Plus500 is arguably one of the most highly rated and popular brokers in the world.
There are a number of reasons as to why it is one of the best.
Is Plus500 a Scam?
Plus500 is definitely not a scam. I’ve used the for years without problems, and so did millions of other traders.
In fact, Plus500 is listed on the London Stock Exchange. This means that you can buy Plus500 stocks. This also shows how awesome this company is.
Question: Why does the logo of Plus500 have the “xx.x% of retail CFD accounts lose money” warning?
Answer: This is because they are forced to do it by the regulators. All kinds of investments are risky. But especially CFD brokers like Plus500, have to add this warning everywhere possible (is CFD trading a scam?).
What is Plus500
The first thing to note with any broker before signing up is legitimacy.
This can be found through licensing and regulation under internationally recognized financial authorities.
In the case of Plus500 , we know that it is licensed and regulated by at least three of the world’s leading regulatory bodies – the FCA, ASIC, and CySEC. What’s more, this broker is also listed on the London stock exchange.
Being listed on a stock exchange does not completely prove the legitimacy of a broker.
However, it does require it to release its accounts to the public during every semester, which helps traders make a more informed decision when it comes to signing up. A listed company must also satisfy the standards of various auditors and other trustworthy financial bodies.
The broker is so good that we’ve compared Plus500 to eToro.
For a lot of brokers, financial regulation and stock market listings are not everything, and they should not be. The daily services and operations of a broker should also be heavily scrutinized in order to determine reliability.
Is Plus500 A Good Platform?
In a word, yes, but as a trader, you are going to need a more comprehensive answer to that. Is Plus500 a legitimate broker worth trusting with your online investments? We shall now take a close look and find out.
Accounts
Plus500 offers a really simple choice of accounts, a demo, and a live account. The demo of course, is available free of charge with no accompanying time restrictions. Meanwhile, the live account can only be activated after making an initial deposit of at least 200AUD. For forex traders (offered as CFD), leverage for a live account goes up to 1:30.
Trading platform
Plus500 uses an elegant design of trading software that is substantial but also easy to access and use. It arms clients with important services such as technical analysis software. It also enables traders to manage multiple markets on the same screen whilst providing price quotes in real time.
Plus500 is a CFD broker that offers following instruments through CFDs: currencies, commodities, stocks, ETFs, and indices.
The platform also comes in four different versions – one which is web-based, one which can be accessed on your desktop, one which can be accessed on your portable Android and iOS devices, and finally, a downloadable version.
Funding methods
You can fund your Plus500 account using either your Visa or MasterCard credit card. You can also use MoneyBookers or a bank wire transfer. The latter usually takes several days to be processed.
Customer support
The Plus500 customer support team is on hand 24/7 where users can communicate in multiple languages in addition to English. They can be reached via email or an online chat forum but not by telephone. This can be a problem for clients who have trouble connecting to the internet.
Conclusion
In terms of quality, Plus500 is on par with many of the world’s leading brokers. Plus500 is not a scam. Having general efficiency in all its services makes it an attractive and reliable choice for many traders.