Plus500 is a complete CFD broker that currently offers one of the largest selection of CFDs on the market. Last time we checked they had over 2,000 stocks, commodities, currencies (forex), Exchange-traded funds, options, and cryptocurrencies. In this Plus500 review, we will walk you through the Plus500 trading product.
Plus500 was launched in Israel during 2008 and offers access to most of the world’s investment markets.
On top of its impressive selection of CFDs, 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), and they represent one of the industry’s leading affiliate programs. Plus500AU Pty Ltd, AFSL #417727 issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents.
All of the above-mentioned organizations are strict and have extreme requirements that have to be met in order to obtain their licenses. Because of this, your safety is guaranteed when trading and using Plus500’s services and trading platforms. Since the 2015/2016 season, Plus500 is the official sponsor of the Spanish football team Atletico Madrid. Lets get started with the review.Create account at Plus500!
Is Plus500 a scam?
No, Plus500 is not a scam but rather one of the best CFD brokers on the market. There is no need for you to worry about your safety and money while using Plus500 for your investments.
However, similar to other brokers, Plus500’s journey hasn’t been completely smooth sailing. In 2012, Plus500 was fined by the FCA when they failed to deliver transaction reports from their customers. In 2015, they were forced to freeze 55 percent of their British customer’s accounts since their prevention of money laundering was considered inadequate. It took over 2 months for most customers to get their money back.
With that said, Plus500 has always managed to recover, and every time they encounter a problem with one of the regulating authorities, they do whatever is necessary to solve the issue. In fact, most of the brokers that are regulated under these strict rules will make mistakes at some point or another. We prefer to not only focus on the issues that arise but how the brokers handle those issues and what policies they have in place in order to deal with these situations.
Today, Plus500 is run with the utmost care and there is no doubt in our minds that they are trustworthy. If you’re interested in trading with CFD, Plus500 is a good choice with a well-designed platform and a mostly positive reputation.
Plus500 Trading Platform
When Plus500 was first launched in 2008, the broker was only available for Windows. It took two years before a version that was compatible with Apple’s operating systems, as well as Linux, was developed. The platform is a WebTrader meaning that it does not require a download and is used by a browser.
Plus500 has done a very good job at developing their own platform and we were excited to see a relatively small broker that was able to offer a product that could compare with the big players from day one. If you want to trade with Plus500 you’ll get to use a neat, practical, and good-looking platform with an easy-to-use interface.
The platform they offer is available through your computer, web browser, smartphone, tablet, and nowadays also on your Apple Watch. You can read more about the different trading platforms below.
– Webtrader is the internet based version of Plus500’s platform. This version doesn’t require a download and can be reached through the web browser on most operating systems. A web based trading platform is best when you need access to your account from a shared computer (a library, workplace, school, etc.)
– Plus500 Trading Platform is a trading platform that can be downloaded to Windows and Mac computers. It is a comprehensive and stable platform with all the necessary tools you might need. Only through this version do you get access to all the products and services that Plus500 offers.
– Dedicated App – Plus500 has developed an investment application compatible with all portable devices such Apple, Android, and Windows. The app is stylish, innovative, and easy to use.
– Apple Watch – Plus500 is unique in the sense that they also developed a version of their smartphone app for Apple Watches. It is a simple app that lets you check the status of your trades as well as analytic information.
Plus500 Trading Accounts
On today’s market, it is more or less industry standard to offer two trading accounts. A regular trading account that’s used to trade with real money and a demo account that’s used to trade virtual money under real market conditions but with zero risks.
Plus500 does not offer VIP-accounts or loyalty points. Instead, they offer several generous bonuses and exciting campaigns. These offers are constantly changing so you need to contact Plus500’s customer service to get the latest information. For now, you will have to use either the Plus500 demo account or the real money account.
Plus500’s Focus on CFDs
Next, in our Plus500 review, we will take a closer look at what CFDs are and the advantages of trading with them.
