Plus500 Minimum Deposit
If you want to start trading with Plus500, then knowing about the Plus500 minimum deposit is an important question to debate on. As a new trader, you need to know how much you should invest to begin a successful trading career.
Plus500 is a top leading broker which is used by millions of traders from all over the world. It offers different assets to start trading on, such as stocks, Forex, indexes, CFDs, and cryptocurrencies.
What is the Plus500 minimum deposit?
You can start trading with Plus500 by simply opening positions in the financial instruments. Each instrument has its own unit amount.
If we talk about the minimum Deposit of Plus500, it is EUR 100 for most payment methods. This includes credit cards, debit, and electronic wallets. Additionally, the minimum deposit for a bank transfer is EUR 500!
The broker does not charge their customers for the deposits, and it won’t affect any charges against the traders.
|Base Currencies||EUR, USD, AUD, ZAR, GBP, and more|
How can you deposit on Plus500 as a beginner?
To deposit with Plus500, you must first complete the registration process on the Plus500 website. Then, click on the “deposit” option on the left side of the app if you’re new to the registration process.
Upload a photo of the back and front of your identity card. Then, if the team approves your account, you can deposit with a bank transfer, credit card, or PayPal. Enter the amount which you want to deposit and confirm your deposit.
Does Plus500 charge any deposit fees?
Plus500 does not charge any deposit fees. As a result, brokers will save some money that might otherwise be deducted as deposit fees.
Plus500 will charge a small fee during the currency conversion process. In addition, you will be charged a withdrawal fee of $6 if you withdraw your funds via bank transfer.
Currencies available in Plus500
Plus500’s broker platform supports three major currencies, namely GBP, USD, and EUR. A trader is allowed to deposit their money with any of these three currencies.
If you are in Europe and your account is set up with trading in EURO, you can make your transactions in €100 instead of using the currency of US Dollars.
Occasionally, you may feel the need to use a currency that the broker does not support. In that case, currency conversion is necessary. But the trader has to pay a small fee to Plus500 for currency conversion.
List of methods available for depositing with Plus500
Brokers can make deposits using the following payment methods:
- Bank/Wire Transfer, i.e., Visa or MasterCard
- Credit/Debit Card
- Electronic/ Online Wallets, i.e., Skrill or PayPal only.
All the methods mentioned above have different transfer times. Out of all these methods, bank wire transfer takes a maximum of 3 days to complete the deposit or withdrawal process.
In comparison, electronic wallet transfer and credit/debit card methods are quick and instant in processing.
Plus500 minimum deposit vs other brokers: Comparison table
In the below table, we will compare the minimum deposit details of Plus500 with other top leading forex brokers:
|Number of deposit methods||7||10||11|
What is meant by a deposit bonus?
Similarly to the rest of the brokers, Plus500 also offers some bonus offers to benefit new traders. On the official website of Plus500, you can find detailed information about the promotional bonus of deposit offered by Plus500.
The first deposit bonus from Plus500 is available for traders regulated in Singapore and the Global Market Area. With a minimum deposit of $300, traders can easily access this bonus. You can even choose to avail this great bonus if you deposit a maximum amount of $75,000. The bonus amount will start from $80 and can reach a maximum of $13,000 in some cases.
One primary element of the Plus500 bonus is accessible to all those traders who have reached excellent trading goals. It can also be availed by those brokers who have crossed a certain number of TraderPoints in their trading.
Once brokers reach their targets, they can instantly avail this excellent bonus opportunity.
Additionally, the bonus has an expiration date. If the broker cannot reach specific trading targets within the period of 90-days of their First deposit, the bonus will expire the next day.
Pros and cons of Plus500
- No deposit fees
- Minimum deposit amount
- Payment methods are limited
- Deposit currencies are limited
Plus500 minimum deposit: FAQs
1. What is the minimum deposit for Plus500?
US Dollar 100 is the minimum deposit for Plus500.
2. Which methods allow you to deposit in the Plus500 account?
Different deposit and withdrawal methods available at Plus500 are:
- Bank Wire Transfer
- Debit/credit cards
3. Are there any withdrawal fees at Plus500?
Plus500 has a withdrawal fee based on the account type and payment method you have chosen. For instance, if you are making a withdrawal through a bank transfer, a fixed fee of $6 is charged.
4. What is the minimum withdrawal processing time?
This generally depends on your payment method, which can impact the time duration as well. For example, credit/debit cards and e-wallets will instantly complete the process, but bank wire will take a few days.
The Plus500 broker platform is a safe and regulated broker that provides you with an easy and safe way to start trading. In addition, the payment information which you enter when making any minimum deposit is always protected.
This platform is licensed by several financial institutions. They have legal rules that protect traders from scams and fraud. Visit the Plus500 website now and start trading by opening your account.
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Heinrich is a forex and CFD enthusiast with a passion for writing good informative quality content. He strives to showcase the best forex brokers in Africa. Join him on his Journey!
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