Plus500 is one of the most well-known multi-asset brokers in our country and also worldwide where it has been operating for several years now.
Now let’s see together what there is to know about Plus500, whether or not it is a platform you can rely on , whether there are strong points and critical points that can arise from using this broker for online trading.
Plus500: the platform
The Plus500 platform offers the possibility of investing with different solutions, with a dedicated App for iOS (and therefore for iPhone and iPad), for Android and also for Apple Watch.
At the same time it offers the possibility of operating directly from the browser , with a system that also allows the management of complex orders.
The history is also good, very detailed and allows you to do advanced analysis of your previous trades in just a few clicks.
And for those who want to get serious, Plus500 also offers the possibility of operating via downloadable software on the main operating systems.
In terms of investment platform, Plus500 really has nothing to envy from what is offered by the best brokers around.
It is not allowed to invest with MetaTrader, but the software offered for free by Plus 500 is more than functional and has nothing to envy to the solutions offered by MetaTrader.
The Windows Phone App also continues to be supported.
Deposit: methods and minimum to start
Plus 500 has a very low minimum entry barrier. 100 euros are enough to invest , while the minimum deposit via bank transfer is 500 euros .
As for the main supported modes we find:
- Bank transfer
- Credit card (Visa and Mastercard)
- Debit card (Visa and Mastercard)
- Skrill
- Paypal
- Apple Pay, Trustly and other local payment options
There are no special fees to pay when depositing money, regardless of how much you deposit and the method you choose.
The main money transfer systems in Italy and Europe are therefore all supported, and you will not have to open strange accounts or waste time to deposit your capital on this platform.
Commissions
The cost of Plus500 is linked to the presence of a spread applied to the cost of the financial product based on the type of instrument.
Let me explain better for novice traders: each product available on Plus500 has a cost which is made up of the price of the financial instrument and the spread .
The price of the financial instrument is established by market data provided by third parties.
The spread is an adjustment of the market price of the financial instrument and represents Plus500’s profit.
And how does this information translate to you? The price is transparent.
Here are some of the fees that Plus500 may apply to your account depending on your trading activity:
- Overnight Financing : If you decide to hold a position after a certain time, an overnight financing amount will be added or deducted from your account;
- Currency Conversion Fee : A currency conversion fee will be charged for all trading operations on instruments denominated in a currency other than your account currency;
- Guaranteed Stop Order – An order type ready to help you manage your risks by guaranteeing your stop loss level;
- Account Inactivity Fee : If you do not trade for more than 3 months Plus500 will charge you up to $10/month for inactivity.
You can find out more about the costs on this page .
Reliability
The reliability offered by Plus500 depends on the one hand on the certifications and authorizations of the platform, on the other hand on the use of modern cryptographic technology.
As far as reliability is concerned, we are still talking about a broker that operates with MiFID authorizations and Plus500CY Ltd is authorized and regulated by CySEC (# 250/14), and is subject to particularly stringent controls and above all obliged to total transparency towards customers and order management.
Likewise, IT security is guaranteed by using the highest cryptographic standards via browser, via App and via software. This protects the user from malicious attacks, from the possibility of data theft, identity or even funds.
Plus500 therefore presents itself as a definitely reliable platform, which allows you to operate with absolute peace of mind.
Withdrawal: methods and timing
Let’s start by saying that, according to its updated policy, Plus500 does not charge any deposit/withdrawal fees for any number of withdrawals made.
The same considerations that we made for deposits apply to withdrawals : normally 1 working day is required and can be done on all the channels we use for deposits, and therefore:
- Bank transfer
- Credit card (Visa and Mastercard)
- Debit card (Visa and Mastercard)
- Skrill
- Paypal
There are no particular critical issues regarding the withdrawal methods and timing.
Minimum trading quota
Minimum trade sizes vary for different types of products: each instrument has a pre-set unit amount that represents the minimum trade size to open a position.
You can find the information regarding the minimum quantity indicated for each product directly on the platform.
Peculiarities: products and tools
The main peculiarity of Plus500 is certainly its proprietary investment platform, which, according to those who have been using it for a long time, is equal to, if not superior to, MetaTrader 4.
We are talking about a platform that is the result of improvements that have occurred over the years and that today allows you to have, from a single screen, advanced strategies, historical consultations, latest news consultations, 13 types of graphs, 110 signals, prices of reference markets.
A platform that is also extensively documented on the site, and that you can also learn to use, as you will see later, with the free and unlimited demo account.
The +Insights platform also provides users with actionable insights based on Big Data, giving them a real overview. Users can also drill down into this data by selecting it by different parameters, such as “top bought”, “top sold” or according to their trading preferences.
Demo Platform
Plus500 also offers the possibility of starting with a free demo account with unlimited fictitious credit , which offers the same features as a trading account, with the difference that you will be investing with virtual capital, without risking your own money.
Additionally, users can now configure their demo account balance without having to contact customer support and without having to delete their account history.
The utility of this system is as follows: you can first learn to use Plus500’s proprietary platform, to then be ready with your live trading account to operate with maximum efficiency.
Likewise, you can use the free demo trading platform to test strategies with real values, without risking, at least initially, your capital.
The Plus 500 demo platform is highly recommended for everyone, both those who already have some experience and those who are just starting out.
Training courses
Plus500 has launched the Trading Academy , which offers a variety of educational products including eBooks, trader guide videos and FAQs to make trading easier for both beginners and more experienced traders.
Users can:
- Read eBooks
- Watch instructional videos
- Explore the FAQ
Customer Service
Plus500 customer service can be contacted either via live chat on the site, or via email. The service is fast and usually resolves customer issues within minutes (customer service is also available in Italian).
Plus500 customer service can be considered good , and another point in favor of this platform.
Disclaimer: 82% 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.”
