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You’ve just set up your Plus500 account and you’re ready to fund it and start trading. But then a thought creeps in—what if there are hidden fees? What if I lose money before I even begin? If that sounds like you, you’re not alone.
Knowing exactly what you’ll pay—and how to avoid unnecessary charges—is one of the smartest first steps you can take as a trader. This article breaks down everything you need to know about Plus500’s deposit and withdrawal fees in plain, easy-to-understand language.
We’ll also include real trader experiences, pro tips, and practical suggestions to help you save money and trade with confidence.
No Deposit Fees from Plus500 – But Be Alert to Hidden Costs
Plus500 doesn’t charge any fees when you deposit funds. That’s great news. Whether you’re using a credit card, bank transfer, or an e-wallet like PayPal, there’s no direct fee from the platform itself.
But here’s where things can catch beginners off guard:
Some banks or payment providers may charge you.
This is especially true for:
- International transfers
- Currency conversion (like depositing in USD when your bank uses EUR)
- Credit card cash advance fees
Simple Step Flow to Avoid Deposit Surprises:
- Choose your deposit method inside Plus500
- Double-check if your bank/payment provider charges extra
- Make sure your account currency matches your trading account (if possible)
Pro Tip: If your deposit is in a different currency than your Plus500 account, ask your bank or card provider about their conversion fee. These often range from 1–3%.
Withdrawal Fees: Free, but With a Catch
Plus500 allows five free withdrawals per month. That’s more generous than many platforms.
But:
- If you withdraw more than 5 times in a single month, you’ll be charged $10 per extra withdrawal.
- If your withdrawal is less than $100, there’s also a $10 fee.
- Third-party fees from banks or e-wallets can still apply.
Withdrawal Fee Summary:
| Scenario | Fee |
|---|---|
| First 5 withdrawals each month | Free |
| 6th and onward (same month) | $10 each |
| Withdrawal amount under $100 | $10 |
| Currency conversion (if applicable) | Varies by provider |
How Long Do Withdrawals Take?
Most traders see their funds within 1–3 business days, but the actual timing depends on the method you use.
Estimated Time by Method:
- E-wallets (PayPal, Skrill): 1–2 business days
- Credit/Debit cards: 3–5 business days
- Bank transfers: 3–7 business days
Pro Tip: Weekends and holidays can delay processing. Try to request withdrawals Monday–Wednesday to speed things up.
Real Trader Experiences: What the Community Says
We searched Reddit, Trustpilot, and trading forums to find what real traders are saying:
- “PayPal was super fast—got my funds in less than 24 hours.”
- “Bank withdrawal took 4 days. No fee, but longer than expected.”
- “I got charged a $10 fee once because I withdrew $50 without realizing the minimum.”
Some users also note that Plus500 requires verification before your first withdrawal. This is standard with regulated brokers, but it catches people by surprise.
Avoiding Common Mistakes (And Fees!)
- Mistake 1: Withdrawing too often. Avoid it: Combine withdrawals and plan ahead to stay under the free 5-per-month limit.
- Mistake 2: Withdrawing under $100. Avoid it: Wait until your balance is higher. A $10 fee on a $50 withdrawal means you’re losing 20% instantly.
- Mistake 3: Using a method different from your deposit. Avoid it: Use the same payment method you used to deposit. This prevents compliance delays.
- Mistake 4: Not verifying your account early. Avoid it: Complete identity and proof-of-address checks before your first withdrawal request.
Pro Tips for Beginners Worried About Fees
- Start with one payment method only. Don’t overcomplicate things until you’re confident.
- Keep track of your withdrawal count. You don’t get alerts after five—track it yourself.
- Use e-wallets when available. They’re often faster and have fewer third-party bank delays.
- Verify your account the moment you register. Don’t wait until you need to withdraw.
What About Currency Conversion Fees?
While Plus500 doesn’t charge direct fees for currency exchange, they do apply a small spread when converting currencies. This is common on most platforms.
For example: If your trading account is in USD but your bank is in EUR, you may lose 0.5–1% on the conversion due to the spread.
Solution: Open your Plus500 account in the same currency as your bank/card when possible. Or, use a multi-currency e-wallet.
Is It Safe to Withdraw Money from Plus500?
Yes. Plus500 is regulated by top financial authorities including:
- FCA (UK)
- CySEC (EU)
- ASIC (Australia)
They follow strict rules, including segregated accounts, meaning your funds are kept separate from company money. Still, always double-check your payment details before making a withdrawal—and don’t skip verification.
Final Thoughts
Managing your money on Plus500 can feel scary at first—but once you understand the fees, it’s really not that hard.
Start small. Read every prompt. Reach out to support if something doesn’t feel right. You’re not falling behind—you’re building strong habits early. That alone sets you apart from most beginners.
You’ve got this.
FAQs
1. How long does it take to withdraw money from Plus500? Withdrawals are processed within 1–3 business days, but your bank or e-wallet might take longer. Total time can range from 1 to 7 days depending on your method.
2. Can I get charged for a deposit? Not by Plus500—but your bank or card company might charge international or currency conversion fees. Check with them before sending money.
3. What if I make more than five withdrawals in a month? You’ll be charged $10 per additional withdrawal. Try to combine withdrawals to stay under the limit.
4. Can I cancel a withdrawal? Yes, as long as it’s still marked “pending.” Just go to ‘Funds Management’ > ‘Pending Withdrawals’ and cancel it there.
5. What happens if I withdraw less than $100? A $10 fee applies. It’s better to wait until your balance reaches or exceeds $100 to avoid losing money unnecessarily.
6. Are there currency conversion fees? Yes, but they’re built into the exchange rate (called a spread). You won’t see a separate charge, but you might get slightly less due to the conversion.
7. Do I need to verify my account before withdrawing? Absolutely. Plus500 follows strict regulations. You’ll need to submit ID and proof of address before your first withdrawal.
8. What’s the best method for fast, low-fee withdrawals? E-wallets like PayPal are usually the fastest. Many users report receiving funds in under 48 hours.
9. Will I be warned if I go over the free withdrawal limit? No automatic warning appears. Track your own withdrawal count so you don’t get hit with unexpected $10 charges.
10. Is it safe to deposit and withdraw large amounts? Yes, Plus500 is regulated and uses secure systems. For larger amounts, use verified bank accounts and complete identity checks early to avoid delays.
