Read our in-depth Plus500 review 2021 covering Plus500 licenses, trading leverage, deposit, and withdrawal.
Plus500 Review from Gurus of Trading
This international company suggests a rather simple, intuitive service and a wide choice of CFD tools. It might be less good when it comes to the variety of trading instruments and industry research, but Plus500 is still highly recommended by many experts and their clients.
The official website is done in a minimalist style. It is not that easy to find educational materials, so this platform is not the best option for beginners. FAQ section is present, but it’s not that extended. Plus500 remains one of the top members of the Forex market. It was discovered back in 2008. In 2013, it was first listed on the LSE. Five years later, Plus500 showed up in the FTSE250 index. We have analyzed the main features of this site to write an objective review for you.
Key points to consider:
- The company is traded on the London Stock Exchange. To buy its shares, find LSE: PLUS indice.
- Plus500 is on the prestigious list of the FTSE 250 Index, which raises its credibility significantly. It is controlled within 3 tier-1 jurisdictions and 4 tier-2 jurisdictions. It is a low-risk solution for those who wish to trade freely.
- The prices and fees are close to the market average on the majority of trading pairs. Discounts are missing at this service.
- The service looks rather user-welcoming, but it lacks many features like more tools for analysis and learning. It is not simple to earn profits here if you are new to the business.
- Important notice: 72 percent of retail investor accounts lose money when trading CFDs with Plus500. That is not the worst result, and many other brokers do way worse. Still, users should consider whether they can afford to take the high risk of losing their money.
Registration is very simple. For a demo account, for instance, you just need to enter your email and password, and you're done. You have immediate access to the Web trading platform. An interesting fact is that users from some CIS countries are denied access to this broker. To register a real account, you must enter your personal data, country of residence, and mobile phone number.
Education and Research Opportunities
You will not notice a large array of academic materials unlike in the case of CMC Markets or IG. Plus500 has just launched a video section, and it is still half-empty. You won’t learn much from that.
As for the analysis of the market, there are no Forex daily news or online webinars and conferences. The website only contains an economic calendar and a link to Yahoo Finance. Tech and fundamental analysis content are absent. This part should be improved and extended for sure.
Methods of Deposit and Withdrawal
A welcome bonus of thirty dollars is available to all new users. The minimum amount for opening an account is 100 dollars. Options for both depositing and withdrawing funds are Visa cards, bank transfer, PayPal, Moneybookers, and Skrill. All of them are reliable, time-tested systems.
Trading Terms and Conditions
The broker provides only a couple of account types: a demo version account and a standard trading account. We should then discuss the trading interface.
Let’s say, you have opened a demo account. A deposit of 40,000 virtual euros is provided for trading. The company offers its own trading platform for use. There are both browser and mobile versions. The platform is simple and quite easy to use. There are no differences in trading on a demo version and with real cash (except for the adjustment for order execution speed). At the bottom of the platform, there is a button to switch between accounts, which is very convenient. A wide range of indicators is available. The leverage is 1: 300.
More than 2,000 trading instruments are offered for trading, including currency, CFDs on stocks, indices, commodities, and cryptocurrency. The spreads are mostly fixed at Plus500. For example, the spread for the EUR / USD pair is 0.6 pips. Execution of orders with a small delay; of the one-second order. There is the so-called $10 inactivity fee if you have not been trading on the platform for more than three months.
Safety and Security Measures
Plus500 is regulated by the UK Financial Conduct Authority (FCA, FRN 509909), the Australian Securities and Investment Commission (ASIC, AFSL # 417727), the Cyprus Securities and Exchange Commission (CySEC, License No. 250/14), and FSP No. 486026 issued by the FMA in New Zealand. Also, it is audited and controlled by an Authorized Financial Services Provider under license # 47546 issued by FSCA in South Africa. The FCA license guarantees automatic insurance of funds, up to 100% up to £50,000. User funds are held in segregated accounts. The security of personal data and funds is provided by using two-step identification via mail or SMS.
Technical and Customer Support
Plus 500 is a regulated broker. It is a reliable company with a wide range of tools and a simple trading platform. In 2021, the company managed to win such nominations, as Ease of Use (1st place), Trust Score, and Beginners. The biggest drawback is the lack and partial absence of research and educational content. They need more videos. The entrance deposit is among the lowest. We recommend this broker to novice traders and those who value simple and understandable trading methods.