Regulators: FCA, ASIC, CySEC, FSB, ISA, MAS
Minimum Deposit: £100
Maximum Leverage: 1:300
Plus500 and its trading conditions are not in the style we are accustomed to. Account types and payment methods are very limited. You can only benefit from the standard account type. Also Meta Trader 4 is not reachable.
Nevertheless, investors prefer Plus500 despite all these negativities. The most important factor in this preference is regulators. Plus500 is quite powerful in terms of regulation. The sponsorship of Atletico Madrid is also an important prestige for Plus500. The official website has about 5 million visitors per month. I can say that it has a very good number of visitors compared to the rucksacks.
This Plus500 review will give you more information about Plus500 trading conditions, licenses, withdrawal and deposit methods and more. So let’s start.
Plus500 is a very strong institution for regulation. If the regulators of a broker are important to you, Plus500 is for you. The broker is regulated by 6 different regulators. Three of these, FCA, ASIC and CySEC, are very reputable regulators. Many investors prefer Plus500 because of the confidence they have in these regulators. You can see these regulators in the following table.
|Plus500AU Pty. Ltd.||Australia||ASIC
|Plus500SG Pte. Ltd.||Singapore||MAS
|Plus500SA Pty Lt||South Africa||FSB
In addition, brokers under FCA and ASIC regulation have a compensation guarantee. The Financial Services Compensation Scheme by the FCA offers up to £50,000 guarantees for each investor in the event of bankrupt of the company. Similarly, the Investor Compensation Fund by the CySEC guarantees up to €20,000 for each clients fund.
I think that the brokers that I have reviewed are the most licensed broker Plus500. I think that the brokers that I have reviewed are the most licensed broker Plus500. Moreover, regulators providing these licenses are not ordinary regulators known as offshore watchdogs.
Trading Conditions in Plus500
Plus500 does not have the same trading conditions as other brokers. Unlike most brokers, Plus500 does not offer the MetaTrader4 or cTrader platform to its investors. The broker offers its in-house trading platform to use to its investors. Via this platform, investors can access from web or mobile. The broker offers its in-house trading platform to use to its investors. Via this platform, investors can access from web or mobile.
The maximum leverage is 1: 300 and it can be varies depending on the trading instruments. The maximum leverage for different instrument groups are as follows:
- Forex – up to 1:300 leverage;
- Indices – up to 1:300 leverage;
- Commodities – up to 1:150 leverage;
- Bitcoin – up to 1:20 leverage;
- Other Cryptos – up to 1:10 leverage.
I can say that spreads offered by Plus500 are competitive. Yet spreads are not very good, compared to their competitors. For example; the average spread on EURUSD is around to 2 pips.
In contrast to the regulation criteria, trading conditions are more negative than other brokers of my favorite brokers list.
Risk management is easy with Plus500, although the trading conditions are bad. The broker offers guareentee for stop loss (close at loss) and the limit (close at profit. So that unwanted conditions such as slippage do not occur.
Payment Methods in Plus500
Plus500 offers a limited number of options in terms of payment methods. In general, most forex brokers consider it important to have a variety of payment methods. This is a great advantage especially for brokers who are attracted to international investors. For example; Brokers with offices in many countries, such as XM, FXTM, FBS, can find dozens of payment methods. However, Plus500 has a very poor performance in this regard.
You can use Credit Card/Debit Card, Paypal, Skrill and Wire Transfer as deposit and withdrawal methods. Of course the quickest way is to make a deposit via Credit Card.
Final Thought About Plus500
Plus500 may be a very good broker, but it is performing poorly on some issues. For example; I can say one of the best brokers about regulation and licensing. The licenses that they have are very reputable licenses.
But it does not have the variety in terms of account types. It only offers one account type. This may not be appropriate for investors with different trading strategies. Nevertheless, the risk management options offered by Plus500 are at a good level. Deposit and withdrawal methods are quite limited, just like account types. To sum up, Plus500 is successful at issue of regulation and risk management, but insufficient at account types and payment methods.
Commissions and fees7.5/10
Platform & Tools4.0/10
- Regulated by strong regulators
- Negative Balace Protection
- Guaranteed Stop Loss and Limit orders
- Only one trading platform avaliable, no MT4 or cTrader
- Payment methods are limited
- Only one account type