Plus500, a CFD broker, was established in 2008 in Israel. It is one of the leading CFDs brokers in the world. Traders can trade different financial instruments like Forex, ETFs, stocks, market indices, and commodities. Plus500 is operated by various subsidiaries of Plus500 Ltd that are headquartered in Israel. The respective subsidiaries are also regulated at local levels. Plus500 UK Ltd, for example, comes under the Financial Conduct Authority of the UK as it’s based in the UK and Plus500 CY Ltd is regulated by Cyprus Securities and Exchange Commission as it is based in Cyprus. With regulated status, user-friendly website and solid financial backing, the Plus500 traders can expect to get a highly rewarding experience always.
Web Trading Platform
Plus500 has developed its own web-trading platform which is simple to use and available in 30 different languages. However, it cannot be customized. Even the first-timers can navigate it with ease as it is well-designed and clean. It has a safe login process with a 2-steps authentication. Plus500 also offers Facebook and Google authentication for traders’ convenience. Moreover, the web platform of Plus500 has a great search function. Other features that traders get with web trading platform of Plus500 include mid-range order management, notification, and alert function, and fee and portfolio reports.
Mobile Trading Platform
Plus500 has a user-friendly and well-designed mobile trading platform. You will get all the functionalities that come with their web platform with their mobile app as well. The mobile app is available both for iOS and Android devices.
The broker offers excellent customer services with their email and lives chat support which are reliable, quick and available for 24/7. However, they don’t have phone support. You will not need to wait for long to get your questions or queries replied to with Plus500’s support.
Plus500 has different subsidiaries, and based on your location, one of the subsidiaries will cater to you. Depending on the country you’re signing up with, you’ll get the investor’s protection amount. The broker is listed on Main Market of London Stock Exchange, a big advantage as far as security is considered. With Plus500, all aspects like the company’s profitability, ownership, compliance and more are completely transparent, can be easily accessed and clearly documented. Plus500 works on market makers model. So, the broker is counterparty while trading on their platform. So, you can trust investor’s protection if Plus500 ever defaults. Being regulated and listed by the top tier regulator are excellent signs of safety.
With Plus500, you’ll get a very limited number of research tools. However, it has a well-made economic calendar and good charting tools. Traders can filter for company earnings, macro events, etc. But they won’t find any news feeds. The charting tools have a good quality with many editor tools and indicators. The charts can also be saved. Traders also get an opportunity to use the market’s sentiment tool that shows the buyers and sellers proportion at Plus500.
Products and Markets
Plus500 is a well-known forex and CFD broker. You can trade a lot of CFDs with this broker. They also offer a few cryptocurrencies. Traders get 59 currency pairs, 23 stock index CFDs, 1800 stock CFDs, 80 ETF CFDs, 9 cryptos, and 17 Commodity CFDs to trade with Plus500. Traders can also trade using options on some stock index CFDs and stocks.
Deposit and Withdrawals
Traders can deposit for free with Plus500. Plus500 offers many options to deposit funds like debit/credit card, PayPal, Skrill, bank transfer, and many electronic wallets. Credit/debit cards and electronic deposits are instant while a bank transfer can take a few business days.
When it comes to withdrawals, Plus500 offers 5 withdrawals for free every month. After that, traders will be charged $10 for each withdrawal. Plus500 also has a minimum withdrawal limit that is $100 for credit/debit cards and bank transfer and $50 for PayPal. On withdrawing a lower amount, a charge of $10 will be added.
Plus 500 has only two types of account options for traders. One being the demo account and other is the standard account. New traders can try their hand with the demo account while the standard account is good for experienced traders. The minimum deposit of $500 is required in case of bank transfers and of $100 for electronic wallets and debit/credit cards to open an account with Plus500. Opening an account with Plus500 is simple and seamless.
For traders who are aware of CFD trading risks, Plus500 is a great broker. With a simple-to-use platform, you will get a superb user experience with Plus500. Spreads are very competitive with Plus500, but the financing rates are high. So, the fee can be quite high. Getting some research tools at this high fee level would have been a plus.