PLUS500 Review
Contracts for Difference are offered by Plus 500, which is a leading player in this industry. The cutting-edge and user-friendly trading platform offered by the online broker facilitates trading on a variety of financial instruments, including equities, foreign exchange (Forex), exchange-traded funds (ETFs), indices, and commodities.
Plus500 Limited, the company’s parent company, is expanding at a breakneck speed and is now listed on the Main Market for Listed Companies of the London Stock Exchange. Plus500 is an online trading platform. Malta serves as the location of the company’s main office.
Plus500 is a trading platform that was established in 2008, and it allows users to speculate on changes in the values of cryptocurrencies, shares, commodities, indexes, foreign exchange, options, and exchange-traded funds (ETFs) without having to actually buy or sell the underlying assets.
In 2010, the company introduced a web-based version, making it possible for users of smartphones, Linux, and Mac computers to conduct business online. By 2011, Plus500 was processing more than 2,000,000 transactions each month. That same year, the company introduced a native trading app for iOS, which quickly became the highest-rated CFD trading app available on the Apple Store. The subsequent year saw the release of a native trading app for Android-based devices by Plus 500.
Why Should You Register at Plus500?
CFD traders all around the world will find Plus500 to be an appropriate online trading platform because it possesses the following features:
The company provides free real-time quotations, customer service around the clock, and more than 2,000 trading instruments.
0% commissions and there are no additional or hidden fees whatsoever A straightforward and user-friendly internet trading platform Trustworthy and dependable CFD and Forex broker that is also licensed and regulated
If you want to learn how to trade, watch these video lessons. Create a trading account, either for regular customers or for professionals.
Trading services are available in more than 30 languages.
CFD trading applications are available for both iOS and Android, and may be downloaded from the Apple Store and the Google Play Store, respectively.
Plus500 Comprises Four Entities That Are Licensed And Regulated In Their Field
Plus 500 is offered in more than fifty countries through four major organizations that are both regulated and authorized. Plus500 Cyprus, which is licensed by CySEC; Plus500 Australia, which is licensed by FMA, FSCA, and ASIC; Plus500 United Kingdom, which is licensed by FCA; and Plus500 Singapore, which is licensed by MAS. Each of these four entities possesses a valid license to operate in their respective jurisdictions. Plus500 Singapore is the sole company in the group that only provides retail accounts; the other three organizations provide both retail and professional account types.
The following is a list of characteristics that are shared by all four entities:
They provide protection against negative balances for all different kinds of accounts.
They keep the funds of each trader in their own individual accounts.
They provide facilities for trading CFDs in more than 32 different languages.
If you have questions about the distinctions made among the four different entities, you can speak with a representative of the customer service team. If you currently have an account with Plus500 and would like to switch to another entity, you can contact a customer support agent to discuss the possibilities of making the switch.
How to Open an Account and the Different Types of Accounts
To begin trading CFDs on indices, Forex, cryptocurrencies, and shares with Plus500, you will first need to register an account with the company. When you establish an account with Plus500, you immediately become a member of a vibrant trading community consisting of millions of other traders.
The following is a quick rundown of the steps required to open an account at Plus 500:
You can begin trading right away by selecting the prominent “Start Trading Now” link that can be found on the homepage.
This will send you to a screen where you may choose between Real Money Mode and Demo Mode.
Choose the Real Money option if you feel confident that you are prepared to start trading with actual cash.
Choose the Demo Mode if you want to spend some time learning how to trade without putting any of your own money at risk.
Accounts with Real Money
To open an account at Plus500 that can be funded with real money, follow these steps:
Select the Real Money option.
Please provide your email address and select a robust password.
Select “Create Account” from the drop-down menu.
Upon clicking that link, you will immediately be logged in to your Plus500 account.
You can also sign in using your Google or Facebook account, if you like. This choice is available to you.
Free Trial Account Available.
To create a demo account, you must first perform the procedures indicated above and then select the “Demo Mode” option from the drop-down menu.
You can hone your trading skills with a demo account without putting any of your actual money at risk. When you trade using a demo account, you won’t actually bring in any earnings that can be cashed out. When you are ready to begin trading with real money, you may easily switch over to an account that deals in real money.
Instruments and Platforms for Traders
Plus 500 provides you with the following trading tools to assist you in making judgments that will result in lucrative trades:
Make use of this calendar to stay abreast of the various events taking place in the world of finance all across the world.
