- 1 Plus500 Review and Insights
- 2 Pros and Cons of the Plus500 Platform
- 3 Review Of Plus500 Trading Fees and Costs
- 4 Plus500 Account Opening Experience
- 5 Withdrawals and Deposits
- 6 Plus500 Online Trading Platform
- 7 Plus500 Mobile Trading
- 8 Plus500 Assets Available To Trade
- 9 Plus500 Research Tools and Education Program
- 10 Customer Satisfaction and Safety
- 11 History Overview
- 12 Plus500 Review and Final Verdict
Plus500 Review and Insights
Plus500 is s a fundamental CFD broker offering CFDs over shares, stocks, cryptocurrencies, forex and other financial instruments established in Israel and listed on the Main Market of the London Stock Exchange.
Plus500 offers CFD’s over approximately 2200 instruments. 81.2% of retail investor accounts lose money when trading CFDs with Plus500. Before trading you should consider whether you can afford to take this high risk of losing your investment.
Plus500 is registered with the Financial Conduct Authority (FCA), ASIC, FMA, FSCA, CySEC, MAS, and the ISA, which make sure its financials are always disclosed and transparent. They also have a client money protection policy ensuring that customers money is not used for hedging purposes. Plus500 is a publicly traded company listed on the London Stock Exchange and regulated by the top tier regulator what makes this platform an overall safe bet.
Crucially, it’s important to remember that when you’re thinking of using a CFD broker, you do put your money at risk. Any trading strategy comes with its risks. However, a vast majority of retail investor accounts do lose money when trading CFDs with the Plus500 platform. With that in mind, you should never put your money into a CFD trading system if you can’t afford to lose it.
Plus500 trading platform is also suitable for day trading. If you plan on opening and closing the majority of your positions on a quick scale you can use this platform as well. On the other side scalping is not allowed and your account can be blocked and closed for that reason. Scalping is defined as: “A trading strategy where a significant portion of the customer’s positions are opened and closed by him/her within 2 minutes.”
In a nutshell, we would recommend this platform to mid and advanced traders who are looking to trade CFDs on highly sophisticated and easy to use platform.
Pros and Cons of the Plus500 Platform
If you’re looking for more long-term trading options, then this platform is a relatively easy-to-use platform with low spreads to consider. There’s also excellent user experience support, and it’s listed on the London Stock Exchange, which should give you some peace of mind. This platform also has the option of offering some cryptocurrency based CFD’s too – so that could be appealing for some traders.
What’s more, there are minimal tools available for research. You’ll struggle to find information in the form of recommendations, news feeds, or fundamental data available.
Review Of Plus500 Trading Fees and Costs
One of the most common aspects to look at when you’re deciding on a brokerage platform to use is how much you can expect to pay in fees. The first thing you should know is that the trading fees for Plus500 are low. There’s no commission to worry about, and everything you need is included in the spread. The CFD trading fees are minimal with Plus500.
In terms of financing fees per year, however, you can expect to pay a little bit more than you would with most providers. As you may already know, brokers usually charge financing rates for customers that hold leveraged positions for longer than 24 hours. The financing fees available for this platform are only available on the trading platform. Unfortunately, the calculation method used to provide those fees isn’t as clear as it should be. It’s also worth noting that Plus500 has the right to change its fees whenever it chooses.
In terms of non-trading fees – the costs are relatively average. For instance, the withdrawal fee isn’t too bad, and you can make up to five withdrawals for free per month. After that, you’ll pay around $10 per withdrawal. Additionally, bank transfers are only $6. If you’re not active on your account, the fees are relatively high. With three months of inactivity, you’ll be chargeda $10 fee per quarter.
Plus500 Account Opening Experience
Often, the best trading platforms are the ones that are easy to access and use. The good news is that Plus500 is very easy to open an account with. The experience can all be managed online, and you’ll have access to your trading account within the day. Additionally, their service accepts new customers from locations across the globe and it also allows UAE accounts. There are only a handful of exceptions. For instance, you won’t be able to open an plus500 account as a resident of Syria, Cuba, Iran, Canada, or the US.
