Plus500 Withdrawal Explained
Traders encounter most broker-related problems with withdrawals, which many negative reviews confirm. Profitable traders require a trustworthy broker with fast processing times and reliable execution. Up to 90% of retail traders never ask for a withdrawal, as they manage portfolios at a loss. Plus500 reports a retail loss rate of 80% of retail CFD accounts lose money and is a trusted online broker that honors each withdrawal request.
Our in-depth Plus500 minimum withdrawal review offers a Plus500 withdrawal guide, and we discuss withdrawal methods, processing times, and fees. Learn why 23M+ traders trust Plus500 and its withdrawal process. Additionally, you can study our Plus500 broker review.
How to Withdraw from Plus500?
The user-friendly Plus500 back office manages all financial transactions, which look and feel like online banking systems. Withdrawing funds should be as simple as depositing, and most brokers follow well-established industry standards. Notable differences exist in available withdrawal methods, internal processing times and fees, or supported currencies. Plus500 supports bank wires, credit/debit cards, Skrill, and PayPal, but geographic restrictions may apply and the Plus500 withdrawal screen only lists the ones available to traders based on individual circumstances. Plus500 notes localized options but does not detail them anywhere.
Traders must consider the trustworthiness of their broker, this is where Plus500 ranks highly, internal processing times are slow at Plus500 and withdrawal fees, which depend on the circumstances outlined in our withdrawal fees section. Plus500 supports many account base currencies but does not provide a transparent list, but the USD, GBP, EUR, CHF, AUD, JPY, PLN, CZK, CAD, HUF, TRY, SEK, NOK, and SGD are among the supported currencies. Should the Plus500 account base currency differ from the payment processor, Plus500 will levy a currency conversion fee of up to 0.70%.
Plus500 requests that clients request their Plus500 minimum withdrawal via the payment processor used to make a deposit. The Plus500 minimum withdrawal is $100 for bank wires or credit/debit cards and $50 for Skrill and PayPal. Internal processing times range between one and three business days, making Plus500 one of the slowest withdrawal brokers. Traders may wait up to seven business days for their funds to arrive, depending on their payment processor and geographical location.
Plus500 Withdrawal Option | Availability |
|---|---|
Bank wires | Yes |
Credit/debit cards | Yes |
e-wallets | Yes |
Cryptocurrencies | No |
Internal withdrawal fees | Dependent on circumstances (third-party and currency conversion fees may apply) |
Steps for Requesting the Plus500 Minimum Withdrawal
The user-friendly and secure Plus500 trading platform manages all financial transactions, including any Plus500 minimum withdrawal. In compliance with global AML regulations, the name on the payment processor must match the name of the Plus500 trading account, and only verified trading accounts may request a withdrawal.
Below are the Plus500 withdrawal steps:
1. Log into the Plus500 back office using your e-mail and password. You can also use your Google, Facebook, or Apple ID.
2. Click on “Funds” in the left-hand menu, which opens the “Funds Management” menu, and select “Withdraw.”
3. The withdrawal menu lists all available payment processors in the top menu. Select the one used for making a deposit, specify the withdrawal amount (make sure you have sufficient free margin to cover your Plus500 withdrawal and consider the $50 to $100 minimum withdrawal amount), and click “Open a Withdrawal.”
4. A pop-up on the next screen confirms the Plus500 withdrawal submission. Plus500 may conduct a security check and ask for additional information. Clients receive a confirmation within the trading platform.
5. Internal processing times between one to three business days. It can take up to seven business days for clients to receive their funds, depending on the payment processor and the geographic location. Plus500 will notify clients once they complete the withdrawal request, and the payment processor also sends a message once the funds arrive.
Plus500 withdrawal statuses:
Plus500 has four withdrawal statuses, and clients can follow the process inside their trading platform under “Funds Management” by clicking “Monetary History.”
The four Plus500 withdrawal statuses are:
- Requested – Plus500 received the withdrawal request
- Approved (In progress) – Plus500 authorized the withdrawal but has not sent the funds to the payment processor
- Approved Sent – Plus500 has sent the funds to the payment processor
- Approved Settled – Plus500 has completed the withdrawal process, but funds may be in transit, and clients have yet to receive them
Plus500 Withdrawal Methods – How to Withdraw Your Money
The Plus500 withdrawal methods are bank wires, credit/debit cards, Skrill, Neteller, and Paypal. Other options may exist for traders from select jurisdictions, as Plus500 mentions multiple global payment methods without providing details. The secure and user-friendly trading platform, which lists every payment processor a client may use, manages all financial transactions for verified clients, including the Plus500 minimum withdrawal.
Plus500 supports the following withdrawal options:
- Bank wires (domestic and international)
- Credit/debit cards
- Skrill (geographically restricted)
- PayPal (geographically restricted)
The Plus500 minimum withdrawal is $100 for bank wires or credit/debit cards and $50 for Skrill, PayPal, or other e-wallets.
Withdrawal Methods - Which Payment Methods are Available for the Withdrawal?
Verified traders can request a Plus500 withdrawal via bank wires or credit/debit cards, which are available to all Plus500 clients. Depending on the geographic location of traders, e-wallets like Skrill and PayPal are available, and Plus500 notes multiple global payment methods. Unverified sources claim PayNow availability in Singapore, POLi in Australia, and Google Pay for mobile traders. The fund management section of the trading platform will list all available payment processors, and Plus500 requires traders to request a withdrawal via the same methods used for deposits.
