Welcome to Plus500 review! Plus500 CFD trading platform was quite easy to test. At first glance, it is more obvious that broker Plus500 has made its trading platform very very easy for anyone who wants to get into CFD trading . Is Plus500 a scam or not?
PROS:
- User friendliness (very easy to navigate through the platform)
- Easy deposits, multiple deposit methods
- Safe and regulated broker
- The platform is translated into 32 languages
- Negative balance protection
- Minimum deposit of only $100
- Possibility to trade CFDs on stocks, oil, gold and silver
CONS:
- Absence of more demanding technical analys software MetaTrader 4
- No VPS server
- Spreads are more expensive than the top forex brokers
- Not available for USA traders
Regulation & Safety
First of all, Plus500UK Ltd is a MiFID investment firm.
All deposits are kept at segregated bank accounts.
Plus500UK Ltd authorized & regulated by the british FCA #509909)
Review of Plus500 trading fees
Plus500 makes most of the money on spreads. Spread is a difference between Sell and Buy price.
Spreads are competitive when compared with the direct broker competition.
Plus500 Demo Account
you can choose between two modes.
The first is real money is needed and the second is a demo account.
If you choose to start with a demo account, you have up to $ 50,000 (virtual money) available, and you can use the demo account indefinitely.
Plus500 Trading Platforms
With regard to the business platform, you have a choice of three options:
- WebTrader – You do not have to download and install anything on your computer, you trade through your internet browser.
- Plus500 downloadable trading software that is installable on your computer
- Mobile Trading Apps for both your iPhone or Android.
Trading Instruments
Along with 50+ currency pairs (forex), you can also speculate on the rise / fall in the prices of the most popular stocks and commodities like gold, silver or oil.
All transactions are executed in the form of CFD Contracts (Contracts for difference). This means that you do not buy commodities directly, but in the form of CFDs (Contracts for Difference) derivatives that allow you to earn at the price difference, but without the subsequent physical delivery of the commodity.
Depositing Money into Plus500
First minimum deposit is at the moment $100.
You can deposit money into your trading account:
- VISA, MasterCard
- wire transfer; you can also use your
- PayPal
- Skrill (Neteller)
- local deposit methods depending on country
We deposited money using our VISA debit card and we also tried to fund the account using the PayPal account when testing this broker. In both cases, the transfer took place immediately without any issue, and the funds were credited to our trading platform essentially immediately. In approximately 25 minutes we had the Plus500 platform ready for trading.
Money withdrawal
We tested the withdrawal of money from the Plus500 platform back to the card , and the transfer was processed again without any problems and lasted 1 business day. However, it has to be said that in order to comply with strict FCA UK regulator guidelines, you will be asked to verify you account prior to withdrawing money. In practice it means you will have to submit a scanned ID card OR passport to proof your identity and a utility bill to as an address of residence proof (you may use electricity, mobile phone bill OR bank statement with blurred amounts).
Comparison of Plus500 with competition
Here is our eToro vs. Plus500 comparison
Our Plus500 review summary
The Plus500 is user oriented and very very intuitive CFD broker.
The whole Plus500 trading platform is phenomenaly easy to use!
Its main drawbacks are poor support and very basic yet good looking trading platform.
We think that Plus500 is definitely on par with the best CFD trading platforms like Etoro or XM.
Broker Details
 | |
|---|---|
| Broker's Score | 95% |
| Minimum deposit | $100 |
| EURUSD spread from | - |
| Languages | 32 |
| Regulation | Plus500UK Ltd authorized & regulated by the FCA #509909 |
| Metatrader 4 | No |
| Copytrading | No |
| Stocks | yes CFD on stocks |
| Gold, Silver | yes CFD |
| Agriculture commodities | yes CFD |
| Stock Indices | yes CFD |
| Risk disclaimer: Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80,5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. |