Plus 500. A well known brand in the sector
Plus500 is a CFD broker, as such only CFDs are available. It is an Israeli company, listed on the London Stock Exchange . Its subsidiaries are regulated : Plus500UK Ltd authorised & regulated by the FCA (#509909). – Plus500CY Ltd authorized & regulated by CySEC (#250/14). Your investor protection depends on your residency as Plus500 serves customers through these subsidiaries.
CFDs are usually leveraged products with high risk. 80.6% of retail investor accounts lose money when trading with this provider. You should consider whether you can afford to take the high risk of losing your money.
Important notice for daytraders: at Plus500 scalping is defined as “A trading strategy where a significant portion of the customer’s positions are opened and closed by him/her within 2 minutes.” If Plus500 believes you were following this strategy, your account might be blocked and closed. So if you plan to execute trades within 2 minutes, Plus500 is not your broker.
Plus500 offers two account options, consisting of a demo account, which has no time limit and can be opened free of charge, and a live account that requires a minimum deposit of 100$. Leverage for forex accounts is a maximum of 1:30.
Trading foreign exchange on margin poses a high risk level and it may not be fitting for all types of investors. The elevated degree of leverage can cause positive and negative outcomes.
Plus500 offers a comprehensive and easy to use proprietary trading platform and technical analysis software for their clients. The trading platform allows the trader to trade in multiple markets from the same screen and provides real time quotes for all of its products.
You can trade CFDs on Forex, commodities, cryptocurrensies, stocks, indexes, ETFs.
Besides its ease of use, the main advantage of the Plus500 trading platform consists in an all inclusive trading screen with clearly labeled tabs on top for details on past trades and current positions, as well as multiple market trading capabilities. Charting software is included with the trading platform, but charts appear individually, since the charting software does not allow for multiple graphs on the same screen.
The Plus500 trading platform comes in four different versions: a downloadable version, which can be copied to your laptop or desktop, a web-based version, which allows the trader to access the platform from any other computer, App versions for iOs, Windows and Android smartphones and also Apple Watch platform.
So as different from other brokers, plus500 uses their own platform instead of third-party ones like MT4. If you are interested in MT4 we recommend to check out Tradefred.
Deposits and Withdrawals
Funding an account at Plus500 can be accomplished through a Visa or MasterCard credit card, MoneyBookers or through a wire transfer. The fastest way to begin trading is by depositing through a Visa or MasterCard. To complete a deposit, the customer need to click on “Funds Management” -> Deposits” and follow the instruction accordingly.
Funding an account through Moneybookers is just as easy. The customer must navigate to the “Funds Management” window in the trading platform, select the Moneybookers option, and enter the Moneybookers e-mail address. A new pop up window will open where the Moneybookers transfer can be confirmed.
Deposits made to Plus500 through a wire transfer are generally straightforward but take up to ***five days** to show up in the account. For a wire transfer deposit, go to the “Funds Management” window, click on “Deposit” and choose “Wire”, then click on the “Send me Wire Details” option. Plus500 will then email the customer with the wiring details.
The Plus500 email will give the customer the details for wiring funds to their bank and also state the minimum and maximum deposit amounts allowed through a wire transfer. The minimum deposit is 100$.
Due to regulation requirements, each customer is required to provide a photo ID (passport, driver’s license or other official document) and verify his registered address, before being allowed to make a withdrawal.
The Plus500 website has a user-friendly website and a user-centric approach which makes a pleasant trading experience for traders at all levels with a proper understanding of how Forex trading works. With nearly 10 years of experience, it’s no surprise that Plus500 has grown into one of the top CFD services on the market.
*76.4% 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