Trading is not simple, as every investor knows. It’s particularly challenging for newcomers who haven’t had much experience managing risk and losses. Traders may also have problems with their brokers, such as difficulties making deposits or withdrawals, or difficulties completing transactions. Continue reading if you have concluded that trading is not for you or if you have chosen to switch brokers. We’ll teach you how to delete your Plus 500 account, go through some of the reasons you may want to, and demonstrate to you who you can trade with instead in this article.
About Plus 500:
Plus500 was created in 2008 and has been listed on the London Stock Exchange (running as Plus 500 Limited, symbol: PLUS) since 2018. It is a component of the FTSE 250 index at the time of writing. Plus500 is based in Israel and is regulated by a number of financial regulators, including the top-tier Financial Conduct Authority in the United Kingdom (FCA).
Services that Plus 500 offers:
Plus500 allows its customers to trade a broad range of currency pairings, including majors, minors, and developing markets. There are 71 currency pairings available, which is on the higher end of broker offers. Plus500 is a fantastic alternative for FX traders because of its large variety of currency pairings. Plus500 is a leading supplier of Contracts for Difference (CFDs), encompassing currency (forex), stock indexes and individual shares, ETFs, cryptocurrencies, and commodities. On some of these CFDs, they also provide alternatives.
Now that we’ve talked about what Plus 500 is and what it offers to its users, let’s talk about some of the probable reasons why one wants to delete their Plus 500 account and how to delete it.
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Why do you want to delete your Plus 500 account?
The most basic and typical cause is that you no longer wish to trade. Perhaps you’ve had some losses and want to take a break, or perhaps you just don’t have the time to master the markets. There is no getting around the fact that being a consistently successful trader takes time.
Another typical reason for closing your Plus 500 account is that the financial instrument you wish to trade is not available. Perhaps you’d want to invest in an unusual currency pair or a certain company’s shares. Plus 500 has a large number of trading instruments in various areas, however, they don’t have everything.
Other reasons we hear about include difficulties with trade execution and deposits and withdrawals. Your payments and withdrawals should be handled quickly, and your transactions should be performed at the price you anticipate. We usually recommend communicating with Plus 500 first, since issues do arise. However, if they occur often, you should seriously consider switching brokers.
To delete your Plus 500 account, follow these steps:
If you wish to delete your account, you’ll have to contact customer care, who will almost certainly try to persuade you to remain. To ensure that the employer takes your request seriously, send an email indicating your desire to close your account.
You must first close your transactions before proceeding. If you have any open positions, Plus 500 will not allow you to terminate your account.
You may be able to withdraw money, but it’s preferable to request an account closure first since there may be costs to pay. Click on ‘Contact Us’ in the assistance area of the main menu to discover the contact form and additional methods to contact Plus 500.
Instead, who can I trade with?
Who you should trade with instead will be determined by the reason for your Plus 500 account closure? If you’ve had some losses and want to take a break, trading in a demo account is an excellent approach to regain confidence and acquire expertise without jeopardizing your actual money. Pepperstone is our preferred forex broker, and they provide a free 30-day sample account. This is an excellent way to rebuild confidence after a failure and continue to improve your trading skills without endangering your own money.
Copy trading is for you if you don’t have the time to spend trading. This is also known as social trading, and it involves automatically copying all of a trader’s deals. It’s ideal for newcomers and those of us who don’t have hours to devote to daily market analysis. eToro is the undisputed king of this kind of trading, and you can get started with a free sample account.
It’s crucial to consider your alternatives if you want to trade a certain currency pair or another financial instrument that Plus 500 doesn’t provide.
Conclusion: So, that was all about how you can delete the Plus 500 account if you do not wish to continue the service. We hope you enjoyed it and found the information beneficial.