How to withdraw money On IG – Withdrawal tutorial

With online trading comes the problem of withdrawing funds from your trading account. Many online trading platforms make the process of withdrawing funds from one’s trading account very complicated. 

A trader trades online with the sole purpose of making profitable investments. He might want to withdraw funds from his trading account as and when needed. In such a case, a trader looks for those online trading platforms having a smooth withdrawal process. 

A trader also concerns himself about the payment methods available at the trading platform. All investors prefer those brokers who support multiple withdrawal methods and a convenient withdrawal process. 

IG withdrawal process is simple and convenient for all users. Whether you are using IG for the first time or a regular IG client, you can withdraw funds from your IG account without any hassle. Every trader wants to withdraw funds from their trading account at their discretion, and IG is the right platform for it. 

Opening a live trading account with IG, depositing funds to it, and making a request for IG withdrawal is easy. 

You can use that payment method to request an IG withdrawal which you used to fund your account. IG offers multiple withdrawal options to its clients. These include card payments and bank transfers. You can use your credit card, debit card, bank transfer, and FPS Hong Kong dollars to fund your account. However, IG limits its withdrawal methods to credit cards, debit cards, and bank transfers. 

You can request IG withdrawal any time after you make profitable investments. The minimum withdrawal amount varies across the payment methods. The Minimum IG withdrawal amount also differs according to the currency in which you withdraw funds. The withdrawal process is not much complicated. To withdraw funds from your IG trading account, you can follow this process given below. 

How to withdraw money?

If you wish to withdraw funds from your IG trading account, you can

1. Log in to your IG trading account by entering your login credentials. You should ensure that you have sufficient funds in your IG trading account to submit a request for withdrawing funds from your account. 

2. Go to the ‘Live Accounts’ tab and click on the ‘Withdraw funds’ option. 

3. A list of payment methods will appear on your screen. You can select any payment method you previously used to fund your deposit. 
4. Now, enter the withdrawal amount you wish to withdraw from your IG trading account. Also, make sure that the funds you wish to take out are available in your account. 

5. Confirm the payment method and the amount, and finally, submit your IG withdrawal request. 

6. After submitting your IG withdrawal request, you will receive an email notifying you about your request. 

You can request fund withdrawal only in that mode of payment that you earlier used to fund your account. For example, if you deposited funds in your IG trading account through a bank transfer, you can submit a withdrawal request through bank transfer only. Likewise, if you used your credit or debit card to send money to your trading account, you can request an IG withdrawal into your respective cards. 

Let us briefly look at the payment methods offered by IG to withdraw funds from your account. 

Payment methods

IG withdrawal payment methods are not different from IG deposit methods. IG offers the same withdrawal options as it does for deposits. To withdraw funds from your IG account, you can use any of these payment methods. 

1. Credit or debit cards
2. Bank transfers

Here is a detailed discussion of these payment methods. 

Credit or debit cards

Credit or debit cards are the most common payment methods that many brokers support. You can deposit funds into your IG trading account through your credit or debit card. When you want to request an IG withdrawal through your credit or debit card, you can select this withdrawal option without any hesitation. 

For withdrawing funds through your card, you need to provide your card details to IG. Also, you will need to verify that the card belongs to you as IG does not support third-party withdrawals. 

While selecting this payment method, if IG asks you to verify the source of deposit, you can provide them with a scan, screenshot, or photo of your payment. You can also attach your bank account statement for the account to which your card is linked. 

Once you verify your card with IG, there won’t be a need to do it over and over again. You can also choose to upload a scanned copy of your credit card or debit card showing your name but hiding all the sensitive details. 

After that, you can sit and wait for the funds to reflect in your account. IG withdrawals made with credit or debit cards can take up to a few days to transfer to your account. 

Bank transfers

Bank transfers are another withdrawal option that IG offers its valued clients. In fact, many IG users use bank transfers to deposit and withdraw funds from their accounts. Bank transfers do not have any upper limit on IG withdrawals and deposits, so many clients prefer this payment method. 

If you want to use bank transfer to withdraw funds from your trading account, you can do so by selecting this method under the ‘Live Accounts’ tab in the ‘My IG’ section. 

You may add your bank account details to receive funds into it. You can also request an IG withdrawal into your bank account if you used it to fund your account. To do this, you can upload a clear picture or a screenshot of your bank account statement. This picture of the screenshot should clearly mention your 

● Full name

● Bank account number

● An original payment that you made to IG 

● Your bank’s logo or emblem

After confirming your bank account and the withdrawal request, IG will process your withdrawal within a short time. However, if you receive your fund withdrawal through a bank transfer, you might have to wait for a few days for the payment to clear.

Let us know exactly how long it takes for the IG withdrawal to reflect into your bank account.

How long does it take to withdraw funds from IG?

Different payment methods involve different duration in the clearing of the transaction by the bank. After you submit a request for an IG withdrawal, it processes your fund withdrawal within the shortest possible time. IG usually takes up to 24 hours to process your withdrawal request. However, there might be a delay for you to receive funds in your bank account. It is because of the payment method you choose. 

This table will give you an idea about the time involved in getting your IG withdrawal credited to your account.

Payment methods	Time involved
Bank transfers	1-3 working days
Credit or debit cards	2-5 working days

Bank transfers take a time of up to 1-3 working days unless there is any technical error on the part of the bank. Credit or debit card payments can take up to 2-5 working days for the transaction to clear. 

