72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
- Access to over 2,000 trading instruments
- Regulated by many regulations
- Guaranteed stop-loss orders
- Functional and Easy-to-use platform
- Negative balance protection for customers
- No API
- Research resources and education are non-existent or limited
- Doesn’t accept U.S. customers
Table of contents
- Plus500 offerings
- Plus500 tutorial
- Plus500 alternatives
- Plus500 Account types
- How to open your account?
- Requirements for opening an account:
- Becoming a professional-client at plus500:
- Features of plus500:
- Plus500 Leverage
- Plus500 payment methods
- Plus500 minimum deposit
- Trading platforms:
- Is plus500 safe?
- Plus500 fees:
- Plus500 withdrawal time:
- Who is plus500 best suited for:
- Plus500 bonuses:
Plus500 is an Israeli listed CFD trading platform on the stock exchange, with offices and subsidiaries in the UK, Australia, Singapore and Cyprus.
Plus500 is one of the leading CFDs (contract for difference) providers. It offers trading facilities on forex, commodities, shares, ETFs, indices, and options. Currently, it offers nearly 2000 instruments and advanced features and tools to help traders well manage the trading account that includes stop loss, guaranteed stops and stop limits, along with push notifications and emails.
Traders who are interested in cryptocurrencies such as bitcoin, plus500 is one of the brokers which offers cryptocurrency CFDs.
Plus500 provides opportunities for trading more than 2000 CFDs in 7 different market categories. Either you want to get exposure to prices of cryptocurrencies, forex, commodities, shares, indices, or options, all of this is possible through CFD offerings of plus500.
Plus500 offers trading in over 20 commodities CFDs. These include valued metals such as platinum and gold, energy commodities like gasoline and oil, and other agricultural commodities such as coffee and wheat.
At the platform of plus500, several well-known cryptocurrencies are available for trading as CFDs. You can do Crypto CFD trading 24/7, unlike other instruments that only allow trading from Monday to Friday.
*Availability subject to regulations.
Plus500 offers its clients to speculate on the costs of more than 90 ETFs (exchange-traded funds). These include SPDR, USA500 and VXX volatility by CFDs.
Over 60 currency pairs are covered by plus500’s forex CFDs, including three major pairs such as GBP/USD, EUR/GBP, and EUR/USD.
Index CFDs are available for trading on plus500 and it covers stock market indices from around the globe. They include ASX 200, NASDAQ 100, USA 500, France 40, and UK 100.
The company provides call and put options CFDs for more than 20 popular stocks, currency pairs, and indices.
Plus500 is a top-of-the-line trading site with a diverse range of products and features. A few other trading sites with similar products and features are listed below.
|Trading Platform||Fees||Our valuation||Review||Promotion||Website|
|Top pick||Zero commission*
Plus500 Account types
Plus500 gives the same CFD account to all its clients or traders, while it provides a professional account to the traders who fulfill two of the three requirements. For traders with a pro account, specialized services are offered that are required by many regulators. The traders having standard account get leverages limited to 1.30, while traders having professional account enjoy leverages of 1:300.
The platform offers a demo account that provides features and functionalities the same as a retail account. 50,000 USD is a starting virtual balance, and when you go below 200 USD( or the equivalent currency amount), your balance will be automatically refilled. The major benefit of using a demo account of plus500 is that you have an unlimited time limit to use the demo account.
How to open your account?
You need to follow some simple steps for opening an account at plus500.The process can be completed on both desktop and mobile as it is wholly digital. This makes it very easy to join the platform wherever or whenever you want.
Below are the steps you should follow to open an account:
- Click on the “start trading” button located at the top-right side of the page
- Put your email address and desired password to make a basic account and then fill in the personal information.
- Confirm your current employment status, trading experience, financial details, along with your past knowledge of trading.
- Agree with the platform’s terms and conditions and alerts related to the risks of trading.
- Attach a photo of your passport, driving license, national identity card, residence permit, a scanned photo of your utility bills or bank statement, and social security number.
- The last step is to fund your account
Requirements for opening an account:
Following are the necessary details to fill to complete the registration process at plus500:
- Personal information: You need to provide your full name, home address, employment status, and email address.
- Regulatory information: This section includes information such as your prior experience in trading, average annual income, and knowledge about the basics of trading.
- Documentation: It includes a scanned photo of your passport/ driving license/bank statement/residence permit/utility bill and tax or social security number.
For opening an account, you will need to provide proof of your address and identity. It allows the platform to meet KYC guidelines. KYC (know your customer) guidelines make you feel safe and stop the broker from any accidental illegal activity like money laundering.
Becoming a professional-client at plus500:
Traders who wish to become a professional account holder must fulfill two of the following three criteria:
Sufficient trading activity:
You must have 10 transactions per quarter on average by the past four quarters with plus500 or any other broker.
You should have a financial instrument portfolio of about 500,000 euros. Cash savings can also be considered but not in place of direct commodity ownership, property portfolios, or the national value of those instruments.
Relevant work experience:
You should have at least one year of working experience in the financial sector that needs knowledge of relevant services and products.
Features of plus500:
Some useful features of plus500:
‘Close at Profit’ [Limit] and ‘Close at Loss’ [Stop loss]
Plus500 provides instructions about stop loss and limits to take profits which have pre-defined in the trade setup.
This feature of plus500 saves the trader’s capital in any case of market gaps or huge slippage. You can use guaranteed stop in some certain assets on plus500. A checkbox will appear beside every asset that supports this feature. While setting up a new trade, a guaranteed stop should be selected. It doesn’t apply to active positions.
