We have to admit that the popular PLUS500 CFD trading platform was quite easy to test. At first glance, it is more than clear that this popular broker has made its trading platform very very easy for anyone who wants to get into the secrets of CFD trading of financial markets.
Table of Contents
Don’t signup before you read this Plus500 review!
- User friendliness 9 / 10 (very easy to navigate through the platform)
- 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
- Absence of more demanding technical analys software MetaTrader 4
- No VPS server
- More expensive than top market makers
- It does not provide any bonuses
- Not available for USA traders
CFD Service. 80.6% lose money
There are unfortunately no bonuses offered as of now.
Plus500UK Ltd authorized & regulated by the FCA #509909)
Plus500 Demo Account
Once you sign up, 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 $ 20,000 (virtual money) available, and you can use the demo account indefinitely.
What Trading Platforms Does Plus500 offer?
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.
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.
First deposit is at the moment $100. You can deposit money into your trading account either through your credit card or through a wire transfer; you can also use your PayPal or Skrill (MoneyBookers) account or you can use several other methods. First of all 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.
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).
Plus500 Review Conclusion: Rating 7 out of 10
The Plus500 was excellent during our test . This broker belongs among the most popular and is regulated by the most reputable regulatory bodies in the world which will ensure that in the case of any unexpected problems you have a strong independent partner on your side.
CFD Service. 80.6% lose money
Remember that CFDs are a leveraged product and can result in the loss of your entire deposit. Trading CFDs may not be suitable for you. Please ensure you fully understand the risks involved.