500 Option Review

Best Binary Options Brokers 2020:
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Option500 Review – Is option500.com scam or safe forex broker?

Option500 is a brokerage owned and managed by Option Solution Group Limited, a financial services company whose headquarters are located in the Commonwealth of Dominica.

Disadvantages

There is no explicitly stated regulation on the brokers website. We cannot stress enough the importance of a brokerages compliance with a reputable regulatory agency such as the FCA or CySec. When such regulation is missing the high possibility of foul play permeates any potential dealings with the brokerage in question.

Regulators such as FCA or Cysec offer many guarantees such as a mechanism by which, in case of brokers bankruptcy, clients will be compensated for potential losses as much as 50 000 GBP per person. Regulators also require a minimum capital of 730 000 EUR for a company to be founded. This significantly lowers the risk of the brokerage being a scam. This is why we highly recommend interested traders check out other regulated brokers.

Many payment methods

Option500 offers their clients an array of payment methods including: Visa, Visa electron, Mastercard, Discover, Skrill, Delta, Neosurf, Cash, Bitpay, AstroPay, Sofort, Neteller, Wire Transfer, Paysafe, Moneta, Giropay, postepay and etc.

Clients of Option500 may choose to participate in a wide array of financial markets. They can trade in CFDs, currencies, stocks and indicies. Having a wide range of trading options does not limit traders and offers them adaptability in their dealings.That is why we always count it as an advantage.

The brokerage also offer CFDs on crypto currencies. Here is a list of more forex brokers that do offer such Р° market opportunity for their clients.

Option500 is an unregulated brokerage offering an interesting set of financial assets for potential traders. It has CFDs on currency pairs, commodities, indicies and more. Its platform is nothing special and there is a lot of essential information missing on its website such as account types or minimum deposits. The spread is way too high and we can not seem to find any information on the website for the leverage as well. As was mentioned – there is no regulation, which opens up for clients many risks and deprives them of assurance for the safety of their funds. Having in mind the complete lack of regulation, we recommend interested traders direct themselves to better and safer trading options.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

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  • Binomo
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    Good Broker For Experienced Traders!

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Plus500 Review

Very competitive spreads for a well-regulated broker

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  • Account Minimum: £0
  • Fees: EUR/USD—0.6 pips average
  • Best for: Cost-conscious traders

Plus500 is a streamlined broker that focuses on trading in a wide range of financial markets with relatively low spreads and no commissions but without offering many extra services. Plus500 has been in the forex and CFD business since 2008. They are registered in the U.K. and licensed by the Financial Conduct Authority (FCA).

The company offers access to a comprehensive product line, including forex, stock indexes, equities, commodities, cryptocurrencies, ETFs, and options. Plus500 is the first broker to introduce a Bitcoin CFD in 2020. The company does not charge commissions on any of its trades. All costs are contained within the spread for each of more than 2,000 trading instruments offered on Plus500’s WebTrader platform. Plus500 Ltd (PLUS.L) is a publicly traded company on the AIM section of the London Stock Exchange since 2020 with a £1.73 billion ($2.25 billion) market capitalization and clients in more than 50 countries around the world.

Plus500 offers access to more than 2,000 trading instruments

Some of the lowest spreads and commissions in the industry are at Plus500

Bitcoin, Ethereum, and other cryptocurrencies are available

Sparse library of educational materials available

While customers can trade more than 2,000 instruments, there are few tools to use to analyze those instruments

Plus500’s WebTrader cannot be paired with other trading tools or platforms

Trust

While Plus500 does not provide additional deposit insurance, the company is registered with the Financial Conduct Authority (FCA), CySEC, ASIC, FSCA, FMA, MAS, and the ISA, which provides good accountability and visibility. The company is required to take steps to ensure client funds are not commingled with corporate funds—ensuring that client money and assets are protected in the unlikely event that Plus500 becomes insolvent—by holding those funds in segregated accounts at regulated banks. If Plus500 defaults, any shortfall of funds of up to £50,000 may be compensated for under the Financial Services Compensation Scheme (FSCS). If the custodian bank holding client funds goes into liquidation, any shortfall of funds of up to £85,000 may be compensated for under the FSCS.

Plus500 also offers negative balance protection, ensuring that clients cannot lose more than they have put into their account. Guaranteed stop losses can be used on some instruments depending on market conditions but they are subject to a wider spread.

Desktop Experience

Plus500’s WebTrader platform is a streamlined trading experience that is stable and easy to access from any browser. WebTrader has a simple and easy-to-use interface that lets you create watchlists, analyze charts, as well as place and monitor trades. The technical analysis charts can be expanded to fullscreen and offer more than 100 technical indicators that you can apply to many different time frames, from tick charts to weekly charts. Unlike many brokers, however, Plus500 does not offer a MetaTrader 4 (MT4) platform trading alternative which would provide more functionality and customizability.

WebTrader is simple and easy to use, and the layouts will feel familiar. Traders can choose from among more than 2,000 instruments, analyze their selection on a customizable technical analysis chart, and place their trade in just a few clicks, all within the same window. Unfortunately, WebTrader is a closed system. Advanced traders who rely on incorporating third-party analytical and automation tools in their trading process will be disappointed. None of these tools can be integrated directly with WebTrader.

Mobile Experience

The Plus500 mobile applications include all of the functionality available in the desktop application. Traders can access Plus500’s 2,000+ trading instruments, conditional orders, account details, and charting (complete with 100+ technical indicators) from the Android, iPhone, or iPad mobile apps. Plus500 offers security measures such as fingerprint unlock, among other things, to open the application.

