Plus500 Broker Review

Plus500 clients are also covered by the Financial Services Compensation Scheme . This means that if a company becomes insolvent the FSCS may be able to pay compensation to its clients. Plus500 traders fall under the investments claim section, whereby the cover for UK-based clients is up to £85,000. You can contact customer support via 24/7 live chat, WhatsApp, and email. While there is no option to contact customer services via telephone, there is a convenient FAQs page featuring a wide range of relevant answers and information to the most commonly asked questions.

However, the provided economic and earnings calendars can prove useful. WebTrader offers three basic types of order, with the option of attaching either ‘take profit’ or ‘stop-loss’ orders to them. The trader Fiduciary can also choose guaranteed and trailing stop options when completing the order ticket. Plus500 has excellent customer support which can be reached at any time of day and night via the live chat or email.

Plus500 Broker Review

You can also attract additional fees when making both incoming and outgoing bank transfers into and out of your Plus500 trading account. Be prepared to pay the charges placed on your international credit cards if you are using one to fund your CFD trading account on Plus500. However, there is a caveat – Plus500 is not to be held liable for conversion rate differences. According to the broker, there are instances when the traders could incur fees when depositing money into their account and when transferring funds out of the same.

Moreover, Plus500 is a legitimate CFD broker with a transparent platform. To get you started, Benzinga’s put together a list of 10 high-return investments — with low, medium and high-risk options you can review. You can make fee-free deposits of at least €100 using Visa, MasterCard, PayPal, Skrill and bank transfer (€500+). All payments are protected by SSL encryption and funds are stored in segregated bank accounts. As we’ve already noted, withdrawals at Plus500 are free until the monthly limit is reached. “Popular Shares” gives you a quick overview of the biggest share options in the world.

The Company does not guarantee the order is executed at that exact price. Plus500 platform is easy to use, intuitive and well designed, which makes it a good choice. ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Venture capital Africa, FSP #47546. Plus500SEY Ltd is authorized and regulated by the Seychelles Financial Services Authority (Licence No. SD039). Plus500UK Ltd is authorized & regulated by the FCA (#509909). We tested it and collected the options and costs in How to withdraw money on Plus500.

A minimum deposit is the minimum amount of money required by Plus500 to open a new online brokerage account with them. We have checked and Plus500 is regulated and supervised by reputable organisations. You are able to check every Plus500 supervisory and regulatory body given below.

This has put it in a position to be able to produce well-crafted products to its many clients in terms of favorable trading conditions in the foreign exchange sector. This is to enhance the communication of all clients with interest in the product. Access to a wide range of trading instruments from cryptocurrencies, indices, commodities, and shares. Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework.

With the development of online investing platforms, it has become easier than ever to trade in the financial markets. The first step in starting your plus500 review trading career is to decide which brokerage you should use. They are online platforms that connect buyers and sellers to facilitate a transaction.

How Do I Cancel A Plus500 Account?

In which subsidiary you will be kept, will depend upon your location and every subsidiary is authorized and regulated by its standard regulatory body. For example, if you are residing in the United Kingdom, your account will be named “Plus500UK Ltd” and you will receive £85,000 as investor protection. Moreover, your subsidiary is authorized by FCA; the financial authority of the UK. It means, every subsidiary is regulated by its relevant country and all the operations are being performed under specific terms and conditions to fulfill users’ requirements. Plus500 was formed in 2008 and it is considered the oldest broker platform and since its start, it is offering quality services successfully.

Signing up is straightforward, and to start trading, you need to deposit at least $100. Funding the account is simple, with around 14 base currencies supported. Now I am passionate about reviewing and comparing forex brokers.

• The firm went public on the London Stock Exchange in 2013, and it joined the FTSE 250 index of leading mid-cap companies in 2008.
• If a market order is not fulfilled by your brokerage usually no commission is charged.
• Web wallets like Moneybookers, Skrill, and PayPall, are also supported.
• Let’s take a look at the five most popular asset classes they have available to trade.
• The firm is safe to trade but lacks many other aspects like customer support, research material, educational content, lack of transparency, and many charges, not mentioned clearly on the site.