The minimum deposit level is 100 EUR when choosing a credit or debit card, and 500 EUR for a bank transfer. There’s only one live account option to choose from, and no corporate accounts are available. All you need to do is sign up, submit some documents (ID, Residence verification) and read the questionnaire and you are ready to go.
and start trading, and you’ll be ready to go in no time.
Withdrawals and Deposits
The deposit and withdrawal experiences offered by Plus500 are incredibly good. You’ll have a range of options available when it comes to deciding how you want to submit or take your money. Additionally, there are multiple options available when it comes to opening your account in different base currencies.
It’s not totally apparent at first glance how many currencies are available on this platform. However, customer support suggests that even some of the most minor currencies are supported. If you decide to change your base currency at any time, you’ll need to contact their customer service. Remember, currency conversion fees will not be chargedif you’re moving your account funds to your bank in the same currency.
Notably, there’s no fee to deposit money into Plus500, and you can upload your money however you like, including through third-party tools like PayPal and Skrill, bank transfer, or credit or debit card. Bank transfers do take a little longer than electronic transfers.
For up to five withdrawals per month, you can also access your money for free – with no charges at all. If you decide to make more withdrawals on this trading platform than that, then you’ll need to pay $10 each. Thisis a relatively competitive price. There’s also a minimum withdrawal amount to consider too. For a PayPal withdrawal, you need to take out at least $50, and for a bank transfer, you’ll need to withdraw at least $100. You can use all the same channels as you would for a deposit for a withdrawal.
Also note that it might take a few days for your withdrawal to come through. Keep that in mind if you’re in a hurry to get your funds.
Plus500 Online Trading Platform
As a web trading solution, this platform is easy to use, and it looks amazing. Unfortunately, you can’t customize it to suit your individual needs. The Plus500 has a uniquely developed web-trading platform that’s available in thirty different languages. What’s more, the service is clean and easy to use. Even if you’ve never traded with CFDs before, then you shouldn’t have a hard time managing their app.
Though you can’t customize the service, it helps to know that there are some positive features to consider, including the option for two-factor authentication to keep your account secure. There’s also Facebook and Google authentication available too for the trading app which makes is even more secure.
In terms of searching for new trading options, you should find it very easy to track down whatever you need. You’ll be able to seethe products categorized on the left-handside of your platform, or you can type the product name in manually instead. For placing orders, you can expect a mid-range experience, including a guaranteed stop-loss, market order, limit order, stop loss order, and trailing stop.
One particularly excitingcapability is the notification and alert function. You can set up your emails, push notifications and SMS to suit your needs, and this is great for finding out when the price of an asset is set to reach a specific percentage. You’ll also be able to set up alerts if the sentiment around a specific asset changes.
Another great feature is the transparent fee and portfolio reports that come from Plus500. It’s easy to see how many overnightfees you’ve paid on your positions. What’s more,the current status of your portfolio should also be easyto follow when you’re examining the upper bar portion of the platform.
Plus500 Mobile Trading
Plus500, like many modern trading solutions, offers a mobile trading option as well as a web-based option. The mobile trading platform is stunningly well designedand easy to use. You should find that most of the features are the same as what you might expect on the web version of the plus500 platform. You’ll also be able to use your smart watch to download the app if you want to.
Plus500 Assets Available To Trade
Unfortunately, while this option has a lot to offer as a trading platform, it’s only designed for use with CFDs. There are indeed a lot of CFDs to choose from, but you’re still relatively limited in your options. If you’re looking for a fundamental CFD broker, then you can’t go wrong with Plus500. They only offer CFDs over shares, cryptocurrencies, forex, commodities, etc.