The dynamic charts can be expanded to fullscreen to provide more clarity during the technical analysis process. Clients can also deposit and withdraw money from within the mobile app. However, some traders will be concerned about the lack of enhanced security measures, especially since these applications provide a direct line of access to funded accounts. It’s reasonable to have expected, at the very least, that the apps include some type of customizable, automatic sign-out. Clients are also unable to use the MT4 mobile application, which has greater functionality and may be a more familiar interface for experienced investors.

Research Tools and Insights

Plus500 has very little to offer when it comes to research, analysis, tools and commentary. The company provides little in-house research articles or videos and there are no news feeds. They do provide earnings calendars, which is a great feature. Plus500 customers intend to find this information elsewhere. Plus500 does provide customizable charts where traders can conduct technical analysis on any of the instruments under trading consideration. It also provides a simple “Traders’ Sentiment” indicator that shows traders what percentage of Plus500 clients are buying an instrument, like the EUR/USD currency pair, and what percentage are selling it.

Education

Many brokers provide courses, videos, e-books, quizzes, and more to help clients learn about the markets in which they are investing. Plus500 provides none of these services. The broker does provide one legally required “Key Information Document” (KID) that outlines the basics of what each available instrument is and the risks associated with trading it. The KID has summary information on commodities, cryptocurrencies, ETFs, forex, indexes, options, and equities. Plus500 expects its clients to know what they’re doing or, at the very least, to seek out educational material elsewhere.

Special Features

Plus500 doesn’t offer any of the special features we typically look for from a broker. It doesn’t allow for automated trading via expert advisors or other trading algorithms, it doesn’t provide back-testing functionality, nor does it allow clients to manage third-party funds via PAMM or MAM trading platforms. The company simply provides a streamlined WebTrader platform along with similar mobile trading apps for iPhone, iPad, and Android devices where clients can place and monitor trades.

The platform is clearly targeted to those who just need a mechanism for executing trades without a lot of advanced functionality. Guaranteed stops are available on some markets; however, they come with an increased spread and cannot be added to previously opened trades.

Investment Products

The company does not charge commissions on any of its trades. All costs are contained within the spread for each of more than 2,000 trading instruments offered on Plus500’s WebTrader platform. Large volume traders do not get a trading discount at Plus500 and the spread is the same whether you trade one lot or 1,000 lots. There are no charges for normal withdrawals or terminating an account. However, inactivity fees kick in after an account has been idle for three months. Beginning traders can open an account with as little as £100.

Traders can qualify for a “professional” account, which offers a higher level of maximum leverage, but the costs are the same. Investors with a professional account may increase their maximum leverage ten-fold, from 1:30 to 1:300. Plus500 also offers access to options trading on many markets. These are very similar to plain call and put options traded on exchanges, but they are not standardized, which means that the option premium can be customized for your risk tolerance and strategy objectives.

Commissions and Fees

Spreads at Plus500 were some of the lowest I have seen in the market. The tradeoff for new investors will be limited research and analysis tools and an inflexible trading platform. Other account charges were similarly minimal.

Customer Support

Plus500’s customer service options are limited; however, online chat and email support are available 24/7. A customer service telephone number is not available. Prospective and current clients must submit inquiries through live chat or an email ticketing system that is available 24/7. While the customer service options are limited, Investopedia received responses to each of the chats and emails submitted within a few minutes, which is a comparatively prompt response time. No in-person support is available.

The online chat is easy to use, but the initial responses to our requests felt like a chatbot. This isn’t necessarily a problem because the software is good at detecting commonly asked questions and linking to a resource in the FAQ or providing a short answer. Getting through to a human agent is relatively quick when needed. Even with these limitations, customer service responses to our requests were prompt, knowledgeable, and courteous. The FAQ section covers a wide variety of topics and has an excellent search engine.

What You Need to Know

Plus500 is best for the cost-conscious trader. This broker has very competitive spreads, which keeps costs low. However, extra features like auto-trading, MT4, and Expert Advisors are not available. Experienced investors who prefer to enter and exit their trades manually may find the functionality tradeoff worth the lower expenses.

Assuming you are trading with an account set up by the U.K. version of Plus500, the additional security of regulation by the Financial Conduct Authority is also a plus. Many investors are nervous about the lack of protection for accounts held with dealers in Cyprus or similar jurisdictions.

Additionally, Plus500 allows traders access to vanilla call and put options on many markets. These options work like the exchange-traded versions except that they are non-standardized. This means that the options from Plus500 can be customized and adjusted for your risk tolerance and strategy goals.

Compare Plus500

Plus500 is a perfect option for cost-conscious traders. See how they compare against other online brokers we reviewed.

Methodology

Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers. Our reviews are the result of six months of evaluating all aspects of an online broker’s platform, including the user experience, the quality of trade executions, the products available on their platforms, costs and fees, security, the mobile experience and customer service. We established a rating scale based on our criteria, collecting over 3,000 data points that we weighed into our star scoring system.

In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of their platforms at our offices.

Our team of industry experts, led by Theresa W. Carey, conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels. Click here to read our full methodology.

Plus500 Broker Review: Safe Or Scam? We Uncover The Pros & Cons

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Last Updated on March 24, 2020

Overview

Risk Warning: 76.4% of retail trader 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.

Plus500 is a leading global Contract for Difference (CFD) brokerage firm and online trading platform. CFDs are derivative instruments that allow customers to buy and sell financial instruments without actually holding them in their account. Plus500 offers CFD trading in a variety of financial markets including commodities, cryptocurrencies forex, stocks, ETFs and market indices. Its trading platform is known for its simple design and ease of use.

Plus500 has received awards and recognition from industry watchers for its excellent service. Plus500 also has one of the highest rated CFD apps on the App Store and Google Play.