This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card. If a clients trading account does not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Customer Support At Plus500

There is no time limit in terms of how long you can use the demo account. The company is mandated by law to keep client funds separate from the company’s own, so in the event of insolvency, assets and funds of its clients remain safe. Eightcap is a global online trading provider headquartered and regulated in Australia.

The company does not charge commissions on any client transactions, and the spread does not vary with trade size. They offer diverse quick and secure payment methods as well as trading accounts for their clients convenience. They provide transparent and fair financial services as well as fast execution orders and tight competitive spreads. Plus500 protects your cryptocurrency portfolio by using a wide range of Stop Loss features. It also offers Negative Balance Protection and protects the traders under the Financial Services Compensation Scheme .

These features are essential for help trading highly volatile financial instruments, such as cryptocurrencies. Using it for crypto trading means you get competitive spreads and zero commissions. Under these all-given results, Plus500 is focusing on those who are keen to take interest in trading without acquiring any additional or advanced functionality. Similarly, spreads provided by Plus500 are more engaging, competitive, having low costs, and easy to operate with full functionality. But there are some points where Plus500 is lacking behind e.g. lack of research and educational resources, users have to face difficulties and obstacles to move forward. Similarly, a low number of cryptocurrencies are offered on the platform and traders have to rely on given cryptocurrencies to trade and generate revenue.

The content in this Plus500 review does not apply to US users. I have tried using plus500 platform in demo mode.Its really usefull to me but I am not sure how long it take to transfer the profit I gain if in real account. Their stop loss is not working and it takes a lot of time to get orders through. Everytime something interesting is going on it is impossible to trade and when the orders come through it is to a total different price. It is strange that it is possible to cheat like that and still continue.

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If my only issue was support it wouldn’t bother me but apart from that i think i would wait and see what some more people say about this company. Just to answer few of the above queries, no 2 account can be opened from the same IP address with plus500. As you are in hostel may be someone else is using plus 500 so you couldnt open u r account. And other thing about WE CURRENTLY CANNOT ACCEPT TRADERS FROM YOUR COUNTRY , its because they are not available in every country so it has got nothing to do with their reliability.

Step 2: Account Verification

As compared, HFTrading and 101investing are excellent and affordable trading brokers. The firm doesn’t hold a banking license, and no negative balance protection is provided to the clients outside the EU. The ICF security, which offers insurance up to 20,000 euros for client funds, is limited to the EEA member and the UK and no protection is available to other country clients. The platform is extremely ideal for beginners in the CFD market because it includes most of the parameters that will help them understand CFD investing.

Desktop Trading Platform

Traders can learn how the platform works by using the demo account to practice trades, applying risk management strategies, and using analysis tools. If you already have a Plus500 demo account, you can open a real money account by clicking forex trading on the Real Money or the Real Money/Demo Mode switch button in the trading platform menu. You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account.

The material does not contain investment advice or an investment recommendation,or, an offer of or solicitation for, a transaction in any financial instrument. Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD’s, Forex and Commodities. As with most brokers, margin requirements do vary depending on the instruments. With Plus500, the minimum and maximum trade requirements vary depending on the trader and the instrument. Below we give an overview on the account types that Plus500 offer.

The website desktop platform is not available now on Windows 10. During a Plus500 review and testing, it was seen that the website version meets the needs of an advanced web app, which can, in turn, be installed as a Chrome app. This proves that in the future, the Plus500 trading platform will be more inclined towards the web browser than direct desktop trading. Further, algorithm trading and social copy-trading are not available on Plus500, and MetaTrader is not provided as the broker has a separate proprietary trading platform. The trading platforms offered are intuitive and easy to learn.