To transfer funds out of your account, please visit the 'Account' section of the trading platform. If you would like further instructions, please contact Client Management using one of the options on our Contact Us page.
For compliance purposes, client refunds can only be returned to the original funding source.
For example, if you deposit funds into your account via debit card, funds will be returned to you via the same debit card, which must be registered on your account.
The minimum withdrawal amount is £50, or your remaining account balance (whichever is lowest).
The maximum you can withdraw in a single transaction is £20,000. We place no restriction on the amount you can withdraw per day, but please be aware that withdrawals may be subject to our internal approval process.
If you wish to withdraw more than this amount in one transaction, please contact our Client Management team using one of the options on our Contact Us page.
A small number of credit cards (including a few from MasterCard and Visa) will not allow us to pay funds back to your card. If you are using one of these cards you will be notified when you attempt to make a withdrawal. If this is the case we can arrange for your funds to be paid back to the bank account of your choice.
To minimise the risk of card fraud we may also request some documentation from you before the bank transfer can be processed.
You can withdraw money to any of your registered payment cards, but the card has to have already made a successful deposit. There are no fees for withdrawals back to a payment card.
The maximum amount you can withdraw is called your 'available for withdrawal’ balance. You may withdraw all or part of your money from your account at any time, as long as it is not already committed to any open trades. If you withdraw all of your funds your account will still remain open for future use.
When all of your Net Deposits are zero, you'll then be able to withdraw any extra funds in your balance back to any registered payment method.
Net Deposits are a facility we have in place to abide by a number of important financial regulations. We also use this process as part of our own internal security measures to combat security issues - such as money laundering, card theft and fraud.
When you're ready to withdraw funds, you'll see a Net Deposit amount next to each registered payment method. Your Net Deposit amount will reflect any transactions carried out with that particular payment method. It is calculated by subtracting your total withdrawals from your total deposits for that payment method.
The Net Deposit on any registered payment method must be at zero before you can remove that payment method (or withdraw any excess funds related to that particular payment method).
In simple terms: you can only withdraw funds back to the payment method from which they came.
Let's say you have two cards registered and deposit £100 from Card A and £150 from Card B. This gives you a Net Deposit of £250.
You place all that money on a trade that subsequently closes at £350. This means that you will need to withdraw £100 to Card A and £150 to Card B before you can withdraw the remaining £100.
Once those two amounts are withdrawn, the remaining balance can then be withdrawn to either card without issue.
Please note: Net Deposits refer to deposits and withdrawals only. The Net Deposit figure is only affected by deposits or withdrawals to that specific payment method.
If you have received a replacement for the previous payment method and already added it to your account, please contact us - we will be happy to remove the old version(s) for you.
If you no longer have access to the previous payment method (and dependent on a number of routine security checks) we may be able to remove it from your account. Please be advised that, in some cases, we may require additional documentation confirming that the previous payment method is no longer active before we can remove it.
We operate a closed loop policy which enforces the withdrawal of funds back to their source. You will be required to level off any deposits made with the same amount of withdrawals before you withdraw any excess funds back via another payment source.
This policy protects both you and City Index against fraud and money laundering.
There are numerous reasons why a withdrawal might not be processed, including:
No. Withdrawals are free of charge unless you require a CHAPS payment, in which case there is a £25 charge for payments under £5,000.
Yes, but we can currently only offer this service for card withdrawals. You will receive an email confirming the transaction has been processed to the registered email address on your City Index account.