Plus500 Review

Introduction

Plus500 is one of the most popular online brokers worldwide. It is licensed by the UK Financial Conduct Authority and is authorized to offer Contracts for Difference (CFDs) in the country. The service is offered for more than 2000 instruments, including a huge variety of currency pairs, which means you can basically use the company’s CFD service on almost every currency pair or other asset imaginable. Its CFD service is more suitable for experienced traders. Beginners are advised to train their trading skills in the company’s unlimited Demo account until they feel confident enough to trade for real money.

License

Plus500 UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909). Plus500 CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (License No. 250/14). Plus500AU Pty Ltd, AFSL #417727 issued by the Australian Securities and Investments Commission is authorized to issue these products to Australian residents.

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Free Demo Account

Platform

Plus 500 has its own proprietary trading platform. It comes in 3 different versions – the Windows trader, WebTrader and its mobile apps. The platform is reliable and easy to use. It offers real time graphs and tables and various risk management tools. Its most interesting feature is the all-inclusive interface, offering all information required in only one window. The Plus500 WebTrader platform doesn’t require any download and can be used online from any computer. Mobile apps are available for ios, android and windows devices and offer the same functionalities of the online platforms.

Click here for a detailed guide to the plus500 webtrader

Products

Plus500.co.uk offers contracts for difference (CFDs) on 50 currency pairs, which means that you can find a CFD on every major currency pair in the market. Additional asset types include indices, commodities, ETFs (Exchange Traded Funds), options and a huge variety of shares from the US, UK, Germany, France, Italy and many other markets. All in all the company offers more than 2000 instruments for CFD trading.

Demo Account

Demo account is available to download after registration. There are no limitations and you can practice your CFD trading skills and learn how to use the company’s trading platform for as long as you wish, using demo money.

Minimum Deposit

The minimum deposit to open a real money trading account is 100€.

Leverage

Leverage possibilities vary between the different asset types and are usually as follows:

  • Shares/stocks: 1:2
  • Forex: 1: 100
  • Indices: 1: 200
  • Commodities: 1: 100
  • ETFs: 1:20

Spreads

Spreads vary depending on the assets. Spreads start from as low as 2 pips, which is the spread for EURUSD - The most popular currency pair in the forex market.

Payment options

Customers have several options to deposit and withdraw their money, including Visa and MasterCard, Skrill (MoneyBookers), bank transfers and PayPal.

Bonuses

Welcome bonuses are available to first time customers who have never had an account with the company. For deposits of up to 500€ you receive a 30% bonus, while for higher deposits you receive a 20% bonus (up to 10,000€). A no deposit bonus of 25€ is also available. Minimum trading required for withdrawal. T&Cs Apply.

Customer Service

Customer support is available 24/7 and can be contacted via a contact form in the site.

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