The brokerage firm allows you to start with only $100. This means that by depositing this amount you can have access to all broker’s features including the trading platform, instruments, etc. Our experts have done deep research and comparison of the minimum deposit of the closest competitors to provide you with interesting details. Below you will find some points that will help you to understand whether Plus500 is worth your attention or not.
Plus500 Minimum Deposit: Is It Enough for Trading?
The lowest amount you can deposit to start trading with Plus500 is one hundred US Dollars, which is a comparatively low minimum deposit, not to say the lowest in this field. If you compare Plus500 with its closest rivals, Admiral Markets, and Avatrade, they accept traders with the same minimum deposit.
There is one more benefit that we should mention. Plus500 does not offer various account types, meaning you can benefit from all broker’s features starting with $100.
If you are wondering whether you can do much with this sum, our experts have done some calculations for you. Thus, trading with $100 can be interesting if you are dealing with cent Forex. This means that your position sizes will not exceed $1 and your risks will be below $10 per trade. In this case, you can apply various strategies including the most aggressive scalping trading systems. Keeping in mind the ones of the lowest spreads in the industry (from 0.6 pips), your trading routine can be even more efficient and beneficial.
How to Top Up Your Plus500 Trading Account
To credit your trading account with a Plus500 minimum deposit, you can use bank wire, credit/debit/prepaid cards as well as a couple of e-wallets. As you can see, the range of banking options is pretty standard. However, it also depends on the region you come from. You need to check if a particular payment method is available in your location.
When comparing the range of payment methods that you can use to credit your account and to cash out profits, it looks similar to the brokerage firm’s closest rivals — Avatrade and Admiral Markets. What makes Plus500 a better choice, in this case, is the list of available currencies. Plus500 currency’s arsenal includes 14 assets, while its closest rivals can boast of a maximum of 10 currencies.
Plus 500 fees
What makes this brokerage firm even more attractive is the fees that they charge. According to the information on its official website, the company applies zero commission for all deposit and withdrawal transactions. For end-users, this means that they don’t need to pay any additional costs when topping up their accounts. Nothing is deducted from your account when you decide to cash out your earnings.
However, this doesn’t mean that you are going to trade for free. Broker’s services are paid via the spread, which starts from 0.6 pips. This means that each time you buy or sell a particular trading asset, the price will be 0.6 pips+ above or below the quotes that you can see on the trading platform.
Additionally, you will have to pay for overnight funding, account inactivity, guaranteed stop order, as well as for currency conversion transactions.
Plus500 Minimum Deposit Experts Verdict
As you can see, the minimum deposit at Plus500 does not exceed the average minimum amount required by the majority of brokerage firms including Plus500’s closest rivals. With its wide range of payment options, Plus500 allows you to comfortably transfer funds to and from the trading site with as low as 0 fees. The list of currencies that you can use to top up your account contains 14 positions.