Zero! If that’s not great news, we don’t know what is. Zero on bank transfers, that is. This changes with other deposit methods, which we’ll get into shortly.
IG is a great choice for those who want to invest or trade with more limited amounts of money. It’s particularly good for beginners, who can fund their accounts with more money as they gain experience with trading and investing. IG is one of those brokers that aims to encourage users to try their hand at trading, which explains their lack of a minimum deposit requirement. They are not looking for serious commitment.
Deposits made via PayPal, debit card, and credit card have a $300 minimum requirement. Beyond that, there are some benefits and disadvantages associated with this broker, which we’ll discuss to help you see if IG is the right choice for you. Here are the different factors to consider if you’re planning on opening an account.
Advantages
IG does not charge a deposit fee, which only makes sense considering you don’t even have to make one. You have several deposit methods to choose from, including bank transfer, PayPal and other e-wallets, and credit and debit cards. All the options except bank transfer take several hours at most. If you choose wire transfer, it can take up to three days, usually around two.
This broker is one of the safest on the market. It’s overseen by serious regulators, publishes financial info in a transparent manner, and is even listed on a stock exchange. The trading platform is customizable, intuitive, and well designed. Users can avail of a myriad of educational learning tools.
As a downside, this broker charges relatively high fees on stock CFDs and forex trading. Regrettably, they have a somewhat limited product portfolio. In some countries, options and CFD trading are the only products available. Some users have complained about unhelpful customer service.
Maximum deposits
Like minimums, IG also has maximum deposit limits. Customers who choose credit cards as their preferred method face a funding limit of $50,000. Holders of debit cards have a higher limit – $99,999. There is no limit on deposits via bank transfer.
Other information
Each trading account offered by IG is denominated in a base currency, in which your funds will always be held. IG supports EUR, GBP, and USD. If you make a deposit in a different currency, the broker will convert it automatically to one of the major currencies they support and charge a fee. You can open a multicurrency account to save yourself hassles and save on currency conversion fees.
