Plus500 Review 2023: Ideal Platform For Mobile Traders

It allows traders to review reasons why positions were closed, when they were opened and closed and the profit and loss of each trade. WebTrader is a closed system which is limiting for advanced traders who rely on third party analytics and automation tools in their trading strategy. These tools and other specialised tools are lacking in WebTrader, unlike MetaTrader 4 and 5 which has greater functionality.

Plus500 is also a publicly listed company in the UK and a constituent of the FTSE 250 Index. Since listing on the London Stock Exchange in July 2018, Plus500 has a plus500 forex review spotless regulatory track record. Plus500CY Ltd. is authorized & regulated by CySEC (#250/14). This means you have to do your research through third-party tools.

Plus500 Trading Education

You may have to wait a couple of hours for PayPal to process your withdrawal. Additionally, be prepared to wait for a few business days before the funds can be wired to your bank account. To deposit money into your account, please follow the steps below. The minimum deposit amount varies depending on your preferred payment option. For example, if you use a credit or debit card, you must deposit at least €100. We checked through the Plus500 website and found that the broker is committed to reducing user charges.

VPS is used for automated trading, which Plus500 does not currently offer. Plus500 does not currently offer automated trading, backtesting or copy trading capabilities. Leverage is often described as a ‘double-edged sword’ because it can amplify your profits and losses.

Who can open a Account?

Some standard research devices similar to recommendations, news feeds, fundamental information, are absent on the Plus 500 platform. Besides, bank transfer withdrawals are consistently 6 dollars. Exceptionally, inactivity charges are very high; following 3 months there is a 10 dollars quarterly charge. https://forex-review.net/ One of the major advantages is, the company is listed on the London Stock Exchange. It is considered as a safe broker because it is regulated with various regulatory bodies. Founded in 2008, Plus500 is a leading global broker with a solid reputation of being a trusted brand for CFD trading.

The broker is regulated by several financial authorities globally, including the UK’s FCA, and is listed on the London Stock Exchange. If you are not from the UK, you will most likely be served by regulators from other countries where different investor protection rules may apply. However, they lack the latest trading tools and features and offer just the basics. Also, copy trading is not provided, which are offered by several brokers in the market currently. Plus500 suggests its customers open a single trading account and the organization maintains the right to close other opened accounts. Even though Plus500 permits to add an account, customers will not be able to move assets between the accounts; the accounts would function separately.

Sign up with your email address, full name, and telephone number, and create a password. You can also skip this process by simply choosing to create an account with your existing Facebook or Google/Gmail account. Plus500 offers a wide selection of payment methods for you to choose from. These include but are not limited to PayPal, Visa, MasterCard, Skrill, iDEAL, Trustly, GiroPay, Bank wire transfer, Blik, MyBank, and Klarna. With that said, let’s dive into some of the cryptocurrency CFDs you can find on Plus500. However, there are still some drawbacks, such as a need for more quality educational resources and limited trading tools.

Plus500 Platform

Plus500 UK is one of the largest CFD brokers operating in UK that has consistently outperformed its competitors over the past several years. Plus500 is one of the pioneers in the industry that have a successful affiliate program that has helped the company to market its services to more than 100,000 active traders across the globe. Forex is a complex financial instrument and trading forex involves a high risk of losing money rapidly due to leverage.

Indices – There are currently 29 indices available to be traded with Plus500. Amongst them are some of the world’s most popular indices, such as the VIX and the UK100, and some more exotic indices like HUNG and BGCANG. The Plus500 mobile trading app currently has 4.3 stars ratings on both the iOS and Android app stores. Yes, Plus500 is a popular CFD broker and is regulated in many jurisdictions.

How to Open an Account With Plus500

The calendar also has unique features, for example showing a list of the trading instruments related to each economic release. For example, the tool shows that natural gas has been the instrument with the highest profit return from a trade over the past seven days among all traders worldwide. Traders can filter results by time, location, and instrument type.

• One of the reasons why this platform is unique is that it stays consistent in all versions.
• Let’s take a look at the five most popular asset classes they have available to trade.
• Plus500 also offers negative balance protection, which is mandated under ESMA rules that went into effect in 2018, ensuring that clients cannot lose more than they have put into their accounts.
• Traders may use guaranteed stop orders at Plus500, ensuring positions close at the price the trader specifies, irrelevant to market conditions.
• In other words, it is ideal for active traders but should not be considered low-risk.
• For example, you cannot use features such as automated trading with the help of experts or trading algorithms.

