Plus500

Understanding the types of accounts available is crucial for traders to choose the one that best suits their needs. Plus500 offers a selection of account types tailored to different levels of trading experience and requirements.

Description of Available Accounts:

Plus500 offers two primary account types:

• Retail Account: Suitable for most traders, providing access to all trading instruments, including CFDs on forex, indices, commodities, shares, ETFs, options, and cryptocurrencies.
• Professional Account: Designed for experienced traders who meet specific criteria, offering higher leverage and additional features.

Eligibility Criteria:

• Retail Account: Open to all traders who meet the minimum age requirement and successfully complete the KYC (Know Your Customer) verification process.
• Professional Account: To qualify, traders must meet at least two of the following criteria:
  1. Trading Experience: Conducted significant sized transactions on the relevant market at an average frequency of 10 per quarter over the previous four quarters.
  2. Portfolio Size: Financial instrument portfolio exceeding €500,000, including cash deposits and financial instruments.
  3. Professional Expertise: Worked in the financial sector for at least one year in a professional position requiring knowledge of the transactions or services envisaged.

Understanding the spreads is crucial for evaluating trading costs. Plus500 offers variable spreads across its range of instruments, providing competitive pricing to traders.

• Forex: Spreads from 0.6 pips on major pairs like EUR/USD.
• Indices: Competitive spreads; e.g., US 500 from 0.45 points.
• Commodities: Variable spreads; e.g., Gold from 0.29 points.
• Cryptocurrencies: Spreads vary depending on the crypto asset.

Trading conditions define the environment in which traders operate, including leverage, margin requirements, and minimum trade sizes. Understanding these conditions at Plus500 helps traders manage risk and plan their strategies effectively.

Leverage Details:

• Retail Account Leverage Limits:
  • Forex: Up to 1:30
  • Indices and Commodities: Up to 1:20
  • Shares and ETFs: Up to 1:5
  • Cryptocurrencies: Up to 1:2
  • Options: Up to 1:5
• Professional Account Leverage Limits:
  • Forex: Up to 1:300
  • Indices and Commodities: Up to 1:300
  • Shares and ETFs: Up to 1:20
  • Cryptocurrencies: Up to 1:20
  • Options: Up to 1:20

Note: Leverage ratios may vary depending on regional regulations.

Margin Requirements:

Margin requirements depend on the leverage and instrument traded. For example:

• Forex: With 1:30 leverage, the margin requirement is 3.33% of the trade size.
• Indices: At 1:20 leverage, the margin is 5% of the trade size.

Minimum Trade Sizes:

• Forex: Minimum trade size is typically 0.01 lots.
• Indices and Commodities: Varies by instrument; often starts from 1 contract.
• Shares and ETFs: Minimum of 1 share or ETF CFD.

Cryptocurrencies: Minimum trade sizes vary per cryptocurrency.

Navigating the deposit and withdrawal process efficiently is essential for a smooth trading experience. Plus500 offers multiple payment methods with varying processing times and limits, catering to traders’ diverse needs.

Processing Times:

• Deposits:
  • Credit/Debit Cards and E-Wallets: Instant to a few hours.
  • Bank Transfers: 1-3 business days.
• Withdrawals:
  • Processing Time: Typically processed within 1-3 business days.
  • Additional Bank Time: May take extra days depending on the payment provider.
  • Withdrawal fee: While most withdrawals are free, some conditions may apply. It’s best to check Plus500’s specific withdrawal policies for your region.

Limits:

• Minimum Deposit: $100 (may vary based on payment method and region).
• Minimum Withdrawal: Generally $50 for electronic methods, $100 for bank transfers.
• Maximum Limits: Dependent on payment method and account verification status.

Supported Currencies:

• USD, EUR, GBP, AUD, CHF, JPY, CAD, and others, depending on the user’s country.

Effective customer support is vital for addressing queries and resolving issues promptly. Plus500 provides multiple support channels to assist traders around the clock in various languages.

Support Channels:

• Live Chat: Available on the website and trading platform.
• Email Support: Contact form on the Plus500 website.
• WhatsApp Messaging: Offered in certain regions.

