Broker Review of PLUS 500
In September 2018 Plus500 became a component of the FTSE 250 index making it one of the most highly reputable online retail forex and CFD brokerages. Founded in 2008, and becoming publicly listed on the AIM section of the London Stock Exchange in 2013, its market capitalization has now surpassed a valuation of over $1 billion. Plus500 Ltd is headquartered in Israel and operates offices in the United Kingdom, Cyprus, Israel, Singapore, and Australia.
Plus500 adheres to various financial authorities. In the UK, it abides by the regulatory oversight of the UK’s Financial Conduct Authority (FCA). For Australia, New Zealand and South Africa, the Australian Securities & Investments Commission (ASIC, AFSL) is the regulator under which Plus500 operates. Plus500 also observes the jurisdiction of the Cyprus Securities Exchange Commission (CySEC)
Plus500 provides its customers over 2,000 products to trade. Tradable assets include CFDs on shares, indices, commodities, ETFs, options, and digital assets. Also included are a large selection of forex pairs, and CFDs on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, and IOTA. Below is a list of instruments available for trading at Plus500.
|Asset class||Number of instruments||Spreads from||Margins from||Leverage Upto|
|Cryptocurrencies||13+||1.1% mkt. price||5%||1:20|
Plus500 offers a standard account and a Gold account to its customers. The two types of accounts are very similar with the exception of trade size and overnight funding charges. Also available is a demo account with no time limit so the customers can practice and improve their trading skills. Below is a list of details and features for the standard account.
|Zero spread account||No||No|
All client money is held in segregated client bank accounts in accordance with the Financial Conduct Authority’s client money rules. An overnight Plus500 fee (or credit) is either added to or subtracted from a trader’s account when a position remains open overnight. Plus 500 charges a $10 inactivity fee if there is no activity on the platform for a period of three months. This Plus500 fee only applies to real money accounts and only if the trader has sufficient funds in the account. Traders simply need to log in to their accounts periodically to avoid these fees. Islamic accounts are available.
Funding a Plus500 account can be accomplished via bank transfer, e-wallets, or credit card including MasterCard, Visa, PayPal, and Skrill. Bank transfer transactions may take up to 3 business days.
Opening an account with a Plus500 is usually completed within 3-business days. Documents required are a valid ID (i.e. passport, driver’s license, or national ID), and proof of address (i.e. bank statement, utility bill, or tax invoice dated within the last three months and issued to your name and address).
does not accept clients from the following countries: USA, Canada, Belgium, China, Singapore, Indonesia, Philippines
Web & Desktop Trading Platforms
Plus500 offers its clients a desktop, web, and mobile proprietary trading platform. The platform is very straight-forward and user-friendly.
Plus500 Trading Platform
The platform displays charts with technical analysis indicators, and the assets available for trading can be seen in the upper part of the screen. The time frame of the chart can also be adjusted from 1-minute view to 1-week view. Although the platform is simple to use, it does not have the sophisticated trading tools the Meta Trader (MT4) provides. The web version of the platform combines Java and html features within a sleek user interface design, adding a more streamlined layout than the desktop version. The platform includes over 100 technical indicators available, and traders have the ability to save chart templates. A Plus500 mobile app is also available and is very similar to the web and desktop versions. Below is a table that summarizes the important trading features included in the platforms.
|Platform Feature||Plus500 platform|
|Stop loss Orders||Yes|
|Expert advisors (EAs)||No|
|Virtual private server||No|
|Direct market access||No|
Plus500 doesn’t provide formal phone support. The brokerage focuses mainly on a ticket-based email support system and a fully staffed 24 hour-a-day live chat operation during the trading week. Phone support is granted under certain extraordinary circumstances
Plus500 doesn’t offer any educational courses, videos or market commentary on its website. Plus500 does provide an economic calendar powered by Dow Jones.
For further information on the:-
Thank you for visiting ChoosaBroker
We apologise, but the service or content you are attempting to access is not intended for residents of USA. Please let us know how you’d like to proceed