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Plus500 Withdrawal Guide – How To Withdraw Money

Analyst Team trader
Updated 1 Dec 2022

79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

As a trader, you will inevitably wish to trade with a broker that provides a swift and efficient means of accessing your capital. As such, in this guide, we’ll take a look at the basics of Plus500’s withdrawal process and some key information you need to be aware of.

Plus500 Withdrawal Guide – How To Withdraw Money

Contents

How Do I Withdraw Money From Plus500?

how to withdraw money from plus500
*Illustrative prices

79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Here’s how to withdraw money from Plus500:

  1. Click the ‘Menu’ hamburger button (≡) in the top left-hand corner
  2. Select ‘Withdraw’
  3.  Choose your withdrawal method
  4. Enter the amount you want to take out
  5. Click ‘Open a Withdrawal’ to finalise the removal of funds

Once you’ve completed these steps, a pop-up window will appear informing you that your withdrawal request was submitted successfully. Once you’ve opened a withdrawal request, it will go through several stages:

  • Requested – Your request has been received and is waiting to be processed
  • Approved (In Progress) – Withdrawal has been authorised by Plus500
  • Approved (Sent) – Funds have been sent to your selected payment method
  • Approved (Settled) – Withdrawal process is complete, subject to clearing delays

You can check the status of your withdrawal in ‘Monetary History’ section of your account:

plus500 monetary history

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Plus500 Withdrawal Methods

plus500 withdrawal methods

Plus500 offers several withdrawal methods to choose from. You can make a withdrawal by:

  • Credit/Debit Card (Visa & Mastercard)
  • Bank Transfer
  • e-Wallets (Skrill & PayPal)

You’ll notice that Plus500 provides the minimum withdrawal amount for each method.

Related:  Plus500 Review

Plus500 Withdrawal Time

Withdrawal time varies from 3-7 business days depending on your payment method and the processing time of the third party remitter. Plus500 processes withdrawal requests within 1-3 business days, during which time it performs security checks before verifying your withdrawal request.

As a regulated broker, Plus500 must legally perform these checks to keep your account safe and ensure your money doesn’t end up in the wrong hands.

Approximate withdrawal times:

  • Electronic Wallets – 3-7 business days
  • Bank Transfer – 5-7 business days
  • Credit/Debit Cards – Varies according to your bank’s processing time

Plus500 Withdrawal Fees

Plus500 does not charge any withdrawal fees. However, there are some scenarios where you will be charged a fee:

Minimum Withdrawal Amount

Plus500 charges no fee for any withdrawal requests that are less than the minimum threshold. You can find the minimum amount for each payment method on the withdrawal screen of the trading platform.

Maximum Withdrawals Per Month

You can make a maximum of five (5) withdrawals each month. If you make more than five withdrawals, Plus500 may charge you $10 (or currency equivalent) for each subsequent withdrawal over the maximum amount. Put simply, don’t make a withdrawal more than five times each month.

Related:  Plus500 Fees: What To Expect


79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Conclusion

As a new trader, choosing the right broker can be a tedious process. However, if you are looking for a broker with low trading and non-trading fees, Plus500 may be the right fit for you. Plus500 allows users to have five free withdrawals monthly, in which $10 will be incurred for a withdrawal that exceeds the limits.

Regulated by several financial authorities globally, including the UK’s FCA, and is listed on the London Stock Exchange, Plus500 is a good broker and is recommended for those who are keen to start trading on CFDs. With a great, easy-to-use platform, low trading and non-trading fees as well as competitive spreads, you should give Plus500 a try.

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The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.