Pluss500 Review 2021| Top Trusted forex

Pluss500 Review

• Plus500 Security & Licenses
• Trading fees & commissions
• Pluss500 Review: Trading Instruments
• Pluss500 Review: Account Types
• Demo Accounts
• How to open an Account with Plus500
• Trading Platforms
• Social Trading and Auto Trading
• Pluss500 Review: Mobile Trading
• Islamic accounts
• Deposits & Withdrawals
• Pluss500 Review: Research Tools
• Analytics and Education
• Customer support
• Conclusion
• Author

Overview

• Plus500 Security & Licenses
• Trading fees & commissions
• Pluss500 Review: Trading Instruments
• Pluss500 Review: Account Types
• Demo Accounts
• How to open an Account with Plus500
• Trading Platforms
• Social Trading and Auto Trading
• Pluss500 Review: Mobile Trading
• Islamic accounts
• Deposits & Withdrawals
• Pluss500 Review: Research Tools
• Analytics and Education
• Customer support
• Conclusion
• Author

Pluss500 Review: In today’s review, we are going to bring all the features of Plus500 broker offerings, and their safety, and share all the important information about this broker, which will help a trader to choose the right broker.

Plus500 is a trusted global broker that offers retail forex and CFD traders an easy-to-use platform with a good selection of tradeable products. Currently, it supports 2000+ trading instruments in CFDs on Shares, Indices, Forex, and Cryptocurrencies trading. Pluss500 was first founded in 2008, since then they got big popularity because their security was so strong.

Plus500 Security & Licenses

When it comes to traders’ safety Plus500 seems like they take it seriously. They are regulated by 3 top-tier and 4 tier-2 regulatory institutions (FCA, ASIC, CySEC) making it a safer broker for forex and CFDs trading. European traders can trade under FCA.

• Regulated by the Financial Conduct Authority (FCA), under license number FRN 509909
• Cyprus Securities and Exchange Commission (CySEC), under license number 250/14
• Australian Securities and Investments Commission (ASIC), FSP No. 486026.
• Issued by the Financial Markets Authority (FMA) in New Zealan
• Issued by the Financial Sector Conduct Authority (FSCA) in South Africa
• Seychelles Financial Services Authority (FSA), under license number SD039
• Also holds a capital markets services license (number CMS100648-1) from the Monetary Authority of Singapore (MAS) for dealing in capital markets products

Trading fees & commissions

Plus500 is always transparent about its commissions and fees. They are highly competitive when it comes to trading fees and commissions. They don’t charge commission fees instead they charge highly competitive spreads, starts from 0.7 pips only. And our review team is happy to share that there are no fees for their deposits and withdrawals, but there are small inactivity fees.

Fees in forex trading fees are generally of two types. One is a Trading fee and a Non-Trading fee.

1. Trading fee is charged every time when you open a position. Training fees include spreads, commission fees, swaps, and currency conversion fees.
2. Non-trading fees include deposit and withdrawal fees, and inactivity fees.

Forex fee: There is no commission fee for forex trading, only spreads and swap fees are deducted, and no swap fees are deducted for Islamic accounts. Luckily you can trade 71 currency pairs including major, minor, and cross pairs also some exotic currency pairs. Where you can advantage from lower spreads, generally, spreads are between 0.7 pips to 3 pips.

Share Trading fee: They are offering more than a thousand shares at a low cost. The average spread is 6 pips, which is highly competitive.

Non-trading fees: One of the main advantages of Plus500 is that there is no fee in case of deposit and withdrawal, but they do charge an industry-standard inactivity fee.

If a user has a balance in their account and the account has not been used for more than six months, they charge a $5 inactivity fee. However, the amount of C increases every year. You can easily solve this problem by logging in once in six months.

The maximum trade size is 60 standard lots per position, which is far more restricted than XM Broker.

Pluss500 Review: Trading Instruments

Plus500 is a multi-asset broker providing 7 asset classes Forex and a variety of Derivatives of trading instruments to boost your trading experience and diversify your investment portfolio. And the list of trading instruments is growing constantly. You will be able to trade commodities, precious metals, indices stock and shares, cryptocurrencies, options, and EFTs. Our review team was happy to share that they are offering surprisingly 71 currency pairs available including major, minor, and cross currency pairs also exotic currency pairs. The rest of the instruments are calculated in the table below.

Cryptocurrency can only be traded as CFD, (remember, you only trade crypto as a CFD product, not buying or owning the underlying assets). By the way, cryptocurrency is not available for the UK entities, nor to UK residents.

FOREX TRADING

Currently, it supports 71 currency pairs.

Pluss500 Review: SHARES TRADING

You can trade top-performing international companies with low margin requirements and costs.

INDICES & COMMODITIES TRADING

Major Indices and explore your opportunities on the stock market. and most popular soft commodities.

