Plus500 Minimum Deposit: Key Information & Guide (2023)
Plus500 requires a minimum deposit of $100 for their retail CFD account.
No commissions on deposits and withdrawals are charged by Plus500 to their clients, and they offer a huge range of account base currencies.
Find all the info about Plus500 minimum deposit by keeping reading.
|Features||Plus500 Minimum Deposit|
|Plus500 Retail Account||$100|
|Plus500 Professional Account||$100|
|Account base currencies||USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, ZAR, SGD|
(77% of retail CFD accounts lose money)
If you want to know more about the account types provided by the broker, you can proceed to read our Plus500 account types guide.
Account Base Currency
As a trader, you will likely already be aware of what a base currency is and how they can make your life as a trader more convenient.
As a trader at Plus500 you can have access to a range of currency to select from as your base currency. These include every major currency pair available. The majority of currencies to correspond with that of your location are available. This availability also extends to the ZAR in South Africa as a base.
There are just a some exceptions to this as in the case of Indonesia. In fact, IDR currency is not accepted as a base currency even though the broker is available and regulated there. They make up for this fact by offering the Singapore Dollar as an alternative.
As you would expect from a major broker like Plus500, there are a range of deposit methods available for you to choose from. These are not dependent like some brokers on the area where you are regulated, but instead by the country which you live in.
Wire transfer deposit is of course available with Plus500. This is one of the standard deposit methods that you would always anticipate being available from any level of broker. In the case of Plus500, no fee is charged from the broker side, but there is the possibility of a fee coming from your bank. This is something that you will need to confirm with them prior to making your deposit.
The minimum Plus500 deposit that is acceptable if you are making a wire transfer deposit, is $500.
It can be said that when compared with some others in the industry, this is a relatively high minimum deposit, although, with no fees, it can be acceptable if you are a higher volume trader.
Credit or debit card deposits through Plus500 are another prerequisite that we expect to be available, and indeed they are. Both Visa and Mastercard deposits are accepted. Again, there are no fees at all from the Plus500 end when you make a deposit using your credit or debit card.
Using this method, the minimum Plus500 deposit is a much more reasonable $100.
This is very much in line with what we would consider as an industry standard when talking about minimum deposit amounts.
Plus500 eWallet deposits are available and popular with traders of today. These deposit methods include both Skrill and Paypal, among the others.
There is one particular stipulation here in regard to using Skrill as a Plus500 deposit method. That is this method is only available from your second deposit. It is not available for the first deposit. No such stipulation is in place for Paypal deposits.
With both of these eWallet deposit methods, the minimum Plus500 deposit that is acceptable is $100.
This falls in line with some of the more affordable minimum deposits available in the industry. As with other deposit methods, again here, there are no fees levied on these eWallet methods from the broker side. Check the image below to find
How to fund into your Plus500 Account
Follow these simple steps to open a Plus500 account and proceed to deposit.
- If you are a new trader in the industry or if this is your first time dealing with Plus500, a great place to start is to visit the broker and open a demo account. This is a good opportunity to trade without any risk using virtual funds. If you feel ready, however, you can go ahead and open a live account right away. Plus500 offers only one retail account.
- Once you have selected your account, it is mandatory to verify it to start trading. For this process, you will need to provide identification, such as an ID card or passport, and a copy of a utility bill or bank statement to verify your residency. These documents can be quickly uploaded online.
- After verifying your account and completing the initial login, you will be ready to deposit by following the simple steps guided by the broker. You can choose from a number of available deposit methods mentioned above. Remember that Skrill is not available as a method for your first deposit, but will be available from your second deposit.
- Once the deposit is completed, all you have to do is wait for it to be processed. The time it takes depends on the method used. Most methods could take up to one business day, although bank transfers could take 2 to 5 business days.
Plus500 Minimum Deposit vs Other Brokers
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
|Number of Deposit Methods||10+||10||11|
|Account Currencies||USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, ZAR, SGD||USD||USD, EUR, GBP, JPY, AUD|
About The Author
Online Broker For You