In terms of versatility within your CFDs, there’s more range available than from the majority of companies. There are also some cryptos, but less than many other trading platforms. Additionally, you can’t control the default leverage level of the products, which is a no-go for some people.
Plus500 Research Tools and Education Program
Perhaps the two most disappointing features of Plus500 is the lack of research and education options they offer. Plus500 comes with very limitedresearch tools. Although there’s a good economic calendar available, a great deal of the fundamental data that you might need to make essential trading decisions is missing on the plus500 platform. There’s no newsfeed to join the well-designed calendar on the newsfeed, and you won’t be able to access any additional updates either. There’s also no recommendations section available.
Although it’s nice that you can filter the economic calendar for company earnings and macro events – this simply isn’t enough for most people in the system. However, there is a relatively useful market sentiment tool, which shows the percentage of sellers and buyers at Plus500 and may help you to make some trading decisions.
In terms of educational options for people who want to learn about trading, the possibilities are quite limited. The company only provides a demo account where you can practice your trading strategies before you open a full account, that’s about it.
Customer Satisfaction and Safety
On the plus side, while research and education are poor, things start to pick up again for Plus500 when it comes to security and customer service. The customer support is excellent, with both email and live chat that you can rely on to get answers to you as quickly as possible. You can rest assured that someone will always get back to you as soon as you can when you fill out a request for support on Plus500. What’s more, even the email support can be relied upon to give you a quick answer. Most of the time, you’ll be able to get a response within an hour – which is a lot faster than the support you could get from other brokers.
Plus500 is one of the few providers to offer a complete 24/7 live chat service. It’s also one of the safest brokerages on the market today. Listed on the primary market for the London Stock Exchange and regulated by groups like the FCA, it’s a broker that can be trusted. The company has been established for over a decade, and it makes sure that customers are protected if something goes wrong.
Plus500 also has a client money protection policy. Based on this policy they protect all of their clients money and also make sure it is not used for hedging purposes. What basically happens after you sign up with Plus500AU Pty Ltd is that they hold your money in a segregated client bank account in accordance with the relevant regulatory requirement. For more information you can read more about the client money protection policy here: https://www.plus500.co.za/Help/ClientMoneyProtection
Sometimes, it helps to know a little bit more about a company before you start trading with them. The Plus500 brokerage is listed on the central part of the London Stock Exchange. For many users, this is a huge plus when it comes to security and peace of mind. What’s more, it’s worth noting that the company also has a very strongand powerful parent company.
When a broker has a good parent company, this is a sign that it can be given additional capital when necessary, which means that you get extra protection as a user. The biggest owners responsible for Plus500 today include huge asset management companies like Morgan Stanley and JP Morgan. In other words, you shouldn’t have to worry about investing with this trading broker.
Also, Plus500 has been in the industry for more than ten years, so you know it has a good track record. Usually, when choosing a brokerage, it’s best to go for someone with a long track record. Extended track records typically mean that the company has been able to get through difficult economic and financial moments.
Like any provider in the market maker model, Plus500 is the counterparty when you’re trading on their platform. If there’s a default issue with Plus500, then it may not be able to pay you. Thismeans that you’d have to rely on your investor protection. However, being listed with the FCA makes Plus500 very reliable.
Plus500 Review and Final Verdict
Only you can decide which broker is right for you. However, it’s fair to say that Plus500 is a reliable company that’s designedfor people who want to get involved with CFD trading. Ultimately, the platform is largelyregarded as safe because it’s listedwith the London stock exchange. It’s also regulatedby the FCA, which is a good sign. Additionally, the platform is very easyto use. Whether you’re using the web-based platformor the mobile solution, you should expect a good user experience. Anyone can navigate the app with simplicity, and the spreads are highly competitive. On top of that, Plus500 is designed for day trading as well.
Unfortunately, there are some downsides too. For instance, the education and research tools are inferior. What’s more, the fees for financing are higher than usual also.