Plus500 – SCAM or a Good Forex Broker
The Plus500 brand is owned by Plus500UK Ltd. This is an Israeli project that appeared in 2008. It specializes in trading contracts for the difference in prices of assets foreign exchange, stock, commodity and crypto markets. Its capitalization exceeds $ 1 billion.
Plus500 trading is a member of the London Stock Exchange. Its trader services are regulated by the British FCA.
Plus500 Company History
The broker by founded was a group of graduates of a technical university who were fond of trading and financial analytics. The total investment amounted to $ 400 thousand. Until 2010, customers received access to financial markets only through a trading platform on the Windows OS. Later, a web platform and a version for other operating systems were added.
In 2012, an application was developed for trading on mobile devices.
The public offering of shares occurred in 2013 on the London Stock Exchange. The company’s market capitalization is increasing annually and amounts to more than $ 1.2 billion.
The list of asset groups for trading includes cryptocurrency, stocks of companies, Forex, precious metals, agricultural products, oil and gas, and indices. Looking at the list of all trading instruments, you can be surprised. It is clearly more what many other brokers offer in the CIS and Europe.
At Plus500UK Ltd. there are two divisions:
- Plus500CY Ltd. It operates in Europe under the CySEC license.
- Plus500 AU Pty Ltd. Provides services in Australia, New Zealand, South Africa. The regulator is ASIC.
- The broker does not indicate its address, but it can be found on the FCA website: 78 Cornhill, London, EC3V 3QQ UNITED KINGDOM.
Assortment of financial instruments
Plus500 offers to trade in contracts for price differences:
- Currency pairs
- Stocks. Among them are CFDs of various types of medical cannabis. It is presented by the broker as one of the exclusive and promising financial instruments.
The total number of assets reaches several thousand. They are periodically updated and the list is expanding.
The broker provides only two types of accounts. This is a training and standard trading account.
In addition to the trading tools mentioned above, Plus500 provides basic tools for risk management on the platform: Close at Profit, Close at Loss, Guaranteed Stop, Trailing Stop and Price Alerts.
Liquidity providers, order execution and other questions about the broker
- There is no Plus500 minimum deposit data. Practice has shown that it is $ 100.
- There are no limits on transactions and other important restrictions.
- The broker does not cover its liquidity providers.
Features of trading with Plus500
The company is actively positioning itself as a reliable and stable financial partner of investors and traders. Therefore, Plus500 Canada representatives limit themselves as much as possible from speculative transactions.
We highlight some of the features of the broker:
- Plus500 company does not invest the money of traders or investors in third-party projects, does not issue loans for financial gain;
- Plus500 does not have any connection with the country’s debt obligations, does not have any payables or receivables to third parties;
- All funds of investors and traders are stored in a bank account, in accordance with the provisions of the law and international financial regulation.
This means that the money is available for withdrawal on any day without restrictions and commission. The broker’s reporting is constantly monitored by regulators. One of the major achievements of the company is the sponsorship of the Atletico Madrid football club. The Plus500 trader logo stands out clearly against the background.
Trading platform terminals of Plus500 broker
Plus500’s list of trading platforms includes Web Trader for Windows and MacOS, MetaTrader 4, as well as mobile versions of platforms for smartphones and tablets. If everyone is familiar with MetaTrader’s concise interface, then the design and functionality of the Plus500 web version is unique. You can choose from a complete set of tools for analysis and forecasting. Conveniently, on the main screen of the platform, you can select tools, indicators, connect news and even switch to the economic calendar.
Deposit and of funds
Plus500 login supports:
- Cards of international payment systems. The deposit and withdrawal time depends on the processing speed of a particular MPS.
- Bank transfers. Plus500 withdrawal takes up to 5 days.
- Transactions through EPS. They take 3-7 days.
Plus500review – What do users have to say?
The opinions on the internet are mixed. On one hand, the broker criticized, including the fact that it invalidates deposits when trying to withdraw funds. Although, there is a suspicion that such reviews about Plus500 are left by competitors.The penalty from FCA also raises the suspicion of Plus500 reliability. However, this confirms that this broker is controlled by serious regulatory organizations, and you can be confident that your money will be safe.
Many traders actually praise the Plus500. They like:
- variety of instruments;
- a simple platform for trading;
- low spreads;
- modest minimum deposit without additional conditions.
Summing up, it should be emphasized that the big advantage when using the Plus500 trading platform is its intuitive interface. The platform can be applied to new users as easy. On the company’s website you can find programs for training in trading and help new users to gain experience in processing programs.
For those who have high-level trading experience, the platform provides real time updates around the world, which is ideal for experienced traders. The system also has tools designed to analyze trends and compare rates. Thanks to all of the above, the system can be considered as universal in Internet commerce.