Plus500 Review and Tutorial 2018
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|Plus500 Facts & Figures|
Plus500 Offer CFD and forex trading via the popular Webtrader online trading platform. With tight spreads and no commission, they are a leading global brand.
|Instruments||CFD, Forex, Crypto|
|Min. Trade||Varies by asset|
|Regulated By||FCA, CySec, ASIC|
|Mobile Apps||iOS, Android and Windows|
|FTSE Spread||1.2 pts (Variable)|
|GBPUSD Spread||.0002 (Variable)|
|Oil Spread||3 pips (Variable)|
|Stocks Spread||From 0.08% (Variable)|
|GBPUSD Spread||0.0002 (Variable)|
|EURUSD Spread||.0006 (Variable)|
|EURGBP Spread||.00013 (Variable)|
Plus500 is a leading online Contract for Differences (CFDs) trading platform that is owned by a holding company called Plus500 Ltd. Plus500 Ltd is listed on the Main Market of the London Stock Exchange. Operating through 3 different subsidiaries, Plus500UK Ltd, Plus500CY Ltd and Plus500AU Pty Ltd, the Plus500 brand is synonymous with reliability and safety.
This is largely due to the fact that Plus500 (or subsidiaries) are regulated in several different jurisdictions around the world. Apart from being regulated by some leading agencies, Plus500 is also an active sponsor of professional Soccer and Rugby teams. Since 2016, Plus500 is the official sponsor of Club Atletico de Madrid.
80.6% 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.
Regulation & Reputation
Since its inception in 2008, Plus500 has earned a reputation among traders in the online community as being a broker that is reliable and trusted. Plus500 Ltd is listed on the Main Market of the London Stock Exchange, which also helps to bolster the broker’s reputation as being financially stable. In terms of regulatory oversight, Plus500 subsidiaries are regulated by several regulatory agencies:
Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).
Plus500CY Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).
Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorised to issue these products to Australian residents. Derivatives issuer licence in New Zealand, FSP #. 486026 authorises us to issue these products to New Zealand residents. Plus500AU Pty Ltd, is also an authorised Financial Services Provider in South Africa, FSP 47546.
With subsidiaries as regulated entities under the UK’s FCA and CySEC, Plus500 is able to work with traders from Europe and the UK. Clients can therefore take advantage of the benefits of being protected under the Financial Services Compensation Scheme (FSCS) and Investors Compensation Scheme. For full details of the protection these schemes offer, visit Plus500.
Although Plus500 uses a proprietary trading platform, the trading platform is able to cater to the different needs of the broker’s international clientele base, as it is available across several different versions. There is a desktop version of the trading platform which Plus500’s traders can download and install onto their computers.
For those who wish to trade directly from the internet, Plus500 has also provided a web-based version of their trading platform which can be accessed with any web browser. The key difference between Plus500 trading platforms and the platforms provided by other brokers in the industry is the fact that Plus500 trading platforms work seamlessly with each other.
A mobile version of Plus500 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 for Google Playstore or Apple App Store.
Plus500 has only provided one type of trading account, a standard trading account. The standard trading account requires a minimum deposit of $100 to open. With Plus500 recent system upgrade, the broker has upgraded all their clients’ trading accounts to a Gold account status. With this recent enhancement, existing account holders will pay lower premium fees. However they will be subjected to a higher minimum trade volume.
Apart from the standard trading account, Plus500 has also provided a free unlimited demo account which potential clients can use to test out the performance of Plus500’s trading platform. Even existing traders will get to benefit from the demo account since they can also use the account for trading practices.
Offers & Promos
Recent regulatory changes have meant that Plus500 have ended all sign up, or deposit promotions. Regulators feel that these types of offer encourage over trading, or larger deposits. As a regulated firm, Plus500 have adhered to the new guidelines and no longer offer any offers or promotions.
Assets & Instruments
Naturally as a well-established broker, one would expect Plus500 to cover a wide range of markets. Traders will be pleased to know that there are more than 2000 instruments to choose from. These underlying assets include major asset classes such as currency pairs, cryptocurrencies, commodities, ETFs, options and stocks. Available leverage is as high as 1:30.
While the support service at Plus500 is available 24/7, it is only available through email or live chat. So although their website is available in 32 different languages, there is no telephone support.
Deposit & Withdrawal
Available payment and withdrawal methods at Plus500 are Credit/Debit Card (Visa or MasterCard), PayPal, Skrill (Moneybookers), or Bank Transfer.
The same methods can be used for making deposits and withdrawals. For withdrawals, the processing time is 3 business days. It should be noted that all withdrawal methods have a minimum amount threshold and you can only withdraw through the method that you used initially for making your deposit.
Is Plus500 Best For Day Trading?
Without a doubt, Plus500 operates with a high standard of efficiency and reliability. Their trading platform while proprietary is able to perform the job of executing trades quickly. In addition, there is a wide range of assets for you to choose from to trade with. As a day trader, it is important that you can execute as many trades as needed within a short time frame. With Plus500’s huge asset index, you will be able to do just that, without difficulties. In addition, the fact that you can open and close a CFD position at any time during trading hours, means you can review and amend your positions however you need to.
What is the minimum deposit requirement to open a trading account?
The minimum deposit requirement at Plus500 is $100.
How fast can my withdrawal request be processed?
The typical processing time for a withdrawal request ranges from one business day to three business days.
Is Plus500 a reliable broker?
Yes. Plus500 is a reliable broker. They have been operational since 2008 and subsidiaries are regulated in several countries around the world including the UK, Singapore and Australia.
What kind of trading platform does Plus500 have?
Plus500 uses a proprietary trading platform to provide their traders with access to the financial markets.
What is the maximum leverage available at Plus500?
The maximum leverage offered by Plus500 is 1:30 as per regulatory guidelines. Leverage varies by asset. Traders in Non-EU regulated markets can utilise higher levels of margin. 1:30 is a limit imposed by ESMA in European Economic Area only.
Plus500 accepts traders from Australia, United Kingdom, South Africa, Singapore, Hong Kong, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Plus500 from Belgium, Iran, United States, Canada, Zimbabwe, Nigeria, Cote D’Ivoire, Cameroon, Thailand, India, Indonesia.
|Plus500 Offer CFD and forex trading via the popular Webtrader online trading platform. With tight spreads and no commission, they are a leading global brand.|