{[{item.pair.split("_")[0]}]}

${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 4})}]}

{[{item.change24}]}% Vol {[{ item.volume.toLocaleString(undefined, {maximumFractionDigits: 2}) }]} USDT

+{[{item.change24}]}% Vol {[{ item.volume.toLocaleString(undefined, {maximumFractionDigits: 2}) }]} USDT

Interactivecrypto does not accept users from your country (Israel)

BROKER REVIEW

PLUS500

interactive-logo-black
broker-logo

June 13, 2020 | 

JOHN K MWANIKI |  0 Comments | 

11311 Views

PLUS500 BROKER REVIEW

Our Pick

Mimimum Deposit

$100

Crypto

currency
currency
currency
currency
currency

Regulation

country
country
country
country

Our Score

8

 Risk warning: 80.5% 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.

As one of the first trading platforms to introduce Bitcoin assets in 2013, Plus500 has continued to be one of the most vibrant trading platforms globally. Like any other trading platform, a trader needs all the information about the tool before adopting it.

Read through the article for everything there is to know about Plus500. It has background information about the platform, licenses and regulation, trading platforms, and several more.

Background

Started in 2008 in Israel, Plus500 is a leading global CFD broker/provider. It is listed on the London Stock Exchange and highly regulated with some of the strictest world regularity bodies that make it quite safe.

Even though it provides for unlimited CFD trading options, it is a little limited on the cryptocurrency.  It is a great trading broker for long term holders.

Commissions and Fees

Plus500 is one of the most affordable trading platforms, given lower trading. Its primary source of revenue is spread charged on assets of over 2000. The spread is an average of 0.6 pips on the EUR/USD. The spreads are subject to change depending on the assets that mean dealing in multiple assets calls for thorough scrutiny.

plus 500

Illustrative prices

The site provides for swap rates on overnight leverages lower compared to the other trading platforms. Traders also incur 0.3% conversion fees and $10 inactivity fees for accounts dormant for more than three months.

While the charges are generally low, it means a foregoing some educational and research tools.

Feature

Plus500

Average spread

0.6 pips

Conversion fees

0.3%

Commission

Unavailable

Inactivity fees

$10

Active trade discounts

Unavailable

Regulations

Plus500 is one of the most regulated financial entities. The trading site listed on the London Stock Exchange takes pride in being one of the most financially stable entities. Plus500UK Ltd is authorized & regulated by the FCA (#509909). All client money is held in segregated client bank accounts in accordance with the Financial Conduct Authority's client money rules. Clients of Plus500UK Ltd would fall under the ‘investments’ claim category, whereby the cover is £85,000 per person per firm. Plus500 also operates on the premise of no detrimental loss such that you can't lose more anything beyond what you have invested.

Operating in multiple regions, the trading platform is also subject to regulation from the different region-specific regulatory bodies—for example, The Israel Securities Authority (ISA) in Israel. The Monetary Authority of Singapore allows it to operate in the country as a capital market, while the Australian Securities and Investments Commission provides licensing for operations in the country.

Plus500 also holds licenses for New Zealand and South Africa. Trading in any country comes with the needed peace of mind as the Financial Services Compensation Schemes protect the investments.

The high-intensity operation has seen Plus500 the recipient of some of the top financial awards like the Best Overall Broker by daytrading.com in 2020 and 2019. It has also received the Best Trading App 2019 from the entity.

Country

Licensing

Europe

Financial Conduct Authority

New Zealand

Financial Markets Authority

Singapore

Monetary Authority of Singapore

South Africa

Financial Services Board

Israel

Israel Securities Authority

Australia

Australian Securities and Investments Commission (ASIC)

Account Types

Plus500 provides a basic account to all traders in the beginner and only upgrade one to the pro version after meeting the set conditions. A pro account comes with several top-quality services and extended leverage.

plus 500

To attain pro status, the trade must have had sufficient trading in the past 12 months. The trader must hold a portfolio of more than 500,000 Euros, savings, and financial instruments combined. Relevant experience in the financial sector also goes a long way in improving the pro status qualification.

Basic Account

Pro Account

Available to everyone

Available to the professional traders

Get immediately

Apply after 12 months of sustained trading

Available with any income

You must have sustainable income over the past two financial years.

Holds assets of any value

Requires the trader to hold assets of at least 500000 Euros

Trading Platforms

Plus500 is all about simplicity when it comes to trading platforms. While most trading sites have embraced the popular MetaTrader suite, Plus500 retains the propriety platform. It is quite user-friendly and navigable in several gadgets. Plus500 provides for use in multiple formats like the web and mobile version.

