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“82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money”
tradingcritique.com gives you the updated Plus 500 Broker review for the year 2023. Plus 500 is a CFD Broker providing a good number of financial instruments to trade-in. To know about the detailed product guide of Plus 500 along with its regulations read further.
Plus500 has started its journey in 2008. Plus500 Ltd, the headquarters company is based in Israel. Plus 500 subsidiaries are present in the United Kingdom, the United States, Australia, Cyprus, Israel, Singapore, and Seychelles. The company is also listed on the London Stock Exchange with the ticker PLUS. It is a constituent of the FTSE 250 Index in the Investment Banking and Broking Sector under the Investment Services subsector.
Plus500 Ltd is a fast-growing online provider of Contracts for Difference (CFD). It developed and operates an online trading platform for individual customers to trade CFDs internationally. Overall, it provides more than 2,200 different underlying global financial instruments. The instruments include equities, indices, commodities, options, Exchange-Traded Funds (ETF), cryptocurrencies, and foreign exchange to trade using CFDs.
Image 1: Home Page of Plus500 website
Image Copyrights reserved to Plus500
Plus500 provides a free demo account that is available on an unlimited basis for the platform users.
Retail traders from over 50 countries are allowed to trade using CFDs in Plus500 with accessibility to 32 languages. A key point to note here is the 24/7 customer service.
82% of retail CFD accounts lose money
| Country | Company name | Registration details | Regulations |
|---|---|---|---|
Cyprus | Plus500CY Ltd | Licence Number – 250/14. | |
United Kingdom | Plus500UK Ltd | Licence Number – FRN 509909 | |
Seychelles | Plus500SEY Ltd | Licence Number – SD039 | |
Singapore | Plus500SG Pte Ltd | Licence Number – CMS100648-1 | |
Australia | Plus500AU Pty Ltd | Australian Financial Services Licence (AFSL) – 486026 | |
Australia | Plus500AU Pty Ltd | Authorised Financial Services Provider (AFSP) Number – 47546 | |
Australia | Plus500AU Pty Ltd | FSP Number – 486026 |
Plus500 offers 2000+ tradable instruments for CFD trading. Assets like Indices, Forex, Shares, Crypto, Commodities, Options, and ETFs are available in Plus 500 to trade-in CFD.
Table 2 : Different types of trading instruments available in Plus500 to trade explained with their features
| Instrument types | Features to trade in Plus500 | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Crypto |  | CFD trading in Cryptocurrencies with Leverage | |||||||||||||||||||||
| Leverage 1:2 | ||||||||||||||||||||||
| |||||||||||||||||||||||
| Available to trade 24/7 | ||||||||||||||||||||||
| No need for any Cryptocurrency exchange account or wallet. | ||||||||||||||||||||||
| Indices | | CFD trading on stock Indices with leverage | |||||||||||||||||||||
| Leverage 1:20 | ||||||||||||||||||||||
| Free Real-time streaming quotes on all Indices | ||||||||||||||||||||||
| Free Price alerts and notifications on live quotes | ||||||||||||||||||||||
| Forex | | Forex CFD trading with leverage | |||||||||||||||||||||
| Leverage 1:30 | ||||||||||||||||||||||
| 60+ Forex Pairs | ||||||||||||||||||||||
| Commodities | | Commodities CFD trading with leverage | |||||||||||||||||||||
| Leverage 1:20 | ||||||||||||||||||||||
| Gold, Silver, Oil, Copper, Corn, etc are available to trade | ||||||||||||||||||||||
| Shares | | Stocks/Shares/Equity CFD trading with leverage | |||||||||||||||||||||
| Leverage 1:5 | ||||||||||||||||||||||
| Shares of various stock exchanges from across the globe such as the USA, the UK, Germany, etc are available to trade | ||||||||||||||||||||||
| Advanced trading tools available to control your profits and losses | ||||||||||||||||||||||
| Options | | CFD Options trading with Leverage | |||||||||||||||||||||
| Leverage 1:5 | ||||||||||||||||||||||
| Instruments like Oil, Facebook, Germany 30, Apple, Tesla, Amazon, etc., are available with Call and Put options | ||||||||||||||||||||||
| ETF | | ETFs CFD trading with Leverage | |||||||||||||||||||||
| Leverage 1:5 | ||||||||||||||||||||||
| Set Free Stops and Limits on your positions to control your Profits and Losses | ||||||||||||||||||||||
| Trade-in SPDRUSA500, VXX Volatility, GLD Gold, etc. | ||||||||||||||||||||||
Image Copyrights reserved to Plus500
Plus500 provides Web trading and Mobile trading platforms. They serve two different types of accounts on the same platform. Plus 500 creates and designs the trading platform on its own. They do not use the best build platforms like MetaTrader (MT4), MetaTrader 5 (MT5), C-Trader, etc. It would have been an added plus point if they also have accessibility to these platforms as the customer can choose from the platform they are comfortable trading with.
Plus500’s Web Trading has a comfortable user interface that is simple and easy. You can create tracking lists, analyze charts, and track trades in the web trading platform.
