OPINIONS AND REVIEW OF EVERYTHING WHAT YOU WANTED TO KNOW ABOUT A POPULAR BROKER PLUS500
- Over 2000 CFDs for Shares, Commodities, Crypto, Forex and Indices
- No commissions for trading
- Tight spreads
- Trust of over one million clients
- Over 200 000 active clients in 2019
- Licence of the FCA, CySEC and ASIC
- Plus500 is traded on London Stock Exchange
- Very easy to use trading platform
- Signing up in several minutes
- No possibilities of automation or trading robots
- Limited options for professionals
- Social trading does not exist
- Inconvenient for scalping – scalping is prohibited at Plus500
Plus500 belongs to the most popular CFD brokers. Its easy to use platform offers great user experience. User gets oriented in platform quite easily and can start making trades within minutes. Simplicity of trading platform of Plus500 is a great advantage over some much more complex brokers where it can take days to get oriented in theirs sophisticated trading platforms.
Try it on demo account
Plus500 offers risk free, charge free demo account which behaves exactly as real account. Main difference is you do not risk your own money, you basically trade with virtual money. It is great for learning different trading orders, getting feel of platform response and so on.
Try trading at Plus500 with risk free demo account.
80.5% of retail CFD accounts lose money
Before starting to describe a CFD broker Plus500, I recommend you to look at a short video introducing Plus 500.
Remember that CFDs are risky financial derivatives, where financial leverage is used for trading. Plus500 is suitable for experienced traders, not for beginners. You should not trade with CFDs unless you have enough experience, since you might lose your capital. Never deposit more money than you can afford to lose.
Brief description of Plus500
Plus500 is a worldwide CFD trading service offering trading with CFDs with forex, shares, electronically tradable funds, crypto currencies, commodities and indices. You can chose from over 2000 CFDs covering financial assets from all over the world.
Opening a trading account at Plus500 is easy online process and free of charge. It will take you only a few minutes to fill all necessary info, upload personal documents for verification. Within one day (usually max few hours) your account is opened, fully verified and ready for depositing money. You can start trading with deposit as low as £100.
How I enjoy trading in Plus500
I first started trading in Plus500 long time ago back in 2009 when the market with online CFD brokers was still emerging.
I did not belong to the most experienced traders but I felt in love with Plus500 at first sight mostly due to its simple yet intuitive trading platform. No more wondering how can I send order or find list of tradable instruments.
Now is year 2020 and I still love Plus500 same way I used to back before. I still like very much that after logging in I can see a list of instruments that I can trade with.
Simplicity is the most valuable feature on Plus500 trading – I click on CFD I want to trade, I fill in amount I want my position to be and immediately I see how much money will go into this trade. I confirm it with one click and vioala, I am trading!
Regarding the fact that one can trade with more than two thousand instruments in Plus500, speed and simplicity of Plus500 trading platform is extraordinary.
Today I take as norm that when trading with CFDs Plus500 uses concept of margin trading or we can say use of financial leverage when opening trades. However, when I started trading I quite did not know what that leverage means.
Concept of financial leverage is that it is for example possible open 10 times as big trade as having own balance. Such situation leads to bigger profits when markets go in traders direction, as well bigger loses when going against trader. So beware of this.
Although I do not belong to great lovers of financial analysis and I rather try to trade based on short-term shocks in the supply/demand, experts of technical analysis can really enjoy Plus500.
Besides classical indicators such as floating averages, RSI, Stochastic, MACD, Bollinger bands, etc. there are tens of other settings and indicators in Plus500. Price graphs in Plus500 are very well readable and their setup is easy.
Why I also like Plus500 is because of the way I can manage my opened trades. I can easily set up take profit to collect profits when price reaches predefined level or cut loses using stop loss when markets does not go in my direction :).
Plus500 also offers an intelligent tool for protection of open positions, so-called Trailing stop, thanks to which profitable positions are automatically protected against loss if the trend turns. Thanks to these protective tools I don´t have “to sit at the markets” all the time and I still know that I will not suffer any surprising losses.
It is no secret that Plus500 does not charge any fees for its services but it is compensated from the difference between purchasing and selling price of the instrument so called spread.
