|(4.9 / 5)||FCA, CySEC, AFSL||100$||2000+||Variable according to market spread|
Is Plus500 a reliable and trusted CFD Broker? – Find out the truth on this page. With more than 6 years of experience in the trading industry, we have tested this company for you and we will share our experience report on the following page. You will find all the conditions for traders and a detailed trading tutorial.
What is Plus500? – CFD Broker presented
Plus500 is a global CFD broker that gives traders from around the world access to over 2,000 different markets. Under the Plus500 LTD, other subsidiaries operate with different licenses and regulations. Plus500 UK is a UK-based company based in the City of London. The main company is Plus500 LTD, which is headquartered in Israel Haifa and is also listed on the main market of the London Stock Exchange.
Since 2008, currencies, cryptocurrencies, indices, stocks, ETFs, and options can be traded in the form of CFDs. The broker is the distributor of the CFDs and is paid by the spread. The company stands for a clear vision because the broker wants to offer the latest technology in CFDs. Innovation is the top priority and is also reflected in the professional trading platform. In addition, the company is a sponsor of a very well-known football club (Atletico de Madrid). All in all, the company makes a good first impression on us because its appearance inspires trust and expertise.
Facts about Plus500:
- The group of Plus500 is active since 2008
- The Plus500 LTD listed company on the London Stock Exchange
- More than 300.000 active customers
- Very high trading volume (1.000 Billion USD +)
- Innovative broker and high
(80.5% of retail CFD accounts lose money)
Is Plus500 regulated? – Security of customer funds
Regulation is very important in online trading because it creates trust and gives the trader a high level of security. Special criteria and conditions have to be fulfilled in order for a CFD Broker to receive a corresponding license from a state supervisory authority. A violation of the regulation would mean an immediate loss of the license. Fraud can, therefore, be virtually ruled out with regulated brokers.
Since Plus500 LTD owns several subsidiaries, there are different regulations here. One can summarize that the company is regulated in many countries around the world. For example, European traders trade under license from Great Britain. Plus500 UK Ltd is authorized and regulated by FCA (# 509909). This regulation provides enormous security, as customer deposits are covered up to £85,000 (deposit insurance).
In addition, Plus500’s customer deposits are very well managed. Plus500UK LTD keeps funds separate from company funds and the broker has no corporate or sovereign debt. The company does not invest the client’s money and does not pass client money through to hedging counter-parties. In summary, Plus500 is a very secure broker according to the first company data, where fraud can be excluded.
Facts of the security of customer funds:
Review of the conditions for traders – What does the CFD Broker offer?
At Plus500 you can trade CFDs on over 2000 different markets. These include currencies (Forex), stocks, stock indices, ETFs, commodities, cryptocurrencies, and options for different assets. The CFD Broker offers a very wide range of differentiated markets and is constantly trying to expand its portfolio. Stocks are tradable from more than 23 different countries and the latest cannabis stocks are also available.
The leverage under a European license is up to a maximum of 1:30. Traders who need higher leverage can trade under another regulation (e.g. Australia) or register as a professional trader to enjoy the leverage of maximum up to 1:300. In this way, the ESMA restriction can be circumvented. CFDs are offered at a variable spread and depend on the trading instrument. They are constantly adjusted according to the market spread (for example see the picture below). This is a rather low value and clearly better than the competition. In addition, there is no commission, which is another advantage in CFD trading. The platform is open 24/7 and some markets can also be traded on weekends.
In addition, we notice that Plus500 offers a guaranteed stop loss. This is very rare with other providers. Thus better risk management is possible because positions are executed to 100% on your desired price. The CFD Broker makes a very good impression on me by his trading conditions. The selection of markets is very high and the trading fees very low. Here Plus500 can collect further plus points.
Facts of the conditions for traders:
- Tight spreads (for example OIL with 0.02 points – depending on the market and situation)
- No commissions for CFDs
- Maximum leverage 1:30 for European traders
- Maximum leverage 1:300 for international and professional traders
- More than 2000 markets
- Minimum deposit 100$
- Free demo account
- Trade CFDs on stocks, cryptocurrencies, ETFs, commodities, options
- Guaranteed stop loss is possible
(80.5% of retail CFD accounts lose money)
How good is the Plus500 Trading platform?
What can the Plus500 trading platform offer a trader? – In the next section, we’ll look at them together. The trading platform was developed independently by the broker and is available for every device. You can also use the clever app to control your portfolio from the comfort of your own home.
