Plus 500 Review

Founded in 2008, Plus500 is a CFD broker listed in the London Stock exchange. Offering instruments such as cryptocurrencies, commodities, shares, options, and ETFs, this broker is regulated by the Financial Conduct of Authority(FCA) in the UK and the Australian Securities and Investments Commission(ASIC). With a trusted broker such as Plus500, your trading is secure. It is controlled by top-notch financial institutions, listed in the stock exchange, and unveils its financial records. With this type of broker, you have to understand how CFDs work and risk a lot of money. Trading with Plus500 is worth it but involves a high risk of losing money. Try a leading currency broker today, you too!

The registration process is quite easy and fast. Within a day, your account creation is processed, and you can transact. There is just one type of account, the retail account. However, you can send your application to a professional account if you satisfy 2 of the following conditions. Adequate activity in operations for the last 12 months, your financial instrument investment must be over 500,000 Euros and a sufficient amount of experience in financial markets transactions and services. If you want to register, you'll have to give the required information on their website and verify your identity and area of residence later. First, you will have to visit the site and click the register option, where you will be required to give your email address and the password you'd like to use. After registering, you can verify your identity and residence and deposit money. There is a variety of documents you are allowed to use for your verifications. For your identity, you can use your passport or ID. Still, for your residence authentication, a utility bill or bank statement can work. You can use the other documents your driver's licence, toll taxes letter, salary slip, or residence permit. Plus500 offers you top-tier security with two-step verification on creating the account. To familiarise yourself with the account, you can use the demo account to practice and observe the CFDs trading. Sadly, you cannot open an account if you are from Canada or the US.

You can use up to 30 times the leverage on the Plus 500 when trading currencies.

The two types of fees, trading fees, chargeable during trading transactions, and non-trading fees, are indirectly connected to actual trading. Trading fees can be commissions, conversion of currency fees, and financing rates. However, non-trading fees examples are withdrawal fees and inactivity fees. Trading feesThere are a few types of trading related fees that nice to be aware of:Conversion feesPlus500 will charge you a 0.7% conversion fee if you have a different currency from the base currency. To avoid this, you can decide to open a digital bank account supporting various currencies. We recommend depositing in GBP if you live in the UK. CFD feesThese charges are relatively average, not low, depending on the amount you put in and the time it is held. Other than that, there is no commission fee charged. Forex FeesThe fees are average, just like CFD fees, and don't include commission charges. The costs chargeable depend on the leverage, the amount invested, and the time the instrument is held. Non-trading feesYou don't get charged on withdrawal, deposit, or account fees. Non-activity fees can be charged after a three-month-long period of inactivity. This is $10 that you can avoid by just logging in regularly, not necessarily being active trading. Other brokers will charge you an inactivity fee if you dint participate in trade.

There are various deposit and withdrawal options, from bank transfers to electronic wallets. Nonetheless, some regions may have restrictions to some methods, so be careful to note those allowed in your area of residence. For debit and credit cards, you can transact with Visa or Mastercard, which are the only ones accepted and may be limited in some areas. The payment is instantaneous as it is completed almost immediately.For bank transfers, bank to bank, it may take you some business days to be processed. While you can only make deposits from accounts under your name. Electronic wallets, Paypal and Skrill, offer instant payments and deposits, unlike bank transfers.

+ The platform's interface is user friendly.
+ Simple to open an account.
+ The support is great and accommodative in case of any issue.
+ This broker's site offers a two-step login, making it very secure.

- They offer only ETF and CFD products for your portfolio.
- The research tools could improve.
- You cannot customise your workspace on the web trading platform.

This Broker has a mobile phone app for both android and apple devices, but it lacks a desktop app. However, the web trader Plus500 trader can be accessed through their website by phone and a desktop. The website has an excellent feel, is easy to use, has a neat organisation, and can even switch to dark mode. Although you can't customise your workspace layout, the default layout is pleasing to the eye. Several languages are offered in the apps and the website, ranging from Hebrew, Bulgarian, Polish, Arabic, Romanian, etc.This platform offers CFD instruments like Cryptocurrencies, commodities, shares, options, Forex, indices, and ETFs. These CFDs are pretty risky, and therefore, you need to figure out how they work before indulging in transactions.CryptocurrenciesThese are virtual currencies that offer secure decentralised transactions with leverage of 1:5. Some examples are Ethereum, Litecoin, Cardano, and bitcoin. Plus500, to be specific, offers you trading of these currencies without necessarily possessing them. Crypto CFDs can be traded on any of the 7 days of the week because of their 24 hour operating time. Trading is active as buying and selling are equally available options. To prevent you from extreme loss with this very vulnerable instrument, Plus500 has various features such as the stop loss and the trailing loss to help you oversee your transactions. Remember, you don't have any ownership right to the cryptocurrency CFDs you trade. How is the platform for forex trading?Plus500 has nearly 70 currency pairs to trade in, say the GBP versus the Euro or the USD against the GBP. Forex CFDs offer you insane leverage compared to Forex, 1:300, where you get 300 times what you put in because you just commit a little to gain a lot. You need to remember the likeliness of earning a huge profit is equal to the probability of experiencing a hefty loss. To ensure you don't suffer major losses, you can use the stop loss and stop-limit features to lock in your profits or avoid further losses. How is the Plus500's platform for commodities?Gold, silver, and gold are just some of the most valuable commodities offered by Plus500. Trading CFD commodities has a leverage of 1:150. There are other commodities you can trade, including corn, palladium, natural gas, and copper. Funding can be done through credit/ debit card, skrill, bank account, or PayPal. With free notifications being offered, you can monitor your trading services. Guaranteed stop, stop loss and stop limit are features you can get to regulate your profits, lock them or reduce the loss you incur as you trade.

Plus500 dont offer any corporate account for forex trading. We recommend that you look into either Skilling or CMC Markets instead in case you need a corporate forex account.

Through live chat and email support, you can get answers to the questions you may have at any time of day or night. There is no phone support nor a Whatsapp helpline which was used previously. The live chat, although, is quite reliable and fast. You have an option of rating the customer care agent right after the conversation has ended. On the other hand, you can receive feedback in as fast as an hour for email support.The fact that they are available 24 hours a day makes the real difference compared to other brokers.

Plus 500 are licensed within EU, for example Cyprus, according to the below jurisdiction(s).

EU license, in Cyprus: Yes, Plus500CY Ltd, #250/14.
License in the UK: Yes, Plus500UK Ltd, FRN 509909
License in Australia: Yes, Plus500AU Pty Ltd (AFSL #417727)
Other License(s): Yes, Plus500SG Pte Ltd (UEN 201422211Z), Singapore, CMS100648-1, Israel Securities Authority (ISA)

Can you trade commodities at Plus500?

Gold and silver are also available to trade, not to mention with 1:150 leverage.

Is Plus500 a reliable broker?

It is listed on the London stock exchange and is controlled by top-ranking institutions.

Can I get a negative balance on my Plus500 account?

There's no way you can have a negative balance. A margin call will be made when your account's equity falls below the maintenance margin amount, preventing a negative balance.

Is Plus500 regulated?

Yes, by the UK based FCA (Financial Conduct of Authority) and the ASIC (Australian Securities and Investments Commission) just to name a few of the English speaking markets.

Is their customer support helpful?

Yes, with quick and clear answers both on the live chat and the email support. You should try Plus500's support in case you got any questions.

The company behind Plus 500 has previously been named or is still called Plus500UK Ltd