PLUS500 REVIEW: PROS & CONS
Have you come across this financial app and wonder what it is all about? In this review, we will walk you through the key points to consider when evaluating its features and benefits.
Last Update:
3.7.24
BASIC INFO
Plus500 is a CFD broker that offers access to various markets, including stocks, cryptocurrencies, and more.
82% 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.
PROS & CONS
PROS
+20 Years in Business
This platform has been in business for over 20 years, demonstrating its experience and reliability. Users can trust the platform's long-standing presence in the industry.
Regulated by a Credible Government Agency
This platform is regulated by a credible government agency, ensuring that it operates in compliance with industry standards and regulations. Regulation provides a level of security and protection for traders, as it requires the platform to adhere to specific rules and guidelines designed to safeguard the interests of market participants. Trading on a regulated platform can enhance trust and confidence in the trading environment.
CONS
Poor Customer Support
This trading platform offers limited customer support, leading to delays in resolving issues or inadequate assistance for traders. With subpar customer support, traders may face challenges in getting timely responses to their inquiries, resolving technical difficulties, or receiving necessary guidance.
High Trading Fees
This trading platform charges high fees. High transaction costs, including commissions, spreads, or other fees, affect trader's performance by offsetting profits and magnifying losses.
APPS
PLUS500 WEBTRADER
Web-based platform by Plus500. Provides tools for trading CFDs on various assets.
The image shows the user interface of the mobile trading application, highlighted by its intuitive and easy-to-navigate design.
The main screen presents a clear and concise view of the market, with quick access to a diverse range of assets, including stocks, forex, and indices.
ACCOUNT OPENING
How to Open a Trading Account with Plus500
Opening a trading account is a process that involves several key steps to ensure both your trading needs and the broker's regulatory requirements are met. Below, we describe the process in detailed steps:
Visit the Broker's Website: Access the official website (found in the index of this review). Look for the option to open a new trading account, which is usually clearly indicated on the main page.
Complete the Registration Form: Provide your details, including name, address, email, and phone number. Depending on Plus500's need to know you better as a client, additional information about your trading experience, employment, and financial situation may be requested. If registering from the European Union, you must complete a MiFID questionnaire (to evaluate your trading knowledge) as a mandatory step.
Identity Verification: Upload documents to verify your identity and residence. This generally includes a photo ID (passport or identification document) and a proof of address (utility bill or bank statement).
Set Up Your Trading Account: You can configure aspects of your account, such as currency type, leverage, and, in some cases, trading preferences.
Deposit Funds: Make an initial deposit using one of the payment methods accepted by the broker (We detail the alternatives later).
Access the Trading Platform: Download and install the trading platform. Log in with your account details.
Practice with a Demo Account (Optional): Practicing trading with virtual funds before risking real money means you won't be surprised when using real money.
Start Trading: Once your account is set up and funded, you can start trading.
How to Deposit
Once you have decided how much to deposit and which method to use, making the deposit is simple and quick. Just follow these steps:
Log in to your newly created account.
Click on "Deposit Funds".
Enter the amount and select the currency.
Finally, select your chosen deposit method. Don't worry, it's a secure and private process. Transactions are communicated using Secure Socket Layer (SSL) technology.
Below we show you the available alternatives.
Deposit & Withdrawal Methods
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ASSETS & SERVICES
Plus500 is a solid choice for investors interested in CFD (Contract for Difference) trading. They offer a wide range of CFDs on a set of financial assets, including:
Forex: Traders can speculate on the fluctuation of exchange rates between major currencies with CFDs on pairs such as the EUR/USD, GBP/JPY, and USD/JPY.
Stocks: CFDs on companies stocks listed on various stock exchanges like Apple, Amazon, Microsoft, and many others.
Stock Indices: Stock indices represent the performance of a group of stocks on a specific stock exchange. You can trade CFDs on indices such as the S&P 500, FTSE 100, and DAX.
Commodities: CFDs on crude oil, gold, silver, natural gas, corn, coffee, and other commodities. Investors can speculate on the price movements of these commodities, which are often influenced by economic and geopolitical factors.
Cryptocurrencies: CFDs on various cryptocurrencies, such as Bitcoin, Ethereum, Ripple, and Litecoin.
Options: CFDs on Call and put options on Germany 40, Oil and Meta are available for trading with leverage.
ETFs: You can trade on CFDs on the ETFs market with leverage, meaning any potential profits or losses will be multiplied.
REGULATION
United Kingdom
FCA
Financial Conduct Authority
Australia
ASIC
Australian Securities & Investments Commission
Cyprus
CySEC
Cyprus Securities and Exchange Commission
South Africa
FSCA
Financial Sector Conduct Authority
New Zealand
FMA
Financial Markets Authority
Seychelles
SFSA
Seychelles Financial Services Authority
Plus500CY Ltd authorized & regulated by CySEC (#250/14).
Plus500SG Pte Ltd, licensed by the MAS (#CMS100648-1).
Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039).
Plus500AU Pty Ltd (ACN 153301681), licensed by: ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546. You do not own or have any rights to the underlying assets. Consider if you fall within our Target Market Distribution. Please refer to the Disclosure documents available on the website.
Plus500EE AS is authorised and regulated by the Estonian Financial Supervision and Resolution Authority (Licence No. 4.1-1/18).
Plus500AE Ltd is authorised and regulated by the Dubai Financial Services Authority (F005651). It holds a category 4 license with a 'Retail' endorsement and is not authorized to hold or control client investments or client money.
Plus500IL Ltd is registered in Israel (Company No 515233914), holding a license to operate a trading platform granted by the Israel Securities Authority.
The trading of futures is available through Cunningham Commodities, LLC d/b/a Plus500, a Futures Commission Merchant registered with the US Commodity Futures Trading Commission and a member of the National Futures Association (NFA ID number 0001398). Cunningham Commodities, LLC is a wholly-owned subsidiary of Plus500US Inc.
Plus500JP Securities Ltd is authorized & regulated by the JFSA (#156)
Plus500UK Ltd authorized & regulated by the FCA (#509909).