Plus500 Review

MIN. DEPOSIT 200 BGN
Up to 294:1
50-10,000 BGN BONUS
0 Users (0 votes)
Odds0
Services0
Support0
Plus500
50-10,000 BGN
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Overview

Summary of site here. Great site! Look for more reviews soon.

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Details

BrokerPlus500
Website URLhttp://www.plus500.com/
Founded2008
HeadquartersLimassol, Cyprus
Support TypesLive Chat, E-mail
LanguagesEnglish, Malay, Czech, Danish, German, Estonian, Spanish, Greek, French, Croatian, Icelandic, Italian, Latvian, Lithuanian, Hungarian, Maltese, Dutch, Norwegian, Polish, Portuguese, Russian, Romanian, Slovene, Slovak, Finnish, Swedish, Turkish, Bulgarian, Hebrew, Taiwanese, Arabic, Chinese
Minimum 1st Deposit200 BGN
Bonus50-10,000 BGN
PayoutUp to 294:1
Free Demo AccountYes
Regulated Yes
RegulationCySEC; Financial Conduct Authority (FCA)
Deposit MethodsVisa, MasterCard, Maestro, Diners Club, PayPal, Skrill, Bank Transfer
Withdrawal MethodsVisa, MasterCard, Maestro, Diners Club, PayPal, Skrill, Bank Transfer
Types of AssetsShares, Forex, Commodities, ETFs, Options, Indices
Account CurrencyBGN
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Pros

  • Great design
  • easy trading

Cons

  • Poor services
  • bad support

Full Review

Company Information

Plus500 is an online trading broker with already seven years of experience in the industry. The company Plus500UK LTD was founded in 2008, and their platform was launched in 2009. This broker is famous for their CFD and Forex trading and is one of the most recognized names in the online trading business. They have offices in the UK and Cyprus and have been licensed by the FCA, ASIC, and CySEC. Such a highly regulated broker is always preferred by expert traders because it offers secure and stable trading experience. Since their unveiling, Plus500 have already earned some awards for innovation and excellent service. With over 1 million clients all over the world, their popularity is undoubted. Traders from 4 continents are using their services daily and have left countless good reviews about the service. With low spreads and over 2000 trading instruments, Plus500 is already one of the most reputable online brokers in the world. Ukraine is the only country where the Plus500 services are forbidden. But let’s have a more detail look at what they offer.

 

Trading Information

As we already mentioned, Plus500 offers some of the lowest spreads in the world. They are fixed and could go as low as two pips for individual markets. They are famous for their CFD trading but hey also offer Forex, gold, and silver, oil, indexes, stocks energies and spread betting. This makes almost a full list of the known and most used trading instruments. There are over 50 pairs of currencies offered which is way above the industry standard. Traders who like to have scalping and hedging as features will be disappointed to learn that they’re not allowed. Limit orders, trailing stops guaranteed stop loss are available along with mobile and email alerts. Automated trading, trading signals, and streaming news feeds are still missing but soon to be available. Leverages go from 1:20 (Forex) to 1:200 (Indices and Commodities) which is very competitive compared to other brokers. The “No Dealing Desk” feature makes execution much faster and hassle-free. Types of accounts are only two: Regular and Demo. The regular account has a minimum deposit of $100. Their demo account, however, is fascinating with its unlimited use feature which very rare for an online broker (usually there is one month or 3-month limit).

 

Trading Platforms

The trading platforms offered by Plus500 are designed to suit the needs of every modern trader.  Their Plus500 platform is preferred by many clients because of its simplicity. The regular Plus500 is very much like the most famous MT4. It needs downloading and installation and offers all the trading features and options required by the client. The mobile version of the Plus500 is suited for people who travel a lot and want to have access to their mobile devices. Last but not least, is their WebTrader platform that doesn’t need any additional downloads or installations and can be used as long as you have internet access and a regular browser. Many might think that the platform is lacking regarding information and news feeds, but it is very useful if you don’t want to be bothered by a constant flow of information. It’s a “like it” or “hate it” situation here but it does offer a very pleasant trading experience without sacrificing too much.

 

 

Security and Customer Services

The licenses that Plus500 has acquired by most major authorities are already proof that the company cares about legitimacy and security. The have the segregated account option and deposit the client’s fund into top tier banks. They have and SSL protocol on their “Register account” page which means your personal data is well protected. Customer support is flawless.  They offer 24/7 support for the clients which an improvement compared to competitors that offer only 24/5. The website is translated into more than 30 languages which make it very easy for clients that know only one language. Sadly, customer support is available only in English for now. Response times are very quick, and clients have reported an average of 30 minutes. You can contact the company’s representatives through email or on one of the phone numbers on their site. The lack of a live chat option is a bit surprising, but it seems they do a good job without it.

 

Deposits and Withdraws

Depositing money into your Plus500 account is easy, and you can choose from several banking methods. Credit and debit cards are available and usually are the fastest method along with digital wallets. Bank transfers are available, but are quite slow (processing times of up to 5 business days). The minimum deposit amount is $100, and the maximum is $100 000. Withdrawing funds from your account is also easy, but you’ll have to go through the verification process before you’re allowed to do that. They require photo ID documents like a passport, a driver’s license or another official document. Processing times are relatively quick but sometimes take up to 10 business days. It takes additional 24 hours for the withdrawal file to be reviewed.

 

Deposit Bonus and Loyalty Programs

Plus500 offers some of the best welcome and deposit bonuses in the industry. Their new client offers will give you a free $30 bonus just for making an account. To be able to withdraw this bonus you’ll require 60 trading points (TP). The deposit bonus offers go from $30 (for a $100 deposit) to $10 000 (for a $50 000 deposit). To get it you’ll have to use the bonus codes provided on their promotions page. Required trading points for the bonuses go from 50TP to 10 000 TP.

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