We think the Plus500 trading platform is incredibly slick and one of the best on the market. Traders seeking a first-rate, professional online trading experience and access to a large number of CFDs in a variety of different asset classes should check out Plus500. Always remember that your capital is at risk and whilst Plus500 is a responsible broker and won’t allow you to lose more than your account balance, trading CFDs is for experienced traders.

This Plus500 review will cover all of the relevant details of the company and discuss the broker’s major advantages and disadvantages.

Why Choose Plus500?

Plus500 – Essential Information

What’s Good About Plus500? What Could Plus500 Do Better?
Plus500 www.plus500.com (76.4% of retail CFD accounts lose money)
Overview The World’s Trading Machine
Our Overall Rating
Broker Trust Rating 90/100
Founded 2008
Number of Customers 200,000+ worldwide
Product CFDs
Markets Commodities
Cryptocurrencies
Stocks
Indices
ETFs
Countries Served 50+ (Full list below)
Minimum Deposit Minimum deposit varies according to payment method and the country where you are based.
Fees Plus500 is a no-commission broker. Plus500 makes money through the market bid/ask spread (See below). Plus500 charge an inactivity fee of $10 and some overnight and premium fees may apply. See here for full list of fees.
Regulator(s) UK Financial Conduct Authority, Australian Securities and Investment Commission and The Cyprus Securities Exchange
Customer Support Email & Live Chat
Awards Plus500 is one of the highest rated CFD trading apps on Apple’s AppStore and Google Play
Demo Account Yes – a free demo account is offered and available even after opening a real account.

History of Plus500

Plus500 was founded in Israel in 2008 by six individuals who were alumni of the Technion Institute of Technology. One of the founders seeded the company with $400,000 of his own money. In 2020 the company raised $75 million through an IPO on the AIM market of the London Stock Exchange. By 2020 the company had a market cap of over $1 billion.

Plus500 is registered and located in Israel and has subsidiaries in the UK, Cyprus and Australia. Its subsidiaries are regulated as follows: Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909), Plus500CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14), 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. Please refer to the Disclosure documents available on the website.

Plus500 provides 24/7 email and live chat support in 15 languages. The firm also offers chat support in English 24/7 in most jurisdictions where it operates. In addition, traders can view the Plus500 website and mobile apps in 30 different languages. The company does not offer customer support by phone, which may be a problem if you lose your internet connection.

In June 2020, Plus500 started trading on the main London market as a constituent of the FTSE250.

Which Countries Does Plus500 Operate In?

Plus500 is available in 50+ countries and in more than 30 languages.

IMPORTANT: CFDs are not available in the USA due to local regulation, and this regulated CFD broker does not accept US citizens or US residents as clients.

  1. Andorra
  2. Argentina
  3. Australia
  4. Austria
  5. Bahrain
  6. Bulgaria
  7. Chile
  8. Costa Rica
  9. Croatia
  10. Cyprus
  11. Czech Republic
  12. Denmark
  13. Estonia
  14. Finland
  15. France
  16. Germany
  17. Gibraltar
  18. Greece
  19. Hungary
  20. Iceland
  21. Ireland
  22. Isle of Man
  23. Israel
  24. Italy
  25. Kuwait
  26. Latvia
  27. Liechtenstein
  28. Lithuania
  29. Luxembourg
  30. Malaysia
  31. Malta
  32. Mexico
  33. Monaco
  34. Netherlands
  35. New Zealand
  36. Norway
  37. Oman
  38. Poland
  39. Portugal
  40. Qatar
  41. Romania
  42. Saudi Arabia
  43. Slovakia
  44. Slovenia
  45. South Africa
  46. Spain
  47. Sweden
  48. Switzerland
  49. United Arab Emirates
  50. United Kingdom
  51. Uruguay
  1. English
  2. Arabic
  3. Bulgarian
  4. Croatian
  5. Czech
  6. Danish
  7. Dutch
  8. Estonian
  9. Finnish
  10. French
  11. German
  12. Greek
  13. Hebrew
  14. Hungarian
  15. Icelandic
  16. Indonesian
  17. Italian
  18. Japanese
  19. Korean
  20. Latvian
  21. Lithuanian
  22. Malay
  23. Maltese
  24. Norwegian
  25. Polish
  26. Portuguese
  27. Romanian
  28. Russian
  29. Serbian
  30. Simplified Chinese
  31. Slovak
  32. Slovenian
  33. Spanish
  34. Swedish
  35. Traditional Chinese
  36. Turkish

It is worth remembering that although the trading platform is available in over 30 languages, customer support is actually only offered in Arabic, Dutch, English, French, German, Hebrew, Italian, Polish and Spanish.

Can I Trust Plus500?

Plus500 lists on the London Stock Exchange

Yes, Plus500 is a trustworthy, publicly traded company regulated in multiple jurisdictions.

Plus500 is a safe and secure way to trade CFDs. Plus500 subsidiaries are individually regulated by the following agencies; Financial Conduct Authority (FCA), Cyprus Securities Exchange (CySEC), Australian Securities and Investments Commission (ASIC).

See the table below for exactly which regulator covers you in your country and what protection is offered.

Regulator Countries Covered Protection Offered Additional Protection Offered
Financial Conduct Authority (FCA) UK, Ireland and Germany All client funds are held in a segregated client bank account Clients of Plus500UK Ltd would fall under the ‘investments’ claim category, whereby the cover is £85,000 per person per firm.
Cyprus Securities Exchange (CySEC) Andorra, Argentina, Austria, Bahrain, Belgium, Bulgaria, Chile, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Gibraltar, Greece, Hungary, Iceland, Isle of Man, Israel, Italy, Kuwait, Latvia, Liechenstein, Lithuania, Luxembourg, Malaysia, Malta, Mexico, Monaco, The Netherlands, Norway, Oman, Poland, Portugal, Qatar, Romania, Saudi Arabia, Slovakia, Slovenia, Spain, South Africa, Sweden, Switzerland, United Arab Emirates and Uruguay. All client funds are held in a segregated client bank account
Australian Securities & Investments Commission (ASIC) Australia, New Zealand and South Africa All client funds are held in a segregated client bank account

76.4% of retail CFD accounts lose money.

