This was also the year that Plus500 added ETFs to its trading portfolio. The same years as its founding, Plus500 Group launched its online trading platform that was PC-based. By trading with a regulated company, such as Plus500, clients know that they trade using a reputable and reliable platform within an environment that is regulated.
- Plus500UK Ltd., a U.K.-based company with its offices located in the City of London, is authorized and regulated by the Financial Conduct Authority (FCA #509909).
- However, there is a caveat – Plus500 is not to be held liable for conversion rate differences.
- Currently, there are only eight cryptocurrency pairs that you can trade, and you cannot buy any of those cryptocurrencies – this is strictly CFD cryptocurrency trading.
- The interfaces available are Plus500 mobile apps for iOS, Android and Windows phones.
Deposits and withdrawals are easy to make both from the web and mobile. For this reason, we will do a thorough Plus500 review – so keep on reading. Welcome to our in-depth Plus500 review, the ultimate guide for traders seeking a platform that combines a wide array of trading options with robust charting tools. We’ll explore the platform’s regulatory credentials, customer service, and fee structure to give you a well-rounded view of its safety and reliability. In addition to cryptocurrencies, SoFi and Wealthsimple also offer exposure to conventional financial markets. However, SoFi and Wealthsimple only truly offer their users real ownership of their cryptocurrency, and you cannot withdraw cryptocurrency from the site.
Regulation and deposit insurance
Unfortunately, it doesn’t seem possible to overlay the price of other instruments (or indices) on the same chart. It’s noticeable that Plus500 has put emphasis on creating a platform that provides users with good visual tools to analyse investments through charting. Among others, it’s possible to trade CFD on commodities such as oil, silver, gold, sugar, copper, coffee, cocoa and corn. One of the most popular instruments among traders are currency pairs, and with Plus500 you’ll have access to a lot of CFDs on these pairs.
Mobile Forex Trading
Opening an account with them is a 100% online process – no need to send copies of physical documents. It has a wide variety of derivative assets (CFDs) that you can trade, and more than 2,000 instruments. Plus500 is more than just a cryptocurrency trading platform, it is a total financial trading website and application that also offers stocks, equities, forex and much more. This broker only offers CFD trading, so you cannot buy and own any cryptocurrency on this platform. You can only make speculative trades on 8 different currency pairs, including Bitcoin. The broker makes their money in the spread when you take a position.
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Plus500 provides negative balance protection and biometric verification for its mobile application. In addition, clients will get compensation in accordance with their jurisdiction’s financial compensation procedures in the event Plus500 fails. Unlike the sophisticated trading platforms of other brokers, the Plus500 trading platform is designed to be convenient to navigate. The processing of a withdrawal request usually takes 1 business day due to security checks. The type of payment and the processing time of the third-party provider will determine the time frame for receiving the funds.
The platform doesn’t charge fees on deposits made using debit/credit cards, bank transfers and PayPal/Skrill. As with other brokers, there is always a risk that third parties apply charges to deposits and withdrawals. Since January 2021, it has restricted access to cryptocurrency plus500 broker reviews markets. That marks the firm’s compliance with the spirit and the letter of the law following the FCA’s move towards discouraging retail traders from engaging in the market. Due to recent regulatory changes, cryptocurrencies are no longer available for retail accounts in the UK.
How can I open a Demo account with Plus500?
I have always received great support from them in the past and would not hesitate to reach out to them again in the future if need be. BlackBull Markets is a reliable and well-respected trading platform that provides its customers with high-quality access to a wide range of asset groups. The broker is headquartered in New Zealand which explains why it has flown under the radar for a few years but it is a great broker that is now building a global following. The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners. The economic calendar has been upgraded and includes data feeds from Dow Jones.
Businesses
There are many CFD brokers to choose from online, and each one has their own unique features. While this is no guarantee that you will succeed, using a trading platform that is less complex is important for beginners that want to avoid a steep learning curve. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. What sets Plus500 apart from the rest is that it is tailored not to be conducive to impulsive trading.
Slippage may cause it to not close exactly at the trailing stop price. Trailing stops are often used as a way to ride a market move whilst trying to maximise the potential of a position. They can also be useful for those who are not able to constantly check a positions status. In terms of operational risk, the firm does well to offer Guaranteed Stop Losses. Although there is a charge related to taking up this added layer of security, it is something that not all brokers provide, so Plus500 does well to make it available.
It’s primarily a broker for CFD trading, although in some EU countries (e.g. not in the UK or USA) it’s possible to invest in real shares. Unlike most CFD brokers, with eToro you can decide whether you want to trade with leverage or not, which may appeal to some users. It should be noted that eToro, in addition to CFDs, allows you to buy stocks, ETFs and real cryptocurrencies.
You should consider whether you understand how CFDs work and whether you can afford to take a high risk of losing your money. They have a web-based trading platform that is well-designed and looks modern. The search function makes it quick to find the instrument you are looking for. It’s not possible to install their platform on your computer, you are ‘stuck’ with the web browser version.
Read reviews about Bell Direct’s award-winning customer service, research, education, and stock selection tools. The Plus500 web trading platform, WebTrader, is an excellent choice for casual investors due to its ease of use and its focus on providing just the essentials. Plus500 has continued to make minor improvements to its platform over the years, and as those enhancements have stacked up, Plus500 has edged closer to competing with the industry leaders in this category. The look, feel, and functionality of the Plus500 trading app closely mirrors the WebTrader browser platform, offering a satisfyingly seamless transition between platforms. Spreads that are competing, but investment rates are pretty high.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. The Plus500 trading platform is an intuitive platform, which enables clients to trade on over 2,000+ instruments across multiple markets with competitive spreads and no commission charged. It has a clean look and feel to it making it suitable for traders of all skill levels. I had no problem browsing the markets via the intuitive interface. I like how you can quickly and easily place trades on just a few taps.
Plus500 allows leverage, meaning that you don’t have to pay out your entire investment, but only have to put in funds to cover a portion of it. This is very useful for those who want to trade large volumes of trades without needing to put down all the money. Choose to receive notifications by email, SMS or notifications on your phone. You can be alerted when a position opens, closes, for alerts you set yourself and for margin (fund) cover requests. There is no news section to keep up to date with everything related to your investments in the broker, there is one generic section about financial news.
