Cancellation Plus500: Easy Method

What is Plus500

Overview

Plus500 is an online trading platform that offers Contracts for Difference (CFDs) on instruments such as forex, stocks and commodities. The service provides a web platform and mobile apps for placing trades, demo accounts for practice, and mechanisms such as negative balance protection.

Regulation and footprint

In Singapore Plus500 operates through Plus500SG Pte Ltd and is subject to local regulation. The platform is commonly used by retail traders for leveraged CFD trading and provides standard deposit and withdrawal channels.

How to cancel Plus500

If you subscribed via mobile app

• Cancel subscriptions purchased through the Apple App Store or Google Play directly in your App Store or Google Play account.
• Plus500 cannot cancel App Store or Google Play subscriptions on your behalf; use the store's subscription management screens.

If you subscribed on the web platform

• Log into your Plus500 account on the website and go to Account Settings to close or deactivate the account where that option is offered.
• If you cannot find the option, contact Plus500 support from your account or via their help channels to request account closure.

What happens when you cancel

Access and account status

After you cancel, platform access may be removed or limited depending on whether open positions remain. Some account data may be retained for regulatory or verification purposes.

Open positions and funds

Cancelling alone does not automatically close open trades. You must close open positions to realise any remaining balance before requesting a withdrawal.

Will I get a refund?

General refund policy

Plus500 has no cooling-off period for active CFD trading and does not provide refunds once trades have been initiated. Financial services involving live trades typically do not qualify for standard distance-selling refunds.

Exceptions and withdrawal process

• To retrieve remaining funds you must close open positions and submit a withdrawal request for the resulting balance.
• Withdrawals are usually returned to the original payment method when possible and are subject to identity verification and anti-money-laundering checks.
• Cancelling an account does not trigger an automatic refund of deposited funds.

Plus500 plans and pricing

Summary of fees

Plus500 does not charge subscription fees; trading costs are included in spreads. The platform may apply inactivity fees and requires a minimum deposit depending on payment method.

Key pricing items

Your consumer rights in Singapore

Regulatory protection

Plus500SG Pte Ltd is licensed by the Monetary Authority of Singapore (MAS), which imposes requirements such as segregation of client funds and negative balance protection. These measures offer regulatory oversight and client safeguards.

Cooling-off and financial services

• Standard distance-selling cooling-off periods (for example, 14 days) generally do not apply to active CFD trading.
• Execution risk and market volatility begin as trades are placed, so typical consumer refund rights are limited for these products.

Customer experiences

Positive feedback

• Users praise the platform for being user-friendly, low commission, fast and flexible deposits/withdrawals, and availability of demo accounts.
• Many reviewers highlight perceived reliability, security and regulatory compliance in Singapore.

Negative feedback

• Recurring complaints include delays or difficulties with withdrawals due to verification requirements and some users say support can be slow when funds are held.
• There are reports from a minority of users alleging account balance manipulation or difficulties retrieving funds during account closure or withdrawal processes.

Documentation checklist

Verification documents

• Government-issued photo ID (passport or national ID).
• Proof of residence dated within the required timeframe (utility bill, bank statement).

Transaction and account records

• Records of deposits and withdrawals (bank statements, card receipts, PayPal history).
• Screenshots or records of open/closed positions if relevant to disputes.

Common mistakes

Failing to close positions

Many users assume cancelling the account closes open trades. In reality, open positions remain active and can affect the final balance.

Not completing verification

Attempting to withdraw or close an account without completing identity verification often causes delays. Always upload required documents early to avoid hold-ups.

Comparative recap

Quick comparison

After cancelling

Final steps

• Ensure all open positions are closed and submit a withdrawal request to retrieve remaining funds.
• Keep copies of all verification documents, withdrawal confirmations and communication with support for records.

Useful links

• Cancellation guide (Postclic)
• Plus500 review and practical notes (SafeForexBrokers)
• User reviews (Trustpilot)

Address

Registered address

Plus500SG Pte Ltd - 80 Robinson Road, #17‑02, Singapore 068898.

Contact tips

When contacting support, reference your account number, include copies of required documents and keep timestamps of all communications for dispute resolution.