An efficient broker Plus500 focuses on trading in a vast range of financial markets with reasonably low spreads and no commissions except providing lots of extra services. Since 2008, Plus500 has been in the CFD and forex business. The Financial Conduct Authority (FCA) licensed it, and it gets registered in the UK.
The company provides access to a wide-ranging product line such as stock indexes, forex, commodities, equities, ETFs, cryptocurrencies, and options. In 2013, Plus500 was the first broker to launch a Bitcoin CFD. Commissions are not charged on any of the trades. Within the spread, all costs are included for each of the above 2,000 trading instruments provided on the WebTrader platform of Plus500.
Plus500 review will thoroughly explain each and everything you need to know before connecting with it. On the AIM segment of the London Stock Exchange, Plus500 Ltd (PLUS.L) is an openly traded company since 2013, together with a £1.73 billion market capitalization and clients in more than 50 countries from around the globe.
Regulation and Security
Among the most highly regulated brokers, Plus500 is the one with a great amount of benefits for traders who are seeking to trade with a reliable broker. The Financial Conduct Authority (FCA) in the UK is the primary regulator and considered as the most reliable broker in the whole world.
Under the Financial Services Compensation Scheme (FSCS), traders are protected up to £85,000 as per regulatory needs. This broker operates a subsidiary that the Cyprus Securities and Exchange Commission (CySEC) regulate.
With the help of regulated entities available in Australia, regulated by the Australian Securities and Investments Commission (ASIC), in New Zealand under supervision of the Financial Markets Authority (FMA), in South Africa regulated by the Financial Services Board (FSB) and in Singapore authorized by the Monetary Authority of Singapore (MAS), Plus500 serves traders.
Other than that, the Plus500 review shows that it has an Israeli branch as well authorized by the Israel Securities Administration. According to the regulatory needs, client funds kept separate from the funds of the company. It is a good thing that Plus500 is serving traders from a proper supervisory station, and traders can trust this broker with deposits.
Plus500 offers two kinds of real accounts, and you can choose between the Real Money mode and Demo mode account.
The basic live trading account is having an at least deposit requirement of $100 and maximum leverage of 1:30. The spread is inconsistent, and no commissions are needed.
For this account type, existing traders have to perform at least 10 transactions each quarter for the last one year. The whole investment portfolio of the trader must be at up to EUR 500,000.
With leverage up to 1:300, professional account holders can trade and get the advantages provided to retail customers at no extra cost.
Apart from that, the demo account offered is free and unlimited. For beginners, this is really important to understand the market and trading platforms offered. The process of registration is simple and easy. Clients are needed to fill up the short form or login with Facebook or Gmail account. In this case, no forms are needed.
Here is a list of clients that are not allowed to register or use the services of Plus500:
- North Korea
Deposits and Withdrawals
Plus500 review also explains the payment and withdrawal methods, such as:
- Credit/Debit Card
- Bank Transfer
Also, keep in mind that the $100 is at least amount to deposit. You can use the same methods for withdrawals and deposits. In terms of withdrawals, the processing time is about 3 working days. Also, note that all the methods for withdrawal have a minimum threshold amount.
- Availability of Bitcoin, Ethereum, and other cryptocurrencies
- Easy access to more than 2,000 trading instruments
- Lowest spreads and commissions in the industry are available
- Availability of educational materials is not so high
- More than 2,000 instruments are available, but only a few tools use to analyze them
- WebTrader platform of Plus500 cannot get paired with other tools or platforms
Your trading experience, as a simple trader, with Plus500, will be outstanding. With low charges, you will get lots of benefits and several trading instruments. On the other hand, professional traders use indicators, complicated charts, Expert Advisors, etc. so, Plus500 may not be able to serve them well.
Although the offering is simple, but it matters for risk management tools, and trading alerts will be sent every day through email and SMS.