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:
- DBS / POSB Bill Payment
- Internet Bank Transfer
- Telegraphic Transfer (T.T.)
- Credit or debit card
- Cheque
We do not charge for any deposit method other than cards, which is subject to a transaction fee of 2.1% on the total transaction amount, levied by the card provider.
We do not accept payments by cash or third party payments. Any third party payments will be returned to the third party payer. Cashier's Orders are only accepted if debited from our client's bank account.
Important: Following every cheque or T.T. to us, you should contact our Helpdesk. Following every Internet Bank Transfer, you should use the Proof of Payment facility to send us proof of your transaction.
Please note that providing proof of payment does not automate a credit to your account instantly. Evidence must still be validated for the funds to be 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.
DBS / POSB Bill Payment
Our preferred deposit method is via DBS / POSB Bill Payment. Deposits made via DBS / POSB Bill Payment are generally credited the next business day, subject to the bank's cut-off time of 11.30pm SGT and the inclusion of the correct reference to identify the funds.
Simply log into DBS iBanking, open the Payment Services menu and launch Bill Payment. From there, select IG Markets from the dropdown menu .
Be sure to include your IG Markets account number under the Consumer Reference No. field. You can further increase the speed of your transaction by using the Proof of Payment portal mentioned above. To do so, log into PureDeal and follow the instructions within Payments, found under My Account. For step by step instructions please click here.
Credit and Debit Card payments
Credit and debit card payments can be made electronically once you log into PureDeal, under the ‘Payments' section within My Account. Please note that you will first have to register your card by contacting our Helpdesk. Successfully authorised payments will be available immediately. A transaction fee of 2.1% is levied on the total transaction amount by the card processor.
Please note that for legal reasons we are unable to accept cards where the cardholder is US resident.
Internet Banking and Telegraphic Transfer (T.T.)
Our bank details are listed under the ‘Payments’ section within My Account in our PureDeal platform.
Please state your IG Markets account number as the payment reference to avoid delay in crediting the funds to your account.
To speed up the process of transferring money to your IG Markets account by internet bank transfer, you can use our Proof of Payment facility. This allows us to verify your transfer faster and add it to your account while the funds are still being cleared. Simply log in to PureDeal and follow the instructions under the 'Payments' section, found within My Account.
Cheque
To pay by cheque, either:
- Submit a cheque at any Standard Chartered quick cheque deposit box, made payable to 'IG Asia Pte Ltd', indicating our (SGD or USD) account number and your IG Markets account number on the back of the cheque; or
- Mail the cheque to us at 30 Raffles Place, #22-03 Chevron House, Singapore 048662
Please ensure that the cheque amount is correct, and that it is signed and not future dated.
Please contact our Helpdesk after your remittance with the following details:
- Your name
- Your IG Markets account number
- The amount you have deposited
- For cheque deposits, the cheque number and bank name
Depending on the mode of remittance, it can take between 2 to 3 working days for the funds to clear. They will be credited into your IG Markets account once cleared.
Withdrawing funds
To withdraw funds from your account you may:
- Use the secure 'Get a Payment Form' in the 'My Account' tab in the platform under Payments; or
- Email us at helpdesk
@igmarkets.com.sg . If emailing us, please remember to do so from the email address registered on your IG Markets account, and to confirm your banking details.
Any payment request received by 12pm SGT will be processed on the same business day. In Singapore bank transfers normally take around 2 business days before being credited to your bank account.
We return money by bank transfer only.