Plus500 is a globally recognized broker as it is subject to several regulations by several financial authorities such as UK FCA, ASIC (Australian Securities and Investments Commission) and others. The Plus500 company was founded in 2008.
- Easy to use platform
- Guaranteed stop loss orders
- Free Demo Account
- Over 2000 assets
- Only CFD trading
- Limited Education & Research tools
- Customer support lacking
Overview on Plus500
Plus500 is a globally recognized broker as it is subject to several regulations by several financial authorities such as UK FCA, ASIC and others. The Plus500 company was founded in 2008 in Israel and is currently headquartered in Haifa.
The company Plus500 is renowned as a reliable and serious broker because it is listed on the London Stock Exchange (LON:PLUS), therefore publishes its financial data.
This broker only offers CFD trading, on a wide choice of asset classes such as forex, commodities, stocks, cryptocurrencies and ETFs.
Plus500 trading platform is simple and easy to use, including a well-designed mobile platform.
Opening an account is quite quick and several payment methods are available.
The main fees at Plus500 are spreads and rollover fees. Plus500’s fees are average compared to the competition.
The platform lacks certain trading tools for technical and fundamental analysis.
At the marketing level, Plus500 also sponsors several football teams such as Atlético de Madrid and Atalanta B.C.
Receive a free demo account on Plus500 by clicking here.
Plus500 Fees & Commissions
Plus500 is remunerated for its services via the Bid / Ask spread, so when you open a position you are essentially “paying” the spread. This spread is built into the stated rates of Plus500 and is not a charge or additional charge payable by you above the stated rates.
To display the spread of a specific instrument, all you have to do is:
Sign in to your account.
Search for a specific instrument.
Click the Details icon and scroll to the Info section.
The fees below may be applied to your account, depending on your trading activity:
An overnight funding amount is added or subtracted from your account when you hold a position after a certain amount of time (called the “overnight funding duration”). You can read more about it here.
Guaranteed stop order
A single order type is used to help you manage risk by guaranteeing the stop loss level. If you choose to use this feature, please note that since it ensures that your position closes at a specific requested rate, it is, therefore, subject to a wider spread.
A fee of up to $ 10 per month will be charged if you do not log into your trading account for a period of at least three months. These fees will be billed once a month from that point on, as long as no connection is made to the account.
Deposits and withdrawals
Plus500 does not charge deposit and withdrawal fees!
As part of our commitment to providing the best possible trading conditions, Plus500 cover most payment processing fees. On rare occasions, you may incur fees when transferring money to and from your Plus500 account. These are determined and charged by your payment issuer or bank, and not by Plus500.
How to open an account on Plus500
Plus500 Deposits & Withdrawals
At Plus500 withdrawals are processed within one working day of the opening of the withdrawal request. The time taken to receive payment depends on the method of payment and the processing time of the third-party shipper.
The withdrawal screen on the trading platform shows the minimum withdrawal requirements for each type of payment method. Processing a withdrawal request for an amount less than the minimum withdrawal amount may result in charges to your account.
Below are the withdrawal methods that Plus500 offers. Please note that some of the methods may not be available in your region:
PayPal or Skrill. Funds must be received in your e-wallet account within 3-7 business days after authorization of the withdrawal.
The direct transfer of funds from bank to bank. Funds must be received in your bank account within 5 business days of authorizing the withdrawal. Withdrawals from a bank account may be subject to additional delays sometimes depending on the banking institution and jurisdiction in question.
Credit / Debit Cards
Funds must be received into the bank account associated with the relevant card based on the processing time of each bank.
The policy of Plus500 is, whenever possible, to make withdrawals from the same source that was used to make the deposit to the customer’s account. For example, if a customer makes a deposit using a Visa card. Plus500 will always try to process any subsequent withdrawals to the same Visa card account first. Once the withdrawal is authorized, the funds must be credited to the customer’s Visa card account prior to their next monthly debit/bill date.
Plus500 Trading Platform
WebTrader is the designed platform of Plus500. it offers a simplified, stable and easy to access trading experience from different devices and systems like PC, smartphones and tablets.
WebTrader has a simple and easy to use interface that allows you to create watchlists, analyze charts, and place and monitor trades. Technical Analysis Charts offer over 100 technical indicators that you can apply to many different time frames, from tick charts to weekly charts. However, unlike many of its competitors, Plus500 does not offer the extremely popular MetaTrader 4 (MT4) or MetaTrader 5 platform. MT4 and MT5 are platforms alternatives that would offer more features and customization options to clients.
The most attractive feature of WebTrader is that it is easy to use with layouts that will be familiar to experienced traders. Clients can choose from over 2,000 instruments. They can analyze their selection on a customizable technical analysis chart, and place their trade with just a few clicks, all in one window. Unfortunately, WebTrader is a closed system. Advanced traders who rely on integrating third-party analysis and automation tools into their trading process will be disappointed as none of these tools can be integrated directly into WebTrader.
