Plus500 Review

This is brutally honest  review of Plus500.  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

Visit Plus500

Regulation & Safety

First of all, Plus500UK Ltd is a MiFID investment firm.

All deposits are kept at segregated bank accounts.

Plus500UK Ltd authorized si FCA regulated forex broker. #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 
• 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

Conclusion

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