Plus500 Information
Plus500 is an online trading platform that offers 2,800 Contracts for Difference (CFDs) on cryptos, indices, forex, commodities, shares, and ETFs. It was founded in 2008 and is headquartered in Israel, with additional offices in the UK, Cyprus, Australia, and Singapore. Plus500 is authorized and regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Australian Securities and Investments Commission (ASIC) in Australia. The platform is available in more than 50 countries and supports over 30 languages.
Pros & Cons
Plus500 is a good option for traders looking for a user-friendly platform to trade a wide range of markets and instruments, with competitive spreads and no commissions.
However, traders who require MT4 and MT5 trading platforms, or do not want to pay for an inactivity fee may need to consider other brokers.
Is Plus500 Legit?
Plus500 is also publicly traded on the London Stock Exchange, which provides additional transparency and accountability. The broker has been in operation since 2008 and has a large and established customer base.
However, it is worth noting that no broker is entirely risk-free, and traders should always do their own due diligence before depositing funds with any broker.
How are you protected?
Plus500 takes several measures to ensure the safety and protection of its clients, and the fact that it is a regulated broker provides additional reassurance to clients.
Here is a table outlining how Plus500 protects its clients:
Our Conclusion on Plus500 Reliability:
Overall, Plus500 appears to be a reliable broker with a strong emphasis on client protection. The company is regulated by multiple reputable financial authorities, has a robust risk management system in place, and offers risk management tools to clients. Plus500 also uses encryption technology to protect clients' personal and financial information.
However, it is important to note that no broker is completely risk-free, and clients should always carefully consider their investment goals and risk tolerance before trading with any broker.
Market Instruments
Plus500 offers 2,800 CFDs, including 65 Forex CFDs, 1,623 Stocks CFDs covering equities from global markets, 34 Indices CFDs on major indices like the S&P 500, Nasdaq, and FTSE 100, 23 Commodities CFDs on precious metals, energies, and agricultural products, as well as Cryptocurrencies CFDs on popular digital assets such as Bitcoin, Ethereum, and Litecoin.
Accounts
Plus500 offers two types of accounts: a live trading account and a demo account.
The live trading account requires a minimum deposit of $100 and provides access to real-time market prices and trading in over 2,800 instruments. Traders can use leverage of up to 1:30 for retail clients and up to 1:300 for professional clients. The live account offers various features such as stop loss, take profit, and guaranteed stop loss orders. There are no commissions charged on trades. Instead, the company earns money through the bid-ask spread.
The demo account is free and allows traders to practice trading using virtual funds with access to the same trading instruments as the live account. It is a great way for traders to learn how the platform works, practice trading strategies, and get familiar with trading instruments before investing real money. The demo account is available for unlimited time and can be used to test new trading strategies without the risk of losing real money.
Leverage
Plus500 offers leverage for different financial instruments. The maximum leverage offered depends on the instrument and the jurisdiction where the trader is located. In general, the leverage for forex trading can be up to 1:30 for retail clients in the European Union, and up to 1:300 for professional clients.
For other instruments, such as stocks, commodities, and cryptocurrencies, the leverage can vary between 1:5 and 1:30 for retail clients, and up to 1:300 for professional clients.
It's important to note that higher leverage can amplify both profits and losses, and traders should use it with caution and proper risk management.
Spreads & Commissions
Plus500 offers floating spreads on all trading instruments, meaning the spreads can fluctuate based on market conditions. The spreads for major currency pairs like EUR/USD is to 0.00016. Plus500 does not charge any commission on trades, and their revenue comes solely from the spreads offered.
Trading Platforms
The Plus500 trading platform is an in-house developed web-based platform that can be accessed directly from the Plus500 website. The platform is user-friendly and intuitive, making it easy for traders to navigate and trade various financial instruments. It is also available in several languages.
The Plus500 trading platform offers several advanced features, including price alerts, real-time charts, and technical analysis tools. The platform also includes a demo account that traders can use to practice trading without risking any real money.
Overall, the Plus500 trading platform is well-designed and functional, but it may lack some of the advanced features found in other trading platforms. See the trading platform comparison table below:
Deposits & Withdrawals
Plus500 accepts payments via Visa, MasterCard, PayPal, Skrill, Apple Pay, and Google Pay.