In our experience, the trading platform is very user-friendly because it has a simple and clear design. But CFDs are complex financial products. On the other side, professional traders should be familiar with the platform after a few minutes of getting used to it. Beginners can learn to trade in regards to the free unlimited demo account. There are also many flexible elements that can be adapted to the trader’s trading style. Plus500 stands for transparency of fees and trading. These are also clear in the trading platform. All trading fees are obviously displayed. The market prices are displayed very clearly so that the trader is able to trade the best prices.
Facts of the trading platform:
- Very clear design
- Userfriendly for beginners and advanced traders
- Transparent trading
- Available for any device
Professional charting and analysis is possible on Plus500
Chart analysis and technical analysis are very popular with traders. But for successful analysis, you need certain tools. Can Plus500 provide them? – The trading platform even offers more than 7 different chart representations, which facilitate analysis. In my opinion, the well-known candlesticks are suitable for a very professional analysis.
Furthermore, over 40 different technical indicators are available on the platform. These can be inserted variably and adapted independently. Drawing tools are also available for technical analysis. If, for example, you have decided on a certain strategy with indicators, you can also save the settings in a template and duplicate them as required.
In our experience, the charting of the platform works very well, since the chart is displayed very clearly. There are no annoying disconnects or other errors so that a successful analysis can be carried out at any time. For the analysis, you can also observe the opinions of other traders. Plus500 offers a very professional trading platform with a range of settings for each trading style.
Facts of the charting and analysis:
- More than 7 different chart settings
- More than 40 different indicators
- Technical drawing tools
- Clear charting without disconnections
How to trade on Plus500? – Step by step trading tutorial
In the following step by step guide, we would like to give you an overview of the classic trade execution. As already mentioned above, beginners should quickly feel familiar with the trading platform. A free demo account with virtual credit is available for gaining experience.
1. Choose your market to trade
On the left side, you can choose the different markets of Plus500. Among the asset classes are equities, options, commodities, cryptocurrencies, foreign exchange, and ETFs. The broker automatically filters out the most popular assets for you. In addition, you can set many different filters to search the market yourself.
2. Do the chart analysis on the platform
You can analyze the chart history of assets in the Plus500 software. The price chart can be set in various time units. In addition, popular indicators can be used, such as the RSI oscillator. This has already been explained under “Charting and Analysis”.
3. Buy or sell the asset directly on the platform
At Plus500, you place orders on either rising or falling prices with CFDs. Short selling is possible in any market. The advantage of CFDs is that there are low fees and no expiration time. With one click you can buy and sell.
How to trade:
- Choose your investment amount (Attention: leveraged trading)
- Fast buying and selling
- Do risk management through the stop loss and take profit limit
- Close your position with a loss or profit
Mobile trading for any device (App)
Mobile trading is very important for every trader these days. Many traders also want to manage their own portfolios from their mobile phones. Plus500 offers an app for iOS and Android. This allows you to react very quickly to political events or fundamental news. The app has a similar design to the trading platform for the computer. Here, too, the chart can be adapted to the trader’s trading style. Even the latest news can be received via the app. In summary, the app rounds off the broker’s portfolio, and Plus500 offer everything a trader needs.
How to open your account?
Plus500 guarantees a fast opening of the depot. With your email and a password, you can open your account in a few seconds. Before making the first deposit, however, the broker will need further information from you (example picture below). The advantage is that Plus500 offers the trader an accurate step-by-step guide. So no mistakes can happen.
The account must be verified with certain documents. This is required by strict regulations. To do this, upload a picture of your ID and proof of residence so that you can enjoy all the functions of the trading platform. The complete opening of the depot only takes a few minutes. Verification is also completed very quickly. If you have any questions, the live chat is ready to help you.
(80.5% of retail CFD accounts lose money)
Free and unlimited Plus500 demo account
Plus500 also offers a free and unlimited demo account for every trader. This is a virtual credit account that simulates real money trading. The trader thus trades without risk. So you can test the trading platform extensively and gain new experiences. The account is also suitable for getting to know strategies and new markets.
The virtual account is filled with $ 50,000 or € 40,000 “play money”. With just one click you can switch between the demo account and the real money account on the trading platform. So you don’t need 2 different accounts. This is a big advantage compared to other providers.
How to deposit and withdraw with Plus500?
A further point in this experience and the test report is the deposit and withdrawal of customer funds. The minimum deposit at Plus500 is only 100$. The broker allows it to trade with small capital. Many different payment methods can be used. Among them are credit cards, electronic purses, and the classic way of bank transfer. A very big advantage of the broker is that PayPal is offered as a payment method.
