Frequently Asked Questions
Q: What ways are there of funding my CMC Markets account?
Please click here for details of the different methods of funding your account.
Q: How long does it take for funds to appear in my account?
| Payment Method | Fund available |
|---|---|
| Wire Transfers | Times may vary, generally funds are available within 24 hours |
| Online Bill Payment | Times may vary, generally funds are available within 24 hours |
| Personal Cheque | 5 Business days from receipt |
| Bank Draft | Once verified by CMC Markets Canada |
Bank transfers will be applied to your account shortly after arriving at our bank. We check our accounts regularly for new deposits throughout the day.
Q: Can I do direct deposit at a branch?
No. We do not accept any direct deposits under any circumstances in accordance with our anti-money laundering policies. For information on other ways to fund your account please click here
Q: Which financial institutions can I use for online bill payments to fund my account?
All major banks and credit unions in Canada. Look for CMC Markets Canada or CMC Markets in your bank’s bill payee list.
Q: Can someone else send funds into my account?
No, we do not accept 3rd party payments in accordance with our anti money laundering policies.
Q: Can I make a withdrawal request for currencies other than US dollar and Canadian dollar?
Yes. Please contact us for further information.
Q: How do I withdraw my money?
We will have the bank details you provided when you opened your account on record. Please contact us with your payment request and our payments department can send the funds to you by wire transfer free of charge.
Q: What are the charges for withdrawing my funds?
CMC Markets Canada does not charge any fees for wire transfers out of your CMC Markets account. However, your bank may charge you for receiving the wire transfer.
Q: I have more than one account with CMC Markets. How do I transfer funds between them?
Please contact us by telephone, Marketmaker™ chat or email with your request. We will then transfer the funds between your accounts free of charge.
Q: How do I convert my foreign currency balances in my CMC Markets Account?
Please contact us, our Payments department will confirm the exchange rate and convert your balance(s) over the telephone.
Q: Do I need to deposit different currencies to trade in international markets?
No. You can trade all the global markets we offer using one currency as your margin deposit.
Q: Where can I see my payment history on my account?
Payments in and out of your account are shown on the “Cash & Payment History” blotter and on your statement, which are both available in Marketmaker™.
Q: What do I need to set up an Electronic Funds Transfer?
You will need to complete the EFT Application Form, and mail in or drop off an original imprinted void cheque to our Toronto Office. We will not accept a copy.
Q: How do I request for an EFT to be made to my trading account?
Requests may be made via email, fax, phone or mail (signed).
Q: Will I need to send in a form and void cheque every time I want to make an EFT request?
No. Once your account has been set up for EFT, you can make a request at any time via Email, Fax, Phone or Mail (signed).
Q: How long does it take before payment is applied into my account?
EFT requests to fund your trading account will generally take 3 full business days before they can be applied to your trading account.
Q: How long does it take to receive the funds after I make a withdrawal request?
EFT payments are generally processed within 24 business hours. However, requests made before 10am ET may be processed same-day.
Q: Can I make an EFT payment request from/to a bank outside of Canada?
EFTs are only available within Canada.
Q: What if I need to change my banking information?
You will need to complete the EFT Application form for changes to your EFT bank details, and send in a new imprinted void cheque.