Plus 500 Review: What makes Plus 500 stand out in a few words? Plus500 Ltd is listed on the London Stock Exchange Main Market. Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909). Spreads are tight as you would expect. There is an in-activity if the account isn’t used though. 76.4% of retail investor accounts lose money when trading CFDs with this provider.
Plus 500 Customer & Trader Reviews
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classic retail broker. possible to make a profit. personally would stay away
Had a decent experience with Plus500, using them for a few months recently. Good mobile and web apps. Good support.
The Plus500 company has an excellent reputation on the internet but the way a care agent works is very detestable. It is known as "traderprofesional" and what it does is that after making an initial deposit, it keeps half of the user's money for no specific reason. I recommend that you be alert with this scammer.
Anybody considering trading with this company read real customer reviews as opposed to reviews done by marketing affiliates. When a customer makes a profit , withdrawal can become a problem. At times on there platform an instrument becomes unavailable to trade this is supposedly due to low volume. These is done to their advantage and many customers have suffered losses because of this glitch. There spreads are also manipulated and usually increase in their favor during the course of a trade. Plus500 no more than a Casino and I would advise anybody considering them to think again before opening an account.
Response from Plus 500:
Plus500 is a fully regulated worldwide trading company which reflects the situation on the market directly. You are welcome to read more about the regulating bodies we are bound to on our website: https://www.plus500.com/FAQ/Regulators.
Our price is quoted with reference to the price of the relevant underlying financial instrument and its spread.
This price is obtained from a range of independent third party reference sources, various nominated independent financial market data providers, who source their price feeds from relevant exchanges.
Plus500 offers a fixed or dynamic spread for its instruments. The calculation of the Spread can be conducted by subtracting the sell price from the buy price of the instrument
In addition, our customers are eligible to open a withdrawal request for their available funds at any time.
Should you have any questions or require assistance, don't hesitate to contact our Support team, via chat or email - https://www.plus500.com/Help/ContactUs
Great customer service and a very honest and fair trader
- Trading Platform 4/5: nice and clear
- Customer Service 5/5
- Mobile Apps 4/5: doesn't give many options
- Spreads & Pricing 5/5
- Market Range 2/5: limited options in available forex
- Trade Execution Speed 5/5
- Added Value 5/5
(Trading forex weekly with PLUS 500 for under 1 year on a weekly basis)
Its been a great journey with this broker , they have been good to me with all their service , so i'm satisfied with their services and i learnt many thing with this broker
- Trading Platform 5/5
- Customer Service 5/5
- Mobile Apps 4/5 - They don't offer all indicators
- Spreads & Pricing 5/5
- Market Range 5/5
- Trade Execution Speed 5/5
- Added Value 5/5
(Trading forex and commodities with Plus 500 for between 1-2 years on a daily basis)
About Plus 500
Plus500 was founded in 2008, headquartered in Haifa, Israel its shares are quoted on the main list of the London Stock Exchange and it’s a member of the FTSE 250 index. The company is one of the largest brokers in the CFD and margin trading spaces.
What makes Plus 500 different?
Plus500 is an innovative and technology-focused business, for example, it launched its first mobile trading app back in 2011 and introduced CFDs on cryptocurrencies in 2013, as such it has a much lower headcount than many of its peers.
Why Choose Plus 500?
Plus500 offers access to more than 2800 different trading instruments on one platform, covering equities, indices, commodities, options, ETFs, cryptocurrencies and FX. They currently have more than 190,000 active customers (Q1 2020 data)
Pros and cons of Plus 500
|Pros of Plus 500||Plus 500 Cons|
|Proprietary Trading platform||No corporate accounts|
|2800 + instruments||Scalpers excluded|
|A good range of order types and few fees||Less than 20% of retail clients make money trading CFDs|
At the time of writing, Plus500 shares were trading at 1248p giving the company a market cap of £1.330 billion
Are there any other benefits of using Plus 500?
Plus500 offers several stop and stop-loss order types including guaranteed stop loses and stop or close at profit, the latter can be added to either open or pending trades.
Costs & charges
How does Plus 500 charge fees and what are they?
Plus500 does not charge trading fees apart from those levied on guaranteed stops in the form of a wider spread, However, it does charge funding fees on open positions held overnight.
Non - Trading Fees
There are no charges for deposits and withdrawals but Plus500 do charge for currency conversions.
How does Plus 500 make money?