Risk Management Tools – Plus500 provides you with a set of tools that are easy to use but strong in their ability to assist you in managing the risks that are connected with trading. The following is a brief explanation of these instruments:
Stop Loss and Stop Limit – When you initiate fresh positions in your trade, you have the option of including Stop Loss orders, which close at a loss, or Stop Limit orders, which close at a profit. Plus500 will automatically close your transaction at the rate you choose, maximizing the amount of profit you make and minimizing the amount of money you lose.
When you include a Guaranteed Stop order in your trade, you restrict the amount of money that could be lost as a result of the transaction. Plus500 will automatically close your position at the pace you chose without any slippage risks, even if the price of the underlying instrument is not moving in a direction that is favorable to you.
You can secure a predetermined amount of profits by using the Trailing Stop option, which is available to you. Your trading position will remain open so long as the price of the instrument moves in the direction you want it to go, but it will close by itself if the market swings in the opposite direction.
Alerts — Plus500 will send you real-time notifications via SMS, push notifications, and emails based on daily or hourly percentage changes, traders’ sentiments, and price alerts. On the Alerts page, you’ll find a button labeled “Create an alert immediately.” If you click on this button, you’ll be able to generate an alert whenever you choose.
Plus500 is a wonderful place to start if you don’t know how to trade and their Traders Guide can help you get started. The web-based trading platform includes a comprehensive Traders’ Guide complete with a plethora of video training lessons. When you feel that you have gained sufficient knowledge, you can open a demo account so that you can practice trading without the risk of losing any of your personal money.
Financial Tools Used in Trading
Plus500 provides its customers with a comprehensive CFD trading experience, complete with low spreads, no commissions, and dependable and lightning-fast order execution.
You are able to trade on the following instruments using the CFD service provided by Plus500:
Indices: You have the option to narrow your search for indices by both the industry and the country. There are a variety of indices available, some of which include the UK100, the USA 30 – Wall Street, the USA 500, France 40, Italy 40, Spain 35, Sweden 30, and the UX Brexit High 50 Index.
Forex: Plus500 offers contracts for difference (CFDs) on a wide range of currency pairs, including EUR/USD, EUR/CHF, AUD/USD, the US Dollar Index, AUD/NZD, GBP/JPY, NZD/CAD, and many more.
Commodities: Trade Contracts for Difference (CFDs) on a wide variety of commodities, including natural gas, silver, coffee, platinum, sugar, cotton, corn, and cocoa, amongst others.
CFDs are available on a variety of cryptocurrencies at Plus500, including Bitcoin, Litecoin, Ripple XRP, NEO, IOTA, Ethereum, Monero, Cardano, and Tron, amongst others.
Shares: The companies Amazon, Nio, and Beyond Meat, Facebook, Tesla, Visa, and BT, as well as the Cannabis Stock Index and Alphabet, are some of the most widely held shares.
Options: Some of the more well-known options include Put 195/Feb/Alibaba, Call 380/Feb/Europe 50, and Call 1540/Mar/Gold.
iShares Silver, OIH-Oil Service, Commodity Index Fund, GLD Gold, NUGT, and DVY are some examples of exchange-traded funds (ETFs) that you can trade.
Information Regarding Banking Procedures, Including How to Make Deposits and Withdrawals at Plus500
To add money to your Plus500 account, first navigate to “Funds Management,” then select “Deposit” from the drop-down menu that appears. Select the method of depositing funds that you like from the available options, then complete the form with the necessary information and send it in.
Plus500 provides its users with a variety of deposit options, each of which has its own set of minimum and maximum restrictions. Information regarding these limits may be found in the section labeled “Deposit.”
Plus500 accepts deposits using any of the following methods:
Visa & MasterCard credit/debit cards
Wallets made of digital media, such as Skrill and PayPal
Bank Transfer
You are free to make withdrawals of your winnings using the same method that you used to make deposits. You will need to go to the Withdrawal section of the Funds Management menu whenever you are ready to make a withdrawal. Pick the method of withdrawal you want to use, then fill in the blanks with the necessary information and send it in.
Plus500 will typically execute withdrawal requests within one to three banking days. This amount of time is necessary for the online trading platform so that it can carry out the necessary verification and safety checks.
The following withdrawal options are available with Plus500:
Electronic Wallets: Withdrawals made through Skrill or PayPal will be deposited into your account between three and seven banking days after the online trading platform has authorized the payment.
Bank Transfer: Withdrawals made by Bank Transfer take between 5 and 7 days to process after the permission date. However, this time span can vary significantly from bank to bank and country to country.
