PLUS500 | Review | CFD Trading Platform

PLUS500 | Review | CFD Trading Platform

Disclaimer:   ‘72% of retail CFD accounts lose money’

PLUS500 | Review | CFD Trading Platform Review

Our Review

                                   

 

PLUS500

Find all you need to know about Plus500 Trading Platform.

''72% 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.''

Leverage: 1:30

Regulation: CySEC, FCA, ASIC

Min. Deposit: 100 USD

HQ: Israel

Platforms:  Custom trading platform

Found in: 2008

 

Topics 

  1. 1. Is plus 500 trusted or a scam?
  2. 2. Leverage
  3. 3. Accounts
  4. 4. Fees
  5. 5. Trading Instruments
  6. 6. Deposits and Withdrawals
  7. 7. Trading Platform
  8. 8. Customer Support
  9. 9. Education

 

What is Plus500?

Plus500 Ltd is a company with its headquarters situated in Israel, with operating subsidiaries in the UK - Plus500UK Ltd, Cyprus - Plus500CY Ltd, Australia - Plus500AU Ltd, Singapore - Plus500SG Pte Ltd.

This CFD platform provides more than 2000 CFD instruments for trading. This platform gives its traders access to various markets, including shares, indices, forex, cryptocurrencies (Availability subject to regulation.), ETFs, commodities, and options. In addition to it, this CFD platform offers an online trading platform that support more than 60 countries and 32 different languages.

Plus500’s subsidiaries are authorized and regulated in the jurisdictions in which they operate, and comply with all client money rules which mean funds are not used for hedging or other purposes.

 

10 Points Summary

Headquarters

 

Israel

Regulation

 

Regulated in Singapore, Cyprus, UK, & New Zealand

Platforms

 

Custom

Instruments

 

Crypto currency, ETFs, commodities etc.

EUR/USD Spread

 

spreads are variable/ dynamic and depend on the trading instrument.

Demo Account

 

Accessible 

Minimum deposit

 

100 $

Base currencies

 

10 base currencies accessible

Education

 

Trader's Guide section with 9 videos

Customer Support

 

Available for 24/7

 

 

Is Plus 500 Trusted Or Scam?

It is one of the most important things you know before starting a trade with any Broker. To start trade with any broker, you have to check whether this broker has been licensed or regulated by official authorities or not. If you start trade before checking the credibility of the broker then your investment would be at risk.   

The broker Plus 500 is considered trusted as it is regulated by authorities and also has a license. The company is regulated and authorized 

 'Plus500CY Ltd authorized & regulated by CySEC (#250/14).
Plus500AU Pty Ltd (ACN 153301681), licensed by: ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546.


we do not own or have any rights to the underlying assets .

 

Pros

Cons

an old broker with good history established in 2008

No such cons found

Regulated by authorities like FCA, ASIC and MAS

 

Protect the negative balance

 

Clients funds kept in separate accounts

 

 

 

Leverage

Plus 500 offers different leverage on different financial instruments. 

Plus500 offers lower leverage to crypto than other instruments because this instrument involves high risk. This CFD platform offers the following cryptocurrencies(Availability subject to regulation.) CFD trading: BTC/USD,ETH/BTC,ETH/USD,Crypto 10 Index,LTC/USD,XLM/USD,BAB/USD,ADA/USD. for all crypto CFDs options, the leverage for cryptocurrencies is 1:2 as per ESMA regulations.. It also provides over 70 + Forex pairs for trading with 1:30 leverage.

It also offers different leverage for different countries, for Australia and other countries, this CFD platform offers to trade with 1:30 leverage.

For EU residents the maximum leverage per category is different: Cryptocurrencies: 1:2; Index: 1:20; Forex: 1:30; Commodity:1:20; Stock: 1:5; Options:1:5; ETF:1:5. The maximum leverage for Singapore is up to 1:20

 

Accounts 

Plus, 500 provides a demo account to test and improve your trading capabilities without the risk of losing any money, which is a fantastic option. A demo account is easy to use, and once you are trained enough, you can convert this demo account into your real account.  

Pros

Cons

One type account

No such cons found

Fast and Free demo account for practice

 

Easy to understand and user friendly

 

 

 

 

Illustrative prices

 

How to verify account?

For opening a live trading account, plus 500 requires an ‘identity card’ and ‘residential documents’ for verification.

  1. Plus 500 requirements for verification:
  2. Id card issued by the government 
  3. Full name 
  4. Date of birth
  5. Photo
  6. Bank statement
  7. Credit/debit card statement
  8. Internet, electricity, and council tax bills

 

Fees

This CFD platform is a commission-free trading platform. It does not charge any commission when trading with plus 500. There are certain situations where trading fees will be charged as if you trade overnight, then plus 500 will charge fees dependent upon your instruments.

Plus, 500 also charged inactivity fees of 10$ if you are inactive for at least 3 months. This dormant fee will continuously set until you log in to your account.

The currency conversion fee is not charged based on the currency you deposit but based on the currency you trade. The currency conversion fee is now up to 0.7%. 

