Plus 500 is a UK-based CFDs broker that commenced operations in 2008. Plus500 offers the trading of Forex trading via CFDs and other assets on its trading platforms. The unique selling proposition of this broker is the provision of a positive trading experience for its clients. Plus 500 is regulated in the UK by the Financial Conduit Authority (FCA).
Plus500 Trading Platforms
a) WebTrader is a totally web-based solution requiring only a username and password to login to the account to start trading.
b) Windows desktop trader is the downloadable version of the Plus 500 trading platform.
c) Smartphone apps for the iPhone, iPad and Android devices. These trading application apps are available on the respective app stores of the providers.
Sadly, MT4 users will be disappointed as there is no provision for this platform by Plus 500. All trading platforms used are proprietary in nature and are wholly developed by the Plus 500 team.
Plus500 Account Types
Traders on Plus 500 can operate two types of accounts:
a) The practice account is basically a demo account that allows traders to carry out simulated trading with virtual money.
b) The standard account is the live account type available on Plus 500.
Plus500 Special Features
The primary special feature on Plus 500 is the $20 no-deposit forex bonus, given to traders who open accounts from the link on the chosen affiliate website. Another special feature is the ability to interact with the broker and other traders on Facebook and other social media.
Traders also get the chance to trade on 51 listed assets, with the ability to practice on demo for an unlimited amount of time.
The Plus 500 website is available in 31 languages, and traders get to earn a 30% bonus on first-time deposits. A learning centre to teach the rudiments of forex trading is accessible from the Plus 500 website.
Plus500 Deposits and Withdrawals
The following transaction methods exist on Plus 500 for funding and withdrawal from the trading account:
a) Credit cards: The following cards are accepted: VISA, MasterCard and Maestro.
b) PayPal is an accepted method of transaction. Also allows traders to use their credit cards, with PayPal conducting third-party processing.
c) Skrill (formerly Moneybookers) is an e-payment solution that allows traders to use their credit cards, the Skrill e-wallet or any one of 99 other online payment methods to deposit and withdraw funds from the account.
d) Wire transfers are available for those who cannot use the three methods listed above.
The minimum deposit on Plus 500 is $US100. Traders are allowed a minimum trade size of 0.5 mini-lots or a trade size of 5,000 units of the currency the account is held in. The minimum spread is 2 pips, while leverage has to be held at 1:50 with a margin requirement of between 5 and 10%.
There are no deposit or withdrawal fees, and no limitations are placed on the amount that can be withdrawn and the frequency of withdrawals.
The Plus500 trading platform, Plus500 Windows Trader or Plus500 WebTrader (no download required), is a powerful, easy to use, CFD trading platform. You can place trades on the world’s most popular financial instruments from a single platform, including CFDs on:
Shares (including ASX share CFDs)
FX / Forex (great selection of currency pairs)
Indices (including ASX 200 index & major world indices)
Cryptocurrencies (including Bitcoin; Ethereum; Bitcoin Cash; Bitcoin Gold; Ripple; Litecoin; NEO and Monero);
exchange-traded Funds (ETFs).
Plus 500 can be reached in the following ways:
Physical Address: Plus500UK Ltd, 45 Moorfields | London EC2Y 9AE
Fax: +44 203 002 7290
Customer Support on Plus 500 is available 24 hours a day and five days a week via fax or email. A live chat facility is being worked on at the moment.