Deposits and Withdrawals.
The broker accepts deposits through debit or credit cards and wire transfers. It accepts debit cards of the VISA of the United Kingdom, Switch or Maestro, Solo cards, Irish Laser-cards, and cards of Electron. It is important to note that the broker charges 1.5 percent fees on the debit cards originating from other countries (other than the United Kingdom). It also charges similar fees on the credit cards of VISA or MasterCard. The company restricts the payment from the residents of the United States. IG also accepts the payment through android and IOS mobile applications. The broker has capped the minimum deposit amount to £100, while there is no cap on the maximum amount of deposits. The credit or debit card payment provides instant realization in the trading account, whereas, the payment through wire transfer is credited on actual realization of funds.
The company lets you withdraw your funds either through credit or debit cards and wire transfers. Though the broker accepts payments through MasterCard, it restricts withdrawals to the MasterCard issued outside the United Kingdom. The preferred withdrawal method is wire transfer and it takes only one day for the transfer to the United Kingdom based banks (CHAPS), and BACS takes 3 to 5 working days to transfer the funds. The broker charges £15 for the withdrawal of less than £100 and for International withdrawals. The broker has not put any limitation on the withdrawal amount and one can withdraw any available amount from his or her trading account.
IG Binary Steps to Trading
Signup and Bonuses
The broker has started the binary options trading way back in 2003, when others were struggling to understand the binary, and hence, it has its own processes and follows a set of rules to provide services. If you are attracted towards the signup and deposit bonuses, then this broker is not for you as it does not offer any kind of giveaway to their customers.
Signup on the site requires the usual fields and is straight forward. It requires your name, e-mail, contact information, ID proof of the resident country and other generic information. The company strongly recommends the first timers to go through their policies before commencing the trading.
PS: The broker charges fees of £12 each month on the accounts which have been inactive for the past 24 months.
Payouts and Trading
The payouts, in this case, is not as straight as some other broker offers. In the case of IG, the binary has only two outcomes, either zero or hundred and the payout depends on the difference of premium and outcome. For instance, if you want to buy an option then you will have to pay a premium to broking house and if your bet turns out to be true then your payout will be 100 minus the premium amount. Otherwise, you will lose your premium amount. The platform offers an exhaustive list of options for the traders to cater to all categories. For the short term traders, it offers options for assets expiring from 60-sec to 60 minutes through its ‘Sprint’ platform, while, for long traders, it offers expiry ranging from 5 minutes to 1 month, through its ‘Binaries’ platform.
Along with, long and short term options, the broker offers all types of binary options to suit your requirements. It offers ladder, target, 60 second, high or low, and one touch amongst others. The company offers an array of assets including indices, stocks, currency pairs, commodities, economic data, and political event outcomes to the traders. The trading platform is optimized for the mobile devices and offers a mobile application for the client on the move. It caters to the most popular mobile platforms; the android and the IOS. The mobile applications, not only allow real-time trading, it also offers money management. Both the applications are available in their respective app stores.
The minimum trade amount required varies from asset to asset and the range is 50p to £ 10. The trading amount requirements are informed to the client before the transaction is confirmed and call the “Margin Amount”.