Plus500 Withdrawal Fees
Brokers usually offer commission-free deposits, but withdrawals, especially bank wires, may incur third-party payment processing costs. Traders should check their preferred payment processor for a detailed breakdown of potential costs, which Plus500 does not control.
Traders should also check fees levied by their payment processor to the destination of funds if they plan to use their Plus500 account like a checking facility for paying bills or general consumption. It will provide a complete cost picture and allow traders to calculate the most suitable and cost-efficient option.
Below are the Plus500 withdrawal fees for each withdrawal method (excluding third-party costs and currency conversion fees):
- Bank wires - $6, the Plus500 minimum withdrawal is $100 or a currency equivalent,
- Credit/debit cards - $0, the Plus500 minimum withdrawal is $100 or a currency equivalent
- Skrill - $0, the Plus500 minimum withdrawal is $50 or a currency equivalent
- PayPal - $0, the Plus500 minimum withdrawal is $50 or a currency equivalent
The following Plus500 withdrawal fees apply if:
- $10 if traders require more than five withdrawals per month
- $10 if traders request a withdrawal amount below the minimum
- $10 if traders make a withdrawal request to another source than used for the deposit
- Currency conversion fee of up to 0.70% if the Plus500 account base currency differs from the payment processor currency
The average withdrawal time for the Plus500 withdrawal methods (excluding internal payment processor times, which range between one and three business days):
- Bank wires - Five to seven business days
- Credit/debit cards - Five to seven business days (Bank dependent)
- Skrill - Three to seven business days
- PayPal - Three to seven business days
Plus500 supports the following withdrawal currencies:
- Bank wires - All fiat currencies
- Credit/debit cards - All fiat currencies
- Skrill - USD, EUR, GBP, and potentially others
- PayPal - USD, EUR, GBP, and potentially others
Noteworthy:
- The USD, GBP, EUR, CHF, AUD, JPY, PLN, CZK, CAD, HUF, TRY, SEK, NOK, and SGD are known Plus500 account base currencies and traders will pay up to 0.70% currency conversion fees for other currencies, for example, withdrawing to an HKD-denominated account
Withdrawal Time - How Long Does It Take for the Withdrawal?
Internal withdrawal processing times are between one and three business days. Depending on the payment processor and geographic location, traders may have to wait for up to seven business days for traders to receive their Plus500 withdrawal. Bank wires and credit/debit cards take longer than e-wallets, which usually feature near-instant processing times, while Plus500 lists them as three to seven business days.
Withdrawal Issues and Delays in Payment
Plus500 takes one to three business days to process a withdrawal request as it conducts security checks and verifications. The process can delay withdrawals, and in some cases, issues may arise.
Some of the most common Plus500 withdrawal issues and delays in payment are:
- The one to three days for Plus500 to authorize a payment (delay)
- Up to seven business days for funds to arrive (delay)
- Clients request a different payment processor for the withdrawal than for the deposit (delay)
- Plus500 account verification incomplete or outdated (issue)
- Insufficient free margin (issue)
- Name on the payment processor does not match the name on the Plus500 trading account (issue)
- Withdrawal limits for some payment processors (issue)
- VPN usage or unauthorized account activity (issue)
Plus500 Minimum Withdrawal Bottom Line
Plus500 offers five free withdrawals monthly and levies $10 for additional requests. A currency conversion fee of up to 0.70% exists, a $6 bank wire fee may apply, and traders pay a $10 fee if they request a withdrawal below the minimum. Making a withdrawal request to a different payment processor than the one used for a deposit causes delays and an additional $10 fee. The Plus500 minimum withdrawal is $100 for bank wires or credit/debit cards and $50 for e-wallets. Traders should also consider potential third-party payment processing costs.
All traders can use bank wires and credit/debit cards, while e-wallets have geographic restrictions. The fund management section of the trading platform will list all available payment processors. Internal processing times range between one and three business days, and traders may have to wait for up to seven business days for funds to arrive. The required margin to trade at Plus500 is the necessary capital to open and maintain positions and varies by asset and time. Overnight funding, or swap rates, at Plus500 apply for leveraged overnight positions if clients keep them open past the cut-off time. Swap rates triple on Wednesday to account for trades kept open over the weekend. Closing positions before 5 p.m. EST allows traders to avoid swap rates if it suits their trading strategy. All traders can use bank wires and credit/debit cards to withdraw from Plus500, while e-wallets have geographic restrictions. The Plus500 minimum withdrawal is $100 for bank wires or credit/debit cards and $50 for e-wallets. To withdraw all your money from Plus500, close all open positions. Once funds settle, which can take up to three business days, you can make a withdrawal request for the entire balance. Internal withdrawal processing times are between one and three business days, and it can take an additional three to seven business days for traders to receive their Plus500 withdrawal. Plus500 charges no withdrawal fees for up to five monthly requests, but an up to 0.70% currency conversion cost may apply. Traders may incur a $6 bank wire charge and pay $10 if they request more than five monthly withdrawals, place a request below the minimum withdrawal amount, or use a different payment processor than used for the deposit. Plus500 is a trusted broker, publicly listed in the UK, and honors withdrawal requests once they pass verification.FAQs
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