One of the oldest, best-known and most popular brokers for exclusive trading in CFDs (contracts for difference) in Canadian-speaking countries is definitelyPlus500*. We took a close look at the company, which has always been in the media, and explained in our field report what interested traders should pay attention to. After an assessment of the Plus500 seriousness, we go into more detail about the actual offer of this CFD service and show which factors decide whether it is worth registering with the top broker or not.
|🥇 Best provider|| |48||Plus500|
|⭐Rating||4.5 / 5.0|
|🐂 Trading||CFDs only|
|📈 Underlyings||2000 Stocks, Indices, Currencies|
|💻 Software||WebTrader, Plus500 Trading Software|
|🏆 Plus500||Trade Now!*|
*: 76.4% 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.
Background: that's how serious Plus500 is
Plus500 has its roots in Israel with various subsidiary companies worldwide, for example in Great Britain. The company behind it, Plus500 UK Ltd., is also based there. reported. Plus500 is a trading company that now offers its services in many countries around the world. The CFD broker started a year later after the company was founded in 2008 and was the first company at the time to offer trading in CFDs completely commission-free. At that time this was a real innovation and brought the company many satisfied and loyal customers. Trading in CFDs is now possible in over 2,000 markets. Plus500 has been available in over 20 languages for a few months and is attracting interested new customers from all over the world. Plus500 is also the main sponsor of the Spanish football club Atletico Madrid, which won the Primera Division in the 2013-2014 season. This shows how much money is really behind the company.
|Address||Building 25, Matam, Haifa 31905 , Israel|
|Regulation / License||FCA, 509909|
Nach eigenen Angaben ist Plus500 vollkommen schuldenfrei und verfügt über eine hohe Liquidität. Darüber hinaus erwähnenswert ist, dass die Kundengelder gemäß geltendem Recht separat vom Firmenvermögen aufbewahrt werden. Konkret hat dies für Trader den Vorteil, dass im Falle einer Pleite von Plus500 auf eine Rückzahlung großer Teile der eigenen Einlagen gehofft werden kann. Gläubiger haben dann keine Chance, bei der Eintreibung der verschuldeten Gelder an genau diese Beträge zu kommen.
Plus500UK Ltd is regulated and authorized by the FCA (#509909). This is done by the responsible authorities of the countries with the three main branches. In London, UK this is the Financial Conduct Authority (FCA) for Plus500 UK LTD, in Sydney, Australia for Plus500 AU LTD the Australian Securities and Investments Commission (ASIC) and Limassol, Cyprus for Plus500 CY LTD the Cyprus Security and Exchange Commission (CySEC). There they take care of all matters that arise with regard to Plus500. Financial regulators are subject to direct directives such as from the European Union. So the laws to be obeyed are the same. The English authorities in particular are known for their precise, strict and solid controls. Users of Plus500 can therefore assume that there is no fraud or rip-off and that there are no dubious business practices such as the manipulation of numbers.
That's what customers say
Not all traders are completely satisfied with Plus500. A quick internet search or a look at the comments on the company's Facebook page shows that communication between Plus500 and its customers is not always flawless. For example, accounts are frozen without further justification. When asked, it will then be clear that an account will be transferred and should be free to trade again within a few days.
These and other examples make some traders sullen. They do not fully trust Plus500 and make this clear in various reviews on the World Wide Web. Again and again it becomes clear that Plus500 is blamed for the simple loss of money. CFD trading is a risky business where a trader can quickly gain a lot of capital, but also lose it. Nobody said that Plus500 should be seen as a kind of money printing machine. Therefore, critical comments must always be read and considered with great caution. If the CFD system does not lead to the desired success, it does not mean that Plus500 must be to blame.
The support in the test
In our test, we of course also have all the support options exactly under the magnifying glass. Typically, larger CFD brokers not only offer contact via email, but also a free telephone number and sometimes a live chat. Questions and answers in the form of FAQs are also communicated online.