Plus500 does not charge deposit or withdrawal fees, but some payment providers may charge transaction fees, which should be checked with the provider directly. Plus500 also requires users to withdraw funds using the same payment method that was used for depositing funds, up to the deposited amount. Any excess profits can be withdrawn using any other payment method supported by Plus500.
Minimum Deposit Requirement
The minimum deposit requirement for Plus500 varies depending on the jurisdiction and the account type. In general, the minimum deposit is $100. For example, in the UK, the minimum deposit is £100. In Australia, it is AUD 100, and in the EU, it is €100. It is recommended to check the specific minimum deposit requirement for your country and account type on the Plus500 website.
Plus500 minimum deposit vs other brokers
Fees
Plus500 charges overnight funding fees for holding positions overnight. There are no fees for deposits and withdrawals, and inactivity fees only apply after three months of inactivity.
The overnight funding fee is a cost incurred for holding positions overnight and can be a credit or debit to your account depending on the direction of the position and the prevailing interest rates. The funding rate varies based on the instrument traded.
It is important to note that Plus500 may also charge additional fees for certain actions like guaranteed stop-loss orders or currency conversions.
Overall, while the fees for Plus500 are relatively low, traders should be aware of the potential for higher overnight funding fees, as well as any additional fees that may apply for certain actions.
See the fee comparison table below:
82% 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
Plus500 also offers two additional proprietary platforms, namely Plus500Futures and Plus500 Invest, with Plus500Futures primarily focusing on futures trading.
Plus500Futures Review
Plus500US is the exclusive Futures trading platform of the global Plus500Ltd, available only for US clients. Claimed to operate under CFTC and NFA oversight, Plus500US offers U.S. customers access to markets like cryptocurrencies, Equity Index, Energy, Metals, Forex, Agriculture, and Interest rates via Futures.
You get diverse market access via a wide range of contracts: Trade CME-listed futures such as Gold, Bitcoin, S&P, and more, in addition to real-time market data, allowing you to access accurate and timely market information, and 24/5 access to trade global markets during active hours.
Plus500 offers flexible payment methods, among which are Google Pay, Apple Pay, and debit cards with a minimum deposit of $100.
A commission-free welcome bonus of up to $200 is also available (T&Cs apply).
Plus500US offers zero fees for platform access, market data, and order routing. Intraday margins are competitive, with products like Ether futures starting at $20, giving traders affordable access to leveraged futures.
The Futures Academy includes free materials for all skill levels. Live webinars provide strategy training from professionals. 24/7 live chat support is available for trading or technical questions - no phone calls needed.
The platform is easy to use, built for both beginners and experienced traders. It works well on both desktop and mobile. It includes key features like:
- Stop loss and trailing stops
- Auto-liquidation for risk control
The Plus500 Futures platform is offered by Plus500US and is available only to US traders.
Plus500 Invest
The platform supports share dealing with access to over 2,700 financial instruments, includes free market data, and offers dedicated 24/7 customer support.
*Note: Plus500 Invest is currently available in select countries.
Additional features:
• No charges for withdrawals
• No fees for deposits
• Competitive trading commissions
• No platform usage charges
• No custodial fees
• Integrated analytical charts and drawing tools (included)
• Support for multiple order types: market, stop, and limit orders
• Notifications via email, SMS, and push for order updates, corporate actions, and announcements (included)
Education
Plus500 provides rich educational resources on their website, which includes trading academy, trader's guide, beginner's guide, webinars, ebook, FAQ, and news. The educational resources cover topics such as trading basics, technical analysis, and risk management.
Conclusion
Overall, Plus500 is a reputable and reliable online broker that offers a user-friendly trading platform, competitive spreads, and a wide range of trading instruments. It has a strong regulatory framework and offers various measures to protect its clients. Plus500 also provides excellent customer service with 24/7 support.
However, Plus500 does have some drawbacks, such as no popular MT4/5, limited contact channels and relatively high inactivity fees.
In summary, Plus500 is an excellent option for beginner traders who are looking for a straightforward and easy-to-use trading platform with a low minimum deposit requirement. It is also a good choice for experienced traders who prioritize a strong regulatory framework and reliable customer service over advanced trading features.
Frequently Asked Questions (FAQs)
2024-04-28 14:43
2023-03-01 10:08
