Plus 500 Review
Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to share trading and a thorough selection of CFDs. Plus500’s simplified trading platform attracts beginners looking for a user-friendly experience, but its limited educational content and narrow selection of market research will leave active traders wanting more.
Trading with a regulated broker will limit the potential for fraud and malpractice. Plus500 are a regulated Israel based online trading platform available in more than 60 countries in 32 languages. Specializing in leveraged CFD trades. If you are looking to trade cryptocurrencies, stocks and shares, commodities, Forex, ETFs and Indices using CFDs. Plus500 is a CFD provider and offer CFD trading services only. All the instruments are available for trading only through CFDs. Plus500UK Ltd is a subsidiary and is based in London. Plus500CY Ltd is also a subsidiary and is based in Limassol Cyprus. Plus500 offer competitive spreads with no commissions on their mobile and desktop trading platforms. Plus500 offer Advanced risk management tools.. Plus500 presents clients with eight well-regulated entities.
- Australian Securities and Investments Commission (ASIC)
- Australian Financial Security Authority (FSA)
- Cyprus Securities and Exchange Commission (CySec)
- Financial Conduct Authority (FCA) of UK
- Monetary Authority of Singapore (MAS)
- The Financial Markets Authority (FMA) of New Zealand
- The Financial Sector Commission Authority (FSCA) of South Africa
Plus500 Pros & Cons
The primary thing you can do on Plus500 is use the wide selection of tools to take your CFD transactions to the next level. The platform is also considered low-risk because of the safety measures it has taken to secure both the platform and the users. Plus500 is also reliable because of the several trust ratings it has received, including the authorization by three tier-1 regulators and four tier-2 regulators.
The history of Plus500 can be traced back to 2005 when the platform was launched. At the time, the users were expected to have a PC or desktop, because those are the only devices that could access the website. It wasn’t until 2010 when the web-based version of the website was launched. This launch allows many users to access the site provided they have a smartphone, a Mac, or a Linux device. The mobile application started with the iOS system in 2011 and the Android system in 2012. Within the last few years, Plus500 has made tremendous moves to solidify its stance as one of the leading CFD brokerages in the world. This is evident in the integration of advanced trading indicators and the rollover function.
As a trader, you want to leverage all that this broker provides to get the most out of the CFD market. Among the many benefits is access to a wide range of financial asset classes, risk management tools, real-time alerts, and affordable fees.
- Offers a wide range of financial instruments
- Reduced fees
- Offers hundreds of technical indicators and charting tools
- Cross-platform availability
- Regulated by trusted authorities
Plus500 scores high on the reliability front, with constant uptime and a dependable experience on both mobile and web. If you do have issues, the company’s support team offers assistance through various channels and in 32 different languages. Credit payments protected by Secure Socket Layer (SSL) technology keep everything safe and anonymous.
User funds are safeguarded in segregated bank accounts that are separate from Plus500 operational funds. Moreover, accounts can be secured with two-factor authentication (2FA) to ensure accounts remain secure. In addition, Plus500 has obtained regulatory approval in all the regions it operates.
In line with financial regulations, you’ll have to prove your identity and provide the necessary tax information if you want to trade for real money at Plus500. For those that prefer to practice their craft before diving into the action, you can open a demo account. These accounts let you trade for free using a virtual bankroll and are highly recommended for novices.
- Click the links on this Plus500 Review to create an account at Plus500 using our secure sign-up link. Then, follow the below steps:
- Input your personal details, including name, address, email address and Tax Identification Number (TIN).
- Verify your phone number and preferred payment option, as well as your identity (you can upload an official form of ID).
- Accept the site’s terms and conditions.
- Fill in the Plus500 Questionnaire.
- Fund your account and start trading.
Plus500 Trading Platform
Plus500’s bespoke platform and features are accessible across various devices and are offered for both desktop and mobile. One of the most appealing aspects of Plus500’s platform is their online WebTrader, through which Plus500 online trading is conducted. WebTrader offers clients a streamlined trading experience with an intuitive interface suitable for both novice and experienced traders.
With Plus500, you can also trade cryptocurrencies, although in the form of CFD products. For this purpose, an exchange wallet has now been incorporated into the platform.
Plus500 has similar software available for download for clients who wish to access their trading platform via mobile or tablet (iOS and Android). The Plus500 app includes all the functionality of the desktop application.
Through the mobile, new customers can easily open an account, make a deposit and start trading all the CFD products available on the web platform.
The Plus500 demo account is another great feature, especially for inexperienced traders. Clients can access a completely free demo account which they can use to practice various trading strategies before placing any real capital at risk.
Plus500 is committed to the continuing development of its client’s trading ability, especially that of its most junior traders. In furtherance of this commitment, Plus500 offers a free demo account and supporting educational materials designed to guide the most junior traders in their trading.
Lastly, the platform offers an in-built newsfeed and economic calendar so that traders can easily keep up with the latest news and economic data releases without having to exit the platform or rely on any third-party software.
