Many users only consider billing when an unexpected charge catches them off guard, such as an automatic subscription renewal. This guide is designed to help you navigate Plus500's refund process with ease, explaining who is eligible for refunds and detailing the straightforward steps to request your money back. Our aim is to empower you with the knowledge you need to handle any billing inquiries confidently and efficiently.
What You Should Prepare Before Applying For Refund
Account Details: Your Plus500 account number and the email address associated with the account.
Transaction ID: The specific transaction ID of the trade or deposit you want to request a refund for.
Request Reason: A clear reason for the refund request, detailing any issues experienced or justification based on their refund policy.
Trading History: A copy of your trading history relevant to the transaction in question, to provide context for the refund request.
Documentation: Any screenshots or documentation that support your request, such as error messages or confirmation emails.
Proof of Identity: A copy of a government-issued ID or utility bill, if necessary, to verify your identity when processing the refund.
Compliance with Timeframes: Ensure that your refund request is made within the stipulated time frame mentioned in Plus500’s refund policy.
How Long Does it Take to Get a Refund?
Payment method
How long it takes*
Credit/Debit Card
3-5 working days
Bank Transfer
3-7 working days
PayPal
1-3 working days
Skrill
1-3 working days
Neteller
1-3 working days
*Working days are Monday to Friday, and don't include public holidays.
What are my Rights? Am I eligible for a Refund from Plus500
At Plus500, users engage in trading a variety of financial instruments, including stocks, forex, commodities, and cryptocurrencies through a trading platform. Refund eligibility primarily revolves around user account management considerations and specific trading scenarios rather than traditional product returns or cancellations.
While Plus500 does not offer refunds in the conventional sense, there are specific circumstances under which users may seek clarifications or adjustments related to their trading activities. The following situations might be relevant for users wanting to inquire about their account statuses or trading outcomes:
Account Balance Adjustments: If users notice discrepancies in their account balance due to system updates or technical issues, they may initiate inquiries regarding possible adjustments.
Promotional Credits: Users who participate in promotional offers may have terms applicable to the withdrawal or usage of promotional credits that could affect their available funds.
Trading Errors: In instances where users believe they have experienced trading errors or execution discrepancies, they might be eligible to explore options for any necessary account clarifications.
Withdrawal Processing: Users may have questions regarding the processing times and policies related to their withdrawal requests, especially if they are seeking timely access to their funds.
Inactive Accounts: Users with inactive accounts may want to examine policies related to account management and the status of their funds.
It's important for users to review Plus500's specific policies and terms of service for detailed guidance and to understand the nuances associated with trading activities on their platform.
Step-by-Step Process to Request Your Plus500 Refund Like a Pro
If you purchased through Plus500.com:
Log in to your Plus500 account.
Navigate to the Help Center located at the bottom of the homepage.
Select Contact Us or Submit a Request.
Choose the category related to your refund request, usually labeled as Billing or Payments.
Fill in the required fields in the form:
For the subject, use a clear phrase like Refund Request.
In the description, mention that the subscription renewed without notice or the account was unused.
Attach any relevant documents if necessary, such as purchase confirmations.
Submit the request and wait for a confirmation email regarding the status of your refund.
If you purchased through Apple:
Open the Settings app on your device.
Tap on your Apple ID at the top of the screen.
Select Subscriptions.
Locate the Plus500 subscription you wish to refund.
Tap on it, then select Report a Problem.
Choose the relevant issue that matches your request, usually Problem with Purchase.
In your message, mention that the subscription renewed unexpectedly or the service was not used.
Submit the report for review.
If you purchased through Google Play:
Open the Google Play Store app.
Tap the Menu icon (three horizontal lines) and select Subscriptions.
Find your Plus500 subscription in the list.
Tap on it, then choose Cancel Subscription if required.
After canceling, select Request a Refund or Report a Problem.
In the description, explain that the recurring charge was unanticipated or the account was not active.
Submit your refund request.
If you purchased through Roku:
Go to the Roku website and sign in to your account.
Navigate to the My Account section.
Look for a Manage Subscription link, or go to Billing settings.
Identify Plus500 in your subscriptions list.
Select Unsubscribe if necessary for eligibility to refund.
Contact Roku support via their Help page.
Explain your situation, emphasizing that the subscription renewed without prior notice or the service was not utilized.
Submit your request for a refund through their support channels.
Disclaimer
Chargeback is an independent consumer resource that provides educational information to help users understand how to cancel, manage, or request refunds for various subscriptions. We are not affiliated with, endorsed by, or sponsored by any of the companies mentioned on this site. All trademarks, logos, and brand names are the property of their respective owners.
The information we provide is based on publicly available sources and user reports and may contain inaccuracies or become outdated over time. Our guides are intended for general informational purposes only and should not be relied upon as official company instructions or legal advice.
Consumers are solely responsible for reviewing their own contracts, terms of service, and refund or cancellation obligations before taking any action. Nothing on this site should be interpreted as legal, financial, or contractual guidance.
Chargeback does not encourage or condone disputing valid charges, misrepresenting transactions, or taking any action that could violate a company's terms, service agreement, or applicable laws. We promote fair, transparent, and lawful communication between consumers and businesses.
Regarding my account, I would like to bring to your attention the following billing situation: [describe reason]
I would like to request a refund in the amount of [Amount].
