Summarized Plus500 Review 2022 - Benefits and Drawbacks Revealed

Plus500 Review

Trading in the financial markets is now simpler than ever thanks to the emergence of internet investment platforms. The first step in beginning your trading profession is to choose which brokerage to utilize. Brokerages serve as our entry point into the financial system. They are online marketplaces that bring buyers and sellers together to execute a transaction.

Choosing the appropriate broker for you is critical since it affects everything from the fees you pay to the tools you have available while trading. With the increased interest in trading and investing, it is now more important than ever to create an account with a reliable broker.

This Plus500 review will look at one of the best brokerages available today and highlight the benefits and drawbacks of trading with them. Let's get this party started.

What exactly is Plus500？

Plus500 is a worldwide trading platform that provides a contract for difference trading services (CFDs). Plus500, being one of the world's biggest brokers, provides a diverse selection of goods to customers in over 50 countries worldwide. This Israel-based brokerage swiftly extended its activities across Europe and Asia-Pacific after its inception in 2008.

While no brokerage is perfect, Plus500 provides one of the finest overall brokerage services in the CFD trading industry today, with a wide product range, low prices, and a slew of features.

Pros

• The platform is simple to use, even for novices.

• Account opening is completed quickly.

• Excellent client service

Cons

• CFD products are the only ones that may be traded.

• Fees might be reduced.

Is Plus500 Secure？

People often discuss the risks associated with investing in the financial markets. Few highlight the risk involved with the brokerage with which you choose to trade. When it comes to picking a broker to trade with, safety should be your priority. You should always confirm that the brokerage is regulated by the financial body in your area.

Fortunately, Plus500 is regulated by some of the world's most reputable financial organizations, including the FCA in the United Kingdom and ASIC in Australia. These are two tier-1 regulators in charge of enforcing the highest possible standards in the financial services industry. This implies that, among other things, Plus500 provides biometric identification and negative balance protection for its mobile application. Clients will be paid under their jurisdiction's financial compensation procedures if Plus500 fails.

If you compare Plus500 to eToro, you will discover that Plus500 is licensed by several of the finest quality authorities while providing services in fewer countries than eToro. With so much oversight, scammers are essentially non-existent at Plus500.

Platform and Functions

Plus500's platform and features are available on a variety of platforms, including desktop and mobile. One of the most interesting parts of Plus500's platform is their online WebTrader, which is used for Plus500 online trading. WebTrader provides a simplified trading experience with an easy-to-use interface that is ideal for both rookie and expert traders.

Plus500 also allows you to trade cryptocurrencies, although as CFD products. An exchange wallet has now been included in the platform for this purpose.

Plus500 offers comparable software for download to customers who want to access their trading platform through mobile or tablet (iOS and Android). The Plus500 app has all of the same features as the desktop program.

New clients may effortlessly register an account, make a deposit, and begin trading all of the CFD products offered on the online platform through mobile.

Another wonderful feature is the Plus500 demo account, which is very useful for new traders. Clients may utilize a fully free demo account to try different trading methods before putting any real money at risk.

Plus500 is dedicated to the ongoing growth of its clients' trading abilities, particularly those of its most junior traders. To fulfill this goal, Plus500 provides a free sample account as well as training resources to assist the most inexperienced traders in their trading.

Finally, the platform has an in-built news feed and an economic calendar, allowing traders to stay up to date on the latest news and economic data releases without having to leave the site or depend on third-party software.

Unfortunately, the widely utilized MetaTrader 4 platform is not supported by Plus500. Clients will, however, continue to have access to high-quality technical analysis charts and a variety of technical indicators to help them with their trading.

Commissions and Fees

While it is not the cheapest brokerage on the market, Plus500 offers reasonable costs and does not impose commissions on transactions at the time of writing. The minimum deposit for Plus500 is now $100. The table below provides a more extensive breakdown of their pricing structure. All sums are shown in USD.

General Fees

• Opening/Closing Trades - $0

• Withdrawals/Deposits - $0 C

• urrency Conversion Fee - 0.7 %

• Monthly Inactivity Fee - $10

In addition to the fees mentioned above, Plus500 earns money via trading spreads. Spreads on Plus500 are either fixed or variable. We will be unable to give you particular spreads for certain of their products since they change during the trading day.

A second table showing spreads for some of their most popular goods is shown below. Please keep in mind that spreads are constantly subject to change, so check Plus500's website for the most up-to-date information.

Spreads

• EUR/AUD - $0.00025

• GBP/AUD - $0.00029

• AUD/USD - $0.0008

• US Stocks - 0.08

• UK Stocks - 0.08

• EU Stocks - 0.08

• ETFs - 0.20

• Ethereum - 7.19

• Bitcoin - 182.92

What kind of trades is available on Plus500？

With over 2500 instruments accessible for trading on the platform, Plus500 provides a diverse range of financial products. Let's take a look at the five most popular asset types they provide for trading.

• Stocks: With Plus500, you may trade stocks from some of the world's major marketplaces. They now provide traders with stock market access in 23 countries, including the United States, the United Kingdom, Germany, and Australia.

• Cryptocurrencies - You can trade some of the most popular cryptocurrencies with Plus500, including Bitcoin, Ripple, Ethereum, and Litecoin. Please keep in mind that you do not own the underlying asset while trading Plus500 Bitcoin CFDs or any other cryptocurrency CFDs.

• Indices - At the moment, Plus500 offers 29 indices for trading. Some of the world's most popular indices, such as the VIX and the UK100, are among them, as are some more exotic indexes, such as HUNG and BIGBANG.

• Plus500 offers all of the main currency pairings for trading. Over 70 currency pairings may be traded on their CFD platform in total.

How to Create an Account

Opening an account with Plus500 is a simple procedure that should take no more than one business day. To begin, go to their website.

On their main page, the “start trading now” button is located on the bottom left-hand side of the screen. When you click that, you should be brought to the Plus500 login page, where you may establish an account. You may sign up for an account using Facebook, Email, or your Apple ID.

After you've created an account, you'll need to fund it before you can start trading. You may do so by clicking on “Funds” in the bottom left-hand corner of your screen. As seen in the picture above, clicking this menu item gives you the ability to deposit and withdraw money.

Plus500 will ask you several questions about your trading and professional experience, as well as your financial history, before you may deposit cash into your account.

You will also be needed to follow different KYC laws, which will require you to authenticate your identity using your ID, address, and Tax ID Number. You will be able to begin putting money into your account after you have met these prerequisites.

Plus500 Crypto Trading Instructions

You are now ready to trade once you have financed your account. When you pick “Trade” in the top left-hand side menu, you will have access to all of Plus500's instruments. You may either use the search box at the top to find the instrument you want to trade or manually navigate through the list provided on the website.

Conclusion

To summarize, Plus500 gives you all of the tools and resources you need to launch a successful trading career. Their low costs, diverse product choices, and well-designed platform are appropriate for traders of all levels of expertise. If you found this Plus500 review helpful and want to learn more about the finest brokerages, visit our broker comparison page.