Plus500 requires a minimum deposit of $100 or ZAR1500 to get started. Depending on different payment options, it takes anywhere from instant deposits to 7 working days to complete the deposit process. The broker does not charge any fees for deposits. Transactions done during weekends are processed on coming Monday.
Read: plus500 review
This broker allows its clients to choose from 15 base currencies: USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, ZAR, and SGD. Unlike other CFD brokers, Plus500 supports major currencies and several minor currencies, which is a plus point.
Once you have selected a base currency, say USD, all deposits made from anywhere in the world are converted and visible in your account in USD. The conversion rate from your local currency to your account’s base currency applies while depositing, so keeping an eye on the conversion rate might help you calculate how much local currency is required for a deposit in your Pepperstone account’s base currency.
Plus500 only offers one type of account for all its clients. Furthermore, It offers only its web trading platform and does not provide MT4, MT5, or other platforms. On its proprietary platform, Plus500 forbids hedging and scalping, as well as copy trading.
This broker offers limited payment options. Clients from all over the world can choose from these payment options and make deposits. However, the minimum deposit requirement remains the same at $100 for all payment options.
1. Bank Transfers
The bank-to-bank transfers method can be used to deposit funds into your Plus500 account.
2. Credit/Debit Cards
Debit/Credit cards – only Visa or MasterCard debit/credit cards are acceptable (there may be further limitations depending on your region).
3: Alternatives (E-wallets)
Plus500 allows deposits from two types of E-wallets only:
|Payment Option||Min. Deposit||Fees||Processing Time|
|Bank Transfer||$100||No Fees||2-7 working days|
|Master Card||$100||No Fees||Instant|
|Visa Card||$100||No Fees||Instant|
How to Deposit
When you complete registration for an account with Plus500, you need to activate your account before making your first deposit and starting trading. To activate your account, you need to verify:
1. Proof of Identity
A government-issued identification document (ID) that contains all of the following information:
- Identity number
- Full name
- Date of birth
- Date of expiry
2: Proof of Address
A residential verification document displaying your full name and address is required. The residential verification document should be issued by a financial institution, utility company, government agency, or judicial authority and can be one of the following:
- Bank statement
- Credit/debit card statement
- Electricity bill
- Water or gas bill
- The council tax bill
- Tax letter
- Phone bill
- Television services bill
- Internet bill.
Just go to your “account” from the dashboard and then the “verify account” tab. There you can follow the instructions to verify your documents.
After verifying documents and activating your account, you can deposit funds to start trading.
Follow these easy steps to deposit:
- Step 1: Go to the “Funds” tab from the client area
- Step 2: Go to “Deposit”
- Step 3: Select the payment option you wish to choose for depositing funds
- Step 4: Fill in the details required and follow the instructions
- Step 5: Click “make a deposit”
Sign Up Bonuses
Plus500 is listed on the London Stock Exchange and regulated by FCA, ASIC, CySEC, MAS, FMA, and FSCA. Therefore, It has to separate its client funds from its operational capital and cannot offer any type of bonuses or promotions.