Plus500 Review

  • Regulated by: ASiC, CySEC, FCA
  • Headquarters: Israel
Website : Plus500.com
Established : 2008
Country : Israel
U.S. Clients Allowed : No

plus500 broker

Owned and managed by a Plus500 Ltd, a public company listed on the London Stock Exchange AIM market, Plus5000 is a world – renowned online CFDs broker for financial assets such as Forex, ETF, stocks, commodities and indices. Plus500 Ltd was listed in the year 2013, and by 2014 has already reached the net value of 1$ billion. As of today, Plus500 Ltd manages several subsidiaries under the Plus500 brand.

Plus500 Regulations

Plus500 is regulated by various entities corresponding to different territories. It is regulated by Uk’s Financial Conduct Authority (FCA, FRN 509909) under the name Plus500UK in the UK; by CySEC (Licence No 250/14), in Cyprus and Australian Securities and Investments Commission (ASIC, AFSL #417727) for Australian, New Zealand and South African territories. Regulated with over three regulatory bodies, Plus500 offers a secure environment to cater to different trading needs with over 2000 instruments.

Reliability

With a presence of over two decades, Plus500 is an established name in the market. Innovation and integrity is what the broker prides itself on. Constantly introducing new products and services to meet their clients’ trading needs, Plus500 is a market leader. Innovation and experience is not the only criteria to judge the success of Plus500; it is a publicly listed company on the London Stock Exchange AIM; this only adds to Plus500’s credibility. Furthermore, it abides by the strict regulatory compliances laid down by the regulatory bodies in three countries namely – UK, Cyprus and Australia.

Listed below are some of the practises that make Plus500 even more secure:

  1. Plus500 maintains segregated accounts for client’s funds as per the Financial Conduct Authority sec. Client’s money rules
  2. Plus500 uses its own funds for hedging and does not pass client’s money through hedging counter-parties
  3. Plus 500 has no corporate or sovereign debt
  4. Plus 500 stays away from making investments in retail clients

Plus500 Trading Platforms

plus500 platforms

Plus500 has its own proprietary trading platforms, both web-based and in the downloadable format. No installation is required to run the web-based version and hence is a preferred choice amongst many traders to access the market from any country in the world. The downloadable version is compatible with both Windows and Mac software.

Mobile Trading Platforms

Along with the web-based version Plus500 also offers mobile version of their programme in the form of apps, available on Android and IOS and Windows devices. This makes it extremely convenient to access the market on the go and can be used by traders to stay on top of things and keep a tab on the market around the clock.

User Interface

Plus500 has put in a lot of efforts to make their platform as user friendly as possible. The interface is easy to navigate through for any level of trader. The screen is divided into 3 main parts. The menu bar is located to the left; the main screen is divided into two parts; the top part displaying assets available for trading and the lower part displaying charts. You can view the charts in either line or candle stick layout. Plus500 also provides overlay features for more in-depth analysis of price movements. It provides the option adjust the timeframe from a minute to a week view.

The platform also features the following key functions:

Close at Profit: This feature allows you to close a stock once it reaches the assigned profit level.

Close at Loss: This feature allows you to close a stock once it reaches the assigned loss level.

Guaranteed Stop: This feature comes in handy for markets that are extremely unstable. It lets you absolute limit to your potential losses in case of a spillage.

Price Alerts:  A price alert notifies the trader once the asset has reached a specified price.  Unlike the other feature it does not close any asset, it mere notifies about its latest happenings.

Plus500 Account Types

Plus500 has maintained simplicity in their account offerings, to not complicate things– Standard (Real Money) & Demo (Virtual Money) account. The application process to open an account is simple. In case of needing any assistance you have the option of contacting chat support manager by clicking on live chat button in the left bottom of the screen. To open an account, you simply have to click on “Create Account” button and follow the instructions and after verification formalities will be finalized you will be directed straight to the trading screen.

Demo Account is beneficial to the traders who are just getting started in the market and is definitely worth a try, plus you can always switch to a real money account as and when you want.

Cryptocurrencies Trading

Plus500 offers CFDs in cryptocurrencies along with traditional instruments such as indices, stock, forex and commodities. Paired against the US dollar, one can trade the cryptocurrencies against one of assets covered by Plus500 CDFs offerings. Trading with cryptocurrencies is far more affordable as you are trading with a derivative contract and not the actual currency; you also have the freedom to select long or short terms for your trade. The pairings offered by Plus500 at the present are as follows:

  • BCHUSD
  • BTCUSD
  • ETHBTC
  • ETHUSD
  • LTCUSD
  • XRPUSD

The added advantage is the leverage that Plus500 offers on crypto-trade, it offers 1:30 leverage on Bitcoin and Ethereum and 1:10 on less popular currency like Ripple and Litecoin. To sum it up, crypto trading is not only affordable but you also leverage your trades.

Commissions and Spreads

Unlike most online brokers, Plus500 has no commissions on trade; instead it is a requisite for the traders to pay tight spread on the assets they are trading in.

Deposits & Withdrawals Options

The deposits and withdrawals at Plus500 are safe, simple and straightforward, you can use the following channels for the same:

  • Credit/Debit Cards
  • Bank Wires
  • Skrill
  • Paypal

For withdrawals, it takes around 1 to 3 working days to process a withdrawal request; once approved it takes a few additional days for the funds to reach your account depending on the medium of the transaction.

Bonus & Promotions

A welcome bonus and a deposit bonus are the two types of bonuses offered by Plus500 to the traders. A trader gets a on-deposit bonus of £20 (or equivalent in account currency) once the trader has verified his mobile number with Plus500.

The amount a trader can claim for the deposit bonus is dependent on the amount deposited by the trader and the total trader points held by the trader. For the minimum deposit details you can refer to their website.

Plus500 Customer Support

A multi-lingual, 24/7 basis customer support is available at Plus500. Two options – Live chat and email are available to the traders to get in touch with the support. Plus500 believes in localised experience, hence their website is available in 31 different languages.

Plus500 Pros and Cons

Pros

  • Demo account
  • Welcome bonus.
  • Multiple jurisdictions regulations
  • User friendly navigation and interface
  • Array trading assets
  • Excellent quality mobile platform
  • London-Stock Exchange listed

Cons

  • FAQ are hard to find
  • No metatraders for the platform
  • No educational support on trading.

Conclusion

Being an experienced player in the market, Plus500 has been able to establish trust amongst the trading community, what adds further to its credibility is the fact that it is listed with the London Stock Exchange AIM. Plus500 has a wide range of instruments and its web-based trading platform is of top quality. We think it’s an ideal platform for traders to engage with.

Plus500 Rating

Plus500 Rating
9.4

Easy to use

9.4 /10

Fees

9.4 /10

Support

9.4 /10

Payment

9.4 /10

Pros

  • Demo account
  • Welcome bonus
  • Multiple jurisdictions regulations
  • Array trading assets
  • London-Stock Exchange listed

Cons

  • FAQ are hard to find
  • No metatraders for the platform
  • No educational support on trading
Ricardo Martinez

Ricardo Martinez

Ricardo Martinez has been active in the financial markets for around 10 years. In the early days in his career he was a trader and worked as market analyst in different online brokers advising clients on key decisions of trading instruments in foreign exchange and commodity markets. Ricardo is currently working as independent trader with diversified portfolio over different markets. His writing for LearnMarketonline is part of his commitment to share knowledge with traders.