Plus500 Information
Plus500 is an online trading platform that offers 2,800 Contracts for Difference (CFDs) on cryptos, indices, forex, commodities, shares, and ETFs. It was founded in 2008 and is headquartered in Israel, with additional offices in the UK, Cyprus, Australia, and Singapore. Plus500 is authorized and regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Australian Securities and Investments Commission (ASIC) in Australia. The platform is available in more than 50 countries and supports over 30 languages.
Pros & Cons
Plus500 is a good option for traders looking for a user-friendly platform to trade a wide range of markets and instruments, with competitive spreads and no commissions.
However, traders who require MT4 and MT5 trading platforms, or do not want to pay for an inactivity fee may need to consider other brokers.
Is Plus500 Legit?
Plus500 is considered legitimate as it is authorized and regulated by several top-tier financial authorities, including the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).
Plus500 is also publicly traded on the London Stock Exchange, which provides additional transparency and accountability. The broker has been in operation since 2008 and has a large and established customer base.
However, it is worth noting that no broker is entirely risk-free, and traders should always do their own due diligence before depositing funds with any broker.
How are you protected?
Plus500 takes several measures to ensure the safety and protection of its clients, and the fact that it is a regulated broker provides additional reassurance to clients.
Here is a table outlining how Plus500 protects its clients:
Our Conclusion on Plus500 Reliability:
Overall, Plus500 appears to be a reliable broker with a strong emphasis on client protection. The company is regulated by multiple reputable financial authorities, has a robust risk management system in place, and offers negative balance protection to clients. Plus500 also uses encryption technology to protect clients' personal and financial information.
However, it is important to note that no broker is completely risk-free, and clients should always carefully consider their investment goals and risk tolerance before trading with any broker.
Market Instruments
Plus500 offers 2,800 CFDs, including:
- Forex pairs major, minor, and exotic currency pairs
- Stocks CFDs on stocks from various international markets
- Indices CFDs on major stock indices like S&P 500, Nasdaq, FTSE 100, and more
- Commodities CFDs on precious metals, energies, and agricultural products
- Cryptocurrencies CFDs on popular digital currencies like Bitcoin, Ethereum, Litecoin, and more
Accounts
Plus500 offers two types of accounts: a live trading account and a demo account.
The live trading account requires a minimum deposit of $100 and provides access to real-time market prices and trading in over 2,800 instruments. Traders can use leverage of up to 1:30 for retail clients and up to 1:300 for professional clients. The live account offers various features such as stop loss, take profit, and guaranteed stop loss orders. There are no commissions charged on trades. Instead, the company earns money through the bid-ask spread.
The demo account is free and allows traders to practice trading using virtual funds with access to the same trading instruments as the live account. It is a great way for traders to learn how the platform works, practice trading strategies, and get familiar with trading instruments before investing real money. The demo account is available for unlimited time and can be used to test new trading strategies without the risk of losing real money.
Leverage
Plus500 offers leverage for different financial instruments. The maximum leverage offered depends on the instrument and the jurisdiction where the trader is located. In general, the leverage for forex trading can be up to 1:30 for retail clients in the European Union, and up to 1:300 for professional clients.
For other instruments, such as stocks, commodities, and cryptocurrencies, the leverage can vary between 1:5 and 1:30 for retail clients, and up to 1:300 for professional clients.
It's important to note that higher leverage can amplify both profits and losses, and traders should use it with caution and proper risk management.
Spreads & Commissions
Plus500 offers floating spreads on all trading instruments, meaning the spreads can fluctuate based on market conditions. The spreads can start from as low as 0.5 pips for major currency pairs like EUR/USD. Plus500 does not charge any commission on trades, and their revenue comes solely from the spreads offered.
Trading Platforms
The Plus500 trading platform is an in-house developed web-based platform that can be accessed directly from the Plus500 website. The platform is user-friendly and intuitive, making it easy for traders to navigate and trade various financial instruments. It is also available in several languages.
The Plus500 trading platform offers several advanced features, including price alerts, real-time charts, and technical analysis tools. The platform also includes a demo account that traders can use to practice trading without risking any real money.
Overall, the Plus500 trading platform is well-designed and functional, but it may lack some of the advanced features found in other trading platforms. See the trading platform comparison table below:
Deposits & Withdrawals
Plus500 accepts payments via Visa, MasterCard, PayPal, Skrill, Apple Pay, and Google Pay.
Plus500 does not charge deposit or withdrawal fees, but some payment providers may charge transaction fees, which should be checked with the provider directly. Plus500 also requires users to withdraw funds using the same payment method that was used for depositing funds, up to the deposited amount. Any excess profits can be withdrawn using any other payment method supported by Plus500.
Minimum Deposit Requirement
The minimum deposit requirement for Plus500 varies depending on the jurisdiction and the account type. In general, the minimum deposit ranges from $100 to $1,000. For example, in the UK, the minimum deposit is £100. In Australia, it is AUD 100, and in the EU, it is €100. It is recommended to check the specific minimum deposit requirement for your country and account type on the Plus500 website.
Plus500 minimum deposit vs other brokers
Fees
Plus500 charges overnight funding fees for holding positions overnight. There are no fees for deposits and withdrawals, and inactivity fees only apply after three months of inactivity.
The overnight funding fee is a cost incurred for holding positions overnight and can be a credit or debit to your account depending on the direction of the position and the prevailing interest rates. The funding rate varies based on the instrument traded.
It is important to note that Plus500 may also charge additional fees for certain actions like guaranteed stop-loss orders or currency conversions.
