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I hereby notify you of my decision to terminate the contract relating to the Plus500 service.
This notification constitutes a firm, clear and unequivocal intention to cancel the contract, effective at the earliest possible date or in accordance with the applicable contractual period.
Please take all necessary measures to:
– cease all billing from the effective date of cancellation;
– confirm in writing the proper processing of this request;
– and, if applicable, send me the final statement or balance confirmation.
This cancellation is addressed to you by certified e-mail. The sending, timestamping and content integrity are established, making it a probative document meeting electronic proof requirements. You therefore have all the necessary elements to proceed with regular processing of this cancellation, in accordance with applicable principles regarding written notification and contractual freedom.
In accordance with personal data protection rules, I also request:
– deletion of all my data not necessary for your legal or accounting obligations;
– closure of any associated personal account;
– and confirmation of actual data deletion according to applicable privacy rights.
I retain a complete copy of this notification as well as proof of sending.
Important warning regarding service limitations
In the interest of transparency and prevention, it is essential to recall the inherent limitations of any dematerialized sending service, even when timestamped, tracked and certified. Guarantees relate to sending and technical proof, but never to the recipient's behavior, diligence or decisions.
Please note, Postclic cannot:
- guarantee that the recipient receives, opens or becomes aware of your e-mail.
- guarantee that the recipient processes, accepts or executes your request.
- guarantee the accuracy or completeness of content written by the user.
- guarantee the validity of an incorrect or outdated address.
- prevent the recipient from contesting the legal scope of the mail.
Cancellation Plus500: Easy Method
What is Plus500
Overview
Plus500 is an online trading platform that offers contracts for difference (CFDs) across instruments such as shares, forex, indices and commodities.
The platform provides retail trading tools including a demo account, web and mobile apps, and electronic deposit/withdrawal options.
Core features
Key features commonly highlighted by users include a user-friendly interface and an unlimited demo account for practice trading.
Plus500 operates on a commission-free model with costs built into spreads and certain fees such as inactivity charges.
How to cancel Plus500
Web and desktop cancellation steps
- Close any open positions - open trades remain live until closed and affect your available balance.
- Withdraw your available balance using the platform's withdrawal process; withdrawals are subject to verification and original payment method rules.
- Stop funding the account and do not log in if you wish to become inactive; formally closing or deleting an account may require contacting support.
Mobile apps and subscriptions
- If you have a subscription-type payment through the Apple App Store or Google Play, cancel that subscription via your App Store / Google Play account settings.
- The Plus500 app itself does not cancel App Store/Google Play subscriptions; use the respective store to prevent future recurring charges.
What happens when you cancel
Access and open positions
Closing your account does not automatically close open positions; you must close positions to realise any remaining balance.
Until positions are closed, market movements will continue to affect your account balance and margin.
Data, records and account closure
After you withdraw or close your account, Plus500 will retain transaction and verification records as required by its policies and applicable law.
If you want the account deleted or restricted, contact Plus500 support to request account closure and ask what documentation or steps are required.
Will I get a refund?
Official policy
Plus500 states there is no cooling-off period and no automatic refunds once you have deposited funds and initiated trades.
Refunds are not provided simply because you decide to cancel after trading; available funds can only be returned by closing positions and withdrawing the resulting balance.
Exceptions and practical notes
- Withdrawals are normally returned to the original payment method when possible; expired or rejected cards may require alternative processing.
- Refund timing and routes can be affected by verification, anti-money laundering checks and payment provider rules.
For the official statement, see the Product Disclosure Statement: Plus500 Product Disclosure Statement.
Plus500 plans and pricing
Pricing summary
Plus500 does not use tiered recurring subscription plans. Available costs are primarily deposit minimums and an inactivity fee.
Confirm current limits and fees in your account area before depositing.
