Plus500: A regulated broker approved by several financial authorities.
Plus500 has an undeniable advantage as it counts with the approval of several supervisory financial authorities. Plus500UK Ltd authorized & regulated by the FCA (#509909). Plus500CY Ltd authorized & regulated by CySEC (#250/14). Plus500SG Pte Ltd, licensed by the MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2018).
Plus500AU Pty Ltd (ACN 153301681), licensed by: ASIC in Australia, AFSL #417727, FMA in New Zealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546.
You can therefore subscribe to this broker with confidence and with the certainty that it complies with the regulations in force, particularly concerning the security of transactions. Plus500 Ltd is listed on the Main Market of the London Stock Exchange.
The conditions to open an account at Plus500:
If you want to open a trading account with Plus500, you just have to fill out a simple online questionnaire and indicate your personal information. You will also need of course to effectuate a money deposit in order to start investing on the financial market.
The amount of your first deposit is important and must be carefully chosen taking into account your daily financial needs. Let’s notice here that the minimum deposit requested by Plus500 is around 100 Euro.
Once registered on the platform of Plus500, you can start investing on the stock market, raw materials or currencies from your own secure account. You also have the possibility of using a free demo account offered by this broker. This account allows you to invest in real conditions in the market but with virtual money in order to train without putting your own capital in risk. You could then pass to classic trading mode using a real account.
You could benefit from a leverage effect that could reach 1:30.
The documents requested by Plus500 in order to validate your account:
In order to secure the use of its platform and the transactions of its clients, Plus500 is entitled to ask you for certain documents when registering online, those documents are:
- A piece of identification or any other document delivered by the government that has a picture of you, an identity number, your full name and last names, your date and place of birth and an expiration date which must not be exceeded.
- A proof of address containing your full name and address. This proof has to come from a financial institution, a company of public services, a government organism or a judicial authority. It could be a bank statement, a credit card statement, an electricity bill, a water or gas bill, a local tax certificate or a tax on income certificate, a telephone bill, an internet services or television bill. This document must be less than 3 months old.
- Finally, Plus500 could in some cases verify where your capital comes from by asking you to provide a copy or scan of certain documents such as your credit card, your bank account statement or a credit card statement.
Only once all these documents have been verified you will actually be able to use your trading account with this broker. So, think about preparing the scans of these documents before subscribing and before filling out the online form.
Plus500 and its spreads among the lowest on the market:
Thanks to its status of dealing desk broker, Plus500 can decide by itself the level of its spreads, without having to align to the level of orders placed on the international market. It thus uses strategically low spreads for the advantage of its users, which can carry out operations at a very low price and therefore make more profits.
The different trading platforms of Plus500:
Plus500 is a technology focused broker since it offers its users different trading platforms, each with many practical features and innovating tools.
The Webtrader platform is the official platform of Plus500 and is accessible directly online without the need to download anything. In fact, you can access it directly from the brokers site. Of course, this platform has all the practical features necessary to invest comfortably.
The Windows trader platform is a software that you have to download and install on your computer or tablet. However, you must have a Windows or Microsoft interface to install it or use it. This trading platform has the same functionalities as the Webtrader platform with the all the tools you need to trade.
Finally, the broker Plus500 has recently made available to its users various applications for trading from a smartphone or tablet. These specific platforms offer fewer possibilities than the other two web platforms but are accessible from IOs and Android interfaces and therefore compatible with most mobile devices on the market
Of course, you could also use several of these platforms simultaneously by connecting to them with your personal information, which gives you more possibilities.
The tools and features offered by Plus500:
Plus500 offers a variety of practical features to help you manage better your risks and increase your profitability. Here are some examples:
- Customizable leverage: You can choose between a low or high leverage on each of your positions. The leverages that will be proposed to you for each transaction automatically take into account your own capital and the value of your total positions in order to avoid losses that are greater than your capital.
- Stop loss and stop profit orders: Thanks to those tools, you can determine at which level of loss or profit you want to close your position. As a result, you do not need to follow the evolution of your positions in real time and thus avoid significant losses or non-profits making at the right moment. You can add a stop guaranteed option to these orders, which will close your position at the exact price indicated even in the case of a sudden fall in the market.
- Price alerts: this feature notifies you when the price of an asset reaches a certain buy or sell value that you choose. This alert does not close your position, it simply informs you about the achievement of your objective and gives you freedom to act according to your convenience.
- Triggering follow-up: This is a feature that allows a position to remain open as long as the price evolves in the direction that you planned but it closes automatically in case of a change of direction and after a certain number of pips.
The support for traders at Plus500:
The Plus500 online broker does not really offers an online trading learning module. However, new traders are not set aside they receive a regular follow-up by an advisor.
It should be noticed that this broker offers 24-hour online assistance service and a very available and responsive technical support that answers all your questions in several languages.
In order to train, you can use a free demo account that allows you to try trading without having to take risks with your own real account and therefore be able to try different strategies before embarking in the big adventure of CFD trading.
The different assets proposed by Plus500:
Plus500 gives you access to a very wide range of very diverse assets. In fact, you could trade on several hundred French, European and international securities through CFDs, as well as on other sorts of assets such as 23 world indexes, about 60 pairs of currencies and 17 raw materials.
The broker also allows you to trade ETF, options or even crypto currencies such as the Bitcoin.
Making deposits and withdrawals with plus500:
In order to make deposits on the Plus500 platform, you have numerous payment methods at your disposal. Thus, deposits can be made with Visa or Mastercard credit card, through a digital wallet such as PayPal or Skrill or by bank transfer. Remember that the minimum deposit required is €100.
The money withdrawals from your Plus500 account are free of charge and are mainly made by bank transfer to the account from which you made your deposit. It is however possible to change your bank information in order to receive the money on another account. Of course, to make a withdrawal, you have to present some documents such as a piece of identification and a proof of address.
Our full opinion about Plus500:
Plus500 seems to have several advantages for individuals who want to invest on the financial markets. First, it offers very attractive spreads since it is one of the cheapest brokers on the market thanks to its status of dealing desk broker which allows it to choose its spreads.
Another strong point about this broker is that it is regulated by several financial authorities. You can therefore subscribe without the risk of fraud or other security concerns about your personal information, your financial transactions or your capital.
Plus 500 has been classified among the best brokers of 2016 thanks to these two positive points. But these are not the only qualities of this broker which has received numerous awards over the last years. In fact, Plus500 has three different types of innovative platforms which offer interesting tools in terms of risk management. You also have access to many assets, including hundreds of international assets.
But of course, this broker does not only have advantages. Among some of its few weak points, we can for example site rather long withdrawals compared to some other brokers.
Besides these few disadvantages, we strongly recommend this broker which will meet all your expectations and offer you a truly exceptional trading experience.