Plus500 fees are easier to understand than most prediction markets, and that’s why it’s something of interest for traders. With the lingo that makes it complicated, this guide on Plus500 will make it easier to understand.
So far, Plus500 is clear on its fees. In fact, you’ll find out that the site offers a quick and easy-to-understand guide for new users. The site has also waived deposit fees, but has withdrawal fees on the other end. Continue reading below as we detail all there is to look out for when you start accessing this prediction market.
Let’s Break Down the Plus500 Trading Fees
Every trader who joins Plus500 will pay the same trading fees. This is because the Plus500 fee structure is fixed, which keeps everything crystal clear. It’s not quite as simple as a single fixed fee, though. There are different fees to consider, which may or may not be added depending on your margin requirements and so on. It might sound a little complex but allow us to clear it all up.
Plus500 Fees Per Contract Type
First of all, you will be charged a set fee depending on the type of contract you are trading. These are commission fees and are taken when you buy an event contract. If you trade a Micro contract, the fee is $0.40. However, if it’s a Standard contract, then the fee is $0.89.
Auto-Liquidation Fee
The Auto-Liquidation fee is not always applied, as this depends on whether you meet the margin requirements. If your equity falls below the day or full margin requirements, then you are charged $10 per contract. There are 3 margin requirements for you to meet:
For example, let’s say that the trading session runs from 9:00 AM to 5:00 PM. This will mean that the Day Margin must be met between 9:00 AM and 4:45 PM. Then, the Full Margin will come into effect between 4:45 PM and 5:00 PM.
The margins are the same for each trader. When we explored the
Plus500 prediction markets
recently, the Day Margin is $300, and the Full Margin is $7,386.50. Using these figures, you should have $300+ in your account to start and over $7,386.50 within the last 15 minutes. If not, you are charged $10 per contract.
Commission and Exchange Fee
In addition to those fees above, all contracts are subject to a $0.01 commission and $0.01 exchange fee. This totals $0.02, which will be added at the time of trading. This fee is per contract, so make sure you weigh this up when calculating your fees and potential profit.
Moving on to the Plus500 Transaction Fees
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Plus500's range of tradeable assets and markets
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Plus500 offers trading across major global markets
A key thing to note here is that deposit charges do not exist. Every time you deposit funds into your account, there are zero deposit fees to worry about. Truth be told, we hate spotting a deposit fee. We don’t think it’s right to face extra charges just for making a deposit. Especially when other fees are present. That said, there are withdrawal fees.
For your first withdrawal of each calendar month, the processing fees are waived. After this, your additional withdrawals will incur a 1.75% fee, based on the amount of your requested payout. If you are not in a rush to get your funds out of your account, it’s worth considering only withdrawing once a month. As for the limits, there’s a minimum limit of $1, with a cap of $150 on withdrawals.
Pros and Cons of Plus500 Fees
Plenty of
top sports prediction market sites
apply fees per contract and for processing your transaction. While fees can be frustrating, it’s standard within the industry. To keep things as simple as possible, all fees are the same for each trader. They are either based on percentages or are a fixed fee. While this is a good note, there are some downsides to consider, too:
Pros and Cons
- Clear pricing structure
- No fees on deposits
- Low commission and exchange fee
- First monthly payout has no fees
- Your balance must meet requirements
Conclusion: Plus500 Has an Upfront Approach to Its Fees
Plus500 doesn’t hide its trading or transaction fees. We have visited many prediction market sites in the past and not all of them are quite as easy to find. Plus500 ensures you have everything you need at a glance. One of the first pieces of information you will find in the FAQs, for example, is the fees. The great news is that your deposits and first withdrawal of the month will not incur any transaction fees. This makes it easy for you to move funds around without paying additional fees.
As for trading fees, there is a clear structure. This allows you to calculate all of the charges you will face ahead of trading, rather than being surprised. Plus, your fees will be shown to you before you buy an event contract. Now that you know how the fees work, if you are happy to proceed, there’s not much left to do. Simply tap the promotional banners on this page to launch the website and open your account.
Plus500 Fees FAQs
💰 Why Does Plus500 Charge a Commission Per Contract?
While it can be frustrating to pay commission fees while trading, it’s perfectly normal. Let’s face it, it’s how Plus500 makes money. While it would be nice to have no fees to pay, if this were a thing, Plus500 wouldn’t be able to operate.
📊 How Do I Calculate My Fees for Trading at Plus500?
You don’t need to worry about calculating the fees yourself, unless you want to, of course. Before you buy an event contract, Plus500 will give you a full breakdown of your fees.
🕒 When Do I Have to Pay My Fees at Plus500?
All of the fees are taken in advance. For example, your trading fees are taken at the same time as you make your prediction. Also, your withdrawal fees are deducted from your final withdrawal amount.
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