Plus500 Review

Plus500

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Your capital is at risk – 80.6% 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.

Who are Plus500?

Plus500 is a CFD broker that was established back in 2008 and it is fully authorised by the Financial Conduct Authority in the UK, the Cyprus Securities and Exchange Commission in Cyprus and the Australian Securities and Investment Commission. It goes without saying that Plus500 is one of the top leading trading platforms and it is very popular for their proprietary and innovative tools where traders can choose from a very large selection of financial tools. Building an in-house platform was a very brave move and in this review we will tell if it does in fact deliver on promises.

How good is Plus500 Trading Platform?

The main thing that set Plus500 away from the competition is that they were able to build their own trading platform without the need of utilising a third party suppliers. Traders in Plus500 have different options as they can download the platform on their computer or they can use the web-based version (Web-Trader). If they are on the go they can also access their mobile apps. Every version has pretty much the same features and the interface it is very intuitive: they all look the same on the web, on the PC and on portable devices. Surely the best platform we have seen for those criteria.

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80.6% 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.

Design

Another reason why Plus500 trading platform is so well regarded is that they have managed to keep the design very clean and simple yet you are able to do everything you need and do it fast. They do have a massive range of trading instruments but all the sections are very easy to navigate to and orientating into Plus500. If you are looking for a no-frills trading experience that this is the platform that you should go for. Another top quality is that regardless if you are on the PC on your tablet or on your mobile the platform looks pretty much the same and also doesn’t take too much system resources so it does load very quickly and do not negatively affect your trading.

Plus500 Design

Disclaimer: Illustrative prices

What is the minimum deposit with Plus500?

You can start trading at Plus500 very easily as the minimum deposit to start an account is £100. This is a lot lower than the average online brokers out there and it is perfect for those traders that are starting to get involved in CFDs. If you are an experience trader it doesn’t really matter as you probably going to deposit an higher amount anyway.

What are Plus500 Tradable Assets?

This is most definitely one of the strongest points of Plus500. With this broker you have more than 2000 instruments at your fingerprints and this includes currency pairs, commodities, stocks, indices, ETFs and cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ripple. Having the opportunity to find the asset that you feel comfortable with will increase overtime the chances of making profit so it is very important to have this kind of instruments range.

What are Plus500’s spreads and fees?

Like the majority of brokers Plus500 do take a fee from the spread which is basically the difference between the buy and sell price of an instrument.

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What is Plus500 Withdrawals time?

One of the most important things for traders is liquidity and one of the top frustrations when dealing with a broker is if withdrawals times are delayed. With Plus500 you won’t have this problem as we have test them and they are handling withdrawal very fast with a standard time of around 3 days. This is another strong point in proving that we are dealing with reputable and solid trading platform as they are completely fulfilling their promise to give clients the money that they own in the shortest time possible.

Deposits and Withdrawals methods

Depositing into a Plus500 account is really simple as they do accept the majority of credit and debit cards plus they do use most common e-wallets like Skrill and Paypal. You can also do a wire transfer and generally both the deposit and withdrawal process is really easy and you have many options to choose from.

Who is Plus500 Customer Support?

Plus550 have a solid and qualified customer service it is very important. Ultimately the broker is your partner and the most honest and transparent it is the better would be for you. We have tested Plus500 customer support that can be contacted via email and live chat. Despite they do not allow phone support all the emails that we have sent to their mailbox were answered almost immediately with an average waiting time of 10 minutes. We can also say that the quality was very good as the responses from agents were honest and sincere and they didn’t try to use any marketing tactics at all during our interactions. This is surely the service we would expect and Plus500 score very high on this criteria.

What is Plus500 quoting accuracy?

The accuracy of the quotes coming from your trading platform is paramount. If the broker are showing you a certain price and then they shows a different one that is worse of the one they have showed initially than you are probably being scammed. Plus500 re-quotes are not common and their trading platform normally shows exactly the same price before and after the trading deal.

What is Plus500 reputation?

Plus500 is fully authorised by the Financial Conduct Authority and this goes long way in guaranteeing the reputation of this online broker. In order to get authorised by the FCA there are very strict guidelines to follow and Plus500 has been successful which means you dealing with a very reputable company.

Conclusion

Surely Plus500 is a unique broker and one of the most reputable out there. They have set a clear difference between themselves and others by developing a very stable platform that they can offer exclusively to their traders. The design is really good and intuitive and it allow to trade lots of instruments with very competitive spreads. Although they do not have phone support their customer service is extremely efficient and handles almost any customer issues and queries with speed and ease. It is not surprising to see that lots of competitor brokers are trying to mirror their business model as Plus500 is one of the most successful and credible brand in the industry. Highly recommended.

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Your capital is at risk – 80.6% 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.

Plus500 Key Information

  • Founded – 2008
  • Minimum Account size – £100
  • Minimum trade size – 0.5
  • Tradable assets – 2000+
  • Demo account – Unlimited
  • Regulated – FCA(UK), ASIC(Australia), CySEC(Cyprus)

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Your capital is at risk

PROS

tickUsed by 155,000+ traders

tickEstablished in 2008

tickRegulated by Financial Conduct Authority (FRN 509909) and Cyprus Securities and Exchange Commission (License No. 250/14)

tickMin. deposit from £100

CONS

ConsDoesn’t allow scalping (see alternatives)

ConsNo phone support although live chat and email replies are fast

(see alternatives)

General Fees

  • Plus500 does charge inactivity fees

Commissions

  • Plus500 doesn’t charge commission on CFD shares