Availability:

• 24/7 Support: Customer service is available around the clock.

Response Times:

• Live Chat: Immediate assistance.
• Email: Responses typically within 24 hours.

Language Support:

English, Spanish, German, French, Italian, Portuguese, Arabic, Chinese, Russian, and more.

Educational resources empower traders by enhancing their market understanding and trading skills. While Plus500’s educational offerings are modest, they provide essential materials to support traders.

Learning Materials:

• Video Tutorials: Basic guides on platform usage.
• FAQ Section: Detailed answers to common queries.
• E-book: Introduction to CFDs and trading strategies.

Trading Tools and Resources:

• Economic Calendar: Updates on global economic events.
• Risk Management Tools: Stop loss, trailing stop, and guaranteed stop orders.

Real-Time Charts: With various technical indicators.

A trading platform’s features greatly influence the trading experience. Plus500’s proprietary platform offers a range of tools and customization options to cater to various trading styles.

Advanced Trading Tools:

• Technical Indicators: Access to a variety of indicators like Bollinger Bands, Moving Averages, and more.
• Customizable Interface: Adjust layouts, themes, and chart settings.
• Price Alerts and Notifications: Stay informed about market movements.

Automated Trading:

• Not Supported: Plus500 does not offer automated trading or API access.

Customization Options:

• Watchlists: Create personalized lists of preferred instruments.
• Interface Settings: Modify display preferences for a tailored experience.

With the increasing importance of trading on-the-go, Plus500’s mobile app aims to deliver a seamless experience comparable to its web platform.

App Features:

• Full Trading Capabilities: Open and close positions, set orders, and monitor markets.
• User-Friendly Design: Intuitive navigation optimized for mobile devices.
• Real-Time Updates: Live price feeds and instant notifications.

User Reviews:

• Positive Feedback: High ratings on App Store and Google Play for reliability and ease of use.
• User Comments: Praise for the app’s functionality mirroring the desktop platform.

Promotions and bonuses can enhance trading capital, especially for new traders. Plus500 offers region-specific promotions, particularly in Latin America.

Detailed Bonus Information:

• Latin American Bonuses: Plus500 may offer deposit bonuses or trading credits in certain Latin American countries.

Terms and Conditions:

• Eligibility: New clients who meet minimum deposit requirements.
• Bonus Conditions: Subject to trading volume requirements before withdrawal.
• Regulatory Compliance: Bonuses are provided in accordance with regional regulations.

Comparing Plus500 with other brokers helps traders understand its position in the market and identify its unique advantages.

Benchmarking:

• Fees: Competitive spreads with no commissions, compared to other CFD brokers.
• Platform: Proprietary platform versus MetaTrader offered by many competitors.
• Asset Range: Wide variety of CFDs but lacks options for investing in actual assets.

Unique Selling Points:

• Regulated Across Multiple Jurisdictions
• User-Friendly Platform

No Commissions Charged

Staying informed about a broker’s future plans can provide insights into its long-term viability and commitment to innovation.

Upcoming Features:

• Enhanced Tools: Potential introduction of new analytical tools and features.

Strategic Direction:

• Market Expansion: Plans to enter new markets and broaden asset offerings.

Accessibility features ensure that the platform is usable by a diverse range of traders, including those with specific needs.

Language Options:

• Platform and support are available in multiple languages, including:
  • English, Spanish, Portuguese, French, German, Italian, Dutch, Arabic, and others.

Disability Features:

• Accessibility Options: Limited information available; users may need to contact support for specifics.

Understanding the risks associated with trading and being aware of legal terms is essential for all traders.

Risk Warnings:

• High Risk of Loss: CFDs are complex instruments with a high risk of rapid capital loss due to leverage.
• Disclosure Statements: Clear warnings provided on the website and during account opening.

Legal Information:

• Terms and Conditions: Accessible via the website.
• Privacy Policy: Outlines data handling and user rights.

Risk Warning: Trading CFDs involves significant risk of loss. Between 74-89% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.