The online broker Plus500 offers its customers an online chat for questions, which is available around the clock 24/7. There is also the option of contacting them via email. A positive plus point: the support is available in several languages. Compared to almost all competing providers that we have already tested, the service at Plus500 is okay. There is no service number. There is not a single telephone number online that you can use to contact Plus500 directly and clarify questions and problems personally. In our field report, we would now also like to describe our opinion on this type of contact. Because in the test, contact attempts were only answered after a few working days. We had the feeling that we were being held up here.
Nevertheless: we were able to get an answer to most of our questions by using an internet search engine. Thanks to Plus500, we realized that direct support via customer service representatives is not absolutely necessary. However, this is not intended to excuse or defend the company's poor customer service.
On paper, Plus500 looks extremely serious. The company is growing and growing and now offers its services in various countries around the world. The fact that a large and well-known Spanish team can now be sponsored shows how healthy the company is and how much capital is really behind it. The regulations in two different countries of the European Union also make it clear that Plus500 is serious. There is also deposit protection for customer funds, so that in the unlikely event of the company going bankrupt, funds are guaranteed to be repaid.
We are a little worried about the ratings of other customers. If it is really common practice not to answer inquiries or only to an insufficient extent, then there is a trust problem at Plus500. The almost non-existent customer support bothers us extremely in our evaluation. Our experiences in this regard are also underwhelming. We would like to recommend the broker, who is internationally active and one of the first addresses, to reconsider his customer support policy.
In the second instance, we have each other the advantages, disadvantages, conditions and services of Plus500 in detail. For each sub-item, we have created a short review that provides a comprehensive insight that interested traders can use to decide for or against this broker. All information has been created to the best of our knowledge and belief after our personal test.
DISCLAIMER: Picture with price examples!
Forex, CFDs and much more
Plus500 is a pure forex and swipe! CFD broker launched. In the meantime, however, traders also have the opportunity to trade with other financial products such as indices, ETFs and commodities. It must be mentioned that CFD stock trading does not incur any commissions that would have to be paid to Plus500. So not only forex traders should register, but also traders who want to try other financial products. Plus500 can be seen as a real all-rounder that has almost all important and interesting trading variants in its program. Over 2,000 markets are tradable.
Maximum leverage corresponds to the legal requirements
At Plus500, those responsible do not rely on a pure price-cost strategy that is intended to flatter the users. The maximum lever, which strike in Forex! Trading is offered has been adapted to the legal basis. The leverage for exotic currencies and currency pairs is significantly lower. For information: The general maximum leverage is 1:30.
Clear trading software
The negative point first: the software MetaTrader 4, which is admired by many traders because of its clarity and individual adaptability, unfortunately cannot be used with Plus500. Instead, Plus500 provides its own web trader, which, thanks to its fantastic structure, makes it much easier for newcomers to start trading CFDs.
Plus500 also has its own trading platform, which is available for download. There you just have to quickly log in with your identification data and you can trade directly on your own computer. In our test, we find that this trading software is significantly less flexible than the web trader. We would therefore recommend taking advantage of the offer directly in the browser.
Plus500 also provides you with a free app. This is currently only available for Android and iPhone users. However, unlike many other providers, you can also trade. According to statistics recently published by Plus500, more than 40% of all trades are now completed via the mobile app. However, we do not want to promote the use of such an app. Course outlines are often very small and difficult to see. This makes successful trading more difficult.
Deposit and Withdrawal
Deposits can be easily made at Plus500 via bank transfer, credit card and various other services that allow direct transfer of money to the online -account promise. These include, for example, well-known payment systems such as Skrill, Giropay and also Papal. Overall, we are very enthusiastic about the wealth of different options.
|Overview of the deposit and withdrawal options|
|Payment options||Visa, Mastercard, Skrill, bank transfer, PayPal| ||221|
|Fees:||No deposit or withdrawal fees|
|Account management possible in:||Euro, US Dollar, British Pound|
|Withdrawal Options:||Visa, Mastercard, Skrill, Bank Transfer, PayPal|
Payouts are basically made in the same way as the money is transferred to the online account. The most common is the classic bank transfer. However, judging from the experiences of some customers, the transfer of funds does not always run smoothly. Plus500 often requests more and more documents and takes a lot of time to really check the documents submitted. We also had some problems with our payout in the test, but in the end we found the money in our account.