With credit cards, the length of time it takes to withdraw money varies on both your bank and the country in which you live.
Plus500: How to Get in Touch With Them
Plus500 is equipped with a support crew that is available around the clock to assist traders with any problem. On the website for online trading, you have the following options available to you if you need assistance or information:
Online Chat: To use the live chat window, navigate to the Contact Us page and look for the Online Chat link. Simply enter your name and email address below to begin a live conversation with a qualified customer service representative.
WhatsApp: To communicate with Plus500 using WhatsApp, go to the Contact Us page and click on WhatsApp. You also have the option of opening your WhatsApp application and sending a message to the number +44-7780-007-138.
Online Contact Form: This form can be found on Plus500’s page dedicated to contacting customer service. Please provide your name, email address, and the nature of your inquiry below. Select the kind of search you want to conduct using the dropdown menu. Type your message. If it is required, please upload a file. Mark the box to demonstrate that you are not a robot, and then click the “Send Query” button to communicate with Plus500 about your inquiry.
Social Networking Sites: If you use Facebook, Instagram, or Twitter, you will have the opportunity to engage in conversation with members of the Plus500 team as well as other traders.
Plus500’s Frequently Asked Questions (FAQs) are included here.
What other trading platforms are available to customers of Plus500?
WebTrader, as well as the Google Play and iPhone applications.
What is the bare minimum that must be deposited into a Plus500 account before one may begin trading?
100 USD.
If Plus500 were to go out of business, what would happen to my funds?
Plus500 has a client money protection policy that states the company keeps its customers’ funds in separate bank accounts so that it can remain in line with the client money laws imposed by its regulator. Hedging is never done with money from customers’ accounts at this company. Plus500 does not open up positions in the market that are speculative in nature. It does not put itself in jeopardy by taking on any corporate or sovereign debt. It does not invest money coming from individual customers.
If I use the Plus500 trading platform, would I be required to pay any fees to do so?
Plus500 does not have any hidden fees because the company generates revenue from the market spread rather than additional charges. Additionally, the majority of the fees associated with processing payments are covered. Your trading account will either see a decrease or an increase in the sums associated with overnight funding. Plus500 will charge you a fee to convert foreign currencies whenever you trade instruments in a currency that is not the same as the currency of your account.
How many different trading accounts am I allowed to create with Plus500?
There is a limit of one trading account per person that can be opened with Plus 500. On the other hand, the online trading platform might evaluate your situation and give you permission to register a second account. However, you are required to maintain complete autonomy over your additional account, and Plus500 will not permit you to move funds back and forth between the two accounts.
What are the steps I need to take to add virtual currency to my demo account?
When the amount on your sample account reaches €200 or its equivalent, Plus500 will automatically add funds to the account.
I have some money in my trading account; is it possible that I could lose more than that?
At Plus500, they have a unique function that is called “Margin Call,” and it ensures that you will never lose more money than you now have in your account. In the event that your account balance drops below the maintenance margin, Plus 500 will issue a margin call and close all open positions automatically. Plus500 recommends that you keep a close eye on all of your active positions and check to be that your trading account has enough money in it to cover any potential losses.
The Pros and Cons of Using Plus500: Should You Sign Up?
You need to carefully consider the benefits and drawbacks of Plus500 before making a decision on whether or not to become a member there.
Pros
A straightforward and user-friendly trading tool available online
Holds licenses issued by a variety of regulatory authorities located all around the world
Zero percent commission
Closely spaced spreads
Trading tools and risk management tools that can be helpful
Is affiliated with a well-known and well-established business
Cons
Does not provide any other trading choices outside CFDs and Forex.
Education section requires improvement
The tools used for market research and analysis are insufficient.
Trading strategies such as scalping and hedging are not permitted under any circumstances.
To summarize, Plus500 is a legitimate broker in that it possesses both a license and regulatory oversight, therefore it is risk-free to do business with them. However, it’s possible that the broker won’t be able to meet all of your requirements for trading. For instance, if you are a day trader and are looking for a broker, Plus500 is not the right choice for you because it does not allow scalping. In addition, if you are just starting out, you could find it helpful to work with an online broker that provides access to a greater variety of instructional resources.
We recommend Plus 500 because of its user-friendly trading interface, extensive expertise in the market, more than 2,000 trading instruments, outstanding customer assistance, protection against negative balances, and the complete absence of any hidden costs.
Due to the high levels of risk connected with CFD trading, it is recommended that beginners begin with a demo account. Find out exactly how CFD trading works before you start trading with real money.