The time frame for processing a withdrawal request is normally within one business day, and during this time, the withdrawal request will go through a number of stages. You can follow the status of your withdrawal under “Funds Management” → “Monetary History”:
Requested – This is the initial stage and it means that you have requested to withdraw funds from your trading account, but the payment is yet to be processed. Should you wish, it is possible for you to cancel your withdrawal request at this stage by accessing “Funds Management” → ”Monetary History” and clicking on “Cancel Withdrawal”.
Approved (In progress) – This stage means that your withdrawal has been authorised by Plus500, but the funds have not yet been sent to the relevant external payment processing party.
Approved Sent – This stage means that the funds have been transferred by us to the relevant external payment processing party.
Approved Settled – This final stage means that the withdrawal process has been completed, however, funds may possibly still be subject to clearing delays by the payment processing party.
During the processing time and until a withdrawal request is in the status ‘Approved in progress’, the withdrawal request can be cancelled by you. Until the withdrawal request is in the status ‘Approved Settled’ it can be cancelled by Plus500 and can be used to satisfy your liabilities for any transactions completed during such time.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.