Financial Conduct Authority (FCA)

The UK’s Financial Conduct Agency regulates Plus500’s activities in the UK, but through the FCA’s “passport out” system ( which enables an authorised firm to provide financial products or services, set up a base, or run its permitted activities in another country in the

” data-original-title=””>European Economic Area (EEA)) the FCA also covers their activities in Ireland and Germany.

The fact that Plus500 is regulated by the FCA is a huge positive. The FCA and the UK is widely respected as a leader in financial regulation and in fact the UK scores highly in Transparency International‘s rankings of countries based on their corruption perceptions index meaning the UK is a pillar of anti-corruption.

Plus500 customers in the countries listed above are protected by the UK based scheme Financial Services Compensation Scheme (FSCS) which was established to protect consumers when authorised financial services firms fail. In short, it steps in and pays compensation up to certain levels if a regulated firm is unable to pay. Up to £50k of funds deposited into Plus500 are protected by the FSCS if you are in one of countries that fall under the FCA jurisdiction.

For more information, Plus500’s Financial Services Register reference number is FRN 509909.

Cyprus Securities Exchange (CySEC)

The Cyprus Securities and Exchange Commission is the financial regulatory agency of Cyprus. Cyprus is a European Union member and is a financial services industry hub. The country ranks well in the Transparency International league table of countries based on their corruption perception index.

This is reassuring if you’re in a country where your Plus500 activities are regulated by CySEC, although obviously it is worth remembering that the level of compensation available (up to €30,000 if Plus500 fails) is less than if you are in a country that falls under the jurisdiction of the FCA.

Australian Securities and Investments Commission (ASIC)

The Australian Securities and Investments Commission or ASIC covers Plus500’s activities in Australia, New Zealand and South Africa.

ASIC’s oversight of Plus500 means that client money is held in a trust and completely separate from Plus500’s own money. Unlike other jurisdictions however, if you are based in Australia or South Africa, there is no additional compensation scheme in place to cover your deposit.

That doesn’t mean it isn’t safe to deposit with Plus500 if you’re in Australia or South Africa it just means you are offered only the legal protection afforded by the Australian legal system. That being said, money held in trust in Australia is highly regulated covered by the Corporations Act, and given Plus500’s failure seems unlikely anyway we still feel happy recommending Plus500 in these countries.

Inside the Plus500 Offices

Plus500 Office Reception. Plus500 Careers

Plus500 team members chatting in common area. Plus500 Careers

Some of the Plus500 team. Plus500 Careers

Who Runs Plus500?

The Plus500 board currently consists of 7 directors. We have listed the main management team and their responsibilities below:

www.plus500.com 76.4% of retail CFD accounts lose money.
Mr. Elimelech holds a B.A. in Accounting and Economics from Haifa University and is a certified accountant in Israel.
Mr. Haber holds a B.Sc. in Computer Science from the Technion, Israel. Before founding Plus500, Mr. Haber served as chief operating officer of InterLogic Ltd, a ‘skilled games’ programme provider for the internet, and mobile devices, which he co-founded in 2004.
Mr. Even-Chen holds a B.A. in Accounting and Economics from Tel-Aviv University, an LL.B Degree from the College of Management and an MBA (specialising in Financial Management) from Tel-Aviv University.
Ms. Judd is a chartered accountant with over 30 years of experience in Compliance, Regulation, Corporate Finance and Audit.

Asaf Elimelech signs shirt sponsorship deal. EFE/ Rodrigo Jiménez

Plus500 Trading Products

Plus500 offers customers access to trading seven categories of financial instruments through the use of CFDs: indices, commodities, forex, cryptocurrencies shares, options and ETFs:

1) Indices

Trade the most popular Indices around the world like USA 500, NASDAQ 100 and France 40 with leverage.

2) Commodities

  1. Oil
  2. Gold
  3. Natural Gas
  4. Silver
  5. Cocoa
  6. Coffee
  7. Sugar

3) Forex

Plus500 cover all the major currency pairs including EUR/USD, GBP/USD and EUR/GBP.

4) Cryptocurrencies

  1. Bitcoin
  2. Bitcoin Cash
  3. Ethereum
  4. NEO
  5. Monero
  6. Ripple
  7. Litecoin
  8. IOTA

5) Shares

Trade CFDs of popular shares from the UK, USA, Germany and more.

6) Options

Plus500 offers options contracts on the following stocks and indices:

  1. Germany 30
  2. France 40
  3. UK 100
  4. Netherlands 25
  5. USA 500
  6. Italy 40
  7. Alphabet
  8. Facebook
  9. Apple
  10. Hong Kong 50
  11. Deutsche Bank
  12. Snap
  13. Europe 50

7) ETFs

Plus500 offers contracts on the following ETFs:

