Plus500 Review - demo, fees, strategy and more!
Plus500 Cy Ltd
- Broker working since 2008
- Many satisfied clients
- Own simple to use platform
Your capital is at risk.
Plus500 is just a CFD broker. It does not offer binary options trading. This established broker has been present in the market since 2008 without any major problems. Plus500UK Ltd is licensed and regulated by the British FCA (Financial Conduct Authority), license no. FRN 509909. Plus500CY LTD is subject to regulations of CySEC (licence 250/14).
The broker offers an unlimited free demo account, so you can test your trading skills without any risk a few seconds after you have registered. Given no limitations, you can use the demo account for even half a year.
The broker’s portfolio includes also a platform with customer support in more than 20 languages. The advantages of Plus500 are: guaranteed stop loss and narrow spread. The broker offers over 2000 instruments including shares, currencies etc. Trading with CFD involves the same level of risk as binary options trading i.e. it can result in losing all your money.
Plus500 offers both trading over the platform interface as well as the option of downloading the platform. Both options are almost identical. If you are familiar with the main terms of CFD trading such as leverage and lot it will be peanuts for you to find your bearings in the platform because the design is really good.
As usual, on the top bar you will see the details of your account: balance, open positions etc. Underneath there are various assets (and you can see that the range is huge). It’s not like binary options brokers offering just 70 assets. With Plus 500 you can trade all possible and seemingly impossible global shares including the aforementioned shares, currencies and so on. The portfolio also contains cryptocurrencies (e.g. Bitcoin, Ethereum,…)
At the bottom of the screen you can see a chart showing the price of the given underlying asset. Traders can choose from a candlestick, bar or column chart. Available are different time frames and various indicators such as Stochastic, ADX etc…
Trading with Plus500
I have tested this broker twice. For the first time it was before I was 18 years old. At that time I only tried out the demo account. Next time I did it in 2015; this time it was with real money. Despite the time gap, the two experiences did not differ that much. The broker’s platform and user support were exactly the same.
Nowadays, Plus500 is operating an innovated platform which is a bit faster and more user-friendly than the old one. Overall I find the trading with this broker good because all elements are relatively simple. The fact that some more advanced features are missing makes the platform simple and easier to control.
Spread and costs
It’s not any secret that each broker must make money from this business. Forex and CFD brokers such as Plus500 make their money on spread. Spread means that a newly opened position is always a loss-making position. The price must first overcome a few pips (with Plus500 this is dynamic, mostly from 0.8 to 2) to become profitable. If you trade with a couple of hundred dollars, the commission will not be bigger than a few bucks.
Some brokers charge a fixed fee for the opening of a trade. This is not the case with Plus 500 cy ltd. However, I must mention that if you leave your positions open over weekend and sometimes over night, you will have to pay some small charges.
Plus500 Cy Ltd Pros
Plus500 Cy Ltd Cons
Plus500 Cy Ltd Details
|Broker||Plus500 Cy Ltd|
|Support Types||Live support, Email support|
|Languages||English, Hrvatski, Dansk, Nederlands, English, Eesti, Suomeksi, Français, Deutsch, Eλληνικά, עברית, Magyar, íslenska, Italiano, Latviešu, Lietuviškai, Bahasa Melayu, Malti, Norsk, Polski, Português, Română, Pyccĸий, Slovenčina, Slovenski, Español, Svenska, Türkçe|
|Trading Platform||Custom platform|
|Minimum 1st Deposit||$ 100|
|Minimum Trade Amount||Micro lots (0.01 lot)|
|Leverage||Up to 1:300|
|Spread||0.8 - 2 pips|
|Free Demo Account|
|Deposit Methods||Credit card, PayPal, Skrill, Wire Transfer|
|Withdrawal Methods||Credit card, PayPal, Skrill, Wire Transfer|
|Number of Assets||2000+|
|Types of Assets||2000+ assets|
|US Traders Allowed|