CFD is short for Contract for Difference and it is a financial instrument that can be used as an alternative to the more common types of investment. A CFD is a contract where you the buyer and the seller, in this case, Plus500, agree on the price of an underlying asset. Your job is to then predict in what direction the value of the underlying asset will move and speculate your money on the prediction.
CFDs are unique in the sense that they are not time-based meaning that, in most cases, you can hold on to them until they give you as much profit as you like. A binary option is in many ways similar to a CFD with the main difference being that a binary option is sold at a predetermined time, whether or not it has yielded any profit.
Another advantage with CFDs is that they can be used on both bullish and bearish markets and that you can speculate on negative trends.
Due to strict rules against speculative investments, CFDs just like binary options aren’t available everywhere in the world. For example, you can’t trade CFDs within the United States or Canada.
Plus500’s Selection: Gain Access to Every Market
Today, Plus500 offers opportunities to trade on more than 2,000 financial instruments on some of the most lucrative markets in the world. This wide selection means that there is something here for everybody.
The following markets are currently available as CFDs:
- Stocks are one of Plus500’s strongest markets and they offer several hundred stocks from the world’s stock exchanges. Plus500 has categorized their stocks based on country, so it is very easy to find something suited to your needs. Would you like to trade on the Stockholm Exchange? No problem. Do you prefer the Polish Exchange? Go for it. Are you used to the London Exchange? No worries. Same goes for pretty much every country in Europe and all the world’s leading stock exchanges.
- Indices are a collection of stocks whose price represents the average price of all the included stocks. It is a huge market and naturally something that Plus500 offers their customers. You can use Plus500’s trading platform to trade on some of the most well-known indices in the world such as the S&P500 (U.S.), The Dow Jones (U.S.), F2MX (Germany), and OMXS30 (Sweden).
- Forex also called currency trading is another one of Plus500’s available markets. From the information on their website, we see that they offer the most traded currencies such as the American dollar (USD), the euro (EUR), and the pound sterling (GBP). These currencies can be combined with smaller currencies such as the Swedish krona (SEK), South African rand (ZAR), and Turkish lira (TRY).
- Commodities are one of the smallest parts of Plus500’s selection. They offer 17 different commodities such as cotton, coffee, gold, and silver.
- Cryptocurrencies are something that Plus500 started offering as soon as the international interest in digital currencies gained momentum. They are constantly working on broadening their collection of cryptocurrencies and currently offer 9 of the most popular ones. With Plus500 you can trade Bitcoin, Ethereum, Litecoin, and a few other digital currencies.
- Options is an unusual instrument among traditional CFD traders, but a breath of fresh air in our opinion. You can choose between a few hundred options organized by country, companies, and popularity.
- ETFs is short for Exchange-traded funds and Plus500 offers 50 of them. We enjoy trading ETFs and lately, it has become one of our main focuses which means that we really like how accessible they are on Plus500’s platform.
Trade Bitcoin, Ethereum and several other cryptocurrencies with Plus500
No one can possibly have missed the crypto hype that has been going on lately and neither has Plus500. Cryptocurrencies have been offered on the Plus500 ever since the international interest in digital currencies started picking up for real. They are constantly working on broadening their collection of cryptocurrencies and currently offer 9 of the most popular ones. With Plus500 you can trade Bitcoin, Ethereum, Litecoin, and a few other digital currencies. You can right now trader several cryptocurrencies with Plus500. Bitcoin, Ethereum, Bitcoin Cash, Litecoin, NEO, Ripply, Iota and more.
Plus500 On Your Smartphone
The company that operates Plus500 has always strived to be innovative and technologically leading in the industry. Due to this, Plus500’s latest effort has been to develop the best mobile product on the market. According to experts and recent data, mobile trading will become more and more common and we can already see how Plus500 is taking advantage of the movement. During 2016, Plus500 reported that almost half (close to 40%) of the total amount of trades conducted on their platform was done on mobile devices.
Plus500’s platform is compatible with iOS and Android devices.
