Unveiling a Comprehensive Trading Experience
Plus500 is a user-friendly Contracts for Difference (CFD) trading broker known for its global accessibility. Catering to a diverse user base worldwide, it provides a range of asset classes for trading on both mobile and desktop platforms. Renowned for tight spreads and transparent fee structures, Plus500 empowers traders to capitalize on dynamic global market trends.
CFD trading is risky. Losses may exceed invested capital.
Pros and Cons
Pros
- Global and regulated fintech platform
- 0% buy/sell commissions and tight spreads
- Advanced free-of-charge analytical trading tools
- Leveraged trading: Trade more for less capital
- Free and unlimited demo account
- Access to exclusive and valuable trading data with +Insights
- Fast and reliable order execution
- Fast and secure withdrawals
- Real-time quotes
Cons
- CFD traders do not own actual assets or gain shareholder rights
- Corporate or company trading accounts unavailable
Recommended For
Plus500 incorporates a wide selection of trading utilities that might be intimidating and difficult for beginner traders to comprehend, especially because they should only use tools like leverage with the utmost caution. The platform is better suited for veteran market participants who are more accustomed to applying advanced order types and margin, and also those who are familiar with markets such as cryptocurrency and options.
Beginners can still familiarize themselves with the application thanks to a demo account that does not expire, and they can also hide the more complex and advanced features.
Regulated By
- FMA in New Zealand
- Authorised Financial Services Provider in South Africa
- Australian Securities and Investments Commission (Australia)
- Cyprus Securities and Exchange Commission (Cyprus)
- The Financial Conduct Authority (United Kingdom)
- Monetary Authority of Singapore (Singapore)
- Plus500UK Ltd authorized & regulated by the FCA (#509909)
- Plus500CY Ltd authorized & regulated by CySEC (#250/14)
- Plus500SG Pte Ltd, licensed by the MAS (#CMS100648-1)
- Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039)
- Plus500AU Pty Ltd (ACN 153301681), licensed by: ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546. (You do not own or have any rights to Plus500’s underlying assets. Consider if you fall within this broker’s Target Market Distribution and view the Disclosure Documents on the Plus500 website).
- Plus500CA Ltd. (“Plus500CA”) is an investment dealer registered in all jurisdictions of Canada except Quebec. Contracts-for-Difference (CFDs) are available where Plus500CA is registered. In Alberta, our services are available to accredited investors only. Plus500CA is a member of the Canadian Investment Regulatory Organization and a member of the Canadian Investor Protection Fund.
Top Features
Variety of Assets:
All financial instruments represented and tradeable on Plus500 are CFDs. The platform hosts a large array of indices, currencies, commodities, shares, ETFs, options, and cryptocurrencies (availability subject to regulation) in a single accessible format. Plus500 also regularly adds new assets, catering to traders of all preferences and strategies. The number of assets available on Plus500’s platform is 2,800.
Flexible Order Types:
Plus500 offers a variety of order types, including market, limit and stop orders along with risk-management measures like take profit, trailing stop, and stop loss functionality. Though slippage may occur, you can pay a fee to open a Guaranteed Stop to ensure more precise execution.
Economic Calendar:
Plus500 offers an economic calendar which uses official Dow Jones data and lists upcoming market events and their results, easily filterable by the countries and reports most relevant to your trading tactics
News & Market Insights:
Plus500 publishes weekly articles about the market, and more information on this can be found at https://www.plus500.com/en/NewsAndMarketInsights.
Accessible Support Team:
Traders who need help using Plus500 or those with other questions and inquiries can get ahold of customer support in the language they prefer, and via email or live chat.
+Insights:
This desktop and mobile features allows users to learn more about market trends based on the company’s internal data. This exploration-driven tool includes an “Instruments +Insights” tab, which lets users dive deeper into each instrument’s data.
Overview
- Type of Broker Execution-Only, Non-Advisory
- Regulation and Licensing Plus500CA Ltd by the Canadian Investment Regulatory Organization (CIRO).
- Accepted Jurisdictions 50+ countries including Europe, UK, Singapore, Italy, Spain, Israel and more
- Assets Offered 2,800 CFD Instruments
- Platforms Available Web, Mobile
- Mobile Compatibility Yes (iOS and Android)
- Payment Types Credit and debit cards, bank transfers
Account Types
Plus500CA offers individual trader accounts, excluding the company or corporate accounts that can often be opened with some other CFD trading platforms. The most important metrics like your maximum deposit limit vary by country of origin and payment method, in order to be compliant in relevant jurisdictions.
Canadian traders can choose between a real trading account for live CFD trading and a demo account for practising strategies before committing real capital.
