Forex Trading, Best Forex Brokers Reviews, Forex Bonus

Plus500 - Review

Last Updated: 19 Thursday, Sep-2019
Plus500
For verified ratings of our services, please view our: 4.9 Star Rating on Plus5004.9 Star Rating on Plus500
89%10020
Awesome
  • Design

Plus500 is pular forex and CFD brokerage brand that offers its services globally through the internet. The company’s head office is in Israel while the branch offices are in the UK, Cyprus, Australia, Bulgaria, and Singapore. Plus500 began operations in 2008 and has since become a global brand with over 300,000 active customers from over 50 countries. Plus500 stock shares are publicly traded on the London Stock Exchange (PLUS: LSE). It is also part of the UK FTSE 250 index.

plus500 review

 

Plus500 Regulation and Security

Plus500 is licensed and regulated in various countries. In the UK, the FCA regulates its operations. In Australia, the ASIC controls its operations. MAS regulate broker operations in Singapore. The ISA regulates the Israeli operations while CySEC regulates its operations in Cyprus and other European regions.

All client funds are securely held in segregated bank accounts and are not used by the broker for its daily expenses. The UK and European clients are covered by insurance provided by the Financial Services Compensation Scheme (FSCS). The FSCS can pay traders up to €20,000 if Plus500 becomes insolvent. To further protect its clients, Plus500 has implemented standard security measures, including SSL, which encrypts all data transmitted over the internet.

Tradable Assets on Plus500

Plus500 assets index consists of 70 forex pairs, 30 indices, 12 crypto assets, 22 commodities, over 80 ETFs, and numerous stock shares and options. The broker asserts that it offers over 2000 trading instruments.

Trading Account Types

It takes only a few seconds to open a Plus500 trading account. If you already have a Facebook or Google account, Plus500 can receive your profile information from these websites. The broker only offers one retail account to all clients. $100 is the minimum deposit required, and the maximum leverage is 1:300. But, clients in the European region are offered a maximum of 1:30 due to the European Securities and Markets Authority (ESMA) restrictions. Also, eligible European clients can request for ‘Professional Accounts’. This professional account is exclusively for experienced traders with huge trading capital. It comes with increased leverage capped at 1:300. Demo accounts are always available at no cost and without restrictions.

Trading Conditions

All broker charges are integrated into the spread as Plus500 charges no commissions at all. The spreads offered on most instruments are low compared to other brokers. For instance, the spread of the popular EURUSD averages 0.7 pips. Rollover fees apply to accounts that maintain open positions overnight. When an account is not used for 90 days, Plus500 starts charging ‘inactivity fees’ of $10 every month.

Payment Options

Several payment methods are available depending on the client’s country of residence. Paypal and Skrill are the global e-wallet payment options accepted by Plus500. Popular debit/credit cards such as Mastercard and Visa cards can be used for deposits and withdrawals. Cards and e-wallet deposits are processed instantly while withdrawals take 3-7 days. ‘Bank transfer’ is the direct transfer of funds between a broker’s bank and the client’s bank. It can be used for both deposits and withdrawals. Bank transfers take 5-7 days for the process to complete.

Web, desktop and mobile trading platforms

Plus500 offers only its proprietary trading platform to all clients. The platform is available as WebTrader, which can be accessed through web browsers. Plus500 platform is also available for downloads on windows 10 desktop computer and on mobile devices including android, iOS, and windows phone. The platform is user-friendly, customizable, and is available in 30 languages. It has over 90 inbuilt indicators, drawing tools and 8 chart styles that can be displayed against 10 timeframes. Tools like price alerts, trailing stop, economic calendar, etc. are featured in the trading platform.

Customer Support

The Plus500 support desk is constantly available 24/7. They can be reached through email, online chat, WhatsApp, and on social media; Facebook, Instagram, and Twitter. The support team is multilingual, courteous, and always ready to assist.

Research and Education

Unlike most top brokers, Plus500 does not provide daily news, analysis, and market insights on its website or platform. Three video lessons are provided on the “Trader’s Guide” page on the website. It consists of lessons on Slippage, how to trade with Plus500 and CFD trading. The total time duration of the videos is less than 5 minutes. This is incapable of training a newbie.

Bonus and Promotions

Plus500 offers some bonuses to its non- European clients. ‘Initial Deposit’ bonus is given to eligible new traders. Up to $10,000 can be received from the bonus depending on the deposit amount and the frequency of trading. ‘Rebates’ are weekly rewards given to active traders. It automatically accumulates as the open trader positions by buying or selling assets of interest. The rebates are ready to be credited to the trader’s account every week. ‘Trader points’ are received based on a client’s trading activity. In order to withdraw a bonus, a specific trader point must be reached.  Plus500 is the principal sponsor of the Spanish football club “Atletico de Madrid” who plays in the Spanish premier league known as “La Liga”. They are 10 times La Liga Champions, 10 times ‘Copa del Rey’ champions and the 2017/2018 Europa League Champions. Atletico de Madrid players wear Plus500 crested football jerseys.

Conclusion

Plus500 is an experienced broker that has been in operations for over a decade. The broker offers a wide range of trading instruments on its proprietary platform. It is a regulated broker that complies with the stringent regulatory provisions.

However, the lack of trader education and daily research will deter many new traders from patronizing this broker. Most expert traders use trading systems, forex robots, Virtual Private Server (VPS) and complex trading strategies which are unavailable in the Plus500 platform. In summary, Plus500 is a reputable broker, but its services may not meet the demands of every type of trader.

Broker NamePlus500
Company NamePlus500UK Ltd
Foundation Year2008
HeadquartersUnited Kingdom
Regulated byASiC, CySEC, FCA
Broker TypeMarket Maker
Base CurrencyUSD
US Traders
Website LanguageArabic, Bulgarian, Chinese, Croatian, Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hebrew, Hungarian, Icelandic, Italian, Japanese, Korean, Latvian/Lettish, Lithuanian, Malay, Maltese, Norwegian, Polish, Portuguese, Romanian, Russian, Serbian, Slovak, Slovenian, Spanish, Swedish, Turkish
Trading Preference
Minimum Deposit100 USD
Maximum Leverage1:300
Minimum Spreads
Demo Account
Mini Account
Standard Account
VIP Account
Premium Account
Segregated Account
Islamic Account (Swap Free)
Managed Account
Pamm Account
Affiliate Account
Payment Options
Deposit MethodsCredit Card, Moneybookers, PayPal, Skrill, Wire Transfer
Withdrawal MethodsCredit Card, Moneybookers, PayPal, Skrill, Wire Transfer
Trading Features
Trading PlatformsPlus500
Fixed Spreads
Commission on Trades
Hedging
Scalping
Swing Trading
Automatic Trading
Mobile Trading
Web Trading
Signals
VPS Services
Email Alert
Trading News
Trading Instruments
Forex/Currencies
Commodities
CFDs
Indices
ETFs
Stocks
Crypto Currency
Promotion
No Deposit Bonus
Deposit Bonus
Contest
Other's Promotion
Support
24-Hours Support
Support During Weekends
Web Form
Live Chat
Call-Back
Support LanguageArabic, Dutch, English, French, German, Hebrew, Italian, Polish, Spanish
Contact Information
Websitehttps://www.plus500.com
Email[email protected]
TelephoneN/A
FaxN/A
AddressPlus500CY Ltd, 1 Siafi Street, 3042 Limassol United States

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

REMOVE ALL
COMPARE
0