Plus500 Rating Table
| Factor | Rating | Comments |
|---|---|---|
| Trust and Safety | ★★★★★ | Regulated by multiple authorities, strong security measures |
| Account Types | ★★★★★ | Single account type with demo option, suitable for various traders |
| Minimum Deposit | ★★★★★ | Low $100 minimum deposit |
| Deposit Methods | ★★★★☆ | Multiple options available, may incur third-party fees |
| Withdrawal Process | ★★★★☆ | No fees from Plus500, quick processing |
| Trading Platforms | ★★★★★ | User-friendly proprietary platform for web and mobile |
| Spreads and Fees | ★★★★★ | Competitive spreads, transparent fee structure |
| Instrument Range | ★★★★★ | Over 2,800 instruments across multiple asset classes |
| Customer Support | ★★★★☆ | Support during standard hours, multiple channels available |
| Educational Resources | ★★★★☆ | Decent resources available, room for improvement |
| Mobile Trading | ★★★★★ | Fully functional mobile apps for iOS and Android |
| Overall Experience | ★★★★★ | Excellent overall trading experience with minor areas for improvement |
Introduction
Plus500, established in 2008, has emerged as a prominent player in the online trading industry, particularly in the Contracts for Difference (CFD) market. Known for its user-friendly platform and global accessibility, Plus500 offers traders access to a wide range of financial instruments. This comprehensive review will delve into various aspects of Plus500’s offerings, regulatory status, and key features for 2024.
Is Plus500 Real or Fake?
Legitimacy and Track Record
Plus500 is a legitimate and well-established broker with a solid track record:
- Operational since 2008, demonstrating over 15 years of experience in the industry
- Publicly listed on the London Stock Exchange (LSE) and part of the FTSE 250 Index
- Offers over 2,800 tradable instruments across various asset classes
- Known for its user-friendly platform and competitive spreads
Regulatory Compliance
Plus500 maintains compliance with several respected financial regulators:
- Financial Conduct Authority (FCA) in the UK
- Australian Securities and Investments Commission (ASIC)
- Cyprus Securities and Exchange Commission (CySEC)
- Israel Securities Authority (ISA)
- Financial Markets Authority (FMA) in New Zealand
- Financial Sector Conduct Authority (FSCA) in South Africa
- Monetary Authority of Singapore (MAS)
- Financial Services Agency (FSA) in Japan
This multi-jurisdictional regulation enhances Plus500’s credibility and ensures adherence to strict financial standards across different regions.
Trust and Safety Measures
Client Fund Protection
Plus500 prioritizes the safety of client funds through several measures:
- Segregation of client funds from company operational funds
- Adherence to strict capital adequacy requirements set by regulators
- Financial transparency as a publicly listed company
Security Protocols
To safeguard client accounts and personal information, Plus500 implements:
- Advanced security protocols and encryption technologies
- Anti-money laundering (AML) procedures
- Know Your Customer (KYC) verification processes
- Risk management tools for traders, including stop-loss and take-profit orders
Account Types and Minimum Deposits
Plus500 offers a straightforward account structure:
- Standard Account
- Single account type for all traders
- Access to all available instruments and features
- Demo Account
- Unlimited and free practice account
- Replicates live trading conditions with virtual funds
Additional Features:
- No tiered account system, ensuring equal treatment for all traders
- Customizable demo account balance to match intended investment volume
Minimum Deposit:
- $100 for the live trading account
Plus500 does not offer services to US traders due to regulatory constraints.
Deposits and Withdrawals
Deposit Methods
Plus500 provides several deposit options:
- Credit/debit cards
- Bank wire transfers
- E-wallets (specific options may vary by region)
Minimum Deposit
- $100 for the live trading account
Withdrawal Process
Plus500 strives to make the withdrawal process smooth:
- Multiple withdrawal methods available
- No withdrawal fees charged by Plus500
- Processing times may vary depending on the withdrawal method
Trading Conditions
Spreads and Commissions
Plus500 offers competitive pricing:
- Tight spreads across various instruments
- No separate commissions on trades
- Revenue generated through the spread
Leverage
Plus500 provides flexible leverage options:
- Up to 1:30 for retail clients in regulated jurisdictions
- Higher leverage available for professional clients (subject to eligibility)
Instruments
Plus500 offers over 2,800 trading instruments:
- Forex
- Commodities
- Indices
- Stocks
- ETFs
- Options
- Cryptocurrencies
Trading Platforms
Plus500 provides its proprietary trading platform:
Web Trading Platform
- User-friendly interface accessible through web browsers
- Real-time market data and advanced charting tools
- Risk management features and one-click trading
Mobile Trading
- Dedicated mobile apps for iOS and Android devices
- Full functionality for on-the-go trading
- Seamless synchronization with web platform
Educational Resources and Research Tools
Plus500 provides a range of educational resources:
- Trading Academy with video content and written articles
- Trader’s Guide series
- Economic calendar and market news
- +Insights tool for market sentiment analysis
While the educational content is valuable, there’s room for improvement in terms of depth and variety compared to some industry leaders.
Customer Support
Plus500 offers customer support:
- Live chat and email support during standard hours
- Extended support hours for different time zones
- Comprehensive FAQ section on the website
Pros and Cons of Trading with Plus500
Pros
- User-friendly proprietary platform
- Wide range of tradable instruments (2,800+)
- Competitive spreads and transparent fee structure
- Strong regulatory oversight
- Unlimited demo account
Cons
- Limited advanced analytical tools
- Educational resources could be more comprehensive
- No MT4/MT5 platform support
Conclusion
Plus500 stands out as a user-friendly and accessible CFD broker, offering a wide range of instruments and competitive trading conditions. Its proprietary platform, coupled with strong regulatory compliance and transparent pricing, makes it an attractive option for both novice and experienced traders.
While there’s room for improvement in educational resources and advanced analytical tools, Plus500 compensates with its intuitive platform, diverse instrument range, and solid reputation in the industry. Traders should carefully consider their needs and risk tolerance when choosing Plus500, and always be aware that CFD trading carries a high risk of losing money rapidly due to leverage.