Symbol Name
SLV iShares Silver
USO USO-Oil Fund
UNG UNG-Gas Fund
OIH OIH-Oil Service
GLD GLD Gold
DBC Commodity Index Fund
GOLD.AX ETFS Gold
VXX VXX Volatility (ETF)
QQQ QQQ
ISF-L iShares UK 100
SPY SPY
DVY DVY
IAEX.AS iShares AEX
FAS FAS
EWJ iShares Japan
ACWI ACWI
EWY iShares Korea
SDS SDS
GDX GDX
EWZ EWZ
EFA EFA
IWM iShares R2000
IWO IWO
XLI XLI
IWF IWF
VTI VTI
XLK XLK
XHB XHB
XLV XLV
IYR IYR
EXW1.DE iShares EU50
DIA DIA
EEM iShares EEM
FAZ FAZ
SPXU SPXU
EDC EDC
IJR IJR
IWN IWN
EXS1.DE iShares DAX
AGQ AGQ
ERX ERX
QID QID
FEZ SPDR EURO 50
QLD QLD
TLT TLT
XME XME
XLP XLP
EWT EWT
EWH EWH
RSX RSX
TNA TNA
SPXL SPXL
XLU XLU
XLF XLF
UPRO UPRO
CAC.PA Lyxor CAC
BND BND
EWW EWW
VNQ VNQ
FXI iShares China
HYG HYG
TBT TBT
VWO VWO
FXE FXE
VGK VGK
SSO SSO
MDY MDY
STW.AX SPDR S&P/ASX 200
XLB XLB
XLY XLY
SH SH
TZA TZA
XRT XRT
XLE XLE
TWM TWM
XOP XOP
SFY.AX SPDR S&P/ASX 50
LQD LQD
JNK JNK
IAU IAU

Plus500 Account Types

Plus500 aims to keep things simple and, therefore, only offers two types of trading accounts – a standard live trading account and a demo account. Opening an account is simple and straightforward. The signup page asks traders to choose between the live and the demo account. After making this selection, traders are taken to the registration page where they fill in some basic information and click the “Create Account” button.

Illustrative prices only. (76.4% of retail CFD accounts lose money).

It is worth remembering though that once you have an account, you will need to complete the Plus500 verification process (described in detail below) before you can place your first real trade.

There is no time limit for using the demo account. Traders in demo mode can easily toggle between the real account and demo account by clicking on the desired account in the main screen menu.

What is a Gold Account?

Plus500 has enhanced and upgraded its systems. As a result, Plus500 has upgraded most trading accounts to “Gold accounts.” These accounts have different units of trade size and a 5% discount on all overnight funding charges. Each instrument has a different unit of trade size. Traders can choose the ones that best fit their trading goals.

Plus500 Pro Account

Plus500 now offers a Professional Client Account (Pro Account) to traders who meet certain criteria. This special premium account offers the following features:

  • Higher leverage amounts on some instruments
  • The same client money protection advantages offered with a Retail Account
  • The same negative balance protection offered with a Retail Account
  • Traders can revert back to a Retail Account at any time

Traders who opt for a Pro Account lose access to the Financial Ombudsman Service (FOS). The FOS is an independent organization that was established to resolve disputes between financial institutions and their customers.

Traders must request consideration from Plus500 for a Pro Account. Plus500 will then assess your expertise, knowledge of financial markets and experience to determine if the account is right for you. In addition, Plus500 must establish that you are capable of making your own investment decisions and understand the risks involved in those decisions.

In order to be granted a Pro Account, traders must meet at least two (2) of the following criteria:

  1. Sufficient Trading Activity: Traders must have executed an average of 10 transactions per quarter (of significant size) over the previous four quarters with Plus500 or another CFD broker.
  2. Portfolio Size: Traders must have a financial instrument portfolio of at least €500,000. This includes both cash deposits and financial instruments.
  3. Relevant Work Experience: Traders must have worked in the financial sector for at least one year in a position which requires knowledge of the related products and services (e.g., OTC derivatives such as leveraged CFDs, forex or spread betting).

Plus500 Spreads and Fees

The relevant underlying financial instruments determine the Plus500 spreads offered to traders. Plus500 obtains the data from reputable third-party sources, which obtain the data directly from exchange feeds.

Plus500 receives its compensation through the market bid/ask spread. In addition to this spread (detailed below), customers may, however, incur the following Plus 500 fees:

Overnight Funding: This overnight Plus500 fee (or credit) is either added to or subtracted from a trader’s account when a position remains open past a certain period of time.

Inactivity Fee: Plus 500 charges traders a $10 inactivity fee if they don’t use the platform for a period of three months. This Plus500 fee only applies to real money accounts and only if the trader has sufficient funds in the account. Traders simply need to log in to their accounts periodically to avoid these fees.

Guaranteed Stop Order: Traders who want to guarantee that their position closes at a specified price may pay wider Plus500 spreads to execute these trades.

Traders pay the spreads on trades. The spreads are shown as a percentage of the underlying instrument’s price and vary according to liquidity, volatility and other factors. The following are recent Plus500 spreads for indices, forex, commodities, cryptocurrencies, shares and ETFs but it’s important to note that these are variable . Options strikes available for trading vary with the price of the underlying asset and time, so traders should consult the Plus500 website for those spreads.

Account Requirements

Plus500 serves 50 countries worldwide. The process of opening an account is largely the same in each jurisdiction. Before you can trade with Plus500 for the first time, you need to pass an identity and residential address verification as well as verifying the source of the funds. Don’t worry, the process is quite simple and we’ve found Plus500 to verify files quickly so there isn’t typically a long delay between signing up and being able to trade.

To pass their identity verification, you will need a Government issued form of identification e.g. a passport which contains the following:

  1. Photo
  2. Identity number
  3. Full name
  4. Date of birth
  5. Date of expiry

To pass their residential address verification, you will need to provide one of the following:

  1. Bank statement
  2. Credit card statement
  3. Electricity bill
  4. Water or gas bill
  5. Council tax bill
  6. Tax letter
  7. Phone bill
  8. Television services bill
  9. Internet bill

To verify the source of your funds i.e. to prove you are the legitimate owner of those funds, you may need to provide a scan of one of the following:

  • The front of your debit/credit card
  • A bank/credit card statement.