Trading and Investment Tools
- 24hr Trading: Yes
- Charting Package: Yes
- Streaming News Feed: No
Compliance & Regulation
Plus500 is regulated and licensed to operate by the appropriate securities authorities wherever necessary. At present, this list is comprised of entities like the Financial Conduct Authority (FCA) in the UK, Cyprus Securities and Exchange Commission (CySEC), and many more. Apart from its large presence in the markets, Plus500 Ltd is listed on the Main Market of the London Stock Exchange and has a spot in the FTSE 250 index. Part of its compliant status requires Plus500 traders to thoroughly verify themselves before depositing with a bank account or credit card, which includes uploading ID images, bank statements, and other personal details.
Fees & Commissions
- Rollover Fee: NO
- Margin Interest: NO
Pricing
Opening a Plus500 account is free in demo mode and gives users access to a zero-commission trading environment. The only costs you must account for are the spreads between bid and ask prices, which are clearly displayed in the trading platform when clicking on the information bubble next to the alert bill on a row listing an instrument. The window that appears after clicking the information bubble displays “Dynamic Spread” along with overnight swap costs for buy or sell positions. There may be some fees for Guaranteed Stop positions, account inactivity fees, overnight funding and currency conversion but otherwise the absence of commissions is a net positive for prospective clients.
Service Details
- Supported Languages: Arabic, Bulgarian, Chinese, Czech, Danish, Dutch, English, Estonian, Farsi, Finnish, French, Georgian, German, Greek, Hebrew, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Latvian, Malay, Polish, Portuguese, Romanian, Russian, Spanish, Swedish, Taiwanese, Thai, Turkish, Urdu, Vietnamese
- Customer Service Hours: Email support within 24/7
- Email Response Time: Up to 48 Hours
- Telephone Orders: No
- Personal Account Manager: No
Reliability & Security
Plus500 scores high on the reliability front, with constant uptime and a dependable experience on both mobile and web. If you do have issues, the company’s support team offers assistance through various channels and in 32 different languages. Credit payments protected by Secure Socket Layer (SSL) technology keep everything safe and anonymous.
User funds are safeguarded in segregated bank accounts that are separate from Plus500 operational funds. Moreover, accounts can be secured with two-factor authentication (2FA) to ensure accounts remain secure. In addition, Plus500 has obtained regulatory approval in all the regions it operates.
User Experience
Plus500’s clean design makes it easy to locate the right tools and a dashboard keeps users’ data accessible. However, Plus500 sacrifices some of the fundamental news and analysis features that can be found elsewhere. The Trade window lets you toggle between assets and pairs, and trades are opened directly from here, with all the extras such as leverage and stop loss or take profit tools in the same place.
Most tools are accessible on a basic sidebar menu, including account details, trading (charts and orders), funds (deposits and withdrawals), and open and closed positions. Indicators, charting types, and drawing tools are available directly from the chart window, although these features may take some time to discover. Other tools that benefit the user experience include a free demo account, which stays open in the same window and can be swapped with the live trading screen in a single click.
Final Thoughts
With a utilitarian interface that hides deep capabilities, Plus500 manages to provide a visually appealing trading experience that is matched by a zero-commission model. Platform clients will appreciate access to CFDs for instruments like cryptocurrencies, (Availability subject to regulation.) commodities, shares, and indices. Furthermore, users can put their strategies to the test with a demo account that won’t expire and is easily deployed side-by-side with the live trading dashboard. While Plus500 rejects the multi-account model in favor of individual accounts and has room for improvement in terms of access to educational resources and fundamental analysis, it’s deserving of its reputation as a powerful and accessible platform.
Contact Info
5200 Yonge Street, 2nd floor North York, ON M2N 5P6 Canada
FAQs
Q: Which documents do I need to verify my account?
A: Verification requirements vary depending on your country of origin and your payment method. To link a bank account, for example, you’ll need to upload images of your statement and government-issued ID. Credit card verification is similar, while Apple Pay and Google Pay offer an accelerated way to fund your account.
Q: What happens to my funds in the case of bankruptcy or insolvency?
A: Plus500 keeps all user funds secure in segregated bank accounts, which reinforces their safety and precludes the ability of Plus500 to access these funds in either case.
Q: My demo account is running out of money, what should I do?
A: Let the account balance drop below 200 EUR or the equivalent amount. It will be automatically replenished to the original balance. Plus500 users can self-adjust their demo account balance, allowing them to personalize their trading experience while using the Plus500 demo. This can better reflect the target volume of clients’ investments. In the near future, users will also be able to completely reset their demo account, including all history, so they can re-experience it over and over while executing different trading strategies.
Q: How do I avoid a margin call?
A: This service is free of charge and sent through public telecommunications, therefore Plus500 cannot guarantee that you will receive these notifications.
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