Overall, while the fees for Plus500 are relatively low, traders should be aware of the potential for higher overnight funding fees, as well as any additional fees that may apply for certain actions.
See the fee comparison table below:
Education
Plus500 provides rich educational resources on their website, which includes trading academy, trader's guide, beginner's guide, webinars, ebook, FAQ, and news. The educational resources cover topics such as trading basics, technical analysis, and risk management.
Conclusion
Overall, Plus500 is a reputable and reliable online broker that offers a user-friendly trading platform, competitive spreads, and a wide range of trading instruments. It has a strong regulatory framework and offers various measures to protect its clients. Plus500 also provides excellent customer service with 24/7 support.
However, Plus500 does have some drawbacks, such as no popular MT4/5, limited contact channels and relatively high inactivity fees.
In summary, Plus500 is an excellent option for beginner traders who are looking for a straightforward and easy-to-use trading platform with a low minimum deposit requirement. It is also a good choice for experienced traders who prioritize a strong regulatory framework and reliable customer service over advanced trading features.
Frequently Asked Questions (FAQs)
United States
鎮元
Taiwan
At the beginning, you can withdraw as much as $300. If it exceeds 10,000, you need to pay a deposit and a miner’s fee. At the beginning, it said that you can withdraw within 5 to 10 minutes after paying deposit. After paying the deposit, it said that you need to pay a miner’s fee.
Exposure
2023-07-14
Cristian Israel
Mexico
Before redeem it has to wait for a long time ???? Yes I think people stealing hit something, I see photos.
Exposure
2023-12-11
FX2403865430
United Arab Emirates
Plus500 are so kind with beginners but theyre so scammers frauds and thieves if you are professional, first you will deposit ur money then they will let you trading, if u get profit, they will not allowed u to withdraw it, they will restrict your acconunt then create any reason to take all ur profits and send you not all of ur real money you deposited,
Exposure
2023-02-12
翔67735
Taiwan
Continuing from the previous post. They sent the money out to the bank for transfer without authorization, and continued to ask for confirmation money, process money... At the end, they said that the tax authority froze all the money, but still required the payment of the process fee to complete the trasfer, a total of 90K USD, not a penny was refunded
Exposure
2023-12-11
翔67735
Taiwan
At first, I paid a lot of money because I applied for a VIP account and solved the problem of freezing the account. Later, I said that there was a problem with my account and I could not withdraw the amount I needed. I need to clear all the money in the account and transfer it to the bank without authorization. Later, he said that the bank requires payment of a confirmation fee before remittance, and finally asked the payment question but could not read it.
Exposure
2023-12-11
凱61622
Taiwan
Keep asking me to pay margin and verification fee, but I still cannot withdraw after paying it. The payment is stucking there and delaying it.
Exposure
2023-12-11
FX2563610449
Hong Kong
There is no problem with depositing money in the morning, but in the afternoon, you cannot log in. A fraudulent company.
Exposure
2022-07-27
Yeates
Australia
My trading account suddenly shows that unable log in. I contact customer service, they ignore me. There are still lots of fund in there
Exposure
2022-02-24
FX2523046517
Taiwan
Suddenly, the account was restricted, and the customer service screen could not enter and could not withdraw funds.
Exposure
2022-01-05
Gustavo@Fring
Malaysia
Hello dont trust this two people pretending on Plus500 admin in Telegram. Both of them are a scammer. Please share and advice all the people outside. They're pretending being a pro trader, and also to be a true scheme in trading but not true ,I was scammed by both of them. Be aware. Thank you
Exposure
2021-12-17
Mayaz Ahmad
Bangladesh
A client has complained that they manipulate trade so that clents make loss and they have poor customer service.
Exposure
2021-07-28
黑皮二哥
Taiwan
I've reported the situation many times. No one handles it
Exposure
2021-05-09
FX4129013939
Mexico
It happened between November 23-24. It’s not the first time.
Exposure
2020-11-26
FX3796671962
South Africa
planned slippage after doubling my account and requesting a withdrawal, more than half of my funds including profits disappeared with a blink of an eye,whereas all my positions were sitting on a profit using lot size 0.01 and leverage 1:100[3f]
Exposure
2020-11-17
Ruslanydigeng
Hong Kong
There was a severe slippage with the morning section on Mondays, 120.89 can slip into 119.55(I set the stop-loss 120), for example. It led to liquidation directly. It gave me the feeling that if I didn’t pay a margin, it would cause liquidation deliberately... At the same time, the price on Jinshi Data was 120.78. It is simply a malicious slippage.
Exposure
2020-07-06
FX2773183855
Hong Kong
The fraud asked for a margin before the withdrawal with the excuse of wrong information. I said that I had no money. Then it asked me to wait 60 days. Now the login is unavailable. Fraud! Take heed on it.
Exposure
2020-07-05
Smily
Hong Kong
The withdrawal is unavailable, albeit normal trading. Even I modified the information, there would be varied problems standing in the way. It is simply a scam.
Exposure
2020-06-18
泡泡糖
Hong Kong
Plus500 required me to deposit fund to unfreeze the account. Otherwise, the withdrawal will be doomed. It is simply their routine.
Exposure
2020-05-14
董少昆
Hong Kong
The platform gave no access to withdrawal with the excuse of wrong bank information. It is simply a fraud.
Exposure
2020-05-03
Tim Sun
Hong Kong
There was a malicious 500-pip slippage with Plus500 , leading to forced liquidation. Be careful. The price difference could be as high as $30, while it is only 4 to 6 RMB on that in other platforms, only to make clients’ accounts liquidated. The service claimed that they have the right to do so. You investors take heed on it.
Exposure
2020-03-26