Plus500 charges a minimum deposit of $100. This is quite affordable compared to brokers like ActivTrades, who charge a minimum deposit of $1,000. However, this minimum of $100 is valid if you’re transferring funds via electronic wallet or debit or credit card. For bank transfers, the minimum is $300.
First, you’ll have to transfer the money from a bank account to a brokerage account. Only then can you begin trading. Occasionally, this is called initial funding or an initial deposit.
When you plan to open an account with this broker, you need to take several other factors into account beyond the required minimum deposit. There are certain advantages when it comes to depositing at Plus500. They include absence of deposit fees, the possibility to make a fast and easy deposit by debit or credit card, and the presence of several base currencies.
Plus500 requires a minimum deposit to cover initial costs linked to opening new accounts as well as to make sure they get a profit. While you can deposit the bare minimum, a bigger deposit will make it possible to trade more and make more money, both for yourself and Plus500. After all, every broker is out to make a profit and the bottom line is always a key consideration of any operation and initiative. Brokers that don’t charge deposit fees and only charge low trading fees often set high minimum deposits for first time users.
The broker doesn’t charge deposit fees. This is very good because you only reckon with bank fees. No other deduction from your deposit will be made. If you’re using another payment method, consider the costs they will charge.