Therefore, you should select a deposit and withdrawal method considering the time involved in the payment to reflect in your account. Depending upon your urgency of need, you can choose a suitable IG withdrawal method and receive funds in your bank account. 

Fees that can occur

Many online trading platforms charge a hefty fee from their clients when they withdraw funds from their accounts. However, IG does not charge any fee from its customers as long as they are not making an international bank transfer. 

Payment methods	Withdrawal fees
Domestic bank transfer	$0
International bank transfer	15 GBP
Credit or debit cards	$0

If you use the option of international bank transfer to withdraw funds from your IG trading account, you might have to incur a withdrawal fee of 15 GBP. If you are using a currency different from GBP to request your withdrawal, you will have to pay a withdrawal fee equivalent to 15 GBP in that currency. 

Most of the basic withdrawals are free at IG. It means you can withdraw your funds through bank transfers, credit cards, or debit cards without paying any withdrawal fee to the broker. 

The IG fees are subject to the company regulations and may change over time. 

You can choose any withdrawal method for your IG withdrawal without worrying about any fee. 

Minimum withdrawal amount

While requesting IG withdrawal, you should be careful of the minimum withdrawal amount. IG stipulates the minimum withdrawal amount for its users. The IG minimum withdrawal amount is $150, but it varies according to the currency you deal with. If you do not have $150 in your IG trading account, you can withdraw whatever amount is present in your IG account. 

Here is a list of the minimum IG withdrawal amount according to different currencies. 

Currency	Minimum withdrawal amount
GBP	100
EUR	150
AUD	200
USD	150
SGD	200
HKD	1,250

The minimum IG withdrawal amount for GBP and EUR currencies is 100 GBP and 150 EUR, respectively. HKD minimum withdrawal amounts to 1250 units. If you use AUD or SGD to trade through your IG account, you can withdraw a minimum amount of 200 units in these currencies. 

Now that we know about the minimum IG withdrawal amount let us look at the maximum amount you can withdraw from your IG trading account. 

Maximum withdrawal amount

If you make your IG withdrawal through your card, you can withdraw up to $25,000 every day. There is no maximum withdrawal limit on the amount you can withdraw through bank transfer. 

However, the maximum withdrawal limit on your IG withdrawals depends on the currency you use. 

You can get an idea about the maximum IG withdrawal amount through this table.

Currency	Maximum withdrawal amount
GBP	20,000
EUR	25,000
AUD	35,000
USD	25,000
SGD	35,000
HKD	NA

Using USD and EUR, you can withdraw a maximum of 25,000 units of the currency. You can take out an amount of up to 35,000 units if you trade in AUD or SGD. If you use GBP to invest through IG, the maximum fund withdrawal amounts to 20,000 GBP. 

Problems/ Issues with IG fund withdrawal

IG withdrawal process does not come with much trouble. However, there are a few problems that a customer might face while making a withdrawal request. Let us look at these problems and appropriate solutions for them. 

Encountering problem with your IG withdrawal

Sometimes, you might encounter a problem with your withdrawal if you request your IG withdrawal through a payment method different than your deposit method. If you used your credit card to fund your IG account, you are now requesting a withdrawal through your bank account. 

In such a case, you might not be able to withdraw funds as long as you don’t select the original source of payment as your withdrawal method. 

However, if you want to transfer your funds to a different payment method, you can contact IG customer support. 

Not able to withdraw funds

Sometimes, a user is unable to withdraw funds from his IG account. Many beginners and first-timers face this problem, and it is mainly because of the reason that they have not verified their bank account. 

You can verify the payment method you want to receive the funds through. For example, if you wish to withdraw funds through a bank transfer, you can upload all the essential details like your bank account number, etc., with the broker. Once you verify your payment source, you will not have to do it again. 

Third-party withdrawals

One reason that can explain why you can’t withdraw funds from your IG account is that you are requesting a withdrawal through a third-party account. At IG, you cannot ask for a fund transfer into a bank account or card that is not yours. You can get your IG withdrawal into your own credit/debit card or bank account. IG does not support third-party withdrawals. 

IG reviews

IG offers its users a comprehensive trading platform to invest their funds in leading CFDs, forex, and securities. It also offers excellent trading and research tools to its clients. So, its clients’ stay up-to-date with the current market changes. 

Using the online trading platform is pretty straightforward. One does not have to research much about learning how to use IG. It also provides its users with many educational materials and information handouts. Investors across the globe trust this multi-asset broker. It is a publicly-traded online trading platform and performs under the regulation of FCA, the UK’s financial authority body. 

IG offers its users an all-around experience with a user-friendly interface. It ranks among the top low-risk brokers and is a reliable trading platform. 

This online trading platform is worth taking a chance on. 

Conclusion

IG is a safe and reliable trading platform. It offers many opportunities for professionals as well as beginners. You can sign up for a live trading account with IG with ease. You can deposit funds into your IG account using your credit card, debit card, bank transfers, or FPS Hong Kong Dollars. 

You can withdraw funds from your IG trading account after making a profit on investments. You can select the payment method for withdrawing funds that you used to deposit funds into your trading account. 

A trader can take out a minimum of $150 from his IG trading account. This minimum amount varies according to the currency in which one deals. 

There isn’t much hassle involved in depositing or withdrawing funds from your trading account with IG. In case of any problem, you can get in touch with the customer support of IG. 

FAQ – The most asked questions about withdraw money On IG :

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Last Updated on January 27, 2023 by Arkady Müller