Plus500 Review 2023: A Comprehensive Trading Platform
TLDR
Plus500 is a mobile trading platform that caters to central street traders and offers an unlimited demo account. This allows users to practice trading strategies without risking real money. This Plus500 review will cover all the essential details, including regulations, safety, and features.
Plus500 provides several useful features, such as leverage availability, price alerts, and push notifications based on market events. Although it mainly deals with CFDs and inactivity fees, it is fully regulated on the Main Market of the London Stock Exchange.
However, it should be noted that U.S. residents are not permitted to invest in these instruments via this platform.
Who should use the plus500
With an array of popular coins available to trade and zero deposit fees or withdrawal fees, the Plus500 crypto exchange is the perfect platform for trading cryptocurrencies. It features a user-friendly interface that enables seasoned traders to customize their plans.
Educational materials for beginner traders
Beginners can take advantage of the comprehensive educational materials included on the platform. They offer various tools, such as charting and stop-loss, that help prevent loss and track performance.
Plus500’s range of tradeable coins across markets such as Bitcoin, Ethereum, Litecoin, and Ripple ensures investors find the right coins. Plus500 offers 24/7 customer service, so anyone encountering difficulties while trading can get help immediately. Plus500 crypto exchange is an excellent choice for beginners looking to start investing in cryptocurrencies.
Investors searching for a platform to get started will appreciate the easy-to-navigate interface. Its intuitive user design makes it easy to understand trading options without too much prior research.
Thorough research and first-rate educational material are essential for any crypto exchange to be on par with its competition. Without these factors, this platform falls short in trading cryptocurrencies.
Experienced traders
Plus500 lags behind its competitors regarding its trading tools for experienced traders. Experienced investors might be better served by an alternative exchange that can provide more complex charts. These may be algorithmic trading options and various technical indicators.
Availability and KYC
Plus500 platform geographically has branches worldwide. It is based in Singapore and Japan to Bulgaria, Cyprus, the UK, Israel, Australia, Seychelles, and the United States.
Plus500’s customer due diligence process requires customers to verify their accounts to ensure identification and security. This includes verifying details like name, date of birth, residence, phone number, e-mail, and payment method, among other things.
What makes a plus500 good choice
Easy-to-use platform
Having an easy-to-use interface can mean the difference between success and failure.
Plus500 offers just that, with a range of features within the interface. Its visually appealing design is intuitive for users who have never traded before, offering guided walk-throughs and helpful tool tips.
The interface has additional features supporting user experience, such as saving previous configurations. This makes repeating trades a breeze. Its user-friendly nature makes it an excellent option for anyone looking for hassle-free online trading services and financial services providers.
Easy account opening process
Plus500 stands out as they offer a quick and secure bank transfer, account, and opening process. Their customer service team is also on-hand to help with any queries or questions you may have.
Furthermore, Plus500 offers several account types. This allows traders to choose an account that best suits their personal preferences, enabling them to maximize the trading experience.
With all this in mind, it’s obvious why Plus500 is the premier choice for those seeking a dependable platform.
Great mobile app
Plus500 is a mobile-friendly platform that allows cryptocurrency traders to buy and sell on the go. With Plus 500’s anytime, anywhere accessibility, investors can stay up-to-date with their investments. This is done thanks to customizable trading alerts integrated into the app!
The trading alerts enable informed decisions when it comes time to buy or sell digital currencies.
The mobile app also provides 24/7 customer support. That means help is always just a few clicks or taps away from users in any situation or doubt. Moreover, thanks to its intuitive design, the Plus500 mobile app facilitates even amateur traders who are just getting started.
Low spreads and commissions
Even small trades can be profitable with their competitively low spreads, trading fees, and commissions. The prevailing market rate and minimal cost associated with market access imply unlimited prospects for successful trading.
Lower spread trading fees and commissions also ensure more predictable costs when transacting, which means that Plus500 users can accurately plan how much it will cost them to operate within their chosen market. This makes Plus500 an excellent choice for anyone looking to maximize the return on their cryptocurrency transactions.
Unlimited demo account
By offering an unlimited trial account, Plus500 offers the ideal opportunity to try out their platform and become comfortable with trading. We tested the account for this plus500 review and found it extremely practical.
It allows users to make decisions based on practical experience, experimenting with various tactics without compromising capital. With the ability to gain experience without risking anything makes sense to choose plus500 as a reliable crypto exchange partner.
Trusted Partners
5.0
Fees
0.1 – 0.5%
Tradable Coins
600+
Payment Options
+ 3
4.7
Fees
0.01 – 0.10 %
Tradable Coins
100+
Payment Options
4.3
Fees
0.04% – 0.10%
Tradable Coins
145 +
Payment Options
Opening a plus500 account
Creating an account with Plus500 is a simple, straightforward process requiring only minutes of your time.
Step 1: Visit the Plus500 website
Start by visiting their website using any web browser on your desktop.
Step 2: Start Registration
Once you are at the main page, click the [Start Trading Now].