I have attached relevant documentation for your review (if applicable).
Could you please confirm the receipt of this request and provide an update within the next 3-5 business days?
Thank you for your attention to this matter.
Sincerely,
[Your Name]
[Your Phone Number]
Common refund statuses
Status
Meaning
What It Means for You
Pending
Your refund request has been received and is awaiting approval.
This status indicates that we are reviewing your request and will update you shortly.
Processing
Your refund is currently being processed by our finance team.
Your funds should be on the way; please allow a few business days for the transfer.
Refunded
The requested amount has been successfully refunded to your account.
You can check your account balance to confirm receipt of funds.
Partially Refunded
A portion of your refund request has been approved and processed.
You will receive only part of the requested amount; check your account for details.
Completed
The refund process is fully completed and confirmed.
You have received the total refund amount in your account.
Canceled
Your refund request has been canceled by you or our team.
You will not receive a refund as the request has been withdrawn.
Real User Scenarios: When and How Refunds Were Successfully Claimed
Refund requests can arise from various user circumstances while navigating Plus500's trading platform. Here are a few examples of when and how users successfully claimed refunds:
Accidental Inactivity Fee: A user intended to trade actively but mistakenly left their account dormant for an extended period. After realizing the inactivity fee had been charged, they contacted Plus500 support, explained their situation, and received a refund due to their misunderstanding of the inactivity policy.
Withdrawal Delay Issue: A trader requested a withdrawal but experienced an unexpected delay due to a bank processing issue. Upon reaching out to Plus500, the user reported the situation, and the support team promptly issued a refund for the potential loss of trading opportunity during the wait.
Error in Account Configuration: A user selected a higher risk level on their account settings but quickly realized it did not align with their trading strategy. They contacted customer support within the adjustment period to rectify the mistake and successfully received a refund for the fee associated with the higher-risk configuration.
Misunderstood Margin Call: A trader misread the margin requirement notifications and faced a margin call, leading to an unexpected charge. After discussing the misunderstanding with Plus500, they were able to clarify the situation and obtain a refund for the incidental charge associated with the margin call.
The Easiest Way to Get a Plus500 Refund
If you're frustrated trying to get a refund from Plus500—or if you didn't even realize you were being charged—Chargeback can help. Chargeback is a personal subscription manager that automatically detects hidden, recurring charges like Netflix, Hulu, and hundreds of others. With one click, we can cancel unwanted subscriptions, flag suspicious billing, and even initiate refund requests on your behalf. No more waiting on hold or navigating confusing help pages. Just connect your bank or card account, and we'll take care of the rest.
How to Track Your Refund Status Efficiently
Tracking your refund status with Plus500 is crucial to ensure you stay informed about your finances. Here are specific tips to efficiently track your refund progress:
Check Your Email Notifications: Plus500 will send you an email confirmation once your refund is initiated. Look for emails from noreply@plus500.com containing details about your refund request.
Use the Plus500 Mobile App: If you are using the Plus500 mobile app, navigate to the 'Account' section. Here, you can receive real-time notifications regarding your refund status directly within the app.
Visit Your Account Dashboard: Log into your Plus500 account and go to the 'Account Settings' area. Here, you will find a detailed view of your financial transactions, including any pending or completed refunds.
Check the Billing Section: Within your account dashboard, click on the 'Billing' section to see the status of your refunds. This area provides updates on processing times and any issues affecting your refund.
Review Your Order History: Go to 'Order History' in your dashboard to check the status of any trades related to your refund. This can give you insights into how long refunds might take based on previous transactions.
Follow Up with Customer Support: If you have not received any updates on your refund after a reasonable amount of time, reach out to Plus500's customer support via the 'Help' section of the app or website for more specific details.
FAQ
If you forget to cancel your subscription on time, it may not be possible to receive a refund for the recent charge, as the terms typically state that cancellations must be made before the billing cycle begins. However, it’s recommended to reach out to Plus500's customer support for assistance, as they may be able to offer guidance or alternative solutions regarding your account.
Refunds from Plus500 typically take 3 to 5 business days to process, depending on your bank or payment method. Once initiated, the timeframe for the funds to appear in your account may vary, so it's advisable to check with your financial institution for specific processing times.
If you see a charge but don't have an active subscription, first verify your account status by logging into your Plus500 account. If the charge persists, contact Plus500 customer support for assistance in resolving the issue and obtaining clarification on the charge.
If you're unable to obtain a refund directly from Plus500, consider reaching out to their customer service again for further assistance. Additionally, you may explore escalating your inquiry within Plus500's support system to ensure your concerns are addressed. Reviewing your account details to ensure all information is correct may also facilitate a smoother resolution.
If Plus500 refuses to issue a refund, it's advisable to carefully review their refund policy to ensure all criteria are met. You can also reach out to their customer support for clarification or further assistance regarding your account details. Additionally, checking your account activity may provide insights into your transaction history.
Chargeback and the Chargeback trademarks used herein are trademarks or registered trademarks of Chargeback and its affiliates. The use of any other trade name, copyright, or trademark is for identification and reference purposes only and does not imply any association with the copyright or trademark holder of their product or brand. Other product and company names mentioned herein are the property of their respective owners.
¹ Total savings is calculated based on internal annualized estimates of savings for customers. ² Average requests times may vary depending on volume of requests
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