Plus500 Withdrawal: Straightforward Service with Competitive Rates

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10 min read minutes read/Updated: 15.05.2020

Founded in 2008, Plus500 has striven to make the market more accessible than ever, and it shows in the steady growth of its customer base. With a home base in Israel and subsidiaries in the UK, Cyprus, Australia, Singapore and Bulgaria, Plus500 enjoys a global standing and notoriety thanks to the products it is able to offer. Because there are multiple ways to access the Plus500 platform, it is straightforward to stay on top of your trades, and the Plus500 withdrawal process for your money is even easier because you can request funds anytime, anywhere.

  • A worldwide platform available on the go
  • The Plus500 safety priorities
  • Working better, not harder

Info: A trader with a Plus500 account can trade CFDs on underlying financial instruments such as Forex, Stocks, Crypto currencies, Commodities, Options and Indices.
80.6% of retail investor accounts lose money when trading CFDs with this provider.

A World of Marketplace Access from Wherever You are

As a proven leading CFD broker, Plus500 knows what it takes to earn global recognition as best broker. Plus500’s comprehensive trading platform allows market access to an abundance of financial markets, such as EFTs, market indices, stocks, Forex and even growing trends like cryptocurrencies with CFDs.

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The intuitive platform is easy to use, and traders love the minimal simplicity afforded by the single trading screen that encompasses all the information you need to make smart and effective trading decisions. The incredible usability of the Plus500 platform extends to every iteration of the platform, from the downloadable version for desktop and laptop computers, to the web-based version and the app available for iOS, Android, Windows and Apple watch. And because the experience on each of these options is designed to be completely seamless, you can use them all comfortably without missing a beat.

In order to service their worldwide client-base, Plus500 offers its service in over 30 languages on all platforms, including mobile options for smartphone and tablet. The hundreds of market options available at your fingertips exceed some of the most comprehensive broker competitors in the industry, but the simplicity of the Plus500 platform and laser-focussed analysis tools built into it mean that trading is easy even for a beginner. Although the knowledge and teaching tools of Plus500 are still under development, their tutorial videos offer support for many of the questions new traders have when starting.

Your Money: Withdrawals on Plus500

You work hard for your money and you have thought long and hard about where to invest it before choosing Plus500, so the company respects its traders for making that choice. That’s why Plus500 is invested in making the withdrawal process as easy as possible because you shouldn’t have to worry about trying to access your money. Plus500 also knows that one of the reasons you chose to trade with them is that you appreciate the level of security they offer –  security that extends to the withdrawal process. For that reason, all Plus500 withdrawal requests are subject to a time window so that your money can be safely released to exactly where it needs to go. A Plus500 withdrawal can be funnelled back to all the same platforms that deposits are accepted from:

  • Bank transfer
  • Debit or credit card
  • Electronic wallets (such as Skrill or PayPal)

The Plus500 website includes tutorial videos on how to start a withdrawal so that you can be as confident getting your money out as you were when you decided to start trading with Plus500. And because Plus500 withdrawal fees are some of the most competitive in the business, you get to keep more of that money for yourself. You can order a Plus500 withdrawal up to five times per month at no charge, and beyond that, each additional request is still cheaper than most broker comparison at the low rate of $10 per withdrawal.

What do People Think of the Plus500 Withdrawal Process?

While most find the process unproblematic, some clients experience Plus500 withdrawal problems. Customers based in certain countries may be subject to Plus500 withdrawal fees of $6 per request to process bank transfer withdrawals. Additionally, customers have reported being charged a $10 processing fee for withdrawal deposits to electronic wallets. However, in a cfd broker comparison Plus500 is on trend with their competitors in regard to the Plus500 minimum withdrawal amounts:

  • Bank transfers: $100
  • Credit and debit cards: $100
  • Electronic wallets: $50

That is not to say that you cannot withdraw less than those amounts from your account. Rather, the incentive for meeting the minimum withdrawal amount is that you are not required to pay any removal fees associated with withdrawing from below the threshold. Should you wish to make a withdrawal lower than the set limit, the request will be undertaken at a fee of $10. In line with the company policy, the Plus500 withdraw money process is designed to be as safe as possible, but security of that calibre comes at a cost. The limitations of the withdrawal process, such as the minimum suggested fee-free thresholds and Plus500 policy to return funds to the same payment method by which they were deposited, does not always garner the most positive reactions from customers in a Plus500 review, but the purpose of the measures is to maximise customer safety and satisfaction.