Pluss500 Review: ETFs TRADING

Diversify your portfolio across markets, sectors, currencies, and commodities.

CRYPTOCURRENCIES TRADING

Plus500 supports cryptocurrencies including Bitcoin, Ethereum, Ripple, and Litecoin.

Pluss500 Review: Account Types

They are offering only 1 retail account type of trading account, but it doesn’t mean it has fewer options, this account type comes with impressive tools and features, where the minimum deposit is $100. Plus500 is making sure that beginners are met with affordable requirements. They also offer offers a Demo account to practice your trading skills.

Plus500 doesn’t offer any corporate accounts, only individual trading accounts are allowed.

Demo Accounts

Plus500 offers demo accounts, which allow you to verify your trading strategy using virtual balances. Demo accounts are designed to be like real accounts so that a trader can gain real trading experience with Plus500. Account is filled with $40000 virtual balances, if you loss that amount while trading, you can refill as many time as you want.

However, we think that since they have the advantage of a micro account, you can use a micro account instead of a demo account to check the trading strategy if you want. Trading with real money will make your money management, risk management, and control better.

How to open an Account with Plus500

The process of opening an account on Plus500 is very simple takes a few minutes, you can open a trading account using your mobile or computer. You can manually input your personal details, or you can open an account using Apple ID, Facebook, or Gmail with one-tap.

The account verification process is the same as other brokers. First, you have to verify your e-mail and phone number. Then they will ask for some documents for identity and address verification. You can use your driving license or passport or your national ID card for identity verification. And for address verification, you have to provide a verified document where your address is clearly written and the address matches with your identification document. In this case, you can use the electricity bill or your bank statement, etc.

And the verification process can take up to 3 business days which is much longer than other competitor brokers. In most brokers, the verification process is completed within 1-2 business days.

100% verified account within 15 minutes at XM Broker.

Trading Platforms

Unfortunately, Plus500 doesn’t support the Metatrader platform. Their main focus their proprietary web trading platform and mobile app. And webtrader interface is extremely user-friendly. Plus500 provides 100 indicators to boost your trading analysis.

User interface:  WebTrader interface is very simple and user-friendly, it would be very helpful for newbie traders. Great platform to start your trading journey, and get to know the essential tools before using an advanced platform and features.Note

Charting: Charting is quite good on this platform as they are providing 100 indications and 20+ different drawing tools that can help you to step up the analysis. On top of that, you can save different templates so that you can use them more often. Analyze charts with different setups faster.

Social Trading and Auto Trading

Because they are mainly focusing on their proprietary web trading platform, they do not support social trading and auto trading.

Pluss500 Review: Mobile Trading

Plus500 has its own mobile app capable of control trades, view live charts, and even close or modify your trading position, view trading history. The mobile app interface looks and feels like its web trader. However, their mobile app has some lack of advanced tools and all-around functionality.

Islamic accounts

Unfortunately, Plus500 doesn’t support Islamic accounts for Muslim clients. So, there is no option for swap-free trading. Plus500 isn’t a Sharia-compliant broker, and swap is strictly forbidden in Islamic culture. So as a Muslim trader be sure that you are well aware of it. Luckily, there are plenty of forex brokers available that are 100% Sharia-compliant and offer swap-free trading opportunities. As a swap-free and low-cost leader XM cloud be the best choice for you. we have a full detailed review on XM broker. Check it out here.

Deposits & Withdrawals

There are no fees for their deposits and withdrawals, which is very helpful for beginners. And the minimum deposit is also very accessible, starts from only $100. Currently, there are supporting 7 currencies as their base currency, these are USD, EUR, GBP, NZD, AUD, SGD, ZAR.

Pluss500 Review: Research Tools

Sadly, Plus500 missing some of the most important basic research features such as daily market commentary, forex news, or weekly webinars. There is a link to Yahoo Finance for exchange rates and an economic calendar from Dow Jones. Also lacks technical or fundamental analysis and trading signals and so on.

Analytics and Education

Education section another weaker point for Plus500 broker, it doesn’t offer much educational content for traders when compared to its compitors like XM, IG or BD swiss.

Customer support

In order to reach customer support, you can use the live chat or mail service. They provide 24/7 customer support in multiple languages. And support members are very quick responsive and intelligent. Because they are providing 24/7 customer support, those who are trading crypto on this platform they will be able to get customers’ support during the holidays. Moreover, they have a FAQ option available where they gave answers to the common questions. We always recommend you to check the FAQ option first, for your answer.

Conclusion

The Plus500 user interface is very much user friendly. For beginner retail traders, Plus500 can be a very good platform, But we do not recommend Plus500 for more expert traders, because of its some of the major lacks, such as lack of basic research tools, no MetaTrader support, no social trading, and auto trading options. And most importantly for Muslim traders, there are no swap-free trading options.

Plus500 Broker Information