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Funding & withdrawals

Funding
How do I fund my account?

You can initially fund your account by transferring funds from your bank account or via POLi. A credit or debit card, or PayPal, can be used for funding after an initial deposit has been made from a bank account. There is a 1.5% charge for both credit and debit card payments. We don't accept cheque or cash deposits. Please ensure that any payment you make to fund your account is from a card or account in your name. Any payment from third-party sources will be returned. We do not accept AMEX or Diners cards.

Please note we will only take deposit requests over the phone if your account is approaching margin call.

How do I add credit card details to my account?

To add a new card after your initial funding, 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 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.

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 transactions or alternatively call us on 0800 26 26 27 or via email at support@cmcmarkets.co.nz and we will be happy to help you.

What is POLi?

POLi is an online payments service that enables you to make safe, real-time payments to CMC Markets directly from your online bank account. Note: CMC Markets will not charge you for this transaction.

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. The initial funding to your account needs to be made via a POLi or Bank transfer. If you prefer to test strategies in a risk-free environment, our free demo account will allow you to practise trading with virtual funds.

Does POLi work on Macs and PC's

We are using the latest version of - POLi 3 which is compatible on both Mac and PC. This version removes the need to download any software.

Withdrawals
Why do I need to set up bank details?

You will need to set up bank details for a bank account if you intend to transfer funds to that bank account.  Once these details have been verified, the bank account will be registered and visible as a withdrawal destination on your payments menu. Once these 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.

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 before the cut-off time of 2pm Sydney time.

You can additionally withdraw back to a 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.

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 NZ Ltd
PO Box 106645
Auckland Central 1143

Please contact Client Services if there are any issues.

support@cmcmarkets.co.nz
0800 26 26 27

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.

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. If you need any assistance withdrawing funds from your account, please contact us.

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.