Plus500 License and Regulation
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). It is very important to add that getting a license from Cyprus Securities and Exchange Commission (CySEC) is very hard and any broker who managed to receive such a license can be trusted. Plus500 is also one of the most trusted brokers online today with a really good reputation.
Plus500 Deposits and Withdrawals
Deposits and withdrawals with Plus500 are always encrypted for safety purposes and performed as fast as possible. If you experience problems with the payment options offered at Plus500, you’ll need to contact customer support. They are well-trained and are always ready to help. Deposits and withdrawals to and from your Plus500 trading account can be done using three different methods:
- Credit or debit card (Visa or Mastercard)
- E-wallets (PayPal or Skrill)
- Bank Transfer (From your bank account to Plus500)
Before you complete your first withdrawal, Plus500 will ask you to verify certain personal information in order to prove your identity. Usually, they’ll ask you to send copies of your passport or ID, credit card, utility bills, etc. Sometimes they might even ask to call you.
Note that all deposits have to be done from an account that is registered in the same name as you registered your Plus500 account with. If you try to deposit from another account Plus500 will stop the transaction. Withdrawals can be done to the account that was originally used to deposit your money. There are many other brokers that offer more payment methods but as far as we are concerned these methods are sufficient as they cover the need for 95% of the traders. Should you require any other method of payment then perhaps it would be wise to consider another broker.
Plus500 Customer Service
We have been in contact with Plus500’s customer service on a few different occasions and can assure you that they are very efficient. Unfortunately, they are not available on the phone which can be limiting if you experience issues related to your computer, internet connection, or trading account.
Instead, you need to contact Plus500 via a live chat feature on their website or via a contact form/email. We recommend that you use the chat since it is the fastest option and because the staff is knowledgeable and can help you with pretty much anything. The chat’s opening hours differ quite a bit depending on where you are located and what office you’re trying to reach. When the chat is closed, you can send them an email or fill in the contact form. Plus500 guarantees that all inquiries sent by email will receive a response within 24 hours.
For simple questions and minor problems, you can use Plus500’s FAQ. In the FAQ, the most common issues are listed as well as information regarding their platform, services, and features. We appreciate that many of the answers come with video clips showing how to solve the issue.
- They are regulated and licensed
- They have a solid reputation
- They are available in 30 countries
- They offer leverage, margins, and tight spreads
- They have a safety features that limits your losses to the money available on your account
To verify your account with Plus500 you will have to submit a copy of your identification, either a passport or a driver’s license. You will also have to submit a verification of your address such as a utility bill. Also, if your preferred payment method is a credit or debit card you will also have to submit copies of both sides of the card.
The Plus500 platform is easy to use and it doesn’t take long to get used to. In fact, we really enjoy the Plus500 platform and even prefer it over some other options.
● Credit or debit card
● E-wallet (PayPal and Skrill)
● Bank transfers
Note that the options might vary depending on where you are and that some of them require extra verification. Also, don’t forget that you will have to withdraw your wins to the same account that you used to deposit the original funds so you need to make sure it’s an account that you have easy access to.
The first deposit needs to be $200s or more, after that you are allowed to deposit smaller amounts. The high limits differ from user to user and region to region. We suggest you contact the Plus500 support for more exact answers.
That being said, e-wallets are usually the quickest option for payments.
Plus500 review – conclusion and final thoughts
Are you looking for a broker that can be trusted and that has a really good platform? Then Plus500 is the right option for you. In fact, Plus500 is one of the brokers that we feel strongest about here on BullMarketz.com. Perhaps it is because of the amazing trading platform or simply because they are one of the biggest and most trusted brokers out there today. In this Plus500 review, we have tried the demo account, we were satisfied. We have tried and tested their support team with tricky questions, we were satisfied. We have also explored their assets and the inventory of tradables and we are impressed. Not many brokers can match the selection available. A huge selection of Stocks, Forex pairs and cryptocurrencies are available at your fingertips.
If you are still not sure about Plus500 then we highly recommend that you set up a free demo account and try their platform yourself. We hope that you have enjoyed our Plus500 review. Feel free to leave a comment with your thoughts on the broker below.