Plus500 does not charge commissions, except for a small number of CFDs on shares and a currency conversion fee per trade. There is also a fee for guaranteed stop-loss orders, which varies based on the size of the order and the instrument traded. A guaranteed stop-loss is a type of stop-loss order that ensures your position will be closed at a set price level. Spreads charged on more than 2,000 assets constitute the base of the revenues earned by Plus500.

This is because the trading platform is primarily a CFD platform. This means you merely speculate on the prices of the cryptocurrencies and do not own one. With just a few clicks, you can open and close CFD positions. First, launch the mobile app, choose an instrument and then select “Buy” or “Sell.” Next, choose the amount you want to open the position with and then execute the trade.

As a leading CFD broker, you might expect Plus500 to have a wide range of tradable assets, and it certainly delivers. The range of tradable instruments at Plus500 covers forex, commodities, indices, shares from multiple exchanges, exchange-traded funds , and cryptocurrencies. Plus500 goes beyond what is offered at most CFD brokers by also offering CFDs on options. Plus500 is a well-rounded broker that delivers in the areas of usability, customer service, and the variety of markets to trade. It is also one of the world’s most extensively regulated CFD brokers. Plus500 offers an excellent platform and unique tools, such as its +Insights section, which draws valuable data from its large community of clients.

These include trailing-stops and GSLO, which help in high-risk management by casual traders. Please note that by investing in and/or trading financial instruments, commodities and any other assets, you are taking a high degree of risk and you can lose all your deposited money. You should engage in any such activity only if you are fully aware of the relevant risks. BrokerChooser does not provide investment or any other advice, for further information please read our General Terms and Conditions. Plus500 also provides customizable charts where traders can conduct technical analysis on any of the instruments under trading consideration.

The platform has an easy-to-use interface where a trader can analyze charts, create watchlists, and monitor trades. An advantage of Plus500 is the absence of any ancillary fees on the usual withdrawals and account closing. The minimum deposit to open an account is 100 units of the selected base currency. Clients can fund an account through several options like e-wallets, bank transfers, and Visa or MasterCard debit or credit cards. CFD are complicated financial products, so you may end up losing more money than what you expected because of the leverage.

Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services. Please contact our customer support team in order for us to take a look at your case. In order for us to assist you further, I would like to ask you to contact our customer support team. I have used competitors sites and they too are good, they are faster to execute a trade but Plus 500 offers great user interface and little tools that make the difference.

IT’S TRADING

Unfortunately, there is no customer support phone number available for Plus500. You can select topics for your inquiry, such as account opening or funding, and support staff will respond to you via email. After you select a topic, you can provide an explanation of your problem. The full list of CFDs on cryptocurrencies can be found here. Once you have found your desired cryptocurrency, click on the “Buy” or “Sell” option.

Plus500 offers WebTrader which is a proprietary trading platform. It offers access to over financial instruments and quick navigation between different trading elements. WebTrader was developed on an exclusive-use basis for Plus500 clients and does not integrate with the popular MetaTrader 4. The broker company offers low trading fees, average non-trading fees and no fees on the first 5 withdrawals which makes it the best broker for the cost-conscious trader. Plus500 also offers some of the lowest spreads in the market. All demo accounts require a set amount of virtual currency funds to trade with when users first sign up.

Additional features like MT4, auto-trading, and expert advisors are not accessible. More experienced traders who want to enter and leave their trades physically may find the functionality tradeoff worth the lower costs. This language switch is intended to make the traders more comfortable and ensure a good trading experience. Moreover, traders can also ensure ‘Close at Profit’ or ‘Close at Loss’ value levels for exclusive instruments which can restrict the trader’s risk.

The company hedges its exposure with their parent company and acts as a principal. Plus500 is registered across Europe and the Asia-Pacific Region with trusted regulatory authorities. And the FCA’s client money rules, Plus 500 has to keep corporate funds and client funds in segregated accounts at regulated banks. Plus500 platform is easy to use, intuitive and well-designed.