How to Withdraw Money from IG Markets - Updated 2024 (2024)

IG Markets Withdrawal – Overview

Most problems traders encounter are withdrawal issues, as evidenced by negative broker reviews, but IG Markets is one of the most trusted brokers and honors each withdrawal request professionally. Up to 90% of retail traders never ask for a withdrawal, as they manage portfolios at a loss. IG Markets reports a retail loss rate of 77.00% for its UK-based subsidiary. Profitable traders require a trustworthy broker with fast processing times and reliable execution. Read our in-depth IG Markets Broker Review.

We have conducted a comprehensive IG Markets withdrawal review, listing all withdrawal methods and processing times. It also features a guide on requesting your IG Markets withdrawal, where no internal withdrawal fees apply. Learn why over 300,000 traders trust the IG Markets withdrawal process.

IG Markets Withdrawal at a Glance

Depositing funds into your brokerage account is simple and withdrawing your profits should be equally so. Financial transactions at brokers are like online banking, and IG Markets features a user-friendly back office. Many brokers follow well-established industry standards, but notable differences exist in available withdrawal methods, internal processing times and fees, or supported currencies. Some payment processors are geographically restricted, but the IG Markets dashboard will only list available ones to traders based on their verification.

Traders must also consider how trustworthy their broker is, this is where IG Markets ranks exceptionally well, internal processing times are comparable to industry best practice at IG Markets. A 0.50% currency conversion fee applies if the withdrawal currency of the IG Markets trading account does not match the account base currency, for example, withdrawing from a US Dollar trading account into a Euro bank account. The USD, GBP, AUD, EUR, SGD, and HKD are account base currencies, but traders may deposit and withdraw in any currency (with a few exceptions).

IG Markets primarily relies on bank wires, inducing localized options, and credit/debit cards transactions, some traders may use PayPal too. AML regulations stipulate that withdrawals must follow the same path as the deposit, and IG Markets always asks traders to request withdrawals with the same method they used for a deposit, if possible. The IG Markets minimum withdrawal amount is $100 or a currency equivalent. Internal processing times at IG Markets are the same day if the request arrives before midday. Otherwise, IG Markets will process it the following business day, but it can take several days for clients to receive their withdrawals, depending on their payment processor and geographical location.

Steps for Sending the Minimum Withdrawal

Only verified trading accounts may request a withdrawal, and the name on the payment processor must match the name of the IG Markets trading account. The user-friendly and secure IG Markets back office manages all financial transactions, including any IG Markets withdrawal.

Below are the IG Markets withdrawal steps:

1. Log into the IG Markets back office using your username and password.

2. Click on “Live account” in the top menu. Traders with multiple trading accounts should select from where they wish to request their IG Markets withdrawal.

3. Click “Withdraw funds,” which will show the available withdrawal methods, usually bank wires and credit/debit cards. Choose the preferred method, which will load the withdrawal screen, and specify their withdrawal amount (make sure you have sufficient free margin to cover your IG Markets withdrawal and consider the $100 minimum withdrawal amount).

4. After traders submit their withdrawal request, IG Markets may conduct a security check and ask for additional information, like a screenshot from the bank statement, to confirm ownership. IG Markets also ask traders to request withdrawals using the same method used for deposits.

5. Internal processing times are the same day if the IG Markets withdrawal request arrives before noon. Otherwise, IG Markets will process it during the following business day. It can take longer for clients to receive their funds, depending on the payment processor and the geographic location of traders. IG Markets will notify clients once it completes the request, and the payment processor also sends a message once the funds arrive.

IG Markets Withdrawal Options

IG Markets relies on bank wires, localized methods related to banks, and credit/debit cards. Some traders may use PayPal, which is geographically restricted. IG Markets allows up to five credit/debit cards per account and one linked PayPal account. The secure and user-friendly back office, which lists every payment processor a client may use, manages all financial transactions for verified clients, including the IG Markets withdrawal.

IG Markets supports the following withdrawal options:

• Bank wires (domestic and international)
• Credit/debit cards
• PayPal (geographically restricted)

There are no internal withdrawal processing fees at IG Markets, but traders may face potential third-party payment processing costs. A 0.50% currency conversion fee exists if applicable. The IG Markets minimum withdrawal amount is $100 or a currency equivalent, and IG Markets processes all withdrawal requests the same day if received before noon. Dependent on the payment processor and geographic location, it can take between one to five business days for the IG Markets withdrawal to arrive.

IG Markets Withdrawal Fees

While deposits at brokers are usually commission-free, withdrawals, especially bank wires, may incur payment processing costs. IG Markets does not levy internal fees, except for a 0.50% currency conversion charge if applicable. Traders should check their preferred payment processor for a detailed breakdown of potential costs, which IG Markets does not control.

Traders who plan to use their IG Markets withdrawal for general everyday transactions, like paying bills or general consumption, should also check fees levied by their payment processor to the final destination of the funds. It will provide a complete cost picture and allow traders to calculate the most suitable and cost-efficient option.

Below are the IG Markets withdrawal fees for each withdrawal method (excluding third-party costs and currency conversion fees):

• Bank wires - $0, the IG Markets minimum withdrawal is $100 or a currency equivalent, unlimited maximum withdrawal
• Credit/debit cards - $0, the IG Markets minimum withdrawal is $100 or a currency equivalent, $20,000 maximum withdrawal
• PayPal - $0, the IG Markets minimum withdrawal is $100 or a currency equivalent, $5,500 maximum per transaction, unlimited daily translations

The average withdrawal time for the IG Markets withdrawal methods (excluding third-party payment processor times, range between one and five business days):

• Bank wires - Up to three business days
• Credit/debit cards – Usually same day but can take two to five business days
• PayPal - Between near-instant and within one business day

IG Markets supports the following withdrawal currencies:

• Bank wires - All fiat currencies, some exceptions
• Credit/debit cards - GBP, EUR, AUD, CAD, CHF, USD, NZD, SGD, PLN, DKK, NOK, SEK, HKD, ZAR, and JPY
• PayPal - GBP, EUR, AUD, CAD, CHF, USD, NZD, SGD, PLN, DKK, NOK, SEK, HKD, ZAR, and JPY

Noteworthy:

• Only the USD, GBP, AUD, EUR, SGD, and HKD are account base currencies, and traders will pay a 0.50% currency conversion fee for other currencies, for example, withdrawing to a CHF-denominated account

IG Markets Withdrawal Conclusions

The IG Markets minimum withdrawal amount is $100 or a currency equivalent, and IG Markets does not levy internal fees except for a 0.50% currency conversion cost if applicable. Traders may face third-party processing fees, especially for bank wires. IG Markets processes all withdrawal requests the same day if received before noon. Otherwise, it will do so during the following business day. It can take up to five business days for the IG Markets withdrawal to arrive, which depends on the payment processor and the geographic location of clients.

IG Markets supports bank wires, localized bank-related options, and credit/debit cards. Some traders may have access to PayPal, which is geographically restricted. While IG Markets ranks among the most trusted brokers for withdrawals, it lacks modern payment processors and the flexibility some other brokers offer.