Plus500 makes money by capturing the bid-offer spread on its client’s trading activity. Over 2019 it executed an average of 3.0 million customer trades per month and generated revenues of US$354.0 million.
Opening an account at Plus 500
How to open a Plus 500 Index account
There is a simple online application form where you provide an email and password. Or if you prefer, you can apply using your Google or Facebook credentials. Applicants will need to verify their account application by submitting (uploading) proof of identification and address documents such as a passport or photo driving license and utility bills or bank statements etc.
Documents are submitted through the verification section of the online platform
How long does it take to open a Plus 500 account?
An account can be opened in a matter of seconds verification takes a little longer but if you submit valid documents (ID, proof of address etc.) to Plus500 then they can turn them around within the hour.
Is there a minimum deposit for Plus 500?
Each method of the deposit has a minimum value for example with debit, credit cards and Paypal the minimum value is £100.00 or equivalents. The maximum deposit for these payment methods is £39,000.
How to get started trading or investing with Plus 500
Open, validate and fund an account with Plus500, then login into the Plus500 trading platform, select your instruments and you are ready to go.
How to add money to your Plus 500 account
Plus500 only accepts Visa and Mastercard credit cards.
Debit and Bank cards
One again only Visa and Mastercard are accepted.
Plus 500 accepts payments from PayPal
You can deposit money into your Plus500 account via a bank transfer. However, you will need to request the correct bank details to make the payment. You can do this on the trading platform by selecting Funds Management, Bank Transfer and email me the details.
How to withdraw your money from Plus 500
Customers request withdrawals using the withdrawal tab in the Funds Management section of the Plus500 trading platform, choose your method of withdrawal and the amount you wish to withdraw and submit or open your request you can also track the progress of withdrawal requests via the platform.
Trading Platforms & Mobile Apps
Plus500 has its own proprietary trading technology
What trading platforms does Plus 500 offer?
An in-house web-based platform with apps for mobile devices
Trading Platform Video Walkthrough
Access Plus 500 anywhere with their mobile app
The trading platform has apps for iOS, Android, Windows 10 and Windows mobile devices. The apps can be found in the respective app stores by searching Plus500. There is also a web trader for use in a browser. You will just need a stable high speed internet connection to access your trading account.
Test Plus 500 with a free demo account
There are free demo accounts which you can use to become familiar with the trading platform, order placement, market pricing charting tools etc.
Plus500 offers a good range of instruments and product types for CFD trading.
Access many markets with Plus 500
There are more than 2800 different trading instruments covering equities, indices, commodities, options, ETFs, cryptocurrencies and FX.
What is the maximum leverage Plus 500 offers?
In the UK and Europe, retail clients can access margins up to 30:1 in line with FCA and ESMA guidelines. Whilst professional clients can access leverage of 300:1 providing they meet certain strict criteria around finance, trading experience and activity.
Anytime trading and investing with Plus 500
You can trade FX markets 24/5 from Sunday evening through to Friday’s close in New York. However, hours for other instruments vary, for example, the UK FTSE 100 trades from 01:00 in the morning to 21:00, London time. See the instrument details section of the trading platform for trading hours information in individual instruments.
Choose products that suit you
Yes, there is a wide range of instruments and products on the platform, though there some gaps for example copper is absent.
Can you scalp with Plus 500?
No scalping is prohibited under Plus500’s user agreement
Can you make money trading with Plus 500?
It’s not impossible to make money trading at Plus500, but as always, it’s down the end client. That said, only slightly less than 20.0% of retail traders make money trading CFDs and Rolling Spot Forex, with Plus500, according to their regulatory disclosures at the time of writing.
What research does Plus 500 provide traders
Plus500 provides access to an economic and corporate events calendar.
There are a selection of educational videos and articles available at the Plus500 website.
Learn strategies with Plus 500 academy
There are guides such as building a commodity strategy, basic FX strategies and indicators, and to controlling and limiting risk within your trading.
How do I contact Plus 500?
Online via an email form simply click the 24/7 help button found towards the bottom of their website pages or click this link
Plus 500 phone numbers
Useful Plus 500 email addresses
Use this form to contact Plus500 customer support link
@Plus500 the Plus500 handle on Twitter
Plus500 on Facebook Plus500 on Instagram
Plus 500’s community & dedicated customer service
Dedicated 24/7 customer support is accessible using the links above