This section describes the methods you can use to deposit and withdraw funds from your account.
Depositing funds
We welcome payment by any of the following methods:
- Debit card (Visa, MasterCard)
- Credit card (Visa, MasterCard)
- BPAY®
We do not charge for any deposit method other than credit cards and Visa debit cards, where an administration fee is levied (see below). You may, however, pay fees to the payment provider if you pay by credit card, debit card or bank transfer.
We do not accept third party payments. Any third party payments will be returned to the third party payer.
A summary of our payment types and charges are:
| Payment Option | Processing | Charges |
|---|---|---|
| BPAY® | Next day* | Free |
| MasterCard Debit Card | Instant | Free |
| Visa Debit Card | Instant | 0.5% |
| MasterCard Credit Card | Instant | 1.5% |
| Visa Credit Card | Instant | 1.5% |
*BPAY payments are usually credited the next working day subject to bank cut-off times and the inclusion of the correct reference to identify the funds.
Debit cards
We accept Visa and MasterCard. For legal reasons we are unable to accept cards where the cardholder is a US resident.
Debit card payments can be made electronically once you log in to your PureDeal trading account. Successfully authorised payments will be available immediately.
All debit MasterCard card payments are free. Visa debit card payments will incur a charge of 0.5% on all amounts transferred.
Your card issuer may treat a payment to us as a cash advance or international transfer (for non-Australian cards); we have no control over this. Please check with your card provider for more information.
Credit cards
We accept Visa and MasterCard. For legal reasons we are unable to accept cards where the cardholder is a US resident.
Credit card payments can be made electronically once you log in to your PureDeal trading account. Successfully authorised payments will be available immediately.
Credit card payments incur a charge of 1.5% on all amounts transferred.
Your card issuer may treat a payment to us as a cash advance or international transfer (for non-Australian cards); we have no control over this. Please check with your card provider for more information.
BPAY®
When you open an account you will receive BPAY details including a unique reference number (also located on the bottom of each of your statements). Log onto your regular internet banking site and follow the BPAY® instructions.
If you’re using this option to make a margin payment, please send evidence~ of your payment by going to the Send Proof of Payment section under My Account (on the PureDeal platform) and following the instructions.
~ Providing a proof of payment is not an instantaneous credit. The evidence must still be validated and the funds credited to your account. As this is a manual process, if you are making a payment to cover a margin call, your account will remain in margin and your positions in danger of being closed out until this process is complete.
To withdraw funds from your account you may:
- Use the secure Get a Payment Form that appears on the My Account tab on the interface under Payments.
- Email us at helpdesk
@igmarkets.com.au . If you do choose this method you will need to email us from your registered email address and confirm your banking details; or - Call our helpdesk on 1800 601 734. You will also be asked to confirm your banking details if you select this method.
The cut-off time for all EFT and TT payment requests is 2.00pm AEST. TT payments include Same Day Local, Foreign Currency and Foreign Bank Account requests. There is a minimum requirement of A$2,000.00 for any Same Day Local payment requests. All TT payment requests will incur a $15.00 charge in their respective currency requests, GBP, AUD and USD.
Electronic Funds Transfer (EFT)
EFTs will normally be credited to your bank on the next business day for any payment requests to IG Markets before 2.00pm AEST.
RTGS - Local Same Day Transfer, A$ only (TT)
There is a A$2,000 minimum requirement for any Same Day Local payment request. Such payment request will incur a A$15.00 charge. Same day Local payments are credited to your bank the same day.
Foreign Payments (TT)
We will also consider requests for TT payments (Foreign Currency payments and Foreign Bank account payments).
We are able to make A$ payments to most foreign bank accounts provided full bank details and SWIFT codes are supplied. These will be charged at A$15 per transaction.
Payments in the following foreign currencies: US Dollar and Sterling Pound can be requested. These will be charged at $15 per transaction in their respective currency requested, USD and GBP.
TT payments may take up to three (3) business days before it’s credited to your account.
Credit and debit cards
In Australia, we are unable to make payments to credit and debit cards.
Cheques
We are unable to make payments by this method.