Unfortunately, Plus500 does not support the use of the widely used MetaTrader 4 platform. However, clients will still have access to the highest quality technical analysis charts and a range of technical indicators to support them in their trading.
A mobile version of the trading platform is also available to traders who wish to trade the markets using just their smartphones or mobile devices.
Provided free of charge, the mobile trading app can be downloaded directly from Google Playstore or Apple App Store.
The mobile app is fully functioning, and offers all the trading options that the web based version does, including CFDs on stocks and shares. It is a single click download, and trading via the app is quick and easy. Look and feel between mobile and web based platforms is kept the same, making transition between the two very easy.
Both Android and iOS versions retain all the same low trading fees, spreads and rates etc, and any trading portfolio is retained across all platforms.
Plus500 Account Types
Plus500 keeps their account options simple with these three possibilities:
- Demo account
- Real money account
- Professional accountPlus500 Demo Account:
A Plus500 demo account allows traders to test ideas and familiarize themselves with real market conditions in a risk-free environment. The only difference between the demo and real money account is that you’re trading with $40,000 worth of fictitious money. Many brokers offer demo accounts, but the one from Plus500 stands out for three reasons:1. You can keep it open for an unlimited time
2. You can open one without having to open a real money account
3. It’s ready to practice trading within minutes after the sign-up process
Plus500 Commission and fee
Plus500 keeps its fees as low as possible. Withdrawals are free until the monthly limit is reached. When you’re depositing/withdrawing in a non-native currency, a conversion fee of up to 0.5% may be applicable. Other fees may apply.
This broker makes its money through spreads. This keeps the fees extremely low. In fact, Plus500 has some of the lowest trading fees in the business.
The average spread on S&P 500 shares is 0.5*. When you compare Plus500’s average cost per trade on indices to other online brokers, it’s around 20% lower than other brokers, for example.
*Spread amounts are dynamic and subject to change. The amounts indicated above reflect the ones at the time of writing this review.
If you’re trading forex, major pairs such as EUR/USD have spreads as low as 0.7 pips*.
The only other fees you have to consider at Plus500 are the $10 a month inactivity charge and overnight funding fees. The latter will vary depending on the instrument you’re trading.
As we’ve noted, withdrawals at Plus500 are free until the monthly limit is reached. There are no deposit fees involved. All payments are protected by SSL encryption and funds are stored in segregated bank accounts.
Plus500 covers all the major currencies. We spoke to a member of the support team and they were somewhat reluctant to provide a complete list. However, we know you can use GBP, USD, EUR, CAD and others. That’s impressive in its own right but, significantly, it’s more than other trading sites like eToro and XTB.
Deposit Methods and Fees
You can make fee-free deposits of at least $200 using Visa, MasterCard, PayPal, Skrill and bank transfer ($500+).
Withdrawal Methods and Fees
You can withdraw a minimum of $50 without paying any fees at Plus500 (bank transfer and debit card withdrawals start at $50). Requests are typically processed within three days, which means you should receive your money within five to seven days. The withdrawal methods at Plus500 are: Visa, MasterCard, PayPal, Skrill and bank transfers
Which documents do I need to verify my account?
Verification requirements vary depending on your country of origin and your payment method. To link a bank account, for example, you’ll need to upload images of your statement and government-issued ID. Credit card verification is similar, while PayPal and Skrill offer an accelerated way to fund your account
How long do withdrawals take on Plus500??
You can make withdrawals any time you like on this platform, with all requests processed within 24 hours. Also, how fast the funds will get to your account will depend on the payment mode you choose. For e-wallets, it could take a few hours, but for bank transfers, it can take 1-3 days.
Is my money safe with Plus500?
Any payments funded to Plus500 accounts by traders are held in a segregated bank account.
Having any money, you deposit with Plus500 means that your funds are kept in a bank that has enough capital to accommodate your withdrawal wishes even if Plus500 goes out of business for some reason.
Therefore, we can safely conclude that Plus500 is secure and safe.
While trading in financial investments, losing money rapidly due to trading CFDs is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. Plus500 also clearly state on their platform that 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Try creating two accounts when you are working with Plus500. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.
Can you make money with Plus 500?
While traders can make money on Plus500, 77% of traders lose money. Despite the high percentage, it ranks among the best industry-wide.
Is Plus 500 safe?
Plus500 is considered low-risk, Plus500 is authorized by the following tier-1 regulators: Financial Conduct Authority (FCA), Australian Securities & Investment Commission (ASIC), and the Monetary Authority of Singapore (MAS).
For variety, accessibility and affordability, Plus500 is hard to beat. For starters, the fees are low. They might not be the lowest in the industry but they’re right up there (or down there) with the best. However, what we really love about Plus500 is the wide opportunities it offers in CFD trading.
This broker not only covers all the various types of trading facilities; it also gives you the ability to buy and sell niche shares, indices, commodities and cryptos. Add to this a selection unique features, such as leverage for crypto trades, and Plus500 is perfectly set up to provide experienced traders with a comprehensive experience.
Plus 500 details
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