Plus500 is an online trading platform that offers 2,800 Contracts for Difference (CFDs) on cryptos, indices, forex, commodities, shares, and ETFs. It was founded in 2008 and is headquartered in Israel, with additional offices in the UK, Cyprus, Australia, and Singapore. Plus500 is authorized and regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Australian Securities and Investments Commission (ASIC) in Australia. The platform is available in more than 50 countries and supports over 30 languages.
Is Plus500 Legit?
Plus500 is considered legitimate as it is authorized and regulated by several top-tier financial authorities, including the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).
Plus500 is also publicly traded on the London Stock Exchange, which provides additional transparency and accountability. The broker has been in operation since 2008 and has a large and established customer base.
However, it is worth noting that no broker is entirely risk-free, and traders should always do their own due diligence before depositing funds with any broker.
Market Instruments
Plus500 offers 2,800 CFDs, including:
Forex pairs major, minor, and exotic currency pairs
Stocks CFDs on stocks from various international markets
Indices CFDs on major stock indices like S&P 500, Nasdaq, FTSE 100, and more
Commodities CFDs on precious metals, energies, and agricultural products
Cryptocurrencies CFDs on popular digital currencies like Bitcoin, Ethereum, Litecoin, and more
Accounts
Plus500 offers two types of accounts: a live trading account and a demo account.
The live trading account requires a minimum deposit of $100 and provides access to real-time market prices and trading in over 2,800 instruments. Traders can use leverage of up to 1:30 for retail clients and up to 1:300 for professional clients. The live account offers various features such as stop loss, take profit, and guaranteed stop loss orders. There are no commissions charged on trades. Instead, the company earns money through the bid-ask spread.
The demo account is free and allows traders to practice trading using virtual funds with access to the same trading instruments as the live account. It is a great way for traders to learn how the platform works, practice trading strategies, and get familiar with trading instruments before investing real money. The demo account is available for unlimited time and can be used to test new trading strategies without the risk of losing real money.
Leverage
Plus500 offers leverage for different financial instruments. The maximum leverage offered depends on the instrument and the jurisdiction where the trader is located. In general, the leverage for forex trading can be up to 1:30 for retail clients in the European Union, and up to 1:300 for professional clients.
For other instruments, such as stocks, commodities, and cryptocurrencies, the leverage can vary between 1:5 and 1:30 for retail clients, and up to 1:300 for professional clients.
It’s important to note that higher leverage can amplify both profits and losses, and traders should use it with caution and proper risk management.
Spreads & Commissions
Plus500 offers floating spreads on all trading instruments, meaning the spreads can fluctuate based on market conditions. The spreads can start from as low as 0.5 pips for major currency pairs like EUR/USD. Plus500 does not charge any commission on trades, and their revenue comes solely from the spreads offered.
Trading Platforms
The Plus500 trading platform is an in-house developed web-based platform that can be accessed directly from the Plus500 website. The platform is user-friendly and intuitive, making it easy for traders to navigate and trade various financial instruments. It is also available in several languages.
The Plus500 trading platform offers several advanced features, including price alerts, real-time charts, and technical analysis tools. The platform also includes a demo account that traders can use to practice trading without risking any real money.
Education
Plus500 provides rich educational resources on their website, which includes trading academy, trader’s guide, beginner’s guide, webinars, ebook, FAQ, and news. The educational resources cover topics such as trading basics, technical analysis, and risk management.