Plus500 allows setting price alerts to get notifications whenever any asset hits a certain buy or sell price. This feature can be seen as a bell icon in the instrument list. Click on the bell icon to open a “price alert” screen. This price alert is shown in the form of email, SMS, or push notifications to the traders.
For example, if the gold is trading at the price of $1205 per ounce and you are hoping for it to be traded at $1050. If the price ever reaches this point, you will receive a notification about the new price. This feature is useful for traders who trade with limit orders.
It is a trade protection feature that protects your position from reverse movement during locking in gains when the price is in the direction of trade. A trailing stop only acts with the trade when it is in the position of profits. Whenever a trade reverses its position, it freezes and closes the position if it touches the trailing stop level already pre-set.
When opening a position, leverage refers to borrowing money from a broker.
- Forex & Currencies – Leverage is up to 1:300*
- Indices – Leverage is up to 1:300*
- Commodities – Leverage is up to 1:150*
- Stocks– Leverage is up to 1:20*
- ETF- Leverage is up to 1:20*
- Cryptocurrencies – Leverage is up to 1:20*
*Leverage varies depending on the regulation and the entity with which the account is opened. Furthermore, being a professional client can assist in achieving the aforementioned leverage.
Plus500 payment methods
Plus500 accepts different payment methods according to their convenience. But every deposit method has its deposit level. You can find further details on the deposit section of the trading platform. Below are the payment methods you can use:
- Electronic wallets (Skrill or Paypal)
- Direct bank transfer of funds
- Credit/debit card ( some limitations can occur according to your area)
Plus500 minimum deposit
The minimum deposit amount at Plus500 varies depending on the deposit method. Deposits made with credit/debit cards or electronic wallets cost $100; bank transfers cost $300.
72% of retail investor accounts lose money
Plus500 offers different trading platforms to its customers that can be compatible with your smartphone, tablet, and desktop devices. Trading platforms are as follows:
- iOS Trading app for iPads and iPhones
- Plus500 web trader that can run on internet explorer, Google Chrome and Mozilla Firefox.
- Windows phone app
- Android trader for android devices
- Windows 10 trader, that runs on the computer that uses windows 10 software
Is plus500 safe?
Plus500 acts as principal and fences its exposure to avoid market risk and eliminate material losses. Plus500 is registered with the following authorities to keep the platform safe:
- Plus500UK Ltd is regulated and authorized by FCA #509909
- PLUS500CY Ltd is regulated and authorized by the Cyprus Security and exchange commission, (Lic No 250/14)
- Plus500AU Pty Ltd FSP No 486026 issued by FMA and AFSL #417727 issued by the ASIC in New Zealand.
- Plus500SG Pte Ltd, is regulated and authorized by the MAS (#CMS100648-1) and IE Singapore
- Plus500SEY Ltd is regulated and authorized by Seychelles financial services authority with license No #SD039.
The company generates most of its revenue from trading costs from spreads charges on more than 2000 assets. It doesn’t get any commission on trading but there are other indirect fees involved. Some assets have higher costs than other brokerage companies and some have lower costs to balance out. Plus500 remains transparent about all the expenses involved to give its clients a clear idea.
The company claims that it doesn’t charge any withdrawal fees unless the trader exceeds the monthly limit of the withdrawal amount. It also charges $10 monthly inactivity fees, if you don’t log in for 3 months on your account.
“There some more charges for which you can find more information at https://www.plus500.com.cy/en/FAQ/FeesCharges/DoYouChargeAnyFees“;
Plus500 withdrawal time:
The time period is based upon the payment system and the third party remitter. Withdrawals are processed within 1 business day.
The withdrawal screen on the trading platform has withdrawal criteria for each payment process. Processing less than the minimum withdrawal sum can result in charges to your account.
The following withdrawal methods are available. Some of the approaches may not be available in your area.
Electronic wallets- PayPal or Skrill. Funds will be credited to your account after your withdrawal has been approved.
(From) bank to bank funds move. Funds should be issued within 5 business days from the authorization of the withdrawal. Deposits could be subject to delays if the bank/local institution’s law / legislation needs further account approval.
Funds should be received in the cardholder’s bank account according to the card issuer’s processing time.
Who is plus500 best suited for:
The company is best for people who want access to huge financial markets with low costs for trading and easy to use platform for their trades. The platform attracts traders who prefer manual transactions.
The company offers a reward to its clients for using the platform in a form of bonuses. It offers first deposit bonus such as 80 TPoints and A$/S$80 or R850, for SILVER it is 200 Tpoints and A$/S$300 or R1,600 and for BRONZE it is 150 TPoints and A$/S$200 or R1,000.
Each Plus500 Bonus Code grants more funds, tied to trading points, required to make cash withdrawal.
The other three levels of the program – Gold, Platinum and Diamond – require a minimum deposit of A$7,500, A$/S$15,000 and A$/S$75,000. The total amount of bonus capital and TPoints are awarded accordingly.
“T&Cs Apply. Bonuses are not available to retail clients of Plus500CY Ltd and Plus500UK Ltd”
Plus500 provides an enticing trading experience with its zero-commission model. The clients of this platform appreciate international trading with CFDs for some assets like cryptocurrencies, shares, indices, commodities, and more. Moreover, the platform lets its clients check their strategies on the demo account that will never expire and can be carried with the live trading dashboard.
However, plus500 rejects the model of the multi-account facility for one individual and has room for improvements in its model. Its reputation is well deserved as an easy to use and powerful model.