Plus500 is one of the most popular online trading platforms world-wide. This is a CFDs broker that enables customers from around the world to trade CFD contracts based on Forex (currencies), options, ETFs, stocks, commodities and more. In our Plus500 review we have really come to like the simplicity of getting a demo account, signing up for a real account and the easiness to enter their trading platform. Often CFDs and forex trading seem very complicated for outsiders, but Plus500 makes it easy to open an account and get to the trading platform, with no unnecessary downloads and complications.
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
Account Features
If we had to choose the biggest feature of Plus500 – it would be amazing user experience. When entering their website, clients will most probably be greeted in their own language since the website is translated in 31 languages. In order to get an account, all one needs to do is to click “Start trading” from the main menu.
Plus500 demo account
After the “start trading” was clicked, traders will be offered to choose to open a demo account or a live account. Plus500 demo account will be launched immediately upon selecting the Demo button. Not only that, the trading platform will load and 40.000 units of virtual money will be assigned. Demo trading does not carry risk. Traders can use these virtual funds to test drive the platform and start trading without depositing any of their own money. Once the balance of the demo account drops to 200 currency units or below, the initial demo amount will be automatically refilled by the system
Plus500 live account
Switching to a live account is just click away from the demo account. In order to activate the account, the trader needs to fill in personal information and answer some basic questions about CFDs trading with forex, options, ETFs and other underlying assets to show a basic understanding. We encourage everyone to read our forex page basics as well as materials on the Plus500 website in order to understand what online trading in CFDs is about. When trading CFDs, the outcome depends on the prices of underlying assets like exchange rates or stocks. Plus500 does not offer trading of stocks, but CFDs that use stocks as underlying asset. This means that the client does not own the underlying asset, but the contract it is trading, based on that asset’s price.
The trading conditions with Plus500 are favorable and in many cases better than the competition. There is no negative balance – customers cannot lose more than the amount of money they have on their account.
Spreads are variable and there are no commissions. The maximum leverage is 1:30.
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
Trading Software & Assets
Plus500 platform is web based, but customers can get software and mobile versions so every type of online trading CFDs is covered. For Plus500 review we used the web platform which has proven to be very reliable enabling fast trading with real-time prices.
The trading platform is dominated by asset list and the chart. The asset list can be filtered according to some of predefined settings like “Most popular” and “Risers and fallers”. If client selects a list of favorites (clicking the star next to the asset name on the right) she can access all favorites with “My Favorites”. Other filters include types of underlying assets offered.
Here is another are where Plus500 shines. The selection of underlying assets that are base for CFDs is very long and includes all the important groups – from stocks, options, ETFs, currencies (forex), commodities and indices. Shares CFDs can be sorted by country or popularity.
Plus500 Cryptocurrencies CFD Trading
Plus500 also offers trading on cryptocurrencies. Do not mistake Plus500 for a cryptocurrency exchange – they do not offer a wallet for owning cryptocurrencies, but offer CFD trading, meaning that yu do not even have to own the cryptocurrency and be dependant on the unreliable crypto exchanges and their deposit/withdrawal systems in order to get an opportunity to speculate on price of Bitcoin or some other crypto -asset. Read our article about why regulated CFDs brokers are a better choice when it comes to cryptocurrency trading.
Plus500 supports CFDs based on Bitcoin, Litecoin, Ethereum, Ripple and Dash.
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
Support Information
Plus500 support can be reached through the live chat directly in the trading platform. The support is available 24/7 and can also be contacted by email. The support section of the website is also a FAQ answering some of the most basic questions.
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
Banking & Company Information
Deposits and withdrawals with Plus500 are simple and can be accessed through the platform. Simply choos “Funds management” and then select “withdrawal” or “deposit”. After the method was selected, everything else is pretty self-explanatory – fill in the amount and all the other requested info.
Plus500 minimum deposit is 100 EUR/GBP/USD or equivalents in other currencies chosen for the account.
The methods that can be used are
- credit cards
- debit cards
- bank transfers
- Skrill and other e wallets
Note: Plus500 does not offer binary options trading. Please note that not all methods are available in all locations.
Plus500 withdrawals works similarly as deposit from the technical standpoint. The request is usually processed within a day. In order to have an overview of the financial operations on your account just enter “monetary history” which the economics nerds among us found to be a wonderful wordplay on Milton Friedman and Ana Schwartz’s seminal work from 1963.
Plus500 is a regulated CFDs broker, Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909)., while Plus500CY Ltd has Cyprus, CySEC licence. Plus500AU Ltd has ASIC licence, FSP New Zealand Licence and even an South Africa FSP licence, which allows it to provide trading services in most of Europe, UK, South Africa, Australia and New Zealand. The US residents cannot open accounts with Plus500.
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