The Plus500 payout also works smoothly. Make sure your account is fully verified. The withdrawal will be processed regularly in 1-3 days. Please pay attention to all payment details, otherwise, there can be considerable delays.
Facts about payment transactions:
- Minimum deposit 100$
- Use PayPal, bank wire, credit cards, debit cards, Skrill, and more methods
- Withdrawal within 1 – 3 days
- No hidden fees
Is there negative balance protection?
With Plus500 there is negative balance protection. Events in the past have shown that huge gaps in the capital markets have become very threatening. CFD Brokers improved their systems. In order to open a position on the platform the initial and maintenance margin levels must be met.
For better risk management, you can use a guaranteed stop-loss where it is available with this broker to avoid risk.
Review of the Plus500 fees
Plus500 may charge different types of fees. We have listed them transparently for you so you won’t experience any nasty surprises.
There are classic trading fees for trading. Each position has a spread (the difference between buying and selling price). The spread depends on the market situation. In addition, a financing fee for positions (overnight) (interest rate swap) may apply. Since CFDs are leveraged products, the capital must be financed.
Facts of the fees:
- Spread on any opened trading position
- Interest SWAP fee for overnight positions
- 10$ fee because of inactivity after 3 month
- You see the fees transparent on the platform
- Overnight funding
- Currency conversion
In comparison with other providers, the fees from my experience and test are competitive and low. Especially with the cryptocurrencies, Plus500 is very far ahead in comparison.
In general, the fees for stock exchange trading have been considerably reduced by the Internet. A few years ago, several euros were needed to open a position. Nowadays you pay only a few cents or a small percentage of the position size.
Trade cryptocurrencies and other new markets – Innovative CFD Broker
On a positive note, Plus500 is trying to integrate new markets into the trading platform. For example, there are currently more than 10 different cryptocurrency assets available for trading. The company is very innovative in this area. In summary, the trader is always presented with the latest markets and technologies in the trading area. The new cannabis stocks have also been integrated into the trading platform. With these trend markets, it is possible to generate a high profit or loss due to the high volatility. Here, too, the advantage of CFDs comes into play, because speculations on falling prices are possible without any problems.
- More than 10 different cryptocurrencies
- Cannabis stocks
- Short selling is possible
- Leverage up to 1:5
- Plus500 is constantly expanding its product range
- Innovative and newest trading technology
Additional special features of the trading platform
In addition to the guaranteed stops, there are also other unique selling points of the broker. In the trading platform, for example, alarms can be set for each market. If the price reaches a certain level, you can send an email or notification to your mobile phone.
You can also view the latest market news. These are provided by Dow Jones. Messages are listed by importance and the publication date is announced. As a trader, you can react to strong movements in the market.
24/7 support and service for Plus500 traders
Plus500 offers full round-the-clock support. The service is available 24 hours a day via email or chat. Unfortunately, there is no telephone support with this broker, so there is a small reduction in the overall rating. Several tests have shown that the support is very fast and competent. In addition, a sufficient FAQ is offered on the website. All questions should be answered there. Who has further questions, can write best to live support. This answers via chat in a few seconds.
Experience shows that Plus500 support offers very good help for the correct operation of the trading platform. Unfortunately, there is no additional service like webinars or coaching. All in all, the support is very reliable and competent.
Facts of the support:
- 24/7 support for traders
- Different languages
- Chat, WhatsApp and Email support
- Huge FAQ section
Is Plus500 legit? – Conclusion of the review for new traders
Plus500 gets a clear recommendation from us on this page. It is a very large online broker with a huge range of trading opportunities. This is very interesting for beginners and advanced traders, who want to invest with a lever in different markets. However, you have to make some small cuts in support, because there is no contact person by phone.
From my experiences, one can act professionally with this offerer. You can use different payment methods and all fees are listed transparently. The platform as a whole makes a very user-friendly and flexible impression on me. Start yourself with a free demo account.
Is Plus500 serious or not? – We think the appearance of the company, which has been on the market since 2008, can be considered very serious. The group of companies has multiple regulations and is an official football sponsor.
Advantages of Plus500:
- Fully regulated CFD Broker
- Free demo account
- Innovative platform
- Huge range of markets
- No hidden fees
- Competitive spreads
- Support 24/7
(Risk warning: 80.5% of CFD accounts lose money)