What to Expect when You’re Withdrawing

Some people find the standard Plus500 withdrawal time of one to three business days inconvenient, but again, Plus500’s primary concern is protecting the security of your withdrawal request. While not all options for withdrawal deposit are available in every single one of the many countries that Plus500 serves, they do offer general guidelines for what customers can expect for the Plus500 withdrawal time on deposits:

  • Bank transfer: the direct bank-to-bank funds transfer should be received by your account within five business days from the time of authorisation of the withdrawal, but may be delayed further depending on the jurisdiction and banking institution
  • Credit and debit cards: deposit time will change in accordance with the policy of each issuer or bank’s refund processing time
  • Electronic wallets (such as Skrill or PayPal): your e-wallet should reflect the deposit amount requested in approximately three to seven days following the authorisation of the withdrawal

There have been reports from some customers that their Plus500 withdrawal request was denied despite meeting the above discussed suggested minimum withdrawal amounts. That sometimes happens if you wish to deposit your withdrawal to a different source than the original deposit –  for example, if your initial fund deposit was by credit card, but you decide to make your withdrawal deposit via bank transfer. The reason that this might cause problems is that it is the policy of Plus500 to safely return deposits to the original fund source whenever possible.

Keeping You and Your Trades Safe

All of the policies discussed above are self-professed safety measures, but Plus500 also has the backing of some of the most trusted and stringent financial protectors recognised by global watchdogs. These regulators include The Financial Conduct Authority (FCA), the Australian Securities & Investments Commission (ASIC) and the Cyprus Securities Exchange (CySEC). Among others, one of the assurances affiliation with these regulatory bodies ensures is the protection of client funds through holding in a segregated bank account and investment protection for clients in the case of failure. Plus500’s backing by industry giants is evidence of their commitment to keeping you and your trades safe, but they also know that safety should start with the trader. That is why the process of opening an account with Plus500 includes a thorough identity check, including residential address verification and a verified funds source. Despite these measures, sign up and verification is quite quick because Plus500 knows that once you make the decision to start trading with them, you don’t want to wait after signing up. Once you are able to start trading, there are many other safety precautions in place to ensure the security of your trades. One such measure is the margin requirements that Plus500 traders must maintain. Should that requirement not be met, the trader risks receiving a margin call wherein their position could be closed prematurely to prevent further loss; one of the Plus500 benefits is that they ensure frontline protection for your trades.

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Gaining Trust Through Reliability

In 2015, Plus500 revealed that in order to carry out more comprehensive identity checks, it had no choice but to freeze thousands of accounts in the UK for a period. This was so that Plus500 could fulfil a regulatory obligation to the UK Money Laundering Regulations, which requires identification and verification of customers as well as their business relationships and fund sources. A complete review of all client information held on the frozen accounts necessitated holds on all new trades within the affected accounts, as well as the withdrawal and deposit of funds (but maintenance of existing open positions was allowed throughout this time). Understandably, customers were frustrated by these limitations, and although Plus500 was ultimately found to be compliant with the MLR regulations, the end result was a sizeable price drop in Plus500 shares. The reason Plus500 was able to weather the storm brought on by media dramatization of this incident was thanks to their commitment to client safety. The delicate nature of the identity verification process meant that communication with affected clients was necessarily limited in order to protect and fully meet the requirements of the MLR, which of course was very difficult with some client relationships. That incident is now safely in the past and Plus500 was able to move on and grow stronger than ever. The experience helped Plus500 to become even more steadfast in its values of safe and fair business practices for all of its many global subsidiaries.

The Plus500 Fee Structure

Committed wholly to simplicity, Plus500 offers only two kinds of accounts: the free demo account and the standard live trading account, which users can toggle between at any time. Again, you do need to complete the Plus500 verification process before you start trading, but that process is similarly straightforward and quick. The fees that Plus500 charge are highly competitive because they’re based on the same underlying financial instruments to which the market is subject. Because Plus500 charges no commission on trades, the fees are bundled entirely into the market spread of each position that clients trade. There are, however, some circumstantial fees that Plus500 utilises in order to facilitate certain services, including: an Inactivity Fee equaling a charge of $10 if the platform is not used for a period of three months, which can be avoided by simply logging into your account periodically; Rollover Adjustments, which allow Plus500 to make changes to trader accounts whenever a futures contract expires in order to facilitate automatic rollover for the next month expiration; Guaranteed Stop Orders, so that a position can be closed at a specified price, which may be subject to a wider spread in order to execute this kind of trade, and Premium Fees or Credits that are either subtracted from or added to trader accounts if positions remain open into the Plus500 overnight period. Plus500 provides the utmost transparency in their fees so that clients can trade free from unpleasant surprises like hidden charges.

Making Your Money Work for You

Plus500 has worked ceaselessly to become a force in the industry. It is true, there have been stumbles along the way, however, the company’s commitment to customer safety and satisfaction are the guiding principles behind the many features which have established it as a top CFD broker. The transparency on services such as the Plus500 withdrawal time and fees demonstrates how they remain competitive in the industry while also achieving high safety benchmarks, and forthright collaborations with globally recognised regulators is part of the reason they are able to gain and maintain the trust of their clients. The superb Plus500 risk management strategies combined with a clean and crisp platform that can be accessed from any device mean that your trading is not only ultra-portable, it’s also ultra-safe. The comprehensive spreads fees that Plus500 utilise mean that customers will never be confronted with surprise commissions at the close of a position. In the end, Plus500 is able to offer its traders a safe yet diverse foothold in the market, with highly competitive fees for its many services.