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Why do I need to set up bank details?

You only need to set up bank details if you intend to transfer funds to your bank account. You can also fund and make withdrawals from your account via PayPal and bank transfers. Once your bank details have been verified, your bank account will be registered and visible as a withdrawal destination on your payments menu. As we are not permitted to make any third-party payments to clients, we may ask that you provide us with some form of documentation to ensure ownership of the bank account you wish to register matches the records held on our database.

Why is my destination limit $0 when attempting to withdraw to my card?

If you haven’t sent funds back to a registered debit or credit card in a period of 12 months or more, or if your card has expired, we will no longer be able to use the card as a withdrawal destination. Please note that you may only withdraw up to the total amount deposited from that particular credit card. For example, if you deposit $10,000, and make $20,000 then you will only be able to withdraw the initial $10,000 back to your registered card. If you need any assistance withdrawing funds from your account, please contact us.

How can I withdraw funds from my account?

You can withdraw funds from your account online by clicking on the 'Payments' icon and then selecting the 'Withdrawals' tab. Alternatively, you can use chat (Live help) or call our Client Management team for assistance. Please be aware that for your protection, we may request additional information and/or proof of identity before processing the withdrawal request. We do not transfer funds to a third-party account so please ensure that the bank account is in your name. Note: if your bank details are on file we will process your request the same day as long as your request is before the cut-off time of 2pm Sydney time.

You can additionally withdraw back to your registered credit/debit card up to the amount you have initially deposited using that card. For example, if you deposit $10,000, and make $20, 000 then you will only be able to withdraw the initial $10,000 back to your registered card. Withdrawals can also be made via PayPal.

I was timed out during my payment, how do I know if my payment went through?

Your payment has most likely not been processed. If in doubt please check your account balance under 'Account' or alternatively call us on 1300 303 888 or via email at support@cmcmarkets.com.au and we’ll be happy to help you.

Do I need to deposit any funds to activate my account?

You can sign in to your account as soon as your application has been successful and you have clicked on the verification link sent to your registered email address. However, you won’t be able to place a trade unless there are sufficient funds in your account to open a position. You can fund your account via PayPal, credit and debit card, plus bank transfers.

If you prefer to test strategies in a risk-free environment, our free demo account will allow you to practise trading with virtual funds.

What is PayPal?

PayPal is a global, secure online platform which allows real-time funding and withdrawals on your live CFD account.

What are the fees for using PayPal?

All deposits via Paypal will incur a 1% charge. Withdrawals via Paypal will not have a fee applied.

How do I link a bank account for withdrawals?

To link your bank account as a withdrawal destination, please enter your bank account details and upload a full copy of your bank statement via the 'Funding' module in the platform.

Please ensure the full bank account number, bank logo, and the full name and address of the account holder is shown on the statement. The name and address on the bank account needs to match the name on the CFD trading account. Please also ensure the statement has been issued within the last three months.

If you're not comfortable with providing a full copy of your bank statement, you also have the option to upload a copy of your bank account confirmation letter (issued within last three months). This needs to be downloaded directly from your internet banking or obtained by contacting your financial institution.

Alternatively, you can post us a bank account confirmation letter issued by your bank to confirm the bank account is in your name. The confirmation letter needs to be issued within the last three months.

The copy of the letter can be posted to our postal address below using your account number as reference and mark attention to CFD New Business Team.

CMC Markets Australia
PO Box R1879
Royal Exchange NSW 1225

Please contact Client Services if there are any issues.

1300 303 888

What are the fees for credit and debit cards?

If you make a deposit via debit or credit card you will be charged a merchant fee. Debit card deposits attracts a 0.6% merchant fee, while the fee for credit card deposits are 1%.

These deposits must be made from a card held under the same name as the trading account as we do not accept 3rd party payments.         

You are able to withdraw funds back to the card with no charge, although you can only withdraw up to your total deposit amount on that card, no more.

These withdrawals usually take around 3-5 business days.

What is 3D Secure

3D Secure is a fraud prevention measure that acts as an additional layer of security when making card payments online. If you’re registered with 3D Secure, you’ll be directed to your issuing bank’s verification page when you deposit funds using your card.

How do I add bank details to my account?

To link your bank account for withdrawals, please enter your bank account details and upload a full copy of your bank statement via the 'Funding' module in the platform. The bank account statement should be in the same name as the trading account and issued within the last three months.

How do I add credit card details to my account?

To add a new card, simply log into your account and select Account > Funding > Card. You will then be prompted to enter an amount, followed by your card details. Once you have made a payment from your card it will automatically be registered for future deposits and withdrawals.

What is PayID?

PayID is a unique ID that is linked to our CMC bank account, and can be used instead of the account number and BSB for real-time funding.

How much can I withdraw to my registered bank account?

You can withdrawal up to $100,000 AUD to your registered bank account, per transaction.

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