Plus500 is an Israeli firm that operates a CFD trading platform. Several years ago, the broker added cryptocurrencies to its list of tradable assets, enabling crypto-oriented investors to benefit from the price fluctuations Bitcoin and altcoins.
The company operates through several regulated subsidiaries, including in the UK, Cyprus, Singapore, Australia, and Bulgaria. Interestingly, Plus500 is listed on the London Stock Exchange, which suggests that the broker is transparent.
The brand is also known thanks to the company’s partnership with Spanish football club Atletico Madrid, which regularly plays in La Liga and European Champions League.
The total market capitalization of Plus500 is just above $700 million, down from the one billion mark recorded in 2014. The decline is due to the increasing regulatory pressure on contracts for differences (CFDs) aimed at retail investors.
The trading platform is offered by Plus500UK Ltd, a company regulated by the Financial Conduct Authority (FCA) and compliant to the rules of the European MiFID.
Plus500’s subsidiaries are also regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS).
76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Plus500 has one of the largest and most diversified lists of assets that we have seen with a CFD broker. The asset index can please any trader.
Cryptocurrency traders can choose from 13 tradable instruments that involve 11 coins, including Bitcoin, Ethereum, Ripple’s XRP, Litecoin, Bitcoin Cash (ABC), Stellar Lumens, Monero, Cardano, Tron, NEO, and EOS. All of the mentioned coins are traded against the US dollar, plus there is a BTC/ETH pair.
Apart from the crypto pairs, platform users can also trade the Crypto 10 Index, which tracks the performance of the ten largest coins weighted by market cap. The product enables Plus500 traders to benefit a diversified instrument that smoothes the wild volatility typical for most of the cryptocurrencies.
Note that trading Bitcoin and altcoins with Plus500 doesn’t involve the physical delivery of the coin, given that CFDs are derivative products. It means that you can’t own the coins you invest in but only speculate on the price movement.
Besides cryptocurrencies, Plus500 clients can trade the following instruments:
- More than 2,000 company shares, including stocks traded in the US, UK, Germany, Australia, Japan, Spain, Switzerland, Hong Kong, and many other countries.
- 22 commodities, including gold, silver, oil, copper, and agricultural commodities;
- 31 stock indexes;
- 71 foreign exchange pairs, including majors like EUR/USD, USD/GBP, and USD/JPY, among others;
- 86 exchange-traded funds (ETFs);
- Dozens of options, including on Facebook, Google, Apple, Tesla, DAX 30, CAC 40, and more;
Plus500 Account Types
Plus500 offers a single live account, which requires a minimum deposit of 100 USD or GBP. The standard account offers leverage up to 30:1. There is also the demo option, which allows traders to train their skills with virtual money.
Besides the standard account, there is also a professional account, which is aimed at advanced traders who can prove that they had performed no less than ten transactions per quarter for the last 12 months. The trading activity can be with Plus500 or other trading platforms.
Plus500 Platform and Fees
Plus500 doesn’t provide its trading services through popular platforms like MT4 or cTrader. Instead, the broker offers its proprietary platform that is available in more versions as follows:
- Windows 10 version (which can be downloaded);
- Plus500 WebTrader (which can be accessed from the browser);
- Mobile version (which is available with Android, iOS, and Windows mobile devices).
The platform is intuitive and allows traders to conduct advanced technical analysis. They can open multiple charts on the screen, trade manually, use stop and limit orders, and more. Users can benefit from relevant alerts and trading signals.
Plus500 offers some of the tightest spreads in the CFD industry, and there are zero fees for most of the services, such as deposits, real-time forex quotes, opening or closing trades, rolling positions, and more.
Deposit/withdrawal with Plus500
Plus500 offers a decent range of deposit and withdrawal options. The good news is that there is no payment fee and no limit on withdrawals. You can pick one of the following payment methods:
- Credit card (VISA or MasterCard) – while there is no minimum withdrawal limit, clients who chose to cash out less than $100 will have to pay a $10 fee.
- Online payment systems – PayPal and Skrill; the minimum amount for free withdrawals is $50. Otherwise, a $10 fee is charged.
- Bank wire transfer – again, there is a $10 fee for withdrawals of less than $100.
Plus500’s customer service is available in multiple languages, with the site itself being offered in 32 languages. While there is no phone channel to contact customer support assistants, traders can try the following communication methods:
- Live chat – it is available 24/7.
- There is a “Write to Us” form that can be accessed from the website. It is used primarily for enquirers.
- Social media channels like Facebook/Plus500, Instagram.com/Plus500, twitter.com/Plus500, and plus.google.com/Plus500.
Also, the website displays an extensive FAQ section that may be helpful in most of the situations.
Plus500 Pros and Conclusion
There are several things that we liked about this trading platform:
- A decent list of tradable cryptocurrencies and a huge list of company shares and other assets.
- An intuitive platform that can be accessed from all possible devices;
- The website is available in 32 languages;
- The company is regulated in several jurisdictions and is traded on the London Stock Exchange;
- Plus500UK Ltd authorized & regulated by the FCA (#509909).
- Plus500CY Ltd authorized & regulated by CySEC (#250/14).
- Plus500SG Pte Ltd, licensed by the MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2018).
- Plus500AU Pty Ltd (ACN 153301681), licensed by: ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546.
Plus500 is regarded as a conservative broker, which is actually good for retail traders who are often exposed to excessive risk. Our rating for Plus500 is 4.8 out of 5.00, given its reputation, user-friendly platform, and transparency.