Plus500 Minimum Deposit

The Plus500 minimum deposit is $100 for its commission-free account, the only one it offers retail traders. The EU-based subsidiary provides a professional alternative featuring identical trading conditions to the retail account for non-EEA traders. Read the more in-depth Plus500 Review.

The Plus500 account type and minimum deposit requirement are:

• CFD (Plus500 minimum deposit of $100, market maker account)

The Plus500 Minimum Deposit vs. other brokers

The Plus500 minimum deposit is $100, and most traders get the same commission-free CFD trading account. EEA-based traders can get a professional option, while Plus500 has introduced a US-only Futures account and a limited-access Plus500 Invest alternative for unleveraged, long-term strategies. The Plus500 minimum deposit remains $100, or a currency equivalent, across the board.

The Pros & Cons of the Minimum Deposit for Plus500

Plus500 Deposit Methods and Deposit Fees

Plus500 notes free deposits, but a currency conversion fee of up to 0.70% applies if a trader makes a deposit in an unsupported currency or settles trades in any currency other than the account base currency. A $100 deposit at Plus500 will result in a $100 credit to the Plus500 trading account if the account base currency is in US Dollars.

Third-party payment processor costs may apply, which Plus500 does not control. Therefore, traders should check potential fees from their preferred payment processor and select the one with the lowest transaction fees. Since withdrawals must follow the deposit path, traders should check Plus500 withdrawal fees, especially from the payment processor to their bank, if such a transaction is necessary.

The Plus500 deposit methods are limited but cover the most basic options. Not all payment processors are available to all traders, dependent on their geographic location.

Plus500 deposit methods vs. similar brokers

Noteworthy:

• Plus500 notes e-wallet transaction times between three to seven business days
• Bank wires and credit/debit cards can take between five to seven business days

Plus500 Deposit Currencies

Plus500 supports a broad range of account base currencies, catering to its international client base. It also allows traders to have multiple accounts in various currencies but does not support cross-account transfers. While Plus500 does not list its deposit currencies, all account currencies are available. All non-supported currencies, if the payment processor allows them, face a currency conversion fee of up to 0.70%.

Plus500 supports the following account base and deposit currencies:

• US Dollar
• Euro
• British Pound
• Swiss Franc
• Australian Dollar
• Japanese Yen
• Polish Zloty
• Hungarian Forint
• Czech Koruna
• Canadian Dollar
• Turkish Lira
• Swedish Krona
• Norwegian Krone
• South African Rand
• Singapore Dollar

Most traders are likely to use US Dollar accounts, as the US Dollar is part of over 85% of all daily Forex trading volume. Plus500 levies a currency conversion fee on all profits and losses if trade settlement is in any other currency than the account base currency.

Traders may open a multi-currency account with an online or brick-and-mortar bank, where transaction and conversion costs plus exchange rates are usually notably better versus online payment processors to avoid currency conversion fees on deposits.

Plus500 trading account currencies vs. similar brokers

Steps of Sending the Plus500 Minimum Deposit

The secure back office of Plus500 manages all financial transactions. Verification is mandatory to pass AML/KYC requirements as stipulated by regulators and only verified clients may request withdrawals. Most traders will pass verification after uploading a copy of their government-issued ID and one proof of residency document dated within the past three months.

Here is how Forex traders can send their Plus500 minimum deposit:

1. New traders must register for a trading account by filling out the online application. Plus500 has one of the fastest procedures and only asks for an e-mail address and desired password. It also allows traders to use Google, Facebook, or Apple account to complete the first step, which grants access to the secure back office.

2. Passing mandatory verification by uploading a copy of a government-issued ID and one proof of residency document completes the registration process.

3. Verified traders can log into their trading account and navigate to the "Funds" tab in the left sidebar menu, where they can access the deposit page. All available deposit methods remain visible, and traders can select their preferred payment processor, type the amount, and fill out any necessary details to complete the Plus500 minimum deposit. Some payment processors will redirect to their page and ask users to log into their account and confirm the transaction.

4. Some deposits are nearly instant, while bank wires can take up to seven business days. Plus500 will send an e-mail once its finance department receives funds and credits them to the trading account. The payment processor will also list the transaction in its payment history.

How Does the Minimum Deposit for Plus500 Work?

The Plus500 minimum deposit ensures that the trading account supports the minimum transaction sizes and that the revenues Plus500 earns from spreads are sufficient to maintain operations. It is common among all financial institutions that provide account services to clients. The minimum deposit for Plus500 is $100 or a currency equivalent for all traders, rather than a multi-tier system that unlocks better trading conditions for higher minimum deposits.

Forex brokers often provide the most basic services for the lowest minimum deposits and upgrade the competitiveness of their trading environment for higher capital commitments by clients. Plus500 treats all clients equally, which benefits smaller retail traders.

Some Fore brokers eliminated minimum deposit requirements due to intense competition. They rely on their distinct competitive edge to attract clients and trading volumes to benefit from scale, offering most clients their most competitive trading conditions without demanding higher minimum deposits.

FAQs

Is Plus500 a good broker?

Plus500 offers manual CFD traders a competitive commission-free trading environment from a well-trusted source. It primarily acts as an execution-only broker and executes well with one of the cheapest commission-free cost structures.

What is the minimum deposit for Plus500 in South Africa?

The minimum deposit for Plus500 is $100 or a currency equivalent, which depends on the up-to-date USD/ZAR exchange rate for South African traders. It is approximately ZAR 1,620 at the time of this review.

Is Plus500 beginner friendly?

Plus500 added a Trading Academy, where traders get an introductory education course. It also provides market commentary and alert services for three types of events, making it an acceptable choice for beginners.

What is the minimum deposit for Plus500?

The minimum deposit for Plus500 is $100.

By DailyForex.com Team

The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.