There are some more fees for which you can find information at https://www.plus500.com/FAQ/FeesCharges/DoYouChargeAnyFees

 

Trading instruments

The CFD platform offers a long list of trading instruments with its CFD services. Plus 500 gives investors access to various markets, including shares, indices, Forex, cryptocurrencies (Availability subject to regulation) , ETFs commodities, and options.

For the forex, plus 500 offers major and minor currency pairs to trade. It also provides the following cryptocurrencies CFD trading: BTC/USD, ETH/BTC, ETH/USD,Crypto 10 Index,LTC/USD,XLM/USD,BAB/USD,ADA/USD. The CFD platform also offers many stocks to trade includes global companies like Apple, Alibaba, Tesla, Facebook, etc.

 

 

Deposits and withdrawals

Plus 500 maintained customer-friendly deposits and withdrawals. Plus 500 provides a smooth and easy process for a transaction without any charges. However, in a certain situation, this platform also charged fees. For example, if you deposit in a currency that is different from your account currency then the broker will be charged 0.7% of currency conversion. But if you deposit in your account currency then this process will be done without any charges. There is another rule that you have to pay 10$ fees if you exceed over 5 withdrawal transactions. 

 

Plus 500 offers several methods for deposit and withdrawals:

  1.  Master and Visa cards
  2. Digital wallets like PayPal and Skrill
  3. Bank transfer 
  4. Plus 500 Minimum deposit

Minimum deposit amount is (100 EUR/USD/GDP) and AU$200 the deposit is not determined by the method of payment.For debit/credit card and digital wallet the transaction will be processed within one hour. But bank transfer can take one day for the transaction to be done.

 

Trading platform

Trading with plus 500 can be carried out anytime and anywhere, using all types of devices including web, android, ios. This platform is user-friendly as if you want to open a position you can search and choose an instrument you wish to trade. There is an option of ‘charts’ to explore the past performance and you can create ‘alerts’ to get notifications about the price and percentage changes and if you want to get a basic knowledge of trading you can go to the “Trader guide” option. Videos are available for your primary guidance.

When it comes to security this trading platform assured that all sensitive data and information such as your credit card number and passwords provided to plus 500 are automatically transferred via SSL encryption to a secure environment.

This platform also offers online trade with 300 countries and supports 30 different languages including French, Italian, German, English, Spanish, Portuguese, and many more. The one only cons of this platform is that it doesn’t provide Metatrader 4 and Metatrader 5 trading platform to its users. This broker offers its custom trading platform that is not like other platforms.

This CFD platform offers its custom trading platform that is not like other platforms.

 

Customer support

Nowadays, providing customer support to its customer and users, whether it is business or website, is becoming indispensable. Every firm tries its best to provide the best and quality support to its customers at the time of need. They prefer to hire a team of professionals who can communicate effectively with customers.

Plus 500 also offers customer support named as “24/7” at the bottom of its website. Users can consult them to solve their problems by clicking on “24/7”.

 

Pros

Cons

Offer Whatsapp, live chat and email support

No such cons found

professional team can communicate effectively in various language

 

Available 24/7

 

 

 

Education

Plus, 500 does not offer such a thoroughly special trading course for its beginner trader while having a long history. But as compared to other CFD platforms, it has separate video sections named ‘Trader’s guide.’ This section presents basic knowledge of trading to its users, This CFD platform also contains frequently asked questions FAQs.

Pros

Cons

Charts to explore past performance

No advanced education like webinar

Provide economic calendar

No support for everyday trading

Demo account for practice

 

 

Conclusion

Our review concludes that having a good history of 12 years, Plus 500 has now become a more trustworthy CFD provider, with a variety of financial safety instruments. Plus 500 is considered a secured broker to trade or invest, due to its regulations by FCA, CYSEC, and MSA authority. Plus 500 has upgraded its many features with time and now it attracts a lot of traders.

 

FAQS

Does Plus500 offer any swap free accounts?

Yes, it does offer a non-swap Islamic account.

Is Plus500 accessible for US clients?

No, it is not accessible for clients from the US or Canada.


Does Plus500 take any commission?

Plus 500 Charge other fees as well - inactivity, overnight, and currency conversion

 

 

 

PLUS500 | Review | CFD Trading Platform

PLUS500 | Review | CFD Trading Platform Licenses:

Plus500CY Ltd - approved and under regulation by CySEC having registration no. #250/14

Plus500 UK Limited - registered by FCA with registration no. # 509909  


Plus500SG Pte Ltd, licensed by the MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2018).

Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039).

Plus500AU Pty Ltd (ACN 153301681), licensed by:
ASIC in Australia, AFSL #417727,
FMA in New Zealand,
FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546.

Leverage:
1:30

Regulation:
FCA, CYSEC, and MSA authority

Min. Deposit:
(100 EUR/USD/GDP) and AU$200 the deposit is not determined by the method of payment

HQ:
Plus500 Ltd is CFD provider a company with its headquarters situated in Israel, with operating subsidiaries in the UK - Plus500UK Ltd, Cyprus offers over 2000 CFD instrument.

Platforms:
Custom

Found in
2008

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