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Plus500 Review : Unbiased Pro & Cons

Plus500

$100

Min Deposit

1.2 Pips

Min Spread

2003

Foundation

7/10

Broker Trusted Point

Introduction

With its name drawn from a famous, huge hawk that is well-known for its fishing skills, Plus500 is a recent entrant to the forex brokerage industry. To fulfil all of their trading demands, including cryptocurrency trading, the company wants to offer a platform to both novice and seasoned traders.

Every element of Plus500 will be emphasised in this evaluation. Your decision about Plus500 as a broker for your trading requirements will be made easier by this Plus500 review.

Overview

Broker Plus500
Website https://www.plus500.com/en-in/
Registered Country Cyprus
Founded In 2003
Regulation Cyprus Securities and Exchange Commission (CySEC)
Trading Platforms Web-Trader, iPhone/iPad, Android app and Windows app.
Minimum Deposit $100
Maximum Leverage 1:300
Spreads Starting from 1.2 Pips
Demo Account  Yes
Islamic Account No
Payment Methods bank wires, credit/debit cards, Skrill, Neteller, and Paypal
Customer Support Contact:+65 6320 1111 or +65 6320 1119a 

What is Plus500?

What is Plus 500
What is Plus 500

Because of its cutting-edge trading platform, Plus500, an Israeli company founded in 2008, has emerged as a major force in the CFD market. It has 400,000 active clients and works in more than 50 countries. One of the few publicly traded CFD brokers is Plus500, which is listed on the London Stock Exchange (LSE: PLUS).

Through its worldwide businesses, Plus500 complies with regional financial requirements. The Chicago Bulls basketball franchise signed Plus500 as an official partner in 2022. Online traders can easily utilize Plus500, a reputable international company, as a trading platform. Through its Plus500 CFD platform, it offers a range of CFDs, equity trading via Plus500 Invest, and futures in the US market.

Is Plus500 safe?

Plus500 is a regulated broker, which shows its commitment to being transparent and accountable. It is authorized and regulated by well-known financial authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the UK’s Financial Conduct Authority (FCA). Plus500AU Pty Ltd is licensed by the Australian Securities and Investments Commission (ASIC), the Financial Markets Authority (FMA) in New Zealand, and the Financial Services Provider (FSP) in South Africa.

However, it is important to note that when trading with Plus500, you do not own the underlying assets. Also, make sure you fall within Plus500’s Target Market Distribution. For more details, check the Disclosure documents on their website.

Assets available at Plus500

To accommodate a variety of trading tastes, Plus500 provides a large selection of tradable instruments. In addition to well-known cryptocurrencies like Bitcoin, Ethereum, and Litecoin, traders have access to a wide variety of currency pairs, including major, minor, and exotic alternatives. In addition, the platform gives users access to agricultural items, energy resources, and precious metals for trading commodities. There are international stock exchanges as well as a variety of indices, such as the S&P 500 and FTSE 100, for equity trading and speculation. Plus500 also provides CFDs on futures contracts and Exchange-Traded Funds (ETFs), enabling traders to diversify their holdings and use a variety of approaches.

How to open an account with Plus500?

Step 1: Click on “Start Trading” on the homepage of the website.

Step 2: Fill out your personal information, such as email address and password.

Step 3: You can also open your account with the help of your google, Facebook and Apple account. 

Step 4: You can now invest in your account.  

Login with Plus500

You can use your email address and password to log into Plus500 after creating an account on the website.

Trading Platform available at Plus500

Mobile Trading Apps

Plus500 provides traders with mobile trading apps for iOS and Android that allow them to trade from anywhere at any time. The apps ensure a seamless trading experience on smartphones and tablets by offering real-time price quotations, sophisticated charting capabilities, and quick trade execution.

Web Trading Platform

There is no need to download or install any software because the web platform may be accessed with any contemporary web browser. With its easy-to-use interface, traders can manage positions, make trades, receive real-time market data, and keep an eye on their accounts.

Proprietary Platform

Exclusive Interface Plus500’s own trading interface is made to be simple to use and effective. It has an easy-to-use interface with all the necessary trading capabilities, such as risk management, order execution, and real-time market data.

Trading with Algos and Copy Trading

Plus500 does not provide any tools specifically for copy or algo trading. Rather, its main objective is to provide traders with direct market access so they may execute their own trades according to their research and ideas.

Fees, Commission and Spreads

Account Minimum

Plus500 requires a low account minimum of $100, making it accessible to traders with different budgets. This allows beginners to start with a small investment and increase it as they gain experience.

 

Trading Fees

Plus500 offers tight spreads, meaning traders don’t pay a fee per trade. Instead, the broker makes money from the difference between the bid and ask prices, which can save traders from extra transaction costs.

