• Category: Reviews

Plus500 Review

Plus500 Forex CFD
Plus500 is one of the first brokers to make contract for difference (CFD) trading available to retail customers. Founded in 2008, the CFD provider has operations in Israel, London, Cyprus and Australia. Plus500 UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909). Plus500 CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (License No. 250/14). Plus500AU Pty Ltd, AFSL #417727 issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents. You do not own or have any right to the underlying assets.

Plus500 Review

Plus500 is listed on the Alternative Investment Market of the London Stock Exchange. The broker has become increasingly popular for its innovative trading platform and reliable customer service. 

Company Plus500 Ltd
URL www.plus500.com
Founded 2008
Based in London
Platform Software, Web trader, iPhone app, iPad app, Android app, other mobile versions.
Regulation FSA, CySec, AsiC
Languages English, Italian, German, French, Greek, Hebrew, Dutch, Arabic, Polish, Chinese, Japanese, Bulgarian, Croatian, Czech, Danish, Estonian, Finnish, Hungarian, Korean, Latvian, Lithuanian, Malaysian, Norwegian
Currencies USD, EUR, GBP
Deposit Methods Credit card, Wire Transfer, Skrill, Paypal
Withdrawal Methods Credit card, Wire Transfer, Skrill, Paypal
Minimum 1st Deposit £/€/$100
Minimum Trade N/A
Bonus N/A
Payout N/A
Account Types Non-premium, Silver, Gold, Platinum, VIP
Return to Loss NA
Number of Assets +1000
Types Of Assets Forex, Stocks, Commodities, Indices, ETF's
Expiry Times Pair options, up/down, Kiko
Welcome Bonus N/A
Demo account Yes
Mobile trading Yes
USA friendly No
Support E-mail: support@plus500.com
fax 44 203 002 7290
Overall Score 85/100

PLUS500 PROS

Yes User-friendly, minimalist trading platform
Yes Low initial deposit
Yes Large pool of tradable instruments
Yes Regulated by FCA, ASIC, CySec
Yes Low spreads per trade

PLUS500 CONS

No No telephone support
plus500

PLATFORM

Plus500 has its own in-house trading platform that comes in five versions—Software, Web trader, iPhone app, iPad app, Android app, other mobile versions. In many ways, this intuitive platform works better than some of the more popular forex trading software.

The Plus500 trading platform is minimalist, avoiding to overload traders with too many confusing features. The simple, minimalist interface makes Plus500 a favorite choice for traders who are getting started in the world of forex trading.

The trading platform lets traders to access numerous markets from the same screen while also providing quotes on products in real time. On the same screen, traders can also access information about current and past trades as well as the corresponding trading charts.

plus500 platform

ACCOUNT TYPES AND BONUSES

Plus500 offers two types of accounts. These include:

Demo account - This is a free to open and use account. While it looks and feels like a real account, you cannot trade using real currency on a demo account. If you would like to first test how Plus500 works, you could first get started with a demo account.

Live account - This is an actual, real account on which you can use real currency to start trading. A minimum deposit of $100 is required to start trading the account. Plus500 may also offer up to $25 as a welcome bonus (T&Cs apply) on both the demo account and the live account. Traders may also enjoy a maximum leverage of 1:294 on forex accounts.

TRADE TYPES AND ASSETS

A major advantage of trading CFDs is that you can have access to multiple markets or trading instruments. Plus500 is no exception—traders can access a wide array of markets including bonds, shares, ETFs, indices, commodities and of course, forex pairs.

Unlike binary options that have trade types such as one-touch options, hi-low, ladder options etc., CFDs do not offer those options. As a CFD broker, Plus500 simply lets you go short or long on the underlying asset, depending on your speculation of the market prices.

plus500

PAYMENTS-DEPOSITS

Plus500 offers several safe and efficient methods for depositing funds into your trading account.

Debit/credit card- Transfer funds to your trading account safely using your MasterCard or Visa card. This is the fastest way to deposit funds to your account.

To deposit funds using your MasterCard or Visa, simply select the tab ‘Funds Management’ on the Plus500 official website. Then, click on ‘Deposits’ for easy instructions on how to transfer the funds from the card to your trading account.

Timeframe: Immediately

MoneyBookers - Also known as Skrill, Moneybookers is an electronic wallet that lets you transfer money online from one recipient to another. This is an equally safe and fast way to make deposits into your trading account.

To fund your account using Skrill (Moneybookers), select the ‘Funds Management’ tab on the Plus500 official website. Select ‘Skrill (Moneybookers)’ as your payment option and then provide your email account. You will be directed to a new window where you can complete the transaction.

Timeframe: Immediately

Wire transfer Plus500 lets you deposit funds directly from your bank account to your trading account safely and reliably.

To fund your account directly using your bank account, select the ‘Funds Management’ tab on the Plus500 official website. Select ‘Deposit’ and then ‘Wire.’ Click on the ‘Send me wire details’ options to receive details from Plus500 on how to wire funds from your bank account to your trading account.  

Timeframe: Up to 5 business days

For wire transfers, a minimum deposit of $300 is required while the maximum amount you can deposit is $100,000. For all other methods of depositing, a deposit of $100 is required to start trading.

plus500 forex

PAYMENTS-WITHDRAWAL 

Withdrawing funds from your Plus500 account is fast and secure. You can withdraw funds using the same method you use to deposit funds to your trading account.  Withdrawals take the same duration of time as deposits depending on the payment method.

Note; Traders are required to provide an official photo identification and to verify their address before they can be allowed to withdraw funds.

Plus500

TOOLS AND FEATURES

Plus500 offers several unique features and tools that help to simplify trading and to make it more enjoyable.

Close at profit/close at loss- This feature lets traders mitigate risks by setting price levels at which the trade should automatically close to ensure they recoup profits and minimize losses.

Price alerts- Traders can set a specific buy or sell price and receive alerts when prices reach these specified levels. Price alerts do not stop the trade altogether; instead, they keep the position, allowing you to determine what action to take to make the most of the market.

Trailing stop- This tool works in the same way as the stop loss. When placed at the start of a trade, the trailing stop will lock in profits by closing the trade at its new level and not at the level you had initially placed it. This strategy automatically mitigates any risks in the event of a price decline.

Free demo- Traders who want to try out the Plus500 trading platform before investing on it can do so using the free demo account. You can practice using the demo account for an unlimited amount of time. Few CFD brokers offer free demo accounts.  

CUSTOMER SERVICE 

Plus500 offers reliable customer support via email, fax and chat for 24 hours, seven days a weekend. The company does not offer telephone support at the moment.

NOW OPEN YOUR PLUS500 ACCOUNT

Plus500

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General Risk Warning: The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose. Your capital may be at risk. This material is not investment advice.

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