Plus500 Review
4.7
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Plus500 prides itself on offering an intuitive and user-friendly trading platform. The interface is designed to cater to traders of varying experience levels, ensuring that even those new to trading can confidently navigate and execute trades.
One of the standout features of Plus500 is the extensive selection of tradable instruments it offers. From forex and stocks to indices, commodities, cryptocurrencies, and more, the broker provides a diverse array of options that enable traders to diversify their portfolios and seize diverse market opportunities.
The broker's mobile trading app extends the trading experience beyond traditional desktop platforms. The mobile app's user-friendly design provides traders the flexibility to monitor and manage their trades on the go.
Plus500 integrates risk management tools into its platform to empower traders with tools to manage their risk exposure. Features like Stop Loss and Take Profit orders allow traders to set automatic limits, helping them adhere to their risk tolerance and profit goals.
While Plus500 have numerous advantages, it's essential to be aware of certain aspects. The broker primarily focuses on Contracts for Difference (CFDs), meaning traders do not own the underlying assets. Additionally, the absence of certain features like MetaTrader integration might be a consideration for traders accustomed to those tools.
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Listing on a Stock Exchange
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Withdrawals at No Charge
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Rapid and Completely Digital Account Opening
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Availability of Financial Information to the Public
Overview
Year founded
Minimum deposit
Withdrawal fee amount
Available Offerings
Platforms available
2008
100$
0$
Forex, CFD, Crypto, Futures
Mobile, Web
Account Opening
Plus500 ensures a streamlined and expedient account opening process, fully digital. With equally swift verification process. Plus500 minimum deposit of $100 is required if you opt for debit/credit cards and electronic wallets. However, for those preferring bank transfers, the minimum deposit stands at $500. Plus500 takes a step further by offering a demo account that can be tailored to your needs. Balances within the demo account can be customized between $200 and $40,000, or an equivalent sum in your preferred currency. What's noteworthy is that you have the freedom to switch between your demo and live accounts whenever you wish. Plus500 offers a duo of account types to cater to various traders' needs. The Retail account is accessible to most clients, while the Professional account is an option if you meet specific criteria. You must satisfy two of the following three conditions: demonstrate sufficient trading activity within the last 12 months, possess a financial instrument portfolio exceeding €500,000, and showcase relevant experience within the financial services sector. Initiating the process of opening a Plus500 account is both rapid and fully digital. The application process, takes from 10 to 15 minutes, followed by swift verification process. Opening a Plus500 account is done in three straightforward steps: 1.Account Details: Entering crucial information such as your email address, chosen password, and other pertinent personal particulars. 2.Verification Documents: Proceed to verify your identity by confirming your date of birth, name, and address. Subsequently, upload the necessary identification documents, which include your ID, passport, and a bank statement or utility bill. 3.Platform Selection: As a final step, you'll be prompted to choose your preferred trading platform, wrapping up the account setup process.
Safety
Plus500 operates under the regulation of multiple esteemed financial authorities and maintains a listing on the London Stock Exchange. It's noteworthy, however, that Plus500 does not hold a banking license. Plus500 adheres to the oversight of a diverse array of financial regulatory bodies, encompassing the Financial Markets Authority (FMA) of New Zealand, the Cyprus Securities and Exchange Commission (CySEC), the Israel Securities Authority (ISA), the Dubai Financial Services Authority (DFSA), the UK's Financial Conduct Authority (FCA), the Monetary Authority of Singapore (MAS), the Seychelles Financial Services Authority (FSA), the Australian Securities and Investments Commission (ASIC), and the Financial Sector Conduct Authority (FSCA) of South Africa. It is important to underline that not all clients benefit from investor protection. While European Economic Area (EEA) countries, which include the EU, Switzerland, and Norway, enjoy investor protection of up to €20,000, as authorized and regulated by the Cyprus Securities and Exchange Commission, the UK offers investor protection of up to £85,000, as authorized and regulated by the Financial Conduct Authority. On the other hand, clients falling under different regulatory jurisdictions do not partake in investor protection provisions. Established in 2008, Plus500 is headquartered in United Kingdom.
Risk Disclaimer
Trading securities carries a significant level of risk. When it comes to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is substantial exposure to various risks. These risks include, but are not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility. They can have a significant impact on the price or liquidity of a currency or related instrument. It is important to note that the methods, techniques, or indicators provided in these products may not necessarily yield profits, and there is a possibility of incurring losses. For more information on the risks associated with forex trading, please refer to further resources.
Summary
Plus500 is characterized by its user-friendly interface, ensuring a seamless user experience, particularly for those new to trading. The account opening procedure is notably efficient.
Plus500 holds a listing on the esteemed London Stock Exchange and operates under the oversight of multiple top-tier financial authorities.
However, Plus500's research tools is limited, and the fees associated with CFD trading fall within the average range. It's important to recognize that not all clients are afforded investor protection.