Plus500 Review – What every trader should know about it?
Plus500 in Canada and other countries is a reliable and successful brokerage company. This project has existed for a long time and earned a good reputation. Plus400 allows trading stocks, currencies, goods, cryptocurrencies, ETFs, indices, and options, as well as innovative trading technologies. However, does this mean that you can trust it? Are Plus500 – scam claims true?
It is difficult to entice experienced traders to fraudulent resources because their experience allows them to accurately identify and avoid scammers. However, for a beginner, such a task is not an easy one, which is why they are the main suppliers of money to scammers.
Although there are many scammers online, we did thorough research and can assure you that Plus500 is a trustworthy company. Plus500 trading is a reliable company with a wide range of instruments and a simple trading platform. We recommend this broker to novice traders and those who need a simple and understandable trading platform
Regulation and the Future of Plus500
Plus500 is a major broker controlled by three regulatory organizations, which strictly punish for any violations. It keeps traders’ money in separate client bank accounts, which is a requirement of one of the UK regulatory authorities.
The company created a solid foundation for further development. The development strategy of the company has several advantages over competitors and contributes to the further progress of its activities. Plus500 marketers predict that the company will continue to be a key player, attracting new customers, and maintaining the loyalty of current ones.
Plus500 minimum deposit and withdrawals
The website is simple, informative, and easy to navigate. It is available in 32 languages. After you create your Plus500 login ID and password and complete the registration, you can deposit funds to start trading. A welcome bonus of $30 is available to all new users. A minimum amount to open an account is $100. Plus500 withdraw and deposit options include visa card, bank transfer, PayPal, Moneybookers, Skrill.
Tech support and other resources
Technical support works pretty well. Communication is mainly done via tickets emailed to support. There is a round-the-clock chat and 32 languages are supported. There is no phone support, with rare exceptions.
Although the platform contains data on trading moods and significantly improved chart analysis tools, adding news headlines and additional tools, such as pattern recognition tools, as well as integrating the economic calendar into the Plus500 trading interface will significantly improve the broker’s resources.
Examples of numerical values
In addition to the trading instruments mentioned above, the broker provides the basic tools for risk management on its platform: Close at Profit, Close at Loss, Guaranteed Stop, Trailing Stop, and Price Alerts.
Plus500 CFD broker assures that it will provide reliable storage of funds and data of its customers. To do this, it uses the following methods:
- Customer accounts are held in segregated bank accounts;
- To hedge risks, the broker uses only its own funds, clients’ funds do not participate in this;
- Client deposits are not transferred to counterparties for hedging transactions;
- The company is not bound by corporate or national debts;
- Plus500 does not invest in private capital.
Plus500 fees and commissions
Although there is no fee for placing a deposit, if you do not trade for 3 months, $10 will be debited from your account monthly. There is no fee for making deposits and withdrawals, as well as opening and closing positions. However, there are swap fees that traders need to keep in mind, as well as the following cases when fees are charged:
- exceeding the maximum number of monthly payments
- converting money into unsupported currencies.
The broker has two types of accounts:
- Main. It is available to everyone who wants to trade with real money.
- Training. Demo account for training, exploring the market, and checking strategies.
Both accounts have the same trading conditions. Leverage is up to 1 in 300. Spreads are floating, from 0.3% on all instruments.
Summing up, we see that trading with Plus500 trader has many advantages: simple interface, low fixed spreads, easy depositing, low minimum deposit required to open a trading account, a large number of trading instruments, and the fact that this broker is licensed by FCA. Also, this broker holds a large number of promotions, for example, there was an offer when the users who created an account were rewarded with a bonus of €25 even before they made a deposit. All these features help this broker to create a good impression.
Many experienced traders already earn a lot of money by trading on the exchange Plus500. Therefore, if you want to get acquainted with the world of cryptocurrency and cryptocurrency trading with good conditions, then feel free to go to this exchange. Who knows, maybe very soon you will be able to earn big money because everything is possible with cryptocurrency.
Author: Jack Matias