An Elaborate Plus 500 Review To Help You With Your Plus500 Forex Trading Account
- Regulated by FCA, CySEC, ASIC
- Multidevice Plus500 Trading Platform
- Large Bonuses
- No Demo Account
- Only a Single Account Offering
Plus500 is the most searched Forex broker in the world, with Google Trends signifying a massive spike in the popularity of Plus500 in recent years. Plus500 is popular across a broad spectrum of traders, and the company has been successful in marketing its brand as one of the leading businesses in the global financial markets. Plus500 currently serves more than 100,000 traders from different parts of the world and is one of the mainstream FX brokers that have an outstanding list of financial products from some of the world’s largest capital markets. Plus500 may be the only Forex broker that you may ever need, especially if you want to invest in a diverse range of financial instruments including shares, Forex, commodities, indices, CFDs, ETFs, and options.
Plus500 has formulated a rewarding affiliate strategy that has significantly contributed to increasing the exposure of the Plus500 Forex trading platform to all sectors of the financial industry. Plus500 also spends a considerable amount of money in advertising and brand exposure, which is further backed by an excellent customer service department for catering to client concerns in a professional manner. In this Plus500 broker review, you will get access to all the critical information about the company that should help you to determine whether a Plus500 account suits your trading requirements or not.
We Review Plus500 Regulation And The Protection Available For Your Trading Capital
Plus500 is a publicly traded company that is listed on the London Stock Exchange and is regulated by the Financial Conduct Authority (FCA) of the UK. Being primarily an Israel-based company, Plus500 has moved a chunk of its primary operations to the EU and has also set up a representative office in Cyprus under the watchful eyes of the Cypress Securities and Exchanges Commission (CySEC). Moreover, the broker is also regulated by the Australian Securities and Investments Commission (ASIC), which allows it to cater to the Asia-Pacific region using the excellent regulatory protection offered by the ASIC.
Plus500 began offering its services to Forex traders in 2008, and ever since, the company has had a mostly positive impact on the global Forex trading community. European regulators such as the FCA and the CySEC are carefully monitored by the ECB, which has issued an extensive set of MiFID derivatives for ensuring a safe and secure environment for investors. A robust EU regulatory status not only helps the broker to advertise itself as a serious broker in terms of regulatory licenses, but it also helps the company to offer its services across the European Union via the European Economic Area agreement.
Protection of client funds is at the core fundamentals of the regulatory framework that are created by the FCA, the CySEC, and the ASIC. All of these regulatory organizations are committed to ensuring the best in investor safety through proactive methods, which require the brokers to conform to numerous regulatory standards for maintaining the integrity of the financial markets. All three regulators are currently considered to be the top regulatory agencies in the world and are often considered as a benchmark for other leading and upcoming regulatory agencies from around the world.
Plus500 holds its customers’ trading capital in segregated accounts, which are always kept away from the broker’s core operating account. Regulatory guidelines stipulate that brokers are banned from using their clients’ money to meet the company’s debt obligations, for any other purposes other than to maintain a trader’s position in the market. Plus500 is bound by its regulatory licenses to submit a detailed audit report to the authorities to ensure that the broker does not indulge in any financial malpractices, which is carefully scrutinized and penalized by the agencies if the broker is found to have deviated from the regulatory norms.
Types Of Plus500 CFD Forex Trading Accounts
A Plus500 Forex account allows you to invest in more than 2000 different financial instruments, by using a nominal initial deposit of $100. There is only a single account offering, which is a market maker model that offer the different financial products as Contracts for Difference (CFD). The maximum Plus500 leverage does vary according to the financial instrument chosen by the trader, but expect Forex currency pairs to have a maximum leverage of 1:294. The leverage is quite acceptable, but traders may benefit from using a lower leverage, especially when investing in some of the volatile currency pairs in the market. The leverage is reduced to 1:20 for stock and indices trading, which is the maximum available leverage for such financial instruments across all leading brokers.
The main advantage of trading with a Plus500 CFD account is the competitive spread, immaterial of the market maker nature of trading. Plus500 spreads are quoted at 2 pips for major currency pairs, but we have seen the spread decreasing according to the volumes and market volatility. Overnight trades will attract a SWAP, but other than that, there are no additional costs or hidden fees for trading. Deposits and withdrawals may be made through traditional payment methods such as bank wires or credit/debit card transfers, but traders may also choose online payment wallets such as Skrill or Neteller. The minimum withdrawal amount is $100, provided that you satisfy all the bonus terms and conditions if you have received a bonus for your deposit.
Plus500 App Review For Desktop & Mobile Trading Platforms
Traders are treated to the company’s own Plus500 trading platform, which is developed by the company to incorporate all the financial products under a single roof. Unlike the standard MT4 terminal, the Plus500 app may be considered as an aesthetic and more functional alternative to the traditional trading interfaces. Plus500 apps are available as a desktop, mobile, and web trading interfaces, which gives access to a wide range of analytical tools and investment options for clients to trade on the move. Plus500 mobile apps are available as dedicated interfaces for iOS, Android, and Windows devices; however, the web trader interface should be able to provide unhindered account access across all devices and operating systems.
Although the Plus500 trading apps are excellent at investing in the markets, some traders might miss the option of the MT4 and its allied features. The Plus500 is designed more as a stand-alone interface and does not possess any auto trading functionalities or other PAMM features that modern traders have come to expect from large Forex brokers.
- Company Information
- Founded In: 2008
- Website: www.plus500.com
- Headquarters: Limassol, Cyprus
- Licences: FCA, CySEC, ASIC
- Phone Support: N/A
- Instruments: Forex, CFDs, Shares, Indices etc.
- Trading Features
- Welcome Bonus: N/A
- Max. Leverage: 1:300
- Min. Deposit: $100
- Trading Signals: No
- Mobile Trading: Yes
- Automated Trading: No
Promotional Offers & Plus500 Bonus
If you are satisfied with the broker’s CFD product offering, you can open an account and make a deposit to receive an instant Plus500 bonus of up to 30% on your initial deposit. The maximum amount of bonus is limited to $7,000, but it should be worth noting that smaller deposits may be eligible for larger bonuses. All money, including bonus, profits, and trading capital, may only be withdrawn or transferred after trading the required number of lots, failing which, the broker is free to put a freeze on your entire trading account. Therefore, before opting for a bonus always read through the bonus conditions carefully before investing.