Our Plus 500 review covers everything from webtrader online trading platforms to mobile apps and fees. Whether you want to log in and trade Bitcoin, Ripple or Oil, or you need a demo account and details on the minimum deposit, we cover everything in this detailed review. Plus 500 is a leading online contract for the differential (CFD) trading platform, owned by a company called Plus 500 Limited. The company is listed on the London Stock Exchange’s Main Market (LON: PLUS). Operations through 3 different subsidiaries: • Plus 500 UK Limited, • Plus 500 CY Limited • Plus500AU Pty Ltd.
Making the brand synonymous with reliability and security. This is largely due to the fact that Plus 500 (or subsidiaries) are regulated in many different jurisdictions around the world. In addition to being regulated worldwide, Plus 500 is also an active sponsor of professional football and rugby teams. The firm has been the official sponsor of the club Atlético de Madrid since 2016. He also added Legia Warsaw and Atalanta to his list during 2020. Traders can earn a first deposit bonus of up to a maximum of $ 10,000 on their initial deposit. Additional benefits of up to 1: 300 are also available.
Regulation and reputation
Since its inception in 2008, the Plus 500 has earned a reputation among the online community merchants for being reliable and credible. The Plus 500 Limited is listed on the main market of the London Stock Exchange, which helps to maintain a broker’s reputation while being financially stable. In terms of regulatory oversight, the Plus 500 subsidiaries are regulated by several regulatory agencies: • Plus 500 UK Limited is authorized and regulated by the Financial Conduct Authority (FRN 509909). • Plus 500 CY Limited is authorized and regulated by the Cyprus Securities and Exchange Commission (license number 250/14). • Plus 500 AU Pty Ltd, ACN 153 301 681, AFSL # 417727, has been issued by the Australian Securities and Investment Commission which is authorized to issue these products to Australian residents. FRP #, derivatives issuers license in New Zealand. 486026 authorizes them to release these products to New Zealand residents.
• Plus 500 AU Pty Ltd, also an authorized financial services provider in South Africa, FSP 47546. The UK’s FCA is able to work with subsidiaries in Australia as regulated entities under ASIC and CySEC, plus 500 merchants in Australia, Europe and the UK. Customers can therefore avail the benefits of being protected under Financial Services Compensation Scheme (FSCS) and Investor Compensation Scheme. For full details of the security of these schemes, visit the website.
Although, the Plus 500 uses a proprietary trading platform, the trading platform (Webtrader) is able to meet the different needs of the broker’s international customer base, as it is available in many different versions. There is a desktop version of the trading platform that traders can download and install on their computers. Retail and professional accounts operate on the same platform. This creates pros and cons, but the platform performs well with advanced research tools next to the ability to execute trades in a user-friendly manner.
For those who want to trade directly from the Internet, there is a web-based version of the trading platform that can be accessed with any web browser. There is currently no integration with MT4. The key difference between the webtrader trading platforms and the platforms offered by other brokers in the industry is that the Plus 500 trading platforms work seamlessly with each other. Plus 500 mobile trading platform
A mobile version of the trading platform is also available for traders who wish to trade markets using only their smartphones or mobile devices. Provided free of charge, the mobile trading app can be downloaded directly from the Google Playstore or Apple App Store. The mobile app is fully functional, and provides all the trading options that the web-based version does. It is a single click download, and trading via the app is quick and easy. The look and feel between mobile and web based platforms are kept same, making the transition between the two easy.
Both Android and iOS versions all maintain the same trading fees, spreads and rates, etc., and any trading portfolio is maintained on all platforms.
Trading account Plus 500 has provided only one type of trading account, a standard trading account. A minimum deposit of $ 100 is required to open a standard trading account. During the recent system upgrade, the broker has upgraded the trading accounts of all its clients to gold account status. With this recent increase, existing account holders receive many benefits. However, they will be subject to a higher minimum trading volume. In addition to the standard trading account, Plus 500 has also provided a free unlimited demo account, which potential customers can use to test the performance of the trading platform and develop a trading strategy. Trading app platform compatible on Plus 500 Although there is only one trading account, there is a provision for traders to be classified as “professionals” rather than “retail” customers. There is an increase in profit (1: 300) and fewer restrictions on margins. The downside, however, is that regulatory protection for IS Pro’s accounts (eg negative balance protection) is low. Visit the website to apply, or see if you will be eligible for a professional account.
Bonus offers and promos
There are several bonus offers available to traders in the ASIC regulated sector. The size of the deposit bonus varies depending on the size of the first deposit – but can reach up to $ 10,000 AUD. On going to plus 500, go to the bonus code to see the bonus code which you will have to enter when making your first deposit. The terms of these bonuses include the requirement to deposit “TP points”. These are earned as your trade and once a certain amount has been deposited, the awarded bonus can be withdrawn as cash. Assets and investments vary by number of TP points, with full T&CS on the bonus page relevant to your area.
Assets and Instruments
Traders will be pleased to learn that there are over 2000 instruments to choose from to use CFDs. These underlying assets include major classes such as currency pairs, cryptocurrencies, commodities, ETFs, options and stocks. Available leverage is as high as 1: 300. Cryptocurrency leverage is capped at 1: 2 by the regulator, but assets such as Bitcoin, Ripple and Litcoin are all available to trade with tight spreads.
While support service is available 24/7 in Plus500, it is only available via email or live chat. So although their website is available in 32 different languages, there is no telephone support.
Deposit and withdrawal
The methods of payment and withdrawal available on the Plus 500 are Credit / Debit Card (Visa or Master Card), PayPal, Skrill (Moneybookers) or Bank Transfer. The minimum deposit is $ 100. Similar methods can be used to make deposits and withdrawals. For clearance, the processing time is 3 workdays. It should be noted that all withdrawal methods have a minimum amount limit and you can only withdraw through the method you initially used to make your deposit. There is currently no withdrawal fee on the Plus 500.
Is Plus 500 the best for day-trading?
Without a doubt, the Plus 500 operates with high efficiency and reliability. Their digital webtrader trading platform is proprietary and capable of executing trades quickly. In addition, you have a wide range of assets to choose from to trade. As a day trader, it is important that you can trade as many as you need within a short time frame. With the vast wealth index, you will be able to do just that, without difficulties. Furthermore, the fact that you can open and close a CFD position at any time during trading hours means that you can review and revise your positions and investment portfolio however you need to.