Step 3: Choose a username and password
Then, create a username and password for your account. You can also sign up using your Google, Apple, or Facebook account. When done, click [Create Account].
Step 4: Agree to the terms and conditions and start trading
When done, you will be taken to a new page, where you need the terms and conditions of your chosen exchange or broker. After that, you can finally begin your journey into this exciting world!
With access to real-time market developments, you can expand your portfolio with a never-ending selection of investments – experience true financial freedom like never before.
Plus500 features
Leverage Available
Plus500 makes trading more attractive with its leverage feature, allowing traders to put down a fraction of the cost of the position and still make potentially high returns.
Leverage can be adjusted, allowing more flexibility in their risk management tools. Plus500 provides trend indicators that help traders accurately determine their trades’ direction.
It also helps to access reliable real-time data from international marketplaces, which is beneficial when trading on financial instruments.
If you’re looking for a platform that allows you to take advantage of leverage while being safe and reliable, then Plus500 is worth considering.
Price Alerts
Plus500’s advantage over other online trading platforms lies in its price alert feature. As a trader, this is indispensable for staying updated when an asset or currency reaches your predefined target cost. With price alerts, you are always informed and in control of your investments.
These alerts notify whenever the trader’s desired asset reaches a particular price. This removes the hassle of monitoring trades and continually monitoring costs, making for more efficient trading and maximizing profits.
Price alerts are especially beneficial for those wanting to take advantage of volatile markets, allowing them to jump on opportunities quickly rather than waiting for prices to reach their ideal level before entering a position.
Candlestick Charts
Plus500 allows traders to use candlestick charts to analyze when making trading decisions. Candlestick charts are helpful tools because they cancan show how a given asset performs over a set period.
By seeing how an investment is performing, such as trending, how volatile it has been, or how the open, close, and high-low prices compare over different intervals (such as daily, weekly, or monthly).
Plus500 offers its users a critical advantage when trading financial products by providing candlestick charts. With these essential insights, traders can make more informed decisions and maximize profits. This charting tool gives them the confidence they need to succeed in today’s competitive markets.
CFD Trading
Plus500 provides traders with an extensive range of commodities, stocks, Forex, and indices through trading CFDs. In Forex trading, accounts often lose more than what is deposited in retail.
With a CFD (Contract for Difference) trader speculates on the price movements of an underlying asset without needing to own it. CFDs are complex instruments with a high risk of losing money rapidly due to leverage.
The respective profits and losses on the contract are also settled in cash. This means that traders can enjoy the advantages of leveraged trading without market risk, meaning they only need to deposit minimum money for a fraction of their total exposure, meaning they can take more prominent positions with a smaller capital outlay.
Changes in In-House Trader Sentiment Indicator
Plus500’s in-house trader sentiment indicator allows traders to understand better current market trends and how those dynamics could influence their trading decisions. Users can swiftly understand the marketplace’s direction by showing sales and buy volumes.
Plus500’s trading sentiment indicator is always changing, helping traders stay informed of any shifts or swings in the markets they are interested in – making it an invaluable asset. It doesn’t allow automated trading via expert advisors or other trading algorithms.
Push notifications based on market events
The push notifications keep you up-to-date on the most pertinent market events, such as when a currency pair has broken out of its normal range or reached pre-set price targets. The notification feature makes it easy for traders to stay ahead of the game and capitalize on emerging opportunities.
With quick notifications about significant market events, traders can keep abreast of movements and use that knowledge to their advantage.
Disadvantages of plus500
Lack of support for automated or social trading
At first, Plus500 garnered much acclaim for its cutting-edge trading platform. It has since fallen from grace due to lacking support for essential features such as social and automated trading.
This presents an immense disadvantage to traders relying on these advanced tools to excel at their craft. While having all the traditional components of trade exchange present, numerous users have complained that the overall experience is less satisfactory than more sophisticated exchanges.
Also, for traders desiring to gain the most from their platform, many useful websites are available for those wishing to take advantage of cryptocurrency investments.
Mediocre research and educational content
On the Plus500 platform, research options and educational content are limited, unlike other exchanges, where detailed market news, broker analysis, charts, and other technical analysis and writing form part of their platform for traders to review. Plus500 does not offer this level of knowledge access.
Those who want a deep understanding of technical analysis of markets’ behavior may need to look elsewhere for educational materials that make the best trading decisions.
Unavailability of news headlines
The lack of news headlines on the Plus500 platform is a disadvantage, as it prevents traders from staying current on the latest cryptocurrency news. This can be an issue for those who rely heavily on news headlines to inform their trading decisions.
Without timely information, traders cannot correctly monitor trades, track trends, or decide when and how to buy and sell various coins.
Additionally, not having access to such news makes understanding market volatility more complex, which could lead to high risk, bad investments, and, therefore, a high risk of losses.
For these reasons, it is essential for platforms –such as Plus500–to incorporate reliable sources of news into their platform suite to ensure that traders have all the necessary information they need to be successful.
Unpairing with other trading tools
Plus500’s proprietary trading platform is incredibly limiting as it cannot be connected to any other external software or media. This can hinder traders who prefer a comprehensive approach to market forecasting. They must go back and forth between web-based tools and the Plus500 exchange if they want this information in one place.