Plus500 does not offer any of the special features that are generally available from other online forex brokers. It does not allow automated trading through expert advisers or other trading algorithms. It does not provide back-test functionality, nor does it allow clients to manage third-party funds through the PAMM or MAM trading platforms. The company simply provides a streamlined WebTrader platform as well as similar mobile trading apps for iPhone, iPad and Android devices where clients can place and monitor trades.
Guaranteed stops are available in some markets; however, they come with an increased spread and cannot be added to previously opened trades.
WebTrader offers three basic order types with the possibility of attaching “take profit” and/or “stop-loss” orders to them. Additionally, the trader can choose both guaranteed stop and/or trailing options when filling out the order ticket prior to execution.
The simplest order is where a trader signals that their trade request should be executed at the prevailing market rate.
A pending order where entry is at a predetermined point below or above the prevailing market rate depending on whether it is a buy or a sell. The trader also has the option to select the expiration time of this order.
A pending order where entry is at a predetermined point above or below the going market rate depending on whether it is a buy or a sell. The trader also has the option to select the expiration time of this order.
Plus500 Mobile app
The Plus500 mobile apps include all the features available in the desktop app. Traders can access Plus500’s entire product catalogue, account details, conditional orders, and charts (with over 100 technical indicators) from Android, iPhone or iPad mobile apps.
Dynamic graphics can be extended to full-screen mode to provide more clarity during the analysis process. Customers can also deposit and withdraw money from the mobile app. However, some merchants will be concerned about the lack of enhanced security measures. Especially since these apps offer a direct line of access to funded accounts. Customers also cannot use the MT4 mobile app. Which has greater functionality and maybe a more familiar interface for experienced investors.
Plus500 CFD Assets
Plus500 Customer Service
Plus500’s customer service options are limited to live chat and email support, available 24/7. What is unfortunate is the absence of a telephone number, even for commercial offers. Prospective and current customers should submit their inquiries via live chat or a 24/7 email ticket system. The response time is relatively quick but no in-person assistance is available.
The online chat is easy to use. But the responses to requests make it look like a chatbot was in use. This is not a problem as the software is good at detecting frequently asked questions and linking to a resource in the FAQ or providing an answer. Communication with a human agent is relatively fast when needed. Even with these limitations, customer service responses to inquiries are prompt and knowledgeable.
Plus500 Trading Tools & Education
Plus500 has no research. The company offers a limited educational section called a Trader’s Guide, with several videos that can help new traders get started. They also have a fairly comprehensive risk management section that teaches traders how to best mitigate their risks when trading. Some brokers have argued that advanced traders do not need to be trained because they already know how to trade, and this claim has some validity.
However, given that Plus500’s platform is relevant to traders across the board. It would be nice if the company expanded its educational offerings. But apparently, Plus500 expects its customers to know what they are doing, or, at the very least, that they look for teaching materials elsewhere.
Plus500 Regulations & Safety
Although regulations are the most important, the fact that Plus500 is publicly traded gives confidence and transparency.
Plus500 is also one of the brokers with the most regulation, which is an advantage for traders wishing to trade with a reliable broker based locally. The main regulator of Plus500 is the Financial Conduct Authority (FCA) in the UK. Which is among the strictest and most trusted CFD brokers in the world. Traders are protected by the Financial Services Compensation Scheme, up to £ 85,000, in accordance with regulatory requirements.
This CFD broker also operates a subsidiary regulated by the Cyprus Securities and Exchange Commission (CySEC). Which gives it authorization throughout Europe. Plus500, therefore, falls under the Financial Instruments Directive 2014/65 / EU or MiFID II. Traders are protected by the Investor Compensation Fund (CIF) with maximum coverage of € 20,000, as stipulated by the European directive.
Plus500 also serves traders through regulated entities in Australia, regulated by the Australian Securities and Investments Commission (ASIC). New Zealand under the supervision of the Financial Markets Authority (FMA).
In South Africa, Plus500 is authorized by the Financial Services Board (FSB). Also in Singapore regulated by the Monetary Authority of Singapore (MAS).
The brokerage also has an Israeli branch regulated by the Israel Securities Administration. In accordance with regulatory requirements, client funds remain segregated from company funds. This Broker serves traders from an appropriate regulatory framework (or more precisely, multiple regulatory frameworks), and traders can trust this broker for deposits.
Plus500 is a very good CFD broker. We recommended only for traders who are aware of the risks of CFD trading. This broker is regulated by several financial authorities around the world and is listed on the London Stock Exchange.
At Plus500, scalping is defined as “a trading strategy based on the idea that client trades are opened and closed within 2 minutes in order to accumulate quick profits from small price changes”. If the platform thinks you are scalping, your account may be blocked and closed. Therefore, if you plan to execute a lot of trades within 2 minutes, Plus500 is not your broker.
The platform is easy to use, providing a great user experience even for beginners. Account opening and customer support are working well.
On the other hand, CFDs are the only product offered that you can trade, research tools are limited and CFD fees are average.
As there is a minimum deposit required, no withdrawal fees for withdrawals over $ 100 and inactivity fees only apply after three months. Just make sure you don’t use up all of your capital as it is very easy to lose money trading CFDs with this or any other provider. Good Trading.
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