Plus500, the brand name of Plus500 Ltd, operates under four subsidiary companies including Singapore’s Plus500SG Pte Ltd, London, Plus500UK Ltd, Cyprus’s Plus500CY Ltd, and Australia’s Plus500AU Pty Ltd. Being a leading online CFD and Forex provider, Plus500 offers more than 2500 trading instruments to trade on its platform.
Plus500 UK Ltd is regulated by FCA with license number FRN 509909. Plus500CY Ltd is regulated and authorized by Cyprus Securities & Exchange Commission with license number 250/14. Plus500 AU Pty Ltd holds license number 417727 which is issued by Australian Securities and Investment Commission. It also is regulated by Authorized Financial Service Provider under license number 47546. And Plus500SG Pte Ltd is regulated under Monetary Authority of Singapore and hold license number CMS100648-1.
On Plus500, traders can select from two real account types. The minimum deposit for a standard account is $100 the maximum leverage for a standard account is 1:30 with no commissions and variable spreads. Plus500 also offers a professional account. To apply for the pro account, traders should have done 10 transactions in every quarter of the year either with Plus500 or any other broker and the total portfolio of the traders should be EURO 500,000. Professional account holders can avail benefits provided to the retail clients at no added costs, and they can trade with leverage of up to 1:300.
Plus500 also offers a free, unlimited demo account for the new traders to help them become familiar with the trading platforms and financial market. The registration process is very simple and straightforward. Traders can sign up by filling a form or login using Facebook or Gmail account.
Deposit And Withdrawal
Plus500 offers many deposit and withdrawal options. And there are no deposit or withdrawal fees. You can withdraw funds up to five times every month for free, and after that, a charge of $10 will apply. You can originate a withdrawal from your debit/credit card, e-wallet or personal bank account. The minimum transaction amount with debit/credit card should be $100, and with lesser than this amount, a charge of $10 will be applied. With bank transfer, the minimum deposit amount is $500, and a minimum withdrawal amount is $100. A withdrawal of less than $100 would be charged at $10 fee. The bank transfer process can take 5 to 7 business days. With PayPal or Skrill, deposits are processed instantly while withdrawal can take 3 to 7 business days and the minimum withdrawal amount is USD 50. If you withdraw lesser than that, a charge of $10 will incur.
The proprietary trading platform of Plus500 is user-friendly, fast, and efficient. It’s available in 32 different languages and many different formats including Windows 10 Trader, Web Trader, Android App, Windows Phone App, and iOS app. With the platform’s advanced charting option, you can add indicators, choose from various chart views like candlesticks and bar charts and also trade from charts directly, which provides forex signals. The Plus500 trading platform’s risk management features are a guaranteed stop, stop loss/stop limit/trailing stop, alert on price movement, change percentage and traders’ sentiments and free push and email notifications on the market events.
Plus500 has a two-factor authentication to prove the user’s identity during login. Confirmation code is sent to trader’s phone, email, or app directly to verify the identity. This code expires in just a few minutes. To keep trader’s funds safe and secure, Plus500 keeps all the funds in the segregated bank accounts. Traders funds aren’t used for hedging as Plus500 utilizes its funds for this purpose. In case of default with Plus500, the FSCS of UK will pay all traders with EURO 50,000.
When it comes to data protection, all the Plus500 platforms and websites are encrypted during their transmission. Traders sensitive data like debit/credit card details won’t be stolen or intercepted by cybercriminals.
Plus 500’s customer support is available in many different languages. However, there is no phone support, which is problematic for those who don’t have properly working Internet connection always. Other support, like live support and email support, are available 24/7. Their chat support staff is efficient and quick to respond.
Plus500 is an excellent online trading service provider for those who like getting benefitted of multiple trading instruments and low charges. But for expert traders, who make use of complicated charts, expert advisors and indicators, Plus500 won’t serve the purpose. Being in the brokerage business for over a decade, Plus500 boasts of nearly 317,000 clients from around the world. Their trading platforms are fast, secure, and user-friendly. Their platform can be utilized across many operating systems and devices for trading different assets. A huge minus for them is that no educational material is available. Moreover, no technical analysis and research material are offered. But traders can advantage from their risk management tools, zero commissions, and tight spreads.