Plus500 Minimum Deposit And Payment Methods

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One of the first things you’ll do when you want to start trading Forex is find the right broker that has all the features you need. This means you’ll typically look at things like the currency pairs it offers, how easy its trading platform is to use, and whether it's regulated.

Another thing you should consider is the broker’s minimum deposit requirements. Ideally, you’ll need to consider a broker that has a minimum deposit requirement that fits your needs and budget. Moreover, the broker should offer payment methods that make it easy and convenient for you to deposit funds into your trading account.

With that in mind, we’ll now look at Plus500’s minimum deposit requirements and its deposit methods in more detail.

What is Plus500’s Minimum Deposit Requirement?

Apart from its demo account, Plus500 only offers one type of trading account for individuals and offers no accounts for corporate clients. Here, the Plus500 standard account minimum deposit to start trading is $100.

Plus500 Minimum Deposit vs Competitors

With that in mind, let’s look at how Plus500 compares to its competitors when it comes to its minimum deposit requirements.

Plus500 AvaTrade Admiral Markets
Minimum Deposit $ 100 $ 100 $ 100

Plus500 Minimum Deposit in South Africa

For South African traders, the minimum requirement stays $100. This means that these traders will need to convert this amount into South African rand according to the prevailing exchange rate at the time of making the deposit.

Plus500 Deposit Methods and Fees

Plus500 offers the following payment methods to clients:

Debit and credit cards (only Visa and MasterCard backed cards).


Electronic wallets (PayPal and Skrill)


Direct bank to bank transfers.


When it comes to payment methods, there are a few important things to keep in mind. For one, the payment methods available to you will depend on the region where you are. Secondly, every payment method has its own minimum deposit requirement. So, it’s best to first make sure from your Plus500 client area what payment methods are available and how much their minimum deposits are.

Let’s now look at how Plus500 compares to some of its competitors when it comes to payment methods.

Plus500 Deposit Methods vs Competitors

Plus500 AvaTrade Admiral Markets

Bank Transfer

Yes

Yes

Yes

Debit/Credit Card

Yes

Yes

Yes

Payment Apps

Yes

Yes

Yes

Cryptocurrencies

No

No

No

Plus500 Deposit Fees

Generally, Plus500 doesn’t charge any deposit and withdrawal fees. There could, however, be some fees involved for certain transactions. This will, for instance, be the case for international debit and credit card transactions, bank transfers, and transactions in a currency that’s not supported by the platform.

How long Does it Take to Deposit Money on Plus500

How long it takes to deposit money into your Plus500 trading account depends on the deposit method you use. Here, for:

Debit and credit card deposits, the deposit will be instant but it can take up to a few hours.


Electronic wallet deposits, the deposit will be instant but can take up to a few hours.


Deposits using direct bank-to-bank transfers, the deposit can take anything from two to three days.


Plus500 Account Currencies vs Competitors

Plus500 offers several account currencies you can use when depositing money. When you open your account, the default currency will be set based on your region but the platform also offers other currencies. These are USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, and SGD.

A major benefit of having a large variety of account currencies, is that you’ll likely be able to deposit in your preferred currency. It’s important to note that, if you deposit funds in a currency other than one of the platform’s currencies, you’ll lose some of your money due to the currency conversion.

Let’s now look at how Plus500 compares to its competitors when it comes to account currencies.

Plus500 AvaTrade Admiral Markets
Account Currencies USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, and SGD USD, GBP, EUR, AUD, ZAR, and CHF EUR, USD, GBP, CHF, BGN, CZK, HRK, HUF, PLN, and RON

How to Deposit Money On Plus500? A Step-by-Step Guide

Let’s now look at the process of depositing money into your Plus500 trading platform in more detail.

The first step is to go to the Plus500 website.

Photo: how to deposit money on Plus500

Photo: how to deposit money on Plus500

On the homepage, you can then click on Login. You’ll then be taken to the Login page where you’ll be able to log into your Plus500 trading account with your account credentials.

Keep in mind, though, if you don’t have a Plus500 account, you’ll need to open one first.

Photo: how to deposit money on Plus500

Photo: how to deposit money on Plus500

Once logged in, you’ll go to the Funds tab in the main menu to the left.

Photo: how to deposit money on Plus500

Photo: how to deposit money on Plus500

You’ll then click on Deposit. Here, you’ll select your preferred payment method from one of the available options.

Once you’ve selected your payment method, you can fill in the required fields and then click Submit to complete the deposit.

FAQs

When I deposit money into my Plus500 trading account, will my funds be safe?

Yes, your money will be safe. Plus500 is regulated and licensed and the broker has the necessary fund protection measures in place to protect clients’ money.

Can I deposit money using a friend’s debit or credit card?

No, the card you use must be in your name.

Where can I get the banking details to make a deposit by direct bank-to-bank transfer?

To get the details, you’ll need to go to the Funds tab in the main menu in your Plus500 client area. Here, you’ll click Deposit and select Bank Transfer as your payment method. You’ll then need to select Email me the details. Once done, an email containing the banking details will be sent to you.

Is it safe to use my debit or credit card online?

Yes, it is safe if the website or platform you use it on has SSL encryption in place to protect your payment information. Plus500 has these measures in place.

Team that worked on the article

Alamin Morshed
Contributor

Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses who want to improve their Google search rankings to compete with their competition.

Over the past four years, Alamin has been working independently and through online employment platforms such as Upwork and Fiverr, and also contributing to some reputable blogs. His goal is to balance informative content and provide an entertaining read to his readers.

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Olga Shendetskaya
Author and editor at Traders Union

Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.

Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.

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Mirjan Hipolito
Cryptocurrency and stock expert

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.