays
Bill payment option$1No FeesUp to 10 minutes
Standard Chartered Cheque$1No FeesUp to 10 minutes
Master Debit Card$300No FeesUp to 10 minutes
Visa Debit Card$300No FeesUp to 10 minutes
Master Credit Card$3000.50%Up to 10 minutes
Visa Credit Card$3001%Up to 10 minutes
PayPal$11%Up to 10 minutes
BPay$1No FeesUp to 10 minutes

The Broker also has a predefined minimum deposit in different currencies:

CurrencyMin. Deposit
SGD450
USD300
GBP250
HKD2500

How to Deposit

Before you can deposit and start trading, You need to verify your identity and address by providing two types of proof:[6]

1: Proof of Identity

  • Passport
  • Driving licence

2: Proof of Address

You can provide one of the following documents from the last six months for address verification:

  • Utility bill
  • Bank statement
  • Credit card bill

Deposit Funds

To deposit funds:[7]

1. log in to My IG.

2. Click ‘Deposit funds’ next to the account you’d like to deposit into.

3. Select payment option

4. Select the amount

5. Follow the instructions to complete the deposit

Sign up Bonuses

Unfortunately, the Broker does not offer any signup bonus at this time. However, it provides partnership and referral promotions.[8]

Usman Ahmed, MBA (Researcher)
Usman Ahmed, MBA (Researcher)
Usman Ahmed is a currency trader and financial market analyst with more than 7 years of active trading experience. Besides holding a Masters degree in Business Administration, he has worked for some of the most renewed companies in the forex industry including FXCM, IQOption, MetaQuotes, Alpari, FXStreet, DailyFX and several others. Usman possesses strong technical analytical skills and is famous for his very own, informative and entertaining, writing style. He believes in naked chart trading analysis that is commonly known as price action trading. He follows global financial news and macro-economic events very closely.
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