Plus500 Review

Plus500 Products

Plus500 deals with Contract for Differences only. Technically, when they offer you “cryptos” or “shares,” these are merely CFDs on those assets. Confusing? Let’s put it this way. When you trade on the price of a Samsung share, you’ll be speculating on the price movement, you wont actually own a Samsung share. Here are some of the CFDs listed on this exchange:

• Stocks-Plus500 offers over 190 stocks from UK exchange and about 40 from the Italian stocks market.
• Indices-about 23 equity indices are available for trading
• Commodities-there are 17 of them including gold, copper, energy, and coco
• ETFs-there almost 80 ETFs which are pulled from major stocks, commodities and other indexes
• Cryptocurrencies-the available USD-denominated cryptocurrencies are Bitcoin, Ethereum, Zcash, Bitcoin Cash, NEO, Ripple, Dash, Litecoin, and Monero
• Options-common options include Italian, Dutch, UK, and French options
• Currencies-almost 59 currency pairs available

Check Plus500’s website for comprehensive coverage of all the products they offer.

Plus500 Trading Conditions

The company’s trading fee structure is not transparent since the fee applied is usually embedded in the spreads. The method used to calculate overnight charges is kept a secret as well.

Plus500 does not charge commissions. Besides spreads, they also collect a fee from roll over long and short positions held by traders. A dormant account also attracts inactivity fees. Spreads start from just 0.01% on the EUR/USD. Please see the list below for the minimum spreads applicable on this platform.

Plus500 Platform and Tools

Plus500 has a proprietary platform which is well laid out and easy to use. The layout of the platform is simple, minimalistic, and every category is clearly listed on the left side, prices in the middle and transaction section is on the right. There are a few precise chartings to help one analyze price and other market trends. You can modify these charts and even add indicators in order to conduct your trading strategies.

The lower section of this platform gives you access to account balances, losses, profits, and equity. It’s from this area where deposits and withdrawals happen. At first glance, the chart area beams with potential, but in truth, it is slightly limited when it comes to creating your own custom indicators.

Opening an account on this platform is easily done, even for beginners. The website and app provide a registration form where one can key in all the necessary information. Again, make sure to check if your country is supported and that the services you are looking for are available before filling the form.

You should note that Plus500 also offer a Demo trading account where you can take the platform for a spin.

As for other tools, Plus 500 offer an economic calendar, featuring the latest and most important economic events and data releases as well as real time trading alerts through SMS or email. Additionally the platform features Risk Management including Limit Orders, like Stop Loss and Trailing Stop.

Plus500 Mobile Trading

Plus500 offer traders the ability to trade on the go, no matter where they are with their mobile apps. Mobile traders can execute trades and check out their accounts through Windows mobile, iPhone, iPad and Apple Watch app.  as well as through the Android smartphone.

Plus500 Deposit and Withdrawals

It’s easy and straightforward to deposit or withdraw money from Plus500. Some of the accepted methods include bank transfer, credit card, PayPal, and Skrill.

The minimum amount you can withdraw with Plus500 through PayPal is $50. Credit card and bank transfer minimum is set at $100. If you wish to withdraw less than the set value, a fee of $10 will be applied.  The same fee is levied for anyone who wishes to empty their accounts and close them-unless you are transferring to a credit card.

Plus500 Customer Support

Plus500 has a supportive customer care service. You can reach them via online chat as well as email throughout the day, night as well as on the weekends. To cater to the needs of non-English speakers, the platform offers services in 31 more languages, so no one is left stranded. The main languages are English, German, Russia, Spanish, Arabic, Dutch, Polish, Italian, and French.

On a busy day, however, the transaction speed gets affected. This is becoming a norm amongst many exchanges.

Plus500 Security and Fairness

Plus500 is one of the most secure exchange platforms in existence. After almost a decade of service, this platform has never once experienced any major or minor security breach. Additionally the broker is regulated by various regulatory bodies. This protects your interests and your funds as a trader.  Plus 500 is regulated by the UK’s FCA under authorisation no. FRN 509909. This means Plus 500 must remain compliant with the Financial Conduct Authority’s stringent rules and regulations. The firm must keep its clients’ funds separate from its own corporate funds. This protects the clients trading deposits. Additionally under the FCA each trader is insured up to the tune of £50,000 should the worst happen and the company become insolvent.

Pros

• Free demo account
• Great mobile platform
• User-friendly trading platform
• A variety of trading assets
• Non-deposit welcome bonus
• Regulated by several entities
• Trusted by over 155, 000 users
• Multi-language website
• Minimum deposit is low
• Several ways to fund an account

Cons

• Hard to find FAQs section
• Doesn’t provide much trading education
• No swap account
• Minimal research tools
• Trades only CFDs

Conclusion

Plus500 exchange is certainly a go-to platform for those located within the areas it operates from. Simplicity and a mixture of both beginner and advanced trader features make it suitable for almost every person. It’s also regulated by several entities thus credible and reliable. Therefore, feel free to try it out if it ticks most of the boxes on your screening list of things you are looking for.