The platform supports several languages that make it accessible in multiple countries. It also comes with a clean design for the ultimate look and feel.

Additionally, the platform provides a search function that makes it easy to locate the assets to trade. Placing an order on the platform is quite seamless. The trader can either use the market, limit, stop, or trailing stop options when placing the orders. 

The usability of the platform just doesn’t stop as it also supports alerts and notifications. The platform allows you to receive information through emails or SMS for various trading parameters. It also comes with portfolio and fee reports for ease of tracking transactions.

The platform also has its fair share of downsides like limited customizations and not supporting automated trading. It also lacks some third-party plugins that can be limited to an advanced trader.

Pros

Cons

Ease of use

Limited customizations

Usable in multiple devices

Lack of several third-party plugins

Supports multiple languages

Feels basic for advanced traders

Clean design

Search function

Ease of placing order

Support alerts and notifications

Markets and Products

Plus500 is a popular broker for CFD. It offers a wide range of CFD as compared to the other brokers like eToro and XTB. The CFDs total to 2033. The only downside is that it provides a lesser selection of cryptocurrencies compared to those brokers. The platform only supports cryptocurrencies as CFDs, unlike the other sites that support crypto as an asset with wallet storage.

CFD is quite complicated and requires in-depth information before investing. With over 80.5% of investors losing on the CFDs, it is quite a risk for amateur traders.

The major drawback of trading in Plus500 is that it does not support the change of leverages.

Customer Service

Plus500 has invested in exceptional customer service. It provides for an interactive live chat that gives detailed information at a go. Even though it does not provide for phone service, it compensates for it through an equally speedy WhatsApp service.

The broker also provides for email customer support. Replying within an hour, the email is quite responsive compared to the other trading sites. Ultimately, it provides a 24/7 customer service that is convenient for the traders.

Customer Service

Present

Webchat

Yes

Phone

No

WhatsApp

Yes

Email support

Yes

24/7 customer service

Yes

Education Material

If there is one aspect, Plus500 could do better education and research. It does not provide any research materials at the moment. It also does not offer in-depth educational materials like the other trading sites.

It only provides for crucial information document that includes necessary information on the available investments and associated risks.

On the better side, though, it provides for a demo account. Traders use the account for training and only graduates to investing real money once they have mastered the trade.

Material

Plus500

Research materials

Not available

Educational materials

Mid-range

Videos

Few

Demo account

Present

Deposit and Withdrawal

Plus500 supports a wide variety of currencies that make it an ideal trading option for most traders. To confirm if the currency they want to trade-in is available, the trader needs to contact support. Trading in a supported currency helps in saving the conversion fees.

Plus500 provides for several payment and withdrawal methods like Credit and debit cards, PayPal, bank transfer, and Skrill. It allows for a deposit minimum of 100 dollars.

Even though it provides for several withdrawal methods, one can only withdraw using the method used for payment. It also provides for withdrawal limitations but does not charge withdrawal fees. It processes the transactions within three days. 

Pros and Cons

With all this information, arriving on the pros and cons of Plus500 is quite straightforward. One of the main benefits that come with using Plus500 is the ease of operations. It also provides for ease of opening account and does not charge trading commissions.

On the other side, it provides for less educational materials that can make it hard to navigate for beginners. It does not provide for research tools. It also offers limited trading options.

Bottom Line

 After years of operations, Plus500 has continued to grow in dominance as one of the most secure and easy to use CFD and forex brokers. Even though it comes with a primary interface, it allows for high-end trading options for ardent traders.

The provision of the pro accounts sets the professionals apart by providing for more leverage and user options.

Even though it provides for less educational materials and research, any trader can apply the general industry knowledge and make it.

Share:

COMMENTS (0)

Manage your own Watchlist

Access all education lessons

Converse with other crypto enthusiasts

Be a part of the Interactive Crypto Community

LIVE RATES

ALL

TRENDING

Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.

{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)

Symbol

Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.

24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.

Trade

{[{ item.name }]}
   {[{ index + $index}]}     {[{ item.pair.split('_')[0] }]}

Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}

{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%

{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%

TRADE

Showing {[{ showing }]}

Symbol

Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.

24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.

Trade

{[{ item.name }]}
   {[{ index + $index}]}     {[{ item.pair.split('_')[0] }]}

Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}

{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%

{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%

TRADE

Showing {[{ showing_trend }]}