PLUS500 WITHDRAWAL GUIDE- HOW TO WITHDRAW FUNDS

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12 min read/Updated: 06.08.2020

Have you made some trading profits and are looking forward to withdrawing them? Well, in this guide, we’ll go through a step by step approach to withdrawing funds from Plus500. You can also browse through the guide to understand the various fund withdrawal methods permitted by the broker and choose the most straightforward option. Lastly, we address some of the frequently asked questions about fund withdrawals. So, let’s get started!

HOW TO WITHDRAW FUNDS FROM PLUS 500?

The fund withdrawal procedure at Plus500 is pretty straightforward

  1. To withdraw funds, log in to the client area and select the ‘WITHDRAW’ option.

 Plus500 withdraw options

  1. Select the withdrawal method

Select the plus500 withdrawal method

  1. Enter the amount you wish to withdraw and click on ’Open a withdrawal.’

enter the amount you wish to withdrawal from plus500

  1. Look for the following confirmation message

plus500 withdrawal confirmation

  1. Go to the ‘Monetary History’ to confirm that your withdrawal is successfully processed. That’s about it; the withdrawal process is complete.

plus500 withdrawal processed

On the withdrawal screen, Plus500 highlights the minimum withdrawal amount for each type of payment method. Withdrawal requests below the minimum prescribed threshold could incur charges.

Plus500 sends withdrawal payments to the same source from where the deposits originated. For instance, if your deposit were via a visa card, Plus500 would process the withdrawal request to the same card.

WHAT ARE THE VARIOUS WITHDRAWAL METHODS AT PLUS500?

Plus500 offers the following fund withdrawal methods.

  • Bank transfer- Paypal, Skrill
  • Credit cards
  • Electronic Wallets

WHAT ARE THE VARIOUS WITHDRAWAL STATUSES AT PLUS500?

Plus500 processes withdrawal requests within one working day. But during this period, your fund payout request goes through four stages, which we have highlighted below. You can also follow the withdrawal phase from Funds Management—–Monetary History.

Stage-1: Requested- Indicates that you have requested for a fund withdrawal from your trading account. At any point, you can cancel the withdrawal request from Funds Management—Monetary History—Cancel Withdrawal.

Stage-2: Approved (in progress)- Withdrawal request authorised by Plus500 but the funds yet to be transferred to the payment processor.

Stage-3: Approved Sent- Plus500 has completed the fund transfer to the relevant payment processing authority.

Stage-4: Approved Settled- This is an indication that the withdrawal process is complete. Depending on the payment processor, you would receive the funds anytime.

HOW LONG DOES IT TAKE TO WITHDRAW MONEY FROM PLUS500?

Plus500 processes all withdrawal requests within one business day. However, the time taken for the cash to reflect in your bank account or card would depend on the payment processor.

WHAT ARE THE CHARGES TO WITHDRAW FUNDS FROM PLUS500?

Plus500 does not charge for fund withdrawals. However, the CFD broker reserves the right to charge a fee if clients exceed the maximum number of monthly withdrawals. Besides, you could incur a charge from your payment processor or bank for incoming/outgoing bank transfers, international credit card transactions and transactions using an unsupported currency (forex conversion charge).

DOES PLUS500 COVER MY PAYMENT PROCESSING FEES?

Plus500 pledges to cover a majority of the payment processing fees that you may incur while transferring funds to and from the broker.