Plus500 is a forex broker. Plus 500 offers the Mobile and WebTrader trading currency platforms. Plus500.com offers currency pairs, cryptocurrencies, gold, silver, stocks, options, commodities and cfds for your personal investment and trading options.
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What is Plus500.com?
Plus500 may be the place to go if you want to trade with tight spreads, zero commissions, fast execution and a leverage of up to 1:300. Despite these goodies, the broker also has its downsides which we shall see more clearly when we talk about trading accounts and trading platforms. We shall also look at their funding and withdrawal methods
Before we continue, it’s nice to know that Plus500 is a UK based company whose main office is situated in London.
Regulation and Incorporation
Plus500 offers CFDs based on the directions given by the FCA (Financial Conduct Authority). They also have their operations in Asia and Europe.
As part of the regulations they are subjected to, clients’ funds are kept separately from the company’s money. Thus, in the event that the company may be bankrupt, clients can still have their money back. This is in accordance with the FCA’s client money use.
Plus500 has no special trading account types unlike some other brokers.
This is another downside as they don’t have MT4. Clients trade on the company’s platform which may take time for them to learn and get accustomed to. But in the end, it will still be fine and they can trade up to 1000 assets.
The markets include crypto, indices, Forex, commodities, shares, ETFs, and more instruments. Commodities to trade include oil, gold, cocoa, wheat. You can trade commodities by funding your account with $100. Your leverage will be 1:150. Leverages for other commodities are 1:30 for crypto, 1:300 for indices, shares and Forex, 1:5 for options and 1:100 for ETFs. In all these, you can start trading as soon as you fund your account with minimum of $100 only.
Although Plus500.com appears to be a good broker, one must still be mindful of investing in it because trading Forex and CFDs are generally risky. You should therefore be more guided before taking a decision to trade.
Disclaimer: This article should not be viewed as an endorsement of any of the services mentioned. Please do your own research before considering investing any funds. You should never make an investment into any online program if you do not know what you are doing.