Plus500 Video Review
VIDEO Investor Protection & Regulation
“Plus500 has multiple regulations from different countries. These regulatory bodies impose stringent rules to ensure that investor funds are adequately protected. Regulation includes FCA, ASIC, CySEC and MAS”.
Plus500 is regulated by the following agencies:
“Over 2,500 trading instruments are available for trading on the Plus500 trading platforms across currencies, stocks, ETF’s, indices, commodities and cryptocurrencies”.
Some of the tradable assets on the Plus500 product suite are:
Pluss500 do not charge commissions. The charges are built into the spread. The spreads are generally low.
“Choose from 2 real account types on Plus500. Standard account minimum deposit is $100 and maximum leverage Is 1:30 with variable spreads and no commissions. Pro account leverage goes up to 1:300 and 10 transactions must have been performed per quarter over the course of one year to apply.“
Two real account types are provided. You will be prompted to choose between the Real Money mode and Demo mode on the platform.
This is the basic live trading account with a minimum deposit requirement of $100 and a maximum leverage of 1:30. The spread is variable and there are no commissions.
To apply for this account type, existing traders must have performed at least 10 transactions per quarter for the last one year. The trading activity can be with Plus500 or other brokers. Also, the total investment portfolio of the trader must be at up to EUR500,000. Professional account holders trade with a leverage up to 1:300 and also get the benefits offered to retail customers at no extra cost.
The demo account offered is free and unlimited. This is very necessary for new traders to familiarize themselves with the market and trading platforms offered. Registration is simple and easy. Clients are required to fill the short form or login with gmail or facebook account; in which case, no forms are required. Immediate access to the Plus500 webtrader is granted and demo trading can commence.
It is easy to upgrade from a demo account to a live account. All that is needed is to fill a more detailed form, verify the account and deposit funds.
Clients from USA, Canada, Cuba, Iran, Yemen, North Korea, Belgium, Iraq, Syria and Nigeria are not permitted to register and use the services of Plus500.
Deposit & Withdrawals options
“Plus500 offers swift and secure channels for deposits and withdrawals including debit/credit cards, bank transfer and e-wallets which include Paypal and Skrill. Conversion fees are passed on to the trader and there are some charges for withdrawals”.
There are various deposit and withdrawal methods available. Generally, there are no deposit and withdrawal charges. Withdrawal is free for up to 5 times in a month, after which it is charged at $10 per withdrawal. Every deposit must originate from a Plus500 account holder’s personal bank/card or e-wallet account. Third-party transfers are not acceptable but transfers from joint accounts can be accepted with supporting documentation. The following payment options are available:
Debit/Credit Cards: MasterCard and VISA debit/credit cards are accepted for deposits and withdrawals. The minimum transaction amount is $100. If a client chooses to withdraw a lesser amount, $10 will be charged. Withdrawal takes 1-3 days to complete.
Bank Transfer: This involves transfer between banks and it takes 5-7 business days for processing. The minimum deposit is $500 and minimum withdrawal amount is $100. Withdrawals lower than $100 is charged a fee of $10.
Paypal/Skrill: These e-wallet payments are accepted. Usually, the deposits are instantly processed. The minimum withdrawal amount is $50. If you withdraw less, $10 will be charged. It takes 3-7 business days for the withdrawal processing using either Paypal or Skrill.
Fees incurred by Plus500 as a result of currency conversion between banks are passed on to the client. So far, there have been no reports of loss of deposits with Plus500.
Web & Desktop Trading Platforms
“Trade with Plus500’s own simple and intuitive proprietary user interface. The platform comes in 32 languages and is available as WebTrader, Windows 10 version and as an Android, iPhone or iPad app.”
Plus500 offers a proprietary trading platform that is user friendly yet very efficient and swift. The platform is available in 32 languages.
The Plus500 platform is available in several formats: Web Trader, Windows 10 Trader, iPhone/iPad, Android app and Windows Phone app. It comes with advanced charting where you can add your own indicators, select different chart views like bar and candlestick charts, and trade directly from charts.
Risk management features include:
Stop Limit / Stop Loss / Trailing Stop
FREE email & push notifications on market events
Alerts on price movements, Change % & Traders’ Sentiments
You can test out all the features on the demo account and sign in through Facebook for simplicity and speed. The platform is extremely user friendly and simple to use.
Privacy & Security
“SSL encryption and 2FA secures the Plus500 platforms and website.”
When users register on the Plus500 platform, sensitive user data like identity cards, credit card details etc are collected. So, adequate security is important. Some of the security measures put in place by Plus500 includes:
To prove the identity of a user during login, Plus500 has implemented the 2-factor authentication (2FA). This involves confirmation code instantly sent to the user’s email, phone or app to verify identity. The code expires after a few minutes. This is in addition to the regular user id and password.
In compliance to regulatory policies, Plus500 keeps all client funds in segregated bank accounts. They further state that clients fund are not used for hedging but rather, Plus500 uses its own funds for that purpose. They also assert that they do not invest the funds of retail clients. In case Plus500 goes bankrupt, the Financial Services Compensation Scheme (FSCS) in the UK may pay each client up to £50,000.
In order to deter malwares, identity thieves and other cyber criminals, all Plus500 websites and platforms are protected using a Secured Socket Layer (SSL). This ensures that all data entered into the website or platforms are encrypted during transmission. Clients can be sure that their sensitive data such as credit card details will not be intercepted and stolen by cyber crackers.
