Our Review of Plus500
The company was established in 2008 and this company offers an online CFD service. Currently, Plus500 has a platform that has generated a loyal and dedicated client base within Asia and Europe. They do not currently offer its services to any U.S. clients. This company provides more than 1000 instruments in which clients can trade.
This company offers a simple and straightforward account type. Plus500 offers one easy-to-use live account. This account requires a minimum $100 deposit for clients to open the live account. It is important to remember that opening the demo account can offer clients an automatic $25 that is free to trade with.
Commissions & Spreads
Currently, Plus500 is spread only. This means that they do not charge a commission. The company is compensated solely through the spread. With this broker, all the spreads are tight. Many brokers use floating spreads; however, the tight spreads offered by Plus500 can be as low as 2 pips which allow Plus500 to remain one of the most competitive brokers online.
The trading platform provided on Plus500.com is comprehensive and simple to use. The platform allows clients to trade in several different markets from one screen while offering real time quotes. One advantage of using Plus500.com is the platform's usability. This platform allows clients to trade CFDs, commodities, ETFs, stocks, and indexes on one organized trading platform.
The Plus500.com trading platform is available in three distinct versions. There is a web-based version, a mobile version, and a downloadable version. The web-based version allows clients to access accounts via any computer. The downloadable version is saved to a personal desktop or laptop computer. The mobile version allows user to access any account from a mobile device.
Deposits & Withdrawals
For the most part, the banking aspect of Plus500 is clear and uncomplicated. There are several basic ways to fund an account.
Wire Transfer – A deposit received via wire transfer takes up to three days to process. The process is simple. The client clicks on the Funds Management icon, selects Wire and clicks on the Send Me Wire Details. After this is completed, Plus500 sends an email containing wiring details. The email will provide all required banking details and minimum deposit information.
Credit and Debit Cards – Using a MasterCard or Visa is the fastest way to begin trading. This requires the client to access the Plus500 cashier screen. On this screen, the client must submit credit card information to start trading instantly.
PayPal – PayPal is a newer addition to the Plus500 banking process. This process is safe and easy. Clients simply access the primary trading lobby screen and click on the Funds Management icon. The client selects PayPal and enters the amount. The client must also enter individual PayPal details. Upon completion, a new window appears that requires confirmation on the PayPal website.
Moneybookers – This process is also straightforward. The client simply clicks the Funds Management icon and selects the Moneybookers option. After entering the appropriate Moneybookers email, a new window will appear and the transfer is ready for confirmation.
Customer support is provided by email. This is available 24 hours a day, 7 days a week. Although there is no live chat feature, Plus500 generally responds by email within 30 minutes.
Regulators & Safety
Plus500 UK Ltd is authorized and regulated by the Financial Conduct Authority (FCA). Plus500 CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission. The FCA has a built a reputation for being a strict and stern financial authority. The FCA offers investor protection of 100% of the initial £50,000 of a claim. Regulations with the FCA mandate that client funds are held in isolated accounts. This stipulation offers increased reassurance to clients.
Leverage is known as the amount a client can increase the value of a trade. Plus500 has a maximum leverage of 294:1.
Sign Up Bonuses & Deposit Bonus Promotion Codes
Plus500 currently offers a €25 Forex bonus to new clients that open an account. There is no minimum deposit to receive this bonus. Additionally, after making the initial deposit, the client receives up to an additional 30% if they use one of the following promotion codes:
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