Plus500 does not charge any additional commission. The spread is priced in when a position is opened. If a trading position is left open overnight, an overnight fee will apply. The amount depends on the trading volume and the underlying. Plus500 will charge an inactivity fee of up to $10 per month for inactivity for more than three months. The amount will be deducted from the real money account. However, Plus500 also points out that it is considered sufficient activity if the trader simply logs into his account and logs out again. For a guaranteed stop order, Plus500 calculates a wider spread than normal. The amount of the spread results individually from the respective trade.
Minimum deposit only 100 euros
The low minimum deposit required by Plus500 is also very fair. Trading is also quick and easy for private individuals. The minimum deposit is specifically 100 euros. However, interested private individuals should not enter CFD trading with such an amount. The money can only be split with difficulty, since positions that are too small do not make sense in trading. It is advisable to start with the CFD broker with at least 500 euros.
More than 50 currency pairs available
For CFD trading it is not interesting that a total of over 2,000 markets can be traded. Forex trading takes place at Plus500 with over 50 currency pairs. In addition to the majors, there are also some exotic pairs among them. According to our experience, the list is constantly being expanded.
No educational area, but a demo account
In terms of further training opportunities, Plus500 is extremely poorly equipped. There are only a few articles and information texts about what CFD trading actually is. Webinars, seminars, videos and e-books have been completely dispensed with. A small ray of hope: a free demo account is included, which can be used indefinitely.
Overall rating: Plus500 is that good
One of the largest CFD brokers in the Canadian-speaking area had a better rating in our test leave a mediocre impression. While the basic offer, the internationalization and the background check were positive, the CFD broker saves in important areas, such as further training opportunities and customer support. More experienced traders who do not need the help of employees should therefore register.
*: 76.4% of retail investor accounts lose money on CFD -Trade with this provider. You should consider whether you can afford to take the high risk of losing your money.
I'm impressed by Plus500! The play money account is really useful in conjunction with reading about forex trading and helped me get started with trading currencies. I find the trading software very clear and intuitive to use. I'm a little worried about the courses, which seem to only update after a while. My purchases and sales are not always processed directly in real time. However, this changes when main exchange rates are selected, such as US dollars and euros. That's why I suggest beginners to try these currency pairs first.
written 74 months ago
Among the forex brokers, Plus500 is probably the one who advertises most actively and ruthlessly. I don't think the company's promises can really be kept. I am disappointed with the customer support, which can only be reached via email. Questions are therefore only answered very sloppily. The broker may still be interesting for beginners, however, since there is a play money account that is permanently available free of charge. In my opinion, low barriers to entry make the broker even more attractive and really interesting for all beginners. There is also a bonus system and a registration bonus of 25 euros, which is also available without a deposit.
written 69 months ago
Trading is with a associated with high risk. But there is also the option to manage trading risk. Plus500 offers a risk management tool for this. So I always have influence and can, for example, specify that certain profits should be closed automatically. I have also used the price warning option. So not much can actually go wrong.
written 64 months ago
I looked around for a good broker and finally decided on Plus500. An incentive for signing up was the point that I can trade Canadian positions there without commission. I've tried it and it really is. However, I had to deposit at least 100 euros.
written 63 months ago
Plus500 offers new customers a free demo account for practice. I used it for myself right away, tested the platform and tried out strategies. I really like the demo account. Trading is completely risk-free. Of course, you can't make profits in the demo either.
written 62 months ago
I registered with Plus500 at a good time. Because I received a 25 euro bonus without making a deposit. I just signed up for a real money account in WebTrader. After confirming the phone number, the bonus amount was credited to me.
written 59 months ago
Securities trading is an interesting area for me. But since I don't know everything exactly yet, I found out more about securities trading at Plus500. All important factors are listed in the information material.
written 57 months ago