 

CFD Fees

Fees for Contracts for Difference (CFDs) are included in the spreads. These spreads vary based on the asset, market conditions, and currency pair. While there are no direct CFD fees, traders should consider the spreads when trading.

Inactivity Charge

Plus500 levies an inactivity fee on accounts that remain dormant for a duration exceeding three months. This fee, which is deducted from the account balance, is intended to promote consistent trading.

 

Fee for Overnight Funding

There can be an overnight financing fee for traders who hold CFD holdings. Positions that are left open past a specific time each day are subject to this fee.

 

Leverage 

A notable feature of OspreyFX is the range of leverage options available to clients. These are:

  • 1:300 for Forex
  • 1:150 for Commodities
  • 1:150 for Indices
  • 1:20 for Shares

Withdrawals and Deposits at Plus500

Deposits

Using a variety of deposit alternatives, such as credit/debit cards, bank transfers, and electronic payment methods, Plus500 makes managing your trading account simple and safe. To make a deposit, sign into your Plus500 account, navigate to the deposit area, select your preferred payment option, fill out the necessary information, indicate the amount, and then follow the on-screen instructions to finish the transaction. Electronic wallets and credit/debit cards allow for instantaneous deposit processing; bank transfers may need several business days.

 

Withdrawals

At Plus500, withdrawals are processed in the same way as deposits for an easy transaction. To take out money, sign in to your account, navigate to the withdrawal area, select a withdrawal method, input the desired amount, and then submit your request by following the instructions.The time required for processing for withdrawals made by credit/debit cards and electronic wallets is usually 24 hours, whereas bank transfers could take a few business days.

A flawless trading experience is ensured by Plus500’s user-friendly and effective deposit and withdrawal procedures, which include immediate deposits and short withdrawal processing periods.

Educational and Research Resources

Helping Traders in Making Knowledgeable Choices

Plus500 provides a range of research and instructional materials to assist traders in making knowledgeable choices. Their Learning Center has some helpful articles, videos, and tutorials, although it is not as complete as some of the best brokers.

 

Advancements in Education

With the launch of the Trading Academy, which offers webinars, articles, and videos, Plus500 has demonstrated its dedication to enhancing its instructional offerings. This work is aided by partnerships such as the Corellian Academy on YouTube.

 

Points of Improvement

Even if Plus500 has improved, more interactive materials, such as simulations and quizzes, could improve the educational process. All things considered, Plus500 offers some excellent resources, but traders might require more to fully understand the subject.

Customer Support 

Customer Support
Customer Support

During regular business hours, Plus500 offers first-rate customer service by email and live chat, guaranteeing prompt answers to questions. In order to serve traders from various time zones, they expand their assistance hours. A useful FAQ feature on the website enables traders to get answers without contacting the company directly. Plus500 is a trustworthy option for assistance because of its evident dedication to meeting traders’ demands.

Customers may reach customer support by:

Phone number:+65 6320 1111 or +65 6320 1119

The website also has a live chat feature.

Conclusion of Plus500 review

A reliable broker, Plus500 provides an easy-to-use trading interface that can be used by both novice and seasoned traders. It offers a large selection of tradable assets, including as stocks, cryptocurrencies, and CFDs, to accommodate different trading styles. Because Plus500 is governed by important financial agencies, security and transparency are guaranteed. It offers simple deposit and withdrawal procedures, friendly customer service, and an expanding collection of instructional materials. But it might not be sufficient for traders looking for in-depth market study. All things considered, Plus500 is a dependable option for anyone wishing to trade easily across multiple markets.

FAQs 

What is the minimum deposit required to start trading on Plus500?

The minimum deposit required to start trading on Plus500 is $100.

Is Plus500 regulated by any financial authorities?

Yes, Plus500 is regulated by several major financial authorities, including CySEC, FCA, ASIC, FMA, and FSP.

What types of trading platforms does Plus500 offer?

Plus500 offers mobile trading apps for iOS and Android, a web trading platform, and its proprietary trading interface.

Can I trade cryptocurrencies on Plus500?

Yes, Plus500 allows trading in various cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.

Does Plus500 charge any fees for inactive accounts?

Yes, Plus500 charges an inactivity fee if an account remains inactive for over three months.

How quickly are withdrawals processed on Plus500?

Withdrawals via electronic wallets and credit/debit cards are typically processed within 24 hours, while bank transfers may take a few business days.

Does Plus500 offer educational resources for traders?

Yes, Plus500 offers a Learning Center with articles, videos, and tutorials, and it has launched the Trading Academy to enhance its educational offerings.

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