Plus500 offers one of the lower spreads in the market of CFD brokers and for many CFDs it offers variable spread nowadays.
The last thing I would like to point out when writing this review about Plus500 is a safety of funds.
Clients money are held at separated accounts.
You can imagine how thrilled I am when trading at Plus500, so why dont you give this broker a spin?
Opening an account is fast, fully online process which takes you only a few minutes.
Main characteristics of Plus500
|Financial leverage||up to 1:30|
|CFD types for trading||shares, forex, commodities, indices, funds, bitcoins|
|Number of instruments for trading||more than 2 000|
|Type of the broker||CFD|
|Free demo account||YES|
|Options for money deposit and withdrawal||Visa, MasterCard, PayPal, Skrill, bank transfer|
|Duration of money withdrawal||1-3 working days, depending on the method of withdrawal|
|Application proposed for systems||Windows, Mac, iOS, Linux, Android, Web|
|Licence and regulation||Financial Conduct Authority, CySEC, ASIC|
|Number of active clients||more than 200 000 in 2019|
|Separation of clients´ money from company´s money||YES|
|Value of Plus500 according to market capitalization||more than £1 billion (April 2020)|
|Date of incorporation||2008|
* Terms and conditions apply
Strengths of Plus500
As has been already mentioned, Plus500 has really excellent trading platform suitable for even less experienced traders that will benefit from its clean design, simplicity and very good response times.
A big advantage is also a good quality and fast application for smart phones, so one can be at the market almost anywhere and anytime.
Speed is generally a strength of Plus500. Opening of a trading account is fast. Money depositing is fast. Display of current market prices of instruments is fast. Execution of placed orders is fast. Even a client´s support communicating is fast and even money withdrawals are fast, they take generally 1-3 working days.
Regulation is another reason why I consider Plus500 safe broker.
Plus500 is mothers company seated in Israel and has numerous subsidiaries for world wide clients. For UK traders there is subsidiary Plus500 UK regulated by a British supervisory authority FCA (Financial Conduct Authority).
Plus 500 also have another branches like Plus500 CY Ltd. for European traders and Plus500 AU PTY Ltd. for Australian traders and Plus500SG for Singapore.
Moreover, money of the clients are held absolutely separately from the money of the company;
The total value of the company Plus500 calculated as market cap fluctuates over £1 billion.
Weaknesses of Plus500
Nothing is perfect and that is also true in case of Plus500.
Plus500 is not the best choice for expert traders who are able to program their own trading robots. It is a pity. Spreads at Plus500 are relativelly low, often sub 1 pip for EUR/USD and a well-designed trading automat might profit well at such a markets. Therefore, if you are looking for a broker at whom you will use your automated trading system, you are unlikely to succeed with Plus500. Plus500 is for ordinary traders of “flesh and blood” not for robots.
Not to forget to mention Plus500 prohibits scalping that is considered as “majority of trades closed within 2 minutes from opening”. So if this is your trading plan, you should look elsewhere.
I would consider another weakness the fact that there is no possibility to connect more computers to control more markets at the same time as it is possible with some competing brokers.
On the other hand only professional traders trading 8 hours a day in expensive software such as Reuters Xtra3000 or Bloomberg will miss this possibility.
Plus500 bonus *
In past Plus500 offered bonuses to new clients but due to new regulations, European customers are no longer eligible to getting any bonuses from Plus500.
Clients from Australia can still earn bonuses at Plus500.
Experience with Plus500
In this part of the review I publish selected e-mails and comments from the discussion of Plus500-Review.net readers. It is done so always with author´s agreement.
Strength is in simplicity and this is absolutely true with Plus500. This simple and clear trading platform is popular worldwide as it brings its clients exactly what they expect from it.
Well designed intuitive trading environment, fast orders execution, affordable spreads, world class regulation and reputation of well known and established CFD broker traded at LSE.
Although I would like to give Plus500 the highest ranking, I cannot, as perfect things do not exists. There is always something to improve and several things could surely be found even with Plus500.
Therefore I give 9 stars out of 10.
Date of review 25.4.2020
Discussion about Plus500