what is plus500

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Plus500 is a leading online broker that has attracted many users from across the world. Since its 2008 launch, the company has grown a lot.

For instance over 39 million positions were opened by traders last year, an incredible amount!

The broker is also fully regulated and compliant, so it is not a scam or fraud. They are regulated by CySEC in Europe and the FCA in the UK. Worldwide they are licenced in South Africa-FSP47546 and by ASIC in Australia, plus a few others.

We want to show you some of the most important info to know about the broker.

Let’s get started by taking a look at their products:

Plus500 Assets

what is plus500

The broker is well-known for offering CFDs and Forex trading.

Besides this, they also offer assets such as shares, commodities, options and cryptocurrencies. This is a great option if you’re looking to trade in a wide selection of products.

These assets are available to trade not only on the online platform, but also via the app. The mobile app is available for both Android or iPhone devices.

One great thing about using the app is that it come with price notifications and alerts. This is good if you want to focus on real-time price quotes.

Open Free Trading Account

*Your capital might be at risk

Plus500 Fees

The main attraction of Plus500 is that they don’t charge any commission fees. There is 0 commission! Instead the broker raises revenue through the bid/ask spreads of the assets that they have for trading.

Compared to other brokers in the market, the spreads are still very reasonable. You can view the set spread quote for each asset directly from your account.

The broker also doesn’t charge deposit or withdrawal fees. This is a great feature as it means you don’t have to calculate extra costs when making a withdrawal or deposit.

The only fees you may incur could come from bank transfers which are issued by your bank, not the broker.

Fees are only charged by Plus500 on ‘overnight funding’ positions and guaranteed stop orders. The broker will also charge an inactivity fee of $10 if you don’t log in to your account for over 3 months.

What is Plus500 Minimum Deposit?

The Minimum Deposit with Plus500 is just $100. Deposits can be made with either debit/credit card, bank/wire transfer or via Skrill/Neteller. If you wish to deposit the money in your local currency, contact the customer support to do this.

Open Free Trading Account

*Your capital might be at risk

Plus500 Platform

what is plus500

Plus500 has developed its own trading platform which has many features including analysis tools. There is also a free demo account option too. This is ideal if you want to test trading before using a real account.

The only downside to the platform is that it doesn’t come with other platform interfaces such as MetaTrader 4. If you’re a more experienced trader, this might be a bit limiting for you.

However, if you want a simple and data driven platform, it’s a good one to use.

Open Free Trading Account

*Your capital might be at risk

Plus500 Customer Support

The broker has a very good customer support team as mentioned on our Plus500 review here: https://tradingonlineguide.com/plus500-review/

You can reach them via email, online chat and WhatsApp.

When we contacted them via online chat, we reached a support member very quickly.

There is still no direct phone to call. So if you prefer talking on the phone this might be a downside.

However, with so many other options and general good service, there is an option to suit everyone.

Plus500 Strengths

  • No commission
  • Low Spreads
  • Great Customer Support

Plus500 Weaknesses

  • No direct phone for support
  • No MT4 platform interface

Open Free Trading Account

*Your capital might be at risk