Operating in Europe by Plus500CY Limited, Plus500 is a web-based Contracts for Differences (CFDs) dealer. It offers users CFDs on over 2,000 fundamental assets like commodities, forex, indices, currencies, ETFs, shares, and options.
Its base offices are located in Limassol, Cyprus. FCA (Financial Conduct Authority) regulates and authorizes Plus500UK Ltd under FRN 509909. Also, it’s controlled by CySEC with license #250/14.
The Cyprus branch is located at 1 Siafi St., 3042 Limassol.
In Australia, Plus500AU Pty Ltd is regulated by ASIC with reg# 417727. In the United Kingdom, Plus500 Ltd is publicly listed on the Main Market of the LSE (London Stock Exchange).
Moreover, South Africa, New Zealand, and Singapore also license and regulate Plus500.
In New Zealand, Plus500 is licensed by FMA under license #486026, while in South Africa, it is authorized by FSCA under license # 47546.
In Singapore, Plus500SG Pte Ltd represents Pluss500, and the Monetary Authority of Singapore grants a license for dealing in capital market items under license # CMS100648-1.
Plus500’s official website is www.plus500.com. Following is a snapshot of its homepage:
Plus500 UK – Background Information
The structure of Plus500’s trading accounts is convenient and straightforward. A free and unlimited demo or live account can be created. Initially, a minimum deposit of 100 US Dollars is required by a live account.
In the EU, traders will be comforted that they will not lose any more money than they have in their accounts. Also, the organization might make margin calls if the amount in the account falls short of the maintenance amount. The user’s money is kept in separate user accounts according to the client money rules of FCA.
The organization offers various trading tools, commodities on thousands of assets, and CFDs on Forex currency pairs. It also provides an option to put and call on indexes and stocks.
At Plus500, the maximum leverage level is 1:30.
Regarding client support services, the organization offers email, WhatsApp, and real-time chat 24 hours a day and seven days a week. It can do business with users in more than 50 countries and over 16 languages.
Deposits and Withdrawals
It is very convenient to deposit to your Plus500 account. Users are required to enter the trading platform of the organization, press the “Fund Management” button, and select “Deposits.” Then, they must choose a payment method, fill it out, and press “Submit.”
Credit cards, Visa, and MasterCard can be used to deposit funds in live accounts created with Plus500. Deposits from electronic wallet payment methods, such as Paypal and Skrill, are also allowed by Plus500, along with Bank Wire Transfers.
Every deposit method requires a minimal and maximal deposit and a standard delivery time. Wire transfer deposits might take up to 5 days.
The trading platform also performs withdrawals. Traders are only required to press the “Funds Management” button, select “Withdrawal,” pick a withdrawal method, fill it out, and press “Submit.” The “Funds Management” section can be acquired on mobile phones by pressing the Menu button.
Plus500 Trading Platform and Tools
Plus500 trading platforms are convenient to run and appear to be ideal for the ones who are focused on dealing in various markets. With a single screen, traders can acquire live quotes for any asset market and conduct transactions.
A desktop version of Plus500 called “Windows Trader” is accessible along with an online version called “Web-Trader.” Moreover, its mobile applications are also available for Apple, Android, and Windows devices.
Below is a snapshot of Plus500’s performance, showing trade execution, a basic chart, a market price overview, balance reports, and position.
Plus500 also offers funds Management features, enabling traders to withdraw and deposit via their accounts.
Plus500 allows the traders to see the different markets and carry out trade but also enables them to evaluate previous transactions and monitor present positions.
The platform also allows basic charting alongside various time spans accessible. The platform does not support the simultaneous display of multiple charts; hence, only a single chart can be presented simultaneously.
Additionally, to features provided by various Plus500 versions, the dealer has produced more valuable tools.
Economic Calendar is one of these tools. Trade Alert assistance is also provided along with a Trader’s Guide.
Some risk management tools are also provided. The platform supports Trailing Stops and Guaranteed Stops along with Close at Profit and Close at Loss rates. A detailed explanation of these tools and their characteristics is available on Plus500.
Assets Portfolio
A surprisingly broad range of tradable assets is supported by Plus500, including CFDs, Cryptocurrencies, Options, Indices, Forex, and Commodities, and it is one of the finest to be chosen.
Each of the above classes comprises a large number of tradable assets. For example, the crypto portion doesn’t settle for multiple crypto pairs. Also, it has a minimum of a single crypto pair (ETH/BTC) along with a crypto index, i.e., Crypto 10 Index. The index tracks the performance of 10 leading cryptocurrencies and allows traders to invest entirely in the section.
The platform also describes various taxonomies depending on the index, i.e., country-wise and sector-wise. Trading of almost 50 indices can be done.