Traders can make deposits and withdrawals by major credit cards such as Visa or MasterCard, bank wire transfer, PayPal or Skrill. Deposits by wire transfer may take up to five days for funds availability, while deposits through Visa and MasterCard are the fastest.

Depositing money in an account is fast and simple. Traders click on the Funds Management tab on the main screen and select “Deposit.” Traders then select the deposit method of their choice, fill in the required information and click “Submit.” The minimum amount required to make a deposit starts at $100 but depends on where you are based and the method of funding.

Plus500 offers different amounts of leverage depending on the CFD product and the type of account being used (retail or professional).

Each CFD also has specific Plus500 margin requirements that traders must maintain. Traders who fall below the Plus500 margin requirements will have their positions closed with no option to keep their positions open.

Plus500 Withdrawal

All account withdrawal requests are subject to a minimum withdrawal amount. The minimum withdrawal amount for PayPal and Skrill is $50USD (or equivalent in your currency).

The minimum withdrawal amount for bank transfers and credit cards is $100USD (or equivalent in your currency). All withdrawal requests are processed by Plus500 within 1-3 business days.

Withdrawl Limitations

All withdrawal methods have minimum amount thresholds, which can be found on the withdrawal screen on the trading platform.
Plus500’s stated policy, wherever possible, is to only return funds to the same payment method from which they originated.

Withdrawal Times

Listed below are the withdrawal methods Plus500 offers. Please note that some of the methods may not be available in your country:

Electronic wallets – PayPal or Skrill. Funds should be received in your e-wallet account in 3-7 business days after withdrawal has been authorized.
Bank transfer – direct bank to bank funds transfer. Funds should be received in your bank account within 5 business days from the authorization of the withdrawal. Withdrawals to a bank account may be subject to further delays sometimes depending on the banking institution and the jurisdiction in question.
Debit/Credit cards – funds should be received according to each issuer or bank’s refund processing time.

Plus500 WebTrader Review

The Plus500 platform is a well-designed platform with excellent features for a variety of traders. The platform seems particularly well-suited to traders who want to navigate quickly between many different trading instruments. In fact, the platform’s main screen gives traders access to hundreds of different instruments without the need to pull up additional windows.

The main screen gives traders access to trade execution, pricing information, charting, positions and fund and balance information. The main screen is organized with a logical and intuitive structure:

Example Trade

For illustrative purposes only – not a recommendation.

For illustrative purposes only

Trade: On the very left side of the screen is the trade tab. Traders can click on each category and get a drop-down menu of items to trade. These drop-down folders contain all of the products on the platform and eliminate the need for traders to use a search engine or navigate to another page to find trading instruments. Traders can also set up a “favorites” or “most popular” section so they can quickly locate instruments to trade.

Clicking on an instrument creates the trade ticket shown above. The ticket offers a litany of sophisticated options for more advanced traders. Traders can choose the size of the trade and can add provisions to lock in profits or stop losses. Plus500 traders can also add trailing stops to orders and calculate leverage used and margin required for trades. The ticket is one of the features of the Plus500 platform that sophisticated traders will find very appealing.

Instruments Section: The top part of the screen allows the trader to populate a window with instruments they want to track or frequently trade. This section has a lot of attractive features that should appeal to active traders. The big buy and sell buttons next to each market allow for quick execution.

More importantly, however, this section integrates the trader’s existing positions into the list. For example, a trader can see his open positions and P&Ls. Plus500 traders can click “Close Position” to send a closing order. Unlike many trading systems that separate open positions from watch lists, this integrating feature is a nice time saver and an easy way to track open positions alongside other securities.

For illustrative purposes only

Open and Closed Positions: Traders can navigate to these tabs to keep track of their trading activity. The Plus500 platform allows the trader to search for activity by dates. In the closed position tab, traders can see reasons positions were closed, time of opening and closing, and P&L.

Example Trade

Illustrative purposes only – not a recommendation.

For illustrative purposes only

Charts: The charting functions offered by Plus500 are the most limiting and disappointing features of the platform:

For illustrative purposes only

The charts appear in the main window of the trading platform and graphically represent price movements for trading instruments. The platform allows traders to apply various technical indicators to the charts. However, the number of indicators and time frames that Plus500 offers pales in comparison to other more sophisticated trading platforms such as MetaTrader4. Traders have access to only about a dozen time frames and indicators.

The Plus500 platform does not support integration with MetaTrader4 or with any type of algorithmic trading. Also, traders can only pull up one chart at a time, which is a seriously limiting factor for active traders who want to compare multiple instruments or the same instrument using different charting tools. In sum, the chart function may be useful for traders who want a general idea of price movements in a financial instrument, but would likely be disappointing to sophisticated traders who need robust charting capabilities.

Funds: The bottom section of the Plus500 main trading screen shows available funds, equity and profits (or losses) for the account. The best part of this section is the ease with which traders can navigate to the deposit page to add funds to the account. Also, traders can toggle between their real money and their demo account easily, which allows them to test out practice ideas and, if successful, quickly implement them with live trades.

Plus500 Demo Account

Plus500 really stands apart from other brokers when it comes to their free demo account, even after you open your real account you can continue to use your demo account to test trading ideas you might have in future. Many other brokers will charge you for a demo account after an initial free period.

Plus500 doesn’t offer any educational courses, videos or market commentary on its website, which may be a problem for inexperienced traders. However, Plus500 offers traders a demo account where they can test ideas with virtual funds. The demo account is permanent, so traders have access to it even after trading in their real account. In fact, traders can easily and seamlessly switch back and forth between the demo and real money account.

