How do I deposit funds into my account?

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.

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.

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.

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.

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