Mobile Trading Platforms
“Plus500 offers its unique trading platform on mobile phones. The platform is available on Android, iOS and Windows phone. You can trade on the go, access push notification and manage your account“
Plus500 offers its unique trading platform on mobile phones. The platform is available on Android, iOS and Windows phone. The salient features available in the mobile app are:
Trading on the go.
Free email and push notifications on market events.
Alerts on percentage change and price movement.
Tracking of finances and linking of bank accounts.
“Plus500 platform has risk management features like guaranteed stop and trailing stop, alerts and push notifications and order fast order executions.”
Plus500 platform has the following features:
Guaranteed Stop: This feature can be used to stop a trading position at a defined price. This is usually done to prevent further loss. However, this feature is not available for every instrument.
Trailing Stop: This feature locks in the profits and closes the order when the market changes direction. But if the market is in a favorable direction, the order remains open. It basically limits the losses and takes the profits. The disadvantage here is that the closing price is not guaranteed.
“Close at Profit” and “Close at Loss” Price Levels
These features enable the trader to set the exact price at which a trade position should close in order to take profit or in order to limit loss. However, if the market suddenly drops or goes up at a price higher than the set level, slippage occurs and the closing price will not be accurate.
Plus500 trading platform features real time email, sms and push notifications based on price movements, change percentage and traders’ sentiments. These prices and percentages are predetermined by the trader. You can set an alert to be notified when a particular trading instrument reaches a specific price or when the price changes with a specific percentage. Traders’ sentiment gives an analysis on the trading activities of other Plus500 traders. You can get notified when the percentage of Plus500 traders buying or selling a particular instrument reaches a specified percentage.
Plus500 features customizable and easy to use charts for technical analysis. The charts can be saved.
There is also an advanced search. You can easily find any instrument under its category or simply start typing the name in the search bar.
Some other tools made available by Plus500 are:
Generally, maximum leverage obtainable is 1:30. Higher leverage is only for Professional account holders on some instruments.
Commissions & Spreads
“Tight spreads and no trading commissions.”
Plus500 features both fixed and dynamic spreads and do not charge commissions at all. Comprehensive information on spreads is not given. Here are the spreads on some selected instruments:
* The figures are according to the broker’s website at the time of writing this review
SPREAD ( % )
USO Oil Fund (ETF)
Bonus & Promotions
“No bonuses and promotions are available as a result of regulatory restrictions.”
There are no bonuses given to clients by Plus500. Also, there are no promotions or contests offered.
“Dedicated and Multilingual Customer Support available 24/7 through Live Chat, Contact form and a variety of social channels. Customer support is helpful and fast to respond.”
The Customer support on Plus500 is available in multiple languages. The website is available in 32 languages. There is no phone support. The support is available on a 24/7 basis. The channels are:
Live chat: This is available round the clock.
“Write to Us” form is available on the website for support especially for enquirers.
Social Media: Facebook.com/Plus500; twitter.com/Plus500; Instagram.com/Plus500 and plus.google.com/Plus500
The web chat assistants are very fast and efficient as it took just 15 seconds to respond to chats.
The social media channels are also active as updates are posted periodically. But there are not much responses or comments by clients on these channels. However support on these channels is fast and normally replied within a few hours.
“There are very few research tools on Plus500 apart from price alert notifications and an economic calendar.”
The platform provides charting tools though not as exhaustive as that of the MT4 and MT5 platforms. There is a comprehensive economic calendar on the website and portal. But, there are no market news or daily technical analysis. There are push notifications, real time emails and SMS market updates though.
“ Plus500 provides no form of Trader Education to clients. “
Unfortunately, the Plus500 website has no training videos, eBooks, training articles, webinars or any form of Educational material at all.
“ Plus500 simple platform provides a good experience for users. A huge selection of assets to trade, the platform comes with risk management tools and trading alerts are sent to the smartphone and by email“
The Plus500 trading service is good for simple traders who like take advantage of low charges and multiple trading instruments.
For expert traders who use complex charts, indicators, Expert Advisors etc; Plus500 will definitely not serve them well.
The offering is simple, however it does account for risk management tools and trading alerts are sent out each day by SMS and email.
Where is Plus500 based?
The Headquarters is in Israel but it operates through four subsidiaries in UK, Singapore, Australia and Cyprus.
How does Plus500 make money?
Plus500 makes money from spread charges. They do not charge commissions.
How do I deposit in Plus500 account?
Deposits can be made using bank wire transfer, Credit/debit cards (VISA, MasterCard), Paypal and Skrill.
What is the min. deposit for Plus500?
The minimum deposit required is $100.
What is the max leverage in Plus500?
The maximum leverage is 1:30 for the standard account; however the Professional accounts get a leverage of up to 1:300
How do I open an account with Plus500?
Click on “Start trading Now” button found at the bottom of every page on their website. Fill the online form or sign in with Google or facebook.
Does Plus500 use MetaTrader?
No, Plus500 only have their proprietary trading platform.
Plus500 has been in the brokerage business for a decade. They boast of 317,000 clients from all over the world. They are properly regulated in four different countries including Australia, UK and Cyprus. The trading platforms are simple, user-friendly, fast and secure. Platforms that can be used across multiple devices and operating systems are available for trading in various situations.
No educational materials are available, which is a huge minus. Furthermore, no research materials (else then the economic calendar) or technical analysis is provided.
2,000+ CFD products available for trading across global markets, including cryptocurrency CFDs
Offers guaranteed stop-loss orders
Multiple regulations from different countries. Regulation includes FCA, ASIC, CySEC and MAS.
Over 100 chart indicators are available in the web platform
Lack of content and news headlines
Lack of Trader Education to clients
No phone support offered