There are about 100 technical indicators in Technical analysis charts. You can use those for many different periods, from tick charts to weekly charts. The user interface of the Web trading platform is so familiar to well-known traders. Hence can be understood and practised easily.
Image 3: WebTrading Platform of Plus500
Image Copyrights reserved to Plus500
Plus 500 web trading platform has about 2,000 tools. Choose and use the tools in your customizable technical analysis chart. You have the feasibility to place your trades in a single click.
According to our opinion, it would be very useful to the customers if Plus500 has an option to trade in the MT4 and MT5 platforms as well.
The mobile version of the trading platform is available for traders who like to trade markets using their Smartphones or Tablets. It is available for download in both the Google play store and Apple App Store. All the features in the web-based version of Plus 500 are also available in the mobile version. The Plus500 mobile trading platform will also be identical to that of the web-based platform.
Plus500 offers three types of live trading accounts, namely,
Professional Clients have both Demo and Real Money accounts. Let us see about the features of these three account types in the below sections.
The Real Money Account is for the Retail traders. Plus500 has different websites for different countries under its respective regulations. Therefore, Plus500 has different websites for Cyprus, Australia, the United Kingdom, Singapore, and Seychelles. The Retail account is available on all the above-mentioned Plus500 websites.
Real Money Account are for individuals they follow all the regulations of CySEC, FSCA, FMA, ASIC, and FCA properly. The client’s money is held in different segregated accounts separately from the company funds, hence your money invested can never become insolvent. Check the image below for more details.
Image 4 : Different Plus500 account types available in various countries
Image Copyrights reserved to Plus500
82% of retail CFD accounts lose money
Plus500 Professional account is available only on the Plus500 websites of Cyprus, Australia and the United Kingdom. It is not available on the Singapore and Seychelles Plus 500 websites.
There are significant chances of losing money under a Professional account as there is less protection. Please invest in Professional trades only if you are an experienced trader or else if you are less experienced stick with the retail account.
As this account is for professional traders it does not have strict restrictions that are followed in the retail account. Basically, the Professional accounts have high leverage than the retail account and do not offer Negative balance protection. But Plus 500 claims to provide most of the protection available in the retail account.
Image 5: Features provided by Plus500 to Professional traders
Image Copyrights reserved to Plus500
Image 6: Eligibility for starting a professional account in Plus500
Image Copyrights reserved to Plus500
Plus500 provides a free demo account for their customers. It helps customers to learn how to trade and how to handle the Plus 500 trading platform. and you are not required to be an expert trader to join this account. Due to the risks involved, beginners must use the demo account and the Trading Academy to gain experience before trading with real capital.
Image 7: Demo account in Plus500.
Image Copyrights reserved to Plus500
Image 8: Switch over from demo account to real money account anytime in Plus500
Image Copyrights reserved to Plus500
Plus500 minimum deposit amount is $100. The maximum leverage is 1:30. The deposit amount is changeable by Plus500. You can deposit different base currencies such as USD, GBP, EUR, CHF, AUD, JPY, PLN, HUF, CZK, CAD, TRY, SEK, NOK, and SGD. This helps the traders to have their investment in their desired currency.
The default account currency is based on the country of your residence. If you want to change base currency, you need to contact support. Plus500 charges no deposit fees.
The e-wallet option is available depending on your region. A bank transfer takes several business days to reflect in your plus500 account. At the same time, payment with a credit/debit card and electronic wallets is an instant process. The account must be in your name for you to deposit money in Plus500.
Plus500 charges the following fees – Overnight Funding, Currency Conversion Fee, Guaranteed Stop Order, and Inactivity Fee. More information you can find via Plus500 help center.
Here withdrawals are made through Electronic wallets, Bank transfers, Credit/debit cards,
Image 9: Withdrawal process in Plus500
Image Copyrights reserved to Plus500
Plus500 use 32 languages to serve their customers. Clients have access to customer support 24/7 via live chat or Email, and WhatsApp, whereas most of the brokers only offer support 24/5. There is an FAQ section that covers the most basic questions. They also give customers all the information they need on the FAQ page.
Image 10: Customer support with FAQs in Plus500
Image Copyrights reserved to Plus500
Plus500 educated well about trading by offering great tools like a Demo account, Trading platform tutorial, News, Market Insights, and Educational videos. Trading section of the website contains Educational videos and channels.
Plus500 News and Market Insights provide a lot of tags, such as Citigroup, Bank Of America, Wells Fargo, General Dynamics, Boeing, Virgin Galactic, U.S. Dollar Index, Wheat, Corn, Costco, Nvidia, Home Depot, Walmart, Bumble, etc. These tags related videos and articles are available in that section.
Plus500 trading guide helps to how to trade with Plus500. Nearly 9 videos are available here. You can learn what is CFD Trading? How to Trade With Plus500? What are Options? What are Trading Alerts? etc., from this trade guide section.
Image 11: Trading Guide in Plus500
Image Copyrights reserved to Plus500
82% of retail CFD accounts lose money
“82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money”
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