Also, the lack of integration with other platforms means that users are limited in their analysis capabilities and forced to rely on Plus500’s tools. This limitation could restrict the success of many traders seeking additional data from third parties.
Only derivatives are available
Plus500 offers derivatives trading for Bitcoin and Ethereum, which could be seen as beneficial to some investors. Sadly though, this exchange only permits derivative transactions – so if you’re looking to purchase coins directly, you should seek out an outlet specializing in direct crypto purchases.
For those enamored with derivatives trading, Plus500 is a fantastic option as it offers numerous benefits, such as secure client transactions. However, more comprehensive service seekers would better look elsewhere for their securities and exchange commission needs.
Not open to U.S. residents
Unfortunately, the U.S. has deemed CFD transactions unlawful, making Plus500 unavailable for trading within its borders.
This spells trouble for American citizens who wish to partake in digital currency markets and take advantage of all that crypto-based finances offer; they must find alternative platforms to succeed.
With the ever-growing cryptocurrency industry, now is an ideal moment to explore various opportunities and expand your horizons with worldwide online brokers and exchanges that open fresh market possibilities for U.S. clients.
Improvements
More Cryptocurrencies
Investors can expand their market reach by broadening the range of currencies offered with Plus500. Adding more cryptocurrencies will give traders more choices and control over how they build their portfolios or protect against inflationary pressures and other risks. Many will likely use these new options, increasing revenue and stakeholder engagement!
This can potentially increase traders’ profits, help edge out competitors, and become the go-to trading platform for digital asset enthusiasts. Additionally, having more cryptocurrency availability will bring in additional users who may not have wanted to invest before due to their desired currencies being unavailable on the exchange.
By widening its selection, plus500 has an opportunity to establish itself as one of the premier options available in today’s crowded market.
Improved Security
To ensure a secure platform for traders and keep their trust, Plus500 must implement advanced technologies such as multi-sig wallets, frequent software audits, and encryption protocols.
This will assure customers that their transactions are safe from hackers or scammers – even with an easy-to-use interface and competitive trading fees. By doing so, Plus500 can guarantee a worry-free trading experience.
Qualified retail traders on Plus500 CFD broker can request an upgrade to a professional account per their need. This would ensure that traders feel completely secure on the platform and engage in more active trading due to the peace of mind these security upgrades would provide casual traders.
Better User Interface
The Plus500 crypto exchange can provide a more efficient, intuitive, and enjoyable user experience by investing in better user interface design.
This could include features like more accessible navigation options, improved readability of data, better organization and sorting of information by tags or categories, graphical displays of trading history or market activities, and a clear and concise view of current market positions and holdings, among others.
A quality-focused user interface will attract more traders to the platform as it will help them make informed decisions faster with greater accuracy. This approach will also add tremendous value to their trading experience by making the Plus500 platform more straightforward.
Adaptation in more countries
This involves localizing the platform and adapting the interface, languages, and payment methods in different country-specific settings. This customization can help create better user experiences for customers in those regions.
Moreover, providing localized versions of the Plus500 crypto exchange can open up new markets. With enough adaptation and localized support, upgrades could make Plus500 a global phenomenon that can drive massive take-up of cryptocurrencies globally.
Better educational and informative content
The Plus500 platform can be elevated by introducing more educational and informative content. Creating intriguing material that users find relevant and absorbing empowers them to make sound decisions about crypto coins before investing. This technique would also encourage more active traders on the platform, as they will better understand various currencies available for trading.
This can also benefit newcomers to the trading world by providing them with extra knowledge when investing in cryptocurrency. The platform will likely gain a greater reputation within the trading industry with more knowledgeable and informed users.
Summary
Plus500 is ideal for inexperienced and experienced traders seeking a user-friendly platform with low spreads and commissions. Furthermore, their unlimited demo account should be seriously considered when deciding which broker you will select.
However, considering some drawbacks, such as the lack of research and educational content and the ability of news headlines. Even if Plus500 defaults, a shortfall of funds, £85,000 will be compensated under the Financial Services Compensation Scheme. Overall, this plus500 review concludes that it is a good platform for those looking for a simple platform.
Plus500 is a mobile trading platform that allows users to buy and sell cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. Based on their predictions, it enables users to open positions on the price movements of these digital assets, either buying or selling. Users can access Plus500 on their mobile devices, making it convenient for trading on the go.
Yes, Plus500 is a fully regulated CFD trading company on the Main Market of the London Stock Exchange. It is also authorized and regulated by several other reputable financial authorities, ensuring it complies with strict safety standards.
Plus500 takes security seriously and implements various measures to protect user data and funds, such as encryption, two-factor authentication, and segregated client funds.
Yes, Plus500 offers an unlimited demo account that allows users to practice trading strategies without risking their real money. It can benefit traders new to the market or who want to experiment with different strategies before trading with actual funds. Plus500's demo account is an excellent way to gain experience and confidence in trading, and it is entirely free to use.