When traders first sign up for an account, they see the following screen:

A trader can create an account in the demo mode and then see the same layout that a real money trader sees.

The demo account has all of the securities available to real money traders. A nice feature of this account is that traders can easily switch to real money trading by clicking the blue button at the bottom of the screen. Also, Plus500 replenishes funds in the demo account when traders fall below certain levels.

Plus500 App

In addition to accessing Web Trader via a PC, traders have several other ways to access the Plus500 trading platform:

iPhone/iPad/Apple Watch App:

  • The app is available from the Apple app store and requires iOS 8.0 or later
  • Compatible with iPhone, iPad and iPod touch
  • Languages supported are English, Arabic, Bulgarian, Croatian, Czech, Danish, Dutch, Estonian, Finnish, French, German, Greek, Hebrew, Hungarian, Icelandic, Indonesian, Italian, Japanese, Korean, Latvian, Lithuanian, Malay, Maltese, Norwegian, Polish, Portuguese, Romanian, Russian, Serbian, Simplified Chinese, Slovak, Slovenian, Spanish, Swedish, Traditional Chinese and Turkish

Android App:

  • The app is available from Google Play
  • Multi-language 24/7 professional support

Windows Phone App:

  • The app is available from the Microsoft store
  • Multi-language support
  • Minimum operating system requirements: Windows 10, Windows 8.1, Windows 10 Mobile, Windows Phone 8.1
  • Architecture: ARM, x86, x64

Plus500 Review and Tutorial 2020

A trader with a Plus500 account can trade CFDs on underlying financial instruments such as Forex, Stocks, Commodities, Cryptocurrency, Options and Indices. With tight spreads and no commission, they are a leading global brand.


Traders in Russia welcome
Plus500 Facts & Figures
Awards
• Best Overall Broker 2020 – DayTrading.com
• Best Overall Broker 2020 – DayTrading.com
• Best Trading App 2020 – DayTrading.com

Plus500 Offer forex trading via CFDs with tight variable spreads and a range of well over 70 currency pairs. Free Unlimited Demo Account.

Plus500 accounts can trade CFDs on a range of cryptocurrencies 24/7, with competitive spreads (Just 1% for BTC). Leverage of 1:2 is also available.

Instruments CFD, Forex, Crypto, Stocks, Options
Demo Account Yes
Min. Deposit $100
Min. Trade Varies by asset
Regulated By FCA, CySec, ASIC
MT4 Integration No
Mobile Apps iOS, Android and Windows
Auto Trading No
Trade Signals No
Islamic Account No
CFD
FTSE Spread Variable
GBPUSD Spread Variable
Oil Spread Variable
Stocks Spread Variable
Forex
GBPUSD Spread Variable
EURUSD Spread Variable
EURGBP Spread Variable
Assets 70+
Cryptocurrency
Spread BTC 1%, ETH 1.6%
Coins BCH, BTC, ETH, LTC, XRP, IOTA, NEO, EOS, XMR

Our Plus500 review includes everything from the Webtrader online trading platform, to the mobile app and fees. Whether you are looking to login and trade Bitcoin, ripple or Oil, or you just need details on the demo account and minimum deposit, we cover everything in this detailed review.

Plus500 is a leading online Contract for Difference (CFDs) trading platform that is owned by a holding company called Plus500 Ltd. The company is listed on the Main Market of the London Stock Exchange (LON:PLUS). Operating through 3 different subsidiaries:

  • Plus500UK Ltd,
  • Plus500CY Ltd
  • Plus500AU Pty Ltd.

Making the brand synonymous with reliability and safety.

This is largely due to the fact that Plus500 (or subsidiaries) are regulated in several different jurisdictions around the world. In addition to being regulated around the world, Plus500 is also an active sponsor of professional Soccer and Rugby teams. The firm have been the official sponsor of Club Atletico de Madrid since 2020.

Traders can earn a first deposit bonus on their initial deposit, up to a maximum of $10,000. Additional leverage of up to 1:300 is also available.

Regulation & Reputation

Since its inception in 2008, Plus500 has earned a reputation among traders in the online community as being reliable and trusted. Plus500 Ltd is listed on the Main Market of the London Stock Exchange, which also helps to bolster the broker’s reputation as being financially stable. In terms of regulatory oversight, Plus500 subsidiaries are regulated by several regulatory agencies:

  • Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).
  • Plus500CY Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).
  • Plus500AU Pty Ltd, ACN 153 301 681, AFSL # 417727, issued by the Australian Securities and Investments Commission is authorised to issue these products to Australian residents.
  • Derivatives issuer licence in New Zealand, FSP #. 486026 authorises them to issue these products to New Zealand residents.
  • Plus500AU Pty Ltd, is also an authorised Financial Services Provider in South Africa, FSP 47546.

With subsidiaries as regulated entities under the UK’s FCA, ASIC in Australia and CySEC, Plus500 is able to work with traders from Australia, Europe and the UK. Clients can therefore take advantage of the benefits of being protected under the Financial Services Compensation Scheme (FSCS) and Investors Compensation Scheme. For full details of the protection these schemes offer, visit the website.

Trading Platforms

Although Plus500 uses a proprietary trading platform, the trading platform (Webtrader) is able to cater to the different needs of the broker’s international clientele base, as it is available across several different versions.

There is a desktop version of the trading platform which traders can download and install onto their computers. Retail and professional accounts operate on the same platform. This creates pros and cons but with advanced research tools next to the ability to execute trades in a user friendly way the platform performs well.

For those who wish to trade directly from the internet, there is a web-based version of the trading platform which can be accessed with any web browser. There is no integration with MT4 at present.