The Forex class comprises several minors, primary, and exotic currency pairs.
It also provides a wide range of commodities. Other than the typical ones, the dealer supports multiple agricultural Commodities, like feeder cattle. Moreover, well-explained details are also provided by the dealer on each Commodity, along with the views of the trader upgraded in real-time.
It supports hundreds of shares, like cannabis shares. The same is the case with options and ETFs.
Of course, trading most of the above assets is done through CFDs. Traders can buy and hold commodities and cryptocurrencies via the dealer.
Trade Commissions and Fees of Plus500
Plus500 operates a transparent commission and fee model. There is no application fee for deposits and withdrawals, live FX quotes, charts and graphs, actual trading, etc.
Traders experience expenses which are because of the following reasons:
- Unexpected funding.
- Inactivity fees – If the traders do not log in to their accounts for three months, they must pay an inactivity fee of 10 monthly.
- Spread fees can be floating or fixed and are presented independently for each trading tool.
- Guaranteed stop order fees – These are based on broader spreads because of their guarantees.
Research and Education
Plus500’s education appears to be restricted to the trader’s guide. This portion of the website contains a string of trading videos encapsulating the basics. Also, CFD is analyzed along with slippage, and there’s also a tutorial video for the platform.
Only three such videos are accessible from 2019, which is significantly fewer.
Trader Support
The client support services of Plus500 are accessible 24/7. However, users can only contact the support team via real-time chat and email. No phone service is present, creating trouble circumstances for users if their internet stops working, and they must close a position rapidly over the phone.
The best advantage of using Plus500 is its website, client support, and platforms, which are accessible in multiple languages. It gives exclusive benefits to those who do not have English as their primary language.
The organization does not offer education-related stuff to users. However, a section on its website answers the frequently asked questions.
Mobile Trading
Plus500 offers mobile applications for iOS as well as Android-based smartphones. Apple users can access them via the App Store, while Android users can access them via the Google Play Store. It also offers a mobile app for Windows-operated smartphones.
Their Apple and Android applications possess strong ratings. They offer brilliant charting and access to most asset classes and time frames.
To Trade or Not to Trade with Plus500
Plus500 is a comprehensive trading platform that enables users to trade CFDs on Equities, Commodities, Currencies, ETFs, and Options. The convenient trading platform makes trading various assets a reality via its desktop, web, and mobile applications.
Plus500 is a suitable platform for those who want to deal with a broad range of asset classes via a convenient trading platform. Despite that, the lack of support service via phone and the deficiency of academic staff might add to the negatives, particularly for beginners. In addition, its inability to display various charts at a time might also contribute to its negatives.
FAQ:
Is Plus500 legal?
Plus500 is a legal web-based trading platform. Several present and previous users might disagree with it; however, it does not influence the fact that this platform delivers what it assures. It also makes a broad category of tradable assets accessible to the users, settles trade, and enables the users to use the trading platforms easily.
This platform is popular among its users. As stated on its official site, it’s a UK FTSE 250 company and is regulated.
Separate accounts are used to hold users’ funds in Plus500. It has over two hundred thousand active users and earned over $1,310 billion in trading value.
Is Plus500 a quality dealer?
Answering this question is a bit tough. As stated by Plus500, it is the world’s most excellent dealer. Several users also acknowledge its services, while others don’t like it. Several users consider it a fraud.
The users most like the following features:
- Offers demo account
- The desktop version and mobile applications are uncomplicated and convenient to use.
- Rapid withdrawals.
The issues that the users have complained about are:
- Losses due to the dealer’s fault.
- The reluctance to assist with issues.
- System faults cause the random closing of a position.
- Refused withdrawals.
- Less than standard support.
Reviews of users are primarily unreliable and sentiment-based. Always keep this in mind when taking the above into account.
What is the minimum deposit for Plus500?
Plus500’s minimal deposit is dependent on the deposit method. The website is hesitant to offer transparent information about this.
The minimum deposit for several deposit methods is 100 dollars. Additionally, it can increase as much as 500 dollars.
Is Plus500 Regulated?
Plus500CY Limited represents Plus500. It is registered in Cyprus, and its organization# is HE333382.
CySEC licenses it. The license# of this dealer is 250/14.
Theoretically, regulation of this kind implies that it is MiFID compliant. It can legitimately trade its CFDs in the entire European Economic Area, except the countries that consider it forbidden.
Where is Plus500 located?
Plus500 is located in Cyprus. Their address is Plus500CY Limited, 1 Siafi St., 3042 Limassol. It is situated near Limassol Marina, and it’s the same building that caters to the base of Top Forex company.
