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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

How do I deposit funds into my account?

You can deposit funds with your credit card, debit card or via bank transfer. Corporate account holders can only fund their account through bank transfer. We currently don’t accept PayPal funding.

Your IG account details (such as your full name and address) need to match with your bank account details as we don't accept funding from third parties or business cards.

Note for international IG accounts:

Your international IG account(s) will need to be funded in foreign currency, such as GBP, USD or EUR.

South African residents over the age of 18 are allowed to transfer funds offshore within the following annual thresholds:

  • Full single discretionary allowance of up to R1 million per year

  • Foreign investment allowance of up to R10 million per year

For international transfers, different banking details such as BIC/SWIFT codes and IBAN numbers apply to each foreign currency. These details will be shown during the deposit process after you choose your preferred currency.

How to make a deposit

Desktop

To make a deposit from the desktop platform, log in to My IG and click on ‘add funds’ next to the account you’d like to fund.

Alternatively, you can open the relevant account’s web trading platform and click on the ‘add funds’ button at the top of the screen.

Another way you can make a deposit is by clicking on the ‘live accounts’ tab at the top of your My IG dashboard. You’ll then need to choose the relevant account from the dropdown, click on ‘deposit funds’ and select your preferred payment method.

Mobile

Open the app on your iOS or Android device, click on ‘account’ on the bottom-right corner of the screen, select the relevant account and click on ‘add funds’ to choose your preferred payment method.

funding on mobile

Deposits requiring a currency conversion

Our standard FX conversion fee is 0.5%, which is added to the best available exchange rate provided by several banks. To add our FX conversion fee, we first multiply the underlying exchange rate by 1.005.

Example:

Say you deposit $1000 from a USD denominated bank account into your CFD account (which has a base currency of ZAR), and the USD/ZAR exchange rate is 18.69.*

To add our FX conversion fee, we’d multiply the exchange rate by 1.005, resulting in a conversion rate of 18.7834.

After conversion, your account will be credited with $1000 / 18.7834 = R53.242

This is how to work out the FX conversion fee in ZAR:

R53.24 x 0.5% = R0.27

* This example is for illustrative purposes only. It’s important to check the applicable costs and charges of any trade before opening it. The figures above might not add up to a given total due to rounding.

Payment methods

Credit or debit card

If you use this method, make sure that your card details match the name and address on your IG account. Any successful payments are deposited immediately.

You can have up to five active cards on your account at a time. If you’ve reached your limit but want to add a new card, you’ll need to first remove one of them. You might need to attach some documents to help us verify your card before you can delink it.

Bank transfer

If you’re transferring funds internationally, or your deposit needs an FX conversion, the standard processing time is one to three working days, depending on your bank. If you provide a valid proof of payment, we can credit your account in advance – but this is at our discretion.

To fund your account this way, select the relevant account from the live accounts tab in My IG and follow these steps:

1. Click on ‘deposit funds’

2. Select ‘bank’

3. Choose the deposit currency

4. Copy the details needed for your transfer

  • For domestic bank transfers, you’ll find the account name and number, branch code and your deposit reference

  • For international bank transfers, you’ll find the account name, IBAN, BIC/SWIFT code and your deposit reference

5. Complete your deposit by entering the details above into your bank’s payment form

For withdrawals, we usually return money to the same bank account or card you used to fund your account. We might need more information from you before processing a withdrawal request.

If you’re a professional client with segregated funds, contact us for the relevant banking details.

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