The key difference between the Webtrader trading platform and the platforms provided by other brokers in the industry is the fact that Plus500 trading platforms work seamlessly with each other.

Mobile Trading

A mobile version of the trading platform is also available to traders who wish to trade the markets using just their smartphones or mobile devices. Provided free of charge, the mobile trading app can be downloaded directly from Google Playstore or Apple App Store.

The mobile app is fully functioning, and offers all the trading options that the web based version does. It is a single click download, and trading via the app is quick and easy. Look and feel between mobile and web based platforms is kept the same, making transition between the two very easy.

Both Android and iOS versions retain all the same low trading fees, spreads and rates etc, and any trading portfolio is retained across all platforms.

Trading Accounts

Plus500 has only provided one type of trading account, a standard trading account. The standard trading account requires a minimum deposit of $100 to open. During the recent system upgrade, the broker has upgraded all their clients’ trading accounts to a Gold account status.

With this recent enhancement, existing account holders will pay lower premium fees. However they will be subjected to a higher minimum trade volume.

Apart from the standard trading account, Plus500 has also provided a free unlimited demo account which potential clients can use to test out the performance of the trading platform and develop a trading strategy.

Compatible Trading App Platforms At Plus500

Although there is only one trading account, there is provision for traders to be classed as “professional” rather than “retail” clients. The benefits are increased leverage (1:300) and fewer restrictions on margin.

The downside however, is that regulatory protection is reduced for ‘Pro’ accounts (negative balance protection for example). Visit the website to apply, or see if you will be eligible for a professional account.

Bonus Offers & Promos

The terms of these bonuses include a requirement to accumulate “TPoints”. These are earned as you trade and once a certain amount have been collected, the awarded bonus can be withdrawn as cash. Assets and investments vary in terms of how many TPoints they accrue, full T&Cs are on the relevant bonus page for your region.

Assets & Instruments

Traders will be pleased to know that there are more than 2000 instruments to choose from using CFDs. These underlying assets include major classes such as currency pairs, cryptocurrencies, commodities, ETFs, options and stocks. Available leverage is as high as 1:300.

Cryptocurrency leverage is capped at 1:2 by the regulator, but assets like Bitcoin, Ripple and Litecoin are all available to trade with tight spreads.

Customer Support

While the support service at Plus500 is available 24/7, it is only available through email or live chat. So although their website is available in 32 different languages, there is no telephone support.

Deposit And Withdrawal

Available payment and withdrawal methods at Plus500 are Credit/Debit Card (Visa or MasterCard), PayPal, Skrill (Moneybookers), or Bank Transfer.

The same methods can be used for making deposits and withdrawals. For withdrawals, the processing time is 3 business days. It should be noted that all withdrawal methods have a minimum amount threshold and you can only withdraw through the method that you used initially for making your deposit.

There are no withdrawal fees, though there are inactivity fees and some positions may be subject to overnight fees.

Is Plus500 Best For Day Trading?

Without a doubt, Plus500 operates with a high standard of efficiency and reliability. Their digital Webtrader trading platform, is proprietary and able to perform the job of executing trades quickly. In addition, there is a wide range of assets for you to choose from to trade with.

As a day trader, it is important that you can execute as many trades as needed within a short time frame. With the huge asset index, you will be able to do just that, without difficulties. In addition, the fact that you can open and close a CFD position at any time during trading hours, means you can review and amend your positions and investing portfolio however you need to.

Plus500 vs eToro

Plus500 versus eToro – Key Features
Broker Minimum Deposit Regulator MT4
Plus500 $100 FCA, CySec, ASIC No
eToro $200 FCA Yes

Plus500 compares well to eToro, with a larger range of markets and far more research and analysis tools. eToro tends to cater to more casual traders – perhaps who’s time is limited. Copy Trading is their big feature – but they do offer fractionally smaller spreads (trading costs). Plus500 however, delivers a superior service for more involved traders, and also has a lower minimum deposit and more advanced trading platform.

Plus500 vs eToro – Spreads and Trading Costs
Broker FTSE Oil EUR/USD
Plus500 Dynamic Dynamic Dynamic
eToro 1 pt (var) 5 pts 3 pips (var)

Awards

What is the minimum deposit requirement to open a trading account?

The minimum deposit requirement is $100.

How fast can my withdrawal request be processed?

The typical processing time for a withdrawal request ranges from one business day to three business days.

Is Plus500 a reliable broker?

Yes. They have been operational since 2008 and subsidiaries are regulated in several countries around the world including the UK, Singapore and Australia.

What kind of trading platform does Plus500 have?

The company uses a proprietary trading platform to provide their traders with access to the financial markets.

What is the maximum leverage available at Plus500?

The maximum leverage offered by Plus500 is 1:30 as per regulatory guidelines. Leverage varies by asset (crypto trades are limited to 1:2). Traders in Non-EU regulated markets can utilise higher levels of margin. 1:30 is a limit imposed by ESMA in European Economic Area only.

Plus500 vs Etoro

Plus500 has tighter spreads for most assets than eToro, and also has a broader range. Social trading is not available, though it is at eToro. Plus500 also has higher levels of regulation and is a much more widely recognised and ‘global’ firm.

Share Price

Plus500 are listed on the London Stock Exchange (LON:PLUS).

Accepted Countries

Plus500 accepts traders from Australia, United Kingdom, South Africa, Singapore, Hong Kong, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use Plus500 from Belgium, Iran, United States, Canada, Zimbabwe, Nigeria, Cote D’Ivoire, Cameroon, Thailand, India, Indonesia, Brazil, Egypt, Pakistan, France, Cayman Islands, Philippines.

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