Pricing table
| Plan | Price | Period | Features |
|---|---|---|---|
| Minimum Deposit (Cards & E-wallets) | R750 | One-off to open/trade | Deposit via Visa/MasterCard, PayPal, Skrill; instant funding; ZAR base currency |
| Minimum Deposit (Bank Transfer) | R3,000 | One-off to open/trade | Deposit via South African bank transfer; takes up to 5 business days |
| Inactivity Fee | USD 10 / month (~R175 - R200) | Monthly after 3 months inactivity | Charged if no login to the account for 90 days |
Your consumer rights in South Africa
No cooling-off or refund right after trading
Per the Product Disclosure Statement, there is no cooling-off period and deposits used for trading are not refundable simply because you later cancel.
Your access to remaining funds depends on closing trades and withdrawing the resulting balance.
Withdrawal and verification rights
- Withdrawals will generally be returned to the same payment method used for deposit where possible.
- Plus500 may request identity, proof-of-address or payment method documentation when you withdraw funds to comply with AML and verification rules.
For withdrawal rules, see the operator guidelines: Plus500 Guidelines per operator.
Customer experiences
Positive feedback
- Users often praise the clean interface, ease of use, fast withdrawals in some cases, and a useful demo account for beginners.
- Many reviews highlight the platform's suitability for new traders and the convenience of ZAR base currency options.
Common complaints
- South African users report frustrations with chart settings resetting, frequent KYC or bank statement requests, and impersonal customer support.
- Global complaints include withdrawal delays, verification hurdles and refunds being redirected to alternative payment methods without clear authorisation.
For broader user reviews see: Plus500 on Trustpilot and South Africa-specific commentary: Plus500 reviews (South Africa).
Documentation checklist
Identity and address documents
- Valid government-issued ID (passport or ID card).
- Proof of address (utility bill or bank statement, usually recent within 3 months).
Payment and withdrawal documents
- Copy or screenshot of the card used to deposit (mask card numbers except first/last 4 digits) or e-wallet account details.
- Bank statement or transfer confirmation when deposits were made by bank transfer.
Keep scanned copies ready to speed up verification and withdrawals; see withdrawal guidelines: Plus500 Guidelines per operator.
Common mistakes
Leaving positions open
A frequent error is assuming account cancellation will close open trades automatically.
Open positions continue to incur P&L and margin requirements until closed.
Misunderstanding refunds and subscriptions
Many users try to obtain a refund after trading; Plus500's PDS makes clear refunds are not available once trades are placed.
Another mistake is cancelling the Plus500 app but forgetting to cancel App Store/Google Play subscriptions, which must be cancelled via the store.
Comparative recap
Quick comparison
| Feature | Plus500 behaviour | User impact |
|---|---|---|
| Refunds / Cooling-off | No cooling-off; no refunds after trades are placed | Users must close trades and withdraw funds to retrieve balances |
| Subscriptions | No in-app subscription cancellation; handled by Apple/Google | Cancel via App Store/Google Play to stop recurring charges |
| Withdrawals | Returned to original payment method where possible; subject to verification | Prepare documentation to avoid delays |
Key trade-offs
Plus500 offers ease of use and demo accounts but imposes strict post-trade refund rules and verification for withdrawals.
Expect to manage withdrawals proactively and keep documentation ready to reduce delays.
After cancelling
Next steps
- Ensure all positions are closed and submit a withdrawal request for the remaining balance.
- Cancel any App Store or Google Play subscriptions separately from the Plus500 app.
- Save copies of transaction confirmations, communications and verification documents for your records.
Helpful links
- Plus500 Product Disclosure Statement
- Plus500 Guidelines per operator (withdrawal & verification)
- User reviews on Trustpilot
- South Africa user reviews
Address
Registered office
Plus500UK Ltd, 8 Angel Court, Copthall Avenue, London EC2R 7HJ, United Kingdom.
For specific South Africa correspondence or account issues, use the contact/support options inside your Plus500 account or app.
Contacting support
Use the in-platform support or the help centre links above to request account closure, withdrawals or to submit documents for verification.
Keep records of any correspondence and transaction IDs when you contact support.