This is one of the most frequently asked questions. What is the minimum deposit required to start trading with Plus500? The immediate short answer is 100 units of local currency, e.g. $100 USD, $100 AUD, £100 GBP. The elaborated and complete answer can be found in this article.
Plus500 is a very popular online stock broker offering CFD trading in several different markets, including stocks, currencies and crypto currencies.
Is the minimum deposit required on Plus500?
A broker is a business that provides an electronic brokerage service. This service has operating costs that are transparent to all its customers, such as salaries, servers, etc.
Therefore, minimum deposit charges such as spreads or commissions are part of the broker’s income to cover its operating costs and if it is a successful broker like Plus500, its profits.
The higher the initial deposit, the higher the probability that the client will end up generating more profit for the broker.
The minimum deposit of Plus500 varies depending on the deposit method you choose.
For example, the minimum deposit is $100 for credit/debit cards and e-wallets, but $500 for bank transfers.
After depositing, you will be able to get to know the Plus500 platform in depth with this complete tutorial.
The minimum deposit on Plus500
Trading through Plus500 is done by opening positions in financial instruments, each of which has a unit amount. The minimum deposit is defined by, the minimum trading volume of the number of shares or contracts required to open an order.
There are also minimum deposit amounts of Plus500 for each payment method used, which can be viewed in the funds management screen of the trading platform.
The minimum deposit is EUR 100 for most payment methods such as debit or credit cards and electronic wallets and a minimum of EUR 500 for bank transfers.
The company does not charge customers for deposits and does not affect any charges against them.
To start creating a Plus500 account click here.
Minimum deposit of Plus500
The minimum deposit at Plus500 is 100 units of local currency, e.g. $100 USD, $100 AUD, £100 GBP.
Maximum deposit at Plus500
The maximum deposit will generally be limited by your deposit source. Bank transfers are the best option if you want to deposit a large amount of money into your trading account.
Your deposit options include: PayPal, Skrill, credit card or bank transfer.
If a user makes a deposit in a different currency to the one used at the beginning, Plus500 may impact the fees and charges resulting from the currency conversion.
All Plus500 affiliates are authorised and regulated in their jurisdictions and comply with all monetary regulations.
All funds sent to a client’s account with Plus500 are classified as client money and therefore receive the maximum protection afforded by regulatory requirements. Client funds are placed in segregated trust accounts and the firm does not use these funds for any investment or business purposes, including hedging.
Steps for sending the minimum deposit
Financing of a Plus500 account can be done via a Visa or MasterCard credit card, e-Wallets or by bank transfer.
Start the operation: Open an account with the broker
A customer interested in opening an account at Plus500 must start the opening process. Due to regulatory requirements, each client must provide a photo ID (passport, driver’s license or other official document), before being allowed to make a deposit or a withdrawal.
This information can be submitted through the *Plus500 contact form or by uploading a pdf, tif, jpeg or doc file with the upload function provided in the Plus500 trading platform. Clients should allow up to 24 hours for files to be reviewed. If the ID document cannot be scanned, the customer can make photos with a digital camera or mobile phone.
The Plus500 email will give the customer the details for transferring funds from their bank and will also indicate the minimum and maximum deposit amounts allowed via bank transfer. The minimum deposit is £100/100€/100£.
The most common methods used by brokers to allow their clients’ deposits are usually:
e-Wallets like Skrill, Paypal, etc
It is very easy to deposit funds in an account through e-Wallets. The client has to navigate to the “Funds” window on the trading platform, select the option from one of the available e-Wallets and enter the email address of the user’s e-Wallet. A new pop-up window will open where you can confirm the transfer made.
The fastest way to start trading is by depositing through a Visa or MasterCard. To complete a deposit, the client should click on “Funds” -> “Deposits” and follow the corresponding instructions
Deposits made to Plus500 via bank transfer are usually simple, but take up to “five days” to appear on the account. To make a deposit via Bank Transfer, go to the “Funds” window, click on “Deposit” and select “Bank Transfer” and then click on the “Send Bank Transfer Details” option. Plus500 will send an email to the client with the details of the transaction.
Keeping track of the transfer
In order to have security in the operations, and for precaution purposes, after the initial deposit is made, it is advisable to maintain a certain level of monitoring of the process and the time elapsed. Plus500 will send you a confirmation email upon receipt of the funds.
Minimum Withdrawal on Plus500
It depends on your withdrawal method.
The minimum withdrawal amount for PayPal and Skrill is less than $50USD (or its equivalent in the base currency, 45 at the time of writing), or your available balance.
However, The minimum withdrawal amount for bank transfers and credit cards cannot be less than 100 USD (or its equivalent in the base currency), or your available balance.
Processing a withdrawal request for less than the minimum withdrawal amount will incur a fee of 10 USD (or its equivalent in the base currency).
Maximum withdrawal on Plus500
At the time of writing this article, there is nothing in the user agreement that mentions a maximum withdrawal amount. Therefore, we assume that there is no upper limit to withdraw your balance.Open an account with Plus500 to start trading in the financial markets with a serious and regulated broker.
Withdrawal execution times
The following withdrawal methods are the ones offered by Plus500. Please note that some of the methods may not be available in your country:
- E-wallets – PayPal or Skrill: Funds must be received in your e-wallet account within 3-7 business days after the withdrawal has been authorized.
- Bank transfer – direct bank to bank transfer: Funds must be received in your bank account within 5 business days after the withdrawal is authorized. Withdrawals to a bank account may be subject to additional delays, sometimes depending on the banking institution and jurisdiction of the country where the bank is located.
- Debit/Credit Cards: funds must be received in accordance with the refund processing time of each card issuing bank.
Conclusion on Plus500
Plus500 is certainly a quality broker, and only by comparing it to other CFD traders can you determine if it is the best CFD broker. Online trading is increasing in popularity, as the internet and social media begin to dominate our lives and expectations.
Certainly, the Millennium generation expects everything to be available online, including managing their finances and investments. This means that financial institutions have to constantly evolve their technology offerings and the way they deliver their business. That is why Plus500 is definitely an excellent choice for investing in the markets. Try it out here.
Plus500 is accessible and its platform, according to customer feedback, seems easy to use. It is important to research all the information there, including background information on how to trade.
The immediate accessibility of platforms like this does not mean that CFD trading should be taken lightly. Even if things are done simply and virtually with one click, the money spent is real and there is always an element of risk with any trade. Before making a decision, solid research should be done on issues such as minimum deposit, spreads, commissions and risks.
Traditional methods of trading stocks and shares are still the mainstay of the financial world, but even these are being carried out with more technological means that are constantly being improved.
We live in an increasingly digital world, i.e. things that previously seemed unattainable and can now be done by anyone, at any time, anywhere in the world.
Frequently Asked Questions
The minimum deposit of Plus500 is required by the broker to start trading with real money and minimum liquidity. In fact, even if it is possible to carry out operations with less than 100 euros, it is always good to have certain liquidity in order not to run into the so-called margin calls.
The money you deposit is absolutely yours.
You can do so using the demo account.